Tesla’s (NASDAQ:TSLA) 2019 annual shareholder meeting comes at a rather historic time for the electric car maker. The past year has proven to be a roller coaster of sorts for Tesla’s investors, with TSLA stock rising as high as $387.46 per share and falling to as low as $176.99 per share. At the center of these wild swings is the Tesla Model 3, which is currently in its international rollout.
The past month was a challenging time for Tesla’s investors. Following the company’s lower-than-expected delivery and production figures in the first quarter, Tesla was hit by a perfect storm that included multiple negative analyst forecasts, pessimistic narratives from the media, and allegations that the demand for the company’s vehicles is waning. These concerns have largely been dispelled in recent weeks, as signs have emerged that Tesla, and particularly the Model 3, might be poised to pleasantly surprise this second quarter.
For the annual shareholder meeting, Elon Musk and Tesla’s executives are expected to address questions from retail investors that could range from the company’s current projects such as the Model 3 ramp to its future endeavors such as the Tesla Pickup Truck. Questions aggregated by investor communication platform Say also point to inquiries about Tesla’s rationale behind the Maxwell acquisition, as well as the company’s plans for its insurance service, among others.
The following are live updates from Tesla’s 2019 annual shareholder meeting. Fellow Teslarati reporter Dacia Ferris and I will be updating this article in real-time, so please keep refreshing the page to view the latest updates on this story.
Simon 14:40 PT: And now the votation starts. For background on this, please refer to our article on the agenda for today’s meeting.
Dacia 14:37 PT: “You need to have a certain amount of intestinal fortitude as an investor…and you have that in spades,” Denholm says. That’s for darn sure.
Simon 14:35 PT: Tesla Chair Robyn Denholm takes the stage to address investors in her welcoming remarks. Teases Elon’s upcoming presentation.
Dacia 14:33 PT: Selfie time FTW!
Dacia 14:31 PT: Where’s the music video? Totally bumming.
Simon 14:30 PT: Should be starting anytime now.
Simon 14:24 PT: Now all we need to know is if the red Model Y is separate from the blue one. Pretty cool if Tesla has two working prototypes right now.
Dacia 14:20 PT: Twitterverse is saying that red Model Y is a functioning prototype. (h/t Ryan McCaffrey)
Simon 14:13 PT: It’s full house (courtesy of Tesla owner-investor Dennis Pascual). Just a bit over 15 minutes before it’s set to begin.
Simon 14:10 PT: Kinda wondering if that red Y is just a wrapped version of the blue prototype from the unveiling. Sure looks like a working model imo. But that OEM chrome delete though.
Simon 14:09 PT: Some sweet cars outside the meeting’s venue. Red Model Y is fire.
Dacia 14:05 PT: Woo! Tesla live blog time again! Red cars at the shareholder meeting for passion…or panic?? (dun dun dun! just pre-empting the FUD)