Tesla stock rises seven percent after Trump endorsement

Tesla's stock rose about seven percent after Donald Trump endorsed the company, following a previous decline. Shares closed at $230.58 on Tuesday and opened higher on Wednesday, recovering from a 15 percent drop earlier in the week. Trump's endorsement comes amid concerns about Tesla's recent struggles, including increased competition and sluggish sales. Critics have raised ethical issues regarding the endorsement, suggesting it resembles a government bailout. Despite these challenges, analysts remain optimistic about Tesla's future in the autonomous vehicle market. Elon Musk announced plans to double vehicle output in the U.S. within two years, citing Trump's policies as a factor.