After US market investors became alarmed by billionaire Elon Musk’s plans to launch a political party called the “American Party,” shares of Tesla Inc., a business that manufactures electric vehicles (EVs), fell by about 7% during the pre-market session.

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On Monday, July 7, 2025, at 4:01 a.m. (EDT), Tesla’s stock fell about 7% to $291.96 on the premarket Nasdaq before the opening of Wall Street. The stock is currently down 6.23% at $294.59 as of 6:29 a.m. (EDT) from $315.35 at last Thursday’s market closing.

Musk’s political strategies

Musk announced his intention to create the “American Party” in order to challenge the current “Republican/Democrat Uniparty” following the passage of President Donald Trump’s One Big Beautiful Bill by the US Congress last week.

Musk stated earlier today in a platform X post that the America Party is necessary to oppose the Republican/Democrat Uniparty. He has already made public posts about starting the party.

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