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Tesla's pre-market stock price drops over 7%, Musk's political party raises concerns
Summary: According to reports, Tesla's stock price dropped by 7.6% in pre-market trading on Monday. If this trend continues during regular trading hours, it will mark the largest decline since Musk and Trump clashed over tax issues in early June (Tesla's stock price has already fallen by 22% this year). Last Saturday, Musk announced the formation ...
According to reports, Tesla's stock price dropped by 7.6% in pre-market trading on Monday. If this trend continues during regular trading hours, it will mark the largest decline since Musk and Trump clashed over tax issues in early June (Tesla's stock price has already fallen by 22% this year). Last Saturday, Musk announced the formation of the 'American Party' and stated that he will focus on winning seats in the House of Representatives and the Senate in the coming year. He also hinted at the possibility of supporting a presidential candidate. Analyst Jed Dorsheimer from William Blair stated that investors are becoming increasingly tired of this distraction, especially at crucial moments when the company needs Musk's focus the most. His political involvement will only bring negative consequences. Dan Ives, an analyst at Wedbush Securities, stated that the board must intervene. As a supporter of Tesla, I am very disappointed.
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