Tesla’s stock price has plunged in response to Elon Musk’s announcement of a new political party and his latest attacks on President Donald Trump. Investors are once again concerned about Musk’s focus as the company’s CEO announced over the weekend that he has launched the America Party.

More than a month after their initial social media bluster, Elon Musk has announced the formation of a new U.S. political party in response to U.S. President Donald Trump signing his sweeping tax and spending bill into law.

Elon Musk, the world’s richest man, threatened to fund primary challenges against supporters of President Trump's sprawling tax and spendng bill 'if it is the last thing I do on this Earth.'