Zorba
Lifer
- Oct 22, 1999
- 15,286
- 10,885
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This is a perfect example of why stock buy backs shouldn't be a thing. This has nothing to do with "Tesla" thinking the stock is under valued. It has to do with Elon, being the only vote that matters and Elon wanting to artificially pump up the price of his shares using Tesla's money. It is pure stock manipulation for the sole benefit of Elon.Something tells me Elon dont really understand that his tantrums has consequences...
Like burning your brand on the stake for the return value of nothing. Elon has officially positioned himself on #AntiAbortion and #TeamTreason - many times now.
Its not cool to own a Tesla anymore you dolt.
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Tesla is flirting with its first-ever share buyback - and it's a signal the company thinks its stock is undervalued
CEO Elon Musk told analysts late Wednesday that Tesla was considering a share buyback of $5 billion to $10 billion.markets.businessinsider.com
Not as obvious elsewhere, but it is the same thing everywhere. Buybacks directly benefit the top executives who are compensated with stock and are often judged based on stock price. No company buy back their shares when they are cheap and no company sells them when they are expensive, 2020 was a perfect example of that. All these companies that had squandered a decade of profits on buy backs, then sold shares at record lows to stay afloat.
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