THE NEW YORK TIMES: Mr. Musk’s involvement in politics was once seen by investors as a benefit to Tesla. Not anymore.
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. Musk’s plans to form a third party and his intensifying feud with President Trump.
Mr. Musk’s involvement in politics and his financial support for the president’s campaign was once seen by investors as a benefit to Tesla, fueling a steep rise in company shares after the election last year.
That association has now turned into a liability. Tesla shares are down 40 percent from their peak in December. » | Jack Ewing | Monday, July 7, 2025
