Tesla stock rallies despite European sales slump
Tesla TSLA.O stock up 6% despite data showing sales in key European markets fell in March, marking lowest first-qtr sales in France and Sweden since 2021
Sales drop attributed to competition from Chinese EV makers and backlash against CEO Elon Musk's political views, which has lead to vandalism of TSLA cars and dealerships
TSLA on Wed expected to report first-qtr delivery figures, offering broader insight into how Musk's involvement in the Trump administration and his support for far-right parties in Europe have affected TSLA's brand
TSLA stock has sunk about 32% YTD, compared to a 10% fall in Nasdaq .IXIC
Stock recently traded at 91 times expected earnings, vs avg forward PE of 90 over past five years, per LSEG data
TSLA stock about 44% below its 52-week intraday high of $488.54 reached on Dec. 18, 2024
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