Elon Musk buys $25M in Tesla stocks

Business 6/14/2018, 12:38 AM
Elon Musk buys $25M in Tesla stocks

Tesla, Inc.'s chief executive officer Elon Musk bought nearly $25 million worth of the company's shares, according to United States Securities and Exchange Commission (SEC) filing. When the stocks were trading at a range between $342 and $347, the CEO purchased 72,500 shares.

Earlier in May, the electric car maker company founder bought around 33,000 Tesla shares, worth around $10 million. Owning around 33.7 million shares of the energy storage manufacturer, Musk is Tesla's largest shareholder. The move comes shortly after the company announced on Tuesday it would cut around 9% of its workforce, or about 3,500 people.

In after-market trading, the Palo Alto-based company's was up 0.85%, after ending the previous session 0.59% in the green.

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