Investor's Corner
Tesla’s mission is bearing fruit despite escalating attacks from critics
Elon Musk dubs Tesla as a company aiming to accelerate the world’s transition to sustainable transportation and energy. Since the company started with the original Roadster, Tesla has courted as many dedicated critics as it does supporters. A “Tesla Death Watch” was even published by an online publication back in 2008 as the traditional auto industry waited on what appeared to be the inevitable fall of Tesla.
As history would show, such as thing never came to pass. The Model S was released, followed by the Model X, and now, the Model 3. While the rollout of each of these vehicles was all but problem-free, the electric cars eventually made it to market, and once they did, they were received very well by Tesla’s consumer base. Tesla has grown significantly since the days of the original Roadster and the first-generation Model S, with the company recently manufacturing 5,000 Model 3 in a week during the end of Q2 2018.
In an interview with Bloomberg Businessweek, Tesla CEO Elon Musk stated that the Model 3 ramp was a “bet-the-company” situation, where the failure of the car would have resulted in the electric car company’s crash. During the same interview, Musk also noted that he believes the Model 3 ramp, which has left him with permanent mental scar tissue, is close to leaving production hell. With signs that the company is now attempting to sustain its capability to manufacture 6,000 Model 3 per week, such as more than 19,000 new VIN registrations during the first two weeks of July, Musk’s statements appear to be accurate.
The Tesla Model 3 Performance. [Credit: Tesla]
Despite these, Tesla has been met with continued criticism at every turn. A look at the company’s stock performance in July is indicative of just how divisive the company continues to be. Elon Musk has spent the last few months calling out what he believes is a bias in mainstream media about negative coverage on Tesla’s electric cars. This culminated in a period last May when the CEO openly clashed with journalists on Twitter after Musk suggested that he would start a website evaluating the credibility of news reporters, similar to how Yelp works with businesses. The aftermath of these clashes is still felt today, as proven by a New York Post article published last July 21 dubbing Musk as a complete “fraud.”
In social media, Tesla remains as divisive. Twitter alone is a platform where Tesla’s bulls and bears collide pretty much on an everyday basis. Since the departure of noted Tesla short-seller Montana Skeptic after Elon Musk allegedly called his boss to complain, efforts to undermine the company’s progress have escalated. Today, there is a group keeping the Burbank Airport, a lot used by Tesla to store its vehicles before delivering them to customers across the United States, under 24/7 surveillance. Latrilife, the person conducting the surveillance, claimed on Twitter that he has 350 employees and he deploys 2-person teams to document activity inside the airport lot. Critics of the company are under the impression that lots filled with Model 3 — the Burbank Airport being one of them — were proof that demand for the vehicle was decreasing and that customers are refusing delivery. The misinformation surrounding Tesla in social media has been so prevalent recently that even Vertical Research Group analyst Gordon L. Johnson ended up publishing an inaccurate note to clients about Tesla.
Amidst all this noise and the sensational headlines that Elon Musk triggers on Twitter, Tesla as a company has been quietly making progress in its goal to push the world closer to sustainability. Tesla Energy, a branch of the company that rarely makes the news, was lauded recently by Samoa for helping the island state reach its eventual goal of being powered 100% by renewable energy. During the 2018 Annual Shareholder Meeting, Elon Musk mentioned that another 1 GWh energy project would be announced in the near future. CTO JB Straubel also reaffirmed Tesla’s stance on the residential solar market, stating that the company is in no way stepping back from the residential energy industry.
Tesla’s vehicles are also starting to change the very perception of what cars can do. Jared Ewy, whose video of his family reacting to a surprise Model 3 became near-viral and attracted a Like from Elon Musk, noted in a blog post that he is in no way a “car guy.” Ewy wrote, however, that once he experienced a Tesla Model S, he knew that it was something different. That was why when the Model 3 became available; he opted to order the vehicle immediately. Professional auto journalists are giving Tesla’s vehicles their due as well, with the Model 3 Performance getting rave reviews from seasoned professionals. Among these is the Wall Street Journal‘s Dan Neil, who wrote a glowing review of the high-performance electric car (Neil eventually shut down his Twitter account amidst badgering from short-sellers and Tesla critics).
