Tesla's share price took another dive as CEO Elon Musk's announcement to form a new political party injected additional uncertainty into the company's future prospects. Over the weekend, Musk revealed his plans to establish the "United States Party," an endeavor aimed at challenging the dominance of the Republican and Democratic parties. The focus of this new party is to secure seats in both the House of Representatives and the Senate within the next 12 months. Additionally, Musk shared on social media platform X that he may lend his support to candidates vying for the U.S. presidency in the future.