Pre-Market Most Active for Jul 1, 2025 : TSLL, TSLA, ATAI, TSLQ, BBAI, SQQQ, HOOD, QBTS, AMC, JOBY, NIO, CRCL
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 01 2025
0mins
Source: NASDAQ.COM
NASDAQ 100 Pre-Market Overview: The NASDAQ 100 is down by 114.84 points, with a total pre-market volume of approximately 179.7 million shares traded. Notable active stocks include Tesla (TSLA) down to $298.66 and Direxion Daily TSLA Bull 2X Shares (TSLL) at $10.40.
Stock Performance Highlights: Several stocks showed significant movements, including ATAI Life Sciences (ATAI) up to $2.83 with a strong buy recommendation, and AMC Entertainment (AMC) down to $2.90, nearing its target price.
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Analyst Views on TSLA
Wall Street analysts forecast TSLA stock price to fall
30 Analyst Rating
12 Buy
11 Hold
7 Sell
Hold
Current: 408.950
Low
25.28
Averages
401.93
High
600.00
Current: 408.950
Low
25.28
Averages
401.93
High
600.00
About TSLA
Tesla, Inc. designs, develops, manufactures, sells and leases high-performance fully electric vehicles and energy generation and storage systems, and offers services related to its products. Its segments include automotive, and energy generation and storage. The automotive segment includes the design, development, manufacturing, sales and leasing of high-performance fully electric vehicles, and sales of automotive regulatory credits. It also includes sales of used vehicles, non-warranty maintenance services and collisions, part sales, paid supercharging, insurance services revenue and retail merchandise sales. The energy generation and storage segment include the design, manufacture, installation, sales and leasing of solar energy generation and energy storage products and related services and sales of solar energy systems incentives. Its consumer vehicles include the Model 3, Y, S, X and Cybertruck. Its lithium-ion battery energy storage products include Powerwall and Megapack.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Market Size Analysis: SpaceX claims a total addressable market of $28.5 trillion, with $26.5 trillion attributed to artificial intelligence, highlighting the company's immense potential in future technologies while also reflecting a heavy reliance on AI development.
- Profitability Source: Currently, SpaceX's only profitable division is its Starlink internet service, valued at $1.6 trillion, which, although not fully realized, provides a stable cash flow support for the company.
- Importance of Rocket Launches: While many of SpaceX's future growth opportunities are closely tied to rocket launches, the IPO prospectus warns that the successful development and scaling of the Starship rocket is critical to executing its growth strategy, with any delays potentially impacting the company's future financial condition.
- Competitive Advantage and Challenges: SpaceX's leading position in the rocket launch sector gives it a dominant market share; however, CEO Elon Musk's history of hinging growth on single product success indicates significant risks, necessitating careful evaluation of potential challenges and returns by investors.
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- Market Valuation Outlook: If successful, SpaceX's market capitalization could reach $1.8 trillion, placing it among the top ten most valuable companies globally and surpassing Tesla, further solidifying Elon Musk's leadership in the tech sector.
- Starlink Profitability: Starlink, as the profitable core of SpaceX, generated $11.4 billion of the company's total $18.7 billion revenue last year, with a 50% growth rate, demonstrating strong performance in the satellite internet market and supporting the company's overall financial health.
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- Missing Software Features: The R2 launch lacks several software features available on R1 models, such as Rivian Assistant and YouTube integration, and while the company promises future updates to include these features, the lack of a firm timeline may affect consumer purchasing decisions.
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- Valuation Insight: SpaceX targets a valuation of $1.77 trillion, which, if successful, would make it one of the largest IPOs in history, prompting investors to scrutinize the sustainability of this valuation.
- Market Opportunity: The company claims a total addressable market of $28.5 trillion, with a staggering $26.5 trillion linked to artificial intelligence, highlighting AI's critical role in future growth.
- Rocket Launch Dependency: Although rocket launches represent a small portion of the total market, many of SpaceX's growth opportunities hinge on its launch capabilities, particularly the successful commercialization of the Starship rocket.
- Risk Warning: SpaceX's IPO prospectus warns that the success of Starship's development and launch cadence is crucial for executing its growth strategy, with any delays potentially having a significant adverse impact on the company's future prospects.
See More
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- Investor Expectations: Morningstar estimates that Tesla could secure a 66% stake in any merger, despite SpaceX's higher valuation, suggesting Tesla shareholders may resist a deal that undervalues their company, impacting negotiations.
- AI and Infrastructure Synergy: The collaboration between Tesla and SpaceX in AI tools, chip development, and computing infrastructure is deepening, with SpaceX purchasing over $500 million worth of Tesla Megapacks, highlighting their intertwined technological and supply chain relationship.
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See More
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- Market Size Analysis: SpaceX claims a total addressable market of $28.5 trillion, with $26.5 trillion attributed to artificial intelligence, highlighting the company's immense potential in future technologies while also reflecting a heavy reliance on AI development.
- Profitability Source: Currently, SpaceX's only profitable division is its Starlink internet service, valued at $1.6 trillion, which, although not fully realized, provides a stable cash flow support for the company.
