Following the Democrats' victory in both chambers of the U.S. Congress, GLJ Research believes that a potential merger between SpaceX (SPCX) and Tesla (TSLA) will become slower, more costly, and less likely. For existing SpaceX shareholders, if the transaction originally required paying a high premium, a slower process could alleviate concerns about ceding too much equity, providing some support for valuations.

TradingKeyFri, Nov 6

Why Did Tesla, SpaceX Plunge? 'Musk Selloff' Erases $456 Billion in Two Days as Democratic Win Heightens Regulatory Risks

TradingKey - Elon Musk strongly backed Republican candidates in the 2026 U.S. midterm elections but failed to prevent the Democrats from taking control of Congress, leaving his companies facing fresh market pressure. Over the past two trading sessions, share prices of Tesla (TSLA) and SpaceX (SPCX) fell consecutively, resulting in a cumulative market capitalization loss of approximately $456 billion.

TradingKeyFri, Nov 6

SpaceX Falls Over 9%, Down Nearly 30% From October High; Musk Reposts Investor Analysis on Texas Proposed Pause on New Data Center Approvals

TradingKey - On November 5, Eastern Time, SpaceX (SPCX) shares fell 9.05% to close at $123.62, marking a second consecutive trading day of declines and retreating about 29.9% from its October intraday high of $176.42.

TradingKeyFri, Nov 6

SpaceX Stock Price Forecast: Plunges 9% in a Day to Near August Low, Risks Drop to $100 Mark

SpaceX's valuation plunged, tumbling 9% in a single day to approach its late-August low, with the market eyeing the key $100 psychological support level.

TradingKeyFri, Nov 6

US Stocks Tumble as Nasdaq Drops Over 4%; Micron Plunges Over 12% on Fears Slowing AI Data Center Expansion Will Dent Infrastructure Demand

On November 5, Eastern Time, the three major U.S. stock indices tumbled, with semiconductor and AI infrastructure stocks continuing to face pressure. The Philadelphia Semiconductor Index fell over 9%, hitting its lowest level since mid-April this year. AI infrastructure faces the potential threat of a slowdown in data center construction. A decisive Democratic victory in the midterm elections sparked investor concerns over tightening regulation in the data center sector. If potential construction pauses materialize, they could delay the deployment of computing capacity and the delivery of upstream equipment, prompting a reassessment of the timeline for future revenue realization.

TradingKeyThu, Nov 5

SpaceX Drops Over 7% Pre-Market: Democratic Control of Congress, Government Contract Review and Texas Data Center Policy Draw Attention

TradingKey - As of press time on November 4, Eastern Time, SpaceX (SPCX) fell over 7% in pre-market trading, currently trading at $130.64.

TradingKeyWed, Nov 4