Tesla’s stock price slipped into early trade on Monday, as CEO Elon Musk announced in the weekend He has formed a new political party After his sharp partition from President Trump.
Electric vehicle company’s stock fell to 7%$ 293 per share in morning trading.
Musk Threatened to form a new political party If the President’s large -scale policy and expenditure bill passed. Tech billionaire performed well on his promise on Saturday a day after Mr. Trump Signed their signature law In the law on 4 July.
“Today, America party is designed to give you its freedom back,” Musk Said On X.
Musk on Friday indicated that his party would focus on focusing on votes in the Sadan and Senate, currently a Razor-Patli Republican majority. He said that the US Party will focus on “only 2 or 3 Senate seats and 8 to 10 house districts.”
President Trump Reactive Satya Social said on Sunday that Musk was a “train debris” and “completely ‘went away from the rail.”
Musk has not given any details on what steps he has taken towards the creation of a new political party, A complex process Which will require compliance with various laws in each state as well as federal rules.
Nevertheless, the US party can talk about Musk Investor concern At the fate of the Tesla brand, which was badly damaged after the Mask played a central role as the head of the Government Efficiency Department, or Dogi in the Trump administration. At the end of May, Kasturi announced that it would be Back from Trump AdministrationNow, after a public collapses with Mr. Trump on the budget bill, it seems that Musk is injecting himself back into the Washington political scenario.
“Very easily, musk dives deeply into politics and is now trying to take the installation of the beltway, exactly the opposite direction is that Tesla’s investors/shareholders want to take her during this important period for the Tesla story,” said Vesabash analyst Dan Ewes in a research note on Sunday. “While the core musk supporters will withdraw musk at every turn, no matter, there is a widespread feeling of tiredness from many Tesla investors that the musk is located under the political track.”
Musk’s declaration comes at an indefinite time for Tesla. Sales of electric vehicles collapsed More than 13% from April to June compared to the same time as last year. Sales across Europe Fall to about 50% in April Even as the electric car market increased in the area, according to the data Issued By the European Automobile Manufacturers Association in May.
Contributed to this report.
