Overview

• Musk officially announced the formation of the America Party on July 5, but has yet to file with the Federal Election Commission or begin state ballot-access petitions.
• Tesla’s stock dropped roughly 7% on Monday, erasing about $68 billion in market value as shareholders grew concerned over Musk’s diversion into politics.
• Wedbush analyst Dan Ives urged Tesla’s board to “act now” by implementing formal guardrails on Musk’s time and political activities to protect the company’s strategic focus.
• President Trump, after denouncing Musk’s effort as “disruptive,” later said the new third party would likely benefit his campaigns by siphoning votes.
• Meeting North Carolina’s requirement for 2% of the prior general election vote or petitions from 0.25% of registered voters illustrates the steep hurdles facing the America Party ahead of 2026.