Tesla shares rise after Elon Musk-backed Donald Trump wins US elections

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By how much did Tesla stock rise?

The after-hours consolidated last trade value of Tesla stock on the Nasdaq hit $258.69, which is a 6.53% or $15.85 rise.

The after-hours high was $265.49 as at 7:36 pm ET.

This comes after Tesla stock closed on the New York Stock Exchange at $251.44, which was a 3.54% or an $8.60 uptick compared to the previous close.

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Elon Musk and Donald Trump

Elon Musk’s support of Donald Trump started officially around late 2022 when Trump announced his candidature in the upcoming elections. This however, came after a relationship which varied on so many levels starting off as Musk being politically neutral, to being critical of Trump, and to endorse him fully.

Musk had also reinstated Trump’s banned X account in the same year right around the time he bought the social media platform. For this, he made a poll which found out 51.8% of the respondents wanted the ban to be removed.

He even donated $43.6 million to his pro-Trump spending group America PAC during just the first half of October, according to federal disclosures.

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