Tesla's Market Cap Reaches $1 Trillion
Tesla's market cap surpassed $1 trillion for the first time since April 2022. The stock rose 29% last week, with a 6.9% jump in premarket trading on Monday. Elon Musk, Tesla CEO, actively campaigned for Donald Trump during the U.S. presidential election. Trump Media & Technology Group, which is owned by President-elect Trump, also experienced stock fluctuations. Other cryptocurrency-linked stocks, such as Coinbase Global, MARA Holdings, MicroStrategy, and Robinhood Markets, gained momentum as Bitcoin traded above $80,000. Monday.com, a project-management software company, declined 13% after reporting a loss in the third quarter. Autolus Therapeutics rose 9.4% after receiving FDA approval for its treatment of acute lymphoblastic leukemia.