Nov 06, 2024 04:22 PM IST
Tesla shares soared after the victory of Republican candidate and former President Donald Trump in the US elections whom CEO Elon Musk had personally endorsed
Tesla shares soared after the victory of Republican candidate and former President Donald Trump in the 2024 US elections whom CEO Elon Musk had personally endorsed.
By how much did Tesla stock rise?
The after-hours consolidated last trade value of Tesla stock on the Nasdaq hit $258.69, which is a 6.53% or $15.85 rise.
The after-hours high was $265.49 as at 7:36 pm ET.
This comes after Tesla stock closed on the New York Stock Exchange at $251.44, which was a 3.54% or an $8.60 uptick compared to the previous close.
Also Read: Swiggy IPO hits markets today after raising ₹5,085.02 crore via anchor investors
Elon Musk and Donald Trump
Elon Musk’s support of Donald Trump started officially around late 2022 when Trump announced his candidature in the upcoming elections. This however, came after a relationship which varied on so many levels starting off as Musk being politically neutral, to being critical of Trump, and to endorse him fully.
Musk had also reinstated Trump’s banned X account in the same year right around the time he bought the social media platform. For this, he made a poll which found out 51.8% of the respondents wanted the ban to be removed.
He even donated $43.6 million to his pro-Trump spending group America PAC during just the first half of October, according to federal disclosures.
Also Read: Donald Trump’s Truth Social stock surges after posting narrowing losses on election night
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