Tesla Economics X Compilation
On the 9th, Tesla Economics, a platform that shares news about Tesla, posted a message on X (formerly Twitter) stating, “$TSLA is the #1 stock held by Koreans today.” The post included a visual combining the South Korean flag, with the yin-yang symbol in the center replaced by Tesla’s logo. Musk commented on this post, calling Koreans “smart people.”
Tesla Economics often creates visuals using flags of different countries. For the American flag, it replaced all 50 stars with Tesla’s logo.
While most users online criticized the image as a “disrespect to the South Korean national flag,” Tesla fans unanimously defended it as an appropriate analogy.
The reason Tesla Economics created a visual combining the South Korean flag and Tesla’s logo appears to be an ode to South Korean retail investors as they heavily invested in Tesla.
According to the Korea Securities Depository, as of the 4th, the amount of Tesla stock held by domestic investors was approximately $14.67 billion, which is more than the $13.42 billion held in Nvidia.
It reclaimed the top spot for the amount of foreign stock held, which was previously held by Nvidia, after about 40 days.
Before Nvidia’s rise, Tesla dominated the market. So much so that the term Tesla fanatics was coined. Whether the investment of Korean Tesla fanatics contributed to Tesla’s return to the top spot or not, Tesla’s stock price has been continuously rallying recently.
On this day, Tesla recorded $262.33, a 3.71% surge from the previous trading day on the New York Stock Exchange.
Tesla continued its rally for 10 consecutive days. Tesla’s stock has surged over 75% from its low point, and its year-to-date return has reversed to a 5% increase.