Elon Musk has a seat at the Donald’s table, and investors seem to like it
This is a good time to be Elon Musk. Shares in the billionaire’s Tesla Motors have surged 40% since December 1, putting the stock within reach of a 52-week high. The acquisition of SolarCity is complete. Musk’s sprawling Gigafactory is now producing battery cells. And the clean-energy evangelist has the ear of a surprising fellow in Washington — President Donald Trump. All of this adds up to a dramatic change in fortune from 2016, when there was scepticism about whether Musk could juggle his ambitious goals. Tesla’s shares crossed above analysts’ 12-month price target this week and are trading at about $254, the highest since April. One factor — progress towards production of the mass-market Model 3 electric car by year-end — has burnished Musk’s appeal as an adviser to the new president. "Tesla is a poster child for Made in the USA, and the one thing that is a clear focus for Trump is creating manufacturing jobs," said Ben Kallo, an analyst at Robert W Baird. "Investors want to own...
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