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Tesla shares fall as Musk's 'America Party' riles investors

Tesla shares fell about 7% on Monday as Elon Musk announced the formation of a new political group called the America Party.
Musk's increased political involvement and feud with President Trump, including past donation ties and public clashes, have unsettled investors.
Investors worry Musk's political focus will distract him from Tesla amid the company's recent 13.5% second-quarter sales decline and growing competition from BYD.
Neil Wilson noted concerns over potential cuts to U.S. EV subsidies and Musk appearing 'distracted,' while Tesla short sellers profited about $1.6 billion on Monday.
The share drop marks growing unease that Musk's political activities could harm Tesla's outlook and add volatility to its stock performance.

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