TradingKey – On October 15 Eastern Time, SpaceX (SPCX) shares once fell to $140.66, down over 20% from the recent high of $176.42 on October 6 and hitting a new low since early September.

However, the sharp pullback in the stock price does not necessarily mean a parallel deterioration in fundamentals; this decline is more likely dragged down by a broad sell-off in AI hardware stocks.

Meanwhile, speculation surrounding a merger between SpaceX and Tesla (TSLA) continues to heat up, which could serve as the latest catalyst for a recent stock price recovery. Barclays analyst Dan Levy believes the two companies could announce merger plans prior to Tesla’s annual shareholder meeting this year, with SpaceX more likely acting as the acquirer to…