By Joel Jose and Arsheeya Bajwa (Reuters) -Tesla shares fell nearly 8% on Monday after CEO Elon Musk's plans to launch a new U.S. political party reignited concerns about his commitment to the company's future as it struggles with declining sales.

Tesla stock is sliding on Monday after CEO Elon Musk's latest foray into politics, and Wall Street is growing concerned over the loss of EV tax and regulatory credits stemming from Trump's "One Big Beautiful Bill.

This story was originally published on CFO Dive. To receive daily news and insights, subscribe to our free daily CFO Dive newsletter. Dive Brief: Tesla CFO Vaibhav Taneja executed

Tesla shares fell nearly seven per cent in premarket trading on Monday, after CEO Elon Musk’s plans to launch a new U.S. political party reignited investor concerns about his commitment to the electric-vehicle maker’s future.

TSLA Bull 2X Shares is a high-risk, high-reward play on Tesla's rebound after its recent selloff. Learn more about TSLL ETF here.