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Musk’s Tesla and SpaceX decline after Democratic Midterm sweep
Tesla and SpaceX shares fell on Wednesday after Democrats won control of both the House and Senate, while broader markets rallied. Tesla stock slipped 2.32% to about $389.30 and SpaceX dropped 4.49% to $134.97. Analysts linked the declines to Elon Musk’s estimated $450‑$474 million political spending, much of it aimed at Texas races that now have a Democratic governor and senator. In Texas, the Austin Gigafactory, robotaxi pilots and planned AI compute expansions face a state executive who opposed [...]