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Musk Shares Shed $430B
Tesla and SpaceX have lost more than $430 billion in combined market value since the announcement of the US midterm election results, amid investor concerns that regulatory restrictions on Elon Musk’s projects could tighten. Tesla shares fell as much as 10%, following an earlier 3.3% decline, bringing their losses since the start of the year to around 22%, while SpaceX shares dropped 9.2%. Analysts attributed the sell-off to growing concerns about regulation and scrutiny, a slowdown in data center construction, and uncertainty over the new administration’s direction in Texas.
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