“Tesla shares fall due to Musk’s idea to create an “American Party” – ReutersTesla shares fell by more than 3% due to investor concerns about Elon Musk’s focus after his announcement of creating a new
political party in the US. This decision drew criticism from Donald Trump and concern from analysts regarding its impact on the
company.
”, — write: unn.ua
DetailsTesla shares fell more than 3% in Frankfurt, indicating another drop after the start of pre-market trading following a three-day Independence Day weekend.
Veteran tech analyst Dan Ives of Wedbush said Musk is Tesla’s “greatest asset,” and his decision to delve deeper into politics is likely to put pressure on the company’s stock.
Tesla needs Musk as CEO and its greatest asset, not to go down the political path again… while also playing into Trump’s hands. We also wouldn’t be surprised if Tesla’s board of directors intervenes at some point, given the political nature of these efforts, depending on how far Musk goes
On Sunday, Trump called Musk’s plans to create an “America Party” “ridiculous,” making new remarks about the tech billionaire and stating that a Musk ally he once appointed to head NASA would create a conflict of interest given Musk’s business interests in space.
AdditionElon Musk announced the creation of a new political party, the “America Party,” after polling his followers. The party’s goal is to “restore freedom” to the United States, opposing the two-party system.