A month after SpaceX's IPO, Tesla stock is holding its ground
A month after SpaceX's record-breaking June 12 IPO, Tesla shares are trading close to that day's $406.43 close — the pre-IPO fear that SpaceX would drain Musk's attention and capital away from Tesla hasn't clearly played out one month in.
Ahead of SpaceX's IPO, some on Wall Street warned the mega-offering could pose an 'existential threat' to Tesla — the concern being that Musk's attention and capital would shift from Tesla toward SpaceX.
A month later, the picture isn't so clear-cut. Tesla opened at $399.49 on June 12, the day of SpaceX's IPO, closed that day at $406.43, and has recently been trading around $406.55 — holding steady with little drama.
SpaceX's own stock spiked early and quickly cooled. It priced at $135 and opened trading at $150, later dipping below that level before settling around $152.16 in recent trading — a relatively quiet outcome given all the attention around the deal.
For Tesla shareholders, the reassuring takeaway is that the feared scenario — SpaceX siphoning investor capital away from Tesla — hasn't clearly materialized one month in, though both stocks still have a short track record and the longer-term trend remains to be seen.
Summaries are prepared by the Tesla Briefing editorial team and may not capture every nuance of the original reporting. You are solely responsible for your own investment decisions.