I am curious what happens to Tesla stock now. I always viewed it as a way to invest in Musk, rather than in a car company. But SpaceX would seem a better fit for that now. Teslas underlying value is much lower.
But the SpaceX float (a term I didn't know about before this IPO) is low enough that this effect may not even show up at all.
Assuming the website I just looked up the numbers on was not itself the hallucination of an AI[0], 75% of Tesla's shares are actually traded, so if I take their market cap as US$1.5T then people are trading US$1.125T of Tesla shares, whereas SpaceX only floated $75 billion of theirs, so it won't dilute the available market for people who want to ride Musk's coattails.
But the SpaceX float (a term I didn't know about before this IPO) is low enough that this effect may not even show up at all.
Assuming the website I just looked up the numbers on was not itself the hallucination of an AI[0], 75% of Tesla's shares are actually traded, so if I take their market cap as US$1.5T then people are trading US$1.125T of Tesla shares, whereas SpaceX only floated $75 billion of theirs, so it won't dilute the available market for people who want to ride Musk's coattails.
[0] how would I know? https://finbox.com/WBAG:TSLA/explorer/shares_float_pct/