Tesla stock up since Trump’s win

Tesla stock soared 70% since Donald Trump’s win in the US presidential elections, with predictions it may go further.

So says Investing.com , addingTesla Inc (NASDAQ:TSLA) shares soared to an all-time high Wednesday (December 11), marking another milestone for Elon Musk’s EV manufacturer.

“Tesla stock closed at (US)$424.77,” it says, pointing out the stock’s performance eclipsed the previous record close of $409.97 set on November 4, 2021.

“The surge in Tesla’s stock value is a continuation of the upward trend following the election of President-elect Donald Trump, showing a near 70% increase since last month’s election results.”

Investing.com says the rally is partly attributed to Tesla chief executive Elon Musk’s anticipation of Trump’s victory and the expected influence on the new administration, which has fuelled investor optimism regarding Tesla’s future.

“The company’s recent sales figures from China have also contributed to the bullish sentiment,” says Investing.com.

“Tesla’s China division reported its highest weekly sales in the fourth quarter, with 21,900 EVs sold in the first week of December. This follows the company’s announcement that November was its most successful month this year, with 73,000 units sold.”

Tesla’s China sales boost is supported by marketing strategies such as a 0% interest loans for five years and a 10,000 yuan (about US$1400) incentive for new Model Y loans.

There’s optimism about the potential for a more favourable federal stance towards Tesla’s full self-driving (FSD) software and Robotaxi service under the new administration, says Investing.com.