08:51 AM EDT, 09/23/2025 (MT Newswires) -- Tesla (TSLA) was Smart Insider's stock pick of the week after the EV maker's Chief Executive Elon Musk purchased $1 billion worth of company shares at $389.28 apiece on Sept. 12, raising his ownership by 1%.

Musk's record as a buyer is "excellent," Smart Insider said in a Tuesday note, adding that he previously bought shares in six open market purchases and five purchases on subscriptions.

The latest is "an interesting purchase" that coincides with a pending contract negotiation with the Tesla board, and there may be various reasons "beyond simply optimism about the stock price," the note added.

Smart Insider ranked the stock +1, or strong positive signal, on Sept. 15.