https://bsky.app/profile/schooley.bsky.social/post/3lkwgcqqo...
https://abcnews.go.com/Business/tesla-board-members-executiv...
The 2nd time it got denied by a Judge because he had improper influence over the board, the main argument was that Musk would leave and do Ai at his other AI company (!) and the stockholders didn't care as long as the stock was up.
Then it went up even higher based on potential looting of the US state, but now it's going down.
Seems like the lack of board control over him has also been fairly well demonstrated by recent events.
The stock is overvalued and disconnected from Tesla's performance as a business. Musk went out of his way to create brand damage for Tesla and the brand is now toxic.
How much time does Musk spend at Tesla these days? Tesla employees have been calling him a "pigeon CEO" for a year now:
https://electrek.co/2024/04/22/elon-musk-pigeon-ceo-former-t...
On the other hand - Wall Street, in aggregate, held around 56.62% of the total Tesla float (float comprises of shares available for trading, i.e. discounting closely held insider holdings, and restricted stock)
And Wall Street generally focuses on results... That's where the stampede has been coming from, and probably will be where it continues once the next quarterly numbers get released, what with the implosion of international demand and competitive marketplace continuing to eat away at Tesla's market share. Tesla even now still trades at a 122 P/E ratio. GE is at 33, Ford is at 6. Gravity will do the rest.