- By Aditya Pratap Singh
- Wed, 06 Nov 2024 03:46 PM (IST)
- Source:JND
Tesla Share Price: As Republican Party candidate Donald Trump won the 2024 US presidential election, Elon Musk's company stock soared amid heavy buying. Musk has been one of the most vocal supporters of Republican presidential candidate Donald Trump, and after Trump's victory, Tesla shares reached a 52-week high. On NASDAQ, the shares were trading at $251.44, up 3.54% from the previous closing value.
Elon Musk has been the biggest contributor and most vocal supporter of Trump's re-election campaign. He not only appears on stage at rallies, but he also gives away cash prizes to potential Republican voters. According to Bloomberg, Tesla's CEO was Trump's most prominent supporter during this election cycle, spending more than $130 million supporting the Republican. He was also a tireless messenger supporting the GOP and attacking Democrats on his social media network. He also used his social media platform X to drum up support for the Trump campaign.
Domestic Stock Market
Musk first endorsed Trump as a presidential candidate in July 2024, shortly after the assassination attempt. Musk said that Trump needed to win to preserve democracy and suggested Ohio Senator JD Vance as Trump's potential running mate. Earlier, Musk also made his debut at a political rally in Butler, Pennsylvania, the site of the assassination attempt.
Stock markets rose more than 1 percent on Wednesday and the benchmark Sensex climbed 901 points. Stock markets rose due to heavy buying in IT and pharma stocks. Donald Trump's victory in the US presidential election is certain. The BSE Sensex continued its rise for the second day. The Sensex jumped 901.50 points or 1.13 per cent to close at 80,378.13. During trading, it rose 1,093.1 points or 1.37 per cent to reach 80,569.73. The NSE Nifty closed at 24,484.05, up 270.75 points or 1.12 per cent. Among the 30-stock Sensex stocks, Tata Consultancy Services and Infosys rose more than 4 per cent. HCL Technologies, Tech Mahindra, Adani Ports, Larsen & Toubro, Maruti and Reliance Industries were also among the big gainers.
