Woofun AI reports that Morgan Stanley analyst Rajat Gupta stated the potential obstacles to a Tesla and SpaceX merger are currently underestimated by market speculation. Gupta noted that while the combination "makes sense on paper," significant hurdles include regulatory approvals across multiple jurisdictions, asymmetries in governance and voting rights, and the perception that the deal is an acquisition led by SpaceX rather than a merger of equals. He added that key catalysts to monitor include SpaceX's acquisition currency, the regulatory landscape, and Elon Musk's voting rights at Tesla. Morgan Stanley indicated that if the transaction proceeds, the most likely structure would be an all-stock deal where SpaceX acquires Tesla.