Tesla's market value has risen by $300 billion since Trump's victory
2024-11-11 21:57:17
Tesla (TSLA. O) has rallied 39% since Trump's election victory on Nov. 5, adding more than $300 billion to its market capitalization. On Monday, Tesla jumped as much as 12%. Market professionals point out that Tesla is a classic "momentum" stock, and its gains and losses can quickly snowball when investor sentiment turns sharply in either direction. "The rally we're seeing is close to a ridiculous pattern," said Steve Sosnick, chief strategist at Interactive Brokers. Options traders are betting that Tesla will rise further, with the premium for 3-month calls over puts at its highest level since early 2021, and a slew of contracts expecting prices to rise to $450 and above, putting Tesla shares on track to surpass an intraday all-time high of $414.50.
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