Graniteshares : Tesla 3x long ETP delivers over 3,000% growth since July 2020 – five times better than Bitcoin
Will Rhind, Founder and CEO at GraniteShares
Electric vehicle maker Tesla is a $1 trillion stock market success story with growth of more than 74.3% year to date .
GraniteShares 3x Long Tesla Daily ETP listed on the London Stock Exchange seeks to provide three times the daily performance of Tesla Inc shares and has delivered growth of 160.8% over the same period, compared with 110.65% for Bitcoin.
Since inception on 1st July 2020, 3x Long Tesla Daily has delivered growth of 3,086.98% which is more than five times better than Bitcoin at 569.17%. Over that period Tesla stock has gained 469.50%.
During the first week of November more than $55 million has been traded in the GraniteShares 3x Long Tesla Daily ETP, compared to $8.5 million traded in the GraniteShares 3x Short Tesla Daily ETP.
Will Rhind, Founder and CEO of GraniteShares, said: “Tesla has been one of the most exciting stock market stories of the past decade. Whether you a Tesla superfan or a devout sceptic there has been some major volatility along the way as markets react to announcements by CEO, Elon Musk.
“Recent news about Hertz and the signing of a contract for 100,000 Tesla’s is another illustration of the volatility, but our analysis shows going long Tesla has been a strong investment beating out Bitcoin for example. Increasingly we are seeing sophisticated investors adopting strategies which used to be exclusive to institutional investors and Tesla is another example of the opportunities.”
GraniteShares, which offers a range of 3x short and 3x leveraged ETPs on popular UK, US, and French stocks, has doubled assets under management to $200 million in Europe in just six months on its range of products.
It hit the $100 AUM milestone in April this year and has continued to build driven by new products and expansion with its products listed on the London Stock Exchange and from September on Euronext in Paris.
It is seeing record levels of trading in its leveraged and short LSE listed ETPs. In Q3 2021, $300 million was traded, a 43% increase compared to the volume seen in Q4 of 2020.