Every third interview Elon does he mentions the PTSD from 2008-2009 Great Recession that almost brought down Tesla and SpaceX. We are entering another recession so of course he will be overly cautious with buybacks.We are at 2+ year lows. If you bought any TSLA since Nov of 2020 it's now underwater.
I buy the idea that earnings, sales, units produced will grow exponentially as uberbulls point out on 15 pages of TMC everyday. I also have no idea how many 60-80K cars people will buy when we enter a deep recession as Elon and Kathy predict. Yes, long term everything will probably be rosy but the next 18 months I am not so sure. People will stop spending on things that are considered luxury and postponable. At that time we may not see margins on the same level as the were. After all this in the first recession in 14 years. (Fed printed so much liquidity during covid that it doesn't qualify as recession. Luxury goods were bought like pancakes)