SpaceX Shares Drop 4.5% Premarket After Democrats Sweep U.S. Midterm Elections

SpaceX shares fell 4.5% in premarket trading on Nov. 4, 2026, amid concerns over Democratic victories in both chambers of the U.S. Congress. Investors fear heightened regulatory scrutiny, potential reviews of government contracts awarded to Elon Musk's companies, and intensified hurdles for a potential SpaceX-Tesla merger. The decline widened from an initial 3.6% drop earlier in the morning. Market sentiment was additionally pressured by post-IPO lockup expirations releasing over one billion shares in late October, KeyBanc's $473 billion 2027 capex projection, and Texas regulatory risks following Gina Hinojosa's gubernatorial win.