Tesla whale calls for $15 billion stock buyback after share price craters

$Tesla (TSLA.US)$ $Twitter (Delisted) (TWTR.US)$ In a tweet to Martin Viecha, Tesla’s senior director of investor relations, Tesla bull Leo Koguan said the company should immediately announce that it plans to buy back $5 billion of Tesla shares this year and $10 billion next year.

Tesla shares closed down more than 6% on Wednesday amid a broad market sell-off. The company’s stock has fallen n more than 30% this year.

A stock buyback, when a public company uses cash to buy shares of its own on the open market, is a method that firms use to try to return capital to shareholders.