In November, Tesla’s market capitalization showed the largest increase among the world’s leading companies, Reuters reports, due to expectations that the automaker will benefit from CEO Elon Musk’s close ties with US President-elect Donald Trump.
The company’s market value jumped 38.1% to $1.1 trillion last month amid reports that Donald Trump’s transition team plans to ease federal regulations for self-driving cars, which could make it easier to introduce autonomous vehicles.
Meanwhile, optimism about holiday shopping helped boost Walmart’s market value by 12.9% to $743.5 billion after the company raised its full-year sales and profit forecast for the third time, driven by increased online and offline shopping.
JPMorgan Chase’s market capitalization increased by 12.5% to $703 billion after the announcement that CEO Jamie Dimon would continue to lead the bank. Investors’ confidence that Trump’s policies would have a favorable impact on lenders’ health was also evident.