Shotwell Gwynne sold $52.5M of SPCX

SpaceX (SPCX) and Tesla (TSLA) shares dropped 1.75% and 2% respectively, following Democratic gains in U.S. midterms, raising concerns over federal oversight. SpaceX may face inquiries into satellite communications contracts, while Tesla could see scrutiny on autonomous-driving safety and AI infrastructure. Democratic control could lead to closer examination of government agreements.

Space Exploration Technologies Corp (SPCX) stock fell 4.5% in pre-market trading after U.S. midterm elections resulted in Democratic victories, raising concerns about investigations and regulatory hurdles. Analysts highlighted long-term cash flow projections but noted high capital expenditure requirements. Broader market gains contrasted with SPCX's decline, attributed to political risks and post-IPO share unlocks.

Morgan Stanley analyst Adam Jonas upgraded SpaceX's (SPCX) revenue and earnings estimates, predicting positive cash flow by 2031, four years earlier than previously expected. The firm raised 2027 revenue estimate to $175 billion and cut projected debt issuance by $280 billion. SpaceX shares fell 5.24% to $133.91 during overnight trading on Tuesday.

SemiAnalysis estimates SpaceX (SPCX) could reach 13 GW of data center capacity by 2027, outpacing competitors. The firm notes SpaceX's rapid construction timelines, with some facilities built in 4-5 months. Google and Anthropic's computing agreements with SpaceX have a combined annual value of $26 billion. SPCX stock rose 4% on Tuesday to $141.31. Power supply remains a constraint, with a potential shortfall exceeding 300MW at Colossus 2.

Intuitive Machines (LUNR) stock rose 8% to $10.63 after securing a third NASA Earth science contract in six months, though it's still down 35% YTD. The company has a record backlog of $1.8B and expects $900M-$1B in 2026 revenue. Rocket Lab (RKLB) and SpaceX (SPCX) also gained 5% and 3%, respectively, amid a broader space-stock rally.

SpaceX is reportedly in talks to acquire Boost Mobile or access its network, which has 7.38 million subscribers. This could accelerate SpaceX's wireless plans, undercutting Verizon's 4-6 year estimate. Boost's network leases may require approval from AT&T and T-Mobile. Verizon and AT&T are expected to see less than 2% annual revenue growth through 2028, leaving little room for price competition.