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Minutes after the assassination attempt on President Trump…
Tesla CEO Elon Musk posted his endorsement.
Elon has been critical of President Biden. And Biden hates that Tesla doesn’t employ union workers.
Tesla, SpaceX and Starlink have all been targeted by the Biden administration with regulatory investigations and canceled contracts.
So, it’s not surprising that Elon would choose to support President Trump in the 2024 election.
Tesla’s growth prospects could be impacted by who wins the November Presidential Election. There are two major issues…
First, Tesla buyers can receive a generous $7,500 federal tax credit. This makes the EVs much more affordable. It’s important that these tax credits continue.
Second, Tesla wants the government to have high tariffs on Chinese EVs. Low-priced EV imports would steal business from Tesla.
President Trump and Elon had public disagreements a couple years ago.
However, the relationship appears to be improving recently. Trump may be considering an “advisory role” for Elon if he wins in November, according to the Wall Street Journal.
Shares of TSLA were up 6% this morning and trading at nearly $263.
The stock may be reacting to the idea that…
- Trump is better for Tesla
- Elon Musk is aligning himself and his businesses with the former president
- Trump’s likelihood of winning has increased considerably after the debate and assassination attempt
Ian