Tesla stock surged 5% as CEO Elon Musk bought 2.6 million shares worth $1 billion, boosting investor confidence in the company’s robotaxi and humanoid robot ventures. Musk’s early political involvement hurt Tesla sales in Europe. China’s BYD poses a threat to Tesla’s market share, as US EV tax credits expire.

Tesla’s stock has fully recovered from a March low post-public fallout with Trump. Musk’s exit from politics and the launch of robotaxis have driven stock up over 70%. Tesla aims to generate 80% of its value from robots, with Optimus humanoids as the next growth driver.

Musk’s purchase of Tesla shares signals confidence in the company’s autonomous technologies. Wall Street has 27 Buy ratings on Tesla, with Morgan Stanley valuing humanoid robots potentially adding $100 per share. Musk believes robots will revolutionize everyday tasks, calling Optimus the “greatest product in the history of humanity.”

Read more at Yahoo Finance: Tesla stock surges, turning positive year to date as Elon Musk buys $1 billion in shares