

Investor's Corner
Tesla shareholders report receiving 2024 Annual Stockholders’ Meeting invites
It appears that Tesla has started sending out invites to the 2024 Annual Stockholders’ Meeting. As could be seen in images of the invite that have been shared online, Tesla seems to be dubbing the event the 2024 Cyber Roundup.
The invite to the upcoming 2024 Annual Shareholder Meeting is very straightforward, with the electric vehicle maker simply advising recipients to RSVP within 48 hours of the invitation’s receipt. The invitation also indicates that the 2024 Cyber Roundup will be held at Giga Texas, 1 Test Road, Austin, Texas, on June 13, 2024.
NEWS: Tesla has started sending out invites to their 2024 annual shareholder meeting at Giga Texas. pic.twitter.com/IVISLXtFr4— Sawyer Merritt (@SawyerMerritt) May 31, 2024
The 2024 Annual Shareholder Meeting promises to be a pivotal event for the company, primarily because of Proposals Three and Four, which deal with Tesla’s proposed reincorporation from Delaware to Texas, as well as the ratification of Elon Musk’s 2018 CEO Performance Award, which was rescinded by a Delaware judge back in January 2024. Tesla has so far been putting a lot of effort into encouraging shareholders to vote for its proposals.
While invites for the 2024 Cyber Roundup are already being sent out, those who are looking to secure a slot in the special Giga Texas tour on June 12, 2024 are poised to wait some more. As per Tesla, the company will be choosing 15 TSLA stockholders who would be given an invitation to tour Giga Texas’s Model Y and Cybertruck production lines on the eve of the 2024 Annual Shareholder Meeting.
Thank you @Tesla see you there! ? https://t.co/hgvRXusuU1 pic.twitter.com/EUuiUuPgpu— Jeff Lutz ? (@thejefflutz) May 31, 2024
The tour will be quite special as guests will be guided through the factory by CEO Elon Musk and Design Chief Franz von Holzhausen. The deadline for TSLA stockholders to submit their proof of voting is Friday, June 7, 2024, at 11:59 p.m. CT. Winners are expected to be announced before the date of the special Giga Texas tour.
Based on an investor survey, Morgan Stanley analyst Adam Jonas noted that Tesla’s proposal to ratify Elon Musk’s 2018 compensation plan might be approved by shareholders. “The majority of respondents (57%) expect Elon’s compensation package to be approved, outnumbering respondents who do not expect approval (23%) by more than 2:1. If Elon’s comp package is approved, majority (68%) expect Tesla stock price to react positively over the next three trading days (24% expect TSLA shares up 6-10%+, 44% expect TSLA shares up 3-5%, outnumbering those who expect the stock to be down upon approval by almost 6x,” the analyst wrote.
Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.
Investor's Corner
Tesla gets $475 price target from Benchmark amid initial Robotaxi rollout
Tesla’s limited rollout of its Robotaxi service in Austin is already catching the eye of Wall Street.

Venture capital firm Benchmark recently reiterated its “Buy” rating and raised its price target on Tesla stock (NASDAQ: TSLA) from $350 to $475 per share, citing the company’s initial Robotaxi service deployment as a sign of future growth potential.
Benchmark analyst Mickey Legg praised the Robotaxi service pilot’s “controlled and safety-first approach,” adding that it could help Tesla earn the trust of regulators and the general public.
Confidence in camera-based autonomy
Legg reiterated Benchmark’s belief in Tesla’s vision-only approach to autonomous driving. “We are a believer in Tesla’s camera-focused approach that is not only cost effective but also scalable,” he noted.
The analyst contrasted Tesla’s simple setup with the more expensive hardware stacks used by competitors like Waymo, which use various sophisticated sensors that hike up costs, as noted in an Investing.com report. Compared to Tesla’s Model Y Robotaxis, Waymo’s self-driving cars are significantly more expensive.
He also pointed to upcoming Texas regulations set to take effect in September, suggesting they could help create a regulatory framework favorable to autonomous services in other cities.
“New regulations for autonomous vehicles are set to go into place on Sept. 1 in TX that we believe will further help win trust and pave the way for expansion to additional cities,” the analyst wrote.
Tesla as a robotics powerhouse
Beyond robotaxis, Legg sees Tesla evolving beyond its roots as an electric vehicle maker. He noted that Tesla’s humanoid robot, Optimus, could be a long-term growth driver alongside new vehicle programs and other future initiatives.
“In our view, the company is undergoing an evolution from a trailblazing vehicle OEM to a high-tech automation and robotics company with unmatched domestic manufacturing scale,” he wrote.
Benchmark noted that Tesla stock had rebounded over 50% from its April lows, driven in part by easing tariff concerns and growing momentum around autonomy. With its initial Robotaxi rollout now underway, the firm has returned to its previous $475 per share target and reaffirmed TSLA as a Benchmark Top Pick for 2025.
Elon Musk
Tesla blacklisted by Swedish pension fund AP7 as it sells entire stake
A Swedish pension fund is offloading its Tesla holdings for good.

