This article first appeared on GuruFocus.
Tesla (NASDAQ:TSLA) shares climbed about 4% to $445 in Monday trading after Chairperson Robyn Denholm expressed optimism about the company’s long-term growth outlook, according to a Monday letter shared following the automaker’s annual meeting.
Denholm said strong shareholder backing for Tesla’s board and Chief Executive Elon Musk’s compensation package signaled continued investor confidence in the company’s strategic vision under its Master Plan Part IV. She noted that investors reaffirmed support for leadership that has been in the room since the earliest days, steering Tesla toward new technologies in artificial intelligence and automation.
The letter described Tesla’s ongoing transition into what Denholm called the age of autonomy, highlighting developments such as Robotaxi and the humanoid Optimus project. These initiatives, she said, could represent the largest value-creation event in Tesla’s history.
Denholm has served as Tesla’s chair since 2018, succeeding Musk after several years as an independent board member and audit committee head. Shares of the electric-vehicle maker remain up roughly 17% year to date, giving Tesla a market value of about $1.43 trillion.