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Tesla suffers worst slump since 2022, SpaceX drops ahead of Starship test flight
Tesla has experienced its worst stock performance since 2022, with a 30% drop for the year following disappointing second-quarter earnings and negative cash flow due to increased spending on advanced projects. This makes it the worst performer among major tech companies. Meanwhile, SpaceX's stock has also declined ahead of a key test flight for its Starship rocket, underlining challenges within Musk's ventures. The combined losses wiped out approximately $130 billion from Musk's net worth, spotlighting the volatility of both companies amidst significant investment in futuristic technologies.
MonitorConfidence: HighShort term horizonReputational risk: High
Published 24 Jul 2026, 20:55 UTC3 min read
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Summary
TL;DR
- Tesla stock down 30% year-to-date, worst among major tech firms
- Negative cash flow reported due to high spending on future projects
- SpaceX shares fall ahead of a significant Starship test flight
- Musk's wealth decreases by about $130 billion this week
- SpaceX's performance is 43% lower than its peak in mid-June
Interesting facts
- Musk briefly became the world's first trillionaire before losing significant wealth.
- SpaceX's Starship V3 launch is critical for future lunar and Mars missions.
Coverage gaps