BiyaPay Analyst: Tesla Drops 7%, Musk Forms "American Party," Completely Offends Trump

On July 8th, Tesla's stock price declined by 7%. One of the reasons was the political disagreement with Trump. Musk announced the establishment of the "American Party", which indicated a complete break in his political alliance with Trump. This change was directly triggered by Musk's intense conflict with Trump over the "Big Beautiful Act". This act is expected to further increase U.S. debt, and Musk strongly opposes this proposition. Musk's "American Party" plans to participate in the 2026 midterm elections. The aim is to influence congressional decisions by competing for a few key seats. It adopts 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 the development of AI technology, and relaxing regulations, etc., aiming to address public dissatisfaction with current policies. Meanwhile, Tesla is facing several challenges. For example, older versions of Tesla models may not be able to use the Full Self-Driving (FSD) feature and are facing a collective lawsuit in the Chinese market. Owners are demanding refunds of FSD fees or hardware upgrades for their vehicles, which may 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. This enables users to conveniently participate in the global stock market without the need for an offshore account and allows real-time stock trading. Through BiyaPay, users can enjoy zero transaction fees for spot and contract trading and leverage the platform's efficient and transparent trading system to better cope with market fluctuations.