Christopher DeVocht lost $320M on Tesla — a BC man's epic trading rollercoaster

Christopher DeVocht was a retail day trader from British Columbia, Canada, who accumulated a massive position in Tesla stock. Between 2020 and 2021, his trading generated enormous profits — at one point earning $415 million CAD on paper from his Tesla bets, making him one of the most successful retail traders in Canadian history.

In 2022, the tide turned. Tesla stock declined sharply as interest rates rose and competition in the electric vehicle market intensified. DeVocht's concentrated Tesla position suffered catastrophic losses, wiping out his entire profit and leaving him with a loss of approximately $415 million CAD ($320 million USD).

DeVocht subsequently sued the Royal Bank of Canada (RBC), alleging that the bank had been negligent in allowing him to continue trading without proper risk controls. He claimed that RBC should have intervened to stop his trading when the losses mounted. The lawsuit brought attention to the responsibilities of banks toward retail traders using margin accounts.

The case became a cautionary tale about concentrated retail trading. A single-stock position, no matter how successful, carries the risk of complete reversal. The loss was among the largest ever sustained by an individual retail trader.