Tesla Bull Argues TSLA Worth $3,640, Opposes Near-Term SpaceX Merger

Brad Ferguson, founder of Rebellionaire, recently argued that Tesla Inc. (TSLA) could be worth as much as $3,640 per share, implying a 796% upside from current levels, and urged shareholders to resist any near-term merger with SpaceX. Ferguson said Tesla's autonomous driving and humanoid robotics businesses have not yet been fully priced in by the market.

Ferguson's primary concern is that Tesla shareholders would suffer significant ownership dilution. He estimates that if Tesla and SpaceX merged today, Tesla shareholders would own only about 40% of the combined company, down from 90% if a merger had occurred in 2021. "Why would Tesla shareholders sell to SpaceX for $600 per share?" Ferguson said on X, arguing that waiting allows Tesla to realize more of its Robotaxi and Optimus potential before any transaction.