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GraniteShares

Research

TESLA’S GROWING ASSOCIATION WITH CRYPTOCURRENCIES

Posted:
Topic: Technology
Publication Type: Investments , Single stock research
TESLA’S GROWING ASSOCIATION WITH CRYPTOCURRENCIES

TESLA’S GROWING ASSOCIATION WITH CRYPTOCURRENCIES

COULD BE BAD NEWS FOR ITS SHARE PRICE VOLATILITY

 

Will Rhind, Founder and CEO at ETF provider GraniteShares is warning that Elon Musk’s growing association with cryptocurrencies could lead to growing volatility in Tesla’s share price.

Elon Musk has just announced that his rocket company SpaceX will now accept the meme-inspired cryptocurrency dogecoin as payment.  Earlier this year Tesla bought $1.5 billion of Bitcoin, and Elon Musk regularly posts positive comments about cryptocurrencies on Twitter.

Will Rhind, Founder and CEO at GraniteShares said: “Cryptocurrencies are hugely volatile and although many have seen huge recent growth in their valuations, it is not so long ago when these were rock bottom and people talked of cryptocurrency ‘winters’.  I fear that as Elon and Tesla become more aligned to cryptocurrencies, the company’s share price will become increasingly correlated to them and this will bring increased volatility, which will lead to more trading in the stock.”

GraniteShares offers several 3x long and 3X short ETPs on FTSE 100 and S&P 500 single stocks, including Tesla. 

The most traded 3x leveraged GraniteShares single stock ETP in 2021 so far is Tesla (3LTS).  The value traded in it year to date is $147.5 million, which makes up 66% of all of the trading in its 3X long single stock ETPs.

Similarly, the most traded 3x short GraniteShares single stock ETP in 2021 so far is Tesla (3STS).  The value traded in it year to date is $22.4 million, which makes up 41% of all of the trading in its 3X short single stock ETPs.

GraniteShares currently offers 54 exchange traded products (ETPs) listed on the London Stock Exchange. They consist of a suite of index ETPs tracking FAANG stocks and a suite of Short and Leveraged Single Stock Daily ETPs tracking some of the most popular companies in UK and U.S. markets. 

 

 GraniteShares suite of ETPs on FAANG stocks

Product Name

Ticker

GraniteShares FAANG ETP

FANG

GraniteShares GAFAM ETP

GFAM

GraniteShares FATANG ETP

FTNG

 

 GraniteShares Short and Leveraged ETPs on FAANG stocks

Underlying Index

+3x Long

-3x Short

 -1x Short

FAANG

3FNG 3SFG SFNG

GAFAM

3GFM 3SGF SGFM

FATANG

3FTG 3SFT SFTG

 

 GraniteShares Short and Leveraged Single Stock Daily ETPs on UK companies

Underlying stock

+3x Long

-3x Short

AstraZeneca

3LAZ 3SAZ

BAE Systems

3LBA 3SBA

Barclays

3LBC 3SBC

BP

3LBP 3SBP

Diageo

3LDO 3SDO

Glencore

3LGL 3SGL

Lloyds Banking Group

3LLL 3SLL

Rio Tinto

3LRI 3SRI

Royal Dutch Shell

3LRD 3SRD

Rolls-Royce

3LRR 3SRR

Vodafone

3LVO 3SVO

 

GraniteShares Short and Leveraged Single Stock Daily ETPs on US technology companies

Underlying stock

+3x Long

-3x Short

Alphabet

3LAL 3SAL

Amazon

3LZN 3SZN

Apple

3LAP 3SAP

Facebook

3LFB 3SFB

Microsoft

3LMS 3SMS

Netflix

3LNF 3SNF

NIO

3LNI 3SNI

NVIDIA

3LNV 3SNV

Tesla

3LTS 3STS

Uber

3LUB 3SUB

 

GraniteShares: A brief history

GraniteShares is an entrepreneurial ETP provider focused on providing sophisticated investors with innovative, cutting edge investment solutions. We believe the future of investing lies at the nexus of alternative thinking, low fees and disruptive product structures—the core of our high conviction philosophy. Backed by Bain Capital Ventures, we launched our first product in 2017 and are now among the fastest growing ETP issuers with around $1.5 Billion in assets under management spanning a full array of investment strategies.

This press release is issued by Graniteshares Limited. GraniteShares Limited (FRN 798443) is an appointed representative of Duff & Phelps Securities Ltd. (FRN 466588) which is authorised and regulated by the Financial Conduct Authority.

ETPs are issued by Graniteshares Financial PLC, a company incorporated in Ireland.

Investing in GraniteShares ETPs on U.S. listed stocks

Those trading GraniteShares new US leverage and inverse ETPs will not need to complete a W-8BEN form (US Department of the Treasury, Internal Revenue Service, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting).

The ETPs can be held in self-select ISAs and SIPPs.

There is no margin requirement and losses cannot exceed the amount invested.

Granite Shares

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