Tesla shares fell on Monday after the electric-car maker’s chief executive Elon Musk said he would form a new political party, escalating a feud with US President Donald Trump.

Dan Ives, an analyst with Wedbush Securities, wrote that Musk's continued push into politics is "exactly the opposite direction" investors want to see.

Tesla’s stock price has plunged in response to Elon Musk’s announcement of a new political party and his latest attacks on President Donald Trump. Investors are once again concerned about Musk’s focus as the company’s CEO announced over the weekend that he has launched the America Party.