SpaceX Stock Premarket Today: SPCX Drops 5% As Texas Flips Democratic

Published by

Anjali Belgaumkar

November 4, 2026

Elon Musk next to a SpaceX facility under a falling red stock market arrow.

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.

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