Tesla gains amid optimism over US-China trade truce
Tesla's TSLA.O shares are up 5% at $455.47 amid optimism around a truce in U.S.-China trade tensions and as Chair Robyn Denholm appealed to shareholders to back CEO Elon Musk's $1 trillion pay package
TSLA is on track for biggest daily pct. gain since October 13 and set for highest close since October 2
Top Chinese and U.S. economic officials on Sunday hashed out the framework of a trade deal for U.S. President Donald Trump and Chinese President Xi Jinping to decide on later this week that would pause steeper American tariffs and Chinese rare earths export controls, U.S. officials said
TSLA's biggest markets are the U.S. and China
Musk's leadership was "critical" to Tesla's success and without a plan that properly incentivizes him, the company could lose his "time, talent and vision", Denholm said in a shareholder letter
The proposed package would grant Musk 12 tranches of stock options tied to ambitious targets, including a market capitalization of $8.5 trillion and milestones in autonomous driving and robotics
TSLA is up ~13% YTD vs NASDAQ Composite Index's .IXIC 22% increase
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