The T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) surged 10.41% to close at $2.54 on February 3, as Tesla shares fell 4.50% to $386.40 amid new tariff announcements and declining vehicle registrations in Europe. President Trump's imposition of 10% tariffs on goods from China, Canada, and Mexico has put pressure on Tesla, despite its relatively insulated supply chain. The company's stock was further impacted by a significant drop in vehicle registrations in key European markets, with France seeing a 63% decline in January y/y. Additionally, Tesla's recent price cuts for its Model 3 and Cybertruck models in the U.S. have raised concerns about demand.