Tesla (TSLA) Stock Surges After U.S. Election, Chair Cashes Out Millions

Nov 20, 2024

Following the U.S. election results, Tesla (TSLA, Financial) shares experienced a significant surge. During this period, Tesla's Chair, Robyn Denholm, strategically sold over $35 million worth of stock. According to regulatory filings, Denholm exercised 112,390 stock options set to expire next year and sold them. After accounting for the exercise cost, she netted approximately $32.5 million from the sale.

Tesla has been one of the top-performing stocks since Donald Trump won the U.S. presidential election. The company's CEO, Elon Musk, was a prominent supporter of Trump during the campaign. Since the election on November 5, Tesla's stock price has climbed by 38%, boosting the company's market capitalization by more than $300 billion.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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