What happened Shares of Tesla (NASDAQ: TSLA) jumped on Tuesday, rising as much as 6.4%. As of 10:45 a.m. EST, the stock was up about 5%. The stock's gain is likely fueled primarily by optimism in the overall market on Tuesday. In addition, the stock may be rising on the possibility of a Democrat winning the U.S. presidential election. Model S. Image source: Tesla. So what Capturing bullishness in the overall market, the S&P 500 is up about 2% as of this writing. Many growth stocks like Tesla are up even more. It's not surprising, therefore, to see Tesla stock up sharply. Some of the accumulation of Tesla stock today may reflect the possibility of Joe Biden winning the election. Democrats typically implement more favorable renewable energy policies. As a maker of electric cars, solar panels, and energy storage products, Tesla could benefit from invigorated government support for these new technologies. Now what Investors should remain focused on Tesla's underlying business and the company's long-term potential. While whoever wins the election may have an impact on Tesla, the company's long-term fate will likely be determined primarily by the quality of its products and its execution on growth opportunities. 10 stocks we like better than TeslaWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Tesla wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Daniel Sparks has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has a disclosure policy.Source