Tesla stock soars 28% after Trump's election win, short-sellers face $5.2 billion losses
qz.com —
Tesla's stock has surged nearly 28% since Donald Trump's election win, pushing its market value back over $1 trillion. This rally has resulted in significant losses for short-sellers, totaling at least $5.2 billion. Elon Musk, a close ally of Trump, has been actively supporting the new administration. He founded a super PAC for Trump's re-election and may influence regulations on driverless vehicles, benefiting Tesla while potentially disadvantaging competitors. Trump's victory may lead to a freeze on provisions from the previous administration's Inflation Reduction Act, which offered tax credits for electric vehicles. Musk has expressed support for ending these credits, believing it would boost Tesla's sales.