Seeking Alpha says SpaceX shares fell after the post-midterm selloff

Post-midterm share weakness

Seeking Alpha reports that Space Exploration Technologies Corp., or SpaceX (SPCX), and Tesla (TSLA) were among the biggest losers on Wednesday, November 4, after the midterm-related selloff. The article says SpaceX shares fell 7%, while Tesla dropped 5%. It also says Elon Musk was likely the biggest loser, after spending more than $500, though the text shown cuts off before completing that point.

The article's overall view

In its summary, Seeking Alpha says SpaceX remains a Buy even after the recent volatility. The article ties that volatility to a more difficult regulatory outlook following a Democratic sweep. It frames the stock as having sold off along with broader post-midterm weakness, but says that does not change its positive stance.

Quarterly results and operating performance

Seeking Alpha says SpaceX posted strong third-quarter results. It reports GAAP earnings per share of $0.35, which beat consensus, and says revenue increased 162% to $14.6 billion. The article also says net income reached $4.4 billion for the quarter. Those figures are presented as evidence that the company’s recent financial performance remained robust despite market pressure.

Updated outlook and valuation

The article says management raised its sales and earnings forecasts for 2027. It adds that per-share earnings are now expected to approach $6 by fiscal 2028. Seeking Alpha also says the stock’s valuation in the low to mid-$200s still looks reasonable, but notes that investors should remain cautious because of high capital intensity, cash burn, and regulatory risk.

Disclosure and sourcing

The article includes the author’s disclosure that they hold no position in the companies mentioned and have no plans to initiate one in the next 72 hours. Seeking Alpha also states that its analysts are third-party authors and that past performance is not a guarantee of future results.