This article first appeared on GuruFocus.
Tesla (NASDAQ:TSLA), the electric-vehicle, energy-storage and artificial-intelligence powerhouse, surged approximately 2.7% to $358.385 before Tuesday's opening bell. The spark was impossible to miss: August registrations exploded 279% in France from a year earlier, giving investors fresh hope that demand is finally waking up in parts of Europe.
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But this was no clean European comeback. Denmark registrations soared 104%, while Norway and Spain crashed 79% and Sweden dropped 41%. Lower prices, rising electric-vehicle adoption and easier comparisons fueled the strongest results, while Norway ran into a brutal comparison after tax-driven purchases boosted last year's numbers.
Tesla delivered more than 480,000 vehicles worldwide during the second quarter, but France and Denmark cannot carry the entire European story. Investors still need August results from Britain and Germany, the region's two largest automobile markets. At $358.385, the stock stands 7.4% above its $333.70 GF Value, signaling that the market is already betting on a broader recovery.
