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Tesla Inc TSLA shares are trading higher in Thursday’s after-hours session following CEO Elon Musk’s statement that he would refrain from selling any Tesla stock in 2023. Musk also suggested that a buyback could be coming next year.
What To Know: During a Twitter Spaces talk centered around Tesla, Musk said he won’t sell any Tesla shares next year “under any circumstances.”
He also told listeners that Tesla’s board is open to a buyback, pending better visibility on the scale of a potential 2023 recession.
“If it looks like we are doing OK and the stock price is absurdly low, my vote would be to do a buyback,” Musk said.
In April, Musk said he was done selling Tesla shares to help finance his ongoing overhaul at Twitter. Since then, he has sold more than $20 billion worth of Tesla stock, including another 22 million shares last week.
Check This Out: What Else Is Impacting Tesla Stock?
TSLA Price Action: Tesla traded down to its lowest levels since 2020 on Thursday, according to Benzinga Pro
The stock was up 2.83% in after-hours at $125.35 following Musk’s comments on Twitter.
Photo: Courtesy of Tesla.
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Image and article originally from www.benzinga.com. Read the original article here.