Musk Receives Vote of Confidence, Ford Plans for ICE Growth, Escalade EV Announced (05.22.23)
Tesla Daily: Tesla News & Analysis
Rob Maurer
4.8 • 1.1K Ratings
🗓️ 23 May 2023
⏱️ 16 minutes
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Summary
➤ Musk performs well in shareholder vote, favorable in Harris poll
➤ Tesla adds commission pay structure in Europe
➤ New BYD battery charge performance
➤ Ford discusses ICE, EV plans in capital markets day
➤ GM announces plans for all-electric Cadillac Escalade
➤ Cruise hits milestone
➤ SpaceX completes crewed launch
➤ The Boring Company update
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Disclosure: Rob Maurer is long TSLA stock & derivatives
Transcript
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| 0:00.0 | Hey everybody Rob Man, we're here. Welcome back to Tesla Daily. Today we are going to be |
| 0:10.8 | talking about the result of the vote from Tesla's shareholder meeting. We also have a very |
| 0:14.4 | interesting Harris poll relating to Elon Musk, a number of updates from Ford from their |
| 0:18.4 | capital markets day and a few other items as well. Alright, looking at the stock, another |
| 0:22.9 | really nice day for Tesla today, up about 4.9% to close at $188.87, and as deck up just |
| 0:29.1 | half a percent on the day, so nice outperformance for Tesla on the day, and we are now up about 14% |
| 0:34.6 | since Tesla's shareholder meeting. So the nice run for Tesla continues, and hopefully that |
| 0:39.2 | will carry through the rest of this week. Alright, getting into the updates from the shareholder |
| 0:44.1 | meeting, Tesla today filed an 8K to disclose the results of the votes on the proposals from |
| 0:49.1 | the shareholder meeting. We can see here those results. A little bit difficult to understand |
| 0:53.6 | those in this format though, so I have gone ahead and put those in percentage formats. |
| 0:58.1 | As we can see here, so obviously of most consequence would be the vote on board members, and we |
| 1:03.5 | can see the results here. We already knew JB was elected to the board, but Robin has been |
| 1:07.6 | reelected as the chairman, chairperson of the board, Elon Musk also reelected the board. |
| 1:13.6 | So I have two breakdowns of the votes here. You can see that for many of these, there are |
| 1:16.8 | a number of non votes, about 22%. So on the left, we have those included in the percentages, |
| 1:22.0 | on the right, those are excluded from each of these percentages. So for Elon Musk, for those |
| 1:26.6 | that did vote, he received a 95% 4 vote in terms of being reelected to the board, versus |
| 1:34.1 | just 5% against. So a lot of confidence they're shown in Elon, despite tumultuous and volatile |
| 1:40.6 | period of time here since the last shareholder meeting. But I think good to see that support |
| 1:45.1 | from shareholders of Elon, obviously he received a pretty warm welcome at the shareholder meeting. |
| 1:49.9 | So not terribly surprising, but I think if people had to guess what this percent would be, |
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