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Tesla’s Stock Slide Has Korean Day Traders Boosting Purchases
- Net buying of $1.04 billion in May was near monthly record
- Koreans buying despite 27% plunge in Tesla shares this year
A Tesla Inc. showroom.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
A 13% tumble in Tesla Inc. shares last month wasn’t enough to stop Korean day traders from piling into the stock, with purchases reaching one of the highest levels on record as investors sought bargains.
Retail investors in South Korea added a net $1.04 billion worth of Tesla shares in May, according to Korea Securities Depository data. That was their biggest monthly buying since December last year, when net purchases totaled $1.06 billion.