Elon Musk, the CEO and founder of Tesla (TSLA), intends to buy Tesla stocks worth $20 million. Currently, the share of Tesla CEO is 20%. It is worth mentioning that the agreement on the purchase of Tesla stocks has already been coordinated with the U.S. Securities and Exchange Commission (SEC).

Most likely, Musk will make a deal in the nearest special window that allows investors and top managers to buy stocks of companies. Let us note that this window exists to restrict transactions using internal corporate information.

From the moment investors became aware of the transaction, the Tesla stock chart edged down, falling by more than 10%, which was also preceded by the largest collapse in the technology sector over the last 8 years. Today, you can buy Tesla stocks at a price of $263.00 per unit.

On October 16, the New York court gave the green light to the agreement between Elon and the SEC. Under the agreement, the businessman and the company undertake to pay a $20 million fine. At the same time, Musk will not be able to head the board of directors during the next 3 years, retaining the post of the CEO. What is interesting is that the founder of Tesla, among other things, will lose the right to speak publicly on behalf of the company without preliminary coordination with the board of directors.

Tesla stock quotes have been in the positive territory for almost the whole year. Now, amid the recent events related to the company and the overall situation in the high-tech sector, the Tesla stock chart indicates a sharp decline.

The general public is aware of Elon's intention to become the holder of a greater stake in the company or its sole owner in order to limit the share available for purchase by investors. All this indicates that recent events are a great reason for traders to buy Tesla stocks.