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Musk Buys $24.9 Million in Tesla Stock

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Musk Buys $24.9 Million in Tesla Stock

Shares of Tesla (TSLA) are higher on Wednesday, as Chief Executive Elon Musk disclosed yet another major purchase of the company's stock for the second time in as many months. Musk bought 72,500 shares for an average price of $343.78, or $24.9 million. The purchases were made indirectly, via trust. Following the transaction, Musk now owns 33.7 million shares. The purchase follows on the heels of another big bet from Musk: On May 7 he bought 33,000 shares for $9.9 million. Today's purchase price is 15.2% higher than what he paid last month--an average of $298.50 a share. At today's stock price, the shares Musk purchased in May have gained just over $1.5 million in value. Before the two recent