Musk "wins"! Trump's victory boosts Tesla's (TSLA.US) stock price before the market open

Before the market opened on Wednesday, Tesla (TSLA.US) jumped more than 15% as investors bet the electric car maker run by Elon Musk will be one of the biggest beneficiaries of a Trump victory. Musk has arguably been the most prominent Trump supporter in this election cycle, providing more than $130 million in support and playing a key role in the Trump campaign's efforts to woo undecided voters in swing states.

"A Trump win is the biggest positive for Tesla and Musk," said Wedbush Securities analyst Daniel Ives, who noted that the company would have a competitive advantage over other automakers if the U.S. government reduced tax incentives for electric vehicles. "A Trump win could add 40-50 dollars to Tesla's stock price."

Analysts also expect the election to bring more car sales for Tesla, more advertising orders for its social media platform X and more support for Musk's U.S. space exploration company SpaceX.