Investor reduces Tesla, SpaceX stakes amid merger speculation

A leading investor known for its long-term support of Elon Musk is reportedly reducing its stakes in Tesla and SpaceX, according to CNBC. This move comes amid significant market volatility following a broader selloff after the U.S. midterm elections, which saw Tesla and SpaceX shares decline by 11% and 9% respectively. These developments have raised questions about investor confidence in Musk’s ventures, especially as both companies are exploring a potential merger. The boards of Tesla and SpaceX have initiated independent committees to evaluate a merger, though no formal terms have been disclosed.

Source: Crypto Briefing