Tesla shares soar more than 14% as Trump win is seen boosting Elon Musk's electric vehicle company

FILE - Tesla and SpaceX CEO Elon Musk listens as Republican presidential nominee former President Donald Trump speaks at a campaign event at the Butler Farm Show, Oct. 5, 2024, in Butler, Pa. FILE - The logo of Tesla car is pictured at the Paris Auto Show, in Paris, Oct. 14, 2024. FILE - A Tesla Model 3 charges at a Tesla supercharging station in the parking lot of an outlet mall Sept. 25, 2024, in Lakewood, Colo.

Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.

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Tesla shares soar 13% as Trump win sets stage for Elon Musk's electric vehicle companyShares of Tesla soaring after an election that will send Donald Trump back to the White House, an outcome that has been strongly backed by CEO Elon Musk in the closing months of the race.
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Tesla shares soar 13% as Trump win sets stage for Elon Musk's electric vehicle companyShares of Tesla soaring after an election that will send Donald Trump back to the White House, an outcome that has been strongly backed by CEO Elon Musk in the closing months of the race.
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