Tesla Fans Keep Buying, Unbowed by the $720 Billion Wipeout
- Stock closes up 3.3% Wednesday after a seven-day losing streak
- Reduced output in China, discounts in US stoke demand worries
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Even the worst year ever for Tesla Inc. shares hasn’t shaken individual investors’ faith in the electric-vehicle maker and its billionaire chief executive officer, Elon Musk.
Such retail traders have continued piling into the shares, data from Vanda Research show. In fact, they’ve been strong buyers every day this month, driving their net purchases to record highs in both December and the fourth quarter.