Tesla Rises as Musk’s $1 Billion Stock Buy Boosts Investor Confidence

On Monday, Tesla shares surged 6% after CEO Elon Musk revealed a $1 billion stock purchase, marking his first open-market buy since early 2020. Musk acquired 2.57 million shares at $372–$396 each, signaling strong confidence in Tesla’s future and reinforcing his push for greater control. The move follows the board’s proposed $1 trillion compensation plan, addressing Musk’s demands and ambitious targets. Despite rising shares, Tesla has lagged in the “Magnificent 7” tech stocks and faces margin pressures from soft EV demand, higher costs, and competition. Musk’s political activity was deemed not to have affected sales.