Bloomberg: Tesla Stock Up 73% Since Election Day

Bloomberg News reports:

Less than two months ago, shares of Tesla Inc. were on their way to just the third losing year in the electric-vehicle maker’s decade-and-a-half as a public company. But after a furious rally in the last seven weeks, the stock is suddenly among the S&P 500 Index’s best performers for 2024.

Prior to the US presidential election Tesla shares were down 2.3% for the year. Since Election Day, they’ve soared 73%, putting them up 69% for 2024.

Meaning, in less than two months, the EV maker has added a staggering $572 billion to its market capitalization, bringing it to around $1.4 trillion, although nothing about the company fundamentally changed.

Read the full article.

Investors appear to be betting that Elon Musk’s closeness to the Trump administration

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