"Musk premium" significant shift: After SpaceX went public, the combined narrative becomes an important valuation support for Tesla, Inc.

For shareholders of Tesla, Inc. (TSLA.US), this year has not been easy: the company's stock price has fallen by more than 10% year-to-date. Meanwhile, Elon Musk's SpaceX (SPCX.US) completed the largest IPO in history, becoming the highest valued entity in the business empire of this newly minted trillionaire. However, SpaceX's IPO also brought new hope for investors in Tesla, Inc. Many investors are betting that Musk will eventually push for a merger of the two companies. Some analysts believe that if SpaceX's stock price continues to decline, Tesla, Inc. shareholders will be more willing to accept a merger proposal. A merger of the two companies would create a giant tech conglomerate, poised to join the ranks of the top global tech companies such as NVIDIA Corporation, Alphabet Inc. Class C, and Apple Inc. The market's optimistic expectations for a merger may be a core reason for the relatively strong performance of Tesla, Inc.'s stock price. Despite the hype surrounding SpaceX's IPO quickly fading, Tesla, Inc.'s stock price has remained stable since the IPO, and has risen in the past two trading days, surpassing the $400 mark once again. The stability of Tesla, Inc.'s stock price post-SpaceX IPO Ivan Feinseth, Chief Investment Officer at Tigress Financial Partners, believes that SpaceX's IPO has brought a "narrative catalyst" for Tesla, Inc. Dave Mazza, CEO of Roundhill Financial, who holds shares in Tesla, Inc., expressed more confidence in a potential merger of the two companies compared to before SpaceX's IPO. Mazza said, "For years, Tesla, Inc. was the only publicly listed entity with a Musk premium, but now the situation has changed. SpaceX can more purely carry the investment logic of artificial intelligence and the space race. The fact that Tesla, Inc.'s stock price can stabilize above $400 is because the market is already trading the potential merger premium." Despite both Tesla, Inc. and SpaceX being controlled by Musk, their business fundamentals are not inherently compatible. Tesla, Inc. is one of the world's most successful electric vehicle companies, currently expanding its autonomous driving business and developing the humanoid Siasun Robot & Automation Optimus; SpaceX focuses on manufacturing and launching rockets and satellites, striving to send humans to Mars. Both companies are involved in artificial intelligence and require significant funding to support their development. SpaceX acquired the Maker of Grok Chat Siasun Robot & Automation AI in February of this year. SpaceX is currently collaborating with Tesla, Inc. on the Terafab semiconductor manufacturing project. Pricing as a Merger "Roadblock" The difficulty of this potential merger lies in pricing, and the significant fluctuations in SpaceX's stock price further complicate the pricing challenge. As of Monday's...