A group of activists is planning a worldwide protest called “Tesla Takedown” on November 15 in order to target Tesla (TSLA) CEO Elon Musk’s recently approved pay package. Notably, the protest against the EV firm is being promoted under the hashtag #NoTrillionaires and is meant to raise awareness about what organizers see as too much power and wealth being concentrated in the hands of one person. In its statement, the group accused Musk of contributing to the rise of authoritarianism and claimed that his growing influence could be dangerous.
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They argue that making him a trillionaire would give him even more control, especially over technology and politics. The protest aims to stop that from happening by drawing attention to his massive incentive plan. Interestingly, organizers stressed that Tesla Takedown is meant to be peaceful and lawful by stating that they do not support any form of violence, vandalism, or property damage. That message is especially important since previous protests have resulted in arrests and violence, including vandalism, firebombing, and even shootings at Tesla properties earlier this year.
The new round of protests comes shortly after Tesla shareholders approved Musk’s pay package, which could make him the world’s first trillionaire if certain goals are met. It’s also worth noting that over 75% of shareholders supported the plan during Tesla’s annual meeting. In addition, to unlock the full payout, Musk must help Tesla achieve ambitious targets, such as delivering 20 million vehicles and deploying one million Tesla Bots and one million Robotaxis.
What Is the Prediction for TSLA Stock?
Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 14 Buys, 10 Holds, and 10 Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $382.54 per share implies 12.2% downside risk.