Even abroad, Tesla’s brand is becoming synonymous with forward-thinking companies that care about the future. In China, Tesla recently released its “Eagle Plan,” a role-playing program designed for children aged 5-12 that would enable kids to be familiar with the company’s products and sustainable energy solutions as a whole. According to information shared by Tesla owner @vincent13031925 on Twitter, the children’s program aims to educate and foster understanding of the company’s corporate mission, as well as its environmental protection significance. In South Australia, a plan is now underway to provide free solar panels and Powerwall 2 batteries to 50,000 low-income housing units as part of a virtual power plant, which could lower electricity bills in the region while providing backup power to the grid.
Elon Musk has firmly denied recent media reports suggesting that SpaceX has reduced its target valuation for an upcoming initial public offering.
The denial came directly from the SpaceX and Tesla frontman on his social media platform X, where he responded with a single word, “False,” to a post from ZeroHedge that cited Bloomberg sources.
This swift rebuttal underscores Musk’s ongoing effort to manage speculation surrounding one of the most anticipated market debuts in recent history.
False
— Elon Musk (@elonmusk) May 29, 2026
According to the disputed reports, SpaceX had lowered its IPO valuation goal to at least $1.8 trillion from previous ambitions exceeding $2 trillion.
The claims emerged amid growing anticipation for the company’s confidential S-1 filing, which positions it for a potential public listing as early as June.
Some had pointed to strong revenue growth, particularly from the Starlink satellite internet service, which contributed heavily to the firm’s 2025 figures of $18.7 billion. Yet challenges persist in other areas, including substantial investments and losses tied to ambitious projects like Starship development and artificial intelligence initiatives, which plan to make life multiplanetary eventually.
Musk’s response highlights a pattern in which he actively counters what he views as inaccurate portrayals of his companies’ trajectories.
SpaceX, already valued privately at extraordinary levels, stands as a cornerstone of Musk’s empire alongside Tesla and xAI. The entrepreneur has long emphasized the transformative potential of reusable rockets and global broadband access, factors that fuel investor enthusiasm despite operational hurdles.
By rejecting the valuation downgrade narrative, Musk signals confidence in SpaceX’s fundamentals and its readiness for public markets on terms favorable to its long-term vision. People have been waiting a very long time to invest in SpaceX, and the valuation, as well as the introductory share price, is not going to need adjusting.
They’ll have plenty of suitors.
This episode reflects broader dynamics in the technology sector, where rumors often swirl around high-profile entities. Musk’s direct engagement with media narratives serves to maintain transparency and control the narrative around his ventures.
As SpaceX prepares for greater scrutiny in public markets, the founder’s denial reinforces optimism about its prospects. Supporters argue that the company’s innovative edge positions it for enduring success, far beyond short-term valuation debates. With the denial now public, attention turns to forthcoming regulatory filings that could provide clearer insights into SpaceX’s strategy and financial health.
The coming weeks promise to reveal more about how SpaceX will transition into a publicly traded powerhouse.
Elon Musk
The Tesla and SpaceX merger everyone is talking about is quietly building
Tesla and SpaceX may be closer to merging than Wall Street or either company is admitting.
Elon Musk has reportedly discussed merging Tesla and SpaceX with people close to him, according to CNBC, which cited sources familiar with the conversation. Tesla employees have long expected such a transaction and the topic is openly discussed internally, according to internal sources. With SpaceX is days away from kicking off its Wall Street roadshow for what could be the largest IPO in market history, this would be the first time the company will have public market currency to execute a stock-for-stock deal with Tesla.
