Investors are cheering the prospect of a SpaceX-Tesla megamerger. Shares in the rocket company soared around 9% at market open in New York on Wednesday after Elon Musk said that SpaceX and Tesla have begun to discuss the mechanics of a potential combination. Speaking on SpaceX’s earnings call on Tuesday night, Musk said that his
The boards of SpaceX and Tesla have each formed special committees to review a possible merger. The special committees, which consist of independent directors, were created at the request of shareholders, according to Elon Musk, CEO and the largest individual shareholder of both companies. “Because I’m a conflicted party, I can’t actually be in the
“In my opinion, 100%. It’s just a question of when,” says David Nicholson, the Chief Technology Advisor at The Futurum Group, a market research company. The unveiling of the Tesla Roadster last week – a futuristic electric car powered by SpaceX rocket thrusters – served as a “symbolic embodiment” hinting at the two Musk companies
It’s official: Tesla and SpaceX are in talks. Independent board members at the two Elon Musk-led companies have formed special committees to hash over a possible merger, Musk told investors during SpaceX’s third-quarter earnings call Tuesday. “These special committees consist of independent directors, and because I’m a conflicted party, I can’t actually be in the
Houston, we have an update on all that SpaceX-Tesla merger chatter. During SpaceX’s Tuesday earnings call, Elon Musk said both of the companies had created “special committees of independent directors” to discuss a potential merger. Musk, who helms both companies and owns billions of dollars in stock of each, said he can’t be part of
Big Tech is about to run a two-day gauntlet featuring some of the market’s heaviest hitters. Netflix and SpaceX report after the closing bell today. Meta and Tesla follow on Wednesday. All four are, in their own ways, expensive growth stories, and their earnings arrive at a difficult moment for markets. The AI trade has
