Tesla shares surge 7% in rebound from recent selloff
Shares of Tesla TSLA.O jumping over 7% on Wed, up for a second straight day after a selloff that halved the electric car maker's share price in recent months in part over concerns about CEO Elon Musk's involvement in the Trump administration
U.S. President Donald Trump on Tues said he would label violence against Tesla dealerships domestic terrorism. That followed recent "Tesla Takedown" activist demonstrations against Musk's spear heading of Trump's Department of Government Efficiency, or DOGE, to slash government expenditure
Following Musk's support for far-right parties in Europe, Tesla's car sales in Europe tumbled 45% in January from a year earlier, while overall EV sales jumped over 37%
TSLA recently traded at 79x expected earnings, down from 151x in mid-December, per LSEG. While that earnings multiple is many times higher than other automakers, TSLA bulls point to Musk's promises to deliver self-driving taxis, humanoid robots and other future tech
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