Musk's $56B pay package likely to win 'overwhelming' support, Wedbush says
) CEO Elon Musk's $56 billion pay package is likely to win"overwhelming" approval from shareholders at next week's annual meeting and could help lift one the overhangs on the stock, Wedbush said in a Thursday note.
As well as the pay package, plans to reincorporate Tesla out of Delaware and into Texas will also be up for a vote, which if approved. "We believe autonomous and FSD is key to Tesla's future and Musk needs to making this crystal clear at the shareholder meeting next week," Wedbush says, while flagging the importance of the launching a lower cost vehicle.
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