Azoria Partners has delayed the launch of its Tesla-focused ETF following Tesla CEO Elon Musk’s declaration that he is forming a new U.S. political party.
The ETF, which aimed to invest in Tesla shares and options, was scheduled for launch next week.
However, the sudden political move by Musk triggered internal concerns at Azoria.
Azoria CEO James Fishback posted several critical comments about Musk’s new “America Party” and reaffirmed his support for former President Donald Trump.
Fishback Urges Board to Seek Clarity
Fishback stated, “I encourage the Board to meet immediately and ask Elon to clarify his political ambitions and evaluate whether they are compatible with his full-time obligations to Tesla as CEO.”
He also voiced concerns about Musk’s reduced involvement in governmental policy roles, which he said had already begun to shake investor confidence.
Tesla did not respond to requests for comment.
Political Turmoil Fuels Market Uncertainty
The announcement coincides with growing political friction, as Musk recently opposed a major tax and spending bill signed by Trump.
Azoria, known for its conservative investment strategies, also offers an ETF that screens out companies with diversity, equity, and inclusion hiring targets.
With the ETF launch now on hold, investors await clarification on Musk’s dual roles and how they might affect Tesla’s long-term outlook.