2022 was undoubtedly Tesla’s best 12 months ever financially and for vehicle deliveries, however it has not been for its stock (TSLA), and now investors are unhappy and telling the board about it.
In the event you were to only take a look at Tesla’s quarterly reports this 12 months, you’ll think that Tesla shareholders are having a terrific 12 months.
The automaker is delivering record earnings after record earnings, with deliveries going up and annualized production capability nearing two million vehicles per 12 months – greater than every other automakers in terms of all-electric vehicles.
It looks like Tesla’s vision is finally coming together.
Yet, you will have retail investors like Leo KoGuan, a billionaire who’s the third-largest Tesla shareholder, calling Tesla’s board of directors “missing in motion”:
We first reported on KoGuan last 12 months when he became the third largest individual shareholder in Tesla behind Elon Musk and Larry Ellison. In September, we were able to verify that he put more cash into Tesla (TSLA) than Elon Musk himself.
He, together with many other outstanding Tesla investors, is looking for Tesla’s board to initiate a share buyback program.
That’s because Tesla’s stock is down almost 50% for the reason that starting of the 12 months:
Now the broader market also had a foul 12 months, but Tesla is certainly having a worse go at it than its peers with the Nasdaq being down 29% over the identical period. Loads of the discrepancy has been attributed to CEO Elon Musk who sold tens of billions of dollars value of Tesla stock during the last 12 months.
Tesla talked a few potential $5 to $10 billion share buyback program back in October, but there was no official word on the plan since.
Now Tesla retail investors, including KoGuan, have been campaigning for Musk to comment on Twitter concerning the situation, however the CEO has remained silent.
As for KoGuan, he’s seemingly growing frustrated with the dearth of response:
However the third largest Tesla shareholder stays positive concerning the company long run as he states that he plans to speculate a further $2 billion into the automaker over the subsequent three years.
Within the meantime, the Tesla shorts, after years of getting burned, are finally making some a reimbursement.
S3 Partners, a firm tracking short interest, confirmed this week that Tesla shorts have made as much as $11.5 billion by betting against Tesla’s stock this 12 months.
But who’s going to have the last laugh? Do you’re thinking that a stock buyback program will likely be enough to stop the bleeding? Tell us within the comment section below.