Are you looking to buy Tesla stock in Canada but don’t know where to start? Rather than hiring a broker to manage their money, more Canadians are turning to do-it-yourself stock trading. The rise of online investment firms like Questrade and Wealthsimple has tremendously benefited this.
Overview of Tesla Inc
Tesla Motors was formed in 2003 by Martin Eberhard and Marc Tarpenning and is now one of the most well-known names in clean energy. Nikola Tesla, a famous electrical engineer. He invented the modern AC system (alternating current electricity supply system). The company was founded in San Carlos, California, and located in Palo Alto, California.
The company gets recognized for its assortment of ecologically friendly electric automobiles, solar panels, and solar roof tiles to make energy and transportation sustainable utilizing solar power and electric vehicles. Tesla makes a significant profit from the sale of Zero Emission Vehicle Regulatory Credits to other automobile manufacturers, in addition to its tangible range of products.
Stock History of Tesla, Inc
Tesla (TSLA) went public on June 29, 2010, offering 13.3 million shares to the general public at $17.00 a share. The ticker symbol for the company’s stock is TSLA and traded on NASDAQ. Since the company’s IPO in 2010, the Tesla stock has gone through one split. The split occurred less than a year ago, Tesla’s skyrocketing stock price and growing sales have analysts speculating if another is imminent. By decreasing the share price, stock splits make a company’s equities more accessible to new investors.
How to buy stock
Study and Research Tesla Stock
Investing in individual stocks, such as Tesla stock, or shorting Tesla stock, is similar to playing the lottery or gambling. The research and study will assist the investor in gathering background information on Tesla, evaluating the stock’s performance, and eventually deciding whether or not to purchase Tesla stock.
Make a strategy and plan
To profit from the Tesla stock opportunity, investors must build a financial plan and strategy. In terms of the funds available for investment and the understanding of Tesla stock, the investor must first establish personal financial goals and lay the framework for investing.
Selecting an Investment Broker
Canadians can use an online broker, a stockbroker, a financial advisor, or a Robo-advisor to invest.
Tesla Stock Investing Funds
It’s a good idea to keep particular stocks to less than 5% of your whole investment portfolio, but the quantity to invest is primarily determined by the investor’s financial resources and share loan alternatives. Most stock trading systems will ask the investor to specify the desired investment amount and the number of shares that money will purchase.
Investing in Stocks
Tesla stocks can be purchased using either registered or non-registered accounts. The following are some notable investment accounts:
- Tax-Free Savings Account (TFSA)
- Registered Retirement Savings Plan (RRSP)
- Registered Education Savings Plan (RESP)
However, an investor can use a Contract for Difference (CFD) Trading Account to short Tesla shares. This account allows investors to speculate on the price movement of fast-moving financial markets.