The breathless surge in Tesla shares raised expectations that CEO Elon Musk would soon hit the first tranche of a jaw-dropping pay package worth at least $55 billion over a decade
But Tesla’s surge that pushed its market cap to $100 billion for the first time on Jan. 22 kept going for more than 30 days. Retaining that level for both 30 days and six-months is looking harder to predict. Currently, Tesla’s six-month trailing valuation is $79.2 billion, from Sept. 9 through March 9. U.S. markets were hit particularly hard on March 9, with the Dow Jones Industrial Average down 7.8%, the S&P 500 off 7.6% and the Nasdaq Composite falling 7.3%.
Since closing at a record $917.42 on Feb. 19, which inflated Tesla’s market cap to $168.8 billion, the stock has plunged 34% to $608 on March 9, cutting its valuation to $108.9 billion. If the current level holds for another six weeks, Musk could see his first payout by the end of April. The 1.69 million shares in the first award have an exercise price of $350.02 each, so if Tesla shares were still at the $608 level, the award’s net value for him would be about $435 million.
Musk hasn’t commented directly on either his pay package or stock drop recently, though he lashed out at coronavirus “panic” late last week, telling his 32 million Twitter followers on March 6 “the coronavirus panic is dumb.” That drew a rebuke from former options trader and risk analyst Nassim Nicholas Taleb, best known for his bookAside from his potential disappointment of a delayed stock payout, the often
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