Elon Musk's renewed political ambitions have led to a significant decline in Tesla's stock price, falling over 7% in one day. His recent announcement of forming a new political party, "the America party," amid a feud with President Trump has raised concerns among investors. Analysts noted that many are fatigued by Musk's distractions during a critical time for Tesla, particularly as the company faces increased competition and attempts to execute a crucial robotaxi launch. The stock had already plummeted 22% this year, leading to calls for Musk to refocus on the company's challenges.
"We expect that investors are growing tired of the distraction at a point when the business needs Musk's attention the most and only see downside from his dip back into politics."
"We would prefer this effort to be channeled towards the robotaxi rollout at this critical juncture."
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