The $20 million gives The Nothing Of Tesla another 56,915 stocks.
Elon Musk is doing everything he can to prove everybody else wrong. The company recently made strides in both production and delivery numbers, and seemingly, they're taking away production and the delivery hell away.
And wow, Elon Musk has bought another batch of Tesla stock, putting his money where his mouth is. In return, this is shutting down any short sellers who are constantly harassing Musk and Tesla. The high-praised eccentrical billionaire investor and inventor - now serving the role of Nothing at Tesla - bought 56,915 stocks, worth $20 million. He now owns nearly 34 million shares. This was revealed in a Tweet by TraderFloridasFIL, showing us the SEC form, showcasing the changes in beneficial ownership of the company.
This move makes Elon Musk even more ready to show the world how much trust he's got in TSLA stock, but also, to help him secure even more mid-term funding for his company. While we at InsideEVs aren't allowed to own automotive stock (for obvious reasons), we do tend to keep an eye out for the automotive stock market. And for the most part, TSLA stock has been on the upward trajectory in recent months, pushing more and more investors into putting their money into it.
However, for Elon Musk, despite the continual mess, lawsuits, settlements, stock turbulence, shorter efforts, and other, more or less pressing items, he continues to continues to put his financial eggs back in the basket and buy even more Tesla stock. While some more prudent investors would shy away from this, in reality, this shows you how much trust the CEO puts in his own company.
With increased production and delivery, the upcoming Tesla Semi, Solar Roof and other, more or less interesting products coming out, Tesla's future finally seems bright. And Elon Musk knows that.