Tesla CEO Elon Musk's $56 billion pay package is in the balance as shareholders will decide whether it will be reinstated after a Delaware judge voided it earlier this year.
Tesla (TSLA) shares jumped Thursday after Chief Executive Officer (CEO) Elon Musk announced that indications are his controversial $55.8 billion pay package will be approved when the votes from today's shareholder meeting are tallied.
U.S. stocks were mixed, with the Dow Jones index falling around 200 points on Thursday.
Shares of Tesla rallied Thursday to their highest level since late April as the automaker's billionaire CEO Elon Musk said shareholders approved his controversial $50 billion compensation package, easing some investor concerns about the mercurial Musk leaving Tesla in the dust.
Tesla TSLA 3.98%increase; green up pointing triangle shareholders are set to decide Thursday whether to reinstate a pay package for Elon Musk that was thrown out by a judge. Musk said late Wednesday that so far, shareholders were approving the package by a wide margin.
Tesla (NASDAQ: TSLA ) CEO Elon Musk said his enormous stock grant has the votes to pass at today's shareholder meeting. In response, TSLA stock rose 6.5%.
A bullish analyst on Thursday lauded the shareholder verdict on Tesla, Inc. TSLA CEO Elon Musk's compensation package as a “pop the champagne moment” for the company and the billionaire.
Tesla Inc (NASDAQ: TSLA) is pushing to the upside this morning after shareholders voted in favour of a $56 billion pay package for chief executive Elon Musk. What Musk's pay package approval means for Tesla stock “Thanks for your support!
Futures trading suggests a mixed start on Thursday, with tech stocks potentially helping to weather profit-taking-induced weakness. Broadcom Inc. AVGO and Tesla, Inc. TSLA are likely to lead the tech charge, with the former reacting to earnings release and the latter to the likelihood of shareholders approving CEO Elon Musk's pay package.
Europe is cracking down on EVs coming from China, imposing new tariffs on imports. Tesla is reportedly lobbying for a lower rate of tariffs.
Tesla shareholders on Thursday will get to vote on whether they think CEO Elon Musk should receive the historic pay package he was granted in 2018. Regardless of how the vote goes, the matter will have to be resolved in the courts after a Delaware judge rescinded the plan in January.
Tesla Inc. TSLA, +3.88% is expecting to raise the price of its Model 3 vehicle in the European Union starting in July because of import duties to be levied by the trading bloc on cars made in China, the EV maker said on its website on Thursday, according to media reports. The message was posted on Tesla's website for countries, including Germany, France, Ireland, Belgium and Hungary, according to the reports.