Morgan Stanley analyst Adam Jonas conducted an investor survey over the week to conclude that more investors expect Tesla (NASDAQ:TSLA) CEO Elon Musk‘s 2018 pay package to be reinstated than not.
What Happened: 57% of the 109 respondents to the survey expect the package to be approved with a shareholder vote, outnumbering the 23% of respondents who expect non-approval by a two-to-one ratio, Jonas revealed in a note on Friday.
The Tesla bull expects the upcoming shareholder vote on Musk’s pay package to determine the long-term strategic direction of the company and drive material volatility in Tesla shares.
Most investors believe a non-approval of the pay package will drive down stock while approval drives it up. About 68% of the investors Jonas surveyed said that they expect Tesla’s stock price to react positively over three trading days if the package is approved. A small ...