Quick access to main page (top) Direct access to main contents Quick access to main page (bottom)

Elon Musk’s Public Support for Trump Sends Tesla Shares Skyrocketing

Daniel Kim Views  

Tesla’s shares surged over 6% after its CEO, Elon Musk, publicly expressed support for former U.S. President Donald Trump following the shooting incident last Saturday.

As of 10:40 a.m. on Monday, Tesla (TSLA) was trading at $265.58 on the New York Stock Exchange, up 6.99% from the previous trading day’s close. This surge came after Musk officially endorsed Trump following an attempted assassination on Saturday.

On X, formerly Twitter, Musk wrote, “I fully endorse President Trump and hope for his rapid recovery, “sharing a video of Trump raising a clenched fist despite bleeding from a wound above his right ear.

He followed up with a more detailed commendation, evoking the image of historical resilience by stating, “Last time America had a candidate this tough was Theodore Roosevelt.”

Following the shooting incident, many foreign media outlets have predicted a higher possibility of Trump winning the election, as the recent incident is expected to unite the Republican party and its supporters as well as the swing voters.

Trump has strongly criticized President Joe Biden’s electric vehicle and green policy, leading to mounting concerns that he will withdraw subsidies and tax benefits for electric cars upon his return to the White House. However, Musk’s support dispersed some of these concerns, contributing to the rise in stock prices.

Last Friday, Bloomberg reported that Musk has committed significant funds to a pro-Trump super PAC. His public endorsement has led to a more positive outlook that Trump’s re-election could be a boon for Tesla.

According to Forbes, investors, in particular, believe that Trump’s proposed tariffs on Chinese imports could help Tesla maintain its leading market share in the domestic EV market. Tesla’s stock price soared over 6%, fell gradually, but closed the day with a gain of over 1%.

Daniel Kim
content@viewusglobal.com

Comments0

300

Comments0

[BUSINESS] Latest Stories

  • Honda's NSX Returns: A 1,000-Horsepower Electric Rival to Lexus LFR
  • Honda’s S7 Electric SUV: A Major Player in the Race for EV Dominance
  • Lamborghini's First EV: A 2,000-Horsepower Beast Built for Speed and Emotion
  • Ford Revives Classic Design with the 2025 Bronco Heritage Edition
  • ID.EVERY1: Volkswagen's $21K Electric Vehicle Aims to Make Green Driving Accessible
  • Toyota’s bZ3X SUV Surges with 10,000 Pre-Orders: A New Era in EVs

You May Also Like

  • 1
    Why Olive Oil is the Ultimate Wellness Food You Shouldn't Overlook

    LIFESTYLE 

  • 2
    Is Barefoot Walking the Secret to Better Circulation and Less Stress?

    LIFESTYLE 

  • 3
    Actress Swears by Morning Saltwater—Doctors Say Don’t Overdo It

    LIFESTYLE 

  • 4
    Sweet and Salty? Tastes Great, But Here's What It's Doing to Your Body

    LIFESTYLE 

  • 5
    Yogurt: Diet Savior or Sneaky Saboteur? Here's What You Should Know

    LIFESTYLE 

Popular Now

  • 1
    Blackberries vs. Raspberries: Which Berry Is the Low-Calorie King?

    LIFESTYLE 

  • 2
    Why Some People Gain Weight on Salads—and Others Don’t

    LIFESTYLE 

  • 3
    This Vitamin Could Help You Fight Fatigue, Infections, and More

    LIFESTYLE 

  • 4
    Olive Oil on an Empty Stomach – Hype or Health Miracle?

    LIFESTYLE 

  • 5
    Why Guava Is a Must-Have for Anyone Watching Their Blood Sugar

    LIFESTYLE 

Must-Reads

  • 1
    Why Olive Oil is the Ultimate Wellness Food You Shouldn't Overlook

    LIFESTYLE 

  • 2
    Is Barefoot Walking the Secret to Better Circulation and Less Stress?

    LIFESTYLE 

  • 3
    Actress Swears by Morning Saltwater—Doctors Say Don’t Overdo It

    LIFESTYLE 

  • 4
    Sweet and Salty? Tastes Great, But Here's What It's Doing to Your Body

    LIFESTYLE 

  • 5
    Yogurt: Diet Savior or Sneaky Saboteur? Here's What You Should Know

    LIFESTYLE 

Popular Now

  • 1
    Blackberries vs. Raspberries: Which Berry Is the Low-Calorie King?

    LIFESTYLE 

  • 2
    Why Some People Gain Weight on Salads—and Others Don’t

    LIFESTYLE 

  • 3
    This Vitamin Could Help You Fight Fatigue, Infections, and More

    LIFESTYLE 

  • 4
    Olive Oil on an Empty Stomach – Hype or Health Miracle?

    LIFESTYLE 

  • 5
    Why Guava Is a Must-Have for Anyone Watching Their Blood Sugar

    LIFESTYLE 

Share it on...