Tesla's stock market value reaches $1 trillion following the Trump election victory.
- On Friday, Tesla's stock price increased by more than 6% during mid-morning trading, surpassing $1 trillion in market capitalization for the first time.
On Friday, the market cap of Tesla surpassed $1 trillion for the first time as shares of the electric vehicle maker increased by more than 6% in mid-morning trading.
Tesla's stock has surged by 27% this week following the election of President-elect Donald Trump, with investors hopeful that the former president's return to the White House could benefit the company. Elon Musk, CEO of Tesla, has been a staunch supporter of Trump throughout his campaign, investing at least $130 million in a pro-Trump campaign effort.
Tesla's market cap reached $807.1 billion through Tuesday's close. Despite a 1% increase in shares for the year prior to this week's rally, Tesla's stock is now up approximately 26% year to date.
-- CNBC's Lora Kolodny contributed to this report.
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