---
title: "SpaceX is about to become the second publicly listed company under Musk, and Tesla may be marginalized"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286877315.md"
description: "SpaceX is about to launch an IPO, becoming the second publicly listed company under Musk, which may lead to a shift of investor funds away from Tesla. Wall Street analysts believe this poses a risk to Tesla, as Musk's focus may shift more towards SpaceX, potentially marginalizing Tesla"
datetime: "2026-05-19T08:20:29.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286877315.md)
  - [en](https://longbridge.com/en/news/286877315.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286877315.md)
---

# SpaceX is about to become the second publicly listed company under Musk, and Tesla may be marginalized

**For many years, the only way for ordinary investors to participate in Elon Musk's vision was to buy Tesla stock. But this situation is about to change, which also poses significant risks for Tesla investors.**

**With Space Exploration Technologies Corp., or SpaceX, initiating its IPO process, the market will provide investors with a new entry point into the "Musk economy."** Wall Street professionals believe that investors' attention and funds will inevitably shift from Tesla to this newly listed company.

Integrity Asset Management portfolio manager Joe Gilbert stated, "This is definitely not good for Tesla; we believe Musk's focus will shift more towards SpaceX. While he has been able to juggle multiple projects in the past, it feels like SpaceX is his 'favorite child,' while Tesla may be marginalized."

From various perspectives, Tesla seems to be stagnating or even slightly declining: sales growth is slowing, and fundamentals are under pressure. However, its stock price has long been driven not by financial performance but by being seen as a bet on Musk's vision. The stock surged 265% from 2023 to 2025, down 8.8% so far this year, but its forward price-to-earnings ratio remains around 196 times.

A 2025 Model Y electric vehicle is parked in a Tesla showroom in New York.

In contrast, SpaceX's business is entirely different, holding an absolute leading position in the aerospace sector, with enormous growth potential.

BNP Paribas analyst James Picariello estimates that retail investors hold about 40% of Tesla shares. This analyst, who rated Tesla as "underperform," wrote in a report to clients last month that SpaceX's IPO will "split" the retail base supporting Musk, putting pressure on Tesla's stock price.

However, Tigress Financial Partners Chief Investment Officer Ivan Feinseth stated that SpaceX's IPO could also reinforce the broader narrative of the Musk ecosystem. The company holds Tesla stock in accounts it manages for clients

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