Saxo Bank included Tesla ($TSLA) in its top 10 most traded stocks of July. According to the analysis emailed to Teslarati, the S&P 500 posted the “most bullish monthly performance in almost 24 months.” Notably, the U.S., UK, and Asian economies are flirting with recession. Elon Musk has spoken about this noting that things are seeming to get better.
During the Tesla Cyber Roundup last week, Elon Musk answered a question about recession. He said prices are trending down and we could be in a mild recession. “We will have a recession, I think a relatively mild recession. I guess it’s a mild recession for, I don’t know, like 18 months or something.”
According to the Saxo Bank analysis, Tesla was number four on the list of its top 10 most traded stocks of July. Remarkably, Tesla’s shares have risen by almost 50% since May and by over 27% through July. One key reason for the July surge was the anticipation of the 3:1 stock split that Tesla shareholders recently voted in favor of.
“The proposals would signal Tesla’s second stock split in as many years, with the company aiming to reset the ‘market price of its common stock’, according to its annual proxy statement. It also hopes a further stock split would make its common stock ‘more accessible to [its] retail shareholders’. The stock split wouldn’t alter the company’s overall value or market cap. Instead, it would triple each existing share, widening its pool of prospective investors.”
The Saxo Bank’s top ten stocks included companies that specialize in various industries from biotechnology, oil and gas, and technology to banking and finance. In order they are:
- Bavarian Nordic A/S
- ASML Holding
- Shell PLC
- Tesla
- Apple
- ING Groep
- Just Eat Takeaway
- Amazon
- Meta
- Alphabet (Class A stock)
In July, Tesla announced its second-quarter earnings and ended the quarter with the highest vehicle production month in its history. Gigafactory Shanghai has an annual capacity of over 750,000 cars.