Tesla Shares Drop 3.7% as SpaceX IPO Looms and Rivian Launches $45k R2 SUV
TSLA•Tesla shares fell 3.7% as investors prepared for the $1.75 trillion SpaceX IPO, potentially shifting growth capital away and reducing shareholder selling pressure. Rivian began deliveries of its R2 SUV priced $45,000 to $58,000 and moved up its entry-level launch to next summer, intensifying mainstream EV competition.
1. Tesla Stock Reaction
On June 9, Tesla shares declined 3.7% after investors anticipated a large SpaceX IPO could shift growth capital and reduce secondary selling pressure on Tesla stock.
2. SpaceX IPO Prospects
SpaceX is targeting a $1.75 trillion valuation for its Nasdaq debut, raising concerns that growth funds facing Musk exposure caps may reallocate assets, with institutional effects expected to unfold over the next 90 days.
3. Rivian R2 Launch Intensifies Competition
Rivian began customer deliveries of its R2 SUV, priced from $45,000 to $58,000, and accelerated its entry-level model launch to next summer, heightening competition in the mainstream mid-price EV segment.
