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Tesla shares slide after judge voids Elon Musk's $56 billion compensation (www.cnbc.com)

submitted 9 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Tesla shares slide after judge voids Elon Musk's $56 billion compensation::The compensation package the Tesla board gave CEO Elon Musk set a record for publicly traded corporations, a Delaware judge noted in her ruling.

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[–] my_hat_stinks@programming.dev 21 points 9 months ago

Your mistake there is thinking the stock market has to make sense. For instance, mass layoffs are a huge red flag that a company is failing and in any sane world would instantly tank the value. The stock market instead likes layoffs because it's not at all interested in what the company actually does, so spending a little less in the short term to produce a lot less long term is a good thing.