Tesla's stock, which hit a record high in December after Trump's November re-election, has lost 35 per cent since then, making it the worst-performing stock among "the Magnificent Seven" group of high-growth U.S. companies this year.

The American Party. It sounds audacious, disruptive, and very Musk-like. But what is it exactly, and does it have any chance of shaking up America’s entrenched political order?