Comment on Market winners and losers as Donald Trump triumphs in the presidential race

Market winners and losers as Donald Trump triumphs in the presidential race

Tesla and Trump Media & Technology Group shares are surging after Trump's victory.Lisa O'Connor/AFP/Getty Images; Chris Carlson/APDonald Trump's presidential win boosted his social media company, Tesla, and cryptocurrencies.Banking stocks also gained, while clean-energy companies tumbled.Trump is expected to pursue tax cuts and deregulation in his second term.Donald Trump's victory in the presidential election boosted shares of his social media company, Elon Musk's Tesla, as well as cryptocurrencies and related stocks on Wednesday.The former president's reelection sent renewable-energy stocks tumbling in premarket trading as traders bet his administration would be less friendly in terms of subsidies and regulation.Shares of Trump Media & Technology Group surged as much as 62% to $55 as investors wagered Truth Social's parent company, which counts Trump as its largest shareholder, would benefit from his second term.

 

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