TSLA - Tesla Shareholders Approve Musk's Comp Ark's $2600 Target And I Am Buying

2024-06-17 10:01:33 ET

Summary

• Tesla, Inc. shareholders rallied around Elon Musk as his compensation package was approved by 77% of shareholders.
• Ark Invest predicts a $2,600 base case for Tesla shares in 2029, but the author is skeptical of their revenue projections.
• The author is bullish on Tesla's future, especially due to the potential of the Optimus platform and other revenue streams beyond Robotaxis.

It was a wild week for Tesla, Inc. ( TSLA ) shareholders. Ark Invest published its updated investment thesis on TSLA with an expected value of $2,600 per share in 2029, and TSLA shareholders rallied around Elon Musk as his compensation package passed as 77% of shareholders voted yes on their shares.

At the TSLA shareholder meeting , Elon addressed shareholders and discussed how full self-driving ("FSD") was improving exponentially, outlined how the Robotaxi network would work, and discussed how autonomy and Optimus could add $25 trillion of value to TSLA as a company. I am a recently reformed TSLA bear who just added to my position again on Friday, 6/14, after shares retraced below $180. The Optimus platform has made me a super bull as I believe it's going to become vastly larger than its entire automotive infrastructure even after FSD and Robotaxis are brought to market....

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