US EditionTesla shares fall as Musk's 'America Party' riles investors
UNITED STATES, JUL 8 – Tesla shares dropped 7% after Elon Musk announced the 'America Party,' causing investor concern about political distractions and a $68 billion market value loss, analysts said.
- Elon Musk revealed on Saturday that he is launching a new political party in the United States called the America Party.
- The announcement followed Musk's increasing political involvement and earlier tensions with President Trump over a recent tax spending bill.
- Tesla shares plunged about 7% on Monday, the stock's worst single-day loss since June 5, amid growing investor concerns about Musk's political distractions and foreign interference anxieties.
- Musk disclosed that the America Party plans to concentrate on winning a small number of Senate seats—around two or three—and several House districts, approximately eight to ten, to play a pivotal role in shaping important legislation and potentially act as tie-breaking votes on divisive bills.
- The political move and resulting market reaction signal increased uncertainty for Tesla's future as investors fear Musk's divided focus could affect company performance and government EV subsidies.
261 Articles
261 Articles
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Gearing up to launch his new “America Party,” Elon Musk now speaks of a GOP-Democratic duopoly that has the country in its grip. But this system died ten years ago at the hands of Donald Trump: America’s first third party president. With a small band of misfit toys drawn from the world of Manhattan real estate Mr. Trump invaded an old and established party, replacing it with his own ideas and – in true cuckoo fashion – his own children. There i…
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