George Soros took advantage of Tesla's share price decline and significantly increased his stake. The disclosure shows that the investor seized the opportunity and tripled his stake in Tesla.
Tesla shares are registering a significant decline in value, although their price has begun a slow recovery. While inexperienced and insecure investors continue to worry, selling their shares, experienced investors with big names are taking advantage of the situation. According to the disclosure, legendary investor George Soros purchased shares of the company, tripling his stake.
Soros Fund Management Llc has filed a 13F-HR form disclosing ownership of 89,647 shares of Tesla with total holdings valued at $23,779,000 as of September 30, 2022. The fund had filed a previous 13F-HR on August 12, 2022, disclosing 29,883 shares of Tesla at a value of $20,124,000. This represents a change in shares of 199.99 percent and a change in value of 18.16 percent during the quarter.
The increase in Tesla's stake shows Soros' growing confidence that the company is on track to achieve its goals, despite market fluctuations. The manufacturer is moving along the planned path, its production capacity continues to increase, and according to analysts' forecasts, the company can deliver about 450,000 vehicles in Q4, which will bring the number of deliveries in 2022 to about 2 million.
© 2022, Eva Fox | Tesmanian. All rights reserved.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.