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Tesla loses $68 billion in value after Elon Musk says he is launching a political party (www.cnbc.com)

submitted 5 months ago* (last edited 5 months 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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[–] neukenindekeuken@sh.itjust.works 2 points 5 months ago (1 children)

Won't happen. His board are all sycophants.

[–] Archangel1313@lemmy.ca 5 points 5 months ago (1 children)

Then Tesla's investors should organize a class action suit against the board, for acting against their best interests.