SpaceX isn't likely to generate the mammoth returns that Tesla has since going public.

“SpaceX’s high-profile IPO has revitalized broader market sentiment, unlocking a massive wave of capital previously frozen in subscription accounts. As this liquidity seeks undervalued assets, significant capital is anticipated to rotate into bitcoin.”

Jefferies cuts Tesla (TSLA) price target to $375, warning the stock may become a SpaceX proxy as merger speculation grows and robotaxi launches loom.

Elon exercised his remaining ~304 million Tesla options from the 2018 performance package. This was done via net share settlement — Tesla withheld ~17.5 million shares to cover the ~$7.1 billion exercise cost. No cash changed hands and no shares were ...