Elon Musk Bet the Farm on Donald Trump. Will the Billionaire's Gamble Pay Off for Tesla Stock or Is a Pullback on the Horizon?

Elon Musk made a big bet on Donald Trump this year. He vocally supported him on his platform X (formerly Twitter), donated $119 million through a political action committee supporting Trump, and spoke at his rallies.Now, Musk's gamble has seemingly paid off, and the billionaire is likely to share in the spoils. But the bigger question surrounds his company Tesla (NASDAQ: TSLA). The stock is up 23% since Trump's election victory. Will his presidency continue to benefit Tesla stock, or is a pullback on the horizon? Let's take a look.The interesting thing about Musk's endorsement of Trump is that it seemed to be working against Tesla on the surface. During the campaign, Trump discussed potentially eliminating a $7,500 tax credit for purchasing an electric vehicle (EV).Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool