Price jump
Tesla’s market value after Trump victory over a trillion dollars
Tesla was already worth a trillion dollars on the stock market – but then doubts about the electric car market depressed the price. But Elon Musk’s closeness to Donald Trump is now causing the stock to rise.
The rise in Tesla shares following Donald Trump’s election victory has pushed the electric car manufacturer’s market value above the $1 trillion mark for the first time since 2022. Tesla boss Elon Musk is one of Trump’s loudest supporters and is expected to be tasked with reducing US government spending.
Tesla shares rose by more than eight percent to $321.22 on Friday alone. It has increased by more than a quarter since election day on Tuesday. According to calculations by Forbes magazine, Musk’s estimated wealth as the richest person in the world exceeded the $300 billion mark. It consists mainly of Tesla shares.
Tesla – like other providers of electric cars – is currently struggling with a slowdown in demand. A Donald Trump administration that wants to produce more oil and natural gas could bring even more headwinds to the industry. However, analyst Dan Ives from the financial firm Wedbush Securities assumes that Tesla will be an exception.
dpa
Source: Stern
