Tesla investor calls for share buyback after Musk's Twitter deal hurts stocks
Leo KoGuan, a major individual investor in Tesla TSLA.O, on Thursday called on the electric carmaker to buy back shares, after $Tesla(TSLA.US$ took a hit from CEO Elon Musk's deal to buy Twitter.
The comments came as high-profile Tesla bull Daniel Ives, an analyst at Wedbush, on Thursday cut the target share price of Tesla due to China production disruption, and warned of "distraction risks" from Musk's Twitter TWTR.N deal.
$Tesla(TSLA.US$ shares lost one third of their value since Musk disclosed his stake in $Twitter (Delisted)(TWTR.US$ in early April and sold $8.5 billion worth of Tesla stocks in a move seen to help finance his $44-billion Twitter deal.
Further hurting stocks is China lockdown measures that dampened Tesla's production and an exclusion of Tesla from a widely-followed $S&P 500 Index(.SPX.US$ sustainability index.
The comments came as high-profile Tesla bull Daniel Ives, an analyst at Wedbush, on Thursday cut the target share price of Tesla due to China production disruption, and warned of "distraction risks" from Musk's Twitter TWTR.N deal.
$Tesla(TSLA.US$ shares lost one third of their value since Musk disclosed his stake in $Twitter (Delisted)(TWTR.US$ in early April and sold $8.5 billion worth of Tesla stocks in a move seen to help finance his $44-billion Twitter deal.
Further hurting stocks is China lockdown measures that dampened Tesla's production and an exclusion of Tesla from a widely-followed $S&P 500 Index(.SPX.US$ sustainability index.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
TradingRoulette : Tell him buyback not needed for this stock. Ask him to buy more stock using his own cash to become the 2nd biggest shareholder is better.
Silverbat : Could be true anytime
luosimao TradingRoulette : Don't you just want to use Twitter as an excuse to cash out your Tesla, Inc. stock? Buying Twitter is just a smoke bomb.
Brandony OP luosimao : i think so
Brandony OP Silverbat : right