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Elon Musk says decision on Tesla stock buybacks would depend on severity of a downturn

Elon Musk says Tesla Inc.’s decision on a share buyback could be influenced by the severity of any economic downturn.“Are we talking about a mild recession, a moderate recession, a severe recession? We don’t know yet,” Musk said Thursday on a Twitter Spaces call. In October, Musk said Tesla could pursue a share buyback of $5 billion to $10 billion
Financial Press

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Elon Musk says Tesla Inc.’s decision on a share buyback could be influenced by the severity of any economic downturn.

“Are we talking about a mild recession, a moderate recession, a severe recession? We don’t know yet,” Musk said Thursday on a Twitter Spaces call.

In October, Musk said Tesla could pursue a share buyback of $5 billion to $10 billion and said a meaningful buyback was likely. The company has discussed such a share repurchase at the board level, he said, but hasn’t signed off on it.

“The board is very open to doing a buyback,” Musk said in a live conversation broadcast on Twitter, though he added “it wouldn’t be smart to do a buyback and then discover the recession is worse than 2009.”

Some Tesla TSLA, -8.88%  retail investors have expressed frustration with the performance of the stock, down more than 60% this year, and called for a share repurchase.

An expanded version of this report appears on WSJ.com.

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