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Tesla shares rise as investors weigh whether SpaceX’s IPO could pull money from TSLA
The Apex Times

THE APEX TIMES

Business/The Apex Times/Jun 8, 12:45 PM EDT

Tesla shares rise as investors weigh whether SpaceX’s IPO could pull money from TSLA

As SpaceX prepares to begin trading on Nasdaq on Friday, June 12, investors are watching for signs of “capital rotation” out of Tesla shares and into the new offering.

By The Apex Times Newsroom3 min readAI-assisted Apex article

Tesla shares were trading higher on Monday, June 8, as investors looked ahead to SpaceX’s IPO on Friday, June 12, focusing on a practical question: would some holders of Tesla stock sell in order to buy shares in SpaceX’s debut.

SpaceX, led by Tesla CEO Elon Musk, announced it has launched the roadshow for its initial public offering of 555,555,555 shares of Class A common stock, with an expected offering price of $135 per share. The company said it intends to list under the ticker symbol “SPCX” on Nasdaq and Nasdaq Texas. SpaceX also disclosed that it plans to grant underwriters a 30-day option to buy up to an additional 83,333,333 shares.

In its IPO filing materials, SpaceX also indicated that it is expected to commence trading on Nasdaq and Nasdaq Texas on June 12, 2026. Market commentary around the listing has emphasized its sheer scale, with reporting that the offering is designed to raise at least $75 billion, valuing the company at more than $1.75 trillion. The IPO is also expected to price Thursday evening before trading begins Friday under SPCX.

The concern for Tesla is less about fundamentals and more about timing and liquidity. In an analysis ahead of the listing, Fortune cited a note from BNP Paribas equity derivatives strategist Greg Boutle, arguing that large IPOs can come with substantial selling elsewhere as investors raise cash for new positions. That selling, the piece said, could be compounded by overlapping “same-way” flows, meaning many investors may want to buy and sell on similar schedules, increasing the risk of short-term price dislocations.

The “Musk complex” effect adds another layer. Tesla and SpaceX have been increasingly linked through Musk’s plans for artificial intelligence computing and manufacturing, even though the companies remain separate public entities. Reuters, describing Musk’s Terafab project, said Tesla, SpaceX, and Musk’s AI unit xAI intend to build two advanced chip factories in Austin, Texas, with one designed for Tesla vehicles and Optimus humanoid robots and another intended for AI data centers in space.

Terafab is central to why Tesla often trades like a proxy for Musk’s broader technology bets. Reuters reported that Musk described Terafab as covering chip production steps including design, and said Tesla planned to work with Intel’s next-generation 14A manufacturing process at the Terafab project. Axios similarly described Terafab as a joint effort of Tesla, xAI, and SpaceX aimed at producing large amounts of compute, beginning with an advanced technology fab in Austin.

Even so, what happens to Tesla’s stock around June 12 is still uncertain. Neither Tesla nor SpaceX has publicly quantified how much of Tesla’s shareholder base might sell specifically to participate in the SpaceX IPO, and investors’ behavior depends on brokerage access, lockups, liquidity needs, and allocations. The safest conclusion from the current reporting is directional: the IPO could attract incremental demand while also triggering portfolio rebalancing by investors who choose to fund that demand by selling other equities.

What to watch next is whether the relationship shows up in market mechanics. If Tesla’s relative performance weakens around SpaceX pricing on Thursday night and during Friday’s first trading session, it would support the idea that some holders are rotating capital. Conversely, if TSLA holds up despite the IPO’s demand pull, it would suggest that investors are funding SpaceX without putting as much pressure on Tesla as the market speculates. In either case, the trading details of IPO allocations and the pace of trading in SPCX should help clarify how concentrated the flows really are.

Why It Matters

  • A very large IPO can reshape short-term trading patterns across “adjacent” stocks, especially when investors share thematic exposure through a common CEO.
  • If investors fund SpaceX participation by selling TSLA, Tesla could face near-term volatility even without company-specific news.
  • If capital rotation is limited, Tesla may be able to capture “Musk empire” sentiment while avoiding a liquidity drain.
  • The Terafab linkage suggests investors may treat Tesla and SpaceX as parts of one AI and manufacturing story, which can increase cross-asset correlation around major events.
  • How the market digests IPO supply on June 11-12 could set expectations for other mega-listings later in the year.

Sources

Key Facts

  • SpaceX launched its IPO roadshow and said it expects an offering price of $135 per share for 555,555,555 shares, with an underwriter option for additional shares.
  • SpaceX applied to list the IPO on Nasdaq under the ticker SPCX, and its filing materials indicate trading is expected to begin on June 12, 2026.
  • Fortune reported that analysts expect IPO-related selling elsewhere in portfolios as investors raise cash to buy the new listing, with an emphasis on liquidity risks from large, overlapping flows.
  • Terafab is a joint technology plan involving Tesla, SpaceX, and xAI, described by Reuters as building advanced chip factories in Austin for Tesla/Optimus and for AI data centers in space.
  • Reuters reported that Musk said Terafab would involve chip production steps including design, and that Tesla plans to use Intel’s 14A manufacturing process for chips at the project.

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Tesla shares rise as investors weigh whether SpaceX’s IPO could pull money from TSLA | The Apex Times