Tesla shares jump 14% as investors anticipate benefits from Trump victory

Tesla shares rose 14.8% on Wednesday following Donald Trump's election victory, as investors anticipate benefits for the company under a Trump administration. Analysts suggest that reduced subsidies for electric vehicles could disadvantage smaller competitors while favoring Tesla. Rival electric vehicle makers saw declines, with Nio down 5.3%, Rivian dropping 8.3%, and Lucid Group falling 5.3%. Tesla currently holds a 48.9% market share in the U.S. electric vehicle market. Despite a rocky year with declining sales and an ongoing investigation into its "Full Self-Driving" system, Tesla's stock has gained 16.1% this year. The company reported a 17.3% profit increase in the third quarter.