(https://www.marketwatch.com/story/teslas-stock-could-rise-20-thanks-to-the-potential-for-a-spacex-merger-analyst-says-0d64693e?mod=mw_rss_topstories) on a potential SpaceX-Tesla combination. The synergy math is easy to sketch on a napkin. What's harder is reconciling *why* a defense contractor with dual-use aerospace exposure suddenly becomes a better collateral credit or accrual story once it's bolted onto an EV manufacturer.

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