Tesla Stock Climbs Nearly 7% In Monday Pre-Market: What's Going On?

Shares of Tesla Inc. (NASDAQ:TSLA) climbed over 6.57% during pre-market trading session on Monday after CEO Elon Musk purchased massive number of shares, according to a recent regulatory filing.

Musk's Trust Buys Tesla Shares Worth $1 Billion

Musk, through the Elon Musk Revocable Trust, bought 2.57 million shares of Tesla on Friday, September 12. The shares were acquired at prices ranging from approximately $371 to $396 per share, as per a Form 4 filing with the Securities and Exchange Commission (SEC) released on Monday. This brings his indirect ownership to approximately 413 million shares.

The filing lists multiple transactions, such as 22,537 shares at $371.90, 133,198 shares at $386.61, and 332,908 shares at $393.70. These purchases have ...