SpaceX shares slip to $135.92 amid election-related and deal uncertainty

Share price moves lower

FXLeaders reports that SpaceX (NASDAQ: SPCX) began November 5 after closing Wednesday at $135.92, which was 3.81% below the prior close of $141.31. The article says the decline erased Tuesday’s rebound. It links the move to investors reassessing political and data-center risks after the U.S. midterm elections.

Election-related scrutiny and policy concerns

According to FXLeaders, Reuters described SpaceX as one of Wednesday’s weaker names after the Democratic congressional sweep. The piece says the stock’s relative weakness versus the broader market suggested investors were reconsidering policy exposure tied to government contractors and AI infrastructure growth. It also notes that an election result does not by itself change an existing contract or cancel a planned project.

Boost Mobile discussions remain unresolved

FXLeaders says a November 2 Reuters report, citing the Washington Post, reported that SpaceX had discussed buying Boost Mobile or gaining access to its network. The article says either approach could support Starlink Mobile. It stresses that the reported talks are still just negotiations and not a completed acquisition. The piece also says using an existing network arrangement could require carrier consent.

Revenue growth and spending levels

The article says SpaceX’s third-quarter earnings release reported revenue of $14.575 billion, a 161% increase from the same period a year earlier. It also says net income was $4.4 billion, compared with a $1.1 billion loss in the prior year. FXLeaders reports that Super Intelligence revenue reached $7.560 billion, above the Connectivity segment’s $5.248 billion. It adds that Super Intelligence capital expenditure was $16.444 billion, within total company capital expenditure of $19.593 billion.

Tesla discussions and chart levels

FXLeaders says Reuters reported that both companies’ boards formed special committees to examine a possible combination involving Tesla. The article adds that Barclays provided an illustrative scenario in which Musk could hold about 56% of the voting power if SpaceX acquired Tesla, but says this is only an analyst scenario and not a confirmed structure or agreement.

The piece also includes a technical chart reference based on November 4 data, saying $134 remains an important level, with $104.83 as deeper support. It says a move above $142.73 would improve the short-term picture. The chart also shows the 50-day average at $149.55 and higher resistance at $176.56.