IMPORTANT DISCLAIMER

This is not financial advice. This post is for educational purposes only. It is not a recommendation to buy, sell or hold SPCX, TSLA or any other security. Do your own research and talk to a licensed financial advisor before making investment decisions. Investing involves risk, including the possible loss of the money you invest.

Tesla Gossip: "SpaceX–Tesla Merger by December? It Needs 50% of ALL Tesla Shares". Facts on this page cite the primary sources below, not the video.

The claim: The SpaceX-Tesla merger is coming next month.

The proof: On Thursday afternoon, Nov. 12, Bloomberg reported that SpaceX and Tesla are making progress in merger talks and could announce "as soon as in December," citing people familiar with the matter. The same people said an announcement slipping into early 2027 has also been discussed. Tesla shares were near $390 at 3:00 p.m. ET, hit $401.22 within half an hour, and closed at $397.45, up 1.69%. SpaceX stock closed at $139.94, up just 0.14%. Neither company commented, and no deal or terms are public.

Editorial Thesis

This is a timeline report, not a deal. Bloomberg's sources put a month on talks that Musk first confirmed in October, when he said both boards had formed special committees of independent directors. That's real progress if it holds. But "as soon as" is doing a lot of work, and the hard parts, like how many SpaceX shares a Tesla holder would get, are still open. The market's reaction was lopsided: Tesla moved, SpaceX barely did.

Honest Verdict

  • Reported (Bloomberg, Nov. 12): talks are progressing; an announcement could come as soon as December, or slip into early 2027.
  • Confirmed (Yahoo Finance data): TSLA closed at $397.45, up $6.61 or 1.69% from $390.84. SPCX closed at $139.94, up $0.19 or 0.14% from $139.75.
  • Not confirmed: any signed deal, price, exchange ratio, or who would buy whom. SpaceX and Tesla didn't comment (Reuters).
  • Not proven: that the report caused the moves. The timing lines up for Tesla. SpaceX's big intraday swing happened before the report.

How the two stocks traded

Tesla (TSLA)SpaceX (SPCX)
Nov. 11 close$390.84$139.75
Around 3:00 p.m. ET Nov. 12about $390about $141.40
Day high$401.22 (in the 3:25 p.m. bar)$147.60 (in the first minutes after the open)
Nov. 12 close$397.45 (+1.69%)$139.94 (+0.14%)
Premarket Nov. 13, ~4:50 a.m. ETabout $397.81 (thin)about $140.15 (thin)

Tesla's jump came in the last hour, in step with the report. SpaceX's high of $147.60 came right after the open, hours earlier, and it drifted lower into the close. The Nasdaq Composite fell 0.39% on a day dominated by Nvidia replacing CEO Jensen Huang, according to Gotrade.

Why Tesla moved more

We can only offer reasons, not proof. Reports describe Tesla holders receiving SpaceX shares, which would make Tesla the company being bought. Buyers' shares often lag in deals like that. Chosunbiz, citing Bloomberg, says the exchange ratio is the main sticking point and puts the two companies at about $1.9 trillion (SpaceX) and $1.5 trillion (Tesla). The Verge calls it an estimated $3.5 trillion tie-up. Either way, it would be the biggest deal ever, which is Bloomberg's own framing.

The open problems

  • China vs. defense. Tesla builds and sells cars in China. SpaceX holds U.S. government and defense contracts. The Verge and Chosunbiz both flag keeping those apart as a complicating factor.
  • Politics. Democrats won the midterms, and many ran on reining in Musk's companies (The Verge). New investigations into SpaceX contracts are on the table (Axios).
  • The vote. We wrote before that Musk has said a Tesla deal would need approval from 50% of all Tesla shares, not just the votes cast.

What this does not prove

  • It does not prove a merger will be announced in December, or at all.
  • It does not tell anyone the exchange ratio or the price.
  • It does not prove the report moved Tesla stock. Many things moved markets Thursday.
  • It does not change either company's business today.

What to watch next

  1. Any statement from Tesla's or SpaceX's special committees, or an SEC filing.
  2. A reported exchange ratio. That number decides who gains.
  3. SPCX vs. TSLA trading over the next few sessions. If a deal looks likely, the gap between them may start tracking the rumoured ratio.

Bottom Line

Bloomberg reported on Nov. 12 that a SpaceX-Tesla merger could be announced as soon as December, or slip into early 2027. Tesla stock rose 1.69% to $397.45, with nearly all the gain in the last hour. SpaceX stock rose just 0.14% to $139.94. It's a credible report about a timeline, not an announced deal. This is not financial advice.

Source notes

Bloomberg report via Bloomberg Law (updated 3:22 PM ET Nov. 12), with Reuters and The Verge summaries. Prices from Yahoo Finance chart data read Nov. 13 at about 4:52 AM ET; intraday times from 5-minute bars (ET). Percent changes are our math from those closes. Market context from Gotrade. Valuations from Chosunbiz, citing Bloomberg; The Verge's $3.5 trillion is an estimate. Video: Tesla Gossip's Nov. 13 explainer (creator channel). Alternate: Randy Kirk's Nov. 12 livestream (creator channel). This is not financial advice.

Sources