Tesla (NASDAQ:TSLA) surged in premarket trading Monday, climbing about 6%, after CEO Elon Musk revealed he had scooped up nearly $1 billion worth of the company’s shares on the open market.
Regulatory filings show Musk acquired 2.57 million Tesla shares on September 12, paying between $372.37 and $396.54 per share.
The buying spree has pushed Tesla’s stock price back toward the $420 level — a figure Musk and fans frequently reference in jest — marking the first time the stock has neared that threshold since January 2025.
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