Cathie Wood Blasts Delaware Court's Move To Rescind Elon Musk's $56B Tesla Pay As 'Un-American,' Tells How Billionaire 'Shocked And Delighted' Shareholders
Portfolio Pulse from Shanthi Rexaline
Cathie Wood criticized the Delaware Chancery Court's decision to nullify Elon Musk's $56 billion compensation plan from 2018 as 'un-American.' She defended Tesla and Musk's achievements, highlighting the company's success and Musk's role in exceeding Ark's bull-case price target for Tesla shares ahead of schedule. Wood also emphasized the positive impact of Tesla's performance on shareholders. The court's decision comes at a challenging time for Tesla, facing demand slowdown and margin erosion.
February 05, 2024 | 8:23 am
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The Delaware Chancery Court's decision to nullify Elon Musk's $56 billion compensation plan has been criticized by Cathie Wood as 'un-American.' This legal challenge comes at a time when Tesla is facing a slowdown in demand and margin erosion, impacting its bottom line.
The court's decision to nullify Elon Musk's compensation plan adds legal uncertainty to Tesla, potentially affecting investor sentiment negatively. Coupled with existing challenges such as demand slowdown and margin erosion, this development could further pressure Tesla's stock in the short term.
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