Tesla is struggling. One Wall Street analyst sees red-state EV buyers coming to the rescue.

Andrew Harnik/Getty Images; LIONEL BONAVENTURE/AFP via Getty Images; Chelsea Jia Feng/BI

• Tesla's stock sell-off in 2025 has been partly blamed on Elon Musk's divisive politics.
• But TD Cowen said Musk's nascent political career could help Tesla grow in new US markets.
• "Tesla could actually net meaningful sales gains over time," an analyst said.

As Tesla investors weather a barrage of bad headlines, Elon Musk's new political clout might actually prove to be an asset to the company...