comment: >
  
  Sorry for dumb question but... what does a stock buyback do that raises stock price?
  Is it they're saying they'll buy X amount. So that pushes price up even though they're losing a ton of money, thus creating a sort of false image of being more valuable than they are?
context: Their stock price jumped 20% after this buyback was announced. Meta laid off 11,000 employees in November and has hinted at more layoffs in the future.
  Just a reminder that stock buybacks were illegal until the 80’s under Reagan
  EDIT: for some quick math, if you include the $28 billion stock buyback Meta did in 2022, that means Meta spent roughly $6.2 million in stock buyback per employee laid off.