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Why is TSLQ Up Today After Tesla Troubles

The AXS TSLA Bear Daily ETF (TSLQ) surged 7.21% to close at $28.24 on February 5th, as Tesla's stock faced significant pressure following a series of unfavorable developments. Tesla's shares dropped 2.61% to $381.99 by late morning trading, driven by a 60% plunge in sales in Germany, where the company's political controversies have sparked backlash. CEO Elon Musk's vocal support for Germany's far-right Alternative for Germany party has been met with criticism, contributing to a negative perception of Tesla in one of its key markets. Additionally, Tesla's Q4 2024 earnings report revealed a miss on both earnings per share and revenue, further dampening investor sentiment. The company's first annual delivery decline and concerns over aggressive price cuts affecting profitability have compounded the bearish outlook. Broader industry challenges, including increased competition and market volatility, have also weighed on Tesla's prospects.