US EditionTesla rallies to an eight-month high after Elon Musk buys more than $1B worth of shares
- On Monday, Elon Musk revealed that he acquired approximately 2.57 million Tesla shares, spending close to $1 billion, with share prices ranging between $372 and $397 each.
- This purchase, Musk's first open-market buy since early 2020, followed the Tesla board's $1 trillion compensation plan proposal for him just over a week earlier.
- Musk's stock acquisition has pushed Tesla shares up 6% in early trading and signals his renewed commitment amid slowing EV demand and rising competition.
- According to Matt Britzman, an equity analyst at Hargreaves Lansdown, Musk’s recent stock purchase strongly indicates his renewed full commitment, signaling that Tesla’s progress story is regaining momentum after earlier uncertainties.
- The purchase may boost investor confidence but Tesla now faces challenges in meeting ambitious targets and sustaining growth in a mature EV market with regulatory and margin pressures.
134 Articles
134 Articles
Tesla CEO Elon Musk has purchased approximately one billion dollars (850 million euros) of shares from the electric car manufacturer. As a result, the price of the securities increased sharply – making South Africans even richer. On the stock exchange, the acquisition was seen as a demonstration of confidence for the future of Tesla. The share temporarily increased by about six percent. Musk bought more than 2.5 million shares on Friday, as beca…
Elon Musk buys $1B worth of Tesla shares
Tesla CEO Elon Musk on Monday disclosed the purchase of about $1 billion in shares of the electric-vehicle maker in a show of confidence about the company's future.A regulatory filing disclosed that Musk bought 2.57 million shares of Tesla stock on Friday at a price between $372.37 and $396.54 per share.Musk's purchase marks the first time since early 2020 that he bought Tesla stock on the open market and comes as the company is transitioning to…
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