Thu Nov 07 03:24:47 UTC 2024: ## Trump’s Re-election Boosts Tesla Stock: Musk Praised in Victory Speech

**MIAMI, FL -** Tesla stock soared over 14% on NASDAQ following Donald Trump’s re-election victory, fueled by the president-elect’s praise for Elon Musk during his victory speech.

Trump, addressing supporters in Florida, referred to Musk as “a character, a special guy, a super genius,” and emphasized the need to “protect our geniuses.” Musk responded on X, posting a humorous image of himself carrying a sink into the White House’s Oval Office – a reference to his recent Twitter acquisition.

Analysts believe Trump’s re-election could benefit Tesla, as he is expected to roll back EV incentives. Dan Ives of Wedbush suggests Tesla’s size gives it an edge in the electric vehicle market even without government support.

Musk’s political involvement has been significant, having contributed over $130 million to Trump and Republican candidates this election cycle. He even joined Trump and his family at Mar-a-Lago to watch the election results.

This election marks a major shift in Musk’s political involvement, with his massive contribution and close ties to the president-elect raising questions about the future of his companies under a Trump administration.

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