SpaceX上市预期升温之际 特斯拉的“马斯克溢价”备受关注

Core Viewpoint - Elon Musk is promoting a vision of autonomous vehicles, robotic assistants, and life on Mars, with Tesla stock being the only way for investors to bet on this vision [1][5] Group 1: Tesla Stock Performance - Tesla's stock rose nearly 3% on Thursday, reaching a record high for the year on Tuesday, with a four-week cumulative increase of over 20% [1][5] - Since hitting a low on April 8 due to market fears over Trump administration tariffs, Tesla's stock has surged nearly 120%, ranking among the top 20 performers in the S&P 500 [1][5] Group 2: Valuation Concerns - The stock's rise reflects Wall Street's confidence in Musk's AI ambitions, despite challenges in Tesla's core automotive business [5] - Tesla's price-to-earnings ratio is at 214 times projected earnings for the next 12 months, the second highest in the S&P 500, significantly higher than Palantir Technologies Inc.'s 178 times [5] - Analysts express skepticism about the sustainability of Tesla's valuation given slowing sales, declining profits, increased regulatory scrutiny, and reduced consumer spending on vehicles [9] Group 3: SpaceX IPO Impact - SpaceX is planning an internal share sale with a valuation of $800 billion, potentially becoming the highest-valued private company globally, with its IPO expected to be the largest in history [3][8] - Analysts suggest that SpaceX's IPO could exert downward pressure on Tesla's stock, as some investors hold Tesla shares primarily to bet on Musk's vision rather than the automotive business itself [8] - Conversely, there are views that SpaceX's IPO could enhance Tesla's appeal, as significant milestones in Musk's companies often boost investor confidence across his ventures [8]