Elon Musk has signaled his intent to stick around at Tesla by buying 2.57 million shares in the EV manufacturer on Monday morning, valued at around $1 billion. The purchase, which is the first time Musk has bought stock on the open market since 2020, saw share prices in Tesla surge by 6 percent, in what is being interpreted as a symbolic gesture of faith by the CEO after his political activities this year saw stock prices tumble. “It’s a huge vote of confidence from Musk and the bulls love seeing this,” tech analyst Dan Ives told CNN. “It sends a positive signal after a very tumultuous year for Musk and Tesla shareholders.” The move comes a week after Tesla offered Musk a record-breaking new pay package, which could see him become the world’s first trillionaire, if the company can increase
Tesla Share Price Jumps After Musk Buys $1 Billion in Shares

129