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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In a move reflecting a significant shift in the tech investment landscape, Tesla shares faced selling pressure as SpaceX officially debuted on the stock market. According to reports, Tesla shares fell 2.36% as SpaceX stock opened at $150, representing an 11% jump from its $135 IPO price. SpaceX's market capitalization surged past the $2 trillion threshold after shares climbed above the $160 level during the session.
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Sign InThis price action comes amid growing speculation that investors are reallocating capital from the electric vehicle sector into the burgeoning space industry. Compared to peers, the technology sector is seeing mixed pressures; market data suggests this massive listing puts SpaceX in direct competition for liquidity with mega-cap names like Nvidia and Apple. Per market data, SpaceX's $2 trillion valuation marks it as one of the largest newly public entities in the last decade.
Regarding current levels, TSLA closed at $397.15 (close June 12, 2026) after hitting an intraday low of $391.89. Traders are now monitoring support levels near $390 to gauge the persistence of the capital rotation trend. Looking at the economic calendar, there are no major catalysts scheduled for Tesla in the coming week, leaving the stock's performance largely tied to the liquidity flows surrounding the SpaceX IPO momentum.