Tesla and SpaceX shares fell on Wednesday, Nov. 4, after Democrats won both chambers of Congress, even as broader markets recovered, Teslarati reported. Tesla was down 2.32% at about 1:45 p.m. Eastern time, trading around $389.30. SpaceX, which Teslarati listed under the ticker SPCX, traded at $134.97, down 4.49%, in live trading the same day. The report tied the pressure not only to Elon Musk's political spending, estimated at $450 million to $474 million this cycle, with roughly $224 million directed at Texas, but also to results in that state: Teslarati said Tesla now faces a Democratic governor and a Democratic senator after Gina Hinojosa unseated Greg Abbott and James Talarico defeated Ken Paxton.
The Austin Gigafactory, Robotaxi pilots in multiple Texas cities, and any related AI compute expansion, the report said, now sit under a new state executive who campaigned against certain corporate subsidies and floated a moratorium on new data-center construction. Federally, Teslarati wrote that Democratic control of key committees could bring deeper examination of Tesla's autonomous-driving safety record, energy-storage and manufacturing incentives, and the national-security implications of any combination with SpaceX. Investors, it said, are also weighing whether the company's alignment with the prior Republican leadership will mean slower permitting, additional hearings, or tighter rules on Full Self-Driving. Those points are the publication's market analysis, not enacted bills or scheduled hearings.
For SpaceX, Teslarati said the same Texas result places Starbase and the company's headquarters under a new Democratic governor, and that Democratic control of Congress could mean closer scrutiny of NASA, Defense Department and other contracts, of Starlink's national-security uses, and of any Tesla merger. Analysts cited in the piece have noted that committees can hold hearings and request documents. The article framed deliveries, energy deployments, Robotaxi rollout, Starlink growth and launch cadence as still-intact core drivers, while arguing that both stocks were carrying a higher political-risk premium after the election. This account reports the Nov. 4 prices and the Teslarati explanation; it does not treat slower permits or a blocked merger as facts that have already occurred.
The verified news is a one-day decline, with the published prices and percentages, after a Democratic midterm sweep, plus Teslarati's account of Musk's spending and the Texas races. It is not a later-week closing price, and it is not a new statute changing Tesla or SpaceX operations. Those Wednesday prices, $389.30 for Tesla and $134.97 for SpaceX, are intra-day figures from Teslarati's Nov. 4 account, not later weekly closes, and the political-risk discussion in the same piece should be read as analysis of what investors were pricing in, not as a list of actions already taken by the new Congress or the incoming Texas leadership.