Tesla Falls 1.6% While SpaceX Surges 5%, Market Cap Gap Widens to $800B

On Tuesday, June 16, Tesla fell 1.6% to close at $404.66 per share, while SpaceX rose nearly 5% to $201.80 per share. The move pushed SpaceX's market valuation to approximately $2.6 trillion, surpassing Tesla's fully diluted market cap of around $1.8 trillion. SpaceX has gained nearly 50% since its IPO price of $135 per share.

Tesla's second-quarter delivery numbers, due in coming weeks, could provide near-term support for the stock. Goldman Sachs analysts led by Mark Delaney project Q2 deliveries of 420,000 units, exceeding the FactSet consensus of 409,000 units. Longer-term, investors are focused on Tesla's artificial intelligence progress, including expanded Robotaxi services across four cities and the anticipated launch of the next-generation Optimus humanoid robot this summer.