Investors’ interest in SpaceX seems to be independent of Musk’s intervention

The purchase of Elon Musk Twitter has sent Tesla’s stock price on a roller coaster ride this year as its value correlates — mostly negatively — with every development at the social media company. But SpaceX’s support from investors appears to be free of drama.

Back in April, when Musk first announced his interest in acquiring Twitter, it was a few weeks after Tesla’s stock hit a 2022 price high of $381.82 on April 4, according to Yahoo Finance data. Since then, it’s been steadily declining — except for the explosions that occurred when Twitter’s marketing may not have been after all, or when Musk stepped down as Twitter’s CEO — and today at $139.34 a share, it’s up 63.5% by a hair’s breadth. This year is high.

The chatter around Tesla stock has increased recently, with Wall Street analysts writing off the investment as they predict that Musk will sell more Tesla shares to take care of Twitter.

But as all of this drama continues to unfold, one of Musk’s companies, SpaceX, is not only immune to the Twitter noise, it seems less desperate.

Source link

Related posts

Leave a Comment

7 + three =