SpaceX若上市，特斯拉的“马斯克溢价”还能撑多久？

Core Viewpoint - The potential IPO of SpaceX may challenge the unique "Musk premium" that Tesla stock has enjoyed, as investors could reallocate funds from Tesla to SpaceX, which is expected to reach a valuation of $800 billion, making it the highest-valued private company globally [1][4]. Group 1: SpaceX IPO Impact on Tesla - SpaceX's IPO could lead to a redistribution of funds that were previously concentrated in Tesla, as some investors hold Tesla stock primarily for exposure to Musk's vision rather than its automotive business [1][5]. - Analysts have mixed views on the impact of SpaceX's IPO on Tesla, with some suggesting it may create selling pressure on Tesla shares, while others believe it could enhance market sentiment towards Tesla due to the synergistic potential between the two companies [5][6]. Group 2: Tesla's Current Performance and Valuation Concerns - Despite a nearly 20% increase in Tesla's stock price over the past month and a year-to-date gain of over 27%, concerns about the company's fundamentals are rising, including slowing sales growth and declining profits [4]. - Tesla's forward P/E ratio has reached approximately 220, ranking second among S&P 500 constituents, which has led to widespread skepticism regarding its valuation being unsupported by fundamentals [4]. - Technical indicators suggest that Tesla's stock is nearing overbought territory, with historical data indicating a potential decline following similar conditions [4].