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Musk's founding of the party has caused dissatisfaction, and investment company Azoria has postponed the listing of the TSL ETF.
Jin10 data reported on July 7, as Tesla (TSL.O) CEO Elon Musk announced the establishment of a new political party “American Party”, investment company Azoria announced last Saturday that it would delay the launch of the ETF “Azoria Tesla Convexity ETF” targeting Tesla. According to reports, Azoria originally planned to launch the ETF this week, intending to invest in Tesla’s stocks and Options, providing investors with financial products related to the electric vehicle giant. However, Musk’s political actions made Azoria believe the timing was unstable, deciding to postpone the listing plan. Azoria CEO Fishback pointed out that since Musk announced his resignation from the leadership position of the Government Efficiency Department in May, there has been public unease about his focus on Tesla. The establishment of the political party further undermines investor confidence in Tesla’s future leadership.