Tesla shares continue to rally aggressively on expectations that the company could benefit from Elon Musk's support from newly elected President Trump. On Monday, the automaker's securities rose by more than 7% in the premarket. On Friday, their price has already increased by 8%, reflecting the positive market sentiment. Against the background of this rally, if the share price reaches the $344.50 mark, Tesla's market capitalization will grow by more than $74 billion. Since Trump's victory was announced last Wednesday, the company's shares have jumped by almost 28%, once again breaking the $1 trillion mark — for the first time in two years. Analysts note that Musk actively supported Trump in the election race, counting on possible preferences for his companies under the new administration. In particular, Tesla has ambitions to develop autonomous driving and robotic taxis, which is under the close attention of regulators. Musk is trying to shift the company's strategic focus to these technologies. Earlier, Trump announced the creation of a commission on the effectiveness of federal spending, which may include Musk. This can increase the entrepreneur's influence on government decisions and benefit his other projects, such as the Starlink broadband network, given his status as a major contractor for the US Department of Defense. At the same time, it is worth noting that Tesla previously benefited from a number of measures that Trump opposed, such as loans for solar energy and electric vehicles included in the Law on Reducing Inflation adopted by the Biden administration.
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