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Tesla shares fell sharply following comments from former U.S. President Donald Trump, who publicly dismissed Elon Musk’s reported plan to launch a new political party and described the Tesla CEO as “off the rails.”
Investors reacted swiftly to the remarks, viewing them as a potential risk to Tesla’s public image and to Musk’s influence in political and business circles. The selloff reflects broader market concerns about the growing intersection of Musk’s personal political ambitions with his leadership at Tesla.
Trump’s criticism comes amid reports that Musk has floated the idea of backing or forming an independent political movement ahead of the 2024 U.S. election. While Musk has not formally confirmed any such initiative, the speculation has drawn significant media and investor attention.
Analysts note that the political tension may amplify volatility in Tesla’s stock, as Musk’s high-profile persona increasingly blurs the lines between corporate leadership and partisan politics.
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