Tesla's market value surpasses $1 trillion after Musk backs Trump

Tesla's market value surpassed $1 trillion for the first time in over two years, following a 29% surge in shares after Donald Trump's election victory. The rise is linked to expectations of favorable regulatory treatment for the electric car maker. Elon Musk's support for Trump included a significant financial contribution. Tesla's shares are now up 30% year-to-date, recovering from previous declines. The company also reported growth in automotive revenue and deliveries in the third quarter. Despite the positive developments, concerns remain about potential changes in electric vehicle subsidies under Trump. Analysts caution that the recent surge in Tesla's stock may not be sustainable without substantial earnings growth.