Reported 7 months ago
Tesla shareholders have approved Elon Musk's $56 billion pay package at Tesla's annual general meeting, demonstrating support for his leadership. Despite this, Tesla's stock has experienced a 27% decline this year and faces immense competition in China. Musk's announcement of more affordable new models in 2025 provided a boost to Tesla's shares, but analysts have lowered their price targets significantly. Tesla's stock is trading at a high valuation compared to other automakers, with a price-to-earnings ratio of 61, showcasing the challenges the company faces despite its high market value.
Source: YAHOO