Coming into Monday trading, Tesla stock was up 25% since the Nov. 5 election, down 22% year to date, up 17% since news that Musk was likely to leave DOGE in early April, and down 8% since a spat broke out between Trump and Musk on social media in early June.

Tesla stock plunged nearly 8% after Elon Musk launched the American Party, sending shockwaves through Wall Street. The stock, once flying high at over $488 in December after Trumps re-election, has now dropped 35%,