Wedbush says ‘one way or another’ Tesla Board will get Musk his pay package

Wedbush analyst Daniel Ives says that in “another Twilight Zone” legal move from Chancellor McCormick of the Delaware Court of Chancery yet again blocked Elon Musk’s $56B pay package that has been approved by Tesla (TSLA) shareholders now two times. The firm continues to believe “Tesla and Musk will fight this tooth and nail all the way to the Supreme Court in Delaware and then potentially to the Federal system as this remains “a frustrating headache for Tesla, Musk and its shareholders.” Wedbush also believes this case could be the catalyst for more public companies to leave the state of Delaware for their corporation status. “Musk is Tesla and Tesla is Musk,” the firm says, “One way or another the Board is getting Musk his pay package to secure Musk will be CEO of Tesla at least through 2030.” Wedbush expects Tesla will ultimately win this fight at the Supreme Court level. The firm has an Outperform rating on the shares with a price target of $400.