Elon Musk expands Tesla stake after jumping on short sellers

Elon Musk did more than just talk smack to short sellers in tweets. On Monday, Musk, already the company’s largest shareholder, expanded his own stake in Tesla.

The chief executive officer of the electric auto maker TSLA, +2.95% bought about $9.85 million worth of Tesla shares, his biggest purchase since March 2017, according to a regulatory filing.

Musk has now grown his stake to near 20%, according to data compiled by Bloomberg.

Musk last week promised to “burn” those betting against the company, which hasn’t earned a yearly profit in its 15-year history and who analysts believe will continue to “bleed cash.

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