While Tesla’s stock has remained polarizing for investors, retail investors are a little more supportive of the automaker’s shares — especially given that it has become the top-traded stock on a popular trading app.
Tesla has replaced Apple as the top-held stock on the trading platform Robinhood, according to a report on Thursday from The Motley Fool.
Apple has been the platform’s top-held stock for the past several years, but Tesla has claimed the throne starting at the beginning of August.
As for why Tesla’s stock has become so popular, it’s not too hard to understand why.
For one, Tesla’s shares have jumped by over 1,800 percent in the trailing three-year period.
Tesla Stock Offers ‘Compelling Opportunity,’ Says Deutsche Bank https://t.co/POe4FPtYRF
— TeslaNorth.com (@RealTeslaNorth) July 18, 2022
Additionally, the company’s shares have jumped by more than 17,100 percent in the trailing decade, showing that Tesla is truly a momentum-based stock.
In all of the past five quarters, Tesla has generated between $1.14 billion and $3.32 billion in profits from generally accepted accounting principles (GAAP).
Tesla has gained much of its praise from its electric vehicles (EVs), but also in future evaluations based on upcoming plans for widely released automated driving, the Optimus robot, and a range of other projects the company is getting into.
Today, Tesla will hold its annual shareholder meeting, where it is likely the company’s proposal for a 3-to-1 stock split will be approved by shareholder vote.
Apple also plans to make its own self-driving car, though it’s clear that Tesla is currently the EV industry’s dominant force — and a major player in general technology, too.
