KazPost

Kazakhstan News
Friday, Jan 27, 2023

Tesla has surpassed Apple as retail investors' favorite stock in 2022, research firm says

Tesla has surpassed Apple as retail investors' favorite stock in 2022, research firm says

Cumulative net retail purchases in Tesla stock shot up more than 400% this year to leap over $15 billion.

Tesla has dethroned Apple as the most popular stock among retail investors in 2022, research firm Vanda said Wednesday, with the EV maker's historic sell-off driving a recent surge in buying. 

Cumulative net retail purchases in Tesla stock exploded by 424% to $15.41 billion this year from $2.94 billion in 2021, Vanda said in a weekly note. 

That overtook $15.21 billion in cumulative net purchases of Apple this year, with a relatively more modest growth rate of 18% from $12.85 billion in 2021. 

Flows into Tesla dropped when the company enacted its 3-for-1 stock split in August but later began surpassing those of the iPhone maker. 

"[Retail] investors' contrarian bias shifted into a higher gear as TSLA shares fell following Musk's recent antics as Twitter's CEO and against Apple earlier in the month," Marco Iachini, senior vice president of research at Vanda, wrote in the research firm's last note of 2022. 

Tesla shares are headed for a 60% decline for 2022 amid the worst sell-off since their 2010 public debut. Tesla's year-to-date loss outpaces the S&P 500's decline of 18% and the Nasdaq 100's dive of 31%. For its part, Apple stock has lost 23% during the year. 

Tesla has been sinking quickly in recent weeks as investors and analysts voiced concerns that Musk is overly focused on Twitter, which he acquired for $44 billion in October. 

Meanwhile, Musk last month claimed Apple was threatening to remove Twitter from its App Store. He later said there was a "misunderstanding" about the situation, saying Apple's CEO Tim Cook had never considered doing so. 

On a wider scale, Tesla, Apple and other large-cap tech companies have been slammed down this year with borrowing costs soaring as the Federal Reserve hiked up interest rates and investors worry about an oncoming recession.

But in singling out Tesla, Vanda pointed to its reach, saying the stock makes up about 11% of the average retail portfolio. 

"Given its growing importance, we view retail activity around it as a crucial signpost for what may be an eventual full-fledged capitulation in 2023," said Iachini.

Net retail purchases of Tesla and Apple stock in 2020 through 2022.

Newsletter

Related Articles

KazPost
Close
0:00
0:00
Tesla reported record profits and record revenues for 2022
Germany confirms it will provide Ukraine with Leopard 2 tanks
Prince Andrew and Virginia Giuffre Photo Is Fake: Ghislaine Maxwell
Moonwalker Buzz Aldrin Gets Married On His 93rd Birthday
Federal Reserve Probes Goldman’s Consumer Business
China's first population drop in six decades
Microsoft is finalising plans to become the latest technology giant to reduce its workforce during a global economic slowdown
Tesla slashes prices globally by as much as 20 percent
1.4 Million Copies Of Prince Harry's Memoir 'Spare' Sold On 1st Day In UK
After Failing To Pay Office Rent, Twitter May Sell User Names
Lisa Marie Presley, singer and daughter of Elvis, dies aged 54
FIFA president questioned by prosecutors
Britain's Sunak breaks silence and admits using private healthcare
Dirty bomb fears as URANIUM is found in cargo at Heathrow
Hype and backlash as Harry's memoir goes on sale. Unnamed royal source says prince 'kidnapped by cult of psychotherapy and Meghan'
Saudi Arabia set to overtake India as fastest-growing major economy this year 
Google and Facebook’s dominance in digital ads challenged by rapid ascent of Amazon and TikTok
FTX fraud investigators are digging deeper into Sam Bankman-Fried's inner circle – and reportedly have ex-engineer Nishad Singh in their sights
TikTok CEO Plans to Meet European Union Regulators
France has banned the online sale of paracetamol until February, citing ongoing supply issues
Japan reportedly to give families 1 million yen per child to move out of Tokyo
Hong Kong property brokerages slash payrolls in choppy market
U.S. Moves to Seize Robinhood Shares, Silvergate Accounts Tied to FTX
Effect of EU sanctions on Moscow is ‘less than zero’ – Belgian MEP
Dubai announces $8.7 trillion economic plan to boost trade, investment and global hub status
Coinbase to Pay $100 Million in Settlement With New York Regulator
FTX assets worth $3.5bn held by Bahamas securities regulator
A Republican congressman-elect is under investigation in New York after he admitted he lied about his education and work experience.
Brazilian football legend Pele, arguably the greatest player ever, has died at the age of 82.
Hong Kong to scrap almost all its Covid rules
EU calls screening of travellers from China unjustified
US imposes Covid testing for visitors from China
Ukraine President Volodymyr Zelenskyy Addresses Joint Session of Congress - FULL SPEECH
Where is Rishi? Chancellor Jeremy Hunt's excuses about the UK's economic challenges just don't make sense
Former FTX CEO Bankman-Fried finally arrested in Bahamas after U.S. files charges
Corruption works: House Financial Services Chair Waters doesn't plan to subpoena her donor, Sam Bankman-Fried, to testify at hearing on FTX collapse
Ronaldo's new contract...
Tax fraud verdict again exposes illusion of Trump the master businessman
Tax fraud verdict again exposes illusion of Trump the master businessman.
Double standards: UK lawmakers attack EU chief over Ireland claims
Yellen hints at ‘national security’ probe into Twitter purchase
Elon Musk reinstates Donald Trump's Twitter account.
George W. Bush and Barack Obama will hold back-to-back disinformation conferences
Miss Argentina and Miss Puerto Rico are not single anymore
Boris Johnson is about to sign a contract with an American company to get millions for giving speeches. Something he did until very recently for free.
Solar + Powerwall ensures you never lose power, even if the grid goes down
Bavarian Prime Minister Söder: "There is no reason for mask obligations, no lockdowns anymore”
MSNBC tries to discuss the January 6th events with a focus group
Europeans don't want to starve and freeze for Zelensky and Ursula von der Leyen.
This man paid for strangers' grocery and it moved them to tears
×