Tesla shares jump 14% as investors anticipate benefits from Trump's election win
whyy.org —
Tesla shares rose over 14% on Wednesday following Donald Trump's election victory. Investors believe the return of Trump could benefit Tesla by reducing competition from smaller electric vehicle makers and limiting the import of cheaper Chinese EVs. Tesla currently holds a 48.9% market share in the U.S. electric vehicle market. In contrast, shares of competitors like Nio, Rivian, and Lucid Group fell significantly. The stock has gained 16.1% this year after recent fluctuations. Despite the stock surge, Tesla has faced challenges, including declining sales and profits earlier this year. An investigation into its "Full Self-Driving" system is ongoing, covering about 2.4 million vehicles.