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Financial
Tesla and SpaceX shares fall ahead of Starship V3 test flight
Tesla and SpaceX shares declined significantly this week, with Tesla experiencing its worst weekly drop since 2022, falling 18% to close at $313.03. SpaceX dropped 7.2% to $115.07, its lowest since its IPO. These declines erased about $130 billion of Elon Musk's wealth. Tesla reported second-quarter results with negative cash flow due to increased spending on futuristic projects like robotaxis, humanoid robots, and a large chip fab. SpaceX is preparing for the 13th test flight of its Starship V3 rocket, designed to be fully reusable and key to expanding the Starlink satellite network.
- Tesla fell 18% this week, worst weekly drop since 2022
- SpaceX dropped 7.2% ahead of Starship V3 test flight
- Musk's wealth decreased by approximately $130 billion
🔎 Why it matters: The Starship V3 version is crucial for SpaceX and its Starlink network, while Tesla faces cash flow pressure from investments in robotaxis and chip fab.
📈 Upside: The Starship V3 test flight could validate reusable rocket advances and support Starlink expansion.
📉 Risk: Tesla faces delays in profit growth and negative cash flow, impacting near-term shareholder returns.
🤖 Automated analysis and summary. Every story links its original source for verification.