MILAN (Reuters) – Tesla (NASDAQ:TSLA)’s Frankfurt-listed shares rallied over 14% at the open on Wednesday, as investors were increasingly pricing in a win for Republican Donald Trump in the U.S. presidential race against Democratic Vice President Kamala Harris.

Elon Musk, Tesla’s top shareholder, has supported Trump throughout his electoral campaign.

Crypto exchange Coinbase Global (NASDAQ:COIN) shares opened up 16% in Frankfurt, reflecting a surge overnight in bitcoin to record highs above $75,000.