America Party is 'exactly the opposite' of what Elon Musk's shareholders want and could force Tesla's board to intervene [View all]
Source: Fortune
America Party is ‘exactly the opposite’ of what Elon Musk’s shareholders want and could force Tesla’s board to intervene, warns Dan Ives
Christiaan Hetzner
Mon, July 7, 2025 at 7:28 AM EDT·5 min read
• Shares in Tesla are set to drop sharply in Monday trading amid fears the White House could view Tesla’s CEO less as a friend and more as a foe, warned Wedbush tech analyst Dan Ives. On July 4, Musk said a third party could exert pressure on both the Republicans and Democrats by influencing the outcome in a dozen hotly contested races. “There is a broader sense of exhaustion from many Tesla investors that Musk keeps heading down the political track,” Ives told clients.
Elon Musk’s pledge to work round the clock for shareholders—even sleeping on factory floors and in server rooms—lasted just six weeks before the siren call of politics lured him away from his corporate empire.
One day after President Trump signed into law the tax cut and spending bill that had provoked a split of the former power couple, the Tesla CEO said he was forming a third party to end the Republican and Democrat duopoly in Washington. It marks the return to political activism that many Tesla investors had hoped was firmly behind them following the entrepreneur’s tumultuous spell in the White House.
“Very simply Musk diving deeper into politics and now trying to take on the Beltway establishment is exactly the opposite direction that Tesla investors/shareholders want him to take during this crucial period for the Tesla story,” warned Wedbush Securities tech analyst Dan Ives. “There is a broader sense of exhaustion from many Tesla investors that Musk keeps heading down the political track.”
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Read more: https://news.yahoo.com/news/finance/news/america-party-exactly-opposite-elon-112850533.html
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