Tesla ($TSLA) included in Saxo Bank top 10 July stocks
Saxo Bank included Tesla ($TSLA)Ā in its top 10 most traded stocks of July. According to the analysis emailed to Teslarati, the S&P 500 posted the āmost bullish monthly performance in almost 24 months.ā 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. āWe will have a recession, I think a relatively mild recession. I guess itās a mild recession for, I donāt know, like 18 months or something.ā
According to the Saxo Bank analysis, Tesla was number four on the list of its top 10 most traded stocks of July. Remarkably, Teslaās 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.
āThe proposals would signal Teslaās second stock split in as many years, with the company aiming to reset the āmarket price of its common stockā, according to its annual proxy statement. It also hopes a further stock split would make its common stock āmore accessible to [its] retail shareholdersā. The stock split wouldnāt alter the companyās overall value or market cap. Instead, it would triple each existing share, widening its pool of prospective investors.ā
The Saxo Bankās 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.