Democrats' midterm sweep wipes $420 billion off Tesla and SpaceX
Tesla and SpaceX lose over $420B in combined market cap in the two days
Tesla and SpaceX shares fell roughly 11% and 9% after Democrats won both chambers of Congress and Texas flipped blue, erasing over $420 billion in combined market value in two days. Investors fear new congressional probes and tighter data-center rules could delay the companies' AI buildout in Texas and block Musk's proposed SpaceX-Tesla merger. Musk, the GOP's biggest midterm donor at over $470 million, saw his net worth drop below $800 billion.
While policy is naturally hard to predict, we could envision SpaceX facing some incremental headwinds in this type of backdrop.
- jml7c5
This analysis would be more convincing if other major tech companies hadn't fallen a similar amount today. It's a broad tech selloff.
Also, what's with this site? It only has a single article.
EDIT: Judging from the URL/title, it's some (AI-generated?) thing that reuses the title from https://www.reddit.com/r/technology/comments/1xow42o/tesla_a...
- thelastgallon
Tsla has a PE of 380 with YoY degrowth over multiple years and no prospects of growth.
- tehologist
Still wildly over valued, only time even remotely profitable is with government subsidies.
- ipsum2
What is this random website that has a single AI generated article
- ungreased0675
Lawfare is coming, everyone knows it.