A Tesla store, in Corte Madera (California) on May 31, 2024 (GETTY IMAGES NORTH AMERICA / JUSTIN SULLIVAN)
The action of the Tesla group, owned by Elon Musk, climbed more than 15% in pre-session trading on Wall Street on Wednesday, driven by the support shown by the billionaire for Donald Trump, who claimed his victory in the American presidential election.
Around 10:10 GMT, the automaker's stock rose 15.11% to $289.44 in futures contracts on the Nasdaq index, which give an indication of trends before the start of the session.
This increase is part of a good dynamic for American stock indices, which have risen sharply in pre-session trading since the Republican candidate claimed victory in the presidential election on Wednesday.
“Tesla's stock is growing (…) due to Elon Musk's privileged links with Donald Trump” who “owes him a lot”, explains Andréa Tueni, market analyst at Saxobank, to AFP.
The general director of the group specializing in electric automobiles displayed unwavering support for Donald Trump throughout the campaign, sending tens of millions of dollars in donations through his political organization “America PAC” and appearing several times during meetings of the Republican candidate.
The latter also paid tribute to him during his speech on Wednesday.
“We have a new star. A new star is born: Elon,” he chanted to the crowd of his supporters. “We are together tonight (…) He's a character, he's a special guy. He's a super genius,” added Mr. Trump.
Investors are “betting that” this proximity between the two men “will turn into something positive for Tesla,” according to Mr. Tueni.
The Republican candidate has already announced during the campaign that he will charge Elon Musk with an “audit” of the government with a view to profound “reforms”.
This increase in Tesla's pre-session contracts comes two weeks after the publication of better than expected results for the company, which had already allowed the stock to soar by almost 20% in one session on October 24. .
