During the Nasdaq’s nine-day tech rally, Tesla was the sole Mag7 stock to decline, sliding 1.2% as peers such as Broadcom surged nearly 30% and Amazon tested resistance near $240. This divergence highlights Tesla’s recent relative weakness amid broad market strength.

Tesla may face headwinds as SpaceX gears up for its IPO, which could capture investor interest and capital that might otherwise flow into electric vehicle equities. The size and timing of the offering remain undisclosed, but its market debut could reshape allocation among growth stocks.