Tesla shares closed at an amazing $418.20 Thursday afternoon. Shares are up 145% over the last six months, and up $166 since November 1st. After the election, Tesla stocks continued to rise, and on November 11th, we saw a huge increase from $299 on the 8th to $346. Many attributed the success of the shares with the election of President Donald Trump. Elon Musk “fully endorse(d)” Donald Trump on July 13th after the unsuccessful assassination attempt.
Tesla shares opened at just above $255 the Monday after the assassination attempt. Just a few weeks later, shares dropped just below $190 on August 5th. Stock prices bounced around over the next several weeks, with spikes after shareholders calls, and drops after new product announcements.
Elon Musk officially endorsed Donald Trump after the assassination attempt in July 2024.
But ultimately, while prices have been on a steady incline over the last few months, Tesla has benefited from its strong profits and future in the U.S. economy. While President Trump has appointed Musk co-head of the newly created D.O.G.E. (Department of Government Efficiency), Musks focus with Tesla remains about building a stronger, more accessible product.
While the new Tesla Cybertruck has had its ups and downs, it remains a strong seller for the company. Tesla also announced a new Cybercab and Cyberbus that is fully autonomous in October. Prices actually fell for the Tesla stock after the announcement but quickly regained momentum in late October. Tesla continues to provide strong software and forward-looking products, even if it has had multiple rounds of layoffs in 2024.
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