Elon Musk Teases Massive Tesla Stock Buy As Cfo Cuts Forecasts For Annual Deliveries And Falling Inventory
Some investors in Tesla TSLA, +0.84% are scrambling to buy shares after multiple stock splits and the company losing more than a third of its market capitalization in 2022, and Musk said on an earnings conference call that Tesla’s board discussed a buyback at between $5 billion and $10 billion. “We discussed the buyback idea extensively at board level. The board generally thinks it makes sense to do a repurchase, we want to work through the right process to do a repurchase, but it’s a possibility for us to do a $5 repurchase [billion] to $10 billion even in a downside scenario next year, given that next year is very difficult,” he said, adding that it is “obviously pending board review and approval....