Jun 17, 2024
Hot Stocks 🔥

Tesla Shareholders’ Vote Of Confidence In Musk | Nemo

Name of opportunity: 👀

Tesla, Inc

The news: 📰

At the Tesla Annual Stockholder Meeting on 13 June, investors in the company voted to restore CEO Elon Musk’s 2018 pay package valued at around US$56 billion. It was rejected by a Delaware judge last year, who said investors had not been fully informed before they voted and that due process had not been followed. The fact that shareholders have voted to approve the pay package is a vote of confidence in Musk and his leadership of the company. 

At the meeting, Musk also shared updates about future plans for the company, including more information about self-driving Teslas. Tesla has been talking about autonomous vehicles for some time, but now more information has been revealed. These ‘Cybercabs’ will be purpose-built vehicles that are fully autonomous, not intended for human drivers, with no steering wheel.  

How hot is this investment opportunity? 🔥🔥

Investors have responded to the stockholder meeting by buying Tesla stock, which has risen in value by 6.25% this week at the time of writing. However, the overall analyst recommendation for Tesla is to ‘Hold’. Tesla’s stock is down by 26.17% over the past 6 months and opinion is divided between analysts whether this downward trend will continue. Tesla is also well known to be a volatile stock, and it's listed in our 'High Volatility Stocks' neme - while it has gone up in value this week, this may not last.

ARK Investment Management has been one of the loudest and most enthusiastic voices on the subject of Tesla’s future, with analysts predicting that robotaxis will make up 90% of the company’s value and earnings by 2029. ARK also predicted that Tesla’s stock will rise by 1,400% to US$2,600 per share by this point. On 8 August, Tesla will share further information about the Cybercabs at a launch event. Investors who are interested in potentially buying Tesla stock off the back of ARK’s bullish prediction for the company’s robotaxis might want to keep an eye out for more news in the months to come. Some analysts and tech experts are dubious about Cybercabs and believe they might not be road-safe for a long time yet.

Robotaxis: 🤖

Tesla designs, develops, manufactures, sells and leases fully electric vehicles, as well as energy generation and storage systems. Founded in 2003 by Martin Eberhard and Marc Tarpenning as Tesla Motors, the company has become one of the largest and most well known manufacturers of EVs. Tesla also owns 50,000+ ‘Supercharger’ electric vehicle charging stations around the world. However, if some analysts from ARK Investment Management are correct in their prediction, Tesla may change its focus in the next few years to concentrate on building a network of autonomous taxi cabs.

Which neme?: 🔍

‘Largest US Stocks’, ‘Top Stocks on X/Twitter’, ‘Electric Vehicles’, ‘Green Energy’, ‘Big Tech’, ‘Top Stocks For Beginners’, ‘High Volatility Stocks’, ‘Automotive’, ‘Battery Tech’. 

Download Nemo to check out Tesla’s stock - will it continue to rise in value? 

Han Tan

Han Tan is a seasoned financial journalist and news presenter renowned for his expertise in global markets. With a career highlighted by interviews with prominent figures and recognition from major media outlets like CNN and Reuters, he delivers insightful analysis on market news and macroeconomic trends to clients and international audiences. Han's sharp commentary on currencies, stocks, and commodities is familiar to viewers of Bloomberg TV Malaysia, BFM 89.9, and NTV7, cementing his sterling reputation in the industry.