Últimas noticias sobre Tesla (NASDAQ:TSLA) Bolsa

Tesla

Tesla is a vertically integrated battery electric vehicle automaker and developer of autonomous driving software. The company has multiple vehicles in its fleet, which include luxury and midsize sedans, crossover SUVs, a light truck, and a semi truck. Tesla also plans to begin selling more affordable vehicles, a sports car, and a robotaxi. Global deliveries in 2023 were a little over 1.8 million vehicles. The company sells batteries for stationary storage for residential and commercial properties including utilities and solar panels and solar roofs for energy generation. Tesla also owns a fast-charging network.

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Las acciones de Super Micro Computer (SMCI) caen un 65% desde su máximo. Descubre el análisis técnico y los riesgos del auge de la IA.

Super Micro Computer (SMCI) lucha contra la volatilidad de la inteligencia artificial

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Tesla registra 16.200 vehículos asegurados en China, apuntando a un trimestre récord. Las acciones suben un 1,28% en la preapertura.

Las acciones de Tesla (TSLA) suben rápidamente en el premercado

Musk extiende su influencia en Latinoamérica a través de Starlink y Tesla, mientras enfrenta desafíos políticos y económicos en la región.

Elon Musk y sus movimientos estratégicos en Latinoamérica: Starlink, Tesla y más

Tesla Inc

Credo Technology Group Holding Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRDO#NASDAQ">CRDO</a>) shares jumped <a href="https://www.benzinga.com/quote/CRDO">almost 40% in early trading on Tuesday</a>.
The visibility into the company's growth inflection in the back half of the year improved significantly, according to BofA Securities.
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58a5e02943eaaa00018d9399/vivek-arya">Analyst Vivek Arya</a> upgraded the rating for Credo Technology from Underperform to Buy while raising the price target from $27 to $80.
The Credo Technology Thesis: The company delivered a "solid beat and material raise" quarter, Arya said in the upgrade note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
Credo Technology's outlook suggests "the start of a multi-year adoption cycle for its Active Electrical Cable (AEC) product that enables power-efficient AI clusters," he added.
The company's earnings call addressed the concerns around the market for AEC, "with 3x 10% customers," including Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) as well as "growing momentum in other adjacent areas (optical DSP, line card PHY, retimer)," the analyst stated.
Credo Technology is likely to generate robust results in the back half of fiscal 2025, "driven by strong AI growth at Amazon Web Services, a key customer (and investor)," he further wrote.
CRDO Price Action: Shares of Credo Technology had risen by 49.24% to $71.34 at the time of publication on Tuesday.
Read More: • <a href="https://www.benzinga.com/24/12/42284734/why-credo-technology-group-shares-are-trading-higher-by-40-here-are-20-stocks-moving-premarket">Why Credo Technology Group Shares Are Trading Higher By 40%; Here Are 20 Stocks Moving Premarket</a>
Photo: Courtesy Credo

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MSFT

Credo Technology Analyst Double Upgrades AI Play, Raises Forecast By Almost 200%

<figure class="wp-block-image size-large"><img decoding="async" src="https://thearorareport.com/wp-content/uploads/2024/12/2024-12-03_07h59_45.png" alt="" /></figure>
To gain an edge, this is what you need to know today.
<h4 class="wp-block-heading">Lack Of Sellers</h4>
Please click here for a chart of SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) which represents the benchmark stock market index S&amp;P 500 (SPX).
Note the following:
<ul>
<li>The chart shows that after a very shallow pullback, the stock market has moved higher.&nbsp;&nbsp;</li>
<li>The chart shows that in this bullish environment, the breakout line acted as support.</li>
<li>The chart shows that the volume remains low during this rally.&nbsp; The interpretation in this case is that there are very few sellers. &nbsp;As a result, it does not take much for the market to go higher.&nbsp;&nbsp;</li>
<li>In The Arora Report analysis, here are the reasons for the lack of sellers:
<ul>
<li>Sellers want to wait until 2025 to book profits to defer paying taxes by one year.</li>
<li>Sentiment is extremely positive.</li>
<li>Complacency has set in among retail investors.&nbsp;&nbsp;</li>
<li>Professional traders and money managers are waiting for the year end chase by under performing money managers.&nbsp;</li>
</ul>
</li>
<li>RSI on the chart shows that the stock market is overbought.&nbsp;&nbsp;</li>
<li>China is responding to the latest U.S. sanctions on the export of certain semiconductors and semiconductor manufacturing equipment to China.&nbsp;&nbsp;</li>
<li>China has outright banned the export of gallium, germanium, and antimony to the U.S. &nbsp; China is also restricting export of graphite to the U.S.&nbsp; These materials are important in manufacturing certain semiconductors, night vision goggles, and certain parts of satellites.&nbsp; Among the beneficiaries of China's restrictions on exports to the U.S. is Mp Materials Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>).&nbsp; The stock is up about 13% as of this writing in the premarket.&nbsp;&nbsp;</li>
<li>JOLTS jobs openings will be released at 10am ET and may be market moving.&nbsp;&nbsp;</li>
<li>Investors are looking for clues to the jobs report that will be released on Friday at 8:30am ET. &nbsp;In The Arora Report analysis, the jobs report will play a major role in determining what the Fed does next.&nbsp;&nbsp;</li>
</ul>
<h4 class="wp-block-heading">Magnificent Seven Money Flows</h4>
In the early trade, money flows are positive in Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).
In the early trade, money flows are neutral in Alphabet Inc Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>).&nbsp;
In the early trade, money flows are negative in Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).
In the early trade, money flows are positive in SPDR S&amp;P 500 ETF Trust (SPY) and Invesco QQQ Trust Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
<h4 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h4>
Investors can gain an edge by knowing money flows in SPY and QQQ.&nbsp; Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.&nbsp; The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).&nbsp; The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>).&nbsp; The most popular ETF for oil is United States Oil ETF (ASCA:USO).
<h4 class="wp-block-heading">Bitcoin</h4>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is range bound, trading under $95,000.
<h4 class="wp-block-heading">Protection Band And What To Do Now</h4>
It is important for investors to look ahead and not in the rearview mirror.&nbsp; The proprietary protection band from The Arora Report is very popular.&nbsp; The protection band puts all of the data, all of the indicators, all of the news, all of the crosscurrents, all of the models, and all of the analysis in an analytical framework that is easily actionable by investors.&nbsp;
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h4 class="wp-block-heading">Traditional 60/40 Portfolio</h4>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga" target="_blank" rel="noreferrer noopener nofollow">Generate Wealth Newsletter</a>.

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$BTC

AAPL

GOOG

Lack Of Sellers In The Stock Market, China Retaliates Against U.S.

<ul>
<li>ACHR</li>
<li>SMCI</li>
<li>PL</li>
<li>MSTR</li>
<li>RKLB</li>
<li>AZZ</li>
<li>NVDA</li>
<li>TSLA</li>
<li>CORN</li>
<li>INTC</li>
</ul>
Data from <a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment</a>
&nbsp;

ACHR

CORN

INTC

MSTR

RKLB

Top 10 Trending Stocks On WallStreetBets As Of December 3, 2024 (Via Swaggy Stocks)