The financial logic for a merger would make sense. A combined SpaceX and Tesla would create a conglomerate spanning rockets, satellites, electric vehicles, AI infrastructure, and energy storage valued at roughly $3.35 trillion to $3.6 trillion based on SpaceX’s IPO target range and Tesla’s current market capitalization. The two companies are already more intertwined than most people realize. SpaceX bought $697 million worth of Tesla Megapack systems for xAI data centers and $131 million worth of Cybertrucks. Tesla invested $2 billion in xAI, which subsequently merged with SpaceX. Past transactions also include Tesla selling solar equipment and parts to SpaceX, and SpaceX helping with Cybertruck materials.
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Musk himself signaled where this was heading in November 2025 when he posted on X, “My companies are, surprisingly in some ways, trending towards convergence.” Tesla and SpaceX announced a joint semiconductor fabrication facility in Austin called Terafab on the Gigafactory Texas campus, covering two advanced chip factories, with one serving Tesla’s AI needs for vehicles and Optimus robots, the other targeting space-based data centers under SpaceX’s infrastructure vision.
Wedbush analyst Dan Ives places the probability of a merger at 80% to 90% with a target completion in the first half of 2027. The mechanics of a deal became possible the moment SpaceX filed its S-1. Legal experts said a merger likely would not spark antitrust issues but would raise concerns among shareholders in each company, with questions around which company would be the parent, how a stock swap would take place, and who determines the appropriate price. Musk holds about 20% of Tesla’s equity but controls 85.1% of SpaceX’s voting power through a super-voting share class, meaning he would largely be negotiating the terms with himself.
Not everyone is convinced the timing is imminent. Traders on Kalshi place only 33% odds that a merger will happen before May 2027. The more immediate concern for Tesla shareholders is whether the SpaceX IPO pulls capital and Musk’s attention away from Tesla before any merger consolidates the upside for both.
What is clear is that the structural groundwork is already being laid. The Terafab announcement, the xAI merger, the shared supply chain, the cross-company balance sheet transactions, and now the IPO all point in the same direction. Whether the merger follows in 2027 or later, the two companies are already operating more like divisions of a single entity than independent competitors.
Elon Musk
SpaceX just filed for the IPO everyone was waiting for
SpaceX filed its public S-1, revealing $18.7 billion in revenue and billions in losses.
SpaceX publicly filed its S-1 registration statement with the Securities and Exchange Commission on May 20, 2026, making its financial details available to the public for the first time ahead of what could be the largest IPO in history.
An S-1 is the formal document a company must submit to the SEC before going public. It includes audited financials, risk factors, business descriptions, and how the company plans to use the money it raises. Companies are required to file one before selling shares to the public, and it must be published at least 15 days before the investor roadshow begins. SpaceX had already submitted a confidential draft to the SEC in April, which allowed regulators to review the filing privately before it went public.
The S-1 reveals that SpaceX generated $18.7 billion in consolidated revenue in 2025, driven largely by its Starlink satellite internet division, which posted $11.4 billion in revenue, growing nearly 50% year over year. Despite that growth, the company lost about $4.9 billion in 2025 and has burned through more than $37 billion since its founding.
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A significant portion of those losses trace back to xAI, Elon Musk’s artificial intelligence company, which was recently merged into SpaceX. SpaceX directed roughly 60% of its capital spending in 2025 to its AI division, totaling around $20 billion, yet that division lost billions and grew revenue by only about 22%.
SpaceX plans to list its Class A common stock on Nasdaq under the ticker SPCX, with Goldman Sachs, Morgan Stanley, and Bank of America leading the offering. The dual-class share structure means going public will not meaningfully reduce Musk’s control, as Class B shares he holds carry 10 votes per share compared to one vote for public Class A shares.
The company is targeting a raise of around $75 billion at a valuation of roughly $1.75 trillion, which would make it the largest IPO ever. The investor roadshow is reportedly planned for June 5.
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