Investors have dumped Tesla and SpaceX stock since the blue wave election
Investors have dumped Tesla and SpaceX stock since the US midterm elections. Elon Musk's companies lost over $420 billion in combined market cap. The decline follows Musk's significant spending on Republican campaigns and his public support for conservative candidates.
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- ✓ Elon Musk's Tesla and SpaceX lose over $420 billion in combined market cap after midterms
- ✓ Investors have dumped Tesla and SpaceX stock since the blue wave election
- ✓ Musk has little to show for his record spending on Republican campaigns in US midterms
- ✓ Elon Musk Deletes Midterm Posts After Stunning Election Losses
What changed
The market capitalization of Tesla and SpaceX plummeted in the aftermath of the midterm elections, with losses exceeding $420 billion.
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Tesla and SpaceX lose over $420 billion in market cap after US midterms
Investors have dumped Tesla and SpaceX stock since the US midterm elections. Elon Musk's companies lost over $420 billion in combined market cap. The decline follows Musk's significant spending on Republican campaigns and his public support for conservative candidates.
Why it matters
The midterm elections resulted in a Democratic-controlled Congress, which is expected to increase regulatory scrutiny of Musk's businesses. Musk's efforts to influence the election outcome through financial support and social media posts appear to have backfired.
What is confirmed
- Elon Musk's Tesla and SpaceX lose over $420 billion in combined market cap after midterms
- Investors have dumped Tesla and SpaceX stock since the blue wave election
- Musk has little to show for his record spending on Republican campaigns in US midterms
- Elon Musk Deletes Midterm Posts After Stunning Election Losses
Still unconfirmed
- Elon Musk is about to learn how much America hates him
What to watch next
- US Congressional investigations into Elon Musk's business practices
- Tesla and SpaceX stock performance in the coming weeks
- Elon Musk's future public statements and social media activity
confidence 85%Sources used for this update (21)
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