According to market data, Tesla shares rose by about 14.2 percent to $287 in futures contracts on the Nasdaq index, which reveals the market direction before the start of the trading session.
This increase is part of a good dynamism for American stock exchanges, which rose significantly in pre-opening trading since the Republican candidate announced his victory in the presidential elections on Wednesday.
Andrea Tueni, a market analyst at Saxo Bank, told AFP, “Tesla shares are growing (…) due to the special ties between Elon Musk and Donald Trump,” to whom he “owes a lot.”
Musk expressed steadfast support for Donald Trump throughout the election campaign, providing tens of millions of dollars in donations through his political organization “America PAC” and appearing several times during the Republican candidate’s rallies.
Trump also praised him during the speech he delivered on Wednesday when he announced his victory in the presidential elections, saying in front of a crowd of his supporters, “We have a new star. A new star is born: Elon.” He added, “We are together tonight… He is a character, he is a special man. He is a genius.”
Tueni explained that investors are betting that this rapprochement between the two “will turn into a positive thing for the company.” Tesla“.
