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Tesla shares reach record high amid Trump election victory, leadership appointments

Tesla shares reach record high amid Trump election victory, leadership appointments


2024-12-14 05:10:18
(MENAFN) Shares of Tesla, the leading US electric vehicle manufacturer, hit a new all-time peak on Wednesday, continuing their upward trajectory. The company’s stock climbed to USD424.77, reflecting a notable 5.9 percent increase as of 2200GMT, pushing Tesla’s market capitalization to a staggering USD1.36 trillion.

The surge in Tesla's share price follows the election of Donald Trump as the 47th president of the United States last month. CEO Elon Musk had been a vocal supporter of Trump, and since the latter's victory, Tesla's stock has surged by more than 67 percent.

Additionally, the announcement that Musk, along with entrepreneur Vivek Ramaswamy, would take on prominent roles in leading the Department of Government Efficiency (DOGE) under Trump’s administration has further fueled investor optimism.

These developments have played a crucial role in driving the direction of Tesla’s stock, marking a significant period of growth for the company.

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