“Guess My Election-Interfering Space Lasers Didn’t Work” — Musk Reacts To Republican Defeat As Tesla, SpaceX Shares Fall

Tesla and SpaceX shares dropped over 4% premarket Wednesday after Democrats won key races in Texas. Elon Musk spent $224M supporting Republican candidates, according to The New York Times. If losses hold, the companies could lose over $140B in market value. Musk faces increased regulation from Democratic officials in Texas, home to Tesla's Austin gigafactory and SpaceX's Starbase facility.

Tesla shares fell 4.5% in pre-market trading to $380.55 after early U.S. midterm election results showed a Democratic win, raising regulatory concerns. The stock is 23.7% below its 52-week high. Merger speculation with SpaceX and weaker China production data added to pressure. The S&P 500, Dow, and Nasdaq rose slightly, highlighting Tesla's idiosyncratic decline.

A South Korean consumer group plans to ask the KFTC to halt Tesla's marketing of Full Self-Driving (Supervised) due to legal restrictions on China-built vehicles. Tesla sold the software to buyers whose cars cannot legally use it. The KFTC may impose fines and investigate. Tesla faces similar challenges in other jurisdictions, including rebranding and lawsuits.

Tesla (TSLA) stock fell 4.5% in pre-market trading to $380.55 following early U.S. midterm election results suggesting a Democratic victory, which investors view as a risk to Elon Musk's business interests. Concerns include increased regulatory scrutiny, potential investigations, and uncertainty over a possible Tesla-SpaceX merger. Analysts note the merger could dilute Tesla shareholders and give Musk disproportionate voting control.

A consumer group plans to file a complaint with the Korea Fair Trade Commission against Tesla, alleging that the company sold Full Self-Driving (Supervised) software to South Korean customers whose cars cannot legally use it. The group claims 'tens of thousands' of customers are affected, with the software priced at 9.043 million won ($6,726). Tesla has not publicly commented on the allegations.

Tesla is accused by a South Korean consumer group of misleading marketing regarding its Full Self-Driving capabilities. The organization alleges that Tesla's claims are deceptive, potentially impacting the company's reputation and regulatory standing in the region.