Thu Nov 07 15:53:37 UTC 2024: ## Trump’s Election Win Sends Tesla and Trump Media Stocks Soaring

Tesla shares surged 14.62% in pre-market trading on Wednesday, fueled by the expectation of a Donald Trump victory in the 2024 US Presidential Election. The stock’s jump comes after Trump, at an election party in West Palm Beach, Florida, praised Elon Musk as a “super genius” and claimed himself the winner of the race.

Elon Musk, a vocal supporter of Trump, has expressed his excitement about the potential for “change” under a Trump presidency, stating that “America is a nation of builders.”

Trump Media & Technology Group, the company owned by Donald Trump, also saw a significant rise in share price, up 28.46%. The stock has tripled in value since September, boosting Trump’s stake to $5 billion.

The market seems optimistic about a potential Trump presidency, believing it could lead to economic growth through tax cuts and deregulation. Frédérique Carrier, head of investment strategy for RBC Wealth Management, told Reuters that a Trump win would “unleash animal spirits” and boost growth in the short term.

The US dollar and Bitcoin also gained momentum on Wednesday, fueled by Trump’s predicted return to the White House.

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