This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
Insider buying is often touted as a high-quality indication of the confidence that managers retain in their company, with the ensuing favorable optics elicited from the very act of staking one's personal wealth on the success of the enterprise. Now, after a 5-year drought, Tesla can again boast of the insider buying activity in its shares.
BREAKING: Tesla board member Joe Gebbia (co-founder of Airbnb) has purchased $1.02 million of $TSLA stock, the first time an insider has purchased Tesla stock in ~5 years. pic.twitter.com/nkJWaOgVM6
— Sawyer Merritt (@SawyerMerritt) April 28, 2025
To wit, Joe Gebbia, who is the co-founder of Airbnb and a current Tesla board member, has just disclosed his purchase of $1.02 million worth of Tesla stock. Gebbia acquired 4,000 shares in Elon Musk's enterprise at an average price of $256.30. For reference, the stock is currently trading at the $286 price level.
Joe rocks
— Elon Musk (@elonmusk) April 28, 2025
Of course, Elon Musk himself took to X to praise Gebbia's endorsement of Tesla, declaring unequivocally that "Joe rocks."
Meanwhile, Tesla and other US automakers are about to receive a substantial tariff reprieve from the Trump administration today. As per the details available, automakers will be exempt from the separate levy on steel and aluminum. While the 25 percent import levy on cars and auto parts will continue, automakers will get reimbursements of up to 3.75 percent of the total value of a US-made car for a period of 1 year, with this incentive dropping to 2.5 percent of the total value in the second year before getting phased out entirely in the third year.
Coming back, Tesla has been on a tear ever since it announced its Q1 earnings last week. While the EV giant failed to meet Wall Street's consensus expectations and refused to project when it would return to volume growth, the company reiterated that the Unsupervised FSD will launch in June 2025, the much-anticipated cheaper models in H1 2025, and the Cybercab in 2026. Elon Musk also indicated that he would start prioritizing Tesla over DOGE come May 2025.
For investors heading into the earnings call with depressed expectations, Tesla's reiteration of the launch timelines for its pipeline products was sufficient inducement for unleashing animal spirits. As an illustration, the stock is up 23 percent over the past 5 trading days alone.
About the author: Writing is my one incontrovertible passion. Over the past six years, he has authored over 2,200 distinct articles on financial and tech-related topics, spanning nearly 1 million words. And he has been a member of Wcctech mobile team since 2025. As an alumnus of the University of Toronto, Rotman Commerce Program, I bring nuance, in-depth knowledge, and a unique perspective to every topic that I cover. When I'm not writing, I'm traveling the world, exploring hidden confectionaries and restaurants as an aspiring food connoisseur.
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