Investor's Corner
Over 5.8k Tesla investors representing $4.1 billion are speaking out in support of Elon Musk
Thousands of retail Tesla (NASDAQ:TSLA) investors have banded together to express their support of CEO Elon Musk’s and his 2018 compensation plan, which was rescinded by a Delaware judge last week. The judge’s decision, which concluded a legal complaint started by a thrash metal drummer with nine Tesla shares, was met with polarizing reactions.
The Tesla investors’ goal was simple. They wanted to specifically affirm their vote of support for Musk’s 2018 compensation plan, whose targets have already been met, and they also requested that the Tesla Board of Directors design a new compensation plan for Musk that could take him back to 25% of the EV maker’s voting shares. The group also expressed their support to the idea of Tesla moving its state of incorporation from Delaware to Texas.
The initiative was admirable. What started as a collaborative effort on social media led by accounts such as Alexandra Merz (@TeslaBoomerMama) and Amy Steffens (@_sftahoe) ballooned to 5,821 Tesla shareholders representing 23,337,127 shares signing a letter addressed to the Tesla Board of Directors in just four days. The Tesla investors’ accumulated shares are substantial, as it corresponds to over $4 billion worth of shares as of Monday’s intraday.
?
Have never heard of a company able to mobilize
– in only 4 short days (including a weekend)
the commitment of
– 5,821 shareholders with
– 23,337,127 shares.
Retail investors showing their deep appreciation of @elonmusk and @Tesla's Board of Directors.
Now Austin bound. pic.twitter.com/s9Nr36Yn5m— Ale?andra Merz (@TeslaBoomerMama) February 5, 2024
The Tesla shareholders’ letter can be viewed below.
Shareholder Letter to Tesla’s Board of Directors
The shareholders (listed in the attachment)
- Support unequivocally that Tesla’s state of incorporation is changed from Delaware to Texas, where Tesla is already headquartered. Tesla staying incorporated in Delaware is untenable if Shareholder Votes will be rescinded.
- Would like the Board to explore options to affirm the shareholder vote in support of keeping the Tesla’s 2018 CEO Compensation Plan active and in place. Tesla shareholders don’t want their votes disenfranchised. Tesla shareholders elected the Tesla Board of Directors and were aware of the Board members’ relationship with Elon Musk. The shareholders chose them. The recent decision by Judge McCormick to rescind the 2018 CEO compensation plan is a dangerous precedent for all shareholders in American corporations.
- Would like the Board to design a new CEO Compensation Plan along the lines of the 2018 Plan. The new Plan tranches will require Tesla to achieve ambitious performance and market cap milestones.
- The performance milestones could include FSD reaching level 5 autonomy, Tesla Energy achieving annual kWh goals, the next generation EV platform reaching volume production, and Optimus in volume production. The market capitalization milestones could reflect each $500 billion- or $1 trillion-dollar increase in Tesla’s overall value, or whatever intermediate milestones make sense, as well as one for surpassing the combined value of Saudi Aramco and Apple. The new Plan’s tranches will vest shares to Mr. Musk in such a way as to ultimately grant him 25+ percent of voting shares. If Tesla incorporates in a State allowing super voting shares, we endorse this, too.
The shareholders filling out this form agree that their name and details will be disclosed to the Board of Directors of Tesla and may become public.
TESLA SHAREHOLDER LETTER:
?Final numbers! ?? over 5800 investors representing over 23,335,217 Million Shares. (Or 4.3 BILLION Dollars of shares at current market value).
?Letter is being mailed to Tesla Corporate Secretary. Final letter & Cover Letter and note re:… https://t.co/57KPRJIYSK pic.twitter.com/g3XQHjBHCK— Amy (@_SFTahoe) February 5, 2024
What is quite remarkable about the Tesla investors’ efforts is the fact that it included shareholders from across the spectrum. As per the group’s letter, the 5,821 Tesla shareholders comprise investors that hold anywhere from one TSLA share to thousands of TSLA shares. They also include investors who have been with the EV maker since 2010 and those who only bought shares last month. Overall, the retail investors’ efforts are quite admirable, and they show that Tesla still has a dedicated following among its shareholders until today.
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Investor's Corner
Tesla crushes Wall Street expectations, beats delivery estimates by over 15 percent
Tesla (NASDAQ: TSLA) beat Wall Street expectations of 406,000 vehicles delivered in Q2 by reporting 480,126 deliveries for the three months ending in June.
Tesla reported it delivered 467,762 Model 3 and Model Y units, while 12,364 Model S, Model X, and Cybertrucks switched hands during the quarter. The Model S and Model X were officially sunset this past quarter and will no longer be part of the company’s Production & Delivery reports moving forward.
🚨 BREAKING: Tesla delivered 480,126 vehicles in Q2, ANNIHILATING Wall Street expectations of 406,000. Production was reported at 451,758.
Deliveries:
Model 3/Y: 467,762
Other Models: 12,364Production:
Model 3/Y: 442,936
Other Models: 8,822 https://t.co/TTHwQAsKt8 pic.twitter.com/7qI4Zj6FE5— TESLARATI (@Teslarati) July 2, 2026
The quarter is a pleasant surprise and a good rebound from Q1, when Tesla slightly missed the Wall Street consensus of 365,645 cars by reporting 358,023 deliveries for the first three motnhs of the year.
