TSLA Jun 2024 495.000 put
- Yahoo Finance
What's next for Tesla's stock as shareholders and Wall Street pros weigh in
Elon Musk's pay deal — worth up to $56 billion -—has now been approved by Tesla shareholders. Yet investors and analysts Yahoo Finance spoke to are feeling mixed about the future of the electric car company.
- Yahoo Finance Video
EV competitors like Ford, GM are 'scared' of Tesla: Investor
Tesla (TSLA) shareholders approved CEO Elon Musk's controversial $56 billion compensation package, as well as other measures at Thursday's shareholder meeting. Financial analyst and YouTuber "Meet Kevin" Kevin Paffrath joins Market Domination to discuss the shareholder meeting and the future of the EV company under Musk's leadership. "The shareholder vote now behind us is great news. It's a big negative catalyst away for Tesla," Paffrath explains. He says that Musk's vision of full self-driving (FSD) is "probably going to be a lot safer for the entire world," as "we [go] toward an autonomous future." However, Paffrath doubts whether it will happen as quickly as Musk suggests. Regardless, Paffrath says he's bullish on the stock in the next two to four years as the company "still has probably the best moat in full self-driving that exists." Paffrath's Pricing Power ETF (PP) holds just 36,000 Tesla shares in its portfolio. Paffrath was in favor of Musk's pay package, stating, "the deal was made in 2018 and it was very public... Frankly, if that same deal was made today at those prices then, everybody would look at that as a shareholder and go — well, at least 70% like we had then — 'Of course, we're going to support if you can move the market capitalization of this stock essentially exponentially. Of course, we're going to support paying for you.' So receiving that and then being frustrated about Elon in the short term, I don't think is fair. I think it hits on an element of justice." He adds that after the company started offering consumers a lower monthly payment, he expects Tesla shares to skyrocket and "form a bottom here in delivery numbers." "So really, what Elon's doing here is he's creating a bottoming process in the actual manufacturing of electric vehicles. At the same time, he's rehired back the charging team, which is great, most of them, at least. And all of the other electric vehicle companies that I'm studying — Ford (F), GM (GM) — they're all scared," he explains. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Melanie Riehl Catch up on Yahoo Finance's coverage of all things Tesla, Elon Musk, and his pay package saga: 'Don't fire Steve Jobs': Tesla analysts react to approval of Elon Musk's pay package 'Hold on Tesla and wait,' don't buy right now: Strategist Tesla is in 'incredibly enviable' position for real-world AI Tesla is biggest market bubble in world history: Short seller Don't bet against Elon Musk: Dan Ives talks $1T Tesla call Elon Musk wins Tesla shareholder battle to keep his record-breaking pay Elon Musk has been integral to Tesla's growth, AI: Cathie Wood Musk's pay battle is not over. Here's why.
- Yahoo Finance Video
'Hold on Tesla and wait,' don't buy right now: Strategist
A Tesla (TSLA) shareholder vote approving CEO Elon Musk's enormous pay package has sparked renewed enthusiasm in the EV maker as it branches out from just an automotive company, branching out into AI, robotics, and energy. Summit Global Investments CIO Dave Harden calls Musk's compensation package "excessive" and is bearish on the stock at this time. "I wouldn't buy Tesla at this time. Elon Musk is an outspoken leader, and I think that there's going to be much more chatter and much more opportunity to get in when you can see clearly that the growth is going to happen. So the major growth is behind us. We know that, that's very clear, but I think you're going to hear more about that in the future," Harden tells Yahoo Finance, adding: "So if you're a managed risk investor I would probably hold off on this investment. If you're a growth investor, I would also probably hold on." Yahoo Finance spoke with analysts and Wall Street experts who are expressing renewed bullishness on Tesla stock, including Wedbush's Dan Ives — whose latest call sees Tesla's market cap reaching over $1 trillion in 2025 — and Ark Invest (ARKK) Founder, CEO, and CIO Cathie Wood, who believes the stock price could reach $2,600 by 2029. Also, Clean Energy Transition CEO and Portfolio Manager Per Lekander — a long-time short-seller of the stock — explained his latest price target on Tesla shares: $15. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Luke Carberry Mogan. Catch up on Yahoo Finance's coverage of all things Tesla, Elon Musk, and his pay package saga: Tesla is in 'incredibly enviable' position for real-world AI 'Don't fire Steve Jobs': Tesla analysts react to approval of Elon Musk's pay package Tesla is biggest market bubble in world history: Short seller Don't bet against Elon Musk: Dan Ives talks $1T Tesla call Elon Musk wins Tesla shareholder battle to keep his record-breaking pay Elon Musk has been integral to Tesla's growth, AI: Cathie Wood Musk's pay battle is not over. Here's why. Is Elon Musk the right fit as Tesla's CEO?
