Elon Musk buys $1B of shares of Tesla stock (NASDAQ: TSLA), the stock is up over 7% in per-market

Shares of (TSLA) are trading roughly 6% higher in premarket on Monday after its CEO Elon Musk disclosed a nearly $1 billion open-market purchase of the company’s stock. Musk bought 2.57 million Tesla shares on Sept. 12 at prices between $372.37 and $396.54 per share.

Tesla stock is now pushing back into $420 territory, the price point Musk and his followers often jokingly reference, for the first time since January 2025.