Elon Musk, without any doubt, is one of the most prominent business magnates in the 21st century. He is directly solving many of the biggest threats of the planet and focusing for a sustainable future. He is CEO of Tesla, SpaceX and Neural ink. He also has an active role in several other companies as well. Two of his noteworthy achievements were Tesla and SpaceX. Both companies have undergone intense hardships and have brought huge changes in a very short time. Though the pace of advancement of both the companies is big, Tesla is still struggling on its financial side. It isn’t sure when Tesla will be raising capital, but Musk seems to keep buying Tesla stocks.
The recent news
Musk brought around 72,000 shares of Tesla stocks from June 12th to 13th for $342.77 to $347 a share. The total shares owned by the tech entrepreneur is around $12 billion as per current prices. Earlier, after a week of the release of fiscal first-quarter earnings of Tesla, on May 7th he had bought 33,000 shares for $295.02 and $302.13. Though insider trading doesn’t worry the short-sellers, it is the Tesla stocks we are speaking here, that seems to have some different rules. One could even wonder that if an even more upside is coming as musk initially bought the share for $300 and during the second round he bought for $340
An interesting theory of Insider Buying
During the annual meeting, Musk spoke about one of the biggest problems of Tesla – over-promising and under-delivering. News and industry talks hint that the management team is determined to make positive results in the third and fourth quarter by finishing 5,000 3s Models each week in a time frame of less than a month.
However, this scene when seen from a different angle gives other impressions. This reaction can be also seen as a stunt by Musk to raise more capital. This is because Tesla has both negative and positive feedbacks. It is seen as a small company which has bigger competitions and as a company which has a lot of potentials. Musk has publicly said that a sustainable profitability is very crucial to achieve Tesla’s goal of speeding up the world’s transition to clean energy.
The big picture
But when looking at Tesla’s plan everything looks clear. The production of Tesla Model Y is expected to start within twenty months. In addition to that, the plans for Roadster and an electric semi-truck are also laid out. Tesla has also a big plan to execute in China where there is a huge demand for electric vehicles. This could change the condition of the company altogether.
Elon Musk has made wonders and saved his companies before and everyone wants him to win because his aim is to make humanity better – comments Plush Casino which is one of the leading online casinos which offers various casino games. Play here to get an amazing casino gaming experience. Elon Musk has a great understanding of the market and a lot of analysts believe that there is a deeper plan for him to buy a huge number of stocks.