Published On Dec 3, 2024, 7:42 AM
A Delaware judge has ruled against Elon Musk's massive pay package, which was initially approved by investors. The judge determined that the plan did not address issues regarding the influence of Musk on Tesla's board. Despite the ruling, Tesla plans to appeal, though the outcome remains uncertain. This decision comes as Tesla's stock experienced a slight decline in after-hours trading.
The uncertainty surrounding Musk's pay package is likely to create short-term volatility for Tesla's stock. Investors may react negatively to legal troubles and governance issues, especially regarding executive compensation. As a result, while Tesla remains a strong company, the immediate outlook appears negative due to this ruling and potential future legal challenges.
Dec 3, 2024, 6:56 AM
The focus is on JOLTS jobs data and Fedspeak to cement or dent growing hopes for interest-rate cuts.
Dec 2, 2024, 7:28 PM
(Bloomberg) -- SpaceX is in discussions to sell insider shares that could boost the value of Elon Musk’s rocket and satellite company to around $350 billion, according to people familiar with the matter. Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsAs Wars Rage, Cities Face a Dark New Era of Urban DestructionThat would be a significant premium to a previously mulled valuation of $255 billion as reported by Bloomberg News and other media outlets just last
Dec 2, 2024, 6:24 PM
The decision upholds a January ruling and comes despite support from shareholders and directors.