Tesla stock rebounded Monday and in overnight trading to recover the sharp losses of last week, reportedly driven by retail investors—everday enthusiasts buying stocks for themselves—impressed by sales pitches from the commerce secretary and even the president himself. As the stock soars, though, international sales of the vehicles aren't so high-flying: deliveries are down 43% in Europe, according to figures there.
It should be concerning for Tesla as electric vehicle sales are up 31% during the period. Based on the main European auto markets already having reported vehicle registrations earlier this month, we already had a good idea of Tesla's performance in the market, but now the European Automobile Manufacturers Association (ACEA) has made it official.
Price to earnings ratio somewhere around 140? It's a meme stock: they're buying the dip!
Previously:
• Elon Musk to open Tesla-themed restaurant
• Best of the internet: 'To My Neighbor Whose Tesla Is Covered in Kraft Singles'
• Tesla recalling every Cybertruck in the U.S. — emblematic of what you get with Musk (video)
