Tesla shares dive as investors fear new Elon Musk political party will damage brand

<p>Fall of 6.8% in early trading wipes $79bn off firm’s value as market frets CEO’s foray into politics will distract from role</p><p>Shares in Tesla fell 6.8% by the close of US trading on Monday, wiping $79bn (£60bn) off the company’s value, amid investor concern that <a href="https://www.theguardian.com/us-news/2025/jul/06/elon-musk-america-party-scott-bessent">Elon Musk’s launch of a new political party</a> will present further problems for the electric carmaker.</p><p>Tesla’s market capitalisation fell from just over $1tn to about $921bn after stock markets closed on Wall Street, with the value of his stake in the company reduced by nearly $15bn, lowering it to below $120bn.</p> <a href="https://www.theguardian.com/technology/2025/jul/07/tesla-shares-dive-as-investors-fear-new-elon-musk-political-party-will-damage-brand">Continue reading...</a>