The Globe and Mail reports in its Tuesday edition that Tesla shares fell 6.8 per cent on Monday after Elon Musk said he plans to launch a new U.S. political party, reigniting concerns about his commitment to the company's future as it struggles with declining sales. A Reuters dispatch to The Globe says Mr. Musk unveiled the "America Party" over the weekend after a public dispute with President Donald Trump on the tax-cut-and-spending bill. Mr. Trump, once an ally of Mr. Musk, called the latest idea "ridiculous." Mr. Trump had threatened to cut off the billions of dollars in subsidies that Mr. Musk's companies receive after their feud erupted into an all-out social-media brawl in June, wiping off $150-billion (U.S.) in Tesla's market value in a single day. Mr. Musk's political move comes days after Tesla posted a second straight drop in quarterly deliveries, pressuring its stock which has lost 35 per cent since hitting a record high in December and is the worst-performing among the Magnificent Seven this year. "I and every other Tesla investor would prefer to be out of the business of politics. The sooner this distraction can be removed and Tesla gets back to actual business, the better," said Camelthorn's Shawn Campbell.