Elon Musk "wins the bet"! Trump's election victory boosts Tesla's pre-market stock price surge

On Wednesday, before the U.S. stock market opened, Tesla surged over 15% as investors bet that the electric vehicle manufacturer run by Elon Musk would be a major beneficiary of a Trump victory. Musk can be considered Trump's most prominent supporter in this election cycle, having provided over $130 million in support and playing a key role in Trump's campaign efforts in swing states. Wedbush Securities analyst Daniel Ives stated, "A Trump victory is the biggest positive for Tesla and Musk." He noted that if the U.S. government reduces tax incentives for electric vehicles, Tesla would have a competitive advantage over other automakers, saying, "Trump's victory could drive Tesla's stock price up by $40-50." Additionally, some analysts expect that this election cycle will bring more car sales for Tesla, more advertising orders for the social platform X, and increased support for Musk's American aerospace company, SpaceX