Tesla's share price plummeted, and thousands of retail investors petitioned the board of directors to immediately launch a share buyback plan.

CTOnews.com November 22 news, Tesla's share price fell sharply, thousands of investors asked the company's board of directors to take the necessary measures to "stop the bleeding." And one of the "hemostatic" measures is that investors ask Tesla's board of directors to immediately launch a share buyback plan.

CTOnews.com learned that the share buyback plan includes buying its own shares at the market price. This usually indicates that the company believes that its shares are undervalued as a way to raise the share price by withdrawing some outstanding shares from the market.

Mr Musk said last month that Tesla's board was seriously considering a $5 billion-$10 billion buyback plan, but that the plan needed to be approved by the board.

Alexandra Merz, one of Tesla's investors, has launched a petition on Change.org, and a large number of Tesla retail investors have signed up on the petition website, asking Tesla's board of directors to implement a share buyback plan.