Elon Musk's Companies Hit Headwinds -- WSJ
Dow Jones2026/07/24 18:38By Shradha Dinesh
Elon Musk's July slump is getting worse today.
Tesla and SpaceX, the companies that helped Musk achieve trillionaire status last month, are now moving in the opposite direction, cutting his wealth by billions.
-- Tesla got caught in yesterday's wider selloff of tech stocks, as investors grew antsy about tech companies' artificial intelligence spending. Shares of the electric vehicle company fell 15% after it reported it had missed earnings targets and had negative cash flow for the first time in two years. The stock is down 27% in July.
-- SpaceX meanwhile is down about 50% from its highs achieved days after the rocket maker went public in June. SpaceX has lost more than $1 trillion in value from its peak. Prices fell below their $135 opening price within weeks. Its stock is down 34% this month.
Read more about Tesla and SpaceX's performance here:
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
July 24, 2026 14:38 ET (18:38 GMT)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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