Tesla, Inc. (NASDAQ:TSLA) is one of the 10 Stocks Crash Hard Alongside Wall Street.
Tesla, Inc. (NASDAQ:TSLA) tumbled by 6.79 percent on Monday to finish at $293.94 apiece and lost as much as $68 billion in market value amid concerns about Elon Musk’s feud with President Donald Trump.
This followed Musk’s announcement that he would launch a new political party called the “America Party” and could focus on just two or three Senate seats and eight to 10 House districts, enough “to serve as the deciding vote on contentious laws, ensuring that they serve the true will of the people.”
Trump, on the other hand, called Musk’s plans “ridiculous,” saying that he was saddened “to watch Elon Musk go completely off the rails, essentially becoming a TRAIN WRECK over the past five weeks.”
For investment firm Wedbush, Musk’s planned political party is a move that would rattle investors.
“Very simply, Musk diving deeper into politics and now trying to take on the Beltway establishment is exactly the opposite direction that Tesla investors/shareholders want him to take during this crucial period for the [Tesla, Inc. (NASDAQ:TSLA)]story,” it was quoted as saying in a report by Guardian.
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Disclosure: None. This article is originally published at Insider Monkey.