Tesla gains on report Trump's team planning federal self-driving vehicle regulations

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Tesla gains on report Trump's team planning federal self-driving vehicle regulations - Channel News Asia

Quick Summary:

Tesla shares rose nearly 7 per cent in trading before the bell on Monday after Bloomberg News reported that President-elect Donald Trump's transition team was planning to set up federal regulations for autonomous vehicles.

FILE PHOTO: A Tesla Model 3 vehicle drives using FSD (Full Self-Driving) in Encinitas, California, U.S., October 18, 2023.

The steep climb has also pushed the stock's price-to-earning multiple, a common benchmark for valuing shares, well above automakers such as Ford Motor and General Motors, and even tech giants such as Apple and Nvidia.