SpaceX and Tesla shares slid after the US midterm elections
Published November 6, 2026 · Updated November 6, 2026 · 3 sources
SpaceX and Tesla shares fell around the US midterms, per Business Insider. Closes for November 4 and 5 show both lower, as did the S&P 500 and Nasdaq-100.
The exposed companies and what ATLAS says about each
Price change between the last close before the event and the latest available close. It is a coincidence in time, not a cause-and-effect relationship.
SpaceX itself; its Class A shares fell after the midterms and are the subject of the trend. · Industrials
SpaceX is the company at the center of the story, and Business Insider says its shares slid after the midterms [3]. Its close was $135.92 on November 4 and $123.19 on November 5, down 9.37% between the two closes. The two dates are a coincidence in time with the reported slide, not proof of its cause.
Price between closes
$135.92 → $123.19Close of November 4 and November 5
Chance of a rise in 1 month
48%Probability of closing higher than today within 21 sessions.Normal range: half of the scenarios end between $111.43 and $134.43; 9 in 10, between $94.35 and $158.75.
Tesla shares also slid after the midterms, per the same report. · Consumer Cyclical
Tesla is exposed because Business Insider reports its shares also slid after the midterms, alongside SpaceX [3]. Its close was $385.19 on November 4 and $340.32 on November 5, down 11.65% between the two closes. This is a coincidence in time, not a demonstrated cause.
Price between closes
$385.19 → $340.32Close of November 4 and November 5
Chance of a rise in 1 month
49%Probability of closing higher than today within 21 sessions.Normal range: half of the scenarios end between $314.35 and $366.62; 9 in 10, between $274.29 and $420.16.
S&P 500 between the same closes (November 4 and November 5): 7,688.62 → 7,353.73 points, −4.36%.
Nasdaq-100 between the same closes (November 4 and November 5): 28,437.17 → 26,629.81 points, −6.36%.
What happened
Business Insider reported that Tesla and SpaceX shares slid after the US midterm elections, cutting Elon Musk's net worth by $33 billion [3]. Between the closes of November 4 and November 5, 2026, SpaceX (SPCX) and Tesla (TSLA) both ended lower, as did the broader indexes.
Business Insider reported that Musk's net worth sank by $33 billion on a day when Tesla and SpaceX shares slid after the US midterm elections [3]. The article describes that day as Wednesday [3].
The article says Musk was worth $865 billion at that close, per Bloomberg's Billionaires Index, and that Jeff Bezos, at $375 billion, was his nearest rival, leaving Musk $490 billion ahead [3].
Two other headlines concern SpaceX stock. One says it may trade below fair value on fresh AI compute news [1]. The other says it has 2 positives but is still falling [2]. Nothing beyond these headlines is drawn from those articles.
What ATLAS data show
ATLAS's fair value estimates are model outputs, not promises, and the data available for this group do not include a fair value figure or a distance to fair value for SpaceX or Tesla. One headline refers to SpaceX possibly trading below fair value [1], but it is headline-only and we do not attribute any method or number to it. For market context, the S&P 500 closed at 7,353.73 points on November 5 against 7,688.62 on November 4, down 4.36%. The Nasdaq-100 closed at 26,629.81 against 28,437.17, down 6.36%.
Two shares falling in the same window as an event is a coincidence in time, not evidence that one caused the other. The figures come from closing prices on November 4 and November 5, 2026, and may change. The source calls the day of the drop Wednesday, while the close comparison in our data runs from November 4 to November 5, so the dates may not line up exactly.
What you get with ATLAS
Fair value of each company, with its range, against today's price.
Chance of a rise in 1 month and the normal price range, from a calibrated model.
Earnings: next date, estimated EPS and surprise history.
Dividends and alerts by email when a company reports.
How much did SpaceX and Tesla shares fall between the two closes?
SpaceX (SPCX) fell 9.37%, from $135.92 on November 4 to $123.19 on November 5. Tesla (TSLA) fell 11.65%, from $385.19 to $340.32.
What did Business Insider report about Elon Musk's wealth?
It reported that Musk's net worth fell by $33 billion as Tesla and SpaceX shares slid after the US midterm elections, leaving him at $865 billion per Bloomberg's Billionaires Index [3].
How did the broad market move over the same two closes?
The S&P 500 fell 4.36% and the Nasdaq-100 fell 6.36% between the November 4 and November 5 closes.
Closing prices, fair value, probabilities, earnings and dividends: ATLAS own data as of November 6, 2026. How we calculate fair value.
Information, not advice. This content is informational and is not an investment recommendation or an offer to buy or sell securities. ATLAS estimates come from statistical models using public data, can be wrong, and past performance does not guarantee future results. Disclaimer
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