EV News Hubb
Advertisement Banner
  • Home
  • Electric Vehicle Market
  • Electric Car
  • Electric Bikes
  • Contact us
No Result
View All Result
  • Home
  • Electric Vehicle Market
  • Electric Car
  • Electric Bikes
  • Contact us
No Result
View All Result
EV News Hubb
No Result
View All Result
Home Electric Vehicle Market

Tesla gets support from S.Korean retail investors amid downward slide

admin by admin
December 28, 2022
in Electric Vehicle Market


Advertisement Banner

Retail investors in South Korea have bought $2.8 billion worth of Tesla (NASDAQ:TSLA) stock despite its downward slide these last few months. 

According to the Korea Securities Depository, day traders bought $160 million worth of Tesla shares up through December 27, 2022. South Korean retail investors continue to buy TSLA stocks amid its downward slide.

As of this writing, Tesla’s stock price stands at $109.10 per share, down 11.41%. The company’s market cap took a hit, now standing at $344.51 billion. Tesla stock is down 69% in 2022 and has dropped 73% compared to its record high in November 2021.

Bloomberg notes that despite its downward slide, Tesla remains a popular overseas stock among South Korean retail investors. In August 2022, Teslarati reported that Tesla fans in S. Korea amassed $15 billion worth of TSLA stock, amounting to 1.6% of the company. 

Like most TSLA bulls, South Korean retail investors are taking advantage of the current Tesla share price and buying at the dip. Tesla remains a popular brand in Asia, and Elon Musk is still a popular figure in the region. 

Tesla is strengthening its presence in Asia. Recently, the office of President Yoon Suk-Yeol shared that Elon Musk considered building a factory in South Korea. President Yoon later stated that he would be open to offering Tesla tailored incentives if it builds a gigafactory in the country. 

Telsa is expected to announce the location of its new gigafactory before the year ends. The company was rumored to announce it last week, but Tesla kept mum about a new gigafactory. Mexico, Indonesia, and Canada are the other countries vying to be the location of Tesla’s new gigafactory. 

Disclaimer: I am long TSLA.

Do you know anything about Tesla’s next gigafactory location? Contact me at maria@teslarati.com or via Twitter @Writer_01001101.

Tesla stock gets support from S. Korean retail investors amid downward slide











Source link

Previous Post

Cathie Wood Purchases More Tesla Stock

Next Post

Green Car Reports Best Car To Buy: Past winners

Next Post

Green Car Reports Best Car To Buy: Past winners

Austria's Pierer Mobility To Bring GASGAS E-Bikes To U.S. Market

Advertisement Banner

Recommended Post

Rad Power Bikes RadCity 5 Plus Review, 2023

by admin
January 30, 2023
0

Charged EVs | DLR Institute leads project to research calcium-sulfur battery technology

by admin
January 30, 2023
0

Arrival names new CEO but halves staff in fight for Van production

by admin
January 30, 2023
0

Next-Gen Audi A8 EV’s Design “Very Close” To Grandsphere Concept

by admin
January 30, 2023
0

Mustang Mach-E prices, Audi electric off-roader, Tesla’s California lead: Today’s Car News

by admin
January 30, 2023
0

American EV owners save more money in winter than any other country

by admin
January 30, 2023
0

Tesla Stock vs. Amazon Stock In 2023

by admin
January 30, 2023
0

E-bike News: VanMoof bailout, Subsidies for E-bikes are More Effective than ZEVs

by admin
January 29, 2023
0

© 2022 EV News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Electric Vehicle Market
  • Electric Car
  • Electric Bikes
  • Contact us

Newsletter Sign Up

  • Home
  • Electric Vehicle Market
  • Electric Car
  • Electric Bikes
  • Contact us

© 2022 EV News Hubb All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In