Following CEO Elon Musk’s announcement on Monday that he was going to start a new political party, Tesla’s stock dropped by about 7%.
The market value of the electric vehicle company dropped by over $68 billion. On Saturday, Musk declared that the party would be known as the “America Party” and that it could concentrate “on just 2 or 3 Senate seats and 8 to 10 House districts.”
This would be “enough to serve as the deciding vote on contentious laws, ensuring that they serve the true will of the people.”
Source (CNBC)
