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Tesla Shares Under Pressure After SpaceX IPO

MT Newswires Live09-11 21:42

For 15 years Tesla Motors was investors' sole public vehicle for exposure to Elon Musk; since SpaceX began trading in June, Tesla shares have come under pressure. In the three months after SpaceX's IPO, Tesla is down 8.9% while the S&P 500 is up 2.7%; SpaceX is up 9.8% from its $135 June 11 issue price.

Tesla's weakness follows recent earnings and product releases that failed to convince markets its pivot to physical AI products will succeed; investors now view SpaceX as a purer growth story and Tesla as a higher-risk transformation bet.

Roundhill Financial CEO Dave Mazza said SpaceX must now demonstrate a $100 billion annualized revenue run-rate, and Tesla must prove it is more than a pre-IPO 'Musk concept' stock.

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Comment（1）

  • Warzypants
    ·09-12 05:41
    No, $tsla is being kept in the $350-$400 range because $spcx is very likely planning an imminent bid, and $tsla in this range and $spcx at ~$160 makes sense for a bid without too much dilution.
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