Uninterrupted Tesla Surge - Musk shells out a staggering $1 billion on acquisitions
Tesla Stock Surges: Musk's Recent Purchase and Nevada's Robotaxi Approval Fuel Optimism
Tesla's stock has seen a significant surge in the past few days, with the market reacting positively to Elon Musk's recent purchase of approximately 2.57 million shares worth around $1 billion, and the approval for test drives of robotaxis in Nevada.
In a Bloomberg interview, Tesla Chair Robyn Denholm defended Musk's compensation package, stating that he is 'the leader of an entire generation.' She believes that no other person could lead Tesla into the next decade like Elon Musk, a sentiment shared by the market, as a significant portion of Tesla's valuation is based on investors' belief in Musk and his ability to bring the robotaxi to the streets.
Musk's purchase, his first on the capital market since February 2020, is interpreted by the market as a clear commitment to Tesla's future. This commitment is crucial, as long-term oriented investors remain on the sidelines for Tesla due to the need for significant progress in the robotaxi sector.
However, the competition, such as Waymo, is already further along in the development of robotaxis compared to Tesla. This competitive landscape adds an element of uncertainty to Tesla's future, which investors will be closely monitoring.
The compensation package for Musk, worth up to $1 trillion, is contingent upon meeting ambitious targets, including selling 20 million electric vehicles and expanding the robotaxi and robotics business. Shareholder approval for this package is scheduled for November.
As of the article's publication, Tesla stock had gained around 14 percent in two days and was experiencing a preliminary gain of around eight percent on Monday. The latest trade of the AKTIONÄR (Tesla) gained over 100 percent in just three trading days, reflecting the market's optimism about Tesla's future.
It is worth noting that the management and majority shareholder of the publisher Börsenmedien AG, Mr. Bernd Förtsch, has entered positions in the financial instruments of Tesla or related derivatives, which could benefit from the price development resulting from the publication.
The other person described by Tesla’s board as important for Tesla’s future alongside Elon Musk is not named explicitly in the provided search results. The identity of this individual adds another layer of intrigue to Tesla's future, as the company continues to push the boundaries of innovation in the automotive industry.
