New Delhi, July 7 -- Billionaire Elon Musk's electric vehicle (EV) manufacturing company, Tesla Inc., shares dropped nearly 7% on the pre-market session after Musk's intent to open a political party named the"American Party" spooked US market investors.

Tesla shares dropped nearly 7% to $291.96 at 4:01 a.m. (EDT) on the premarket Nasdaq on Monday, 7 July 2025, ahead of the Wall Street open. Shares are currently trading 6.23% lower at $294.59 as of 6:29 a.m. (EDT), compared to $315.35 at the previous market close on Friday, last week.

Tesla shares closed flat with 0.10% losses at $315.35 after Friday's US stock market session, compared to $315.65 in the previous market close. The shares dropped as soon as the premarket trading session op...