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.

Tesla's quarterly sales plunged 13% to the weakest in nearly three years, hurt by a backlash against CEO Elon Musk's politics, rising global competition and people waiting for a refresh to its highest-selling electric vehicle Model Y.