• 96
  • 17
  • Favorite

Tesla Lures $2.8 Billion From Korean Day Traders Amid Stock Drop

Bloomberg2022-12-28

  • Korea day traders net buyers of Tesla for third-straight month
  • Tesla is still most popular foreign stock among Korean traders

South Korean retail investors have bought a net $2.8 billion worth of Tesla Inc. stock this year amid the electric-vehicle maker’s worst slump on record.

Day traders have added $160 million in Tesla shares this month through Dec. 27, on track for a third month of net purchases, according to data from Korea Securities Depository. They continued to buy even as the stock has tumbled 44% in December, headed for its worst-ever month.

Tesla remains the most popular overseas stock among Korean retail traders, who sharply increased investment during the pandemic. Elon Musk has built a devoted fan base in the Asian nation, luring dip-buyers in its 2022 collapse on top of those who piled in as it soared over the previous two years.

Tesa supplier LG Energy Solution Ltd. has been a beneficiary as well, with Korean mom-and-pop investors pouring a record amount of funds into the battery maker’s initial public offering in January. LG Energy’s shares are up 46% since its debut.

South Korea’s retail investors has also remained loyal to their favorite domestic stock, Samsung Electronics Co., buying a net $12.3 billion so far in 2022. Shares of the world’s largest memory maker are down 28% this year amid the global tech selloff.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment17

  • LouisKangean
    ·2022-12-28
    Ehmmm
    Reply
    Report
  • Agxm
    ·2022-12-28
    Gg.
    Reply
    Report
  • Tonyaaa
    ·2022-12-28
    [Miser] 
    Reply
    Report
  • Residue
    ·2022-12-28
    👍🏻
    Reply
    Report
    Fold Replies
  • runningjames
    ·2022-12-28
    If don't have one or two big buyers, how can most investors short sell in the market. Hence, not worries, just continue short sell till below 100 levels. Coming Q1 financial report will be disappointed too :)
    Reply
    Report
  • WJ77
    ·2022-12-28
    Ok
    Reply
    Report
  • Slee49
    ·2022-12-28
    Noted
    Reply
    Report
  • Vincent1968
    ·2022-12-28
    Nice
    Reply
    Report
  • naan
    ·2022-12-28
    its insane. elon is a duper himself, selling millions of tesla shares. addressing margin calls.. even in this crash time.... and instead his focus is on twitter now, which he is unable to handle with his enginerring/production mind/brain of work.... twitter as a social media requires pscylogical framework/mind set up.. atleast till now he has been a failure... which he has just focused on controls...  wish he can tweet something favourable about tesla to get the share atleast to get this to USD 200 (from USd 107 CMP)
    Reply
    Report
    Fold Replies
    • LouisKangean
      👍
      2022-12-28
      Reply
      Report
    • IcaKong
      👌 👌 👌 👌 👌
      2022-12-28
      Reply
      Report
    • KFChen
      Ok
      2022-12-28
      Reply
      Report
    View more 2 comments
  • Moneyong
    ·2022-12-28
    Like 
    Reply
    Report
    Fold Replies
    • Moneyong
      Ok
      2022-12-28
      Reply
      Report
  • Louis K Jia Heng
    ·2022-12-28
    How Tesla lures ? Day trade also drop alots yesterday . 
    Reply
    Report
  • Borsd
    ·2022-12-28
    Understandable. Retail investors but often stock that goes down, while institutions buy stock that hoes up. Better look fir 2023 to theChinese market.
    Reply
    Report
  • 苗派
    ·2022-12-28
    Okay 
    Reply
    Report
  • Nebhol
    ·2022-12-28
    Yea
    Reply
    Report
  • Cynderella
    ·2022-12-28
    L
    Reply
    Report
  • moe_lester
    ·2022-12-28
    cool
    Reply
    Report
  • Singman
    ·2022-12-28
    Like
    Reply
    Report
errorbox banner

抱歉,当前请求异常(-1)

7x24

  • 11:05

    Warba Bank- Gets Cma Approval to Issue Perpetual Tier 1 Capital Sukuk Not Exceeding $250 Mln

  • 11:05

    Qatar Sets May Marine Crude Osp at Oman/Dubai $0.60/Bbl; Land Crude Osp at Oman/Dubai $0.50/Bbl - Pricing Document

  • 10:53

    Taiwan President: in Addition to TSMC, Other Industries, Such as Electronics, Petrochemicals and Natural Gas Will Be Able to Increase Investment in the US

  • 10:50

    Saudi Arabia Sets May Arab Light Crude Oil Official Selling Price to Asia at Plus $1.20 Versus Oman/Dubai Average - Sources to Reuters

  • 09:38

    Beyout Investment Group Holding - Unit Signs Contract to Sell a Land for 3.3 Mln Dinars

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email:uservice@ttm.financial