Tesla Bull Gary Black Says 'Likely' Approval Of Elon Musk's $56B Pay Package Is 'Next Major Catalyst' For The Company
Portfolio Pulse from Anan Ashraf
Gary Black, Managing Partner at Future Fund, expects Tesla's CEO Elon Musk's $56 billion 2018 compensation package to be reinstated by shareholders in the upcoming annual meeting on June 13, 2024. This is seen as a major positive for Tesla, potentially eliminating the risk of Musk leaving the company. Despite Tesla's advancements in autonomous driving, earnings estimates are low due to price cuts and falling delivery estimates. Morgan Stanley analyst Adam Jonas also anticipates significant stock volatility around the meeting.
May 18, 2024 | 8:04 am
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Gary Black expects Elon Musk's $56 billion 2018 compensation package to be reinstated by shareholders in the upcoming annual meeting, which is seen as a major positive for Tesla. This could eliminate the risk of Musk leaving the company, despite current low earnings estimates due to price cuts and falling delivery estimates.
The reinstatement of Musk's compensation package is seen as a major positive for Tesla, potentially eliminating the risk of Musk leaving the company. This could boost investor confidence and positively impact the stock price in the short term, despite current low earnings estimates.
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