Tesla’s stock price experienced a remarkable 12% jump after former President Donald Trump praised Elon Musk in a recent election-night speech, calling the tech magnate a “genius.” Trump’s comments electrified the stock market, drawing the attention of investors and triggering a fresh wave of enthusiasm around Tesla. In his speech, Trump spoke directly to Musk’s visionary role in technology and industry, expressing admiration for the way he has propelled Tesla to the forefront of electric vehicles and renewable energy solutions.

The former president’s endorsement of Musk as a “genius” resonated widely, particularly in financial circles, where such high praise often carries weight among market-watchers and investors alike. The remarks seemed to deliver a signal, perhaps unintentionally, that Musk remains a crucial figure in American innovation, one whose influence transcends politics and continues to shape the future of tech and mobility.

Investors responded to the endorsement almost immediately, pushing Tesla’s stock up by 12% shortly after Trump’s speech. Analysts attribute this jump to a mixture of excitement over Trump’s approval and the reinforced confidence it offers to potential shareholders. Market experts suggest that Trump’s vocal praise likely assured investors of Musk’s staying power, inspiring confidence in Tesla’s long-term growth.

Meanwhile, Tesla’s latest quarterly report, showing a year-over-year increase in earnings and a boost in vehicle deliveries, also contributed to the stock’s surge. As the company sets new production records, Musk’s ambitious plans for an electric-driven future seem more achievable, encouraging continued investment.

Elon Musk himself has not publicly responded to Trump’s comments, yet the market’s reaction speaks volumes. Tesla remains one of the most closely watched stocks on the market, and even a single comment from a public figure as influential as Trump can cause a ripple effect.