Tesla (TSLA) is launching today a new shareholder platform to manage its large investor base and allow them to participate in events and ask questions.
Over the years, Tesla has had an unusual approach to investor relations.
CEO Elon Musk often voiced frustration with traditional Wall Street analysts on earning calls and pushed for more interactions with retail investors.
Tesla started to implement Say’s platform, which collects questions from investors and lets them vote on the most popular ones to be asked to Tesla’s management during the calls.
Now it looks like Tesla wants to build its own platform using Say and Plaid.
The automaker announced the “Tesla Shareholder Platform” on Twitter today:
Tesla shareholders can sign up by proving ownership with their brokers through Say and Plaid:
If you don’t want to link your broker account or can’t because it is a Canada-based broker (like me), you can verify manually with a statement.
For now, Tesla only lists that the platform will offer participation in events as well as voting and submitting questions for earnings calls, but more is apparently coming:
- Participate in shareholder events
- Vote and submit questions during earnings calls
- More to be announced
These services were already offered directly through Tesla’s IR website and the Say platform.
You can also choose more options for your investor email subscription:
Shareholders can choose only to get the big events or all SEC filings.
This is something that more large companies with massive investor bases are starting to do.
I would assume that this is also going to give Tesla more data on its investor base, which can prove useful.
Some are already speculating that Tesla is doing that to potentially go private, like Musk previously talked about and tried to do with Twitter, but I think that’s a bit far-fetched.
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Author: Fred Lambert