Tesla stock soars by double digits after Trump win
Published On Nov 6, 2024, 8:39 AM
Tesla's stock surged over 12% in premarket trading following Donald Trump's victory in the US presidential election. Analysts suggest that Trump's policies may favor Tesla, particularly as he could potentially reduce subsidies for electric vehicles. Notably, Tesla appears to have a competitive edge as it continues to dominate the EV market. There are also expectations that under Trump, Tesla's advances in autonomous driving could accelerate, potentially driving the stock's future value significantly higher.
Stock Forecasts
TSLA
Positive
With the potential for deregulation in the EV sector and Tesla’s unmatched scale in production, the stock is expected to perform very well. Analysts believe that this could lead to a significant increase in the share price, particularly if full self-driving (FSD) capabilities are fast-tracked under Trump's administration.
Related News
Stock market today: Dow, S&P 500, Nasdaq soar as Trump triumphs
Nov 6, 2024, 9:35 AM
Stocks rallied as investors digested Donald Trump's victory in the US presidential election over Kamala Harris.
Tesla stock soars double digits after Trump win
Nov 6, 2024, 8:39 AM
Tesla CEO Elon Musk had been a heavy supporter of Trump's campaign.
Stock market today: Dow, S&P 500, Nasdaq futures soar as Trump triumphs
Nov 6, 2024, 8:48 AM
Investors are in wait-and-see mode to find out whether Harris or Trump will win the US election.