Scottish Mortgage has owned Tesla stock since 2013, and over the time has endured large drawdowns in the share price as well as its most recent stratospheric rise.
Managers James Anderson and Tom Slater wrote in the trust's interim results report earlier this month that the underlying return picture for Tesla was “far from an aberration”.
They said: “Tesla has made significant operational progress. It has successfully added capacity and the production ramp of its latest model has progressed far more smoothly than for any of its previous vehicles.“Demand for its products is strong and the response from its traditional competitors remains muted. It is still our largest holding even though we sold over 40% of our shares during the period to ensure that the portfolio has an appropriate level of diversification.”
Watching with interest.