Why Tesla Stock Is Surging Today

Tesla (NASDAQ: TSLA) stock is making big gains in Wednesday's trading. The electric vehicle (EV) company's share price was up 5.4% as of 3 p.m. ET amid the backdrop of a 0.2% decline for the S&P 500 index and a 0.1% gain for the Nasdaq Composite index.Despite pressures from higher-than-expected inflation data for January, Tesla's valuation is climbing higher today thanks to political catalysts. In addition to a presentation held by CEO Elon Musk and President Donald Trump at the White House yesterday, the EV stock is also getting a boost from new legislation recently proposed by Republican senators.At the Oval Office yesterday, Trump said that he was signing an executive order that would give expanded powers to the Department of Government Efficiency (DOGE) that Musk is leading. The new order will see federal agencies coordinating and consulting with DOGE on job cuts and making adjustments to limit additional hiring.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool