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.

Investment firm Azoria Partners has delayed the listing of a Tesla exchange-traded fund soon, with CEO James Fishback calling for the board to evaluate if his political involvement is compatible with his obligations to Tesla as CEO.

Tesla shares sharply declined as CEO Elon Musk announced the launch of the 'America Party', sparking concerns over his focus. The new political venture follows Musk's public altercation with Trump, further pressuring Tesla's already dwindling stock performance.