Tesla stock surged 7% after Elon Musk's pay package neared approval.
Elon Musk's compensation package is worth $46 billion based on Tesla's current stock price.
Dealbook reported that Vanguard and BlackRock voted in favor of Musk's package.
Wedbush analyst Dan Ives said the apparent shareholder approval of Musk's compensation package should remove an overhang on Tesla's stock price.
Ives Rates Tesla stock at "Outperform" with a $275 price target, representing potential upside of 45% from current levels.
Persons:
Elon Musk's, Elon, Dealbook, —, Musk, Deleware, Dan Ives, Ives
Organizations:
Elon, Vanguard, BlackRock, Service, Tesla, New York Times, titans, Ives
Locations:
Texas, Delaware