<figure class="wp-block-image aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="583" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/11/29092632/Black-Friday-Bargains-1024x583.jpg" alt="" class="wp-image-3701" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/11/29092632/Black-Friday-Bargains-1024x583.jpg 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/11/29092632/Black-Friday-Bargains-300x171.jpg 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/11/29092632/Black-Friday-Bargains-768x437.jpg 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/11/29092632/Black-Friday-Bargains.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Screening For Bargains On Black Friday</h2>
Since American retailers traditionally offer deals on the day after Thanksgiving (&#8220;Black Friday&#8221;), it seemed fitting to see if the stock market was offering any too. The main metric I used to screen for deals was Chartmill&#8217;s overall valuation rating. I used that, because it incorporates several measures of valuation, including Price/Earnings (P/E), Forward P/E, Price/Book, and PEG (P/E divided growth rate). 
<h2 class="wp-block-heading">Setting Up The Screen&nbsp;</h2>
To make sure I wasn&#8217;t picking up a bunch of &#8220;cheap for a reason&#8221; stocks, I added a few other technical and fundamental metrics to the screen:
<ul>
<li>Trades in U.S.</li>
<li>Has options.&nbsp;</li>
<li>Valuation rating &gt;=7.&nbsp;</li>
<li>Technical rating &gt;=6</li>
<li>Set-up rating &gt;=6</li>
<li>Growth rating &gt;=6</li>
<li>Profitability rating &gt;=6</li>
<li><a href="https://www.investopedia.com/terms/p/piotroski-score.asp" target="_blank" rel="noreferrer noopener">Piotroski F-Score</a> >=8</li>
</ul>
The technical and valuation ratings are self-explanatory; the set-up rating measures the short-term consolidation of share prices. Each of those ratings is on a scale of 0 to 10, with 10 being best; the Piotroski F-Score is on a scale from 0 to 9, with 9 being best.&nbsp;
<h2 class="wp-block-heading">The Results&nbsp;</h2>
That screen yielded these four names:&nbsp;
<ul>
<li>Neurocrine Biosciences, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>)</li>
<li>United Therapeutics Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>)</li>
<li>Supernous Pharmaceuticals, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SUPN#NASDAQ">SUPN</a>)</li>
<li>Expedia Group, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>)</li>
</ul>
<h2 class="wp-block-heading">Are These Stocks Worth Buying Now?&nbsp;</h2>
Maybe, but they&#8217;re probably not the best stocks to buy now. The best stocks typically aren&#8217;t cheap. In <a href="https://www.zerohedge.com/news/2024-11-20/post-just-saved-us-money-nvidia" target="_blank" rel="noreferrer noopener nofollow">a recent post</a> (&#8220;The Post That Just Saved Us Money On Nvidia&#8221;), I mentioned that I&#8217;d consider placing a bullish options trade on Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) again when it had a valuation rating of 6. I didn&#8217;t say a valuation rating of 7, because as long as the AI story continues, I don&#8217;t expect Nvidia to trade that cheaply. It may not even trade at a valuation rating of 6 in the near future, outside of a major market correction. Maybe it&#8217;s not worth waiting for one. 
<h2 class="wp-block-heading">The Valuation Ratings Of Portfolio Armor&#8217;s Top Ten Names</h2>
On Wednesday, I posted Portfolio Armor&#8217;s top ten names. Those are the ones are system estimates will have the highest returns over the next six months, net of hedging costs.
<figure class="wp-block-image aligncenter size-full"><a href="https://portfolioarmor.substack.com/p/top-names-11272024"><img loading="lazy" decoding="async" width="917" height="813" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/11/29092723/Top-Names-Wednesday.jpg" alt="" class="wp-image-3702" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/11/29092723/Top-Names-Wednesday.jpg 917w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/11/29092723/Top-Names-Wednesday-300x266.jpg 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/11/29092723/Top-Names-Wednesday-768x681.jpg 768w" sizes="(max-width: 917px) 100vw, 917px" /></a></figure>
Occasionally, we see some inexpensive stocks on that list (valuation ratings of 7 or so), but this week. The average valuation rating of the stocks in Wednesday&#8217;s top ten was 2.7. The overall top name,&nbsp;Tesla, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), had a valuation rating of 4.&nbsp;
<h2 class="wp-block-heading">The Limits Of Valuation </h2>
If you think about Tesla&#8217;s Optimus robots, you get a sense of the limitations of valuation in selecting stocks.
<figure class="wp-block-embed aligncenter is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Tesla Optimus Robot Explained" width="500" height="281" src="https://www.youtube.com/embed/1t1KMXSBrBM?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
The robots aren&#8217;t for sale to the general public yet, so they don&#8217;t appear in any of the metrics that comprise Tesla&#8217;s valuation rating. But Tesla CEO Elon Musk says they&#8217;ll be the most popular product in the world. If he&#8217;s right, Tesla shares will be worth a lot more in the future.&nbsp;
Deciding whether Elon is likely to be right about those robots may turn out to be a more profitable exercise for investors than crunching valuation numbers. Our system defers to the wisdom of crowds on that&#8211;the crowd of stock investors, and the crowd of options traders. Its gauges of share price movement and options sentiment suggest it makes sense to bet on Tesla now.&nbsp;
Would you like a heads up when we place our next trade based on our top names? If so, you can subscribe to our trading Substack/occasional email list below.&nbsp;
Are you are concerned about market risk? You can download our optimal hedging app by clicking on the QR code below, or aiming your iPhone camera at it.
<figure class="wp-block-image size-full"><a href="https://apps.apple.com/us/app/portfolio-armor/id394951144"><img loading="lazy" decoding="async" width="200" height="197" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/11/29092919/QR-Code-8.jpg" alt="" class="wp-image-3703" /></a></figure>
If you&#8217;d like to stay in touch
You can scan for optimal hedges for individual securities, find our current top ten names,&nbsp;on&nbsp;<a href="https://portfolioarmor.com/">our website</a>.&nbsp;You can also follow Portfolio Armor on X&nbsp;<a href="https://twitter.com/portfolioarmor">here</a>, or become a free subscriber to our trading Substack using the link below (we&#8217;re using that for our occasional emails now).
<figure class="wp-block-image aligncenter size-full"><a href="https://portfolioarmor.substack.com/"><img loading="lazy" decoding="async" width="602" height="418" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/11/29093038/Widget-8.jpg" alt="" class="wp-image-3704" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/11/29093038/Widget-8.jpg 602w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/11/29093038/Widget-8-300x208.jpg 300w" sizes="(max-width: 602px) 100vw, 602px" /></a></figure>

EXPE

NBIX

SUPN

Screening For Black Friday Bargains In The Stock Market

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2024/11/26/final-trades-amazon-charter-lockheed-martin-rockwell-automation.html">Halftime Report Final Trades</a>,&#8221; Bryn Talkington of Requisite Capital Management named Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings">as her final trade</a>.
On Monday, Roth MKM analyst Craig Irwin upgraded Tesla from Neutral to Buy and raised the price target from $85 to $380.
Jim Lebenthal of Cerity Partners named Wynn Resorts, Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WYNN#NASDAQ">WYNN</a>), as Macau saw very good numbers for November.
On Nov. 4, Wynn Resorts reported worse-than-expected third-quarter EPS and revenues. The company reported operating revenues of $1.69 billion, missing the consensus of $1.73 billion. Adjusted Property EBITDAR declined slightly to $527.7 million from $530.4 million in the year-ago quarter. Adjusted EPS of 90 cents missed the street view of $1.01.
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
Stephen Weiss of Short Hills Capital Partners picked iShares Bitcoin Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NYSE">IBIT</a>).
Joseph M. Terranova of Virtus Investment Partners said CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) is positioned to reach a new all-time high.
On Nov. 26, CrowdStrike reported third-quarter revenue of $1.01 billion, beating the consensus estimate of $982.36 million and reflecting a 29% year-over-year increase. Adjusted earnings per share came in at 93 cents, beating the estimate of 81 cents. The company&#8217;s annual recurring revenue grew 27% year-over-year to $4.02 billion, with $153 million added in net new ARR during the quarter.
Price Action:
<ul>
<li>Tesla shares gained 3.5% to close at $357.09 on Monday.</li>
<li>Wynn Resorts shares gained by 1.9% to settle at $96.16 during Monday's session.</li>
<li>iShares Bitcoin Trust shares fell by 1.3% to close at $54.48 during Monday's session.</li>
<li>CrowdStrike rose by 0.2% to settle at $346.80 during the session.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/24/12/42267284/this-analyst-with-85-accuracy-rate-sees-more-than-8-upside-in-crowdstrike-here-are-5-stock-picks-for-november-from-wall-streets-most-accurate-analysts">This Analyst With 85% Accuracy Rate Sees More Than 8% Upside In CrowdStrike &#8211; Here Are 5 Stock Picks For November From Wall Street&#8217;s Most Accurate Analysts</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Media

CRWD

IBIT

WYNN

Tesla, CrowdStrike, Wynn Resorts And More On CNBC's 'Final Trades'

A Delaware judge once again struck down a compensation plan for Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk from 2018 <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42279851/elon-musk-56b-pay-package-rejected-by-judge-again-tesla-analyst-says-a-soap-opera-playing-out-in-delaware">on Monday</a>, six months after Tesla shareholders approved the $56 billion pay package for <a href="https://www.benzinga.com/news/24/06/39323339/tesla-shareholders-approve-elon-musk-56b-pay-package-other-company-proposals" target="_blank" rel="noreferrer noopener">a second time.</a>
The Timeline: Delaware Chancery Court Judge&nbsp;Kathaleen McCormick&nbsp;ruled in January that the pay package would be voided due to Tesla&#8217;s board being influenced by Musk when they adopted the plan.&nbsp;Tesla shareholders voted again to reinstate the package in June. 
However, McCormick again ruled against the package on Monday. Tesla said in a post on X that the company deems the ruling to be wrong and intends to appeal to the Delaware Supreme Court while adding that the judge overruled a supermajority of shareholders. However, appealing could typically take around a year. 
What Next: Tesla board chair Robyn Denholm said in June prior to shareholders voting for the pay package yet again that there are multiple possibilities if the package gets rejected. The board then considered creating a new pay plan but the decision would cost shareholders more or result in decreased motivation for the company CEO, Denholm then said, as <a href="https://www.businessinsider.com/tesla-robyn-denholm-what-happens-elon-musk-pay-plan-rejected-2024-6">reported</a> by Business Insider.
Ratifying a new plan could cost the EV giant&#8217;s shareholders an additional $25 billion in the form of stock-based compensation, according to Denholm.
The 2018 pay package awarded Musk stock options if the company hit certain performance and financial targets. Musk cleared all targets, giving the award a hefty value. While the package was originally valued at up to $56 billion, it is now worth over $100 billion given the stock&#8217;s recent rally following Trump&#8217;s re-election to the white house, as per Reuters. 
According to Tesla, formulating a new pay package or offering Musk the old one could both be costly. While a settlement is possible in the lawsuit, it is unlikely given Musk&#8217;s previous track record of taking cases to trial. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42259569/chinese-ev-behemoth-and-tesla-rival-byd-marks-68-growth-in-november-sales-on-rising-popularity-of-plug-in-hybrid-evs" target="_blank" rel="noreferrer noopener">Tesla Rival BYD Marks 68% Growth In November Sales Driven By Popularity Of Plug-In Hybrid EVs</a></li>
</ul>
Photo courtesy: Shutterstock

