Key Notes
- Tesla gained 5.0% to $360.89 and SpaceX rose 6.3% to $131.46 in an approximately 16:52 UTC snapshot on November 6.
- Both shares remained below Wednesday’s closes after losing 10.8% and 9.0%, respectively, in Thursday’s selloff.
- The FAA proposed launch reforms while Tesla plans a mid-2027 Cybercab factory shift and SpaceX prepares a Starlink Mobile rollout beginning in 2027.
Shares of Tesla Inc. (Nasdaq: TSLA) and SpaceX (Nasdaq: SPCX) rebounded Friday, joining a recovery in technology stocks after a bruising selloff. The gains gave Elon Musk’s two listed companies some relief from a week dominated by concerns about AI spending and the regulatory consequences of the US midterm elections.
At approximately 11:52 a.m. Eastern time, or 16:52 UTC, on November 6, Tesla was trading at $360.89, up 5.0%, while SpaceX changed hands at $131.46, up 6.3%. The Nasdaq Composite was about 1.6% higher in the same Yahoo Finance market-data snapshot.
A Bounce After Two Days of Selling
Thursday had been particularly punishing. Tesla closed at $343.69, down 10.8%, and SpaceX finished at $123.62, a 9.0% decline. Both had also fallen Wednesday, leaving investors nursing losses even as much of the broader market initially welcomed the election result.
Friday’s recovery extended beyond Musk’s businesses. Chip stocks had rallied before the opening bell and continued higher in early regular trading after being among the biggest casualties of Thursday’s rout. The moves put Tesla and SpaceX within a wider recovery in the technology trade, rather than an isolated rally in two closely watched names.
The rebound also followed a stronger-than-expected jobs report. Employers added 165,000 positions in October and unemployment fell to 4.1%. That combination pointed to continued economic resilience, although it also reinforced expectations that the Federal Reserve could raise interest rates in December.
Launch Reforms Meet Data Center Politics
SpaceX had a fresh federal policy development to weigh alongside the market recovery. On Thursday, the Federal Aviation Administration announced three proposed rules and a technical final rule intended to streamline commercial launch and reentry licensing. It also plans to begin a broader overhaul of its licensing framework in 2027 and expand the staff reviewing spaceflight applications.
The proposals address flight-abort requirements and the analysis of vehicle breakup during reentry. For a company running frequent launches, the pace and predictability of approvals matter to its ability to schedule missions. The substantive proposals still have to move through the rulemaking process.
That federal agenda sits alongside a different debate in Texas, where proposed restrictions on new data centers helped drive the earlier selloff. Launch licensing and permission to build computing facilities fall under different processes. Easier access to one would not resolve the other, and the election result itself did not enact a nationwide construction ban.
Cybercab and Starlink Keep Investment in Focus
Tesla also had a manufacturing decision in the news Friday. Musk said the company plans to wind down Cybertruck production at its Texas factory around mid-2027 to make more room for Cybercab robotaxis. He did not specify whether the pickup would move to another plant or disclose the cost of converting the space.
The decision directs more of an existing factory toward Tesla’s autonomous-transport ambitions. Its financial return will depend on how quickly additional vehicles can be deployed and what they earn in service, as well as how many the assembly line produces.
SpaceX, meanwhile, is preparing a major expansion of its communications business. Qualcomm (Nasdaq: QCOM) confirmed this week that it will supply technology for Starlink Mobile’s planned nationwide terrestrial 5G network. Deployment is expected to begin in 2027, with tens of thousands of sites covered by the multiyear agreement.
Merger Talks Leave the Terms Open
The companies have also been examining a possible share-funded merger through independent board committees. Reuters previously reported options including a SpaceX acquisition of Tesla or a new holding company above both businesses. Those discussions have not produced an announced exchange ratio or definitive agreement.
Any share swap would put the relative valuations of TSLA and SPCX at the center of negotiations: the ratio would determine how much of the combined business each shareholder group owned. Friday’s rally changes those market valuations without supplying the terms of a transaction.
Wednesday’s closing prices still show how much ground remained to recover: $385.19 for Tesla and $135.92 for SpaceX. At Friday’s late-morning snapshot, the stocks were still 6.3% and 3.3% below those levels, respectively, despite comfortably outperforming the Nasdaq that day.
