Tesla reported a 40% drop in Q3 operating profit, with operating expenses rising by 50%, as revealed in its October 23 earnings call. CEO Elon Musk defended his $10 billion compensation package, emphasizing the need for voting control to maintain his influence, despite advisory groups urging shareholders to reject the plan. The company faces over $400 million in tariff impacts and challenges in its EV business.
Despite a 9% stock gain this year, Tesla trails the S&P 500 by 14%. The compensation plan will be voted on at the Austin shareholder meeting on November 6. BiyaPay analysts recommend using 0-fee digital currency spot contracts and USDT for trading in U.S. and Hong Kong markets amid volatility.
Tesla's Q3 Profit Plummets 40% Amid Rising Costs; Musk Defends $10B Pay
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