Elon Musk has once again captured global attention with a surprising announcement – the formation of the America Party. In a bold move aimed at "giving you back your freedom," Musk declared his new political venture on X, and it didn’t take long for the ripple effects to hit the markets. 🚀
Investment firm Azoria Partners, which was set to launch its Azoria Tesla Convexity ETF featuring Tesla shares and options, decided to hit the pause button. The decision came after Azoria CEO James Fishback voiced his concerns on X, asking the board to meet immediately and question whether Musk's political ambitions align with his full-time commitment as Tesla CEO. Fishback’s comments even echoed his support for U.S. President Donald Trump, adding another layer to the unfolding drama.
The announcement follows Musk’s earlier indication in May that he was stepping back from his role leading the Department of Government Efficiency, raising even more eyebrows among shareholders and market watchers. Meanwhile, last Friday, U.S. President Trump signed a much-discussed tax-cut and spending bill – a move Musk has fiercely opposed. As these events interconnect, investors are left to wonder how Musk’s unexpected political path might impact Tesla and the broader market in the long run.
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Musk plans political party: Investment firm postpones Tesla ETF
cgtn.com
