'Incredibly self-destructive': Tesla loses $68 billion in value after Musk unveils third party

Market Reaction & Financial Impact - Tesla's market value decreased by $68 billion following Musk's announcement of launching his own political party [2] - Investors express disappointment as Musk shifts focus from Tesla to politics [3] - A roughly 7% drop in Tesla's value equates to approximately $70 billion [7] Political Landscape & Third-Party Potential - Musk is launching a political party after criticizing Trump's budget bill [1] - There is a growing public desire for a third political party, especially among younger voters [9] - Musk's political party aims to elect lawmakers who represent "the true will of the people" [7] - Musk's political actions are perceived by some as a "revenge quest" against Donald Trump [12] Republican Party Dynamics - The traditional Republican party is undergoing a purge, with loyalty to Trump becoming paramount [16][17] - Some Republicans are independent thinkers who want to build consensus and work across the aisle [17] - An opening exists for those who are not Democrats but also not Trump Republicans [18]