Azoria Partners Postpones Tesla ETF Amid Musk's Political Maneuvering
Azoria Partners delayed the launch of its Tesla ETF after Elon Musk announced forming a new political party. Azoria's CEO, James Fishback, criticized Musk's move and called for clarity on his political intentions, questioning their compatibility with his role as Tesla's CEO.
Investment firm Azoria Partners has decided to delay the introduction of its Azoria Tesla Convexity exchange traded fund. The move comes in the wake of Tesla CEO Elon Musk's announcement of a new U.S. political party, the America Party, aimed at restoring freedoms for citizens.
The Tesla ETF, designed to invest in the electric vehicle giant's shares and options, was scheduled for launch the following week. However, Azoria CEO James Fishback expressed reservations regarding the timing, especially after Musk's political declaration. Fishback had previously voiced support for U.S. President Donald Trump publicly.
Fishback publicly requested Tesla to address Musk's political aspirations, questioning their impact on his responsibilities as Tesla's CEO. This uncertainty has reportedly unsettled Tesla's investors, especially following Musk's decision to step down from his government advisory role in May.
(With inputs from agencies.)
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