Previous close | 39.75 |
Open | 38.56 |
Bid | 38.05 |
Ask | 40.30 |
Strike | 140.00 |
Expiry date | 2025-01-17 |
Day's range | 38.10 - 40.50 |
Contract range | N/A |
Volume | |
Open interest | 8.25k |
Shares of Tesla (TSLA) continue to slide as the company once again asked shareholders to approve CEO Elon Musk's $56 billion pay package that was originally struck down by a Delaware judge. The judge involved in the case called the pay package excessive and said the company's board failed to justify it. The compensation includes no salary or cash bonus but instead stock options that are issued based on performance threshold. Gerber Kawasaki CEO Ross Gerber joins Market Domination Overtime to discuss the situation with Tesla and Musk and why he is "grateful" to have sold the stock in recent months. Gerber gives his full thoughts over the company and the position he has taken: "We trimmed Tesla down to a reasonable position, about a 2% position in our firm and in my fund. I love the company. I want to make it clear, the products are amazing. It's a great company with great employees and I just think it's being mismanaged at this point. And it -- you know, I think their strategies are not working. So we've lowered our position, I hope I don't end up selling out of this position because I do think the long-term for Tesla could be amazing if it had the focus of a full-time CEO." For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Nicholas Jacobino
Shares of Tesla (TSLA) are under pressure ahead of the company's first-quarter earnings results expected out next week, as it contends with a slew of mounting challenges. Tesla is seeking shareholder approval for a $56 billion pay package for CEO Elon Musk, which was initially struck down by a Delaware Chancery Court judge in January. The EV company is now looking to move its incorporation from Delaware to Texas for this controversial compensation plan. Compounding these issues, analysts at Barclays have taken a bearish stance on Tesla's stock, warning that the company's upcoming earnings results could drive the share price even lower. The investment bank has dropped its price target on Tesla shares to $180, down from the previous $225. Additionally, Tesla is reportedly planning to lay off around 10% of its global workforce. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith
Tesla will lay off 285 employees in Buffalo, New York, as part of its plans to trim 10% of its global workforce, the electric-vehicle maker said in a legally mandated notice on Wednesday. Under pressure from falling sales and an intensifying price war for EVs, Tesla announced its latest round of jobs cuts on Monday in an internal memo that was seen by Reuters. The notice on Wednesday was issued under the Worker Adjustment and Retraining Notification (WARN) Act which requires employers to provide a 60-day notice before layoffs.