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Market Mover | Tesla Stock Slumps 3% as the Board ask Shareholders to Vote on Elon Musk's $56 Billion Compensation Package Again

Moomoo News ·  Apr 18 09:57  · Movers

April 18, 2024 - $Tesla (TSLA.US)$ shares dropped 3.52% to $149.972 in intraday trading on Thursday.

Tesla submitted proxy documents on Wednesday, stating that it will once again ask shareholders to vote on CEO Elon Musk's $56 billion compensation package. Additionally, Tesla announced that it will hold a vote on moving the company's registration from Delaware to Texas after CEO Elon Musk's compensation packkage was ruled illegal.

Ratings

  • Tesla price target lowered to $120 from $125 at Wells Fargo

  • Tesla price target lowered to $180 from $196 at Citi

  • Moreover, Jefferies analyst Philippe Houchois lowered his Tesla price target to 165 from 185

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