Tesla jumps after Musk acquires EV maker’s shares worth $1 billion
Tesla shares jumped more than 8% in premarket trading on Monday after a regulatory filing showed that CEO Elon Musk had purchased nearly $1 billion worth of the electric-vehicle maker’s stock.
The stock purchase reinforces Musk’s push for greater control over Tesla, which is racing to meet its ambitious targets on robotaxis, artificial intelligence and robotics as it looks to pivot from an EV maker to a tech leader. As of December, Musk held a roughly 13% stake, according to LSEG data.
