Americans are making an election night killing on a popular stock as pollsters predict former President Donald Trump will secure a second term.
Stocks of Elon Musk’s Tesla soared in after-hours trading on Tuesday, climbing 7.5 points to an increase of more than three percent.
The after-hours volume of trades was over 4.65million, according to Market Watch.
The surge in Tesla’s stock price comes as Musk sits next to Trump at his election night party at Mar-a-Lago.
Musk had spent a whopping $119 million on his pro-Trump political action committee, America PAC, during this election alone. He has even gone as far as to claim he might announce the election result on X with Trump ‘if the votes are clear enough that there is victory.’
Pollsters have predicted that former President Donald Trump will win a second term
Stocks of Elon Musk’s Tesla soared in after-hours trading, climbing more than three percent and 7.5 points
The Tesla CEO had announced his support for the former president earlier this year, following the July 13 assassination attempt in Pennsylvania.
He has claimed that his rocket company’s ability to colonize Mars rides heavily on the Republican nominee getting back into office.
‘I feel more optimistic about it with a Trump White House than a non-Trump White House,’ the 54-year-old billionaire said, likely due to Trump’s big push into space during his first term, signing an order that aimed at returning Americans to the moon and being the first to Mars.
If Musk’s vision comes true, the first crewed mission to the Red Planet would launch in 2027 and the first human boots on the Martian landscape two years later.
He has admitted the timeline was ambitious, but suggested that electing Kamala Harris would not result in the deregulation needed to clear the way for his goal.
The SpaceX CEO argued that under President Joe Biden’s administration, it has become ‘almost illegal’ to launch space missions, despite the fact that SpaceX has launched over 300 rockets since 2020 – more than any other commercial spaceflight company.
‘It takes longer to get the permit to launch than to build a giant rocket,’ he claimed.
Musk announced his support for the former president earlier this year, and is sitting next to him at his election night party at Trump’s Mar-a-Lago estate
Since publicly endorsing Trump, Musk has appeared at his rallies and has posted incessantly in support of the former president on his X social media platform.
He claimed in one post on Monday that ‘Men are voting in record numbers,’ as he predicted a ‘massive sea change’ in Trump’s support.
Musk also shared posts from other Trump supporters and peppered his replies with American flag emojis.
He even shared a photo of himself wearing a leather jacket adorned with a voting sticker. ‘Just voted in Cameron County, Texas, home of Starbase!’ he added, referring to a facility for SpaceX.
In a controversial move, Musk also promised last month to give away $1 million daily until Election Day to people in swing states.
According to the America PAC website, 16 people, including four in Pennsylvania, have received the $1 million awards. The winners were reportedly randomly selected among those who signed a petition pledging support for free speech and gun rights.
The offer was limited to registered voters in one of seven states that will likely decide the outcome of the Nov. 5 election – Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania and Wisconsin.
The Justice Department warned Musk and his America PAC last month that the sweepstakes may violate federal law, which prohibits paying people to register to vote.
In a controversial move, Musk promised last month to give away $1 million daily until Election Day to people in swing states
Meanwhile, the former president has taken the 30 Electoral College votes in his home state of Florida.
He has also picked up wins in Kentucky, Indiana , West Virginia, Alabama, Oklahoma, South Carolina, Tennessee, Mississippi, Texas, Ohio, Louisiana, Wyoming, North Dakota, South Dakota, Nebraska, Montana, Utah and Arkansas, earning 210 electoral votes as of 11pm EST.
Vice President Kamala Harris, meanwhile, has won Vermont, Maryland, Connecticut, Massachusetts, Rhode Island, Delaware, Illinois , New Jersey, Colorado and New York, earning 113 electoral votes.
If the results remain on track, Trump is set for a much larger margin of victory against Harris this election cycle.
