The Case Against a SpaceX and Tesla Merger

Directly affected

• SPCX Space Exploration Technologies-9.6% 15d

  Named in this report.

• TSLA Tesla+10.5% 30d

  Named in this report.

Indirectly affected

• XLI Industrial Select Sector SPDR-0.3% 30d

  Industrial Select Sector SPDR holds the industrials sector that Space Exploration Technologies belongs to, so it often moves with news about it.

• LMT Lockheed Martin+17.1% 30d

  Lockheed Martin is a peer of Space Exploration Technologies in guided missiles and space vehicles and parts; rivals often move on the same news.

• RKLB Rocket Lab-13.6% 30d

  Rocket Lab is a peer of Space Exploration Technologies in guided missiles and space vehicles and parts; rivals often move on the same news.

• KTOS Kratos Defense & Security Solutions-13.2% 30d

  Kratos Defense & Security Solutions is a peer of Space Exploration Technologies in guided missiles and space vehicles and parts; rivals often move on the same news.

• MDA MDA Space+1.4% 14d

  MDA Space is a peer of Space Exploration Technologies in guided missiles and space vehicles and parts; rivals often move on the same news.

• FLY Firefly Aerospace-8.5% 30d

  Firefly Aerospace is a peer of Space Exploration Technologies in guided missiles and space vehicles and parts; rivals often move on the same news.

• XLY Consumer Discretionary Select Sector SPDR+2.2% 19d

  Consumer Discretionary Select Sector SPDR holds the consumer sector that Tesla belongs to, so it often moves with news about it.

• GM General Motors-5.4% 30d

  General Motors is a peer of Tesla in motor vehicles and passenger car bodies; rivals often move on the same news.

Price reaction, T-5 to T+3

Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.