Tesla stock trading higher, poised for 4th straight week of gains

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Tesla banal (TSLA) is trading higher connected Friday, capping different beardown week for the EV-maker. In information its the 4th consecutive week the banal has traded higher, aft Tesla deed a caller debased connected April 21.

Tesla banal is present down lone 13% for the year, aft plunging implicit 40% astatine 1 constituent this year.

Driving the quality contiguous was Tesla's summation of Chipotle president Jack Hartung to its committee of directors.

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As of 1:10:42 PM EDT. Market Open.

Hartung volition beryllium the ninth subordinate of Tesla's committee and volition articulation the institution connected June 1. Hartung volition discontinue from his relation astatine Chipotle (CMG) connected the aforesaid time and modulation to a elder advisor relation astatine the Mexican fast-casual chain. Hartung besides serves connected the boards of Portillo's, the Honest Company, and ZocDoc.

Tesla said Hartung volition besides articulation the audit committee of the board.

Read much astir Tesla's banal moves and today's marketplace action.

Tesla's committee has been nether occurrence recently, with disapproval implicit its independence, compensation, and dealings with CEO Elon Musk.

This week, the Financial Times reported Tesla's committee had formed a peculiar committee to research a caller wage bundle for Musk, with banal options perchance connected the table. The committee volition research "alternative ways" to compensate Musk for past enactment should Tesla neglect to reinstate Musk's anterior 2018 wage package, which is connected entreaty with the Delaware Supreme Court.

The bruising conflict implicit Musk's wage led to respective ample shareholders complaining astir the exorbitant magnitude Musk would beryllium paid — $56 cardinal — and Musk's menace that helium would instrumentality projects similar AI distant from Tesla unless helium received much banal options.

Chair Robyn Denholm refuted a Wall Street Journal report that the committee was looking for replacements for Musk and had told Musk to instrumentality to Tesla successful bid to reassure investors.

Denholm, who has sold a whopping $538 million successful Tesla banal since she joined the committee successful 2014, has been questioned by investors astir her ain compensation. The committee besides settled a suit brought by shareholders and had to wage backmost millions successful compensation.