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Tesla Will Benefit From Trump Presidency

Wedbush Securities analyst Dan Ives recently shared a rather interesting prediction for Tesla.


According to the analyst, a potential Trump presidency would actually be bullish for Tesla, even if negative for everyone else in the electric vehicle sector.


Tesla stock performance during Trump's presidency



Ives' comments were shared during a segment on CNBC's Last Call. In the midst of his current presidential campaign, former President Donald Trump has so far been mostly against electric vehicles.


However, he has also said he is a “fan of Elon.” “I like Elon, and I think a lot of people are going to want to buy an electric car,” Trump said at a rally earlier this month.


Elon Musk has repeatedly emphasized this, even saying that the former president was “very nice” and that he called him “out of the blue for no reason.”


Musk concluded that Trump's positive attitude toward Tesla may be due in part to the fact that some of the former president's friends may now own Teslas. He also noted that Trump is "a big fan of the Cybertruck."



Given Trump’s typically anti-electric vehicle rhetoric, it was no surprise that the Wedbush analyst was asked whether the former president’s potential efforts to eliminate electric vehicle incentives could benefit Tesla. I've noted that a Trump presidency would actually be positive for Tesla.



We see that the change in Trump's statements regarding electric cars may be due to the fact that part of his election campaign financiers are investors in shares of electric car companies, led by Tesla. Of course, Elon Musk himself may be one of those financiers of Trump's campaign for the presidency.


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