LESS THAN TWO months ago, shares of Tesla were on their way to just the third losing year in the electric-vehicle maker's decade-and-a-half as a public company. But after a furious rally in the last seven weeks, the stock is suddenly among the S&P 500 Index's best performers for 2024.
What happened to trigger the turnaround? Nothing at the company, where demand for its cars is still wobbly and the future looks increasingly uncertain. Rather it was what investors regard as a political masterstroke by Tesla's leader Elon Musk, aggressively supporting President-elect Donald Trump on the campaign trail and taking an unofficial role in his administration.
This story is from the December 23, 2024 edition of Financial Express Bengaluru.
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This story is from the December 23, 2024 edition of Financial Express Bengaluru.
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