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Tesla stock surges, turning positive year to date as Elon Musk buys $1 billion in shares

Tesla (TSLA) stock rose as much as 8% in early trading on Monday, wiping out its year-to-date losses after CEO Elon Musk purchased shares of the EV maker for the first time since 2020. Tesla disclosed that Musk purchased 2.6 million shares on Friday, worth roughly $1 billion. Investors saw the move as a strong vote of confidence in the company as it leans into autonomous technologies such as robotaxis and humanoid robots. The purchases came about a week after Tesla's board proposed a pay package for Musk ...