Tesla Stock Extends Rally as Musk-Trump Alliance Fuels Gains

DONALD TRUMP - NEW YORK. Tesla shares extended last week's sharp rally with a jump of over 8% on Monday, fueled by bets of the automaker benefiting from CEO Elon Musk's close ties with U.S. President-elect Donald Trump.

At $348.30, Tesla is expected to add nearly $87 billion to its value if gains hold. The stock has jumped nearly 28% since Trump's election victory was declared on Wednesday, surpassing $1 trillion in market value for the first time in two years.