Advertise
SpaceX Stock Premarket Today: SPCX Drops 5% As Texas Flips Democratic
Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.
SpaceX shares fell 5.20% in premarket trading on Wednesday to $133.96, down $7.35 from Tuesday’s close of $141.31, as Democratic victories in Texas raised new questions for Elon Musk’s companies. The drop wipes out Tuesday’s 3.62% gain. Musk spent about $224 million backing Republican candidates in Texas, where SpaceX runs its Starbase launch site, but Ken Paxton and Governor Greg Abbott both lost. Governor-elect Gina Hinojosa has called for a pause on new data centres and an end to industry tax breaks, which could affect SpaceX’s AI expansion plans. Tesla also fell nearly 5%. SpaceX stock has dropped about 38% from its all-time high of $226, reached days after its June listing. Musk is set to speak with Ron Baron at Baron Capital’s investment conference in New York on November 6.
Was this writing helpful?
Trust with CoinPedia:
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
