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Tesla ($TSLA) Stock Price Inspires Elon Musk Fervor in Korea

Park Sunghyun and her husband sold their house in Seoul, moved right into a rental apartment making use of their 7-year-old son, and plowed the familys $230,000 of savings into shares of Tesla Inc.

Theyre not by yourself in betting everything on Elon Musks electric-car maker. Through the entire pandemic, individual South Koreans thronged into Tesla stock, increasing their combined holdings greater than a hundredfold, to exceed $15 billion. It creates them key stakeholders in another of the biggest companies on the planet by market value, with a collective share as large as those of Larry Ellison or US money manager T. Rowe Price Group Inc. They are usually dip buyers who jump in once the stock retreats, helping curb declines.

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