Why Tesla Stock Ended the Week on a High Note
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Tesla's stock has surged over 60% in the past month, closing the week up 3.7%, with year-to-date gains of about 42%. This momentum is attributed to CEO Elon Musk's relationship with President-elect Donald Trump and positive European EV sales, which rose 7% year-over-year in October. Tesla sold over 58,000 EVs in Europe in September and October, marking an 11.6% increase compared to 2023. Despite a nearly 12% decline in overall sales for 2024, the recent demand surge is promising for Tesla's future sales performance globally.
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