Key facts
- Tesla shares were down 4.4% to $381 per share around 9:45 p.m. ET on November 3, 2026, per Mediaite.
- SpaceX shares were down 5.2% to $134 per share around 9:45 p.m. ET on November 3, 2026, per Mediaite.
- The Nasdaq was down 2% on Tuesday night, per Mediaite.
- Musk poured more than $445 million into helping GOP candidates win their midterm races, per Mediaite.
Tesla Inc. and Space Exploration Technologies Corp. shares fell in after-hours trading on November 3, 2026, as early results from the US midterm elections pointed toward a decisive win by Democrats, according to a report by Mediaite published November 4, 2026. Tesla shares were down 4.4% to $381 per share around 9:45 p.m. ET, while SpaceX was down 5.2% to $134 per share, the report said.
The report said investors appeared worried that Elon Musk's ties to President Donald Trump and the Republican Party would lead to pain for his companies. It cited a Politico report from last month that Democratic lawmakers were lining up to probe Musk if they took control of the House, focusing on his stint leading the Department of Government Efficiency. Representative Pramila Jayapal told Politico: "There's a lot of different parts of the corruption around Musk."
The report said Musk poured more than $445 million into helping GOP candidates win their midterm races. It also said the tech-heavy Nasdaq was down 2% on Tuesday night.