Tesla and SpaceX lose $469B in combined market cap after Texas election
Original title: Tesla and SpaceX lose over $420B in combined market cap in the two days
Democrats win Texas and congressional majorities, raising regulatory risks for Musk's AI and EV companies.
Tesla and SpaceX shares fell sharply after Democrats unexpectedly won in Texas and secured a congressional majority. The combined market value loss approaches $469 billion, with Elon Musk's personal wealth declining by around $189 billion. Analysts cite increased oversight of AI data centers and potential complications for a Tesla-SpaceX merger under Democratic control.
Unconfirmed: Market interpretations of regulatory risks remain speculative and depend on future Democratic actions.
- Tesla shares dropped 3.3% on Wednesday and 10.77% on Thursday
- SpaceX shares fell 3.8% and 9% over the two days
- Musk's stake loss totals approximately $189 billion
- Companies benefited from Texas's lax regulations and NASA contracts
- Organizations
- Musk
- Countries
- United StatesTexas
From the original article
3 min read at techlaws.pages.devThe midterm elections have dealt a major blow to Donald Trump and his Republican Party, as well as to one of his biggest backers, entrepreneur Elon Musk. The two major companies controlled by Musk—Tesla and SpaceX—have suffered a sharp stock market correction following the Democrats' unexpected victory in Texas and their majority in the U. S.
By Pepitobombito · techlaws.pages.dev
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