Tesla Trader's Wild Bet On Elon Musk's Company Ends In A $306M Lawsuit Spiral

A Canadian trader, Christopher DeVocht, turned a modest investment into a staggering $306 million by betting on Elon Musk‘s Tesla Inc. (NASDAQ:TSLA) stock. However, he lost it all during the 2022 bear market and is now suing the Royal Bank of Canada (RBC) and Grant Thornton, alleging “inadequate advice.”

What Happened: DeVocht, a carpenter from Vancouver Island, Canada, capitalized on the pandemic-induced stock surge, turning his C$88,000 (approximately $65,000) investment with RBC into a C$415 million (about $306 million) fortune by November 2021, reported Business Insider.

However, DeVocht and his advisors chose to hold onto the stocks, resulting in significant losses during the 2022 bear market. DeVocht alleges that the advice he received from RBC and Grant Thornton was negligent and ...

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