Meanwhile, Musk said last month on Tesla’s third-quarter earnings call that the company was working on a potential share buyback.
He told analysts that “we’ll do some meaningful buyback. Even if next year is a very difficult year, we still have the ability to do a $5 billion to $10 billion buyback.”
If Tesla chooses to purchase stock on the higher end of Musk’s estimate, that will equate to over 46 million shares of stock.
