BUZZ - As Texas turns into a "blue state," Tesla and SpaceX, led by Musk, see a drop in stock prices
路透社2026/11/04 12:14November 4 - ** After the Democratic Party swept Congress in the U.S. midterm elections, the share prices of Tesla (TSLA.O) and SpaceX (SPCX.O), both led by Elon Musk, fell in pre-market trading.
** TSLA dropped 4.8% to $380.67, while SPCX retreated 4.4% to $135.11.
** The Democratic Party achieved a historic breakthrough (link) in Texas—Republican stronghold and home base for both companies.
** Federal filings (link) show that Musk donated $158 million to Senate leadership funds to help maintain the Republican advantage in Texas.
** The Republican defeat in Texas could weaken Musk’s political influence in his second home, where he has expanded his business empire and forged close ties with Republican leaders.
** The growing presence of the Democratic Party could complicate (link) the expansion plans of Tesla (TSLA) and SpaceX (SPCX), especially as Democrats call for stricter data center regulations and the end of tax incentives.
** “A blue wave could put plans for a potential Tesla-SpaceX merger on hold,” said Saxo Bank strategist Neil Wilson.
** “Space data centers look quite attractive at the moment,” Musk posted on X Wednesday after the results were announced.
** As of the last trading day’s close, TSLA had fallen more than 11% so far this year, while SPCX had gained 4.67% since its June IPO.
(To assist non-native English speakers, Reuters provides automated translations of its reports into several other languages. As automated translations may contain inaccuracies or lack context, Reuters does not guarantee the accuracy of the translated text, and it is provided for the convenience of readers only. Reuters accepts no responsibility for any damage or loss arising from the use of automated translation.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
GlaxoSmithKline endorses: anti-inflammatory biotech company Rezera (RZRA.US) plans to raise $200 millions through IPO, with a valuation of $254 millions
Rezera plans to raise $200 million in its IPO on Nasdaq, with an offering price between $11 and $13. GSK intends to subscribe for up to $25 million. The mid-point valuation is $254 million, and the company focuses on oral NLRP3 inhibitors.
BUZZ-3M India shares fall to 19-month low due to quarterly profit decline
Anthropic (ANT.US) to launch IPO roadshow next week, valuation may shrink from 1.5 trillion dollars to 1 trillion dollars! The AI capital feast faces a test.
After the AI sell-off, major investors are questioning whether Anthropic can go public at a $1.5 trillion valuation, or if it will be reduced to around $1 trillion. Fundraising may also decrease from $100 billion to $80 billion.
Hong Kong live music service provider Guitar Group applies for US IPO, aiming to raise $31 million
Guitar Group, a provider of music performance events, guitar-making workshops, and guitar repair services, submitted an application to the U.S. Securities and Exchange Commission (SEC) on Thursday, seeking to raise up to $31 million through an initial public offering (IPO).
Crypto prices
More
