Tesla Stock Tanks 10%+ as Elon Musk Skips ’America Party’—Investors Hit Panic Button

Elon Musk's latest snub sends Tesla shares spiraling—because nothing says 'stable investment' like a CEO who treats shareholder sentiment as optional.

Wall Street's favorite chaos agent strikes again. While the S&P 500 chugs along, Tesla's bleeding double-digits after Musk ghosted what insiders called a make-or-break industry summit. The 'technoking' was too busy—presumably inventing new ways to give finance bros ulcers.

Analysts scramble to downgrade. 'When the face of your brand becomes its biggest liability,' sighs one hedge fund manager, 'maybe stop tweeting memes and start showing up.' Meanwhile, crypto traders nod knowingly—this is why we HODL decentralized assets.

Frankfurt Stock Market: Tesla Shares Dip Double-Digits

While the US stock market was closed on Friday for the Fourth of July (Independence Day), the Frankfurt stock exchange painted a grim picture. Tesla shares dipped more than 10 points on Friday’s trading session and settled at -9 points dipping by 3.40%. The US stock market could also face similar consequences when the markets open on Monday after the long Weekend. The development is putting TSLA stock under pressure as investors don’t want him to stray away from business activities.

In addition to the development, Azoria Partners postponed the launch of Tesla Innovation ETF due to Musk’s political involvement. The product had kick-started great HYPE but fizzled out as the institutional firm paused the ETFs. The firm released a statement saying that it is “taking a cautious approach” after Musk announced plans to form a political party. The move could affect Tesla shares on Monday and cause it to dip in the charts.

“Tesla (shares) needs Musk as CEO and its biggest asset and not heading down the political route yet again. While at the same time getting on Trump’s bad side,” said veteran analyst Dan Ives of Wedbush Ives to Reuters. “It WOULD also not shock us if the Tesla board gets involved at some point given the political nature of this endeavor depending on how far Musk takes it,” he said.