Why did TSLA move on Jun 2, 2026?
20:31 ET · AI-sourced explanation · gemini-flash-latest
Tesla (TSLA) stock experienced volatility on June 2, 2026, driven by news surrounding Elon Musk's other major venture, SpaceX, which was preparing for its historic initial public offering (IPO). Around 20:13 ET, reports emerged that SpaceX had officially targeted an IPO subscription price of $135 per share to raise $75 billion. This concrete pricing update fueled ongoing market concerns regarding capital diversion, as investors worried the massive, highly anticipated SpaceX offering would compete directly for the same pool of capital currently invested in Tesla.