Tesla shares slide after Musk announces new political move

Group 1 - Elon Musk announced the launch of a new political party called the "America Party" to challenge the existing Republican and Democratic parties, which has led to a decline in Tesla shares [1][3] - A poll posted by Musk on X indicated that a majority of respondents supported the idea of the America Party, with a two-to-one margin favoring independence from the two-party system [2][3] - Following Musk's announcement, Tesla shares dropped as much as 7.7% on Monday, reflecting investor concerns over his political involvement and its potential impact on the company [3][9] Group 2 - Musk has been critical of the GOP's One Big Beautiful Bill Act (OBBBA), labeling it as a "massive, outrageous, pork-filled Congressional spending bill" that could harm future industries, particularly renewable energy [6][9] - Year-to-date, Tesla's stock has decreased over 22%, attributed to protests and consumer boycotts related to Musk's political actions and his previous role in the Trump administration [9] - Analysts, including Dan Ives from Wedbush Securities, suggest that Musk's renewed political engagement is counterproductive for Tesla during a crucial period for the company, leading to investor exhaustion [12][13][14]