Trump calls Elon Musk “a new star”, Tesla shares go through the roof

Last night, Musk was already confident about Trump’s victory. Long before winning the battleground state of North Carolina, he tweeted: Game, Set, Match. So mission accomplished.

Now, hours later, Tesla is doing no harm. On the Nasdaq, Tesla shares jumped by as much as 15 percent in pre-market trading, a direct result of Musk’s support for the Trump campaign. Analysts have not forgotten that Trump wants to put Musk forward to chair a government committee on efficiency. It is no coincidence that Musk is in pole position for that post. The CEO of Tesla, X and SpaceX has donated more than $100 million to the Republican Party in recent months.

Analysts expect that a new term of office for Trump will fuel higher domestic growth. Major banks believe that interest rates will rise under Trump and are favorable.

The listed Trump Media & Technology Group, in which the 45th and 47th presidents of the United States have a majority stake, also rose by 30 percent in pre-market trading. Since the share’s low point two months ago, it has now tripled in value. Donald Trump’s stake in Trump Media & Technology Group was recently valued at approximately $5 billion.