Since listed on the London Stock Exchange on 1 July 2020, GraniteShares 3x Long Tesla Daily ETP has seen its value increase by over 1,500 per cent, which would have turned a USD66,000 investment into over USD1 million.Since July, USD56.6 million has been traded in the GraniteShares 3x Long Tesla Daily ETP, compared to USD29.4 million traded in the GraniteShares 3x Short Tesla Daily ETP.
Will Rhind, Founder and CEO at GraniteShares, says: “Tesla’s share price has increased more than seven-fold in the past year, and this has propelled Elon Musk’s fortune to a whopping estimated USD185 billion.
“The vast majority of those that have invested in Tesla have seen incredible growth with a number of diehard investors becoming ‘Teslanaires’. For the vast majority who have used our leveraged and short Tesla ETPs, they have clearly called it right.
“The election of Biden as President of the United States of America is probably good news for Tesla and the electric vehicle market sector, as it is likely there will be a much stronger green agenda there over the next few years.”