Musk breaks promise to stay out of politics, Tesla stocks hit hard again.

The news of Tesla's stock price falling and Musk announcing the formation of a new political party has brought more trouble to the company's prospects. The CEO announced over the weekend that he will establish the "American Party" to challenge the Republican and Democratic parties, focusing on winning seats in the House of Representatives and Senate in the next 12 months. According to his post on X, he may also support individuals running for President of the United States in the future. Shortly after the start of regular trading on Monday, Tesla's stock price fell by 8%. If the decline continues, it will be the largest single-day drop since Musk first disagreed with Trump in early June over tax issues. Musk's involvement in political activities has affected Tesla's reputation among car buyers, and the stock has fallen by 28% since the beginning of the year.