{"id":124744,"date":"2024-11-11T22:22:04","date_gmt":"2024-11-11T15:22:04","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=124744"},"modified":"2024-11-11T22:22:04","modified_gmt":"2024-11-11T15:22:04","slug":"tesla-stock-extends-rally-as-musk-trump-alliance-fuels-gains","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=124744","title":{"rendered":"Tesla stock extends rally as Musk-Trump alliance fuels gains"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->By Zaheer Kachwala<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->(Reuters) -Tesla shares extended last week&#8217;s sharp rally with a jump of over 8% on Monday, fueled by bets of the automaker benefiting from CEO Elon Musk&#8217;s close ties with U.S. President-elect Donald Trump.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->At $348.30, Tesla is expected to add nearly $87 billion to its value if gains hold. The stock has jumped nearly 28% since Trump&#8217;s election victory was declared on Wednesday, surpassing $1 trillion in market value for the first time in two years.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Tesla&#8217;s year-to-date gains were just over 1% before Trump secured his second term at the White House.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Musk has been supporting Trump for months in the hopes that his close ties to the now President-elect would position his companies to benefit under the new administration, analysts have said.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->The billionaire contributed at least $119 million to a pro-Trump spending group, federal records show.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->&#8220;As an &#8216;efficiency Czar&#8217;, Musk is likely to see this as an opportunity to sweep away red tape and streamline regulation&#8221;, potentially helping his companies that are &#8220;at the forefront of technological innovation&#8221;, said Susannah Streeter, head of money and markets at Hargreaves Lansdown.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->From Tesla&#8217;s electric vehicles to SpaceX rockets and Neuralink brain chips, Musk&#8217;s business ventures depend heavily on government regulation, subsidies or policy.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Tesla&#8217;s self-driving technology has been under scrutiny from safety regulators as Musk attempts to shift the company&#8217;s focus towards autonomous driving and robotaxis.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->In September, Trump said he would establish a government efficiency commission headed by Musk to cut federal spending.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Musk&#8217;s potential influence in the government could be significant for his other ventures, such as the Starlink broadband system, owing to his role as a major contractor with the U.S. Department of Defense.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Streeter said claims of &#8220;preferential treatment&#8221; have the potential to end up in court, but given the litigation route is long and difficult, Musk&#8217;s businesses have plenty of time to benefit.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Trump has also vowed to pare back certain EV incentives of the Biden administration, but startups are likely to take a bigger hit than Tesla because of the automaker&#8217;s heft in the market, analysts have said.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->(Reporting by Zaheer Kachwala in Bengaluru; Editing by Devika Syamnath)<!-- HTML_TAG_END --><\/p>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/finance.yahoo.com\/news\/tesla-stock-extends-rally-musk-121119618.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Zaheer Kachwala (Reuters) -Tesla shares extended last week&#8217;s sharp rally with a jump of over 8% on Monday, fueled by bets of the automaker benefiting from CEO Elon Musk&#8217;s &hellip; 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