Key Takeaways Tesla shares tumbled after CEO Elon Musk announced that he plans to start a new political party, reigniting concerns that his attention will turn away from running the EV maker and that a public feud with President Trump will escalate.

Tesla’s stock gets punished as Musk says he’ll start third political party. ‘This is not the news we want to see.’ T esla investors faced a rough start to the week, with shares dropping after Chief Executive Elon Musk’s plan for a new U.S. political party drew the ire of President Donald Trump — and one downgrade.