'I used to curse, now I'm good at pleading.'
The average investor of the electric car giant of the United States (US), Tesla Inc appealed to Elon Musk to buy back the shares (share buyback) of the company.
It is understood that the voices of frustration were expressed in the Twitter Space session on Monday, after Tesla's shares fell to their lowest level in 2 years, with Musk being asked to take responsibility and save the company.
In response Musk said that any decision was up to Tesla's board members, and during last month's earnings meeting there was discussion of a possible buyback of $5 billion to $10 billion.
For context, Musk has divested about $36 billion of holdings so far this year with the latest of another $3.95 billion sold in the last 3 weeks.
The latest sell-off comes after he said Tesla's potential to be a far more valuable company than Apple and Saudi Aramco combined at last month's earnings call.
However, it turned out to be 'good news from the looks of it' when Musk himself has several times given up his stake in Tesla to finance the $44 billion acquisition of Twitter.
And Musk's 'biased' focus on Twitter over Tesla has further muddied the situation as the EV company's stock has plunged 50% this year while seemingly being ignored.
As a result, investors urged Tesla's board members and Musk himself to buy back the company's shares in an effort to increase the value of the company's equity price.
Please be informed that in the last 2 years Musk successfully brought in Tesla to join the S&P 500 index which in turn turned the company's retail investors into 'Tesla millionaires'.
As of this writing Tesla shares are trading up 7.82% at $183.20.
