Tesla rises ahead of upcoming key shareholder vote

Shares of Tesla TSLA.O rise 2.2% to $466.32, hitting its highest level in 10 months, on Monday ahead of an upcoming key shareholder meeting that could determine CEO Elon Musk's $1 trillion pay plan

TSLA hit its highest since Dec. 18 and is on track for the second straight session of gains

TSLA will hold its annual shareholder meeting on Nov. 6. Shareholders will be asked to approve Musk's controversial incentive plan, which TSLA's board chair Robyn Denholm has endorsed

Several state pension systems, including the New York Comptroller's office and the California Public Employees' Retirement System (CalPERS), have opposed Musk's pay plan while others such as Florida's board of administration have backed it

Among 55 analysts covering TSLA, avg rating is "HOLD" while median PT is $415, per LSEG data

Meanwhile, TSLA's sales plunged in October in a number of European countries including Spain, the Netherlands and Nordic markets in the latest sign of its struggles on the continent

TSLA is up 15.5% YTD vs NASDAQ Composite Index's .IXIC 23.5% increase