$DOGE Azoria Partners Investment Company announced on Saturday that they will postpone the listing of the Azoria Tesla Exchange-Traded Fund (NASDAQ: TSLA) Convexity after Tesla CEO Elon Musk stated that he is forming a new political party in the United States.
Musk made the announcement a day after polling his followers on the social media platform X, which he owns, declaring, "Today the American Party is formed to return freedom to you."
Azoria was set to launch the Tesla ETF, which would invest in the stocks and options of the electric vehicle company, next week.
However, following Musk's announcement, Azoria CEO James Fishback posted several comments criticizing the new party on X and reiterated his support for U.S. President Donald Trump.
This culminated in a post where Fishback announced the ETF's postponement.
"I encourage the Board of Directors to meet immediately and ask Elon to clarify his political ambitions and assess whether they align with his full-time obligations to Tesla as CEO," Fishback said.
This announcement undermines shareholders' confidence in Tesla's future after Musk stated in May that he would step back from his role leading the Government Efficiency Department, Fishback said.
