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Tesla (TSLA) is back under the spotlight, though not quite for the reasons optimists would have scripted. Shares dipped following the company's Q1 earnings release on April 22, as a steeper-than-anticipated capital expenditure ramp spooked investors. Yet even as spending concerns cloud the near-term outlook, a compelling new narrative is quietly gathering momentum on Wall Street, one that could provide meaningful support for the stock.
At the center of it is SpaceX, Elon Musk's high-profile space venture, which is widely anticipated to go public later this year at a valuation nearing $2 trillion. Layered on top of that is swirling speculation around a potential Tesla-SpaceX merger, adding an extra dimension of intrigue that's hard for the market to ignore. While most analysts have kept their commentary focused on Tesla's expanding product pipeline, many caution that fading the stock entirely carries real risk with such a powerful catalyst looming.
