Tesla’s board of directors was urged to put its foot down and rein in CEO Elon Musk after the electric car maker’s stock tanked following the mercurial mogul’s vow to launch a rival political party. Wedbush Securities analyst Daniel Ives penned a bluntly worded note on Tuesday calling on the board to “act now” and establish formal boundaries around Musk’s political activities,

Veteran investors criticize Elon Musk's return to politics and question Tesla's BOD as stock declines 7% in a day.

Musk said he wants to form the America Party. A third party has never won the presidency, but they have influenced elections, experts say — mostly as spoilers.