Elon Musk's wealth evaporates by 130 billion dollars as Tesla and SpaceX shares plunge

EarningsPrice Action Impact 4
โดย Money & Banking·Read original
Summary · why it matters

Elon Musk's wealth has shrunk by about 130 billion US dollars in a matter of days, following a sharp decline in Tesla and SpaceX share prices. Tesla stock tumbled 18% for the week, closing at 313.03 dollars, marking its worst weekly drop since 2022 and a roughly 30% decline since the start of the year. Meanwhile, SpaceX shares fell 7.2% to close at 115.07 dollars, the lowest level since its stock market debut last month, and are down about 43% from their peak on June 16. The main pressure came from Tesla's weaker-than-expected second-quarter results, with free cash flow turning negative after accelerated investment in long-term projects such as self-driving taxis, humanoid robots, and a large-scale chip factory. SpaceX faced selling pressure as the initial post-IPO buying momentum faded, with investors eyeing the 13th test flight of Starship V3, a new fully reusable rocket that is central to plans for expanding the Starlink network as well as missions to the moon and Mars.

Impact on stocks 2

Electrification & Mobility▼ · 1 stocks
Tesla Inc
TSLA
▼ NegativeCapitalrelevance

Tesla stock tumbled 18% for the week after weaker-than-expected Q2 results and negative free cash flow.

Artificial Intelligence▼ · 1 stocks

Theme Impact 5

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