Date: Thursday, November 6, 2025
At a glance (intraday):
Price: $438.86 (-5.0%) as of 16:37 UTC (11:37 a.m. ET)
Day range: $438.06 – $467.17
Open: $461.97; Volume: ~44.8M
Key takeaways
- High‑stakes shareholder vote today (3 p.m. CT): Investors will decide on Elon Musk’s proposed, record-setting compensation plan and other governance items at Tesla’s 2025 Annual Meeting. Preliminary tallies are expected after the meeting; the final count typically posts to the SEC in the days that follow. [1]
- TSLA under pressure intraday: Shares are lower as traders brace for the vote and a risk‑off tape. Live market blogs note broader equity softness into midday. [2]
- Product headline today: Tesla stopped taking orders for the cheapest Cybertruck and is promoting the ~$100,000 trims for immediate delivery—adding a fresh fundamental talking point on pricing and demand. [3]
- Big holders split: Norway’s $2T+ sovereign wealth fund said this week it will vote against Musk’s package, underscoring a polarized shareholder base. [4]
What’s moving Tesla today
1) The vote that could redefine Tesla’s governance (and its stock)
Shareholders are being asked to approve an unprecedented Musk pay plan, described in major outlets as $878B to as much as $1T in potential stock awards tied to multi‑year milestones (vehicle volumes, robotaxi scale, and market‑value thresholds into the multi‑trillion range). The company has framed this as critical to retaining Musk and aligning incentives with long‑term AI/robotics ambitions. [5]
Other items on the docket include changes to voting thresholds and proposals touching Tesla’s AI direction (including investor chatter about xAI). The meeting begins at 3:00 p.m. Central with a public livestream. If you’re a shareholder of record, the virtual portal opens 15 minutes early. [6]
Why it matters for TSLA: A clear “yes” could reduce leadership‑uncertainty and keep the narrative centered on autonomy, robotaxis, and Optimus/AI. A “no” or muddled outcome risks headlines about CEO retention and strategy drift—fuel for volatility either way. (Final certified results typically follow via SEC filing.) [7]
2) Cybertruck ordering shift hits the tape
On Thursday, Tesla stopped taking orders for the lowest‑priced Cybertruck (previously ~$61,000) and spotlighted the $99,990+ versions for immediate order and delivery. Analysts say sustaining volume at six‑figure price points can be challenging, especially if inventories build. The move re‑centers attention on mix, margins, and unit demand in Tesla’s highest‑profile launch. [8]
3) Big shareholders are not all on the same page
Earlier in the week, Norway’s sovereign wealth fund—a top‑tier global holder—said it would vote No on the Musk package. Other institutions remain split, and proxy‑advisory guidance has been mixed across firms, adding to the “event risk” premium around today’s meeting. [9]
4) The market backdrop is not helping
Major indexes wavered through the morning as investors digested earnings and the Tesla vote, contributing to risk‑off flows across tech. That macro tone can amplify single‑stock swings around headline catalysts. [10]
Price action: levels and context (today)
- Intraday: TSLA opened lower and pushed to session lows near $438 by late morning ET (see chart above), reflecting both event‑driven hedging and macro weakness.
- What to watch next: High‑volume prints into the 3–5 p.m. CT window as the meeting begins and commentary filters into feeds; after‑hours chatter once preliminary tallies surface. [11]
What exactly is in the Musk pay proposal?
Coverage frames it as a performance‑based package with tranches unlocked by aggressive operational and valuation goals (e.g., multi‑trillion market‑cap steps; vehicle and robotaxi scale milestones). Depending on methodology and cost assumptions, outlets peg the headline value at ~$878B to ~$1T—orders of magnitude larger than typical S&P 500 CEO awards. Supporters say it precisely aligns Musk with shareholder outcomes; critics argue it is excessive and concentrates control. [12]
Today’s secondary Tesla headlines worth noting
- Meeting logistics: Public livestream and shareholder virtual portal details for 3:00 p.m. CT are live on Tesla’s site. [13]
- Governance & proposals context: Pre‑meeting reporting highlights removal of some supermajority provisions and governance‑adjacent proposals that could influence Musk’s latitude and board structure. [14]
- Earlier this week (software): Owners reported a wider rollout of FSD v14.1.5 on Cybertruck, extending access to features that had lagged that model. Not the core driver today—but helpful color on Tesla’s autonomy cadence. [15]
What this means for investors (near‑term)
- Catalyst path:
- 3 p.m. CT meeting/livestream starts;
- Preliminary vote signals may circulate after the event;
- Final results filed to the SEC in the days ahead. Positioning around any “surprise” is likely to dominate into week’s end. [16]
- Scenario framing:
- Approval & constructive tone: Could reduce leadership risk and refocus attention on AI/robotaxi roadmaps—often supportive for multiples.
- Rejection or contentious outcome: Raises questions on retention/control; expect elevated volatility and headline‑driven trading.
- Fundamentals to track next: Cybertruck mix/pricing after today’s order change, any production/ASP commentary from management, and November delivery run‑rates in key regions.
FAQ
What time is Tesla’s shareholder meeting today?
3:00 p.m. Central Time (public livestream available). [17]
Why is TSLA down today?
Event risk around the Musk compensation vote, a broader risk‑off tape, and a Cybertruck ordering shift that spotlights pricing/demand all weigh on sentiment. [18]
Are major holders opposing the package?
Yes—Norway’s sovereign wealth fund disclosed plans to vote against it; other institutions are split. [19]
When will final results be known?
A preliminary tally is expected after today’s meeting; the final count is typically posted to the SEC within a few days. [20]
This article is for information only and not investment advice. All prices are real‑time snapshots (see chart). For official meeting specifics, consult Tesla’s 2025 Annual Meeting page and the livestream details. [21]
References
1. www.tesla.com, 2. www.wsj.com, 3. www.reuters.com, 4. www.reuters.com, 5. www.reuters.com, 6. www.tesla.com, 7. www.investopedia.com, 8. www.reuters.com, 9. www.reuters.com, 10. www.wsj.com, 11. www.investopedia.com, 12. www.reuters.com, 13. www.tesla.com, 14. www.reuters.com, 15. www.teslarati.com, 16. www.investopedia.com, 17. www.tesla.com, 18. www.wsj.com, 19. www.reuters.com, 20. www.investopedia.com, 21. www.tesla.com
