Musk hails 'smart' Korean investors as Tesla reclaims title of most-held foreign stock

By Park Ung Posted : July 10, 2024, 14:57 Updated : July 10, 2024, 14:57
This image is captured from  X account Teslaconomics
This image is captured from X.
SEOUL, July 10 (AJU PRESS) -Tesla CEO Elon Musk called Korean investors "smart people" in response to news that his company has become the most-held foreign stock in the country.

The world's richest person made the remark on Monday in a comment on a post on X, formerly known as Twitter, which read, "$TSLA is the #1 stock held by Koreans today.” The post on Teslaconomics, a Tesla news account, featured an image combining the Korean national flag with the world's most valuable automaker's logo.

According to the Korea Securities Depository, as of July 4, Korean investors held about $14.67 billion (20.28 trillion won) worth of Tesla stock, allowing it to reclaim its position as the most-held foreign stock by Koreans, surpassing NVIDIA after about 40 days.

Tesla had held the top spot for nearly four years since July 2020 before being overtaken by the leading AI chip manufacturer in late May. 

On Tuesday, Tesla's stock price closed at $262.33 on the New York Stock Exchange, a 3.71 percent increase from the previous day. This marked the stock's rise for 10 consecutive trading days.

The uptick was led by Tesla's Q2 deliveries of 443,956 cars, which were 4.8 percent lower than the previous year but 14.8 percent higher than the preceding quarter.  

This is not the first time the owner of SpaceX and Tesla has mentioned Korea on the platform he bought in 2022. 

On the last night of 2023, he uploaded a night satellite photo of the Korean Peninsula, contrasting the South, bright with building lights, and the North, immersed in darkness. He wrote, "Night and day difference."
Satellite photo of the Korean Peninsula posted by Elon Musk Yonhap
A satellite photo of the Korean Peninsula posted on X by Elon Musk on Dec. 31, 2023. Yonhap.

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