Elon Musk Isn't Impressed By Lucid's Approval Of $6M Cash Bonus For Its CEO: 'His Comp Is Inversely Proportionate To Performance'
Portfolio Pulse from Anan Ashraf
Lucid Group Inc (NASDAQ:LCID) announced a $6 million cash bonus for CEO Peter Rawlinson, recognized for his contributions to the Lucid Gravity SUV unveiling. Elon Musk criticized the bonus on X, suggesting it's inversely proportional to performance. Lucid's stock has fallen 65.9% over the past year, despite a recent 5.2% increase.
February 16, 2024 | 2:47 am
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NEUTRAL IMPACT
Elon Musk, CEO of Tesla, criticized Lucid's CEO bonus, suggesting it's inversely proportional to performance.
While Elon Musk's criticism of Lucid's CEO bonus brings attention to Tesla, it's unlikely to have a direct short-term impact on Tesla's stock price. However, it could influence public perception.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Lucid Group Inc awarded its CEO a $6 million bonus for the Lucid Gravity SUV unveiling, amid a 65.9% stock price drop over the past year.
The significant bonus awarded to Lucid's CEO despite the company's stock price decline over the past year could lead to negative investor sentiment and further pressure on the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90