(Bloomberg) – Tesla Inc. stock is in a free fall. Its sales are falling sharply all over the world. Even the most enthusiastic Wall Street Bulls are becoming cautious. However, one group is buying stocks in electric vehicle manufacturers like never before: a fan of CEO Elon Musk.
Most of them read from Bloomberg
The company has long had an avid fan base of individual investors hanging from every word on X, the social media platform he owns. They analyze Tesla in great detail on online forums and act primarily as a stock hype crew.
But their current level of enthusiasm is surprisingly high, even by recent historical standards. Individual investors are net buyers of Tesla stocks in 13 straight sessions through Thursday, with retail trading data, $8 billion in stock, showing by JPMorgan Chase’s Global Equity Derivatives Strategist Strategist Emma Wu. This is the biggest influx of winning streaks since 2015, and only does the data go on.
What’s noteworthy about retail purchases is that Tesla’s stock price sunk 17% during this period, sweeping over $155 billion from its market value.
“I’ve missed a few opportunities with TSLA in the past. Is this a good time to invest as stocks have dropped significantly?” Another said it was “very happy” to buy stocks in the $225-$230 range. Shares rose 5.3% on Friday to $248.66.
“Tesla has made some rookies very wealthy for mid-stage public market investors because of this stock. “People don’t forget that. And if they feel it’s beat, they’ll come back to the stock again and again.”
Tesla stocks have fallen into a steep slide since mid-December, touching on the highest ever-highest optimistically fueled since Donald Trump’s election victory. But that happiness vanished, with inventory retreating more than 50% from its December 17th record, becoming the second largest repeat of this year’s S&P 500 index. The defeat is so cruel that Musk on Thursday tried to reassure Tesla employees during all hand meetings, potentially causing a rebound in stock on Friday.
The enthusiasm was evident on the previous Twitter and the stock was heavily mentioned, but Tesla won the website’s list of most active securities on Friday.
