Southern Double Long Tesla ETF Jumps Over 4% as CLSA Says Market Sentiment on SpaceX Merger Outweighs Long-Term Risk Concerns

Stock News10-23 11:51

The Southern Double Long Tesla ETF (07766) rose over 4%, reaching 4.61% at the time of writing to HK$86.2, with a turnover of HK$2.5828 million.

On the news front, Tesla Motors (TSLA.US) recently disclosed its third-quarter financial report. CLSA noted that Tesla's operating profit for the third quarter of 2026 fell 56% year-on-year to US$718 million, below the bank's expectation of US$966 million but above the market consensus of US$599 million.

The bank raised its target price for Tesla Motors (TSLA.US) from US$310 to US$400 and upgraded its rating from "Underperform" to "Hold."

Additionally, Musk recently revealed during the quarterly earnings webcast that a special committee has been established to begin exploring a potential transaction between SpaceX (SPCX.US) and Tesla Motors. CLSA pointed out that company management did not answer questions regarding a potential SpaceX merger, with discussions mainly focusing on projects such as Robotaxi, Optimus, and Terafab.

The bank believes that Tesla Motors has shifted from a clean energy company to an AI-driven one, similar to SpaceX, making a merger logical. The bank believes the merger will happen, and market sentiment toward the merger outweighs long-term risk concerns.

For more heavyweight Hong Kong stock news, download the Zhitong Finance app. For more Hong Kong and overseas wealth management information, please visit www.zhitongcaijing.com (search for "Zhitong Finance"); to join the Zhitong Hong Kong stock investment group, please add the Zhitong customer service WeChat (ztcjkf).

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