Legal

Tesla Chair Estimates New Pay Plan For Elon Musk Could Cost $25B More. Now, Delaware Judge Has Rejected It For The 2nd Time: Here's What's Coming Next

U.S. stock futures were in negative territory during Tuesday&#8217;s premarket hours as the dollar slipped to 106.3 level.
The U.S. 10-year and two-year Treasury notes yielded 4.21% and 4.18%, respectively. Expectations of a further 25 basis point rate cut in December rose to 72.5%, according to <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME Group&#8217;s FedWatch tool</a>.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.08%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.02%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.07%</td>
</tr>
<tr>
<td>Russel 2000</td>
<td>-0.11%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Monday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was down 0.01% to $603.60 and the Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.09% to $514.84, according to <a href="https://www.benzinga.com/">Benzinga Pro</a> data.
Cues From The Last Session
The U.S. stock market closed higher on Monday, with the <a href="https://www.benzinga.com/24/12/42282669/sp-nasdaq-settle-at-record-highs-as-tesla-shares-surge-investor-sentiment-decreases-but-fear-greed-index-remains-in-greed-zone">S&amp;P 500 and Nasdaq Composite reaching new highs</a>.
Key Drivers:
<ul>
<li>Tesla Boost: Tesla shares surged 3.5% after Roth MKM upgraded the stock and raised its price target.</li>
<li>Super Micro Rebound: Super Micro Computer stock jumped 29% following a positive company announcement.</li>
<li>Economic Data: U.S. construction spending increased and the ISM manufacturing PMI rose, beating expectations.</li>
<li>Sector Performance: While most S&amp;P 500 sectors closed lower, communication services and consumer discretionary stocks outperformed. Utilities, real estate, and financials lagged.</li>
</ul>
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.97%</td>
<td>19,404</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.24%</td>
<td>6,047.15</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.29%</td>
<td>44,782</td>
</tr>
<tr>
<td>Russel 2000</td>
<td>-0.02</td>
<td>2,434</td>
</tr>
</tbody>
</table>
</figure>
Also read: <a href="https://www.benzinga.com/markets/equities/24/12/42282948/ubs-forecasts-sp-500-to-hit-6600-in-2025-citing-support-from-over-easy-global-central-bank-policy">UBS Forecasts S&amp;P 500 To Hit 6,600 In 2025, Citing Support From &#8216;Over-Easy Global Central Bank Policy&#8217;</a>
Insights From Analysts: Chief investment officer at UBS Global Wealth Management, Mark Haefele termed the decade so far as the &#8220;Roaring 20s,&#8221; marked by high economic growth, strong market returns, and improving productivity.
In his ‘<a href="https://www.ubs.com/global/en/wealthmanagement/insights/chief-investment-office/roaring-20s-the-next-stage.html#review">UBS Year Ahead 2025 Report</a>‘ he said "After strong years for equities in 2023 and 2024, we see further upside in 2025. We expect the S&amp;P 500 to reach 6,600 by the end of 2025, around 10% higher than today&#8217;s levels."
"We expect central banks to cut interest rates further in the year ahead, reducing cash returns," Haefele added.
Highlighting his economic outlook he said, "In our base case, we expect sustained economic growth in the U.S., supported by healthy consumption, loose fiscal policy, and lower interest rates. Tariff threats are a headwind for Asia and Europe. If imposed, they could be partially offset by reactive stimulus measures in China."
Chief market strategist at Carson Group LLC, Ryan Detrick highlighted that &#8220;With a new high in December, we&#8217;ve seen new highs in 10 out of 12 months this year (April and August didn&#8217;t).&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Today was the 54th all-time high in &#39;24 for the S&amp;P 500. Officially the 5th most ever (since 1957 when it moved to 500 stocks). 62 in 2017 is next up. With a new high in December, we&#39;ve seen new highs in 10 out of 12 months this year (April and August didn&#39;t). Not bad. <a href="https://t.co/FiEJ27kjVr">pic.twitter.com/FiEJ27kjVr</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1863771861034668045?ref_src=twsrc%5Etfw">December 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Unrelated to past cycles, global central banks are easing monetary policy despite strong economic growth, high asset prices, and elevated inflation, said Bob Elliott, the chief investment officer at Unlimited Funds. Elliott presented the underlying data reiterating these conditions in a thread on X, indicating a positive sign for the markets.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The global economy is getting a shot of adrenaline from a coordinated central bank easing. But unlike the past, it comes at a time when growth is pretty good, asset prices are near highs, and inflation remains elevated. Thread.
&mdash; Bob Elliott (@BobEUnlimited) <a href="https://twitter.com/BobEUnlimited/status/1863551595545334237?ref_src=twsrc%5Etfw">December 2, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Upcoming Economic Data
This week&#8217;s economic calendar is packed after a short last week due to Thanksgiving.
<ul>
<li>On Tuesday, job openings data for October will be released at 10:00 a.m. ET and auto sales data will be released for which the time is yet to be determined.</li>
<li>On Wednesday, November&#8217;s data on ADP employment will be released at 8:15 a.m. ET.</li>
<li>St. Louis Fed President Musalem will speak at 8:45 a.m. ET.</li>
<li>The S&amp;P final U.S. services PMI for November will be released at 9:45 a.m. ET.</li>
<li>The ISM services and factory orders data for November and October, respectively, will be released at 10:00 a.m. ET.</li>
<li>Fed Beige Book will be released at 2:00 p.m. ET.</li>
<li>On Thursday, initial jobless claims data for November and U.S. trade deficit data for October will be released at 8:30 a.m. ET.</li>
<li>On Friday, the U.S. employment report, U.S. unemployment rate, and U.S. hourly wages data will be released at 8:30 a.m. ET.</li>
<li>The preliminary data for consumer sentiment will be released at 10 a.m. ET.</li>
<li>Chicago Fed President Goolsbee will speak at 10:30 a.m., ET.</li>
<li>Consumer credit data will be released at 3:00 p.m. ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Shimmick Construction (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHIM#NASDAQ">SHIM</a>) was 57.5% higher at $4.43 apiece in premarket after it landed a $45.4 million contract to build the Murray Street Bridge in Santa Cruz.</li>
<li>Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)<a href="https://www.benzinga.com/24/12/42284776/super-micro-shares-rise-over-7-in-premarket-after-independent-special-committee-found-no-evidence-of-misconduct-but-top-investment-bank-flags-two-key-points-to-watch"> was 6.67% up</a> at $44.8 per share after it announced that the independent Special Committee formed by the company&#8217;s board completed its review.</li>
<li>Santi Biosciences Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNTI#NASDAQ">SNTI</a>) shares were 4.50% down at $9.55 apiece after it secured a $37.6 million private placement financing through the sale of 16,713 shares of Series A Convertible Preferred Stock.</li>
<li>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares were down 1.3% to $352.44 apiece after Elon Musk&#8217;s pay package was rejected again by a Delaware judge despite being approved by Tesla shareholders at a June meeting.</li>
<li>Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) was up 0.17% at $23.97 per share after the retirement announcement of its chief executive officer, Pat Gelsinger.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures rose in the early New York session, advancing 0.91% to hover around $68.72.
The Dollar Index was down 0.12% to 106.3 level. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was down 0.16% over the past 24 hours and traded just over the $95K mark.
Major Asian markets closed higher on Tuesday. European markets were also upbeat. 
<ul>
<li>Read next: <a href="https://www.benzinga.com/24/12/42283257/charles-schwab-goldman-sachs-invesco-add-mara-holdings-morgan-stanley-cuts-stake-here-is-what-changed-with-mara-holdings-in-q3">Charles Schwab, Goldman Sachs Boosts MARA Stake As Stock Rallies 30% In Past 6 Months: Morgan Stanley, Other Major Funds Trim Positions In Q3</a></li>
</ul>
Image via Shutterstock

General

SHIM

SNTI

US Stock Futures Dip As Dollar Slides And Treasuries Rise After S&P Hits 54th All-Time High This Year: Analyst Sees 'Further Upside' Of Around 10% In 2025 From Current Levels

