Tesla CEO Elon Musk didn't appear to like Wedbush analyst Dan Ives' suggestion that the company should rein in Musk's time spent on politics.

When the Wedbush tech analyst lobbied Tesla's board to form a special board oversight committee, the CEO's response was as immediate as it was dismissive.

Tesla CEO Elon Musk has announced plans to launch a new political party, sending Tesla's stock tumbling and roiling the markets. Tesla shares fell as much as 7.6% in pre-market trading before slightly recovering.

Tesla shares sank Monday after CEO Elon Musk announced he would form a new political party in an escalation of his feud with President Donald Trump.

Mr. Musk’s involvement in politics and his financial support for the president’s campaign were once seen by investors as a benefit to Tesla, fueling a steep rise in company shares after the election last year. That association has now turned into a liability. Tesla shares are down 40 percent from their peak in December.