47th President of the United States

2024

Victory

President Donald Trump

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 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
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<p class="has-drop-cap">In the wake of the <a aria-label="U.S. presidential election results (opens in a new tab)" href="https://apnews.com/live/trump-harris-election-updates-11-5-2024" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">U.S. presidential election results</a>, Tesla (NASAQ: TSLA) shares experienced a significant uptick, reflecting investor optimism tied to political developments. The electric vehicle giant saw its stock rise over 15% in <a href="https://tokenist.com/investing/how-to-trade-after-hours/" rel="noopener noreferrer nofollow" class="deco-link">pre-market trading</a> on November 6, 2024, following the announcement of former President Donald Trump as the winner of the 2024 U.S. elections in a historic victory.</p>
<p>The market’s response was largely driven by idea that Trump’s policies could favor Tesla, especially given the relationship between Trump and Tesla’s CEO, Elon Musk.</p>
<h3 id="tesla-stock-soars-on-donald-trump-victory">Tesla Stock Soars on Donald Trump Victory</h3>
<p>Tesla’s stock performance was notably robust, closing at $251.44 on Tuesday and trading at approximately $289.17 on Wednesday’s premarket trading session at the time of writing (6:20 AM EST), up over 14%. This substantial increase was fueled by the anticipation of potential benefits under Trump’s administration, which investors speculated could provide favorable conditions for Tesla.</p>
<p>Despite this recent surge, Tesla has lagged behind the broader market this year, with only a 1.19% increase compared to <a href="https://tokenist.com/investing/spx-vs-spy/" rel="noopener noreferrer nofollow" class="deco-link">the S&amp;P 500’s</a> 21.24% year-to-date gains. The market’s positive reaction was not limited to Tesla; Trump’s own media company saw a 30% rise in stock price, while futures for the S&amp;P 500 and Russell 2000 index also experienced gains.</p>
<p>Elon Musk’s endorsement of Donald Trump throughout the election campaign played a pivotal role in shaping investor sentiment. Musk’s support was underscored by a <a href="https://www.reuters.com/world/us/musk-gave-75-million-pro-trump-group-becoming-republican-mega-donor-2024-10-16/" target="_blank" aria-label="$75 million donation (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">$75 million donation</a> to a political action committee backing Trump. <br><br>In return, Trump promised to appoint Musk as chairman of a government efficiency commission, a move that could potentially lead to significant budgetary savings. This relationship between Musk and Trump has been seen as a potential boon for Tesla, as Trump’s policies might align with Musk’s vision for the company.</p>
<p>The election results, which confirmed Donald Trump as the 47th President of the United States with 277 electoral votes, had a sweeping impact on various markets. While some key states were still pending results, the election outcome prompted significant market activity. Bitcoin, for instance, soared to $75,000 amid the election buzz, and Dow futures rose by over 1000 points.</p>
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<h3 id="tesla-s-financial-health-remains-strong">Tesla’s Financial Health Remains Strong</h3>
<p>Tesla’s recent financial metrics paint a picture of a company poised for growth. With a market capitalization of $807.14 billion and a profit margin of 13.08%, Tesla’s financial health remains strong. The company’s return on equity stands at 20.39%, indicating robust profitability. Analysts maintain an “overweight” rating on Tesla, with a strong buy recommendation, reflecting confidence in the company’s future performance.</p>
<p>Despite the challenges of underperforming the broader market this year, Tesla’s long-term returns remain impressive, with a five-year return of over 1,088%, significantly outpacing the S&amp;P 500’s 87.86% gain over the same period.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/tesla-stock-jumps-14-as-trump-announced-2024-election-winner/">Tesla Stock Jumps 14%+ as Trump Announced 2024 Election Winner</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Tesla Stock Jumps 14%+ as Trump Announced 2024 Election Winner

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