Elon Musk bought $100 million more worth of Tesla this week

Tesla announced this afternoon that CEO and co-founder Elon Musk exercised 532,000 options of the company this week, increasing his holding by about $ 100 million worth of market value. The transaction was very much “in the money,” as they say: the options were exercised at $ 6.63 apiece, according to an SEC filing, while Tesla stock is trading around $ 192 as of market close on Friday — so that works out to a profit of around $ 185 a share. Musk used “more than $ 50 million” in cash to cover the exercise price and the associated taxes, according to the announcement.

This isn’t the kind of thing you necessarily announce with a press blast unless you want to boost confidence in the company, and Tesla can always use a boost: Model X production…

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