Disappointment is rarely good for stock prices. On Saturday, Musk announced he was forming the “America Party,” after running a poll on X asking if a new political party should be created. Musk has more than 225 million followers on X, and the poll garnered almost 79 million votes, with 65.4% saying “Yes” to a new party.

KEY TAKEAWAYS Shares of Tesla are dropping in early trading Tuesday as the feud between CEO Elon Musk and President Donald Trump heats up again.Trump early Tuesday accused Musk of gaining excessively from electric vehicle subsidies.

Tesla shares dropped after President Trump and Elon Musk renewed their feud over Trump's tax-and-spending bill. As Senate Republicans struggle to corral enough votes to pass the "big, beautiful bill,"