Tesla (TSLA) soars as market see SpaceX’s success as credibility boost for Elon Musk
On Saturday, SpaceX successfully launched its Dragon spacecraft with NASA astronauts Bob Behnken and Doug Hurley on board — becoming the first private company to send humans to the International Space Station
On Saturday, SpaceX successfully launched its Dragon spacecraft with NASA cosmonaut Bob Behnken and Doug Hurley on board — becoming the first private company to send humans to the International Space site.
The historic moment is a major milestone for Musk’s SpaceX, and while it doesn’t seem to have much to do with the CEO’s other corp, Tesla, some are attributing the stock price surge to
That’s despite the fact that little info came out about the automaker since the market close last week, despite the accelerated delivery timeline for Model Y.
Some people attribute Tesla’s stock price boost to SpaceX’s successful mission this sunday.
Wedbush analysts Dan Ives wrote in a sign to clients today:
While SpaceX and TSLA are separate companies despite some R&D cross pollination in some key areas, from a consumer perspective the Elon DNA remains the linchpin to both of these next generation technology stalwarts and we would characterize the historic success of SpaceX as another major shot in the arm to the Tesla brand.
Adam Joans, analyst at Morgan Stanley, post something similar today:
In our opinion, Musk is every bit as identified with the creation and desire of SpaceX as he is with Tesla. As such, we believe the success of SpaceX in achieving some of the most sophisticated challenges in science has a direct bearing on audience, investor and government perception of his ability to lead and execute. So does Elon Musk’s success (or lack thereof) at SpaceX have any bearing on the market’s perception of Tesla? In our opinion, it does. While we cannot ascribe a $ amount to this factor, the credibility of Musk’s leadership even outside of the automotive business, matters to Tesla.
While Musk’s boosted profile due to Space’s success might have a positive impact on TSLA, the autocompany also got some good direct advertising during the launch.
many people watch the live stream of the mission and they saw the astronauts being transported to the launchpad in Tesla Model X vehicles, which are the new official NASA vehicles to transport astronauts.