Shares in Elon Musk’s Tesla Group jumped more than 15% in pre-market trading on Wall Street today, boosted by the billionaire’s outspoken support for Donald Trump, who has declared victory in the US presidential election.

Around 12:10 (Greece time), the automaker’s stock was up 15.11% at $289.44 on the Nasdaq in premarket trading, an indication of trends before the start of the session. stock market.

This increase is part of the good momentum of the US stock indexes, which recorded a significant increase in pre-congress trading after the Republican candidate declared his victory in the presidential election today.

“Tesla’s stock is rising (…) because of Elon Musk’s privileged ties to Donald Trump,” who “owes him a lot,” Saxobank market analyst Andrea Tueni told AFP.

Musk, Tesla’s chief executive, has shown his unequivocal support for Donald Trump throughout the campaign, donating tens of millions of dollars through his America PAC and repeatedly appearing at the Republican candidate’s rallies.

The latter also praised him today in his victory speech.

“We have a new star. A new star is born: Elon,” he declared to a crowd of supporters. “We are together tonight (…) He is a personality, a special guy. He’s a super genius,” Trump added.

According to Twoney, investors are “betting that” this proximity of the two men “will translate into something positive for Tesla.”