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Is a Tesla (TSLA) Stock Buyback Coming?

Source: Michael Vi / Shutterstock.com

Tesla (NASDAQ:TSLA) stock is in the news Tuesday as investors call on the company to announce a share buyback program.
This push comes as Tesla experiences what could be the worse year in the history o…

Source: Michael Vi / Shutterstock.com

Tesla (NASDAQ:TSLA) stock is in the news Tuesday as investors call on the company to announce a share buyback program.

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This push comes as Tesla experiences what could be the worse year in the history of the company. That includes shares falling with Elon Musk’s purchase of Twitter, as well as the electric vehicle (EV) company dealing with 19 recalls this year.

Musk, founder and CEO of the company, has suggested that a TSLA stock buyback could be on the way to boost investor confidence in the EV company. If that does happen, investors aren’t likely to see it until sometime next year.

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TSLA Shareholders Have Started a Petition

Alexandra Merz created a Change.org petition to urge Tesla for a share buyback. That petition is doing well with about 5,2000 signatures at the time of this writing. The petition is seeking that buyback by the end of the year.

Here’s a few of the reasons Merz argues for a TSLA stock buyback.

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  • “Benefit from a currently very unvalued stock price.”
  • “Show confidence in Tesla’s future results.”
  • “Act before the 1% tax on share buybacks becomes applicable on Jan 1, 2023.”
  • “Operate the buyback under current SEC rules, which will change reporting standards in the foreseeable future.”

TSLA stock is up slightly as of Tuesday afternoon.

Investors looking for more of the latest stock market news will want to keep reading!

InvestorPlace has all of the hottest stock market news traders need to know about on Tuesday! That includes what has shares of Chinese EV stocks falling, the latest on Luckin Coffee (OTCMKTS:LKNCY) stock, and more. You can catch up on all of this news at the following links!

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More Tuesday Stock Market News

  • Why Are Chinese EV Stocks NIO, LI, XPEV Down Today?
  • What Is Going on With Luckin Coffee (LKNCY) Stock Today?
  • ONCS Stock Alert: What to Know About OncoSec Medical as It Drops Today

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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