Roth MKM analyst Craig Irwin on Monday raised Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) price target by 347% from $85 to $380 and upgraded the rating to a &#8220;buy&#8221; from &#8220;neutral.&#8221;
What Happened: A long-time Tesla bear, Irwin turned bullish on Tesla on Monday. 
Talking about his change in opinion in an appearance on CNBC, Irwin noted the benefits that Tesla might reap out of its CEO&#8217;s new association and support for President-elect Donald Trump.
&#8220;This quarter is probably the last quarter of relative weakness; Now he (Elon) has got a new pool of buyers. Conservatives that might not have looked at EVs quite as closely in the past that allow an acceleration of demand in the core U.S. market,&#8221; said Irwin.
&#8220;I don&#8217;t see very many negative catalysts&#8230; There are abundant positive catalysts&#8230; Bias is now to the upside, not the downside. The market cap may be huge&#8230; but they are doing big things.&#8221;
Other EV brands that relied on EV subsidies will face a &#8220;sunset&#8221; under Trump given reports that he is planning to<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42005034/elon-musk-backs-calls-for-end-to-ev-subsidies-but-former-tesla-exec-warns-of-massive-drop-in-manufacturing-investments-if-trump-follows-through"> reduce or remove EV-related subsidies</a>, he noted, in a positive push for Tesla.
Irwin is also optimistic about the contribution of the Cybercab to the Tesla stock&#8217;s value for investors. &#8220;We&#8217;re going to see incremental progress and people are going to be able to have a tangible experience, and that&#8217;s what I think drives value in the stock and drives enthusiasm to own the stock.&#8221;
Why It Matters: Tesla shares rallied following Trump&#8217;s win in the Presidential elections. 
Musk actively campaigned for Trump in the swing state of Pennsylvania and the President-elect named the billionaire to lead the Department of Government Efficiency aimed at bringing down government bureaucracy, slashing excess regulations, cutting waste expenditures, and restructuring federal agencies.
The newly-forged relationship has caused investors to be positive about the way forward for Tesla with hopes of easing restrictions on the development of technology aimed at vehicle autonomy and removal of EV-related subsidies that may harm rival smaller players in favor of Tesla.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="This is Tesla&#039;s last quarter of relative weakness, says Roth Capital&#039;s Craig Irwin" width="500" height="281" src="https://www.youtube.com/embed/CulW18iYS4k?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Price Action: Tesla shares closed up 3.5% at $357.09 on Monday. The stock is up 44% year-to-date, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
The Tesla stock has a consensus rating of &#8220;Buy.&#8221; The average price target of $339 based three most recent ratings from Roth MKM, Stifel, and UBS implies a 5% downside.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42259569/chinese-ev-behemoth-and-tesla-rival-byd-marks-68-growth-in-november-sales-on-rising-popularity-of-plug-in-hybrid-evs" target="_blank" rel="noreferrer noopener">Tesla Rival BYD Marks 68% Growth In November Sales Driven By Popularity Of Plug-In Hybrid EVs</a></li>
</ul>
Photo courtesy: Shutterstock

Tesla Bear Craig Irwin Turns Bullish On EV Giant, Increases Price Target By 347%: 'There Are Abundant Positive Catalysts'

Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) insurance registrations in China reached 18,600 units for the week ending Dec. 1, indicating robust demand in one of the electric vehicle maker&#8217;s key markets, according to data shared by industry analysts.
What Happened: The Future Fund LLC Managing Partner Gary Black said that Tesla China&#8217;s fourth quarter performance is showing significant growth, with registrations up 14.2% year-over-year and 5.8% quarter-over-quarter. The current trajectory suggests this could be Tesla China&#8217;s strongest quarter to date.
Recent weekly registration data has shown consistent strength, with numbers holding steady above 16,700 units throughout November. The latest figure of 18,600 units represents a notable improvement from previous weeks&#8217; registrations of 17,300, 17,100, and 16,700 units.
Historical data reveals substantial growth in Tesla&#8217;s Chinese market presence. Insurance registrations jumped from 440,793 units in 2022 to 610,074 units in 2023, demonstrating the company&#8217;s expanding foothold in the world&#8217;s largest automotive market. The 2024 projections indicate continued growth, with weekly registrations consistently outpacing previous years.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> China recorded 18.6K insured registrations for the week of Nov 25-Dec 1. After 9 weeks, 4th qtr is +14.2% YoY, +5.8% QoQ, and in position to be TSLA China's best qtr ever. Source: <a href="https://twitter.com/piloly?ref_src=twsrc%5Etfw">@piloly</a> <a href="https://twitter.com/Tslachan?ref_src=twsrc%5Etfw">@Tslachan</a> <a href="https://t.co/PxSmR404oL">pic.twitter.com/PxSmR404oL</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1863844453351411861?ref_src=twsrc%5Etfw">December 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/24/12/42283257/charles-schwab-goldman-sachs-invesco-add-mara-holdings-morgan-stanley-cuts-stake-here-is-what-changed-with-mara-holdings-in-q3">Charles Schwab, Goldman Sachs Boosts MARA Stake As Stock Rallies 30% In Past 6 Months</a>
Why It Matters: This positive momentum comes as Tesla faces challenges in other areas. The company recently confirmed it has no immediate plans to introduce its newly launched Cybertruck in China, according to Chinese media outlet Jiemian. CEO Elon Musk <a href="https://www.benzinga.com/24/12/42282544/tesla-has-no-plans-to-sell-cybertruck-in-china-report">previously cited potential regulatory hurdles</a> for the stainless steel vehicle in the Chinese market.
Tesla&#8217;s Shanghai gigafactory, which produces the company&#8217;s mass-market Model 3 and Model Y vehicles, has been crucial to its success in China. Unlike the premium Model S and Model X, which are imported, these locally manufactured vehicles have helped Tesla capture a significant share of China&#8217;s growing electric vehicle market.
The strong insurance registration numbers suggest Tesla continues to maintain robust demand in China despite increasing competition from local manufacturers and global economic uncertainties.
Price Action: Tesla stock closed at $357.09 on Monday, up 3.46%, for the day. In after-hours trading, the stock dipped 1.23%. Year to date, Tesla&#8217;s stock has surged 43.74%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Tesla has a consensus price target of $246.16 based on 34 analysts. The highest target is $411, and the lowest is $24.86. Recent ratings from Roth MKM, Stifel, and UBS suggest an average target of $339, implying a 5% downside, according to <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings">data from Benzinga Pro</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/quote/TSLA/analyst-ratings"><img loading="lazy" decoding="async" width="474" height="356" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/03040325/Tesla-ratings.jpg" alt="" class="wp-image-674066" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/03040325/Tesla-ratings.jpg 474w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/03040325/Tesla-ratings-300x225.jpg 300w" sizes="(max-width: 474px) 100vw, 474px" /></a></figure>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/12/42282266/cathie-wood-led-arks-prediction-ai-will-turn-digital-wallets-into-9-trillion-e-commerce-powerhouses-google-amazon-dominance-set-for-disruption">Cathie Wood-Led Ark&#8217;s Prediction: AI Will Turn Digital Wallets Into $9 Trillion E-Commerce Powerhouses — Google, Amazon Dominance Set For Disruption?</a></li>
</ul>
Image via Tesla
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Global

Tesla China Sees Robust Demand In Q4, With Registrations Up 14.2% YoY So Far: Expert Says EV Giant On Track For 'Best Quarter Ever'

<a href="https://cnevpost.com/2024/12/03/tesla-china-sells-78856-cars-nov-2024/" title="https://cnevpost.com/2024/12/03/tesla-china-sells-78856-cars-nov-2024/">https://cnevpost.com/2024/12/03/tesla-china-sells-78856-cars-nov-2024/</a>

China Passenger Car Association Said Tesla Sold 78,856 China-Made Vehicles In November Up 15.49% Vs October; Down 4.34% Vs November 2023

EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has reportedly informed its workers on the <a href="https://www.benzinga.com/topic/tesla-cybertruck">Cybertruck</a> production line at its gigafactory in Texas to take three days off starting from Tuesday.
What Happened: Tesla told its employees in a memo seen <a href="https://www.businessinsider.com/tesla-tells-cybertruck-staff-not-to-report-to-work-2024-12">by</a> Business Insider that workers need not report to work on Tuesday, Wednesday, and Thursday.
Workers would return to Cybertruck&#8217;s production line on Friday and would receive eight hours of pay for each day they were scheduled to work. However, some workers will not have the same schedule and will be notified separately, the memo reportedly added. 
Tesla did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comment.
According to the report, the schedule of workers working at the Cybertruck line has been inconsistent since late October.
Why It Matters: Tesla started delivering the Cybertruck to customers in the U.S. in November 2023. Months prior to starting deliveries, company CEO Elon Musk said that scaling production and not demand would be the biggest hurdle for Cybertruck given its strong order book. Musk then said that the company already has over a million pre-orders for the vehicle.
However, upon the start of deliveries, the vehicle was priced significantly higher than the estimated price provided at the time of the vehicle&#8217;s unveiling in 2019, possibly deterring reservation holders from making the purchase. 
According to data from automotive research company Kelley Blue Book, <a href="https://www.benzinga.com/news/24/10/41325252/tesla-cybertruck-leads-the-pack-as-most-popular-ev-truck-in-us-in-q3-outselling-rivals-from-ford-gm" target="_blank" rel="noreferrer noopener">Tesla sold 16,692 Cybertrucks</a> in the third quarter in the U.S., trumping EV trucks from rivals including the Ford F-150 Lightning and the Rivian R1T, to become the third-best-selling EV behind Model Y and Model 3.
However, the company had bigger ambitions for the Cybertruck with Musk previously saying that the company is aiming to make up to 250,000 Cybertrucks in 2025. 
However, Tesla is not the only one to temporarily pause the production of its EV pickup. Last month, Benzinga reported that Ford will pause the production of its&nbsp;<a href="https://www.benzinga.com/topic/ford-f-150-lightning" target="_blank" rel="noreferrer noopener">F-150 Lightning pickup</a>&nbsp;truck for <a href="https://www.benzinga.com/news/24/11/41677673/ford-f-150-lightning-pickup-truck-production-to-be-halted-temporarily-after-teslas-cybertruck-races">six weeks from Nov. 18 to Jan.6</a> at the Rouge Electric Vehicle Plant. 
&#8220;We continue to adjust production for an optimal mix of sales growth and profitability," Ford said about the decision then.
Price Action: Tesla stock closed at $357.09 on Monday, up by 3.5%. In after-hours trading, it fell 1.2%. Year-to-date, the stock has risen 43.7%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
The Tesla stock has a <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings">consensus &#8220;Buy&#8221; rating from analysts</a>, with the highest price target being $411. According to the three most recent analyst ratings released by Roth MKM, Stifel, and UBS, the stock has an average price target of $339, which implies a 5% downside from the current price.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/quote/TSLA/analyst-ratings"><img loading="lazy" decoding="async" width="474" height="356" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/03040325/Tesla-ratings.jpg" alt="" class="wp-image-674066" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/03040325/Tesla-ratings.jpg 474w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/03040325/Tesla-ratings-300x225.jpg 300w" sizes="(max-width: 474px) 100vw, 474px" /></a></figure>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42259569/chinese-ev-behemoth-and-tesla-rival-byd-marks-68-growth-in-november-sales-on-rising-popularity-of-plug-in-hybrid-evs" target="_blank" rel="noreferrer noopener">Tesla Rival BYD Marks 68% Growth In November Sales Driven By Popularity Of Plug-In Hybrid EVs</a></li>
</ul>
Photo courtesy: Shutterstock

Tesla Gives Cybertruck Production Line Workers 3 Days Off: Report

Vivek Ramaswamy, the newly nominated co-lead of the Department of Government Efficiency or DOGE, has intensified his criticism of the President Joe Biden administration&#8217;s electric vehicle loans, targeting a $7.5 billion loan to StarPlus Energy, a joint venture involving Stellantis N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>), just days <a href="https://www.benzinga.com/news/24/11/42255070/musk-ally-ramaswamy-takes-aim-at-bidens-6-6b-loan-to-tesla-rival-rivian">after questioning a $6.6 billion loan</a> to Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rival Rivian Automotive Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>).
What Happened: &#8220;Biden&#8217;s midnight spending spree is illegitimate &amp; should be rescinded,&#8221; Ramaswamy wrote on X on Tuesday, pointing to the Department of Energy&#8217;s latest loan announcement. 
The timing is particularly notable as it comes amid leadership turmoil at Stellantis, following CEO Carlos Tavares&#8216; <a href="https://www.benzinga.com/news/management/24/12/42258470/jeep-marker-stellantis-ceo-carlos-tavares-resigns-amid-falling-us-sales-and-trade-pressures-board-cites-different-views">abrupt resignation on Monday</a> over &#8220;different views&#8221; with the board.
Ramaswamy specifically highlighted concerns about the Advanced Technology Vehicles Manufacturing (ATVM) loan program, noting that the Government Accountability Office had recommended its termination in 2014 for being duplicative. &#8220;Instead Biden expanded the program, allowing ~$55BN to be squandered under the Inflation Reduction Act,&#8221; he stated.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Biden's midnight spending spree is illegitimate &amp; should be rescinded. The Department of Energy just announced a staggering $7.5BN loan to StarPlus, a JV that includes Stellantis (whose CEO resigned just yesterday). The money comes from the ATVM loan program, which the GAO called… <a href="https://t.co/Rzi2m1tdp2">https://t.co/Rzi2m1tdp2</a>
&mdash; Vivek Ramaswamy (@VivekGRamaswamy) <a href="https://twitter.com/VivekGRamaswamy/status/1863764934514938118?ref_src=twsrc%5Etfw">December 3, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/global/24/12/42281825/tom-lee-predicts-sp-500-to-hit-6300-bitcoin-to-surpass-100k-by-year-end-says-trump-carrying-a-big-stick-can-be-effective">Tom Lee Predicts S&amp;P 500 To Reach 6,300, Bitcoin To Break $100K By Year-End, Says Trump&#8217;s Tariffs Can Be Effective &#8216;Negotiating Tools&#8217;</a>
Why It Matters: The scrutiny of these loans comes at a critical time for the EV industry. Rivian has yet to achieve profitability, though it aims to generate its first gross profit in the current quarter.
Meanwhile, Stellantis faces its challenges, <a href="https://www.benzinga.com/24/11/41731374/while-stellantis-performed-below-its-potential-li-auto-reported-strong-and-record-numbers">including a 27% revenue decline</a> to 33 billion euros in the third quarter and potential impacts from proposed tariffs on Mexican imports.
The Department of Energy has <a href="https://www.benzinga.com/news/24/11/42255070/musk-ally-ramaswamy-takes-aim-at-bidens-6-6b-loan-to-tesla-rival-rivian">defended its loan program</a>, citing Tesla&#8217;s successful 2010 loan repayment as evidence of the program&#8217;s effectiveness. 
However, Ramaswamy suggests potential political motivations behind the recent loans, particularly given the tensions between the Biden administration and Tesla CEO Elon Musk. 
This was recently highlighted in California, where Governor Gavin Newsom proposed excluding Tesla from state EV incentives despite it being the <a href="https://www.benzinga.com/tech/24/11/42183055/elon-musk-slams-californias-proposal-to-shut-tesla-evs-out-of-consumer-rebates-in-state-this-is-insane">only EV manufacturer in the state</a>.
Ramaswamy pledged to &#8220;carefully scrutinize every one of these questionable 11th-hour transactions&#8221; when he assumes his role alongside Musk following President-elect Donald Trump&#8216;s inauguration on Jan. 20.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/12/42282266/cathie-wood-led-arks-prediction-ai-will-turn-digital-wallets-into-9-trillion-e-commerce-powerhouses-google-amazon-dominance-set-for-disruption">Cathie Wood-Led Ark&#8217;s Prediction: AI Will Turn Digital Wallets Into $9 Trillion E-Commerce Powerhouses — Google, Amazon Dominance Set For Disruption?</a></li>
</ul>
Image via Flickr
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Government

RIVN

STLA

Elon Musk's DOGE Co-Lead Already Targeting Tesla Rivals? Vivek Ramaswamy Flags Stellantis' $7.5B Loan Days After Criticizing Rivian's $6.6B Loan

