News Formal

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

  • 📰 AP
  • ⏱ Reading Time:
  • 11 sec. here
  • 14 min. at publisher
  • 📊 Quality Score:
  • News: 50%
  • Publisher: 51%

Electric Vehicles News

Donald Trump,Elon Musk,General News

Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House. Tesla stands to make significant gains under a Trump administration due to its size, with the expectation that subsidies for alternative energy and electric vehicles will be threatened.

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%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 728. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tesla shares soar 14% as Trump win sets stage for Elon Musk’s electric vehicle companyNEW YORK (AP) — Shares of Tesla soared Wednesday following an election that will send Donald Trump back to the White House, an outcome that has been
Source: Mynorthwest - 🏆 438. / 53 Read more »

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.
Source: wjxt4 - 🏆 246. / 63 Read more »

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.
Source: ksatnews - 🏆 442. / 53 Read more »