What Happened? Shares of electric vehicle pioneer Tesla (NASDAQ:TSLA) fell 7.4% in the morning session after CEO Elon Musk announced over the weekend his intention to form a new political party, the "America Party.

Tesla (TSLA) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Shares of this electric car maker have returned -8.

Despite these issues, Tesla investors appear to be convinced that the company will experience a surge in sales trends at some point. This is evident by the wild premium the stock commands. Shares trade at a price-to-earnings ratio of 169 as of this writing. A valuation like this bakes in huge sales and earnings growth for years to come.