this post was submitted on 07 Jul 2025
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Tesla loses $68 billion in value after Elon Musk says he is launching a political party (www.cnbc.com)
submitted 1 day ago* (last edited 1 day ago) by babysandpiper@sopuli.xyz to c/economics@lemmy.world
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KEY POINTS

Elon Musk said he would form a new political party called the “America Party.”

Tesla shares fell Monday after Musk’s announcement.

Tesla shareholders have wanted Musk to stay away from politics, especially after his stint at the so-called Department of Government Efficiency, which many have said damaged the automaker’s brand.

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[–] henfredemars@infosec.pub 33 points 1 day ago

Still massively overvalued.