SpaceX stock dips on election fears; Deutsche Bank urges buy

SpaceX shares fell nearly 13% on Wednesday and Thursday after Democratic wins in the Nov. 3 midterm elections, though they recovered 6% early Friday, with Deutsche Bank advising investors to buy the dip. Deutsche Bank analyst Edison Yu reiterated a buy rating with a $250 price target, arguing political retribution risks are more "perception" than reality since SpaceX deals mostly with the Republican-controlled executive branch, despite potential congressional interference. Musk faces criticism from some elected Democrats, but his near-monopoly in rocket launches and computing power located outside Texas, which flipped blue at the gubernatorial level, shield him from data center obstructions, according to Yu and Baron Capital's Ron Baron.