Tesla Stock 'Drops Again'… Concerns Over Investor Diversification Amid SpaceX IPO Expectations

*This content was translated by AI.

Tesla (TSLA) shares closed down 3.43% as of the 10th. On that day, the automotive and auto parts sector, which includes Tesla, fell by an average of 2.89%. General Motors (GM), a top-volume stock within the sector, dropped 4.59%, while Ford (F) fell 3.68%.

The decline in Tesla's stock price was influenced by a complex mix of deteriorating investor sentiment, operational challenges within the company, and macroeconomic headwinds. One of the key factors affecting the stock price is the prospect of SpaceX's initial public offering (IPO), scheduled for later this month. Reports suggesting that SpaceX's potential corporate valuation could exceed Tesla's market capitalization have raised concerns that investor interest and capital may shift to the new venture, creating negative sentiment for Tesla's stock price.

Concerns over the financial impact and timeline of the autonomous driving businessalso fueled investor anxiety. Recent operational issues, including delays in wait times and vehicle malfunctions during the pilot operation of the robotaxi service, were revealed. Additionally, analysts have expressed skepticism about the reliability of Full Self-Driving (FSD) technology, raising doubts about long-term growth prospects. Currently, Tesla operates under a structure that relies on future businesses such as robotaxis and Optimus while trading at a high valuation multiple, and operational disruptions have acted as downward pressure on the stock price.

Concerns over the company's ability to launch new vehicles intensified after the unveiling demonstration of the next-generation Roadster was postponed from August due to delays in the propulsion system. Furthermore, the intensifying competition posed by Chinese electric vehicle manufacturers such as BYD and Xpeng, which are accelerating their humanoid robot "Yangsan" plans, has become a burden as they directly challenge Tesla's future growth areas.

From a financial perspective, while Tesla recorded revenue growth in the first quarter of 2026, investors scrutinized its massive capital expenditure guidance, the expected negative free cash flow for the remainder of this year, and the decline in net profit and vehicle deliveries that occurred at the end of 2025. BNP Paribas recently downgraded Tesla's stock rating to "Underperform," while InvestingPro analyzed that Tesla is trading at a high valuation multiple of 362 times, indicating it is overvalued.

The outlook for technology stocks overall is pessimistic. Macro-economically, persistent inflation and uncertainty regarding the Federal Reserve's policy coordination have caused a sharp decline in overvalued technology stocks. Institutional investors have also increased selling pressure by adjusting their portfolios ahead of large-scale new technology IPOs, reducing their holdings of existing technology stocks.

On this day, Tesla's technical indicators, MACD (12,26,9) and the Relative Strength Index (RSI), showed neutral signals. Media coverage regarding Tesla is generally at a very high level, but overwhelmingly negative outlooks dominate the reporting.

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*This content was translated by AI.