Tesla popular among Millennial investors amid the executive departures

Francois Mori/AP

• Tesla is still one of the most popular stocks among millennial investors despite its recent executive departures.
• Tesla was the second most-added stock on Robinhood over the past week, with a total of 11,316 investors buying shares, up 13% from last week.
• In the past year, more than 10 key executives have left the company — three in the past week.
• Watch Tesla trade in real time here.

Millennial investors still have faith in Tesla despite all of its executive departures, according to data from Robinhood, a no-fee brokerage popular among younger traders.

Shares were down more than 10% on Friday, after the company said that its chief accountant, Dave Morton, had resigned Tuesday, and that Gaby Toledano, its human-resources chief, was extending a leave of absence. Also on Friday, it was last day for Sarah O’Brien, the electric-car maker’s head of communications . 

In addition, Justin McAnear, Tesla’s vice president of worldwide finance and operations, is also leaving the company, as Tesla confirmed with Business Insider on Wednesday. In the past 12 months, more than 10 key directors have left the electric-car maker.

Despite that, Tesla is still one of the most-popular stocks among millennial investors. On Robinhood, Tesla was the second most-added stock over the past week, with a total of 11,316 investors adding shares, up 13% from last week, according to Business Insider’s tracking of the data.

Tesla is the 14th most popular stock on the brokerage, up from 17th last week. 

Tesla shares have been under pressure over the past month, in the wake of CEO Elon Musk’s attempt to take the electric-car maker private. 

Musk tweeted on August 7 that he was considering taking Tesla private at $420 a share and had “funding secured.” He later reversed course, but his tweets triggered an SEC subpoena and relentless attacks from investors betting against the company.

And while Tesla was considering going private, Nio, which has been touted as the Tesla of China, held its initial public offering in the US on Wednesday. Despite a disappointing debut, Nio surged 60% on Thursday.

Tesla shares have lost 19% over the past month, and are down 9% this year.

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