Tesla shares have been blacklisted by the Swedish pension fund AP7, who said earlier today that it has “verified violations of labor rights in the United States” by the automaker.
The fund ended up selling its entire stake, which was worth around $1.36 billion when it liquidated its holdings in late May. Reuters first reported on AP7’s move.
Other pension and retirement funds have relinquished some of their Tesla holdings due to CEO Elon Musk’s involvement in politics, among other reasons, and although the company’s stock has been a great contributor to growth for many funds over the past decade, these managers are not willing to see past the CEO’s right to free speech.
However, AP7 says the move is related not to Musk’s involvement in government nor his political stances. Instead, the fund said it verified several labor rights violations in the U.S.:
“AP7 has decided to blacklist Tesla due to verified violations of labor rights in the United States. Despite several years of dialogue with Tesla, including shareholder proposals in collaboration with other investors, the company has not taken sufficient measures to address the issues.”
Tesla made up about 1 percent of the AP7 Equity Fund, according to a spokesperson. This equated to roughly 13 billion crowns, but the fund’s total assets were about 1,181 billion crowns at the end of May when the Tesla stake was sold off.
Tesla has had its share of labor lawsuits over the past few years, just as any large company deals with at some point or another. There have been claims of restrictions against labor union supporters, including one that Tesla was favored by judges, as they did not want pro-union clothing in the factory. Tesla argued that loose-fitting clothing presented a safety hazard, and the courts agreed.

(Photo: Tesla)
There have also been claims of racism at the Fremont Factory by a former elevator contractor named Owen Diaz. He was awarded a substantial sum of $137m. However, U.S. District Judge William Orrick ruled the $137 million award was excessive, reducing it to $15 million. Diaz rejected this sum.
Another jury awarded Diaz $3.2 million. Diaz’s legal team said this payout was inadequate. He and Tesla ultimately settled for an undisclosed amount.
AP7 did not list any of the current labor violations that it cited as its reason for
Investor's Corner
xAI targets $5 billion debt offering to fuel company goals
Elon Musk’s xAI is targeting a $5B debt raise, led by Morgan Stanley, to scale its artificial intelligence efforts.

xAI’s $5 billion debt offering, marketed by Morgan Stanley, underscores Elon Musk’s ambitious plans to expand the artificial intelligence venture. The xAI package comprises bonds and two loans, highlighting the company’s strategic push to fuel its artificial intelligence development.
Last week, Morgan Stanley began pitching a floating-rate term loan B at 97 cents on the dollar with a variable interest rate of 700 basis points over the SOFR benchmark, one source said. A second option offers a fixed-rate loan and bonds at 12%, with terms contingent on investor appetite. This “best efforts” transaction, where the debt size hinges on demand, reflects cautious lending in an uncertain economic climate.
According to Reuters sources, Morgan Stanley will not guarantee the issue volume or commit its own capital in the xAI deal, marking a shift from past commitments. The change in approach stems from lessons learned during Musk’s 2022 X acquisition when Morgan Stanley and six other banks held $13 billion in debt for over two years.
Morgan Stanley and the six other banks backing Musk’s X acquisition could only dispose of that debt earlier this year. They capitalized on X’s improved operating performance over the previous two quarters as traffic on the platform increased engagement around the U.S. presidential elections. This time, Morgan Stanley’s prudent strategy mitigates similar risks.
Beyond debt, xAI is in talks to raise $20 billion in equity, potentially valuing the company between $120 billion and $200 billion, sources said. In April, Musk hinted at a significant valuation adjustment for xAI, stating he was looking to put a “proper value” on xAI during an investor call.
As xAI pursues this $5 billion debt offering, its financial strategy positions it to lead the AI revolution, blending innovation with market opportunity.
-
News5 days ago
Tesla Robotaxi’s biggest challenge seems to be this one thing
-
News2 weeks ago
Tesla confirms massive hardware change for autonomy improvement
-
Elon Musk2 weeks ago
Elon Musk slams Bloomberg’s shocking xAI cash burn claims
-
News2 weeks ago
Tesla features used to flunk 16-year-old’s driver license test
-
News2 weeks ago
Texas lawmakers urge Tesla to delay Austin robotaxi launch to September
-
News2 weeks ago
Tesla China roars back with highest vehicle registrations this Q2 so far
-
News2 weeks ago
Tesla dominates Cars.com’s Made in America Index with clean sweep
-
News2 weeks ago
Tesla’s Grok integration will be more realistic with this cool feature