Tesla stock plummeted in mid-March with the rest of the stock market, but has since more than doubled. He will receive 1.69 million Tesla options from the company’s board, at an exercise price of $350.02 a share. The eccentric CEO tweeted on Friday that share price was “too high,” causing Tesla stock to drop 10.3%. Yet the remark did not impact Tesla’s share price enough to keep Musk from reaching the market cap targets. Last month, Tesla furloughed thousands of factory workers at its Fremont, California plant and executed across-the-board pay cuts for all employees.

Source: Forbes May 05, 2020 20:03 UTC