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Tesla investor calls for $15 billion stock buyback after share price falls

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Tesla CEO Elon Musk is trying to buy Twitter and manage multiple companies at the same time.

James Glover II | Reuters

Billionaire Leo Koguan, who claims to be the third-largest individual shareholder of Tesla stock, is calling on the carmaker to announce a $15 billion stock buyback as the company’s share price continues to fall.

In a tweet to Martin Viecha, Tesla’s senior director of investor relations, Koguan said the company should immediately announce it plans to buy back $5 billion of Tesla shares this year and $10 billion next year. He added that Tesla should use its free cashflow to fund the buyback and that it shouldn’t affect its existing $18 billion cash reserves.

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Source cnbc.com

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