I would consider a share buyback to be additional stupidity on EM's part. It will not sell any additional Tesla, nor will it increase the profit per vehicle. Musk will have to accept that there will be no disruptive technological leaps for Tesla in the coming years and that the valuation will increasingly converge with the established manufacturers, who have caught up with Tesla by now. Therefore, a further decline in the share price seems very likely to me. Why should EM stop and finance this with share buybacks?
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