Tesla (NASDAQ: TSLA) became South Koreans' favorite foreign stock in 2022. Investors bought $2.74 billion worth of the manufacturer's shares, the largest purchase volume of the year.
Tesla was chosen by investors in South Korea this year as the most loved foreign stock. According to the Korea Securities Depository, headquartered in the port city of Busan, investors in the country bought Tesla shares worth a whopping $2.74 billion in 2022, according to The Korea Economic Daily. This makes the company the most preferred foreign stock for South Korean investors in terms of volume.
Korean investors possess an accumulated $6.81 billion worth of Tesla shares, accounting for 1.75% of the total shares of the company worldwide. Investors in South Korea started actively buying in October as Tesla shares began to fall. In the past three months alone, Koreans have purchased $1.1 billion worth of Tesla shares.
For now, Tesla's share price continues to decline, closing on Tuesday at $123.14 per share. While some investors remain nervous, others are taking the opportunity to stock up on the manufacturer’s shares.
© 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.