Tesla Stock: Shares Hit 52-Week High Despite Market Headwinds

Tesla's stock reached a new 52-week high of $306.70 on Friday, closing at $306.25 with a 3.1% gain. This surge occurred despite a general decline in tech stocks, showcasing investor confidence in the electric vehicle maker. The company's recent quarterly results reported a 7.85% year-over-year revenue growth and earnings per share of $0.68. Analysts project earnings of $2.42 per share for the full year 2024, underscoring Tesla's positive trajectory.

Market Position Challenges in Germany

While Tesla's stock performance impresses, the company faces hurdles in the German electric vehicle market. As of October, BMW has overtaken Tesla in new electric vehicle registrations, with 33,167 units compared to Tesla's 31,461. Volkswagen leads the pack with 49,234 electric vehicles. Tesla's year-over-year decline of 23,300 units in Germany contrasts sharply with BMW's increase of 6,600 vehicles, suggesting potential market share pressures in this key European market.