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 will ease the way for Tesla’s ambition of building a fully self-driving car https://t.co/wd83EUxeHU

— Bloomberg Technology (@technology) December 21, 2024