It’s crystal clear like sunshine now that former US President Donald Trump has won the election and will be the 47th President of the country.
For the Tesla investor and enthusiast community, the most interesting aspect of this political development is the surge in the Tesla (TSLA) stock price.
In the after-hours trading, a TSLA share was traded at a 52-week high price. However, after the market-open today after the election, the rally continued into daytime trading.
As of this writing, a Tesla (NASDAQ: TSLA) is trading at $287.30 a share. The last time Tesla crossed the $280 mark was on 14th July 2023. However, after this day the price went down gradually and even slumped on some days.
In the last two years, the Tesla stock price hasn’t reached the $285 mark. But the morning after the election and Trump’s win, Tesla surpassed this mark and broke a 2-year low streak.
As soon as Trump’s victory became imminent, the price of a TSLA share started increasing. Tesla’s stock price is connected with the new president’s election because Elon Musk was the catalyst in this development.
Tesla CEO Elon Musk played a master stroke by siding with President Donald Trump in this election which has instantly started paying heavy dividends. Musk even ran President Trump’s campaign and was his megadonor to help wind the election.
The last time Tesla shares rallied for consecutive two days was after the company’s Q3 2024 earnings call and profit report. However, the streak broke soon after due to the possibility of Trump’s opponent Kamala Harris’s win and subsequent troubles for Musk and his electric vehicle manufacturing company Tesla Inc.
As Elon Musk is now a Donald Trump aide and the new president is willing to announce EV and Tesla-friendly policies ahead, there is increased investor trust in the company making itself profitable in the long run.
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 stock rallies on Wednesday morning as Elon Musk-backed Donald Trump wins the 47th election for the President of the United States.){kind=link}