Tesla Stock Is More Popular Than Ever Among Individual Investors

Individual investors can’t get enough of Tesla Inc.

In recent weeks, they have scooped up shares of Elon Musk’s electric-vehicle maker at a frenzied pace, setting repeated records for one-day purchases. Already in 2023, they have spent a net $13.6 billion on Tesla shares, approaching the record sum of nearly $17 billion for all of last year, according to Vanda Research.

Their interest in Tesla dwarfs that in any other security, by far.

“The aggregate retail inflows into Tesla have never been higher,” said Giacomo Pierantoni, head of data at Vanda, who added that...