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Tesla stock still feeling positive effects from Musk pay package

Russell Shor Written by Russell Shor
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Tesla stock surged yesterday, outpacing the Nasdaq Composite with a 5.3% rise to $187.44, while the S&P 500 and Nasdaq gained 0.8% and 1%, respectively. The main catalyst was the re-approval of CEO Elon Musk's 2018 pay package, which grants him 300 million stock options. This revote was necessary after a court ruling invalidated the original approval due to disclosure issues. Announced on Musk's social-media platform X, the renewed approval received about 72% support.

Analysts believe this resolution could lift Tesla's stock to around $200, a significant resistance level. Breaking this level could indicate positive momentum. Key upcoming events include the second-quarter delivery report in early July, with expectations of 450,000 deliveries, and the August 8 robotaxi unveiling, which will feature a new vehicle and updates on autonomous-driving software. These factors, along with potential market-moving announcements from Musk, will be crucial for Tesla's stock in the coming weeks.

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Russell Shor

Senior Market Strategist

Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.

Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.

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