Tesla and SpaceX shares fell about 1.8% in postmarket trading on Tuesday as early results from the US midterm elections pointed toward a strong performance by Democrats. Elon Musk, who backs Republican candidates, leads both companies.
The declines followed an early projection that Senator Jon Ossoff would win reelection in Georgia after polls closed. Trading in individual stocks has since ended, while Decision Desk HQ’s projections indicated that Democrats would take control of both the US House and Senate.
Sources: Bloomberg Markets.