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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 week ago* (last edited 1 week 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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[–] caseyweederman@lemmy.ca 22 points 1 week ago (1 children)

Worse, for many reasons, but also: stealing Tesla's actual name this time

[–] MotoAsh@lemmy.world 23 points 1 week ago (1 children)

No. Yet again, you are giving him too much credit. He did not start Tesla nor did he have ANY hand in any of the successful designs.

[–] DragonTypeWyvern@midwest.social 1 points 1 week ago

I'm pretty sure his PR teams were the ones behind the Tesla crush the Internet had though.