Tesla Hits $1 Trillion Market Cap as Stock Rallies After Trump Win

Tiger Newspress2024-11-08

Shares of Tesla climbed more than 6% in mid-morning trading Friday, pushing the electric vehicle maker’s market cap past $1 trillion for first time since 2022.

The company’s stock has rallied about 27% this week after President-elect Donald Trump won the U.S. presidential election and investors have grown optimistic that the former president’s return to the White House could benefit Tesla. Tesla CEO Elon Musk has been a key ally for Trump throughout his campaign, pouring at least $130 million into a pro-Trump campaign effort.

Tesla had a market cap of $807.1 billion through Tuesday’s close. Prior to this week’s rally, shares of the carmaker were up about 1% for the year. Tesla’s stock is now up about 26% year to date.

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SiX
2024-11-08
SiX

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