- Tesla shares rose almost 6% on Wednesday, lifting the electric vehicle maker’s stock price past its prior high reached in 2021.
- The stock, which doubled in valued last year, is up about 71% in 2024, with almost all of those gains coming since Donald Trump’s election victory last month.
- “Musk’s authentic support for Trump likely doubled Tesla’s pool of enthusiasts and lifted credibility for a demand inflection,” wrote analysts at Roth MKM in a report on Dec. 2.
Tesla shares jumped to an all-time high on Wednesday, surpassing their prior record reached in 2021, sparked by a post-election rally and Wall Street’s increased enthusiasm for Elon Musk’s electric vehicle company.
The stock rose to a closing high of $424.77, which is about $15 above its previous peak of $409.97 on Nov. 4, 2021.
Tesla’s market value has swelled by about 71% this year, with almost all of those gains coming since Donald Trump’s election victory early last month. The stock’s 38% rally in November marked its best monthly performance since January 2023 and its 10th best on record.
Source: https://www.cnbc.com/2024/12/11/tesla-reaches-record-boosted-by-64percent-pop-since-trump-election-victory.html