Tesla (NASDAQ:TSLA) stock fell over 7.3% during early trading on Monday to £215 ($292.3) per share after CEO Elon Musk announced Saturday on X, formerly Twitter, that he was forming the 'America Party' based on a poll, which received 79 million votes. Over 65% of the voters said 'Yes' to a new party.
Musk has expressed opposition to US President Donald Trump's 'One Big Beautiful Bill,' which was signed into law last week. The Committee for a Responsible Federal Budget estimated that the bill includes tax cuts and will increase national debt by nearly £2.93 trillion ($4 trillion) over the next decade.
