Tesla stock hits record, boosted by 69% pop since Trump victory [Video]

Tesla shares jumped to an all-time high on Wednesday, surpassing their prior record reached in 2021, sparked by a post-election rally and Wall Street’s increased enthusiasm for Elon Musk’s electric vehicle company.

The stock rose to a closing high of $424.77, which is about $15 above its previous peak of $409.97 on Nov. 4, 2021.

Tesla’s market value has swelled by about 71% this year, with almost all of those gains coming since Donald Trump’s election victory early last month. The stock’s 38% rally in November marked its best monthly performance since January 2023 and its 10th best on record.

Musk poured $277 million into a pro-Trump campaign effort, according to Federal Election Commission filings, and turned his support for the Republican nominee into another full-time job ahead of the election, funding a swing-state operation to register voters and using his social media platform X to constantly tout his preferred candidate, frequently with misinformation.

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