Elon Musk spent $25 million to buy more Tesla stock, boosting stake to about 20%
Shares of Tesla Inc. TSLA, +0.12% rose 0.2% in premarket trade Tuesday, after the company disclosed late Monday that Chief Executive Elon Musk spent $25 million to buy more shares in the electric car maker, increasing his stake to just under 20%. Musk bought 102,880 shares on May 2 at an effective price of $243.00, according to filing with the Securities and Exchange Commission. The stock has rallied 4.6% the past two sessions to close Monday at $255.34.
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