Tesla Should Boost Buybacks With Excess Cash, Says Gary Black: 'Valuation Is Why Tesla Remains Under Owned' - Tesla (NASDAQ:TSLA)

Future Fund LLC's managing director, Gary Black, thinks Tesla Inc. TSLA should use its excess cash to buy back the EV giant's shares from shareholders.Buy Back More Stocks Rather Than Build Excess CashTaking to the social media platform X on Friday, the investor said that Tesla needed to use the "$37 billion in excess cash" to purchase stock back, “rather than let it build up as more excess cash." He added that institutions would prefer Tesla to do the latter.Black also said that institutional investors und ...