A long-term Elon Musk backer is cashing out of Tesla — and cutting its SpaceX exposure

Scottish Mortgage sold its last Tesla stock and cut its SpaceX stake

Scottish Mortgage's SpaceX holding fell to 11.1% of assets from 15% at Sept. 30, as its net asset value returned 31.5% in six months

A long-term Elon Musk backer is cashing out of Tesla — and cutting its SpaceX exposure

Scottish Mortgage Investment Trust has cut its SpaceX holding to 11.1% of assets and sold its remaining Tesla stake.

Investor Reduces Tesla and SpaceX Stakes

The investor was not identified, and the report gave no amount or timing for the reductions. Independent committees at both companies are evaluating a possible merger, but no formal terms have been announced.

Investor reduces Tesla, SpaceX stakes amid merger speculation

Investor skepticism and market volatility may hinder Tesla-SpaceX merger prospects, impacting confidence in Musk's strategic ventures.