Dan Ives, an analyst with Wedbush, wrote that Musk's continued push into politics is "exactly the opposite direction" investors want to see.

Investment firm Azoria Partners said on Saturday it will postpone the listing of its Azoria Tesla Convexity exchange traded fund after Tesla CEO Elon Musk said he was forming a new U.S. political party.

US President Donald Trump has hit out at former close ally Elon Musk over the multi-billionaire's plan to launch a new political party. "I am saddened to watch Elon Musk go completely 'off the rails,' essentially becoming a train wreck over the past five weeks,