Wall Street analysts and investors cited growing fatigue with Musk’s increasingly controversial political activities as a key factor behind the sell-off.

Before we assess the eternally unrealized dream of a potent third party in American politics, let’s consider the specific, recently emergent dream of one specific man: Elon Musk.

Musk has become the latest rich egomaniac to fall into this trap.

"In a nutshell, we believe this is a tipping point in the Tesla story and ultimately the Tesla Board needs to act now and set the ground rules for Musk going forward around his political ambitions an...

The conditions for a “neoliberal” third party like Mr. Musk’s may be in place, but the single likeliest outcome is that it fails to win anything at all.