Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Top 5 moments from Charlie Kirk’s memorial service...
Trump set to approve TikTok deal ensuring majority-American...
Harris is speaking. This time, she isn’t bending...
Hamas letter to Trump asks for 60-day ceasefire...
Trump must make UN funding conditional on real...
Democrats skip Charlie Kirk Arizona memorial after 58...
‘Due to overhelming support:’ Turning Point USA says...
Thune slams Democrats’ ‘cold-blooded partisan’ tactics as funding...
Macron stakes anti-Trump global role with Gaza initiative...
Trump assassination attempt suspect Ryan Routh questions first...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Business

Tesla, Bitcoin and Truth Social boom in election aftermath

by admin November 8, 2024
November 8, 2024
Tesla, Bitcoin and Truth Social boom in election aftermath

The value of assets tied to Donald Trump — and those likely to benefit under his administration — surged in the wake of his decisive electoral victory on Tuesday.

Leading the way was Trump Media and Technology Group, the company that owns the Truth Social media platform. Its stock closed up 6% in Wednesday trading. Trump is the majority owner of the company.

Shares of Tesla, the electric automaker owned by Elon Musk, also rose sizably — up 15%. Musk was heavily involved in promoting Trump’s campaign, and the president-elect has indicated he would appoint Musk, the world’s richest person, to a Cabinet-level position tasked with tackling perceived government waste.

And the price of bitcoin increased 9%, touching an all-time-high of nearly than $76,000. Cryptocurrencies and companies in the crypto space generally had broad gains Wednesday.

Trump has promised to reduce government oversight of the cryptocurrency industry, which provided a steady stream of funds to his campaign, and to a lesser extent his Democratic rival, Vice President Kamala Harris, throughout the presidential race. Trump served as keynote speaker at this year’s annual Bitcoin conference in Nashville.

In a note to clients Wednesday, Isaac Boltansky, managing director and director of policy research at BTIG, a financial services firm, noted several other sectors are likely to benefit from a second Trump presidency, including private prisons, fossil fuel, nuclear and clean coal, defense industry firms and online consumer finance firms that may have otherwise been subject to close regulatory scrutiny.

Trump has generally pledged to extend or enact major tax cuts while loosening regulations, something that the business community is set to embrace. Stocks across the board rose Wednesday in anticipation of stronger economic growth.

This post appeared first on NBC NEWS

previous post
Election night winners and losers: 2024 edition
next post
Argentina Lithium Announces Amendment to the Terms of the Non-Brokered Private Placement Using The Listed Issuer Financing Exemption

You may also like

Starbucks union votes to authorize strike ahead of...

December 19, 2024

Netflix shares soar as company reports surging revenue,...

January 23, 2025

Store closures hit highest level since pandemic —...

January 25, 2025

Boeing delivers most airplanes since late 2023 after...

July 9, 2025

Embraer CEO says jet maker studying possibilities for...

October 21, 2024

Nintendo Switch 2 retail preorder to begin April...

April 21, 2025

It’s Elon Musk’s turn for a ‘fork in...

April 23, 2025

Taco Bell to roll out AI drive-thru ordering...

August 2, 2024

How Fanatics is teaching business acumen to pro...

June 25, 2025

Chinese tea chain Chagee files for U.S. initial...

March 28, 2025

Recent Posts

  • Top 5 moments from Charlie Kirk’s memorial service in Arizona
  • Trump set to approve TikTok deal ensuring majority-American investor control: White House
  • Harris is speaking. This time, she isn’t bending to Biden’s bullies
  • Hamas letter to Trump asks for 60-day ceasefire deal to release half of hostages, sources say
  • Trump must make UN funding conditional on real reforms, ex-diplomat urges

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (927)
    • Investing (3,032)
    • Politics (3,709)
    • Stock (4)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 Sightful Invest. All Rights Reserved.