Investor interest in SpaceX seems immune to Musk’s interference
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Elon Musk’s takeover of Twitter sent Tesla’s stock price on a rollercoaster ride this year, as its value has correlated — largely negatively — with every move the social media company has made. But investor support for SpaceX seems immune to the drama.
When Musk first announced his intention to acquire Twitter in April, it was just weeks after Tesla stock hit its 2022 peak of $381.82 on April 4, according to Yahoo Finance data. Since then it’s been down fairly consistently – apart from the few outbursts when it looked like the Twitter transaction might not go through after all or that Musk was about to step down as Twitter CEO – and opened at $139.34 per share today, which corresponds to a discount of 63.5% from this year’s high.
Tesla stock chatter has also been ramping up lately, as Wall Street analysts dumped the investment amid predictions that Musk will sell more Tesla stock to keep Twitter afloat, making them less confident that it is a good buy.
But as all this drama continues to unfold, SpaceX, one of Musk’s other companies, appears not only shielded from the Twitter frenzy, but largely undeterred.
