Comment on Tesla Stock Is Plunging Again. It Could Drop for a Ninth Straight Week.
sensiblepuffin@lemmy.funami.tech 2 weeks agoThe entire stock market is likely overvalued by 25% or so. This is a regression to the mean, accelerated by the fact that Musk no longer seems to care whether Tesla is successful or not. Probably because he sucked out all the money via that incentive package the board approved a few months ago.
DragonTypeWyvern@midwest.social 2 weeks ago
The pay was in stock options. It essentially doubled his ownership of Tesla from 12% to 25% so he in fact cares a lot about the price.
The stockholders are definitely morons for agreeing to it. Pay the fashgeld and you never get rid of the fash.
sensiblepuffin@lemmy.funami.tech 2 weeks ago
I didn’t know that, thank you! Also apparently a judge has blocked the awarding of the package?
DragonTypeWyvern@midwest.social 2 weeks ago
Yes, we’ll see if it sticks. The prior argument was that Elon effectively controlled the board, and when he convinced the shareholders to vote in favor as well he lied/threatened them and invalidated it. This is just cynicism but I wouldn’t particularly expect that to stick, but who knows? Im
sensiblepuffin@lemmy.funami.tech 2 weeks ago
Maybe the judges will think of the poor shareholders for once