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Source: Common Domain

Larry Ellison’s Big Tesla Stake Is Mostly Old News


News of a 3 million-share stake in Tesla (TSLA) by its recently appointed director Larry Ellison may have moved the auto maker’s stock in Tuesday morning trading, but it was mostly old news—and, sure enough, the pop didn’t last.

A Tesla spokesman said Ellison’s stake was purchased on the open market and without solicitation by Elon Musk or anyone else at Tesla. Representatives for Oracle (ORCL), which Ellison co-founded, declined to comment when asked for more details about Ellison’s stake.

“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte