Tesla Stock Price Falls Amid Warning of Investor ‘Exhaustion’ From Musk’s Politics
Tesla’s stock has fallen in early-hours trading, as an analyst warned investors were feeling a “sense of exhaustion” about CEO Elon Musk continuing to devote time to politics.
Tesla shares slumped almost 7% to around $294 in premarket trading as of 5.15 a.m. ET Monday, extending their year-to-date decline to 27%. At the weekend, Musk announced the formation of a new political party, the day after Donald Trump signed his Big Beautiful Bill into law. Trump responded by saying Musk had gone “off the rails.”
Dan Ives, a Tesla analyst and one of the company’s biggest bulls, wrote that Musk was going in “exactly the opposite direction” investors wanted.
“Musk diving deeper into politics and now trying to take on the…
