Musk Companies Slide on Midterm Results
Shares of SpaceX and Tesla extended losses as Democratic midterm victories in Texas raised concerns over data center expansion and regulatory hurdles for a potential merger. Investors worried that political shifts could slow down key projects.
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Tesla and SpaceX shares slumped on Thursday, losing more than $380B in market value this week as Democratic midterm wins in the United States cloud data center expansion. The selloff reflects investor fears that political shifts will trigger stricter regulatory scrutiny for Elon Musk's companies. Combined market capitalization losses highlight growing tension between state-level policy changes and corporate tech growth.
