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Barchart
Barchart
Elizabeth H. Volk

Is Elon’s Insider Buying a Bullish Signal for Overbought Tesla Stock, or More Noise?

Elon Musk Tesla Inc. Barchart

Right on the heels of his newly secured compensation package - worth up to $1 trillion - Tesla (TSLA) CEO Elon Musk felt inspired to make his first purchase of company stock in about five years, according to an SEC filing. Musk bought 2.568 million shares of TSLA on Friday, Sept. 12, at prices ranging between $371.38 to $396.54 for a total spend of about $1 billion.

Notably, shareholders still need to vote on the new pay plan for Musk, which could raise questions around the motivations behind this TSLA stock purchase - the CEO’s first insider buy since February 2020, according to public records. In this analysis, Barchart contributor Jim Osman explains how investors can find the highest-conviction insider buying signals.

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