Tesla Stock Decline Linked to SpaceX Setbacks
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BTCCSquare news:
Tesla shares fell 3% Wednesday amid growing investor concerns over SpaceX's financial pressures. The aerospace company has diverted 20% of its Falcon 9 engineering team to address Starship program challenges following a June explosion, triggering unease among SpaceX backers. These worries appear to be spilling over to Tesla investors despite the companies' separate structures.
The electric vehicle maker's 2.7% monthly decline comes at an inopportune moment, coinciding with its Robotaxi program expansion across U.S. states. While Tesla recently enjoyed a six-day rally fueled by strong demand expectations, analysts remain divided on valuation - with price targets spanning from $276 to more bullish projections.
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