Tesla Shares Drop 2% as SpaceX Valuation Tops $2 Trillion
TSLA•Tesla shares fell 2% Friday as the SpaceX IPO pushed its valuation above $2 trillion, surpassing Tesla’s $1.2 trillion market cap. The automaker’s stock has dropped this month with the Magnificent Seven losing over $2 trillion in value as investors shift into other sectors.
1. Tesla Share Slide
On June 12, Tesla shares fell about 2% as investor attention moved to SpaceX’s market debut, reflecting a shift in capital within the tech sector.
2. SpaceX Surpasses Tesla in Valuation
The SpaceX IPO pushed its valuation above $2 trillion, surpassing Tesla’s roughly $1.2 trillion market capitalization and fueling speculation about future corporate transactions.
3. Tesla’s Stake in SpaceX
Tesla holds SpaceX shares through a $2 billion investment in xAI that was later acquired by the aerospace company, giving the automaker a direct equity position.
4. Sector Rotation Dynamics
This month, Tesla and other megacap tech stocks have collectively lost more than $2 trillion as funds rotated into cyclical and defensive sectors to prepare for upcoming IPOs.
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