US stocks open higher for a second day in a row as investor confidence remains high in this earnings-heavy week
Elon Musk is on the cusp of getting a $750 million payday.stock is close to reaching the milestone of a six-month average market value of $100 billion, the company noted in a filing Tuesday. If it stays near that level, during the current quarter Musk will be awarded options to buy 1.7 million shares of Tesla stock for $350.02 a share.
Based on Monday's closing price, those options are worth $1.3 billion -- or a net value of $750 million to Musk after the cost of exercising them. Though Tesla shares have fallen 13% since a record high in mid-February, the stock has nearly doubled so far this year, taking its current market value to more than $140 billion.
Tesla is due to report first-quarter results Wednesday after the market close. In January, after reporting its , Tesla said it expected to be profitable going forward. But that was before the coronavirus crisis caused it to shut production.to customers fell 21% compared to the fourth quarter. Analysts are forecasting a narrow first-quarter loss and a larger second-quarter loss, with profits returning the second half of this year.
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