Tesla CEO's political gamble just cost shareholders $22 billion overnight
Key Points
- Elon Musk's political ambitions with the 'America Party' hav...
Elon Musk's weekend announcement about forming the "America Party" has proven more expensive than his Twitter acquisition - Tesla shares plummeted nearly 7% in pre-market trading Monday, wiping out roughly $22 billion in market value faster than you can say "political pivot."
The timing couldn't be more spectacular. Just as the Senate passed the "Big, Beautiful Bill" that eliminates Tesla's beloved $7,500 EV tax credit and slashes Zero Emission Vehicle credits, Musk decided to dive headfirst into politics by targeting specific congressional seats. It's like watching someone juggle flaming tor...
While we have taken every measure to build an AI pipeline that generates credible and accuracte news, we still encourage you to conduct your own research before making investment decisions. InsAIght's content should not be considered professional financial or trading advice.