Tesla shares fell 2% as investors cooled on speculative SpaceX merger hype after an analyst dismissed SpaceX’s $28.5 trillion total addressable market forecast as absurd. It followed a 2% rally that drove Tesla to its best month since September despite doubts over SpaceX’s AI valuation and its $4.9 billion losses.
Tesla shares dipped 2% in pre-market trading after a 2% gain the previous session, marking its strongest monthly performance since September as investors reassessed risks tied to SpaceX merger speculation.
Tech analyst Ben Thompson labeled SpaceX’s $28.5 trillion total addressable market estimate absurd, noting the company’s $18.67 billion 2025 revenue and $4.9 billion loss alongside escalating AI spending; voices ranged from Prof G co-host Ed Elson’s “trainwreck” verdict to ARK Invest’s Daniel Maguire defending Starship’s cost thesis.
Heightened caution over SpaceX merger hype prompted retail investors to pare Tesla positions, even as IPO excitement propelled space-related stocks like ASTS, RKLB and SIDU higher.
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