SpaceX jumps 10% premarket on earnings beat as SpaceX and Tesla boards review a merger
CNBC reported that SpaceX shares jumped about 10% in premarket trading after surging third-quarter revenue growth, and that Musk hinted at a Tesla tie-up. Bloomberg reported that SpaceX beat third-quarter earnings expectations and that SpaceX and Tesla discussed a potential merger. TechCrunch reported that the SpaceX and Tesla boards formed special committees to review a merger. Musk likes the idea but said he is not on either committee, according to TechCrunch. The committees are made up of independent directors. No outlet reported deal terms.
When a company's controlling owner sits on both sides of a possible deal, boards use committees of independent directors to weigh the price and protect shareholders. A SpaceX-Tesla merger would join two of Musk's companies and affect shareholders of the already public one.
If you own Tesla in an index fund or retirement account, a merger could change your holding. SpaceX's share move also shows how earnings now move a company that investors can buy.
Supporters of the idea, including Musk as reported, see a tie-up as natural between companies with overlapping technology and ambitions.
Skeptics, including governance-minded investors, worry about conflicts of interest and want independent directors to test the price, which is why the special committees matter.
Confirmed: the earnings beat, the premarket jump and the special committees. Not confirmed: terms, structure or timeline. Watch SpaceX's open today and any statement from either committee.
DailyDrop U.S. No. 17 · October 21, 2026