Elon Musk‘s Tesla benefits significantly from the re-election of Donald Trump to the US presidency. The numbers are staggering:
- market capitalization after Trump’s election exceeded $1 trillion
- the company’s stock has rallied 27% this week
Investors are optimistic that the former president’s return to the White House could benefit Tesla. It is noted that the CEO of Tesla has been a key ally of Trump throughout his election campaign, allocating at least 130 million dollars to a campaign in his favor.
Mutual support – “A special guy”
“Tesla stock rises (…) due to Elon Musk’s privileged ties to Donald Trump”who “owes him a lotAndrea Tueni, market analyst at Saxobank, explains to AFP.
Elon Musk demonstrated throughout the election campaign his unequivocal support for Donald Trump, donating tens of millions of dollars and repeatedly appearing at the Republican candidate’s rallies.
The latter also praised him today in his victory speech.
«We have a new star. A new star is born: Ilon“, he declared addressing a crowd of his supporters. “We are together tonight (…) He is a personality, a special guy. He’s a super genius”Trump added.
According to Twoney, investors are “betting that” this proximity of the two men “will translate into something positive for Tesla.”
Source: RES-MPE
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