Tesla Inc. (NASDAQ:TSLA) and Space Exploration Technologies Corp. (NASDAQ:SPCX) shares are trending on Wednesday.
Tesla shares climbed 2.03% to $381.3 in the pre-market session on Wednesday, whereas SpaceX shares rose 8.74% to $160.7.
The surge in early trading follows comments from CEO Elon Musk on SpaceX’s third-quarter earnings call Tuesday, where he confirmed that both companies have formed special committees to weigh a possible combination.
Musk Confirms Committees, Warns No Certainty
Musk said the committees were formed “at the request of shareholders” and consist of independent directors. Because he is a conflicted party, meaning he has a personal stake in both companies, he cannot take part in their discussions.
He also cautioned against treating a merger as inevitable. Assuming a deal is certain “would be overstating it,” Musk said. Still, he made his own view clear, “Do I think it would be a good idea? Yes.”
Strong SpaceX Q3 Earnings Add to Investor Momentum
The merger news arrived alongside a strong quarter. SpaceX posted revenue of $14.58 billion, topping analyst estimates of $12.94 billion by 12.7%. Earnings came in at 35 cents per share, surpassing the expected 16 cents by 118.8%.
Revenue from its Super Intelligence segment jumped 830% year-over-year to $7.6 billion.
Trading Metrics
| Metric | Tesla | SPCX |
|---|---|---|
| Market Capitalization | $1.48 Trillion | $2.01 Trillion |
| Annual Range | $297.38–$498.82 | $104.83–$225.64 |
| 1-Month Performance | -0.42% | -2.67% |
| Relative Strength Index (RSI) | 53.68 | 45.08 |
Price Action: According to Benzinga Pro data, TSLA shares closed on Tuesday at $373.71, up 1.54%, while SPCX closed at $147.79, down 0.11%.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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