From Nasdaq:

The Delaware Chancery Court nullified Tesla CEO Elon Musk’s $56 billion compensation plan and the decision is causing debate among social-media users and analysts. Tesla bull Cathie Wood criticized the decision calling it an un-American assault on investor rights and insult to the board. She emphasized how Musk accomplished a “Herculean task” and changed many shareholders’ lives for the better.

Critics argue that the court ruling puts Tesla at a disadvantage. The company’s strategy to boost volume by reducing prices has negatively impacted margins and performance. Tesla’s stock price has been suffering and ended Friday’s session at $187.91, but the company is expected to contest the ruling and implement a new pay plan for Musk. Cathie Wood recently purchased more Tesla shares, indicating her confidence in the company’s recovery.



Read more: 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