Tesla Falls Over 8%, SpaceX Down Nearly 6% as Texas Elects Democratic Governor

Cointime reports: Tesla shares fell more than 8% and SpaceX dropped nearly 6% on Nov. 5, extending the prior day’s losses, after Democrat Gina Hinojosa won the Texas governor’s race, defeating Republican Greg Abbott. Hinojosa, the state’s first Democratic governor in over 30 years, has pledged to halt new data center approvals and review tax breaks, raising concerns over Musk’s Texas business interests including SpaceX’s wastewater discharge permit and subsidies.