Hi everyone, I just wanted to post here as I’ve reached out to help but am waiting for a response to see what’s happening with this.
Basically, I purchased 109.8 Tesla shares at $220 in pounds, but for some reason it didn’t break even until it hit $240. I understand FX rates can fluctuate the price between £ and $, but surely a $20 dollar swing can’t be right to go green? On top of that. It’s now trading at $260. I check very often and when it was trading at this same price two months ago I was up by around 2.2k. However now at the same price, only two months later I’m only up by 1.1k, or at least over £800 less than I was then once I calculated it. Again, I understand fluctuating FX rates pound to dollar but from what I can see this has barely moved over the past two months in order for me to be missing such an amount of the gains that I had in such a small time?
The exchange rate has gone from 1.26 to 1.34 ( 5.6% change ) in the last few months so that will.make a significant difference on a c. £20k investment.
So here’s the screenshots below, as you can see teslas price is almost back at its highest peak since July at which point my profit was over 1k more as reflected in my portfolio (Tesla is 95% of my portfolio so the other changes in that time would be very minute).
I believe when Tesla was last trading at $260 I was around 2.3k in profit, whereas now I only stand at around 1.3k even though it’s at the same price.
Would the FX change you mentioned be that drastic?
Hi all, thanks for your clarity on this especially @Jim_mcgrain it’s really clear now that I’ve seen those calculations you gave. I guess I was being pretty naive as to what a difference the FX price makes even over a short period.
