Wednesday, January 22, 2025
Trump fanboys see share prices rise after inauguration
Well the conversion of the big Tech companies to the cause has gone very well for them. Political alliances are already seeing US-based businesses step further into the limelight, with Elon Musk in particular a regular face - and voice - throughout Trump’s campaign but it’s not just Musk who has been involved, with former White House chief strategist labelling the Tesla boss, Jeff Bezos and Mark Zuckerberg “supplicants” who “surrendered” to the incoming president.
The paper takes a look at the so-called Magnificent Seven - Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla - whose growth has fuelled the stock market rise across the Atlantic over the past two years, how their share prices have performed in the week up to Trump’s presidency and what happens next as the stock markets reopen after Martin Luther King Jr Day.
Alphabet, the company formerly known as Google has seen almost a 16 per cent rise in share price from when Trump was confirmed.
A 13 per cent rise for Amazon since Trump’s victory has been added to by a more short-term, but still notable, rise of 3.2 per cent in the week before he takes office.
Meta which donated $1m to Trump’s inaugural fund has seen its share price rise by seven per cent since the vote came in and flat across the last week ahead of Trump’s arrival. The company remains flat ahead of Tuesday trading, up 0.1 per cent.
Microsoft shares are up four per cent since decision day and 2.4 per cent in the past week.
The biggest winner in share price terms since Trump claimed election victory, however, is Musk-led vehicle manufacturer, Tesla.
A share price of $251 on 5 November 2024 has ballooned to $426 at close of play on 17 January - a massive 69 per cent share price increase in under three months, leaving Tesla’s market capitalisation value at almost $1.4tn (£1.14tn).
The Independent adds that even in the past week, the price is up more than three per cent.
Only Apple and Nvidia are failing to show a notable boost in share price since Trump was confirmed. Quite an interesting outcome. I wonder if other businesses will benefit as well.
The Independent adds that even in the past week, the price is up more than three per cent.
Only Apple and Nvidia are failing to show a notable boost in share price since Trump was confirmed. Quite an interesting outcome. I wonder if other businesses will benefit as well.
