Tesla (+11.61% to $280.63) posted the 11th largest increase in the S&P500 after Donald Trump’s victory in the US presidential election. The electric car manufacturer is one of the winners of the new billionaire election, along with the steel industry and financial stocks. His boss Elon Musk strongly supported the Republican candidate and welcomed his victory this morning by tweeting “America is a nation of builders, soon you will be free to build”.
Donald Trump praised Elon Musk in his victory speech this morning in Florida. “We have a new star, a star is born,” he declared, calling the entrepreneur an “amazing guy” and a “super genius.”
Trump announced in September that he wanted to appoint Elon Musk to head a government commission “responsible for conducting a comprehensive financial and performance audit of the entire federal government.”
Tesla’s stock is growing “because of Elon Musk’s privileged links with Donald Trump” who “owes him a lot”, Andréa Tueni, market analyst at Saxobank, told AFP. According to her, investors are “betting” that this closeness between the two men “will turn into something positive for Tesla”.
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