• Education
    • Higher Education
    • Scholarships & Grants
    • Online Learning
    • School Reforms
    • Research & Innovation
  • Lifestyle
    • Travel
    • Food & Drink
    • Fashion & Beauty
    • Home & Living
    • Relationships & Family
  • Technology & Startups
    • Software & Apps
    • Startup Success Stories
    • Startups & Innovations
    • Tech Regulations
    • Venture Capital
    • Artificial Intelligence
    • Cybersecurity
    • Emerging Technologies
    • Gadgets & Devices
    • Industry Analysis
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy
Today Headline
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
Today Headline
No Result
View All Result
Home Technology & Startups

Tesla stock closes at highest level in over 2 years as Musk’s big Trump bet pays off

November 8, 2024
in Technology & Startups
Reading Time: 3 mins read
A A
0
2
SHARES
4
VIEWS
Share on FacebookShare on Twitter


Tesla (TSLA) surged on Friday, capping a huge week for the EV maker as the stock hit its highest close in over two years. Optimism over CEO Elon Musk’s relationship with President Trump has sent investors into a frenzy, with Tesla’s market cap now topping $1 trillion.

To be fair, stocks overall have been hitting records, with the Dow Jones Industrial Average crossing 44,000 for the first time and the S&P 500 eclipsing 6,000. But the monster move in Tesla has been one for the record books, with the stock up a whopping 29% in just five days.

Tesla stock rose 8.2% on Friday to $321.22, hitting as high as $328.70, as the company achieved a trillion-dollar valuation for the first time in over two years. Only Nvidia, Apple, Microsoft, Amazon, Alphabet, and Meta are worth more, meaning the original “Magnificent Seven” has re-formed.

Massive moves both upward and downward are not new for Tesla, though recently the stock has been moving higher after early 2024 weakness. Better Q3 earnings and deliveries, and the promise of Tesla’s robotaxi Cybercab testing in earnest next year, have fueled optimism, even before this week’s Trump-inspired stock rally.

While Musk is in charge of companies like SpaceX (which includes Starlink) and X (formerly Twitter), Tesla investors have the most to gain — or lose — from Musk’s ties to Trump.

Threats of rolling back EV tax credits by a Trump White House and GOP-led Congress were thought as headwinds to the Tesla volume growth story. Wall Street and investors are looking past that that thorny issue, for now.

BUTLER, PENNSYLVANIA - OCTOBER 05: Republican presidential nominee, former President Donald Trump offers his hand to Elon Musk back stage during a campaign rally at the Butler Farm Show grounds on October 05, 2024 in Butler, Pennsylvania. This is the first time that Trump has returned to Butler since he was injured during an attempted assassination on July 13.  (Photo by Anna Moneymaker/Getty Images)
President-elect Donald Trump offers his hand to Elon Musk backstage during a campaign rally at the Butler Farm Show grounds on Oct. 5, 2024, in Butler, Pa. (Anna Moneymaker/Getty Images) · Anna Moneymaker via Getty Images

“Tesla has the scale and scope that is unmatched in the EV industry, and this dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players (BYD, Nio, etc.) from flooding the US market over the coming years,” Wedbush’s Dan Ives wrote in a note on Wednesday.

“We believe a Trump win could add $40-$50 per share to Tesla’s stock,” Ives added, noting that the company could exceed $1 trillion in market cap “if autonomous/FSD is accelerated starting in 2025.”

Beyond Tesla, because of Musk’s support of his candidacy, Trump has even promised Musk a position in his administration, suggesting Musk could head a commission to boost government efficiency.

It is because of that closeness to Trump, trade policy, and even environmental and manufacturing initiatives that Musk may have a hand in that investors are keen to bet on Tesla.

Tags: Elon MuskPresident TrumpTeslaTrump White House
Previous Post

Marcos signs 2 key sea laws

Next Post

Vertex Expands Credit Line to $300 Million Amid Growth By Investing.com

Related Posts

Billion dollar pizza? Bitcoin soars on key anniversary of crypto’s growth

May 22, 2025
5

House budget bill effectively kills US clean energy boom

May 22, 2025
4
Next Post
Kratos Defense stock soars to 52-week high of $25.93 By Investing.com

Vertex Expands Credit Line to $300 Million Amid Growth By Investing.com

  • Trending
  • Comments
  • Latest
Family calls for change after B.C. nurse dies by suicide after attacks on the job

Family calls for change after B.C. nurse dies by suicide after attacks on the job

