SpaceX and Tesla laminitis Elon Musk participates successful a municipality hall-style gathering to beforehand aboriginal and absentee voting astatine Ridley High School connected October 17, 2024 successful Folsom, Pennsylvania.
Anna Moneymaker | Getty Images News | Getty Images
Shares of Tesla surged 9.2% successful extended trading arsenic investors priced successful the likelihood of a Donald Trump victory, according to Robinhood data.
The electrical conveyance shaper is considered a beneficiary of the alleged Trump trade, fixed CEO Elon Musk's backing of the erstwhile president arsenic 1 of his apical donors.
Last month, Musk donated astir $75 cardinal to America PAC, which is the ace governmental enactment committee that helium established earlier successful the twelvemonth to enactment the Republican nominee.
Trump has promised to name Musk arsenic the caput of a authorities ratio commission, if elected. During his code astatine Trump's Madison Square Garden rally successful precocious October, the SpaceX proprietor said helium could cut $2 trillion from the national budget successful that role.
"Your wealth is being wasted, and the section of authorities ratio is gonna hole that," helium said astatine the rally. "We're going to get the authorities disconnected your backmost and retired of your pocketbook."
TSLA, year-to-date
As of Tuesday's close, the banal has substantially underperformed the broader marketplace this year, with shares rising astir 1.2% compared with the 21.2% year-to-date gains seen by the S&P 500.
In Tuesday's regular session, Tesla precocious 3.5%, breaking a six-day losing streak.
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