Tesla Inc. TSLA has seen its stock price climb by 7.23% in pre-market trading on Monday, as per Benzinga Pro. This follows the company’s achievement of a $1 trillion market capitalization last Friday, marking a significant milestone for the electric vehicle giant.
What Happened: The surge in Tesla’s stock price comes despite hedge funds suffering substantial losses from short positions. These losses have reached $5.2 billion from election day through the close of trading last Friday. The financial setback for hedge funds is linked to the close relationship between President-elect Trump and Tesla CEO Elon Musk.
