Tesla stock rose 4.6% to $399.15 on June 11, 2026, as SpaceX’s record-breaking $75 billion initial public offering moved toward completion, with the rocket company’s IPO priced at $135 per share and valued at approximately $1.77 trillion.
The gain marked a reversal after Tesla shares had declined nearly 10% over the previous week amid concerns that retail investors might sell Tesla holdings to fund SpaceX purchases. SpaceX allocated an estimated 30% of its IPO to retail investors—far more than typical offerings—which intensified worries about cross-selling pressure between the two Elon Musk-led companies.
The timing of Tesla’s recovery suggests those concerns may have been overstated. Barron’s noted that the stock jumped after SpaceX’s order book closed Thursday, indicating the acute selling pressure may have eased. The broader market also contributed to Tesla’s earlier weakness: the Nasdaq Composite fell roughly 6% over the same week, and Tesla’s higher volatility typically amplifies such declines.
Beyond the IPO mechanics, SpaceX’s public debut has reignited intense speculation about a potential merger between the two companies. Wolfe Research analyst Emmanuel Rosner said the IPO has turned the merger thesis into a “core thesis” for some Tesla investors. Rosner outlined potential synergies including stronger artificial intelligence capabilities through SpaceX’s xAI unit, expanded access to capital markets, and increased Musk voting control over a combined entity.
However, Rosner emphasized significant obstacles remain. “We see major hurdles including shareholder opposition, regulatory scrutiny, and a timeline that likely extends beyond 2027,” he wrote. Wedbush analyst Dan Ives has predicted a Tesla-SpaceX merger by 2027, citing joint development of Terafab, a facility to produce semiconductors, and shared AI platforms.
Near-term, merger anticipation could provide downside support for Tesla shares, but sustained momentum depends on execution of the company’s robotaxi network and Optimus humanoid robot, according to analyst commentary. SpaceX begins trading on Nasdaq under ticker SPCX on Friday, June 12, marking the largest IPO in market history by capital raised.
Sources
- Barron’s — Tesla stock movement on June 11, 2026, and SpaceX IPO order book closure details
- Roic AI / Wolfe Research — Merger speculation thesis and analyst Emmanuel Rosner commentary on synergies and obstacles
- Reuters — SpaceX IPO pricing at $135 per share and $75 billion raise target
- NBC News — SpaceX IPO price lock-in and $1.77 trillion valuation
- Yahoo Finance — SpaceX IPO structure and retail allocation details
