Shares of Tesla rose 8 percent in trading on the Robinhood trading platform overnight as investors hoped for an election victory Donald Trump arrange. CNBC reportsThat – this is Elon Musk”>Elon Musk, CEO TeslaTrump recently pledged $75 million in support. According to Trump, Musk will lead government offices for efficiency if he wins the election and promised to cut the federal budget by two trillion dollars.
After donations to Trump's super PAC, Tesla shares rose — despite Trump's unfriendly stance toward the electric car industry.
Wedbush sees Tesla benefiting if Trump wins the election
Dan Ives of Wedbush Securities sees a possible Trump victory in the election as a real boon for Tesla. Although Trump is famously skeptical of electric vehicles, Ives thinks Tesla could become dominant without subsidies. CNBC quoted him as saying: “Tesla has unmatched scale and reach in the electric vehicle industry.”