From Nasdaq: 2024-05-21 02:12:09

Shareholders at Tesla are challenging CEO Elon Musk’s $46 billion pay package, opposing the re-election of directors Kimbal Musk and James Murdoch. Key shareholders include Amalgamated Bank, Danish pension fund AkademikerPension, and New York City Comptroller Brad Lander. The proposals will be voted on at the upcoming annual meeting on June 13.

Concerns arise over Musk’s compensation amid falling profit margins, slowing vehicle sales, and ongoing legal troubles. Shareholders demand a full-time CEO focused on Tesla’s success. Analysts maintain a Hold rating on TSLA stock, with an average price target of $174.60, reflecting a 0.2% downside from current levels and a 30% decline year-to-date.

Investors looking at TSLA stock could follow analyst Ben Kallo of Robert W. Baird, known for his success in covering the stock with an average return of 18.94% per rating and a 56% success rate. The expert opinion offers valuable insight for decision-making.



Read more at Nasdaq: Tesla Stock: Tensions Brew Over Musk’s Compensation