Musk's SpaceX launches harm Tesla shares

SpaceX successfully launched its Falcon 9 rocket earlier this week. What does it mean for Tesla and SolarCity, the other companies run by Elon Musk

Earlier this week, SpaceX successfully launched its Falcon 9 rocket on a cargo run to the International Space Station. While this is great news for Elon Musk as CEO of SpaceX, Kensho shows mixed results in the weeks following for Musk's two publicly traded companies, Tesla Motors and SolarCity. Since 2008, Tesla shares have traded lower in the week following a SpaceX launch more than 60 percent of the time.

SpaceX launches have also had a mixed impact on the two companies that make up the company's biggest public competitor. Shares of Boeing and Lockheed Martin, whose joint venture, the United Launch Alliance, competes with SpaceX for government contractors, tend to trade in opposite directions after a SpaceX launch.

Boeing moves higher 63 percent of the time in the week after a launch, while Lockheed shares move lower 59 percent of the time.