Tesla stock rises 30% in 2024 following Trump's election win

Tesla's stock has surged about 30% in 2024, reaching a market cap of $1 trillion following Donald Trump's election win. Analysts view this as a positive development for Tesla, despite concerns about the overall impact on the electric vehicle industry. The company's third-quarter earnings rose unexpectedly by 9%, ending a streak of declines. Tesla plans to produce more affordable models starting in 2025 and has ramped up incentives to boost sales, while also facing scrutiny from regulators regarding its Full Self-Driving technology. As of November 11, Tesla's stock is trading at $346.90, with analysts raising price targets amid expectations of favorable regulatory changes. The stock ranks highly among peers, reflecting strong investor interest despite ongoing challenges in the market.