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StocksMediumUpdated•Originally published 22 October 2026•Updated 22 October 2026•
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Meta and Tesla Shares Slump Premarket Amid $3.7 Trillion SpaceX Merger Reports

Key Facts

1Meta and Tesla shares turned negative in pre-market trading, surrendering initial gains following their earnings reports.
2Reports suggest Elon Musk is rushing to seal a $3.7 trillion merger between SpaceX and Tesla.
3Meta announced a 2-for-1 stock split via non-voting shares to offset a $9.9 billion legal charge.

Tesla shares fell 2% in recent trading despite the company's third-quarter earnings beating analyst expectations. This decline occurred as the Nasdaq index dropped by 400 points, while Meta shares retreated following its announcement of a 2-for-1 stock split via non-voting shares to offset a $9.9 billion legal charge, according to investinglive.com. Meanwhile, reports suggest Elon Musk is moving to finalize a merger between SpaceX and Tesla valued at approximately $3.7 trillion.

Meta closed at $697.52 on October 21, 2026, while Tesla shares closed at $386.47 on the same date prior to the latest session. Selling pressure extended across the technology sector, with MSFT closing at $532.95 and GOOGL at $334.76 on October 21, 2026. Netflix also saw its shares close at $65.04 that day amid broader market caution.