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Tesla loses $68 billion in value after Elon Musk says he is launching a political party (www.cnbc.com)

submitted 3 weeks ago* (last edited 3 weeks ago) by babysandpiper@sopuli.xyz to c/economics@lemmy.world

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KEY POINTS

Elon Musk said he would form a new political party called the “America Party.”

Tesla shares fell Monday after Musk’s announcement.

Tesla shareholders have wanted Musk to stay away from politics, especially after his stint at the so-called Department of Government Efficiency, which many have said damaged the automaker’s brand.

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[–] Archangel1313@lemmy.ca 7 points 3 weeks ago (2 children)

Then it sounds like it would be a slam-dunk to prove in court, that the board is no longer honoring its fiduciary duties to its investors.

[–] MotoAsh@lemmy.world 7 points 3 weeks ago* (last edited 3 weeks ago) (1 children)

lol you think any court in this farce of a country holds the rich to account?!

As a certain scorpoin would say, "lol, lmao"

[–] Archangel1313@lemmy.ca 4 points 3 weeks ago (1 children)

Which "rich" are you talking about? The one rich guy in charge...or the many rich people that are watching their investment bottom out, because of him?

[–] MotoAsh@lemmy.world 1 points 3 weeks ago

Yes.

[–] homesweethomeMrL@lemmy.world 1 points 3 weeks ago

Yep. Good luck!