Key Insights:
- SpaceX stock price retreated about 6% to $134.72 amid Changpeng Zhao and Elon Musk’s saga.
- CZ called SpaceX “one of the best stocks” and denied suggesting an SPCX share sale.
- Barclays’ Tesla merger scenario would give Musk 53% of the combined voting power.
SpaceX stock price closed 6.37% lower on October 30, while Changpeng Zhao defended the shares amid his Elon Musk dispute.
Changpeng Zhao called SpaceX “one of the best stocks” to hold over the long term. He said he never suggested selling SpaceX (SPCX) stock and urged supporters against portraying his comments as threats.
His clarification followed a post from TuanX interpreting Zhao’s request for Musk’s support as a response to excessive joking.
TuanX described Binance’s difficulties and suggested someone Zhao respected had crossed a line during a challenging period. Zhao replied that the interpretation misrepresented his intention.
Changpeng Zhao Clarifies His SpaceX Stock Comments
In his earlier message, Changpeng Zhao asked Elon Musk to stop trolling and said he still held respect for him. He linked Binance’s SpaceX (SPCX stock) holdings and its $500 million contribution toward Musk’s Twitter takeover.
According to Zhao, the shares linked to that contribution now carry a value exceeding $1 billion. However, the Binance co-founder said he mentioned the stake because an FTX comparison might have suggested Binance lacked sufficient resources.
Meanwhile, he also denied that suggestion and explained that Binance holds assets beyond cryptocurrency. Changpeng Zhao said SpaceX stock illustrated their non-crypto assets in an area familiar to Elon Musk, without suggesting a share sale.
Zhao also said avoiding threats represented a core principle he had described in his book. He characterized the holding as too small to exert meaningful pressure on Elon Musk or SpaceX (SPCX) stock.
Although he acknowledged supporters’ loyalty, he asked them to avoid framing the exchange as a fight. He added that he already had enough problems to address.
SpaceX Stock Price Falls Despite a Late Recovery
The supplied chart showed SpaceX stock price closing at $134.72 on October 30, according to Google Finance data. Although it had gained momentum earlier in the session, the SPCX stock price recovery attempts faded as prices moved toward $135.
After hours, the SpaceX stock price recovered by 0.97%, or $1.31, reaching $136.03 during the after-hours trading session. Even then, the quote remained approximately 5.46% below the previous close. Volume bars showed stronger activity near the opening and closing periods.
Tesla Merger Scenario Would Give Musk 53% Voting Control
Meanwhile, Elon Musk has projected annualized SpaceX revenue of $500 billion to $1 trillion by next year’s end.
Analyst targets for the SpaceX stock price range from $118 to $800 per share. Separately, Musk disclosed that SpaceX and Tesla formed special committees to discuss a possible merger. Musk said there was considerable merit in combining the companies.
Musk holds approximately 48% of SpaceX and controls around 82% of its voting power through super-voting Class B shares.
His Tesla stake stands near 20%, compared with his stated preference for roughly 25%. Barclays identified consolidating Musk’s control as a central element in the possible combination.
In addition, Barclays considers an all-stock acquisition of Tesla by SpaceX the most likely structure. It said that a $450 Tesla stock price would represent a 20% premium and implies about 3.1 SpaceX shares per Tesla share.
That arrangement would leave Musk controlling approximately 53% of the combined company’s votes. Approval would require more than half of outstanding shares, with abstentions counting against the proposal.
 price fell around 6% as Changpeng Zhao defended the holding, denied suggesting a share sale, and clarified his comments about Elon Musk.){kind=link}