https://www.teslarati.com/tesla-investors-4-1-billion-speaks-out-support-of-elon-musk/ TESLARATI Over 5.8k Tesla investors representing $4.1 billion are speaking out in support of Elon Musk By Simon Alvarez Posted on February 5, 2024 Thousands of retail Tesla (NASDAQ:TSLA) investors have banded together to express their support of CEO Elon Musk’s and his 2018 compensation plan, which was rescinded by a Delaware judge last week. The judge’s decision, which concluded a legal complaint started by a thrash metal drummer with nine Tesla shares, was met with polarizing reactions. The Tesla investors’ goal was simple. They wanted to specifically affirm their vote of support for Musk’s 2018 compensation plan, whose targets have already been met, and they also requested that the Tesla Board of Directors design a new compensation plan for Musk that could take him back to 25% of the EV maker’s voting shares. The group also expressed their support to the idea of Tesla moving its state of incorporation from Delaware to Texas. The initiative was admirable. What started as a collaborative effort on social media led by accounts such as Alexandra Merz (@TeslaBoomerMama) and Amy Steffens (@_sftahoe) ballooned to 5,821 Tesla shareholders representing 23,337,127 shares signing a letter addressed to the Tesla Board of Directors in just four days. The Tesla investors’ accumulated shares are substantial, as it corresponds to over $4 billion worth of shares as of Monday’s intraday. The Tesla shareholders’ letter can be viewed below. Shareholder Letter to Tesla’s Board of Directors The shareholders (listed in the attachment) Support unequivocally that Tesla’s state of incorporation is changed from Delaware to Texas, where Tesla is already headquartered. Tesla staying incorporated in Delaware is untenable if Shareholder Votes will be rescinded. Would like the Board to explore options to affirm the shareholder vote in support of keeping the Tesla’s 2018 CEO Compensation Plan active and in place. Tesla shareholders don’t want their votes disenfranchised. Tesla shareholders elected the Tesla Board of Directors and were aware of the Board members’ relationship with Elon Musk. The shareholders chose them. The recent decision by Judge McCormick to rescind the 2018 CEO compensation plan is a dangerous precedent for all shareholders in American corporations. Would like the Board to design a new CEO Compensation Plan along the lines of the 2018 Plan. The new Plan tranches will require Tesla to achieve ambitious performance and market cap milestones. The performance milestones could include FSD reaching level 5 autonomy, Tesla Energy achieving annual kWh goals, the next generation EV platform reaching volume production, and Optimus in volume production. The market capitalization milestones could reflect each $500 billion- or $1 trillion-dollar increase in Tesla’s overall value, or whatever intermediate milestones make sense, as well as one for surpassing the combined value of Saudi Aramco and Apple. The new Plan’s tranches will vest shares to Mr. Musk in such a way as to ultimately grant him 25+ percent of voting shares. If Tesla incorporates in a State allowing super voting shares, we endorse this, too. The shareholders filling out this form agree that their name and details will be disclosed to the Board of Directors of Tesla and may become public. What is quite remarkable about the Tesla investors’ efforts is the fact that it included shareholders from across the spectrum. As per the group’s letter, the 5,821 Tesla shareholders comprise investors that hold anywhere from one TSLA share to thousands of TSLA shares. They also include investors who have been with the EV maker since 2010 and those who only bought shares last month. Overall, the retail investors’ efforts are quite admirable, and they show that Tesla still has a dedicated following among its shareholders until today. Copyright © TESLARATI. All rights reserved.
FanBois' grab yer pitchforks. lol "The initiative was admirable." " ..........5,821 Tesla shareholders representing 23,337,127 shares....... " 133,798,212 shares were traded yesterday so simple math sez above group represents 5.733% of a typical day's trading activity.
https://www.thecooldown.com/green-business/tesla-model-3-range-test-winter/ TOP EV MODELS GO HEAD-TO-HEAD IN ULTIMATE RANGE TEST WITH FRIGID TEMPERATURES — SEE HOW TESLA STACKED UP AGAINST THE COMPETITION “Some of the cars were still able to assess the battery’s sufficiency really well, and some stopped unexpectedly.” By Wes StenzelFebruary 6, 2024
Not sure what are saying? But Nasdaq shows short interest on Jan 12th (latest reading) is 80,466,304 shares. Which is the lowest in almost a year. Traders look at short interest as possible fuel to a new bull run and like to see that number rising. It isn't, at least up to Jan 12th. Today was good PA for bulls, but one day does not make a trend.
Then I also "left out" TSLA's market cap is $589.5 Billion so $4 billion is what percent of that? Hmmmm.
Hertz went all in on Tesla — and is paying the price https://finance.yahoo.com/news/hert...ying-the-price-195844835.html?.tsrc=fin-notif Of course everyone knows about this by now. Nothing new. But take note of the last sentence and reflect on the experience with Hertz. Naturally there will be more adoption, more charging stations, improved vehicles in the future of all EV manufacturers that make the cut. But Tesla no longer has the playing field mostly to themselves, so growth will be there just not at the rate it previously was. I know that is hard for some to accept.
I believe the decision to repeatedly cut prices is primarily Elon Musk's and as a result the CFO walked out. We've argued over the value of such pricing decision, volume for margins, but there are other unintended consequences like Hertz and very recently another rental outfit in Europe. All decisions have consequences, intended or not, positive or not. We are made aware of fleet buyers fed up with being squeezed out of resale value, which must have a major impact on their profits. I hope and expect Musk was aware of the possible repercussion. Perhaps he believes that lowering prices keeps the real competitors, from China and Korea, on the ropes and forced to also innovate enough to challenge Tesla while wiping out western manufacturers. Or, he may have realized that more Tesla vehicles on the road means increased AI data, the key to dematerialized, high margin solutions offering. Amazon makes its money selling cloud solutions, not sophisticated logistics. Maybe Tesla will some day give away free cars in exchange for data control, like Google. Let's not miss the forest for the trees. Musk is surrounded by very smart people.
I don't fault Musk, at all, for dropping prices to protect market share. That is what any smart, and even some not so smart, CEO would do. My point and btw Wall Street's too is retail prices declining lead to declining margins which in turn leads to a declining stock price. You didn't believe this to be the case. The current stock chart doesn't lie. PE is still inflated so likely price needs to go lower. I have no crystal ball and maybe wrong about this. But it seems logical, so if I planned to become a buyer (I don't, way too much flux in EV's currently) I would be waiting for a much more attractive price.