Investor Gary Black of The Future Fund LLC suggests that the upcoming SpaceX IPO could be the reason behind the recent decline in Tesla Inc.’s stock price.
SpaceX IPO and TSLA Decline
Black shared a screenshot of a post by influencer Sawyer Merritt, which stated that SpaceX would issue a significant amount of equity for future acquisitions or transactions. This equity could be used to acquire TSLA, which would be roughly 28% dilutive, resulting in a combined market cap of over $3 trillion.
OpenAI’s Robotics Push
On the other hand, OpenAI CEO Sam Altman announced that the company is hiring to produce “robots that are useful for society.” Altman outlined that short-term goals for the endeavor would see OpenAI manufacturing robots that would “support skilled workers” in manufacturing. In the long term, the company imagines everyone having a personal robot that can do anything they need.
Potential Rival for Tesla’s Optimus Robot
OpenAI’s simulation arm has transitioned into “OpenAI Robotics,” with rapid progress. This could potentially lead to the production of a rival for Tesla’s Optimus humanoid robot, which recently received a boost after Tesla filed for a lens cleaning patent that could help its autonomous operations.
Tesla Stock Performance
According to recent rankings, Tesla scores well on Growth and Quality metrics, while also providing a favorable price trend in the Short, Medium, and Long term. However, Tesla shares were down 4.57% at market close on Monday to $415.88, further declining 0.56% to $413.57 during the after-hours trading session.
Conclusion
The upcoming SpaceX IPO and OpenAI’s robotics push could have significant implications for Tesla’s stock price and the future of the tech industry. As the market continues to evolve, it will be interesting to see how these developments unfold and impact the companies involved.