US EditionTesla shares fall as Musk's 'America Party' riles investors
UNITED STATES, JUL 08 – Tesla shares dropped nearly 7% as investors worry Musk's new political party and feud with Trump distract from the company amid a 13.5% sales decline, analysts said.
- On Saturday, Elon Musk revealed the creation of a new American political party called the America Party, intending to offer an alternative to the current two-party system.
- This announcement came shortly after President Donald Trump enacted his substantial tax and domestic policy legislation last week, heightening the conflict between Musk and Trump.
- Tesla has faced worsening business conditions, reporting a 13.5 percent drop in second-quarter vehicle deliveries and an ongoing year-to-date stock decline of about 27 percent.
- Tesla shares dropped nearly 7 percent in early Monday trading, falling to roughly $294 as analyst Dan Ives expressed concerns that Elon Musk was taking a direction contrary to what investors desired.
- The move to form the America Party sparked investor worries about Musk’s political distraction, with potential impacts on Tesla’s future and ongoing conflict with Trump.
241 Articles
241 Articles
Elon Musk tells Tesla bull Dan Ives to 'shut up' after analyst calls for company oversight of the CEO
Tesla CEO Elon Musk said he would start a new political party just weeks after he vowed to focus more on his EV company.SAUL LOEB/AFP via Getty ImagesTesla CEO Elon Musk wants to start a new political party called the America Party.Wedbush analyst Dan Ives thinks the Tesla board should limit the CEO's time spent on politics.Musk responded to Ives: "Shut up."Even the most bullish of Tesla optimists can catch the ire of Elon Musk.Wedbush Securitie…
James Fishback, executive director of the investment firm Azoria, issued a call to billionaire Elon Musk, after he announced his intentions to create a new political party in the United States to face the bipartisanship: “If he doesn’t want to be the full-time CEO of Tesla, he should tell us now.” During his participation in Bloomberg TV, the businessman reminded X’s owner that “he doesn’t own Tesla, we are.” At the close, Tesla’s shares dropped…
Tesla bull Dan Ives says the company has reached a 'tipping point' and lays out a 3-point plan for the board to rein in Elon Musk
The analyst thinks Musk needs a new pay plan, and a board committee that's dedicated to limiting, but not banning, the CEO's political activities.
Coverage Details
Bias Distribution
- 40% of the sources are Center
To view factuality data please Upgrade to Premium
