Democrats take control of Congress, Tesla and SpaceX valuations drop
Business
After the Democrats took over Congress in the latest midterm elections, Tesla stock and SpaceX valuations dropped, Tesla by about 5% and SpaceX by nearly 6.9% before markets opened on November 4.
Investors are worried that new political leadership could mean tougher rules for Elon Musk's companies, especially since he's poured close to $450 million into GOP coffers.
Tesla-SpaceX merger and AI scrutinized
The election results have put future plans, like a possible Tesla-SpaceX merger and their AI projects, under extra scrutiny.
Both companies are based in Texas, adding to the uncertainty.
Musk even joked about the situation on X, but it's clear these political changes could seriously shape what comes next for his businesses.