As it stands, Musk and Tesla are contending with recalls, protests, a 13% drop in sales and looming tariffs — so why is its stock rallying?

Tesla Inc.’s vehicle sales fell 13% last quarter to an almost three-year low, as the carmaker made over its most important model and dealt with international backlash against Elon Musk.The company said Wednesday that it delivered 336,

Mr. Musk’s involvement in right-wing politics contributed to a 13% drop in deliveries in the first quarter, including steep declines in E.V.-friendly places like Norway.