According to @garyblack00, a TSLA and SpaceX merger makes little sense for Tesla shareholders without major cost or revenue synergies due to heavy dilution and valuation differences (source: @garyblack00). He calculates that with Tesla at a $1.5T market cap on a 200x P/E and SpaceX at $800B on a 400x P/E, the combined value would be $2.3T, requiring Tesla to issue roughly 35% new shares and producing about $8B in adjusted net income ($6B Tesla, $2B SpaceX) (source: @garyblack00). He adds that many institutional holders could balk if around 25% of profits come from space travel and communications and might sell, while the industrial logic is weak and Tesla could end up funding SpaceX’s negative cash flows (source: @garyblack00). He also notes Tesla has underperformed the Nasdaq over one- and five-year periods, reinforcing his caution on such a deal (source: @garyblack00).

According to @StockMKTNewz, CNBC reports Intel INTC is in talks for an equity infusion at a discounted price, signaling a potential below-market share issuance. source: @StockMKTNewz; CNBC. Discounted equity raises typically dilute existing shareholders and pressure near-term share prices around announcement and pricing windows. source: CFA Institute; Journal of Financial Economics. Traders should watch deal size, discount and stated use of proceeds for price discovery, while sector ETFs that hold Intel such as SOXX and SMH may mirror the move. source: CFA Institute; iShares SOXX factsheet; VanEck SMH factsheet. A risk-off reaction in a large-cap tech name can spill into crypto, as BTC and equities have shown increased correlation since 2020, so a negative tape in INTC could weigh on BTC and ETH intraday. source: International Monetary Fund; Bank for International Settlements.