April 2, 2025
Pioneering 3D printing project shares successes

Product reduces TPH levels to non-hazardous status

November 27, 2024

Hospital Mergers Fail to Deliver Better Care or Lower Costs, Study Finds todayheadline

December 31, 2024

Police ID man who died after Corso Italia fight

December 23, 2024
Harris tells supporters 'never give up' and urges peaceful transfer of power

Harris tells supporters ‘never give up’ and urges peaceful transfer of power

0
Des Moines Man Accused Of Shooting Ex-Girlfriend's Mother

Des Moines Man Accused Of Shooting Ex-Girlfriend’s Mother

0

Trump ‘looks forward’ to White House meeting with Biden

0
Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

0
Scientists find rare double-star system where one star orbited inside the other

Scientists find rare double-star system where one star orbited inside the other

May 22, 2025
Reports of Industry Interference in Pesticide Decision Must Be Investigated

Climate groups to PM Carney: Pick pipelines or climate action

May 22, 2025
vaccine

Why these young Africans are hesitant about them and what might change their minds

May 22, 2025
North Dakota governor vetoes the housing budget -- by mistake

North Dakota governor vetoes the housing budget — by mistake

May 22, 2025

Recent News

Scientists find rare double-star system where one star orbited inside the other

Scientists find rare double-star system where one star orbited inside the other

May 22, 2025
0
Reports of Industry Interference in Pesticide Decision Must Be Investigated

Climate groups to PM Carney: Pick pipelines or climate action

May 22, 2025
4
vaccine

Why these young Africans are hesitant about them and what might change their minds

May 22, 2025
6
North Dakota governor vetoes the housing budget -- by mistake

North Dakota governor vetoes the housing budget — by mistake

May 22, 2025
4

TodayHeadline is a dynamic news website dedicated to delivering up-to-date and comprehensive news coverage from around the globe.

Follow Us

Browse by Category

  • Africa
  • Asia
  • Basketball
  • Business & Finance
  • Climate Change
  • Crime & Justice
  • Economic Policies
  • Elections
  • Entertainment
  • Entrepreneurship
  • Environmental Policies
  • Europe
  • Football
  • Gadgets & Devices
  • Health
  • Medical Research
  • Mental Health
  • Middle East
  • Motorsport
  • Olympics
  • Politics
  • Public Health
  • Relationships & Family
  • Science & Environment
  • Software & Apps
  • Space Exploration
  • Sports
  • Stock Market
  • Technology & Startups
  • Tennis
  • Travel
  • Uncategorized
  • Us & Canada
  • Wildlife & Conservation
  • World News

Recent News

Scientists find rare double-star system where one star orbited inside the other

Scientists find rare double-star system where one star orbited inside the other

May 22, 2025
Reports of Industry Interference in Pesticide Decision Must Be Investigated

Climate groups to PM Carney: Pick pipelines or climate action

May 22, 2025
  • Education
  • Lifestyle
  • Technology & Startups
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy

© 2024 Todayheadline.co

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business & Finance
  • Corporate News
  • Economic Policies
  • Entrepreneurship
  • Market Trends
  • Crime & Justice
  • Court Cases
  • Criminal Investigations
  • Cybercrime
  • Legal Reforms
  • Policing
  • Education
  • Higher Education
  • Online Learning
  • Entertainment
  • Awards & Festivals
  • Celebrity News
  • Movies
  • Music
  • Health
  • Fitness & Nutrition
  • Medical Breakthroughs
  • Mental Health
  • Pandemic Updates
  • Lifestyle
  • Fashion & Beauty
  • Food & Drink
  • Home & Living
  • Politics
  • Elections
  • Government Policies
  • International Relations
  • Legislative News
  • Political Parties
  • Africa
  • Asia
  • Europe
  • Middle East
  • Artificial Intelligence
  • Cybersecurity
  • Emerging Technologies
  • Gadgets & Devices
  • Industry Analysis
  • Basketball
  • Football
  • Motorsport
  • Olympics
  • Climate Change
  • Environmental Policies
  • Medical Research
  • Science & Environment
  • Space Exploration
  • Wildlife & Conservation
  • Sports
  • Tennis
  • Technology & Startups
  • Software & Apps
  • Startup Success Stories
  • Startups & Innovations
  • Tech Regulations
  • Venture Capital
  • Uncategorized
  • World News
  • Us & Canada
  • Public Health
  • Relationships & Family
  • Travel
  • Research & Innovation
  • Scholarships & Grants
  • School Reforms
  • Stock Market
  • TV & Streaming
  • Advertise with Us
  • Privacy & Policy
  • About us
  • Contact

© 2024 Todayheadline.co