Shares of Tesla (TSLA) are jumping as much as 14% in premarket trading Wednesday on investor bets that the electric vehicle (EV) maker run by Elon Musk will be a major beneficiary of Donald Trump's return to the presidency.
Donald Trump's election victory is expected to bring a strategic boost to Tesla Inc (NASDAQ:TSLA), with Wedbush analysts projecting major policy shifts that could favour the electric vehicle (EV) maker. According to the investment bank, Trump's administration is likely to scale back federal EV rebates and tax incentives, which would impact much of the industry.
Shares of Tesla surged by 12% in premarket trading Wednesday morning, sending the company's stock toward a new record after Donald Trump was reelected as president, while analysts signaled a Trump victory would likely benefit Elon Musk's firm.
Stock market futures are up across the board in premarket trading this morning after Donald Trump was declared the winner of the 2024 presidential election. As of the time of this writing, S&P futures are up 2.3%, Dow futures are up 2.95%, and Nasdaq futures are up 1.76%.
CEO Elon Musk has close ties to Trump. Plus, Tesla could benefit from potential higher Chinese tariffs, an analyst says.
With Donald Trump reclaiming the White House for a second term, a Wall Street analyst has noted that the win could be bullish for Tesla (NASDAQ: TSLA).
Shares in Trump Media & Technology Group Corp (NASDAQ:DJT), Tesla Inc and most big US banks surged as US election results pointed to Donald Trump returning to the White House for a second term as president. Trump was declared victor, the Associated Press reported on Wednesday morning, as the Republican party candidate reached the 270-electoral college vote threshold.
Tesla Inc (NASDAQ:TSLA) shares headed over 14% higher in pre-market trading on Wednesday following confirmation of Donald Trump's win in the US presidential election. Elon Musk had been a prominent vocal supporter of Trump throughout the former president's election campaign, prompting speculation his electric vehicle firm will now reap the rewards.
Shares of Tesla , Donald Trump's media business and domestic-focused small-cap companies surged on Wednesday in anticipation of a win for the former president even though some key states in the U.S. election are yet to post results.
Trump made a speech declaring victory early Wednesday morning, although the Associated Press still hasn't called the race for either candidate.
Dan Ives, managing director at Wedbush, discusses how the Trump administration could potentially benefit Tesla.
Tesla's Frankfurt-listed shares rallied over 14% at the open on Wednesday, as investors were increasingly pricing in a win for Republican Donald Trump in the U.S. presidential race against Democratic Vice President Kamala Harris.