(NASDAQ:TSLA) tumbled by 6.79 percent on Monday to finish at $293.94 apiece and lost as much as $68 billion in market value amid concerns about Elon Musk’s feud with President Donald Trump. This followed Musk’s announcement that he would launch a new political party called the “America Party” and could focus on just two or three Senate seats and eight to 10 House districts,

When Elon Musk, the chief executive of Tesla, asked his followers on X last week whether it was time to create a new political party, 80 percent answered “yes.” Wall Street seems to disagree. Tesla shares plunged 7 percent in early trading on Monday as investors registered dismay at Mr.

Dan Ives, an analyst with Wedbush Securities, wrote that Musk's continued push into politics is "exactly the opposite direction" investors want to see.