Tesla shares jump 14% as investors anticipate benefits from Trump's election win
Tesla shares rose 14.8% on Wednesday following Donald Trump's election win, as investors anticipate benefits for the company under a Trump administration. This includes potential reductions in subsidies for electric vehicles, which may disadvantage smaller competitors. 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 challenging year with declining sales and profits earlier, Tesla's profit increased by 17.3% in the third quarter. The company is under investigation for its "Full Self-Driving" system after reports of crashes.