Investors appear to have taken notice. Shares of Musk-run Tesla have soared nearly 40% since Trump won re-election nearly two weeks ago. But the electric carmaker is not the only company affiliated with a Trump ally that has enjoyed a stock surge in the aftermath of Trump's victory.
Tesla did not immediately respond to an ABC News request for comment, nor did Apollo Global Management, Palantir, or GEO Group. A portion of the increase in share price for some of the Trump-connected firms may stem from that overall shift toward business-friendly policy, some experts said. “You have the new layer with Trump where he tends to be someone who can favor companies or disfavor companies based on his view of their politics or his view of their level of support for him,” Rogers added. “It’s natural that the market will take those factors into account."Days before is year's election, Jeff Bezos, the executive chairman of Amazon and owner of the Washington Post, blocked the newspaper’s planned endorsement of Vice President Kamala Harris.
“The fact that Elon Musk is so close to the administration – and, in fact, will be in the administration in some capacity – suggests that for all the talk, his companies won’t be hurt,” Nejat Seyhun, a finance professor at the University of Michigan who studies market activity, told ABC News.
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