Tesla’s actions fell more than 6% after its executive director Elon Musk suggested on Saturday the creation of a political party called “America Party” to “return their freedom” to the United States.
At 10:15 EST (14:15 GMT), the electric car manufacturer recorded losses of 6.76% in Wall Street, although it fell below 7% moments after the opening.
The tycoon made this announcement after making a survey among his followers in X and repeatedly criticizing the budget and fiscal law of the US president Donald Trump.
“For a proportion of 2 to 1, you want a new political party, and it is your right. With regard to bankruptcy to our country with waste and corruption, we live in a unique party system, not in a democracy. Today, it has been formed in America Party to return their freedom,” Musk said in X.
In reaction to that post, Trump called in a message in Truth social “derailed” to his former ally, and anticipated the failure of this third American political party.
Read more: Elon Musk’s net assets falls by 14,000 MDD as investors get tired of their political activity
Trump warns that it will cut subsidies for Musk companies
Last week Tesla had a great prominence in Wall Street after Trump suggested that the Government Efficiency Department (Doge) should analyze the government subsidies received by Musk companies, who had been criticizing the fiscal plan of the US president’s fiscal plan for days, so it means increasing public debt to extremes never seen.
This confrontation affected the actions of the car manufacturer, which managed to recover after knowing a production greater than expected between April and June, although their sales were lower than expected.
Musk resigned at the end of May as head of efficiency in the White House amid disagreements with Trump for the so -called “great and beautiful law” that he finally signed on July 4, festive in the US.
With EFE information.
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