Fox Business’s Stuart Varney analyzes the relationship between President Donald Trump and former dogehead Elon Musk after Musk’s public criticism of the president’s “big, beautiful bill.”
Millionaire Elon Musk Over the weekend he announced he would launch a new “American Party” to challenge Republicans and Democrats, but his latest advance into politics has slipped Tesla’s stock.
On Friday, Musk posted a virus vote on X, the social media platform he owns. This asked users “whether they want independence from the two-party (called Uniparty) system and whether the American party should be created. The polls came in response to the president Donald Trump Sign the law to one big beautiful bill law (OBBBA) of GOP.
“When it comes to bankrupting our country with waste and grafts, we live in a system of one party, not democracy,” Musk wrote, adding that the American party will be formed to “return your freedom” after respondents supported the idea with a 2-to-1 margin.
Tesla’s stock soaked 7.7% on Monday after the market opened as investors balked at the latest move into politics and the potential revival of a feud with Trump over a bill that Musk criticized its impact on its deficit.
Trump calls Elon Musk a “great man” despite new criticism of the “big, beautiful bill.”
Tesla CEO Elon Musk’s announcement regarding the creation of the “American Party” sent a slide in stocks for EV makers. (Getty Images/Tom Brenner of the Washington Post via Getty Images)
Musk repeatedly criticized the OBBBA, and in early June it was “huge and outrageous, Parliamentary expenditure filled with pork invoice [that] It’s a nasty hatred. ”
He continued to criticize the law, calling it “completely insane and destructive” because it “is causing severe damage to future industries while giving handouts to past industries.” Renewable Energy Tax credits and subsidies.
| Ticker | safety | last | change | change % |
|---|---|---|---|---|
| TSLA | Tesla Inc. | 315.35 | -0.30 |
-0.10% |
Musk’s move to create the American Party to ignore Republicans and Democrats comes as his feud with Trump has subsided in recent weeks following the end of his tenure leading government efficiency (Doge).
Musk denies the latest Senate bill that “destroys millions of jobs” and raises taxes to the wind.
President Donald Trump previously purchased the EV from Tesla CEO Elon Musk as a support show. (Mandel Ngan/AFP via Getty Images/Getty Images)
In response to Musk’s post about the creation of the American Party in his true social website post, Trump wrote that he “sadly is “off the rail” completely and essentially becomes the wreckage of the train for the past five weeks.”
“He even wants to start a third party despite the fact that they have never been successful in the US. This system doesn’t seem to be designed for them,” Trump added. “One of the good things about third parties is the creation of complete and total confusion and chaos, and we have enough of it.
Tesla stock This is down more than 22% a year as EV makers faced a boycott of consumers over their involvement with the Trump administration through clumsy and subsequent dropouts with Trump.
Elon Musk celebrates as Tesla completes its first autonomous delivery to customers
Tesla faced boycotts and protests earlier this year about Musk’s role with the Trump administration. (Photo by John Paraskevas via Getty Images/Getty Images/Newsday RM)
Dan Ives, managing director of Wedbush Securities and global head of technology research, wrote in a note to investors that Musk is returning to politics during a difficult time for the company.
“Very simply, Musk’s dive deep into politics and now attempting to take on the Beltway facility is the opposite direction Tesla investors/stakeholders hopes to take him at this important time for Tesla’s story,” Ives writes.
“Koamsk supporters back their masks every turn, no matter what, but there’s a wider sense of fatigue from many people. Tesla Investors That musk is down a political trajectory,” he wrote.
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“After leaving the Trump administration and the Doge, there was the first relief from Tesla shareholders and the big supporters of its name. Musk explained. “That relief lasted a very short time and now it has been the worst with this latest announcement.”
