Tesla CEO Musk Buys $10 Million In TSLA Stock
Yes, Tesla CEO Elon Musk has once again dipped into his own cash flow to buy up a nice chunk of TSLA stock.
Musk has certainly been commenting on the company’s stock as of late. He likes to make pokes at short sellers from time to time. In a recent social media post, the CEO acted as though he was trying to help these stock shorters by warning that there will soon be a “next level short burn of the century.”
Looks like sooner than expected. The sheer magnitude of short carnage will be unreal. If you’re short, I suggest tiptoeing quietly to the exit … https://t.co/A0Q90pSLKA
— Elon Musk (@elonmusk) May 5, 2018
What does this mean? It’s assumed that Musk is implying that people will be in a huge hurry to get rid of TSLA stock rapidly when prices go on a huge upward surge. Of course, this type of comment causes all sorts of speculation. Does Tesla have a big reveal coming soon? Is Model 3 production really going to ramp up exponentially? What gives?
We honestly have no way of knowing for sure what Elon’s intentions are with this warning. However, what we do know from a recent SEC filing is that the CEO himself just bought up $10 million in TSLA stock. These 33,000 shares are not part of the usual allotment that he is entitled to through various compensation plans. Instead, he dipped into his own bank account to purchase the stock.
It’s hard to say exactly how these recent comments, and now the CEO’s big buy may impact the market cap and short seller situation. We shall see as time progresses.
Let us know what you think the story is …
Why did Musk suddenly spend on stock? What does he have up his sleeve? We’d love to hear your thoughts in the comment section below or on our Forum.
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