SpaceX rises in premarket trading as Tesla merger premium concerns grow

Premarket move

Coinpedia reports that SpaceX shares rose about 1.2% in premarket trading on Tuesday, reaching $138.00. The article says this followed a 1.22% gain in the previous trading session, when the stock closed at $136.37.

Recent trading backdrop

According to Coinpedia, the price increase came after three consecutive days of losses last week. The source says those declines followed T-Mobile's rejection of a wholesale network deal.

Tesla merger discussion

Coinpedia says investors are also assessing the possibility of a Tesla merger. Gary Black of The Future Fund warned Tesla shareholders that if a deal were funded with stock, it might not deliver the level of premium many investors expect.

Example cited by Black

The article says Black pointed to Marvell's roughly $115 billion all-stock offer for Lumentum as a comparison. Coinpedia reports that the offer carried a 24% premium, but that Lumentum fell about 15% and Marvell declined around 26% after the talks became public.

Longer-term outlook mentioned in the article

Coinpedia also notes that a Motley Fool forecast sees SpaceX reaching about $175.25 by the end of 2027. The source adds that the bullish case in that forecast is near $233.