The sharp slump in Tesla’s share price this week saw UK private investors ramp up equity purchases on Thursday.
Shares in the electric cars maker have plunged 13% after hitting a record $1,221.79 on Friday, 5 November following Elon Musk’s controversial Twitter poll last weekend that sparked a promise by the Tesla founder to sell 10% of his 170.5 million share stake.
READ: Elon Musk’s stock sale could force tracker funds to buy more Tesla shares
Musk sold about $5 billion wort of shares this week, according to regulatory filings published overnight. He’d have to sell more than twice than again to meet his 10% target promised to his 63 million-odd Twitter followers.
BUYING THE RALLY
Tesla shares jumped more than 4% overnight and are set to rally again when Wall Street opens for business this afternoon, according to pre-market data.
The shares’ recovery rally seems to be luring UK retail investors back in, with Tesla buyers outnumbering sellers by around 10%, according to users of the AJ Bell YouInvest platform.
Tesla has been the most traded stock on AJ Bell YouInvest, according to the investment platform’s share dealing data. But sellers have been outnumbering buyers over the past week and month.
Top five buys and sells past week, AJ Bell YouInvest
