Copyright Benzinga
Trading platform Robinhood Markets Inc. (NASDAQ:HOOD) announced that it will offer benefits to its users for moving Tesla Inc. (NASDAQ:TSLA) shares on its platform ahead of the shareholder meeting. Check out the current price of TSLA here. 2% Uncapped Bonus In a poll on the social media platform X on Tuesday, Robinhood founder Vlad Tenev asked if the platform should be offering incentives for users moving Tesla shares. The poll illustrated that more than 80% of the 18,967 voters wanted a 2% match. "We're giving an uncapped 2% bonus on taxable and retirement transfers for portfolios with at least 1 $TSLA whole share," the platform said in a post on Wednesday following the poll. A Bullish Signal Following the announcement, influencer Mario Nawfal took to X to share his thoughts in a post on Wednesday. "This is smart money recognizing smart money," he said. He added that the move showcases that Robinhood sees Tesla shareholders as "premium customers" and that it expects Elon Musk's pay package to pass. "When brokers start bidding for your business with actual cash bonuses, that’s a bullish signal," Nawfal said. Investors Offer Varying Views On Pay Package The news comes as Tesla is gearing up for the shareholder meeting on Thursday, where investors will vote on several key decisions, including Musk's trillion-dollar pay package. Investors like Wedbush Securities' managing director, Dan Ives, predict that the package would receive approval from the investors. However, Tesla bull and Morgan Stanley analyst Adam Jonas has said that the package not receiving approval could be a "vote of no confidence" from investors in Musk's role as the CEO. Stock Dilution Concerns Amid the varying views, critics of the package, including Gerber Kawasaki co-founder Ross Gerber, say that the package could cause dilution of the company's shares if approved. Gerber's concerns are shared by Norway's Sovereign Wealth Fund NBIM, which holds $17 billion in Tesla assets, as well as proxy advisory firm Glass Lewis. The California Public Employees Retirement System (CalPERS), another important investor, will also reportedly vote against the pay package. Tesla scores well on Momentum and Quality metrics, while offering satisfactory Growth, but poor Value. Tesla also has a favorable price trend in the Short, Medium and Long term. For more such insights, sign up for Benzinga Edge Stock Rankings today! Check out more of Benzinga's Future Of Mobility coverage by following this link. Read Next: Top Analyst Predicts Major TSLA Dip, Calls Elon Musk-Led EV Giant’s Autonomous Ride-Hailing Service ‘A Glorified Taxi:’ ‘People Will Be Sick…’ Photo courtesy: Sergei Elagin On Shutterstock.com
