What Happened after Election Day?
Following the 2024 Election on November 5th, the stock market experienced extreme growth with many companies hitting the highest they have ever been in history. However, there is one critical company that many investors have been keeping an eye on due to its close ties with Republican President Donald Trump. Elon Musk, the founder of Tesla, has made numerous appearances in Trump rallies as well as assisting in his campaign. Throughout this last month, Tesla has seen a growth of 50% including a large surge after election day.
What is to come?
In addition, Elon Musk will have a lot of power because it has been indicated that he will be discussing important issues with Trump in the White House and may even be able to manipulate actions to benefit his company. On the other hand, many people believe that Trump will hurt the electric vehicle market as well as Tesla due to the lack of support for helping the environment, which is the main idea behind electric vehicles. Trump may remove many subsidies as well as tax credits for consumers who buy electric cars, leading to much fewer purchases of the vehicles. Trump also stated that he was going to increase tariffs on China which could hurt Tesla’s factory located in Shanghai. Elon Musk, however, says that all of Trump’s actions will only help Tesla succeed in future years even when Tesla has needed help from the Government many times in recent years.
What do investors think?
Many investors are unsure of what is to become of Tesla and its relationship with Trump. It will be exciting to see how it all plays out and may present the economy with very exciting investment opportunities from the investor’s standpoint.
Works Cited
Fast Company. 12 Nov. 2024, www.fastcompany.com/91226639/what-trump-means-for-tesla. Accessed 12 Nov. 2024.
Investors.com. 12 Nov. 2024, www.investors.com/etfs-and-funds/sectors/sp500-stocks-make-investors-trillion-richer-after-trump-win/. Accessed 12 Nov. 2024.
