SpaceX Stock Dips After Midterms: Why Investors Should Buy the Drop

SpaceX shares fell to their lowest level since August, dropping 30% from October 6 highs and 45% from post-IPO peaks, as AI trading weakened and investors sold following Democratic victories in the November 3 midterm elections. The selloff reflects concerns over increased scrutiny of Elon Musk's companies and federal contracts, with Musk spending at least $445 million supporting Republican candidates. Senator Richard Blumenthal launched an investigation into Starlink restrictions affecting Ukraine, while Democratic policies on data centers and a potential SpaceX-Tesla merger add regulatory uncertainty. Despite the decline, SpaceX reported Q3 revenue of $14.6 billion, up 161% year-over-year, with profits of $4.4 billion and AI revenue surging to $7.5 billion. The company acquired $8 billion in spectrum for Starlink expansion, though technical indicators suggest further downside toward $100 support before a potential recovery to $150.