Barclays analyst: Musk's SpaceX IPO news may affect Tesla's stock price

Barclays analyst Dan Levy stated that after the announcement of the collaboration between Elon Musk's space exploration technology company and the artificial intelligence startup xAI, with plans for a joint listing, the "meme stock" attributes of Tesla may be weakened, and support from "Musk fans" in the retail investor group may be divided. He wrote in a research report, "We believe that the merger of the space exploration technology company and xAI, followed by the initial public offering, may have a negative impact on Tesla's meme stock attributes. As for Tesla and the space exploration technology company, we believe that the two may reach a deal in the future and integrate into the 'Musk Group', but this idea still needs to consider multiple factors." Barclays pointed out that Tesla's trading trends have uniqueness, with its stock performance showing a "significant disconnect" from the fundamentals of the company.