Tesla (TSLA) stock rises to a 2-year high after Donald Trump’s election victory

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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.

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Tesla (TSLA) share crossed the $287 mark during mid-day trading at NASDAQ after Donald Trump won the presidential election (Wednesday 6th November 2024).
Tesla (TSLA) share crossed the $287 mark during mid-day trading at NASDAQ after Donald Trump won the presidential election (Wednesday 6th November 2024). Credit: Google Finance / Screenshot.

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.

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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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Iqtidar Ali
Iqtidar Alihttp://www.teslaoracle.com
Author of more than 1500 articles on Tesla, SpaceX, and EVs. His work has been liked and tweeted by Elon Musk and other prominent influencers. You can reach him on Twitter @IqtidarAlii

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