Tesla's actions fell about 7% on Monday after Elon Musk announced plans to form their own political party, which caused concerns that it will be distracted even more for politics despite a tumultuous period in the Trump administration.
During a dispute with President Trump about his bill of expenses, Tesla's executive director wrote on his social media site, X, who is starting what the América party called. Once close allies, Trump and Musk have recently faced politics and have changed blows to social networks.
“When it comes to banking the bankruptcy of our country with waste and graft, we live in a single -party system, not in a democracy,” Musk wrote in X during the weekend. “The America party is formed to return its freedom.”
Whether aligned with Trump or against him, Musk's participation with politics has moved away some investors who think that his political maneuver has distracted him from focusing on Tesla's success.
Tesla's actions have fallen more than 22% this year, since Musk spent several months at the head of the White House Advisory team called the Government's efficiency department. The company's profits fell 71% in the first quarter and vehicle sales fell year after year.
Many of Musk's liberal clients now denounce the brand in response to their role in the White House. Some celebrities even made a statement abandoning their teslas. The resale value of the used teslas collapsed earlier this year, indicating a possible decrease in demand.
Investors gave a sigh of relief in May when Musk officially resigned from their work in the federal government, but the subsequent consequences with Trump have continued to damage the reputation of their company.
The last Musk movement to establish its own political party suggests that the billionaire of technology is not retreating a high profile role in Washington.
“I am sad to see Elon Musk completely get out of the rails,” essentially becoming a crash of trains in the last five weeks, “Trump wrote in Truth Social on Sunday.” He even wants to start a third political party, despite the fact that they have never succeeded in the United States. “
The Wedbush values analyst Dan IVES, predicted that 5% to 10% of the brand's damage suffered during Musk's time in the White House will be permanent. The impact extended outside the United States to Europe, where monthly sales in 32 countries fell almost 50% in April.
“Tesla's shareholders are exhausted,” Iives said in an interview on Monday. “They need to concentrate on Tesla. It is a soap opera that does not seem to end soon.”
Tesla shares closed on Monday to $ 293, 6.7%less.
