Why Tesla Stock Ended the Week on a High Note

Tesla (NASDAQ: TSLA) shares have been on a roll in recent weeks. The stock has soared by more than 60% in the last month and that surge continued Friday. Tesla shares were higher by 3.7% as of 1:45 p.m. ET. That brings year-to-date gains to about 42%.Much of the recent euphoria has been related to CEO Elon Musk and his relationship with President-elect Donald Trump. But the stock's momentum may have also gotten a boost after the latest European electric vehicle (EV) sales numbers were published yesterday.European EV sales were up by about 7% year over year in October, according to the European Automobile Manufacturers' Association. That bodes well for Tesla for several reasons. First, that rise in fully electric car registrations compares to flat results overall for all power sources including hybrids and fossil fuel vehicles. And the October rise in battery electric vehicle registrations compares to a drop of 2.6% in 2024 through September.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool