Tesla shares surged nearly 15% Wednesday following Donald Trump's victory in the U.S. presidential election. CEO Elon Musk, a vocal Trump supporter, received mention in Trump’s early morning speech. Trump referred to Musk as a super genius, emphasizing the importance of protecting such figures. Wedbush analyst Dan Ives suggested that Trump could roll back current EV tax incentives, which could bolster Tesla’s competitive edge due to its scale and China tariff benefits. Ives predicted a Trump win could add $40-$50 per Tesla share and potentially lead to a $1 trillion market cap if FSD efforts accelerate by 2025.
