Tesla’s stock was rallying 5% in recent trading, and has now run up 72.8% since the election.
CEO Elon Musk’s cozying up to Trump has provided a $587.83 billion boost to the EV giant’s market cap since the election, amid hopes Musk can influence Federal rule-making that helps accelerate Musk’s robotaxi ambitions.
That Trump bump in market cap is by far the most of the so-called Magnificent Seven tech giants. The next closest is the $321.45 billion increase in Alphabet’s market cap, followed by the $280.12 billion gain in Amazon’s value.
Only one of the Mag 7 has suffered a Trump dump, as Nvidia’s market cap has lost $55.35 billion since the election.