Elon Musk’s excellent day: SpaceX rocket, Tesla stock both blast off
Tech entrepreneur Elon Musk was on a roll Tuesday afternoon with the successful launch of a SpaceX rocket carrying a communications satellite into space and a 16.5 percent jump in the value of stock in his electric car company Tesla Motors after the German government said no investigation was needed in vehicle fires.
SpaceX’s Falcon 9 rocket took off with its first-ever satellite payload from Cape Canaveral in Florida at 5:41 pm. EST after two previous last minute postponements. The rocket successfully carried a satellite belonging to Luxembourg-based SES and placed it into stationary orbit about 50,000 miles above the equator at about 6:20 p.m.
Also Tuesday, stock in Palo Alto-based Tesla (NASDAQ: TSLA) increased by $20.53 to $144.66 after regulators in Germany found no defects in the company’s Model S car following an investigation into three recent vehicle fires in North America. The U.S. government still has its own investigation ongoing.
Musk, who was one of the co-founders of PayPal, is founder, CEO and CTO of Hawthorne, CA-based SpaceX and CEO and chief product architect of Tesla.