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Institution: Waning Enthusiasm for Tesla Stocks as Interest in Cryptocurrency Rises, South Korean Investors Selling
Summary: According to Jinshi News, as enthusiasm for electric car manufacturer Tesla wanes and interest in cryptocurrency rises, South Korean retail investors are losing confidence in Tesla's stock, with selling pressure increasing last month. According to institutional calculations of deposit data, South Korean individual investors sold a net $657 million worth of Tesla stock in August, ...
According to Jinshi News, as enthusiasm for electric car manufacturer Tesla wanes and interest in cryptocurrency rises, South Korean retail investors are losing confidence in Tesla's stock, with selling pressure increasing last month. According to institutional calculations of deposit data, South Korean individual investors sold a net $657 million worth of Tesla stock in August, the largest outflow since at least early 2023. Investors are turning to more volatile investments, such as Bitmine Immersion Technologies Inc., seen as representing Ethereum, which attracted a net inflow of $253 million. This indicates that the enthusiasm of Tesla's most loyal global retail investors is waning. Their buying frenzy had once boosted Tesla's stock price. South Korean traders who have long been attracted to well-known American tech companies like Tesla are now redirecting their funds elsewhere.
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Link: Institution: Waning Enthusiasm for Tesla Stocks as Interest in Cryptocurrency Rises, South Korean Investors Selling [Copy]
