Billionaire Elon Musk’s electric vehicle (EV) manufacturing company, Tesla Inc., shares dropped nearly 7% on the pre-market session after Musk’s intent to open a political party named the“American Party” spooked US market investors.
Tesla shares dropped nearly 7% to $291.96 at 4:01 a.m. (EDT) on the premarket Nasdaq on Monday, 7 July 2025, ahead of the Wall Street open. Shares are currently trading 6.23% lower at $294.59 as of 6:29 a.m. (EDT), compared to $315.35 at the previous market close on Friday, last week.
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