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Tesla Stock Surges as Elon Musk Invests $1 Billion in Shares
Tesla Stock Surges as Elon Musk Invests $1 Billion in Shares
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BTCCSquare news:
Tesla's stock (TSLA) experienced a significant rally, climbing 7.87% on Monday following CEO Elon Musk's purchase of $1 billion worth of shares. Musk acquired 2,568,732 shares at prices ranging from $371.90 to $396.36, bolstering his indirect holdings to 413 million shares through the Elon Musk Revocable Trust. This marks his first open-market buy since 2020.
Wedbush analyst Dan Ives described the MOVE as a strong vote of confidence in Tesla's future, particularly its AI ambitions. Despite a 1.96% year-to-date decline, TSLA remains up 74.59% over the past 12 months, reflecting persistent bullish sentiment among investors.
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