Just the facts
Tesla and SpaceX shares fall sharply after U.S. midterm elections
Summary
Tesla stock is down about 24% for the year and SpaceX fell up to 11% following the recent U.S. midterm elections, wiping roughly $411 billion from the companies' market value.
Tesla shares have slipped to a roughly 24% decline for the year, while SpaceX dropped as much as 11% on Thursday after a 3.8% fall the previous day. The declines came after the U.S. midterm elections, which analysts said increased regulatory uncertainty for Elon Musk’s businesses. The combined market-value loss for the two companies was estimated at about $411 billion. Analysts noted that Democratic gains in Texas could lead to tighter oversight of Musk’s operations, adding to investor concerns.