Hedge funds that had short positions against Tesla between election day and Friday’s close took an on-paper hit of at least US$5.2 billion, according to Bloomberg calculations based on data compiled by S3 Partners LLC.

The Biden administration is playing it smart, laying the groundwork to protect clean energy programs from a potential rollback under Trump. By finalizing a wave of loans and grants for clean energy before year-end, they're effectively locking in incentives, making it far harder for a new administration to undo them come January.

Donald Trump’s election to a second term in the White House was a boon for Elon Musk personally. His companies stand to benefit, too, just not in the ways investors might expect. On the back of Tesla stock’s epic 29% gain,