{"id":36911,"date":"2025-07-07T14:55:18","date_gmt":"2025-07-07T14:55:18","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/tesla-stock-price-slides-after-elon-musk-says-hes-formed-a-new-political-party\/"},"modified":"2025-07-07T14:55:18","modified_gmt":"2025-07-07T14:55:18","slug":"tesla-stock-price-slides-after-elon-musk-says-hes-formed-a-new-political-party","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/tesla-stock-price-slides-after-elon-musk-says-hes-formed-a-new-political-party\/","title":{"rendered":"Tesla stock price slides after Elon Musk says he&#8217;s formed a new political party"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div id=\"\">\n<p>Tesla&#8217;s stock price slumped in early trading Monday after CEO Elon Musk&#8217;s announced over the weekend that\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/elon-musk-new-america-political-party-trump-feud-harder-than-it-sounds\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">he has formed a new political party<\/a><\/span> following his acrimonious split from President Trump.\u00a0<\/p>\n<p>The electric vehicle company&#8217;s stock fell 7%, at $293 per share, in morning trading.<\/p>\n<p>Musk had <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/elon-musk-new-america-political-party-trump-feud-harder-than-it-sounds\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">threatened to form a new political party<\/a><\/span> if the president&#8217;s massive policy and spending bill passed. The tech billionaire made good on his promise this past Saturday, a day after Mr. Trump\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-to-sign-one-big-beautiful-bill-ceremony-today-watch-live-2025-07-04\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">signed his signature legislation<\/a><\/span>\u00a0into law on July 4.<\/p>\n<p>&#8220;Today, the America Party is formed to give you back your freedom,&#8221; Musk <a href=\"https:\/\/x.com\/elonmusk\/status\/1941584569523732930\" target=\"_blank\" rel=\"nofollow noopener\">said<\/a> on X.<\/p>\n<p>Musk on Friday hinted that his party would be focused on swaying votes in the House and Senate which currently have a razor-thin Republican majority. He said the America Party would focus &#8220;on just 2 or 3 Senate seats and 8 to 10 House districts.&#8221;<\/p>\n<p>President Trump <a href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/114808616176041421\" target=\"_blank\" rel=\"nofollow noopener\">responded<\/a> on Truth Social on Sunday saying Musk was a &#8220;TRAIN WRECK&#8221; and that he had gone &#8220;completely &#8216;off the rails.'&#8221; <\/p>\n<p>Musk has not offered any details on exactly what steps he&#8217;s taken toward the creation of a new political party, <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/elon-musk-new-america-political-party-trump-feud-harder-than-it-sounds\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">a complicated process<\/a><\/span> which would require compliance with the diverse laws in each state as well as federal rules.<\/p>\n<p>Still, Musk&#8217;s talk of an America Party could <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/tesla-sales-decline-second-quarter-elon-musk\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">reignite investor worries<\/a><\/span> over the fate of the Tesla brand, which was badly damaged after Musk took on a central role in the Trump administration as the head of the Department of Government Efficiency, or DOGE. Musk in late May announced he would <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/elon-musk-signals-his-time-leading-doge-is-coming-to-an-end\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">step back from the Trump administration<\/a><\/span>. Now, after a public falling out with Mr. Trump over the budget bill, it seems Musk is injecting himself back into the Washington political scene.<\/p>\n<p>&#8220;Very simply, Musk diving deeper into politics and now trying to take on the Beltway establishment is exactly the opposite direction that Tesla investors\/shareholders want him to take during this crucial period for the Tesla story,&#8221; said Wedbush analyst Dan Ives in a research note on Sunday. &#8220;While the core Musk supporters will back Musk at every turn no matter what, there is broader sense of exhaustion from many Tesla investors that Musk keeps heading down the political track.&#8221;<\/p>\n<p>Musk&#8217;s announcement comes at a precarious time for Tesla.\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/tesla-sales-decline-second-quarter-elon-musk\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">Sales of the electric vehicles fell<\/a><\/span>\u00a0more than 13% from April to June compared with the same time last year.\u00a0 Sales across Europe also\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/tesla-sales-europe-plunge-backlash-protests-elon-musk\/\" data-invalid-url-rewritten-http=\"\">plummeted by almost 50% in April<\/a><\/span>\u00a0even as the electric car market in the region grew, according to data\u00a0<a href=\"https:\/\/www.acea.auto\/files\/Press_release_car_registrations_April_2025.pdf\" target=\"_blank\" rel=\"nofollow noopener\">released<\/a>\u00a0by the European Automobile Manufacturers&#8217; Association in May.<\/p>\n<p class=\"content__meta--contributors\">\n<p>                      <span class=\"byline__author__text\">The Associated  Press<\/span><\/p>\n<p>        contributed to this report.\n    <\/p>\n<p>    <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation \">\n<p><h3 class=\"component__title\">More from CBS News<\/h3>\n<\/p>\n<\/aside>\n<p>    <!-- tags --><\/p>\n<div class=\"content-author\">\n      <a href=\"https:\/\/www.cbsnews.com\/team\/mary-cunningham\/\" class=\"content-author__name\" data-invalid-url-rewritten-http=\"\">Mary  Cunningham<\/a><\/p>\n<div class=\"content-author__bio\">\n<div class=\"content-author__full-information\">\n<p class=\"content-author__text\">Mary Cunningham is a reporter for CBS MoneyWatch. Before joining the business and finance vertical, she worked at &#8220;60 Minutes,&#8221; CBSNews.com and CBS News 24\/7 as part of the CBS News Associate Program.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cbsnews.com\/news\/tesla-stock-price-down-america-party-elon-musk\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesla&#8217;s stock price slumped in early trading Monday after CEO Elon Musk&#8217;s announced over the weekend that\u00a0he has formed a<\/p>\n","protected":false},"author":1,"featured_media":36912,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[703],"class_list":["post-36911","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-elon-musk"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tesla stock price slides after Elon Musk says he&#039;s formed a new political party - World News<\/title>\n<meta name=\"description\" content=\"Tesla stock price was down after Musk said he&amp;#039;s formed the America Party, the latest development in the billionaire&amp;#039;s feud with President Trump.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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