The historic 2024 election saw an equally historic reaction from Wall Street as the US has decided its commander-in-chief for the next four years. Moreover, with plenty of companies surging in value, Tesla (TSLA), Nvidia (NVDA), and others emerge as the biggest stock winners after Donald Trump’s election win.
Elon Musk and the EV manufacturer emerged as key winners after Trump’s victory. Musk had been closely connected to the campaign and is expected to hold a small position within the incoming administration. Not just Tesla, the billionaire was part of the top 10 that saw their net worth jump by $64 billion post-election. So, what stocks got a similar boost?
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Tesla & Nvidia Lead Stock Winners as Trump is Set to Return to the White House
The United States stock market is currently surging from the results of the 2024 presidential election. Indeed, the country has seen the economic sector respond favorably, with even Bitcoin surging to a new all-time high. As JPMorgan projects big gains for investment assets, Wall Street has been thriving this week.
Tesla and Nvidia represent some of the biggest gainers after Trump’s election victory but are certainly not alone. TSLA has been the key performer, increasing 14.7% as of Thursday and trading at a $288 level. Additionally, the value increase has only been a benefit to its market cap. The company is currently at a value of $923.199 billion post-election.
Nvidia has continued to dominate the year. The AI chipmaker was up more than 175% since 2024 started, and that was only magnified after the election results. Specifically, NVDA has gained 4.07% as it continues to widen the gap, surpassing Apple (APPL) as the world’s most valuable company.
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The Trump Media & Technology Group (DJT) had been surging, up almost 6% and eyeing the $36 price level. However, many of those gains were reversed Thursday, as shares plummeted more than 290% a day after the race was finalized.
Additionally, Bank of America (BAC) and Ford Motor Company (F) are up after Tuesday’s race. The former is up as much as 8.43%, with Ford gaining almost 5.6% after the victory.
Other technology stocks have also shown a growth surge after Trump was elected. Specifically, Palantir Technologies Inc. (PLTR) is up more than 8%. As of Thursday, the company has gained more than $4.40 from the previous close to trade at a $55.53 price point.
