Tesla (TSLA) just saw the largest insider buy in its history — and it came from none other than Elon Musk himself. The Tesla CEO purchased 2.5 million shares on Sept. 12, worth just under $1 billion. While that only increased his total TSLA holdings by about 0.5%, it sent waves through the market.
As John Rowland, CMT, noted during last Friday’s Market on Close livestream, “There are a lot of reasons insiders sell, but only one reason they buy — because they’re bullish.”
