Tesla stock rebounded over 20 percent in the past five trading days, and, coincidentally, the boost came just after Tim Walz said he gets a boost from watching the automaker’s shares fall.

Although Walz’s pushback against Tesla stock mostly comes from his evident distaste for CEO Elon Musk, who has joined President Donald Trump’s team as the head of the Department of Government Efficiency (DOGE), it seems he might not have realized the EV maker’s shares make up a portion of his state’s pension fund.

This was something Shark Tank’s Kevin O’Leary mentioned last week after Walz’s comments. However, now that Tesla shares are rising once again, Walz is backtracking by saying that his comment from last week was his attempt at humor.

Walz said:

“I have to be careful about being a smartass. I was making a joke. These people have no sense of humor.”

NEW: Tim Walz says he was totally joking when he celebrated Tesla stock going down, says Elon Musk makes him unhealthy.

The comment came after Walz apparently didn’t realize his own pension plan owns Tesla stock.

“I have to be careful about being a smartass. I was making a… pic.twitter.com/w1QHAYyvco

— Collin Rugg (@CollinRugg) March 23, 2025

Tesla shares have rebounded nicely since a substantial drop so far this year.

Although the stock is still down about 28 percent this year, things are looking better for the company as it now shifts its focus to the release of several affordable models, the ramp of the new Model Y “Juniper,” the release of the Cybercab and Robotaxi platform in Texas and California, and other potential catalysts like the Optimus robot.

Tesla aiming to produce first “legion” of Optimus robots this 2025

Last week’s All-Hands meeting from Tesla was publicly broadcast on X and seemed to be the response many investors were hoping for as questions started to seep in regarding Musk’s commitment to the company.

While his attention seems to be on solving government spending and eliminating corruption, it is evident Musk is still paying attention to what is going on at Tesla.

Shares are up over 10 percent at 1:05 p.m. on the East Coast, trading at around $274.

Tesla has staged a comeback in Norway’s electric vehicle market with the launch of the new Model Y. With deliveries starting domestically, the new all-electric crossover has reclaimed its spot as Norway’s most registered car this month and year-to-date.

Tesla’s results in Norway this month could be seen in Elbilstatistikk, which closely tracks EV registrations in the country.

New Model Y Boost Tesla in Norway

Data from Elbilstatistikk revealed that Tesla Norway has seen over 1,000 Model Y registrations this March so far, more than twice the tally of its closest rival, the Volkswagen ID. Buzz, which has over 400 registrations. The new Model Y’s comeback also resulted in the all-electric crossover being the county’s top electric vehicle year-to-date, with 2,032 registrations so far.

The new Model Y’s dominant performance in Norway hints at the vehicle’s strong appeal to consumers, especially considering the controversial nature of the company’s CEO, Elon Musk, today. Sentiments against Musk have been notable as of late, resulting in some Tesla owners feeling the brunt of vandalism and abuse incidents in the United States, Canada, and some areas of Europe.

High Hopes for New Model Y

The Model Y comprises a huge portion of Tesla’s global sales. During Tesla’s Q1 2025 All-Hands meeting, Elon Musk highlighted that the Model Y is the company’s most successful vehicle so far. Such comments are accurate considering that the Model Y classic became the world’s best-selling vehicle by volume in both 2023 and 2024. As per Musk during the recent All-Hands meeting, the revamped Model Y should be able to achieve such heights this year as well.

“Model Y became the best-selling vehicle in the world. You know FYI, we do make the best. It’s like, how are we doing in our popularity? Well, we actually literally make the best-selling car on Earth, of any kind. That’s two years in a row. And it’s going to be the best-selling car on Earth again this year,” Musk stated.

Tesla China’s vehicle sales saw a strong recovery once the new Model Y started customer deliveries. This could be seen in China’s rankings for premium battery electric SUVs priced from RMB 200,000 to RMB 300,000 during the week of March 10-16, 2025.

As per the week’s rankings, the new Model Y’s sales are so far ahead, it would need a telescope to see its closest competitor.

Tesla China’s February Results

A look at the mainstream news cycle would show that Tesla China saw a notable drop in February. During the month, Tesla sold 30,688 vehicles wholesale, a 51.47% decline from January’s 63,238 and a 49.16% slide from the 60,365 that were sold wholesale in February 2024. 

It should be noted that the new Model Y only started local deliveries in the final days of February. This meant that for the majority of the month, Tesla China was mostly clearing out its inventory of Model Y classic units. This essentially resulted in Tesla China’s strongest seller being throttled for most of February. This will likely not be the case this March.

New Model Y’s March Comeback

With the new Model Y now being delivered to domestic customers, Tesla China’s new vehicle registrations have seen a notable rise. During the week of March 10-16, 2025, Tesla China saw 15,300 new vehicle registrations, the highest for the quarter. These figures were bolstered by the new Model Y, whose local sales reached 9,451 units during the week. 

With 9,451 units sold during the week ending March 16, the new Model Y became China’s best-selling premium electric SUV priced from RMB 200,000 to RMB 300,000. This is a notable accomplishment for the new Model Y, especially since its closest competitor, the Zeekr 7X, was able to sell just 1,390 units during the same week. That’s just about 14% of the new Model Y’s sales.

Tesla China’s Potential Q1 Results

Considering that Tesla China did not start local deliveries of the new Model Y until late February, it would not be surprising if the electric vehicle maker’s first quarter delivery numbers show a year-over-year decline. A clearer view of the new Model Y’s overall effect on Tesla China’s local sales would likely become more evident in the coming quarters.