Flying Roadster called an ad for a Tesla-SpaceX merger
The Tesla Roadster's cold-gas hover demo was a marketing move to build support for a possible Tesla-SpaceX merger, five days before Musk said both boards formed special committees to study the deal. Tesla stock rose about 3% and SpaceX 9% in early trading.
- Tesla and SpaceX boards formed special committees to study a merger
- Tesla stock rose 3% and SpaceX 9% after the announcement
- Musk controls about 82% of SpaceX votes and 20% of Tesla
- Analysts call the claimed synergies a marketing fairy tale
Read next
Business