Why is Tesla stock rising as Trump cruises to victory in US elections? – Investing Abroad News
Tesla shares surged in pre market session on Wednesday as investors bet on a potential Trump election victory benefitting CEO Elon Musk. Tesla stock price closed at $251.44 on Tuesday and is trading around $289.17, a jump of 15% over the previous day’s close. Tesla stock has underperformed the broader market this year, with shares increasing by 1.19% compared to the S&P 500’s 21.24% year-to-date gains.
Tesla shares are expected to be in focus on Wednesday in anticipation of a victory for former President Trump, even though some crucial states in the United States election have yet to post results.
According to AP, Donald Trump has been elected the 47th president of the United States with the former President Donald Trump getting…
