Tesla shares dropped 6.77% in premarket trading on Monday, falling to $294.00, following CEO Elon Musk's announcement of a new political party, the 'America Party.' Investors are worried about Musk's growing political involvement and its potential impact on Tesla's operations. The announcement has sparked a public dispute with President Donald Trump, who criticized the new party and threatened to revoke government subsidies for Tesla. Analysts are concerned that Musk's political focus could distract from Tesla's core business during a critical period. Despite the stock's volatility, Tesla's market capitalization remains around $1.016 trillion.