Tesla shares fall 6.99% premarket after Musk's new political party announcement sparks investor concerns.
ByAinvest
Monday, Jul 7, 2025 4:04 am ET1min read
TSLA--
Tesla, Inc. fell 6.99% in premarket trading, with the decline attributed to investor concerns over Elon Musk's announcement of forming a new U.S. political party. This move has escalated his feud with President Donald Trump, leading to negative sentiment and pressure on Tesla's shares. Veteran tech analyst Dan Ives of Wedbush noted that Musk is Tesla's 'biggest asset' and his deeper involvement in politics could further impact the company's stock performance.
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