Shares of Tesla(NASDAQ:TSLA) shot higher on Tuesday, rising 4.5% as of 11 a.m. EST.
The growth stock’s gain is likely due to both an optimistic day in the overall market and news that the Trump administration is officially beginning the transition process for President-elect Joe Biden. A Democratic Biden administration is largely viewed as a net positive for green energy companies like Tesla.
Image source: Getty Images.
Under the Obama administration, qualifying buyers of Tesla…