Tesla's shares on the Frankfurt stock exchange experienced a surge of over 14% at the start of trading on Wednesday. This increase in share value is believed to be driven by investor optimism surrounding the potential victory of Republican candidate Donald Trump in the US presidential race against Democratic Vice President Kamala Harris.

This market rally is part of a broader trend known as 'Trump trades,' where investors react to the political landscape. Elon Musk, the largest shareholder of Tesla, has been a vocal supporter of Trump throughout the electoral campaign, which may have further influenced investor sentiment.

Additionally, the shares of Coinbase Global also saw a 16% increase in Frankfurt, coinciding with a significant rise in bitcoin prices that have reached record highs above $75,000.