The midterms hit Musk's companies. Tesla and SpaceX shares fell on Wednesday after Democrats won control of both chambers of Congress and Democrat Gina Hinojosa won the Texas governor's race.
CNBC reported SpaceX down 4% and Tesla down 5% after the open, and said Musk spent at least $474 million on the midterms, $224 million of it in Texas. CNBC called the Texas result a big worry for AI investors because around 25% to 30% of data center capacity is expected to come from the state.
Teslarati reported Tesla down 2.32% at about $389.30 around 1:45 p.m. ET and SpaceX down 4.49% at $134.97, as broader indexes stabilized. Moves were changing through the session.
For information only, not investment advice. Price targets and estimates are attributed to the named firms and data providers.
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Tesla's October volume in Germany was far below September's record but still almost four times last year's level; BYD and Leapmotor outsold it for the month.
