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.

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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.

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