Energy storage deployments also provided some strength in Tesla’s delivery report, hitting 13.5 GWh for Q2. This is a particular division of Tesla’s business that has been overwhelmingly robust over the past few years, truly being a strong point of the company’s overall model.
For the year, Tesla analysts still predict deliveries to trend in the 1.69 million unit region, a modest 3 to 5 percent increase from the 1.64 million cars the company delivered last year. Tesla will likely return to more sequential and noticeable year-over-year growth as the Cybercab project starts to ramp up considerably in the next few years.
Tesla has some other potential catalysts to spur vehicle deliveries, too. Not only is it expecting Cybercab to truly start making a change in the next few years, but other vehicles could be entering the company’s lineup.
Tesla sends production Cybercab with no steering wheel, pedals to on-road testing
The slightly longer Model Y L has been a highly speculated release candidate in the U.S. It has already done incredibly well in China, and U.S. buyers have been wanting slightly more interior space than the Model Y. Now that the Model X is gone, it is more needed than ever.
Q2 highlights a pretty stable automotive division within Tesla, and no true concerns arise from these figures, especially considering it managed to beat expectations convincingly.
Investor's Corner
Tesla gets its latest short from Michael Burry: ‘Happy it jumped back to this level’
Tesla short seller Michael Burry, the subject of the film “The Big Short,” where he was portrayed by Steve Carell, has revealed he has opened a new bet against the stock.
In a new update to his Substack newsletter in a post titled “Trading Post June 30, 2026,” Burry revealed a new set of bets against Tesla, Caterpillar, NVIDIA, Applied Materials Inc., and the iShares Semiconductor ETF.
In regard to Tesla, Burry wrote:
“And finally I shorted Tesla at 416.22. Happy it jumped back to this level.”
This means Burry likely opened his new short position after the company’s recent rally on Wall Street, which saw Tesla shares sink in mid-May, only to recover to well over the $400 mark. Currently, shares trade at around $427.
The company saw a big Tuesday as shares climbed considerably, over 10 percent. The size of the Tesla short was not provided, nor did Burry give any information on the position’s structure, the number of shares, dollar value, or whether options were used in the short.
The Tesla and SpaceX merger everyone is talking about is quietly building
Over the years, Burry has been one of the more vocal critics of Tesla, calling its share price “media inflated,” and saying it was “ridiculously overvalued” as recently as December.
The company has largely transitioned away from being known as an automotive company and instead is much more widely regarded as an AI play, mostly due to its Full Self-Driving efforts, Optimus robot development, and data collection related to both.
This has not pulled those skeptics away from being vocal about their distaste for how Tesla is valued, but there’s no denying that the company is a global force in many things, including sustainable energy, automotive, and AI.
Wedbush Securities is initiating stock coverage on SpaceX (NASDAQ: SPCX), marking the first comments on the company since it went public several weeks ago. Wedbush and its analyst handling coverage, Dan Ives, are widely bullish on fellow Musk company Tesla (NASDAQ: TSLA).
Ives wrote his first note initiating coverage of SpaceX shares on Wednesday with a $190 price target and an ‘Outperform’ rating. The firm believes the company is well positioned off of its IPO because of its wide array of projects, including AI compute power and infrastructure, connectivity projects, and launches.
“We view SpaceX as one of the most differentiated assets within the tech market with a strong footprint across its three core markets, with Starlink driving success with connectivity,” Ives wrote, “Starship launches leading to a demand flywheel and increasing deal flow for its Colossus clusters.”
Elon Musk called it Epic: The full story of SpaceX’s Starship Flight 12
Wedbush leans heavily on Starlink, which they say is the “profitability driver given the strength of its recurring revenue base of ~12 million subscribers as of June 5th.” Ives believes Starlink is still in the “early innings” of penetrating the global telecommunications and broadband market, as it only holds less than a 1 percent share. However, this number is sure to increase over time.
It also highlights the importance of Starship, which it says is an “essential layer” of SpaceX’s overall success. SpaceX developing and displaying the ability to reuse rockets is a major cost and reliability advantage “as it reduces the necessary hardware launch costs while generating a feedback loop for future flights to improve their launch flight rate without accelerating capex spend.”
Finally, SpaceX’s recent AI/Compute projects are also very elementary, Ives writes. It is worth mentioning Wedbush said its $190 price target is derived from a valuation forecast that sees the company yielding roughly $2.48 trillion of implied enterprise value.
There are also some factors that Wedbush did not take into account with its initial coverage. The firm wrote in the note:
“We note that there is optional value coming from Starship’s accelerating scale towards sub-$200/kg unit economics, orbital data centers, and enterprise AI monetization as these factors could drive meaningful upside but these face major hurdles, so we do not take that into account with our valuation.”
SpaceX shares are down just over 2 percent today, trading at around $167 at the time of publication.
Tesla brings Model Y L ‘Launch Series’ to the U.S. at $61,990
Tesla just told us twice that Model Y L is coming to the U.S.
