TLDR
- Tesla will hold its annual shareholder meeting on November 6, 2025, after investors pushed for a date citing legal obligations
- Tesla shares have dropped 38% since hitting a record high in December, with the stock down 27% year-to-date
- Analyst Dan Ives called for Tesla’s board to “act now” and set ground rules for Musk’s political activities after he announced forming the “America Party”
- Tesla reported Q2 deliveries of 384,122 vehicles, down 13.5% from a year ago but slightly above some analyst fears
- Musk’s Grok chatbot will be available in Tesla vehicles next week as part of deeper integration across his companies
Tesla announced Thursday it will hold its annual shareholder meeting on November 6, 2025. The date comes after investor pressure and legal obligations under Texas law requiring meetings within 13 months of the previous one.
The last meeting was held in June 2024. Since then, Tesla has faced multiple challenges that have spooked investors.
Tesla shares have tumbled 38% since hitting a record high in December. The stock is down 27% year-to-date and trading 39% below its all-time high of $488.54.
The company’s struggles include aging vehicle lineup hurting sales and broader market concerns. Tesla is now pivoting toward self-driving technologies for future growth.
Musk’s political activities have become a major concern for investors. The CEO recently announced plans to form the “America Party” to challenge President Trump and the two-party system.
His public feud with Trump over tax cuts and spending has created additional uncertainty. Tesla shares have underperformed the “Magnificent Seven” tech stocks this year.
Analyst Calls for Board Action
Wedbush Securities analyst Dan Ives made a direct call for Tesla’s board to intervene. He outlined three steps the board should take regarding Musk’s political ambitions.
Ives wants the board to create a new incentive pay package increasing Musk’s ownership to around 25% voting power. The package should specify how much time Musk must spend on Tesla operations.
He also suggested creating a special board oversight committee for Musk’s political activities. This committee would set ground rules that could affect his pay package if violated.
Musk responded to Ives’ suggestions on X with a blunt “Shut up, Dan.” The exchange highlights growing tensions between the CEO and his supporters.
Morgan Stanley analyst Adam Jonas warned investors to prepare for further resource devotion to Musk’s political priorities. He said this could add more pressure to Tesla shares.
Tesla stock fell 6.8% on Monday to $293.94. The session marked a decisive break below both the 200-day and 50-day moving averages.
On Tuesday, shares jumped as high as $304.05 intraday but pared gains to close up 1.3% at $297.81. Wednesday saw another decline of 0.7% to $295.88.
Business Operations Continue
Tesla reported Q2 vehicle deliveries of 384,122 units. The number was down 13.5% from a year ago but slightly above some analyst fears.
Vehicle production ran nearly flat compared to the previous year at 410,831 units. The delivery numbers fell short of earlier analyst consensus expectations.
Before the deliveries release, Musk fired Omead Afshar, Tesla’s head of operations in North America and Europe. Afshar had been with Tesla since 2011 and was considered one of Musk’s top lieutenants.
Linda Yaccarino, CEO of Musk’s social media platform X, resigned in a surprise move. She joins a growing list of executives stepping down from Musk’s companies.
🚨 BREAKING: Linda Yaccarino steps down as CEO of X… https://t.co/Tfj78EZMKW
— Trader Edge (@Pro_Trader_Edge) July 9, 2025
Musk is pushing deeper integration across his business empire. The Grok chatbot from his xAI startup will be available in Tesla vehicles next week.
Piper Sandler analysts noted the Grok integration suggests formalized ties between Tesla and xAI. They expect the upcoming proxy statement may contain more details on this relationship.
Tesla set July 31 as the deadline for shareholder proposals to be included in the proxy statement. The company was close to missing legal deadlines under Texas law.
In April, Tesla said it would file its annual proxy statement later than expected. The board formed a special committee to consider compensation matters involving Musk.
Last year’s meeting saw shareholders approve Musk’s controversial $56 billion compensation package. This came despite a Delaware court ruling that had previously voided it.
Tesla will report Q2 earnings and revenue on July 23. The company predicted 20%-30% EV delivery growth for 2025 at the end of last year.
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