Tesla stock adds to rally as Elon Musk defends ‘funding secured’ tweets

Tesla Inc.
TSLA,
+6.39%
stock added to a rally Monday as Chief Executive Elon Musk took the witness stand in a federal trial in San Francisco revolving around his “funding secured” tweets in 2018. The stock gained more than 6% in midday trading as Musk in court says that he believed he had an agreement with Saudi Arabia’s investment fund that would be more than sufficient to take the EV maker private. Musk testified briefly on Friday, but court adjourned. The trial is expected to go into February.