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Tesla Leaps 13% Pre-mkt, Sharing Trump's Halo; Trump Media Rallies 34%
Recommend 11 Positive 16 Negative 10 |
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Donald Trump, the Republican presidential candidate, delivered a speech at his campaign headquarters in Florida, announcing victory in the election. His loyal supporter, Tesla (TSLA.US) CEO Elon Musk, shared the halo. Tesla’s shares last swelled 13% pre-market and once hit US$285. Trump Media & Technology Group (DJT.US), the parent company of Trump's social media platform Truth Social, also tracked roiling stock price, up more than 34% before the market opened and reaching US$54. Allianz Global Investors believed that this will bode well for U.S. companies, especially small businesses with more attractive valuations, considering Trump's policy priorities are expected to focus on lowering corporate taxes and further loosening of regulation. In addition, to some extent, some technology companies may benefit from being loyal to Trump. AAStocks Financial News |
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