Bigger than SpaceX, Tesla, xAI combined?! 
Netflix, Pulte, and Mobileye Are Buying Their Own Dips—Should You?Written by Leo Miller on May 4, 2026 
Key Points
- Netflix is down more than 30% from its highs, and is likely looking to take advantage of this through its new $25 billion buyback plan.
- Pulte Group stepped up its buyback spending last quarter and has increased its repurchase firepower.
- Autonomous driving stock Mobileye has taken a huge hit and just announced a $250 million buyback plan.
- Special Report: The real SpaceX trade isn't SpaceX
Struggling stocks are signaling confidence ahead, recently announcing substantial share buyback authorizations. These names are looking to buy shares at what they likely view as depressed prices, providing positive signals to investors going forward.
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Netflix’s Buyback Capacity Hits 8% of Market CapitalizationFirst up is streaming giant Netflix (NASDAQ: NFLX). Netflix shares have seen considerable volatility over the recent past. The stock took big hits after Netflix announced its intention to acquire Warner Bros. Discovery (NASDAQ: WBD). After the deal fell through, Netflix shares managed to rebound above pre-merger announcement levels. However, the stock tanked again after Netflix released its latest earnings report, with the company providing underwhelming guidance. Now, it looks as though Netflix is trying to pick up some of the slack in its stock price. Around a week after reporting earnings, Netflix authorized a $25 billion share repurchase plan. This adds to the company’s $6.8 billion in remaining buyback capacity held under its December 2024 repurchase authorization. In total, Netflix’s buyback capacity now sits near $31.8 billion. This is very substantial, equal to around 8% of the firm’s approximately $390 billion market capitalization. Notably, Netflix did not provide a specific reason for its buyback capacity increase, and the program does not have an expiration date. However, given the size of the program, it is likely that Netflix sees value in its falling share price. Currently, Netflix is down just over 30% from its 52-week high. Pulte Signals High Buyback Spending to ContinuePulteGroup (NYSE: PHM) is another large consumer discretionary name, being one of the top homebuilders in the United States. Pulte shares have been largely stagnant in 2026, providing a slight year-to-date (YTD) loss. Homebuilders have been in a difficult position, with sales and earnings falling considerably. Still, Pulte avoided a sell-off following its latest report, rising 2.4% afterward. This came despite sales falling 12% year-over-year (YOY) and adjusted earnings per share falling 30% YOY, showing that the market has priced in very low expectations. Alongside its earnings, Pulte announced a $1.5 billion increase to its buyback authorization, bringing its total buyback capacity to $2.1 billion. This is equal to over 9% of the firm’s approximately $23 billion market capitalization, giving it a significant ability to continue lowering its outstanding share count. Since 2013, Pulte has spent billions on buybacks and cut its outstanding share count in half. The firm’s buyback spending last quarter was $345 million. This was a notable 15% increase over the prior quarter and good for Pulte’s second-highest quarterly buyback spending ever. The company’s new authorization indicates that its buybacks could continue at this strong pace over the coming quarters.
In nearly every major IPO, roughly 95% of the gains are captured before retail investors can place a trade. It happened with Facebook, Uber, and Airbnb - hedge funds and underwriting banks buy in cheap, then help set the public opening price.
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Mobileye Announces $250 Million Buyback With Shares Down BigLast up is Mobileye Global (NASDAQ: MBLY). The company provides advanced driver assistance systems (ADAS) and autonomous driving technologies. As an automobile components company, Mobileye sits within the broader consumer discretionary sector. Mobileye shares have faced serious pressure lately, down over 15% in 2026 and more than 40% in the last 12 months. Mobileye has seen very inconsistent sales growth over this period. The firm has recorded YOY sales shifts as high as 83% and as low as -9% during the past five quarters. This has contributed to significant margin volatility, with adjusted operating margins fluctuating between 21% and 9%. However, Mobileye's expected eight-year automotive revenue pipeline ended 2025 at $24.5 billion. This compares to its last 12 months' revenue of $2.01 billion, signaling a significant opportunity ahead. Mobileye has also announced a $250 million share buyback program, which is equal to over 3% of its approximately $7.4 billion market capitalization. The firm intends to use the authorization to partially reduce dilution from its recent acquisition of Mentee Robotics. However, the company also said it sees “an opportunity” to address this dilution at “significantly more attractive prices than those embedded at closing." Overall, the company likely sees a level of value in its share price, even though the buyback decision relates directly to the Mentee deal. Analysts Eye Gains Ahead for Netflix, Pulte, and MobileyeWhile buyback authorizations do not necessarily mean these names are due for a rebound, they are important indicators worth paying attention to. Looking ahead, MarketBeat consensus price targets imply over 20% upside in NFLX, over 20% upside in PHM, and over 60% upside in MBLY. Read this article online › Recommended Stories
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