[로이터 = 연합뉴스]Despite the weakness in the New York Stock Exchange, it was found that Seohak Ants (Korean investors who invested in overseas stocks) concentrated on buying US big tech companies. In particular, the buying trend is concentrated on US electric vehicle maker Tesla.
◆ Tesla maintains its first place in terms of net purchases and storage of Seohak Ants
According to the Korea Securities Depository on the 24th, Tesla was the foreign stock that Korean investors bought the most over the past week from July 14 to 20. During this period, investors net bought Tesla for $34.84 million (regarding 45.8 billion won). Alphabet Class A ($13.53 million), Unity Software ($10.86 million), and Microsoft ($4.41 million) were also among the top net buyers of Seohak Ants.
Since the beginning of the year, domestic investors’ net purchases of Tesla have amounted to $2.232.23 million as of the 3rd of this month, or regarding 2.9 trillion won in Korean won. In terms of domestic and foreign stocks, the amount of individual net purchases ranks second following Samsung Electronics.
Tesla closed at $815.12 on the New York Stock Exchange on the 21st (local time), up 9.78% from the previous trading day. Tesla stock broke the $800 mark for the first time in regarding two months since May 10.
Tesla’s better-than-expected second-quarter earnings impacted the stock price. Tesla announced in its second quarter report the day before that its net profit was $2.25 billion (regarding 2.96 trillion won), doubling from $1.14 billion in the same period last year. Adjusted earnings per share (EPS) came in at $2.27, beating Wall Street’s previous estimate of $1.81.
Although it recovered to ‘8 hundred sla’ the previous day, Tesla’s stock has fallen 32.1% this year alone. However, the buying trend of individual investors continued.
Tesla is overwhelmingly number one in terms of the amount of foreign stocks held. The total amount of foreign currency securities held in the first half of this year was $83.53 billion, while Tesla’s deposit amounted to $11.63 billion, accounting for regarding 14%.
◆ Stock market “Tesla, record solid margins… will continue to grow in the 50% range”
The stock market evaluated that Tesla recorded a solid margin even under unfavorable conditions. New factories in Texas and Berlin were put into operation in the second quarter, but there were many concerns that the performance would be weakened as the Shanghai factory in China closed due to the impact of the corona virus. In fact, EV sales decreased by 17.9% from the previous quarter, but the gross profit margin (GPM) of the automobile division defended the margin by passing on the cost increase to the selling price. The energy business division recorded a GPM of 11% for the first time in 10 quarters, with solar power and ESS sales increasing 121% and 68% QoQ.
“Despite the supply chain disruption, Tesla’s annual vehicle sales are expected to continue to grow by 50 percent,” said Ham Hyung-do, a researcher at Shinhan Investment Corp. said.
Tesla’s disposal of 75% of its bitcoin holdings in the second quarter is also likely to lower share price volatility. Tesla explained that it reduced the proportion of digital assets on the company’s balance sheet to $218 million and increased cash by $936 million.
“Bitcoin was one of the factors that fluctuated Tesla’s stock price,” said Kang Jae-goo, a researcher at Hanwha Investment & Securities.
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