Tesla stock price had risen by 14.62% to $288.38 after Donald Trump's win. In the previous session, Tesla finished at $251.44 but US Election resuls have sent the Tesla shares sharply higher.
Trump's Influence
Tesla's CEO, Elon Musk, has been a Trump supporter throughout the campaign. In his speech at the Florida election event, Trump publicly appraised Musk as saying that he is "super genius", and the country needs protection of its brightest minds. Musk retorted on the social media platform X that "The people of America gave @realDonaldTrump a crystal clear mandate for change tonight…Soon, you will be free to build." The shares of Trump Media & Technology Group, the media company is owned by Trump have surged 28.46 percent to $43.40 in pre-market trading. Earlier TMTG's shares had fallen sharply in September and had been struggling since then and even lead Trump's stake to less than an estimated $5 billion.
Market Reactions Around the World
As Trump's victory went through, both dollar and Bitcoin registered an upsurge. But in India,The Sensex was down today by 848 points to 79,529.65, while Nifty fell 276 points to 24,208. The major stocks like ICICI Bank and Reliance Industries contributed to the decline in stock market today. Todays decline in stock market was due to high valuations and weak Q2 earnings. This market fragility was seen across the globe when Trump got in power. According to economists, markets would be volatile throughout this month.
Inputs by Agencies
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