Overview

• Musk formed the America Party on July 5 after a social media poll showed two-thirds support for a third-party alternative to Democrats and Republicans.
• Tesla shares tumbled nearly 7% on Monday, erasing about $68 billion in market value as investors assessed the impact of Musk’s political shift.
• Wedbush Securities analyst Daniel Ives urged Tesla’s board to establish formal guardrails around Musk’s external ventures to safeguard company interests.
• President Trump said the new third party “will help us,” even as GOP advisors like Hogan Gidley doubt its ability to attract a sustainable voter base.
• Election experts warn that North Carolina’s vote-share and signature requirements, plus the Federal Election Commission’s quorum vacancy, could delay the America Party’s certification.