SpaceX Shares Slide 45% From Record Despite 161% Revenue Growth
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SpaceX shares fell $12.61, or 9.28%, to $123.31 on Thursday, extending a selloff that began after Tuesday's midterm elections and leaving the stock about 45% below its $226 record high. The decline cut SpaceX's market value to roughly $1.66 trillion despite revenue growth of 161%. Investors are concerned that Democratic control of Congress could block a merger with Tesla. The stock's sharp pullback from its peak underscores how heavily sentiment around the Tesla combination weighs on valuation. What to watch next is whether merger talks advance or stall under the new congressional makeup.
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SpaceX (SPCX), Tesla (TSLA), Democratic Party
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