Tesla Shares Drop 4% on SpaceX IPO Rotation Fears, Roadster Delayed to August
TSLA•Tesla shares tumbled about 4% on June 9 to near $394 as investors weighed SpaceX’s pending IPO and broader tech selloff. The next-generation Roadster demo slipped again to August, while Barclays kept a Hold rating with a $360 target and Wolfe Research maintained a Peerperform stance.
1. Tesla Stock Declines on SpaceX IPO Rotation Fears
On June 9, Tesla shares fell approximately 4% to trade near $394 as investors anticipated the SpaceX IPO at a $1.77 trillion valuation and rotated out of electric vehicle names. The broader tech selloff, spurred by a stronger-than-expected May jobs report, added pressure on the Nasdaq and S&P 500, weighing on Tesla's performance.
2. Next-Generation Roadster Demo Postponed to August
The demonstration of Tesla's next-gen Roadster, originally targeted for April and later May or early June, has been delayed again to August. This setback raised concerns about execution on Tesla’s product roadmap as competition intensifies in the electric sports car segment.
3. Analysts Maintain Neutral Stance
Barclays reiterated a Hold rating with a $360 price target, citing higher input costs and margin pressure, while Wolfe Research kept a Peerperform stance. Divergent analyst views reflect uncertainty over Tesla’s near-term profitability and the potential impact of capital rotation following Elon Musk's other ventures.





