Tesla shares rose significantly during trading on Friday, rising by more than 7%, benefiting from positive developments in the US political arena that supported demand for the company's shares and returned its market value to the trillion-dollar barrier, for the first time since 2022.
This remarkable rise in Tesla shares is due to the victory of former US President Donald Trump in the presidential elections and his success in returning to the White House, which strengthened expectations in the markets about the possibility of billionaire Elon Musk's companies receiving preferential treatment as a result of his support for Trump during his election campaign.
This mutual support comes within the framework of the strong relations between Musk and Trump, as investors expect Musk's companies, including Tesla, to benefit from favorable economic policies that Trump may adopt in his new presidential term, which prompted markets to re-evaluate the company's future positively.
In terms of trading, Tesla (NASDAQ: TSLA) shares listed on the Nasdaq Stock Exchange (NASDAQ: TSLA) rose by 7.05%, equivalent to $20.94, to trade near $317.85 levels. This strong rise was driven by investor optimism about Tesla’s ability to benefit from potential government support for the sectors in which the company is present, which would strengthen its position and increase its competitiveness in the global market.
