TSLA - Tesla: Back In The Game With Musk Re-Engaged
2024-06-16 10:00:00 ET
Summary
- CEO Elon Musk got his 2018 pay package re-approved after a Delaware court blocked the $56 billion pay package, contributing to the stock weakness.
- Musk shifting focus to AI investments away from Tesla caused concern among investors.
- ARK Invest is bullish on Tesla, raising the price target to $2,600 by 2029 based on the robotaxi opportunity, though a more logical goal is $500+.
- TSLA stock isn't cheap based on normal financial measures, but the company has multiple shots at trillion-dollar businesses to warrant the risk of overpaying here.
Tesla Inc. ( TSLA ) had a rough year in part due to the shareholder battle with their CEO over his previously approved pay package. Whether fair or not, Elon Musk appeared less engaged with Tesla following the Delaware court disallowing a previous pay award based on performance of the stock. My investment thesis is more Bullish on the stock trading at multi-year lows with Musk now fully enthused to focus on Tesla and the upcoming opportunity in robotaxis....
Tesla: Back In The Game With Musk Re-Engaged