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Tesla's stock immediately reacted positively to the news, climbing approximately 8% in pre-market trading to reach $426 per share. The sizable purchase was not conducted under a 10b5-1 trading plan—a pre-arranged plan that many executives use to sell shares in an organized manner—indicating that Musk made a conscious, direct decision to buy the shares. This purchase increased his stake in Tesla by about 0.62%, bringing his total ownership to roughly 12.8%.