On Monday, a study funded by OpenAI CEO Sam Altman unveiled surprising findings that challenge core arguments against basic income programs, showing recipients placed higher value on work after receiving monthly payments.
What Happened: The research, one of the largest basic income studies to date, provided participants with $1,000 monthly payments over three years. While initial findings in July showed reduced stress and food insecurity, the latest results focus on recipients&#8217; attitudes toward work and political views.
&#8220;It&#8217;s fascinating that people&#8217;s political views remained largely unchanged,&#8221; David Broockman, the study&#8217;s co-author <a href="https://www.businessinsider.com/sam-altman-basic-income-study-new-findings-work-ubi-2024-12">told</a> Business Insider. &#8220;Those mildly supportive stayed supportive, while opponents maintained their opposition.&#8221;
This study has big implications for investors as the <a href="https://www.benzinga.com/startups/24/07/39619831/elon-musk-predicts-jobs-will-become-obsolete-but-he-foresees-a-high-universal-income-that-acts-as-an">debate over basic income heats up</a>, especially with AI threatening traditional jobs. Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk has been vocal about the need for "universal high income," while companies like NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) are heavily involved in developing automation technologies.
OpenResearch Director Elizabeth Rhodes noted participants demonstrated &#8220;greater sense of the intrinsic value of work&#8221; after receiving payments. &#8220;People are more likely to be searching for a job. They&#8217;re more likely to have applied for jobs,&#8221; Rhodes said, despite a slight uptick in unemployment among recipients.
The study&#8217;s political implications could prove significant as several states move to block basic income programs. Conservative lawmakers in Texas, South Dakota, and Iowa have opposed such initiatives, citing concerns about socialism.
See Also: <a href="https://www.benzinga.com/markets/equities/24/12/42282266/cathie-wood-led-arks-prediction-ai-will-turn-digital-wallets-into-9-trillion-e-commerce-powerhouses-google-amazon-dominance-set-for-disruption">Cathie Wood-Led Ark&#8217;s Prediction: AI Will Turn Digital Wallets Into $9 Trillion E-Commerce Powerhouses — Google, Amazon Dominance Set For Disruption?</a>
Why It Matters: Broockman emphasized the program&#8217;s apolitical nature could enhance its viability. &#8220;A liberal hope and conservative fear might be that people receiving transfers would support bigger redistribution, but we just don&#8217;t find that,&#8221; he said.
The research gains additional relevance as AI industry leaders like Geoffrey Hinton warn of <a href="https://www.benzinga.com/news/24/05/38911101/universal-basic-income-was-a-good-idea-ai-godfather-geoffrey-hinton-warns-of-job-losses-and-extincti">potential job displacement</a>. Vinod Khosla, a prominent venture capitalist, recently predicted AI could replace 80% of jobs within 25 years, advocating for basic income as a crucial safety net.
Broockman suggests future programs&#8217; success may hinge on transparency in implementation. &#8220;Administering it in a way that is visible to people is really important,&#8221; he noted, comparing it to often-overlooked government benefits like mortgage interest tax deductions.
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/movers/24/12/42281558/bitcoin-ethereum-dogecoin-dip-as-investors-get-spooked-by-us-governments-2b-btc-transfer-analyst-says-breakout-above-100k-could-trigger-20-25-correction-in-top-crypto">Bitcoin, Ethereum, Dogecoin Dip As Investors Get Spooked By US Government&#8217;s $2B BTC Transfer: Analyst Says Breakout Above $100K Could Trigger 20-25% Correction In Top Crypto</a></li>
</ul>
Image Via Unsplash 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Does A $1K Monthly Basic Income Check Change How People View Work? Sam Altman's Study Leaves Researchers Surprised

The CNN Money Fear and Greed index showed some decline in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Monday.
U.S. stocks settled higher on Monday, with the S&amp;P 500 and Nasdaq Composite surging to fresh highs during the session.
Shares of Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) gained 3.5% on Monday after Roth MKM upgraded the stock from Neutral to Buy and raised its price target to $380. Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) shares jumped around 29% after the company announced it completed a review by an independent special committee and stated EY&#8217;s conclusions were not supported by findings.
The Dow gained 1.4% last week, recording a gain of 7.5% for November. The S&amp;P 500 gained 1.1% on the week, surging by more than 5% last month. The Dow and S&amp;P 500 recorded their best months of the year.
On the economic data front, U.S. construction spending increased by 0.4% month-over-month to an annual rate of $2,174 billion in October compared to a 0.1% gain in September. The ISM manufacturing PMI rose to 48.4 in November versus 46.5 in the previous month, beating market estimates of 47.5.
Most sectors on the S&amp;P 500 closed on a negative note, with utilities, real estate, and financial stocks recording the biggest losses on Monday. However, communication services and consumer discretionary stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 129 points to 44,782.00 on Monday. The S&amp;P 500 rose 0.24% to 6,047.15, while the Nasdaq Composite climbed 0.97% to close at at 19,403.95 during Monday's session.
Investors are awaiting earnings results from Core &amp; Main, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNM#NYSE">CNM</a>), Marvell Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>), and Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 66.6, the index remained in the &#8220;Greed&#8221; zone on Monday, versus a prior reading of 67.1.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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<li><a href="https://www.benzinga.com/24/12/42267284/this-analyst-with-85-accuracy-rate-sees-more-than-8-upside-in-crowdstrike-here-are-5-stock-picks-for-november-from-wall-streets-most-accurate-analysts">This Analyst With 85% Accuracy Rate Sees More Than 8% Upside In CrowdStrike &#8211; Here Are 5 Stock Picks For November From Wall Street&#8217;s Most Accurate Analysts</a></li>
</ul>
Photo courtesy: Shutterstock

Earnings

Pre-Market Outlook

MRVL

S&P, Nasdaq Settle At Record Highs As Tesla, SMCI Surge: Fear Index Remains In 'Greed' Zone

EV giant Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) China team has reportedly denied that the company&#8217;s latest offering &#8211; <a href="https://www.benzinga.com/topic/tesla-cybertruck">the Cybertruck</a> &#8211; will be brought to China via official channels anytime soon, laying rumors otherwise to rest.
What Happened: Tesla&#8217;s China team said that it has no plans to sell the Cybertruck in China, CnEVPost <a href="https://cnevpost.com/2024/12/03/tesla-no-timetable-selling-cybertruck-china/">reported</a>, citing a report from Chinese media outlet Jiemian. 
Tesla started delivering Cybertrucks to customers in the U.S. on Nov. 30, 2023. Since then, the company has also started delivering the vehicle to customers in Canada and Mexico. 
The company took the Cybertruck for a spin around China earlier this year as part of a tour but is yet to begin selling it in China. While Tesla&#8217;s China website lists the Cybertruck among the company&#8217;s several EV offerings, customers from the country cannot order it.
Why It Matters: Getting approvals for the stainless steel vehicle on roads would be difficult in China, Tesla CEO Elon Musk <a href="https://www.benzinga.com/news/24/01/36626369/tesla-ceo-elon-musk-tempers-down-expectations-of-cybertruck-rollout-in-china-could-ship-some-prototy">said in January</a>, without explaining the reason.
The Cybertruck is currently manufactured only at the <a href="https://www.benzinga.com/24/12/42262279/a-year-after-teslas-first-cybertruck-deliveries-the-truck-has-a-long-way-to-go-to-meet-musks-goals">company&#8217;s gigafactory in Texas</a>, meaning that if Tesla chooses to sell it in China, it would have to be imported into the country like the company&#8217;s other pricier EV offerings Model S and Model X.
Tesla&#8217;s gigafactory in Shanghai only <a href="https://www.benzinga.com/24/11/42194964/tesla-expands-in-china-partners-with-over-400-local-suppliers-report">makes the company&#8217;s lower-priced mass-market offerings</a> Model 3 and Model Y. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42259569/chinese-ev-behemoth-and-tesla-rival-byd-marks-68-growth-in-november-sales-on-rising-popularity-of-plug-in-hybrid-evs" target="_blank" rel="noreferrer noopener">Tesla Rival BYD Marks 68% Growth In November Sales Driven By Popularity Of Plug-In Hybrid EVs</a></li>
</ul>
Photo courtesy: Shutterstock

