{"id":33239,"date":"2025-07-07T14:29:33","date_gmt":"2025-07-07T14:29:33","guid":{"rendered":"https:\/\/financialrush.com\/?p=33239"},"modified":"2025-07-07T14:29:33","modified_gmt":"2025-07-07T14:29:33","slug":"tesla-shares-sink-after-elon-musk-says-he-will-launch-new-us-political-party","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=33239","title":{"rendered":"Tesla shares sink after Elon Musk says he will launch new US political party"},"content":{"rendered":"<p> \n<\/p>\n<div>\n<p>Unlock the White House Watch newsletter for free<\/p>\n<p class=\"article__content-sign-up-topic-description o3-type-body-base\">Your guide to what Trump\u2019s second term means for Washington, business and the world<\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=b69a2f75-9e36-4cca-b8cc-5ead166408c5&amp;newsletter-id=65b8fec772badb00166eafc6\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>Tesla shares fell on Monday after the electric-car maker\u2019s chief executive Elon Musk said he would form a new political party, escalating a feud with US President Donald Trump. <\/p>\n<p>Shares in <a href=\"https:\/\/www.ft.com\/stream\/35edec46-ef7b-4f9b-b85a-25174e6e07fa\" data-trackable=\"link\">Tesla<\/a> sank just over 7 per cent in early trading on Wall Street, taking their decline to 15 per cent over the past month, as Musk has repeatedly clashed with Trump.<\/p>\n<p>Musk left the administration in May after the pair fell out over the president\u2019s signature tax and spending bill. <\/p>\n<p>In his latest broadside against Trump, Musk over the weekend announced that he would form a new political party, which he said was needed to combat the \u201cone-party system\u201d undermining US democracy.<\/p>\n<p>Daniel Ives, an analyst at Wedbush, said Musk\u2019s apparent decision to \u201cdive deeper into politics\u2009.\u2009.\u2009. is exactly the opposite direction that Tesla investors [and] shareholders want him to take during this crucial period for the Tesla story\u201d.<\/p>\n<p>Trump hit out at Musk\u2019s plans for a new party, writing on his Truth Social platform that he was \u201csaddened to watch Elon Musk go completely \u2018off the rails\u2019 essentially becoming a TRAIN WRECK over the past five weeks\u201d.<\/p>\n<p>The bitter public feud marks a spectacular unravelling of the previously close ties between the two that were forged as the billionaire helped bankroll Trump\u2019s return to the White House.<\/p>\n<p>Trump then installed Musk, who runs Tesla and SpaceX, as head of the so-called Department of Government Efficiency (Doge) and gave him the job of finding trillions of dollars of savings across government.<\/p>\n<\/div>\n\n<br \/><a href=\"https:\/\/www.ft.com\/content\/b69a2f75-9e36-4cca-b8cc-5ead166408c5\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Unlock the White House Watch newsletter for free Your guide to what Trump\u2019s second term means for Washington,&hellip;\n","protected":false},"author":5,"featured_media":33240,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":["post-33239","post","type-post","status-publish","format-standard","has-post-thumbnail","category-us","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/33239","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33239"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/33239\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/33240"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}