Tesla shares soared 12% in premarket trading following NBC News' projection of Donald Trump’s election victory, sparking investor bets on benefits for CEO Elon Musk. Musk recently donated nearly $75 million to America PAC, a super PAC supporting the Republican nominee. Tesla has underperformed on the S&P 500 this year with only a 1.2% gain. The stock rebounded 3.5% in Tuesday’s trading, ending a six-day losing streak. Wedbush’s Dan Ives highlighted potential advantages for Tesla under Trump, including fewer EV subsidies that could limit Chinese competition in the U.S. market.