Tesla's Cybertruck Is Not Coming To China Anytime Soon: Report

A Delaware judge&#8217;s decision to void Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk&#8216;s $56 billion compensation package for a second time has ignited strong criticism from prominent technology leaders and investors, highlighting growing concerns about Delaware&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42279851/elon-musk-56b-pay-package-rejected-by-judge-again-tesla-analyst-says-a-soap-opera-playing-out-in-delaware">corporate governance framework</a>.
What Happened: Cathie Wood, CEO of Ark Invest, condemned Delaware Chancery Court Judge Kathaleen McCormick&#8216;s ruling, calling her an &#8220;activist judge&#8221; and arguing that shareholders&#8217; voting rights were being undermined. The package had received overwhelming shareholder approval twice, most recently with 77% support in June 2023.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Based on her <a href="https://twitter.com/TSLA?ref_src=twsrc%5Etfw">@TSLA</a> ruling, DE Judge McCormick is an activist judge at its worst. No judge has the right to determine CEO compensation. Shareholders voted twice, overwhelmingly each time, to ratify <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a>'s 2018 performance-based pay package. She will lose this fight in Supreme… <a href="https://t.co/cnby3pD2vd">https://t.co/cnby3pD2vd</a>
&mdash; Cathie Wood (@CathieDWood) <a href="https://twitter.com/CathieDWood/status/1863742043362824674?ref_src=twsrc%5Etfw">December 3, 2024</a></blockquote>
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&#8220;This ruling, if not overturned, means that judges and plaintiffs&#8217; lawyers run Delaware companies rather than their rightful owners – the shareholders,&#8221; Tesla&#8217;s official account posted on X, formerly Twitter, announcing plans to appeal the decision.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">A Delaware judge just overruled a supermajority of shareholders who own Tesla and who voted twice to pay <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> what he's worth.  The court's decision is wrong, and we're going to appeal. This ruling, if not overturned, means that judges and plaintiffs' lawyers run Delaware…
&mdash; Tesla (@Tesla) <a href="https://twitter.com/Tesla/status/1863730393930735634?ref_src=twsrc%5Etfw">December 2, 2024</a></blockquote>
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The controversial ruling also drew criticism from influential tech figures. Y Combinator co-founder Paul Graham suggested this could end Delaware&#8217;s status as the default incorporation state for startups, while Sequoia partner Shaun Maguire highlighted the $345 million in attorney fees awarded to the plaintiffs&#8217; lawyers, contrasting it with the blocked compensation package.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It used to be automatic for startups to incorporate in Delaware. That will stop being the case if activist judges start overruling shareholders. <a href="https://t.co/Z5cb1wn8tN">https://t.co/Z5cb1wn8tN</a>
&mdash; Paul Graham (@paulg) <a href="https://twitter.com/paulg/status/1863737832818479385?ref_src=twsrc%5Etfw">December 3, 2024</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">A Delaware Judge just blocked Elon's ~$56B Tesla pay package And simultaneously awarded $345m in compensation to the LAWYERS who sued to block the original pay package I recommend all future companies to incorporate outside of Delaware <a href="https://t.co/oSEbuI98Ho">pic.twitter.com/oSEbuI98Ho</a>
&mdash; Shaun Maguire (@shaunmmaguire) <a href="https://twitter.com/shaunmmaguire/status/1863716730281119932?ref_src=twsrc%5Etfw">December 2, 2024</a></blockquote>
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Future Fund LLC Managing Partner Gary Black expressed confidence in Tesla&#8217;s grounds for appeal, citing the two shareholder votes supporting Musk&#8217;s compensation plan. &#8220;The DE Supreme Court has a reputation for being moderate and pragmatic,&#8221; Black noted, suggesting limited market impact due to the expected nature of the decision.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This decision was expected so I doubt we'll see too much reaction tomorrow. We've been saying this would happen for months &#8211; see my pinned tweet. <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> has strong grounds for getting McCormick's decision overturned on appeal &#8211; namely two shareholder votes, one in 2018 and one in… <a href="https://t.co/b7mYGWwoHB">pic.twitter.com/b7mYGWwoHB</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1863736185090191494?ref_src=twsrc%5Etfw">December 3, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42276232/bank-of-america-eyes-sp-500-at-6666-in-2025-we-are-expecting-another-good-year-for-equities">S&amp;P 500 At 6,666 In 2025? Bank Of America Predicts &#8216;Another Good Year For Equities&#8217;</a>
Why It Matters: McCormick&#8217;s ruling cited &#8220;fatal flaws&#8221; in Tesla&#8217;s defense, including issues with post-trial evidence and proxy statement misstatements. The judge maintained that the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42279851/elon-musk-56b-pay-package-rejected-by-judge-again-tesla-analyst-says-a-soap-opera-playing-out-in-delaware">board was influenced by Musk</a> when adopting the original 2018 plan, which included ambitious milestones that Tesla ultimately achieved.
The compensation package, the largest ever for a U.S. corporate executive, would be worth over $100 billion at current share prices. While Musk remains the world&#8217;s richest person with an estimated net worth of $343 billion, the ongoing legal battle creates uncertainty for Tesla investors and raises broader questions about shareholder rights versus judicial <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42279851/elon-musk-56b-pay-package-rejected-by-judge-again-tesla-analyst-says-a-soap-opera-playing-out-in-delaware">oversight in corporate governance</a>.
Price Action: Tesla&#8217;s stock closed at $357.09 on Monday, gaining 3.46% for the day. In after-hours trading, the stock dipped 1.23%. Year-to-date, Tesla shares have surged 43.74%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
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</ul>
Image Via Pixabay
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Cathie Wood Slams Delaware Judge As 'Activist' Over Elon Musk's $56B Pay Plan Block, Tesla Warns Of Shareholder Rights Crisis Amid Appeal

U.S. markets saw mixed results on Monday: the Dow Jones Industrial Average slipped 0.3% to 44,782, the S&amp;P 500 edged up 0.2% to 6,047.15, and the Nasdaq climbed nearly 1% to close at 19,403.95.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Intel Corporation
Intel&#8217;s stock dipped 0.50% to close at $23.93, with an intraday high of $25.48 and a low of $23.44. The stock&#8217;s 52-week range is between $51.28 and $18.51. Intel&#8217;s CEO, Pat Gelsinger, announced his retirement, reportedly under pressure from the board due to dissatisfaction with the company&#8217;s progress. Intel has <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42275410/intel-ceo-pat-gelsinger-forced-out-by-board-analysts-cheer-potential-strategy-shift-this-move-opens-the-door">appointed</a> David Zinsner and Michelle Johnston Holthaus as interim co-CEOs during the search for a new leader.
CleanSpark Inc.
CleanSpark shares rose by 1.18%, closing at $14.52. The stock reached an intraday high of $15.4 and a low of $14.11, with a 52-week high of $24.72 and a low of $6.41. The company reported its fiscal year 2024 earnings, showing a revenue increase of 125% year-over-year. Despite missing analysts&#8217; estimates, CleanSpark <a href="https://www.benzinga.com/news/earnings/24/12/42278398/bitcoin-miner-cleanspark-reports-fy24-earnings-shares-climb">ended the quarter</a> with 8,049 Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and $122.2 million in cash. CleanSpark continues to focus on its Bitcoin mining operations.
Super Micro Computer Inc.
Super Micro Computer&#8217;s stock surged by 28.68%, closing at $42. The stock hit an intraday high of $44.15 and a low of $35.32, with a 52-week range from $122.90 to $17.25. The rise followed the <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42268387/super-micro-computer-stock-is-surging-today-whats-behind-the-move">completion of a review</a> by an independent special committee, which found no basis for the concerns raised by the company&#8217;s former auditor. Super Micro reassured investors about its governance and transparency.
Upstart Holdings Inc.
Upstart&#8217;s stock fell 14.47% to $67.39, with an intraday high of $75.50 and a low of $66.88. The stock&#8217;s 52-week high is $86.07, and the low is $20.60. Analysts <a href="https://www.benzinga.com/24/12/42272073/sofi-tech-could-become-american-express-of-fintech-analyst-says">express caution</a> about fintech lenders, suggesting better entry points post-earnings. Upstart faces challenges amid changing market conditions and investor sentiment.
Tesla Inc.
Tesla&#8217;s stock gained 3.46%, closing at $357.09. The stock reached an intraday high of $360 and a low of $351.15, with a 52-week range of $361.92 to $138.8. A Delaware judge <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42279851/elon-musk-56b-pay-package-rejected-by-judge-again-tesla-analyst-says-a-soap-opera-playing-out-in-delaware">rejected</a> Tesla CEO Elon Musk&#8217;s $56 billion pay package from 2018, despite shareholder approval. The compensation plan included challenging milestones for Musk to achieve. Tesla continues to navigate legal and financial hurdles.
Prepare for the day&#8217;s trading&nbsp;<a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a>&nbsp;by Benzinga.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

CLSK

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Intel, Cleanspark, Super Micro Computer, Upstart, Tesla: Why These 5 Stocks Are On Investors' Radars Today

