Elon Musk bought $10 million of Tesla shares on Valentine’s Day | Tech News

Elon Musk bought $10 million of Tesla shares on Valentine’s Day

Musk purchased the shares at an average of $767 each, raising his holding to 34.1 million, or 18.5% of the Palo Alto-based company.

By: HARRY SUHARTONO
| Updated on: Aug 20 2022, 19:30 IST
Elon Musk made a big purchase on Valentine’s Day.
Elon Musk made a big purchase on Valentine’s Day. (REUTERS)

Elon Musk bought 13,037 Tesla Inc. shares for $10 million on February 14, according to a filing with the U.S. Securities and Exchange Commission.

Musk purchased the shares at an average of $767 each, raising his holding to 34.1 million, or 18.5% of the Palo Alto-based company. Tesla's shares have soared more than doubled this year and closed at a record high of $917.42 on Wednesday.

You may be interested in

MobilesTablets Laptops
7% OFF
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
28% OFF
Samsung Galaxy S23 Ultra 5G
  • Green
  • 12 GB RAM
  • 256 GB Storage
Google Pixel 8 Pro
  • Obsidian
  • 12 GB RAM
  • 128 GB Storage
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage

The rally, initially fuelled by a surprise third-quarter profit, has left Tesla with a market value greater than that of General Motors Co., Volkswagen AG and Fiat Chrysler Automobiles NV combined. Traders are realizing the dangers of betting against the company: roughly 15% of its shares available for trading are short, the lowest in at least a year, according to S3 data.

Also read
Looking for a smartphone? To check mobile finder click here.

Musk was in Shanghai at the start of the year to open Tesla's first manufacturing facility outside the U.S. The coronavirus outbreak in China led to a halt in production at the facility, though operations restarted last week.

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 20 Feb, 17:16 IST
NEXT ARTICLE BEGINS