Key Stats for Tesla Stock
- Price change for Tesla stock: -3%
- $TSLA Share Price as of May. 18: $410
- 52-Week High: $499
- $TSLA Stock Price Target: $412
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What Happened?
Tesla (TSLA) stock slipped on Monday after a federal jury in Oakland, California, ruled against Elon Musk in his lawsuit against OpenAI and CEO Sam Altman. The verdict came after less than two hours of deliberations.
- The jury found that Musk waited too long to file his claims, ruling they fell outside a three-year statute of limitations.
- The judge immediately adopted the jury’s decision.
- Claims against Microsoft, which was also named as a defendant, were dismissed.
- Musk had accused Altman and OpenAI of abandoning the company’s founding charitable mission to enrich themselves.
- He testified he donated roughly $38 million to OpenAI with the understanding it would develop AI for the benefit of humanity.
His legal team sought up to $180 billion in damages and wanted Altman and OpenAI President Greg Brockman removed from leadership.
Musk called the ruling a “calendar technicality” on X and said his team plans to appeal to the 9th Circuit Court of Appeals.
OpenAI’s lead attorney called the decision substantive, saying Musk sat on his claims to use them as a competitive weapon.
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What the Market Is Telling Us About Tesla Stock
The court loss adds more headline noise around Elon Musk at a time when Tesla stock is already under pressure.
Shares are down roughly 20% from their 52-week high, weighed down by soft delivery numbers, rising competition in the EV market, and ongoing concerns about Musk’s attention being split across Tesla, SpaceX, xAI, and his role in the Trump administration.
The OpenAI lawsuit itself was never expected to directly benefit Tesla financially. But any legal or reputational setback for Musk tends to weigh on Tesla stock, given how closely investors tie the company’s fortunes to its CEO.
The timing is also notable.
Musk is expected to begin meeting with investors soon ahead of a potential SpaceX IPO, which was valued at $1.25 trillion after merging with xAI earlier this year.
More distractions from Tesla’s core business rarely sit well with shareholders.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
