SpaceX-Tesla merger could create a Frankenstein's monster Wall Street can't value
THE SO WHAT
A combined Tesla–SpaceX entity would concentrate EVs, rockets, energy, and AI/robotics under one capital structure — great for internal resource allocation, harder for public markets to price. Conglomerate discounts are a reminder: if your business spans orthogonal tech bets, you may need clearer segment reporting or separate vehicles to avoid valuation drag.
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