Tesla's stock swings up after bitcoin purchase disclosure and China regulator summons report

Shares Tesla Inc. TSLA, +0.26% seesawed back into positive territory, and was last up 1.7% in premarket trading, after reports about being summoned by Chinese regulators and a disclosure that it bought $1.5 billion worth of bitcoin. The electric vehicle maker also said in its 1 0-K filing with the that it expects to start accepting bitcoin as a form of payment for products “in the near future,” subject to applicable laws. The purchase of bitcoin came after the company said it updated in January 2021 its investment policy to that it may invest a portion of its cash holdings…