Tesla investors are begging CEO Elon Musk and the board of Tesla to consider buying back shares as the company’s stock price slumps to a two-year low. Tesla stock was trading at $183.20 after hours on Wednesday, and its market capitalization has plunged by almost $700 billion since its peak a year ago.
Musk said during Tesla’s Q3 earnings call that the company is likely to do a “meaningful buyback” next year, possibly between $5 billion and $10 billion. Last week, he said it would be “up to the Tesla board” to decide.
Buying back shares from the marketplace