Elon Musk’s companies are having a bad week on the markets: Why SpaceX and Tesla stock prices are down

Elon Musk's publicly traded companies, Tesla and SpaceX, experienced significant market declines during July. Since June 30, TSLA and SPCX stock prices dropped by approximately 24% and 31%, respectively. While Tesla's decline was initially subtle, the stock crashed over 14.5% in a single session, closing at $319 after a $54.32 drop. Consequently, Musk's total paper losses have exceeded $47 billion as both companies faced a volatile trading period throughout the month of July.