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.
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Coverage Details
Total News Sources260
Leaning Left35Leaning Right42Center48Last UpdatedBias Distribution38% Center
Bias Distribution
- 38% of the sources are Center
38% Center
L 28%
C 38%
R 34%
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