Key Highlights

  • SpaceX (NASDAQ:SPCX) closed at USD 123.62 on November 5, 2026, down 9.05% or USD 12.30, its second straight daily decline.
  • The close is about 29.9% below the October intraday high of USD 176.42, a gap of nearly 30% (calculated from published prices).
  • Published tallies put the two-day Market Value lost by SpaceX and Tesla at roughly USD 420 billion to 456 billion, and the figures differ by source.
  • Texas governor-elect Gina Hinojosa has pledged to pause new Data Center approvals until lawmakers act, but she takes office January 19, 2027 and the policy is not enacted.

Second Straight Drop After the Midterms

SpaceX (NASDAQ:SPCX), the rocket, Starlink satellite internet and space infrastructure company that listed on Nasdaq in June 2026, fell 9.05% to USD 123.62 on November 5, 2026. The USD 12.30 decline implies a prior close of about USD 135.92 (calculated). Published coverage links the move to concern that SpaceX and chief executive Elon Musk could face more scrutiny under Democratic Leadership after the November 3 midterms. Tesla (NASDAQ:TSLA) fell 10.77% to USD 343.69 the same day, while the Nasdaq Composite dropped 5.52%, the Dow fell 3.44% and the Philadelphia Semiconductor index lost more than 12% in a broad technology selloff. Both Musk-linked stocks had already fallen the day before.

Texas Data Center Pause and Starlink Grants in Focus

Democrats won the Texas governorship and attorney general seat on November 3. Governor-elect Gina Hinojosa has pledged to pause approvals for new data centers until the legislature passes protective laws, and published coverage says this could affect a planned SpaceX data center near Brownsville. Attorney General-elect Nathan Johnson has said he would examine whether Starlink was fairly awarded rural broadband grants. One analysis noted there is no evidence yet that SpaceX projects have been directly affected, and Texas grid regulators are expected to submit a review of the first project batch in December 2026. Tesla's robotaxi service, launched in Austin on September 3, is also concentrated in Texas, which is why local regulation matters to the wider Musk complex.

What Offsets the Slide and What Could Extend It

A report said SpaceX posted third-quarter GAAP Net Income of USD 4.40 billion, a figure from a single published source that should be treated as unconfirmed here. The stock is still far below its October peak, and a new listing can swing sharply because the trading history is short and sentiment is unusually influential. Any policy risk is political and slow to resolve, and spending plans for data centers can change if permits or power Supply tighten: Hinojosa's term starts January 19, 2027, and congressional or state action would take time. No market Capitalization figure was confirmed for this article.

Where Things Stand

SpaceX (NASDAQ:SPCX) is down 9.05% and nearly 30% below its October high because investors are pricing political and Regulatory Risk after the midterms, especially around Texas data center approvals and Starlink grants, in a day when the Nasdaq Composite fell 5.52%. The evidence for direct damage to SpaceX operations is thin so far, which suggests sentiment is doing much of the work. Watch the December grid review, the January 19, 2027 change of Texas governor, any state action on Starlink grants and the company's next earnings. This is not a forecast.