Elon Musk's Tesla and SpaceX Lose over $420 Billion in Combined Market Cap After Midterms
Investors fear congressional scrutiny and tighter rules could slow AI and data-center expansion at both companies, after Tesla fell 13.75% and SpaceX 12.52%.
- On Thursday, Tesla and SpaceX shares declined about 9% and 11% respectively as investors feared new Congressional probes and stricter regulation following U.S. mid-term elections, erasing over $420 billion in aggregate market value since Tuesday's close.
- Democrats won control of both chambers of Congress, positioning Elon Musk—a top ally of President Donald Trump—as a likely target for scrutiny. Texas Republican Sen. Ted Cruz noted Democrats signaled they would use subpoenas "to go after Elon Musk."
- Deutsche Bank analysts warned on Wednesday that SpaceX faces "incremental headwinds" in Texas, where Gov. elect Gina Hinojosa made data centers a campaign issue and called for "a moratorium on new approvals until the legislature passes stronger protections on water use."
- Tesla shares fell 14% to about $342, while SpaceX stock dropped 12% to about $125, representing combined losses of roughly $450 billion across two trading sessions.
- CFO Vaibhav Taneja expects robotaxis to make a "real dent" in Tesla's profits by 2027, though analysts recommend buying in small pieces over several weeks given these remain among the most volatile tech stocks available.
56 Articles
56 Articles
Tesla and SpaceX lose $456 billion in stock market value. According to the U.S. election, Elon Musk threatens political risks and problems with a merger.
Elon Musk has lost a quarter of his fortune. His closeness to the Republicans is giving him and the rest of technological tycoons a stock exchange in the face of fear of less investment in artificial intelligence. The largest companies linked to AI lose 4 billion in the last month Read
Elon Musk's Net Worth Drops Nearly $80 Billion In A Day As Tesla And SpaceX Stock Crater During Tech Wipe-Out
Strong earnings couldn't shield Micron and AMD when chip stocks buckled, and the market's fear gauge sat calm the day before. Behind the blame on politics sits a quieter number that will decide whether this was a scare or a correction.
AFTER the Republican defeat, Musk's companies lost $456 billion, and the billionaire is now facing strict investigations and new regulatory hurdles.
Reformatorisch Dagblad
Elon Musk has lost more than 100 billion dollars since the midterm elections in the United States, which turned out dramatically for the Republicans. According to the Bloomberg Billionaires Index, his fortune has shrunk by nearly 80 billion dollars due to Thursday's tech sell-off on Wall Street. On Wednesday, Musk already lost 33.5 billion dollars due to sharp share price losses at SpaceX and Tesla, in which he holds significant stakes.
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