South Korean Investors Dump $657M in Tesla Stock, Chase Crypto Returns Instead
South Korean retail investors sold a net $657 million in Tesla stock during August, marking the largest outflow since early 2023 as traders pivot toward crypto investments amid growing disillusionment with the electric vehicle maker.
According to a Bloomberg report, the dump resulted from waning enthusiasm among Tesla’s most loyal global retail base, with investors instead favoring volatile crypto proxies, such as Bitmine Immersion Technologies, which attracted $253 million in net inflows.
Individual Korean investors reduced their U.S. big tech share purchases from a monthly average of $1.68 billion between January and April to just $260 million in July, according to the Korean Center for International Finance.
Crypto-related stock…
