Investor Gary Black of The Future Fund LLC thinks that the upcoming SpaceX IPO could be behind the recent decline in Tesla Inc.‘s (NASDAQ:TSLA) stock price.
SpaceX IPO Causing TSLA Decline?
Sharing a screenshot of a post by influencer Sawyer Merritt on Monday, the investor weighed in on SpaceX’s amended S-1 filings. The screenshot showed a part of Merritt’s post, which said that SpaceX would issue “a significant amount” of equity for future acquisitions or transactions.
The equity “could be to acquire TSLA which would be roughly 28% dilutive,” Black said, pointing towards a combined market cap of both companies reaching over $3 trillion.
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