Korean purchases of Tesla shares hit a one-year low in May amid a drop in its price, data showed Wednesday.
Hyundai Motor was picked as the preferred electric vehicle (EV) manufacturer in Korea, followed by Tesla, according to a survey done by xEV Trend Korea 2021.
The falling price of bitcoin and its shrinking share of the global cryptocurrency market has raised concerns of a potential repeat of the 2018 cryptocurrency crash.
Bitcoin prices plunged following comments by Tesla CEO Elon Musk that the company will not accept the cryptocurrency for the purchase of cars.
With capital gains tax reporting season nearing, in May, there are expected to be many more punters facing tax shocks as Koreans trading foreign stocks increased rapidly last year as liquidity flooded the market and stocks soared.
Tesla fever appears to be subsiding in Korea as the tech-savvy electric vehicle (EV) maker faces tough competition from other premium models and local alternatives.
For the price of a coffee, you can become an investor. No need to meet any minimums or buy in round lots of listed shares. In some cases, 100 won (8.8 cents) is enough.
Global sales of electric vehicles (EVs) rose by 44.6 percent last year despite the coronavirus pandemic.
A 31-year-old office worker purchased some 3 million won ($2,670) worth of Tesla shares last month.
The price of bitcoin rose to an all-time high of $49,716 on Sunday as possibilities grow for the cryptocurrency to be accepted by major global companies like Tesla.