T esla stock was sliding on Tuesday, giving up some of the gains it made the previous session thanks to CEO Elon Musk’s new multibillion-dollar pay package. Shares of the electric-vehicle maker slid 0.6% to $307.44 in early trading, having gained 2.2% on Monday. The S&P 500 was 0.2% higher on Tuesday.

Tesla's board approved a compensation package for Elon Musk worth about $29 billion in order to keep the chief executive focused on the company.

The “interim” package announced on Monday was intended to help retain Elon Musk, whose previous pay plan was invalidated by a judge.