Gary Black Warns Tesla-SpaceX Merger Could Reduce TSLA Value By 25%: '...Looking For A Problem

Gary Black’s Dilution ConcernsTaking to the social media platform X on Sunday, the investor shared his concerns with the possible merger, directing his message at Tesla bulls. Black said that the deal could see a “20-25% reduction” in the value of the EV giant’s stock “if TSLA with a 100x EV/EBITDA and $1.5T market cap buys SpaceX with a 200x EV/EBITDA and $1.5T market cap.”The investor then broke down his analysis on why such a move would be detrimental to the company’s stock. “TSLA issues $1.5T new equity ...