Tesla shares gain after Elon Musk discloses purchase of 2.57 million shares

Core Insights - Elon Musk, CEO of SpaceX and Tesla, made his first stock purchase in the open market since February 2020, acquiring 2.57 million shares for approximately $1 billion, which is seen as a vote of confidence in Tesla by traders [1] - Following Musk's announcement, Tesla shares rose by 6% in premarket trading on Monday, although they closed slightly lower for 2025, despite a 25% increase over the last three months [2] Group 1 - Elon Musk's insider purchase of 2.57 million shares is significant, marking his first acquisition since February 2020 [1] - The total value of Musk's stock purchase is about $1 billion, indicating strong confidence in the company's future [1] - Tesla shares experienced a 6% increase in premarket trading following the news of Musk's purchase [2] Group 2 - Despite a recent rally, Tesla shares closed slightly lower for 2025, highlighting some volatility in the stock [2] - Over the last three months, Tesla's stock has increased by more than 25%, reflecting positive market sentiment [2]