Why Tesla Stock Jumped Today
(NASDAQ: TSLA) stock is gaining in Thursday's daily trading session. The electric vehicle (EV) innovator's share price was up 3% as of 3:45 p.m. ET, according to data from S&P Global Market Intelligence.
Tesla stock is gaining ground following indications that CEO Elon Musk's latest compensation package is likely to be approved. After the market closed yesterday, Musk indicated that shareholders were poised to give the green light for a hotly contested pay package valued at roughly $56 billion. He also indicated that shareholders were voting in favor of moving the company's place of incorporation from Delaware to Texas. Wall Street is apparently feeling bullish about both news items.
In 2018, Tesla board members approved a performance-based compensation package that would potentially award Musk with as much as $56 billion worth of company stock. But a Delaware judge struck down the pay package this January on the grounds that the company's board had not shown that the compensation was fair or provided evidence that they had engaged in meaningful negotiations about the CEO's pay. Shareholders have been voting on whether to reauthorize the deal.
Source Fool.com
Tesla Inc Stock
Our community is currently high on Tesla Inc with 71 Buy predictions and 27 Sell predictions.
With a target price of 248 € there is a slightly positive potential of 7.34% for Tesla Inc compared to the current price of 231.05 €.
