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Why Tesla Stock Jumped in December While EV Charging Stocks Tanked

Tesla (NASDAQ: TSLA) CEO Elon Musk bet on Donald Trump winning the November election, and investors jumped on the Tesla bandwagon after discovering he bet right. The election results helped drive Tesla shares sharply higher to end the year. ChargePoint Holdings (NYSE: CHPT) and EVgo (NASDAQ: EVGO) shares slid 12.3% and 37.8%, respectively.