Tesla Shares Dip Amid Elon Musk's US Presidential Election Exploits

Tesla is Elon Musk; that is a statement that, in many ways, is something that many may resonate. Although Tesla is the only publicly traded company among the companies owned by Elon Musk (other major companies being The Boring Company, X and SpaceX), Elon Musk is essentially the face of the EV maker.

Elon Musk's Antiquities

The electric car-making company that Musk insists on being deemed and called a 'tech company' has often had to bear the brunt of activities carried by Elon Musk, inside and outside the company.

In the past, some of his more abstruse acts, including smoking cannibas during a live podcast had garnered a lot of negative traction, affecting the company as well.

Recently, Musk's sharp right in terms of the political spectrum of the United States has assured that there is some reason for investors to be concerned.

Musk, who is now a vocal advocate for gun rights, recently declared a price of USD 1 million to individuals in the so-called 'swing states' in the US.

In his post on October 20, Musk said, "Every day, from now through Nov 5, @America PAC will be giving away $1M to someone in swing states who signed our petition to support free speech & the right to bear arms! We want to make sure that everyone in swing states hears about this and I suspect this will ensure they do."

Tesla Shares

Tesla shares, which after a bad start to 2024 crawled their way back to greener territories, have once again descended into the red alley. The shares of Elon Musk's Tesla have collapsed by 12.46 per cent in the past month.

A recent picture also tells a story of decline. In the past 5 trading sessions, the shares of the company have dipped by 0.50 per cent.

On Monday, October 21, the company expanded its losses at Wall Street. The shares of Tesla dropped by 0.84 per cent or USD 1.85, dropping to USD 218.85 per piece.