This Little-Known SpaceX Investment is Soaring 35% After Trump’s Election Win

After last night’s U.S. election resulted in a victory for former President Donald Trump, major indices like the Dow Jones Industrial Average ($DOWI) and S&P 500 Index ($SPX) have reached record highs due to expectations of tax cuts and deregulation. However, concerns about potential trade tensions, particularly with China, are also emerging due to Trump's proposed tariffs, which are expected to have an inflationary effect. 

Among individual stocks and sectors, the cryptocurrency market has also reacted positively, with Bitcoin (BTCUSD) hitting an all-time high, driven by optimism about a more crypto-friendly environment under Trump's administration. Related stocks are also on the move, with Microstrategy (MSTR) soaring 11.2% and Coinbase (COIN) up 22.8%.

U.S. bank stocks are also experiencing substantial gains in the wake of Trump's win, reflecting investor optimism about looser regulations and a favorable environment for dealmaking. JPMorgan Chase (JPM) is up nearly 10% approaching midday, on pace for its biggest daily gain in years.

Tesla (TSLA) stock has surged 13%, due in part to expectations around potential deregulation and increased tariffs on foreign electric vehicles (EVs), which would benefit its domestic production. Notably, while Trump’s relationship with EVs is a complicated one, CEO Elon Musk was a major backer of the former president’s campaign, and his various privately held enterprises - such as SpaceX - are expected to benefit under a Trump presidency. 

Given that, it’s quite likely that Tesla is catching an additional boost from its status as an “Elon proxy” trade today, though investors who want a more direct investment in SpaceX can also check out the Destiny Tech100 (DXYZ) fund - which is spiking 35% today, for most likely that very reason.