A Delaware judge has once again struck down a compensation plan for Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk from 2018, news that comes six months after Tesla shareholders approved the pay package for<a href="https://www.benzinga.com/news/24/06/39323339/tesla-shareholders-approve-elon-musk-56b-pay-package-other-company-proposals"> a second time.</a>
 What Happened: A <a href="https://www.benzinga.com/news/24/06/39537125/elon-musks-tesla-pay-package-saga-continues-latest-developments">2018 pay compensation plan</a> provided several milestones that seemed extremely hard for Musk and Tesla to hit, with high payouts if he could accomplish the improbable.
Musk hit the milestone accomplishments from the 2018 incentive plan which led to options paid out worth around $56 billion, as reported by <a href="https://news.bloomberglaw.com/us-law-week/musk-record-tesla-pay-package-rejected-again-by-delaware-judge">Bloomberg</a>.
Delaware Chancery Court Judge Kathaleen McCormick ruled in January that the pay package would be voided due to Tesla's board being influenced by Musk when they adopted the plan. A lawsuit against the plan was previously brought forth by a Tesla shareholder.
McCormick ruled once again against the pay package Monday, despite shareholders approving the compensation plan again in a vote announced in June. An overwhelming majority of 77% of votes cast were in favor of the pay package for Musk, the company previously revealed.
The judge <a href="https://courts.delaware.gov/Opinions/Download.aspx?id=372420">said </a>the defendants failed to prove "entire fairness" in the case.
"The defendants responded by putting the rescinded compensation plan — the exact same plan that the post-trial opinion deemed a breach of the duty of loyalty — to a stockholder vote for the stated purpose of ‘ratifying' it," McCormick writes.
McCormick denied the motion to revise and said the defendants' argument goes against settled law and there are at least "four fatal flaws" in their argument. The judge said there was evidence created after trial, common-law ratification can't be raised for the first time after the post-trial opinion, a shareholder vote cannot ratify a transaction and misstatements in the shareholder vote proxy statement were all fatal flaws.
"Each of these defects standing alone defeats the motion to revise."
The judge also ruled in favor of the plaintiffs for attorney fees in the amount of $345 million, which was less than the $5.6 billion being asked. The fee can be paid via cash or Tesla stock the ruling said.
The judge's ruling will likely be appealed, which could continue to be an overhang on Tesla stock in the coming months.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/10/41501607/tesla-q3-earnings-highlights-eps-beat-revenue-miss-shares-climb-on-2025-timeline-for-lower-cost-evs">Tesla Q3 Earnings Highlights: EPS Beat, Revenue Miss, Shares Climb On 2025 Timeline For Lower-Cost EVs</a>
Why It's Important: Musk is the world's richest person, worth an estimated $343 billion and up $113 billion in 2024 as reported by <a href="https://www.bloomberg.com/billionaires/?sref=TBDibEcD">Bloomberg</a>.
Musk's wealth recently hit an all-time high with Tesla stock soaring and increased valuations for other Musk-related companies gaining after the 2024 election win by his friend Donald Trump.
The pay package is the largest for a U.S. corporate executive and the Tesla shares would be worth over $100 billion now, based on the current share price.
Without the payout, Musk will likely remain the world's richest person, but the news could take a cut out of his wealth.
Wedbush analyst Daniel Ives <a href="https://x.com/DivesTech/status/1863710814651195505">said </a>the pay package being rejected was not a surprise.
"We expect the Musk $56 billion pay package now goes to appeal in Delaware courts and eventually could go the Federal appeals process depending on next steps," Ives tweeted. "This continues to be a soap opera playing out in Delaware."
TSLA Price Action: Tesla stock is down 1.35% to $352.26 in after-hours trading Monday after gaining a little over 3% earlier in the trading session. Tesla stock has traded between $138.80 and $361.92 over the last 52 weeks and is up 43.7% year-to-date in 2024.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/06/39324085/elon-musk-thanks-shareholders-says-tesla-starting-a-new-book-could-hit-30-trillion-valuation-hot-d-i">Elon Musk Thanks Shareholders, Says Tesla &#8216;Starting A New Book,&#8217; Could Hit $30 Trillion Valuation: &#8220;Hot D&#x2A;&#x2A;&#x2A;, I Love You Guys&#8217;</a></li>
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Photo: Shutterstock

Management

Elon Musk $56B Pay Package Rejected By Judge Again: Tesla Analyst Says 'Soap Opera Playing Out In Delaware'

One of the most anticipated vehicle launches of all time happened on Nov. 30, 2023 with Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) delivering its first Cybertruck vehicles to a long waiting list of reservation holders of the highly anticipated<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/36032944/cybertruck-delivery-event-elon-musk-highlights-teslas-best-product-says-finally-the"> electric pickup truck.</a>
Here's a look back at the company's unveiling of the truck and how much investors could have made timing their stock purchase.
What Happened: Tesla recently shared a look back at what the company accomplished in <a href="https://www.benzinga.com/24/12/42262279/a-year-after-teslas-first-cybertruck-deliveries-the-truck-has-a-long-way-to-go-to-meet-musks-goals">its first year</a> with the Cybertruck on the market.
"1 year since we launched the truck that ‘they'd never actually make,'" Tesla <a href="https://x.com/cybertruck/status/1862987583141142936?t=1NyPunb3h46OS_CE8vY56Q&amp;s=19">tweeted</a>.
Tesla shared that since the launch, the Cybertruck has had multiple highlights, including achieving a positive gross margin in less than a year and starting deliveries in Canada.
Other highlights shared in the X thread are the Cybertruck driving and parking itself, having Powershare, testing the bulletproof abilities, beating a Porsche 911 while towing a 911 and winning over diesel truck owners.
The Nov. 30, 2023 delivery event was a long time coming for Tesla and fans of the company.
Tesla CEO&nbsp;Elon Musk&nbsp;<a href="https://www.benzinga.com/news/23/11/35891943/from-shattered-window-to-production-line-tesla-cybertruck-was-unveiled-four-years-ago-today" target="_blank" rel="noreferrer noopener">unveiled</a>&nbsp;the Cybertruck at a public event on Nov. 22, 2019.
Originally set for a 2021 launch, the vehicle suffered several delays and setbacks before its eventual 2023 launch. The film &#8220;Blade Runner&#8221; and <a href="https://www.benzinga.com/general/entertainment/23/04/32100580/elon-musk-owns-an-iconic-1m-james-bond-movie-car-the-crazy-story-of-couple-who-bought-it-fo" target="_blank" rel="noreferrer noopener">the James Bond vehicle from</a> &#8220;The Spy Who Loved Me&#8221; inspired the design.
The vehicle&#8217;s unique design and fans of Tesla and Musk have led to strong demand. A week after the unveiling, Tesla <a href="https://www.benzinga.com/news/23/08/33995360/how-many-cybertruck-reservations-are-there-tesla-fans-predict-a-staggering-total-ahead-of-launch" target="_blank" rel="noopener">reported 250,000 reservations, </a>via a $100 deposit. In recent comments, Tesla has said there are over one million reservations for the vehicle. Third-party estimates put the estimate closer to two million units reserved.
With the Cybertruck, Tesla added another vehicle class to compete with&nbsp;Ford Motor Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>),&nbsp;General Motors Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>).
In the U.S., trucks <a href="https://www.benzinga.com/news/23/01/30337806/tesla-had-a-top-10-selling-vehicle-in-the-us-for-2022-what-it-means-and-whats-next-for-2023" target="_blank" rel="noreferrer noopener">remain top sellers</a>. In 2022, five of the top 10 bestselling vehicles were pickup trucks, including the top three vehicles.
Pop culture references, like when the vehicle appeared <a href="https://www.benzinga.com/general/entertainment/22/10/29491435/tesla-cybertruck-featured-on-the-simpsons-episode-ahead-of-the-evs-2023-release" target="_blank" rel="noreferrer noopener">on an episode</a> of &#8220;The Simpsons,&#8221; sparked interest. Podcast host Joe Rogan has also <a href="https://www.benzinga.com/general/entertainment/23/11/36004998/joe-rogan-tops-spotifys-2023-podcasts-list-once-again-deal-likely-to-expire-in-2024-a-major" target="_blank" rel="noreferrer noopener">discussed the vehicle</a> and praised its unique design during several of his interviews.
Tesla has estimated it will sell 250,000 Cybertruck units annually by 2025. Musk has tried to downplay early expectations for the highly anticipated vehicle&#8217;s deliveries.
&#8220;I always try to downplay the start of production because the start of production is always very slow. It increases exponentially, but it&#8217;s always very slow at first. So I wouldn&#8217;t put too much thought into the start of production. It&#8217;s kind of when volume production happens, and that&#8217;s next year,&#8221; Musk&nbsp;<a href="https://www.benzinga.com/news/23/01/30595045/are-cybertruck-expectations-too-high-in-2023-musk-says-i-wouldnt-put-too-much-thought-in-start-of-pr" target="_blank" rel="noreferrer noopener">said during an earnings call.</a>
Investors and analysts see the Cybertruck as a big catalyst, which could mean more upside for Tesla shares. If you purchased shares when the Cybertruck was first unveiled, you have already been rewarded.
Are you buying when the CEOs of the Magnificent 7 are selling?
<ul>
<li>Stay in the know with our Insider Trades page — <a href="https://www.benzinga.com/sec/insider-trades/">see when leaders like Mark Zuckerberg, Elon Musk, and Jensen Huang are offloading their own shares.</a></li>
</ul>
Investing $1,000 in Tesla Stock:&nbsp;A $1,000 investment could have purchased 2.94 shares of TSLA at the opening print on Nov. 22, 2019.
Tesla underwent stock splits of five-for-one in 2020 and three-for-one in 2022. The splits would take the 2.94 shares to 44.1 total Tesla shares.
The $1,000 investment would be worth $15,747.67 today, based on a Tesla price of $357.09 at the time of writing. It would be up 1,474.8% over the last five years.
The same $1,000 invested in the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the top 500 U.S. stocks, wouldn&#8217;t have fared as well. The $1,000 investment in the SPY would be worth $1,937.65 today. This represents a return of 93.8% over the last five years, significantly trailing the performance of Tesla over the same period.
Investors who passed up the opportunity to buy Tesla stock when the Cybertruck was first unveiled may have considered buying the stock last November when deliveries took place. An investor could have bought 4.08 Tesla shares with $1,000 based on a price of $245.22 on Nov. 30, 2023.
The $1,000 investment would be worth $1,456.93 today, up 45.7%.
The same $1,000 invested in the SPY on Nov. 30, 2023, would be worth $1,321.95 today, up 32.2%.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/23/12/36104426/elon-musk-wanted-to-make-a-vehicle-for-the-future-one-that-blade-runner-would-drive">Elon Musk Wanted To Make A Vehicle For The Future, One That Blade Runner Would Drive</a></li>
</ul>
This article was previously published by Benzinga and has been updated.
Image created using artificial intelligence via Midjourney.

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