Equitable Trust Co. Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

Equitable Trust Co. Buys Tesla Shares

In a recent 13F filing with the Securities and Exchange Commission (SEC), Equitable Trust Co. disclosed that it has increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 7.5% during the fourth quarter of 2022. The total value of Equitable Trust Co.'s Tesla holdings is now worth approximately $1.5 billion.

Equitable Trust Co.'s purchase of Tesla shares comes as the electric car maker has been facing a number of challenges, including production issues, supply chain disruptions, and regulatory scrutiny.

Tesla's Recent Challenges

Tesla has been facing a number of challenges in recent months. In December 2022, the company announced that it would be cutting production of its Model Y electric SUV at its Shanghai factory due to weak demand.

Tesla has also been facing supply chain disruptions, which have led to delays in the production of its vehicles. In addition, the company has been facing regulatory scrutiny from the National Highway Traffic Safety Administration (NHTSA) over its Autopilot driver assistance system.

Equitable Trust Co.'s Optimism

Despite Tesla's recent challenges, Equitable Trust Co. appears to be optimistic about the company's long-term prospects. The investment firm has a long history of investing in technology companies, and it believes that Tesla is well-positioned to benefit from the growing demand for electric vehicles.

Equitable Trust Co.'s purchase of Tesla shares is a sign of confidence in the company's future. The investment firm believes that Tesla has the potential to be a long-term winner in the electric vehicle market.