A strong rise in Tesla's stock at closing after a court ruling for Elon Musk!

Tesla's American stock recorded a strong increase of over 3% at the close of trading on Tuesday, following a court ruling in favor of CEO Elon Musk, which allows his political action committee to distribute a cash prize of $1 million daily to voters in swing states.

A judge in Pennsylvania issued a ruling late Monday evening, allowing the prize offered by Musk's billionaire political action committee to continue being distributed until the next presidential election.

In trading activity, Tesla's stock (NASDAQ: TSLA) rose by 3.54%, equivalent to $8.60 per share, reaching a level of $251.44 per share at the close of U.S. trading.

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