SpaceX and Tesla Stock Plunges Have Wiped About $450 Billion in Value Since the Midterms. Is It Time to Buy?
Yahoo Finance ·
The two companies helmed by the world's richest person have had a rough two-day stretch on the market. Tesla ( TSLA -10.77% ) closed at $398.50 on Election Day, and by 3:08 p.m. ET Thursday, it was trading at about $342, down 14%, representing a loss of about $225 billion in market value. SpaceX ( SPCX -9.05% ) fell from $141.31 to about $125, down 12%, or about $227 billion. Together, that's about $450 billion gone in two sessions, most of it on Thursday, when Tesla fell about 11% and SpaceX about 8%. To illustrate how steep the drop has been, SpaceX is now trading below its $135 IPO price from June.
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