‘SpaceX is his new baby at the expense of Tesla’: Elon Musk’s IPO could be bad news for his EV maker, investors warns
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Elon Musk’s “ Muskonomy ” is growing, but it may spell trouble for Tesla.
Key facts
The company’s IPO prospectus reveals a full-year revenue of $18.7 billion in 2025, a 33% year-over-year increase from 2024, but also that its losses are expected to similarly swell as it looks
It’s sexy,” Ross Gerber, a Tesla investor and CEO of investment firm Gerber Kawasaki, told Fortune
SpaceX being the new belle of the ball will only mount pressure on Tesla, according to Dave Mazza, CEO of Roundhill Investments
This cannot be a positive for Tesla,” Joe Gilbert, portfolio manager at Integrity Asset Management, told Bloomberg
Summary
SpaceX’s pending IPO reportedly scheduled for June will double Musk’s publicly traded companies, joining Tesla as a target for investors betting on the CEO’s moonshot goals around automation and space exploration. “This cannot be a positive for Tesla,” Joe Gilbert, portfolio manager at Integrity Asset Management, told Bloomberg. Tesla has had a difficult year: It saw the company’s first full-year revenue decline in its history last year, and despite improved sales in the first three months of this year, deliveries have fallen below analysts’ expectations, and production has continued to outpace sales. Though its stock is down about 5% year-to-date, Tesla’s stock trades well above what its fundamental performance reflects, according to analysts.