Marked last year Tesla Inc TSLA worst stock performance since the IPO, with shares down over 60% in 2022. Investors could expect a rebound in 2023, and one shareholder recently put that thesis to the test.

What happened: Tesla’s shares have rallied into early 2023, helped by fourth-quarter sales and earnings per share and optimism for several future catalysts.

Tesla shareholder Jason DeBolt has had faith in Tesla for years and has accumulated enough shares retire from his main job as a software engineer in 2021 at the age of 39.

DeBolt said at the time he didn’t expect to sell Tesla stock “for the foreseeable future.”

With Tesla stock taking a hit, DeBolt decided to show his confidence in Tesla and the CEO Elon Musk Once again. DeBolt sold his home to fund the purchase of more stock.

DeBolt didn’t even wait for the sale of his home to close, instead opting to use his broker’s margin to buy more Tesla stock in the $128-$139 range before the company posted gains for the fourth quarter reported.

DeBolt bought 9,500 additional Tesla shares, increasing his total allotment to around 48,000 shares when combined with the shares he already owned.

As Tesla’s stock price has soared over the past week, the new investment in 9,500 shares has increased by around $400,000.

“I was primarily driven by the attractive Tesla share price. It was just too cheap to ignore,” DeBolt said Teslarati in an exclusive interview.

DeBolt said he was tempted to increase his holdings in the EV makers as Tesla’s shares fell about 75% from their all-time highs.

“During that time, Tesla grew sales by 51%, doubled its net income, rolled out FSD to tens of thousands of people, and began ramping up megapack production at Lathrop.”

Seeing an opportunity to dump Tesla stock cheaply, DeBolt turned to selling his home in what he called “the obvious answer” to get more cash.

DeBolt is now renting a beachfront home in Los Angeles, California.