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BiyaPay Analyst: Tesla Drops 7%, Musk Forms "American Party," Completely Offends Trump
BlockBeats News, July 8th, Tesla's stock price fell by 7%, one of the reasons being the political disagreement with Trump. Musk announced the establishment of the "American Party," a move that signaled a complete rupture in his political alliance with Trump. This change was directly triggered by Musk's intense conflict with Trump over the "Big Beautiful Act," which is expected to further increase U.S. debt, a proposition Musk strongly opposes.
Musk's "American Party" plans to participate in the 2026 midterm elections, aiming to influence congressional decisions by vying for a few key seats, adopting a strategy different from traditional parties, focusing on 2-3 Senate seats and 8-10 House districts. Musk's political ideology includes reducing debt spending, promoting AI technology development, relaxing regulations, etc., addressing public dissatisfaction with current policies.
Meanwhile, Tesla is facing several challenges, such as older versions of Tesla models possibly being unable to use the Full Self-Driving (FSD) feature and facing a collective lawsuit in the Chinese market. Owners are demanding refunds of FSD fees or hardware upgrades for their vehicles, which could cost Tesla billions in refunds or upgrade expenses.
For investors, this series of events undoubtedly affected market sentiment. As for BiyaPay users, the platform offers USDT trading services for U.S. and Hong Kong stocks, enabling users to conveniently participate in the global stock market without the need for an offshore account, allowing real-time stock trading. Through BiyaPay, users can enjoy zero transaction fees for spot and contract trading, and leverage the platform's efficient, transparent trading system to better cope with market fluctuations.
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