The launch of the America Party by Elon Musk triggered a nearly 7% drop in Tesla's stock, costing Musk $15 billion in net worth. This political move has drawn criticism from investors and led to stock rating downgrades by analysts. Musk's political engagement and rivalry with Donald Trump are perceived as distractions from the company's focus. Tesla's recent performance has been marked by declining vehicle deliveries and a significant drop in stock value since Trump's inauguration, contrasting with gains in the broader S&P 500 index.
Investors disapprove of Musk's latest political moves across the board, leading to a nearly 7% fall in Tesla shares and a $15 billion loss in net worth.
Musk's launching of the America Party and his ongoing feud with Donald Trump are detrimental to Tesla's stock performance, as reflected in analyst downgrades.
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