A few short months ago, I didn’t think I’d be writing a headline like this. But it’s been a terrible week for Tesla (NASDAQ:TSLA) stock, pummelled by falling European sales figures released on Tuesday.

Tesla soared as high as $488 in December on the back of CEO Elon Musk’s association with the then-President elect Donald Trump. Since then, it’s lost more than 40% as Musk’s personal popularity has waned. Tesla’s market capitalisation fell below $1trn for the first time since November.

Losing the EV edge

The pounding continued after Tesla reported a 45% January sales fall across European markets. That’s perhaps not as bad as it sounds though, with electric vehicle (EV)…