SpaceX (SPCX) fell 6% to $133.03 and Tesla (TSLA) fell 5% to $378.20 in morning trading after Democrats were projected to win control of both the House and Senate. The article links the pressure to Elon Musk's political exposure, noting he poured nearly $450 million into Republican coffers before the vote, while General Motors and Ford each rose 2%. Democrats could slow a potential Tesla and SpaceX merger, with prediction-market pricing giving a 57.5% probability of an official announcement by June 30, 2027. Barclays estimates Musk would control 56% of the voting rights in a combined entity, although his share of outstanding shares is 37%. More than 1 billion SpaceX shares became eligible for sale after IPO restrictions expired in late October, and the company carries a $1.9 trillion valuation according to Bloomberg.
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TSLASpaceXElon Muskmergers and acquisitions
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Related tickers and likely impact
TSLA
▼ Likely negativeTesla, Inc.
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Automobile Manufacturers |
| Market cap | $1.6T |
| Close on 11/03/2026 | 398.22 |
| Change that session | -1.39% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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