- Importance of Rocket Launches: While many of SpaceX's future growth opportunities are closely tied to rocket launches, the IPO prospectus warns that the successful development and scaling of the Starship rocket is critical to executing its growth strategy, with any delays potentially impacting the company's future financial condition.
- Competitive Advantage and Challenges: SpaceX's leading position in the rocket launch sector gives it a dominant market share; however, CEO Elon Musk's history of hinging growth on single product success indicates significant risks, necessitating careful evaluation of potential challenges and returns by investors.
See More
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- Record IPO Size: SpaceX is set to go public on June 12, aiming to raise up to $75 billion, which would surpass the $29.4 billion record set by Saudi Aramco in 2019, marking a significant milestone for the company in capital markets.
- Market Valuation Outlook: If successful, SpaceX's market capitalization could reach $1.8 trillion, placing it among the top ten most valuable companies globally and surpassing Tesla, further solidifying Elon Musk's leadership in the tech sector.
- Starlink Profitability: Starlink, as the profitable core of SpaceX, generated $11.4 billion of the company's total $18.7 billion revenue last year, with a 50% growth rate, demonstrating strong performance in the satellite internet market and supporting the company's overall financial health.
- AI Business Challenges: While SpaceX dominates the space launch market, its AI division, xAI, faces intense competition, achieving only $1.4 billion in sales last year while burning about $1 billion monthly, leaving its future profitability uncertain and potentially impacting overall valuation.
See More
Rivian R2 Lease Costs Spark Buyer Backlash
- Lease Cost Controversy: The 36-month lease for the Rivian R2 Performance AWD starts at $829 per month, with some configurations exceeding $1,000, raising concerns among potential buyers about financing terms and lease costs, which could impact market acceptance.
- Missing Software Features: The R2 launch lacks several software features available on R1 models, such as Rivian Assistant and YouTube integration, and while the company promises future updates to include these features, the lack of a firm timeline may affect consumer purchasing decisions.
- Competitive Pressure: With financing rates for the R2 reaching 9.62%, the vehicle's value proposition is questioned, especially when compared to the R1S Dual Standard's lease price of $899, intensifying competitive pressures in the EV market.
- Delivery Targets and Growth Dependency: Rivian aims to deliver 20,000 to 25,000 R2s in 2026 as part of its overall target of 62,000 to 67,000 vehicles, but with R1 and commercial van volumes expected to remain flat, the successful ramp-up of R2 is crucial for the company's future growth.
See More
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- Valuation Insight: SpaceX targets a valuation of $1.77 trillion, which, if successful, would make it one of the largest IPOs in history, prompting investors to scrutinize the sustainability of this valuation.
- Market Opportunity: The company claims a total addressable market of $28.5 trillion, with a staggering $26.5 trillion linked to artificial intelligence, highlighting AI's critical role in future growth.
- Rocket Launch Dependency: Although rocket launches represent a small portion of the total market, many of SpaceX's growth opportunities hinge on its launch capabilities, particularly the successful commercialization of the Starship rocket.
- Risk Warning: SpaceX's IPO prospectus warns that the success of Starship's development and launch cadence is crucial for executing its growth strategy, with any delays potentially having a significant adverse impact on the company's future prospects.
See More
Tech Stocks Retreat Amid Rising Tensions in Iran
- Tech Stock Decline: The Nasdaq fell by 0.97% to close at 25,679, with South Korea's Kospi index suffering due to significant losses in Samsung shares, indicating a growing sell-off sentiment in the tech sector.
- Escalating Iran Tensions: Iran launched missile attacks on several Gulf nations, including Bahrain, Kuwait, and Jordan, worsening market sentiment, while U.S. retaliatory strikes against Iran further heightened tensions in the region.
- Oil Price Volatility: U.S. Energy Secretary noted a meaningful rise in oil traffic through the Strait of Hormuz, with global price pressures increasing, which could significantly impact investment decisions in related industries.
- China Inflation Data: China's wholesale prices surged at the fastest pace in nearly four years in May, driven by soaring raw material costs and an AI investment boom, while consumer inflation came in below estimates, highlighting the uneven nature of economic recovery.
See More
Analysis of Tesla-SpaceX Merger Prospects
- Mainstream Merger Thesis: Wolfe Research indicates that the merger thesis between Tesla and SpaceX has gained traction due to Musk's increasing voting control, AI synergies, and access to a larger capital base, drawing more investor attention.
- Investor Expectations: Morningstar estimates that Tesla could secure a 66% stake in any merger, despite SpaceX's higher valuation, suggesting Tesla shareholders may resist a deal that undervalues their company, impacting negotiations.
- AI and Infrastructure Synergy: The collaboration between Tesla and SpaceX in AI tools, chip development, and computing infrastructure is deepening, with SpaceX purchasing over $500 million worth of Tesla Megapacks, highlighting their intertwined technological and supply chain relationship.
- Merger Risks and Challenges: Despite the optimistic merger outlook, Wolfe Research warns that a deal may require a substantial premium and could face opposition from existing SpaceX shareholders and regulatory scrutiny, particularly given Tesla's extensive operations in China.
See More
