Tesla (TSLA) investors are buying at record pace, here’s why
Tesla (TSLA) investors have been buying the automaker’s stock at a record pace over the last few weeks. Here’s why we think they are doubling down.
Despite a less-than-stellar performance on the stock market over the last year, individual Tesla investors appear undeterred.
A new report from Vanda Research (via WSJ) shows that individual investors are buying Tesla stocks at a record pace.
We mean individual investors with broker accounts, not hedge funds and other institutions. Those investors bought just short of $17 billion worth of Tesla stock in 2022, which was a record.
Now just over two months into 2023, Vanda Research reports that individual investors have already bought over $13 billion worth of Tesla stock this year.
They are showing a lot of confidence in Tesla’s stock, which has been up so far this year, but that was after taking a brutal beating last year.
Now trading at $189 a share, it is still way down from its 52-week high of $384 a share.
Why are Tesla investors buying now?
That’s a tricky question to answer. Historically, Tesla has been a “story stock,” meaning that people were mainly buying into the story of Tesla rather than solid financials behind the company; this has changed over the last few years as Tesla began to consistently deliver strong financial performance and growth.
With Gigafactory Berlin and Texas now ramping to volume production, investors are expecting Tesla to deliver a record number of vehicles in Q1. And while margins are going to be negatively affected by recent price cuts, the automaker should remain profitable.
Tesla is also adding the Cybertruck to its lineup this year, but it is not expected to contribute meaningfully to deliveries or financials this year.
Another explanation for why individual investors were buying Tesla at a record pace this year could be in anticipation of the Investor Day that happened last week.
The Investor Day presentation received mixed reviews. Many were disappointed by the lack of significant news or announcement, but others were impressed by Tesla bringing a significant step change to vehicle manufacturing with its next-generation vehicle platform.
A “buy the rumor, sell the news” situation could have contributed to this surge in Tesla investors buying the stock.
Tesla investors are also known to be quite loyal and many of them rushed to buy last year’s dip. It will be interesting to see if the buying continues into the rest of the year.
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Tesla’s retro-futuristic diner with Superchargers and giant movie screens is ready to open, and I have to admit, it looks pretty sick.
This project has been in the works for a long time.
In 2018, Elon Musk said that Tesla planned to open an “old school drive-in, roller skates & rock restaurant at one of the new Tesla Supercharger locations in Los Angeles.” It was yet another “Is he joking?” kind of Elon Musk idea, but he wasn’t kidding.
A few months later, Tesla applied for building permits for “a restaurant and Supercharger station” at a location in Santa Monica. However, the project stalled for a long time, apparently due to local regulations.
Nevertheless, Tesla still moved forward with a Supercharger at the location, but it had to move the diner project to Hollywood. In 2022, Tesla filed the construction plans with the city, giving us the first look at what the automaker intends to build.
In 2023, the automaker broke ground on the site of the diner.
7 years after being originally announced, the project appears now ready to open:
Musk said that he ate at the diner last night and claimed that it is “one of the coolest spots in LA.” He didn’t say when it will open, but Tesla vehicles have been spotted at Supercharger and people appear to be testing the dinning experience inside.
A Tesla Optimus Robot can be seen inside the diner on a test rack. It looks like Tesla might use one for some tasks inside the diner.
Earlier this year, Tesla integrated the diner into its mobile app – hinting at some interaction through the app – possibly ordering from it.
Electrek’s Take
I think it looks pretty cool. I am a fan of the design and concept.
However, considering the state of the Tesla community, I don’t think I’d like the vibes. That said, it looks like Tesla isn’t prominently pushing its branding on the diner.
You can come and charge there, but it looks like Tesla is also aiming to get a wider clientele just for dining.
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Hyundai’s electric minivan is finally out in the open. The Staria EV was caught without camo near Hyundai’s R&D center in Korea, giving us a closer look at the electric minivan undisguised.
Hyundai’s electric minivan drops camo ahead of debut
The Staria arrived in 2021 as the successor to the Starex, Hyundai’s multi-purpose vehicle (MPV). Although the Staria has received several updates throughout the years, 2026 will be its biggest by far.
Hyundai will launch the Staria EV, its first electric minivan. Like the current model, the 2026 Staria will be available in several different configurations, including cargo, passenger, and even a camper version.
We’ve seen the Staria EV out in public a few times already. Last month, we got a glimpse of it while driving on public roads in Korea.
Despite the camouflage, new EV-like design elements were visible, including updated LED headlights and a full-length light bar. Although it’s still unclear, the electric version appears to be roughly the same size as the current Staria from the side, but slightly wider from the front.
New images posted on the South Korean forum Clien reveal a test car, expected to be Hyundai’s Staria electric minivan, without camo.
Like most Hyundai test cars, the prototype has a black front and a grey body. It still features a similar look to other prototypes we’ve seen, but you can clearly see the new facelift.
Earlier this year, a Staria EV was spotted in a parking lot in Korea, featuring a similar look. The electric version is nearly identical to the Staria Lounge, but with an added charge port and closed-off grille.
The Hyundai Staria EV is expected to make its global debut later this year. Technical details have yet to be revealed, but it’s expected to feature either a 76 kWh or 84 kWh battery, providing a range of around 350 km (217 miles) to 400 km (249 miles).
Hyundai’s electric SUV arrives after Kia introduced its first electric van, the PV5, which launched in Europe and Korea earlier this year.
In Europe, the Kia Passenger PV5 model is available with two battery pack options: 51.5 kWh and 71.2 kWh, providing WLTP ranges of 179 miles and 249 miles, respectively. The Cargo version has a WLTP range of 181 miles or 247 miles.
Source: TheKoreanCarBlog, Clien
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