Insiders are taking full advantage of their down, but not out stocks.
Look at Tesla (SYM: TSLA), for example.
For one, Tesla director Joe Gebbia paid just over $1 million for 4,000 shares of Tesla. He paid an average price of. $256.31 per share. Before this transaction, insiders last bought shares of Tesla in February 2020. However, that’s not it’s only near-term catalyst.
Elon Musk just said his time at DOGE will drop significantly, he said, adding, “Starting early next month, in May, my time allocation to DOGE [Department of Government Efficiency] will drop significantly.”
And, as noted by the BBC, “Tesla CEO Elon Musk has said he will step back from his role with the Trump administration’s cost-cutting team known as Doge. Those at the White House, including the president, have said it has long been the plan that Musk would soon step away, but the news came as the billionaire’s car business saw earnings plunge.”
Plus, analysts at Wedbush just raised its price target on TSLA to $350 with an outperform rating, citing Musk’s recommitment to Tesla.
Sincerely,
Ian Cooper
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