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Tesla continues to fall in pre-market after judge rejects CEO Musk's $56B compensation package

Published 2024-01-31, 09:08 a/m
© Reuters.

Shares of Tesla (NASDAQ:TSLA) are trending down almost 3% in pre-market trading Wednesday morning as the market continues to process the news out of Delaware where a judge ruled to void Elon Musk's $56B pay package.

A Delaware judge supported investor plaintiffs who contested Musk's compensation plan.

"The plaintiff is entitled to rescission," the judge said in her ruling, and directed parties to confer on a final form of order to execute her decision.

Analysts posted on Elon Musk’s social media platform “X”, “The Tesla Delaware ruling against @elonmusk is a shocker but we see the Board fighting back hard and this is just the beginning of this battle”

Shares of TSLA are down 2.73% in pre-market trading Wednesday morning.

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