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Brand Engagement Network

Brand Engagement Network Inc is a generative AI (GenAI) company specializing in conversational AI solutions. Through its secure, human-like AI agents, available in different modalities, the company seeks to transform consumer engagement and elevate customer experience, productivity, and business performance.

Brand Engagement Network Inc. - Common Stock

Brand Engagement Network Inc

News

HIVE

HIVE Digital Technologies Surpasses 10 EH/s In May 2025 With 58% Monthly Hashrate Growth, On Track For 25 EH/s By Year-End

Focus remains on delivering market-leading solutions to SMEs across Ireland and the broader European market

Fiserv To Acquire Remaining 49.9% Stake In AIB Merchant Services, Accelerating Growth Across Ireland And The Broader European Market

Macro Economic Events

Econ #s

Economics

Germany Trade Balance For April 14.6B Vs. 20.2B Est.; 21.2B (Revised) Prior

Germany Industrial Production (MoM) For April -1.4% Vs. -0.9% Est.; 2.3% (Revised) Prior

U.K. Halifax House Price Index (YoY) For May 2.5% Vs. 3.2% Prior

U.K. Halifax House Price Index (MoM) For May -0.4% Vs. 0.4% Est.; 0.3% Prior

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan Household Spending (MoM) For April -1.8% Vs. -0.8% Est.; 0.4% Prior

Reported Earlier, Japan Household Spending (YoY) For April -0.1% Vs. 1.5% Est.; 2.1% Prior

INDA

India Interest Rate Decision 5.50%	Vs. 5.75% Est.; 6.00% Prior

SkyBridge Capital founder Anthony Scaramucci stated on Thursday that President Donald Trump&#8216;s political influence has begun to decline, coinciding with a $152 billion market capitalization loss for Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) amid an escalating public feud between Trump and CEO Elon Musk.
What Happened: &#8220;People aren&#8217;t realizing yet but today is the day that trump as a political asset has started decaying. Mark the day,&#8221; Scaramucci wrote on X, adding &#8220;Elon is right about Trump.&#8221; 
The Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) advocate&#8217;s comments came as Tesla suffered its second-largest percentage drop in over a year, falling 14.3% to $284.70.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">People aren't realizing yet but today is the day that trump as a political asset has started decaying. Mark the day.
&mdash; Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1930713189546701093?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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The unprecedented market rout followed Trump&#8217;s public criticism of Musk over the SpaceX CEO&#8217;s opposition to Trump&#8217;s &#8220;Big Beautiful Bill&#8221; spending legislation. Tesla&#8217;s decline marked the company&#8217;s largest single-day market cap loss in history, pushing it <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45805173/musk-vs-trump-tesla-suffers-record-152b-one-day-crash-as-ceo-warns-tariffs-will-cause-a-recession">out of the $1 trillion valuation club</a>.
Musk had labeled the spending bill &#8220;a disgusting abomination&#8221; on social media, warning that Trump&#8217;s proposed tariffs &#8220;will cause a recession in the second half&#8221; of 2025. The Tesla CEO criticized Congress for &#8220;spending America into bankruptcy&#8221; while questioning the bill&#8217;s fiscal impact on national debt.
See Also: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45807325/bitcoin-ethereum-dogecoin-drop-as-crypto-market-loses-124-billion-amid-trump-musk-feud-and-mass-liquidations">Bitcoin, Ethereum, Dogecoin Drop As Crypto Market Loses $124 Billion Amid Trump-Musk Feud And Mass Liquidations</a>
Why It Matters: Trump responded aggressively on Truth Social, stating he &#8220;asked Musk to leave the White House as he was wearing thin.&#8221; The president suggested terminating <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45805173/musk-vs-trump-tesla-suffers-record-152b-one-day-crash-as-ceo-warns-tariffs-will-cause-a-recession">government subsidies and contracts</a> with Musk&#8217;s companies, which the Washington Post analysis estimates have received at <a href="https://www.benzinga.com/news/politics/25/06/45807020/chuck-schumer-wants-siri-to-play-bad-blood-as-elon-musk-donald-trump-feud-each-other-mike-johnson-sings-a-hawkish-tune">least $38 billion in public funding</a>.
The feud escalated when Musk referenced Trump&#8217;s alleged connection to the Jeffrey Epstein files and proposed creating a third political party representing &#8220;the 80% in the middle.&#8221; 
The fallout <a href="https://www.benzinga.com/news/politics/25/06/45807020/chuck-schumer-wants-siri-to-play-bad-blood-as-elon-musk-donald-trump-feud-each-other-mike-johnson-sings-a-hawkish-tune">reverberated through Congress</a>, with Sen.&nbsp;Chuck Schumer&nbsp;(D-N.Y.) posting &#8220;Siri, play &#8216;Bad Blood'&#8221; on X. House Speaker Mike Johnson called Musk&#8217;s attacks &#8220;not helpful&#8221; while defending the legislation as including &#8220;the largest mandatory spending cut to the federal government in history.&#8221;
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/06/45807132/cathie-wood-drops-373-million-on-circles-168-rally-dumps-coinbase-and-crypto-holdings-is-ark-ditching-bitcoin-for-stablecoins">Cathie Wood Drops $373 Million On Circle&#8217;s 168% Rally, Dumps Coinbase And Crypto Holdings — Is Ark Ditching Bitcoin for Stablecoins?</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Michael Candelori on Shutterstock.com

Politics

$BTC

TSLA

Anthony Scaramucci Says Trump As A 'Political Asset Has Started Decaying' Amid Feud With Elon Musk And Tesla's Billion Dollar Wipeout: 'Mark The Day'

On Thursday, Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) cut jobs in its books division, including roles at Goodreads and Kindle.
What Happened: The company said that fewer than 100 employees were impacted by the layoffs, reported Reuters.
An Amazon spokesperson explained, "As part of our ongoing work to make our teams and programs operate more efficiently, and to better align with our business roadmap, we've made the difficult decision to eliminate a small number of roles within the Books organization."
Amazon has been <a href="https://www.benzinga.com/media/25/01/43352019/amazon-cuts-more-jobs-in-cost-saving-push-report">implementing job cuts gradually</a>, with recent reductions affecting its devices and services division, the Wondery podcast unit and employees in its stores and communications teams.
See Also:&nbsp;<a href="https://www.benzinga.com/tech/25/04/45090992/mark-zuckerberg-warns-of-serious-disadvantage-as-chinas-data-center-blitz-could-let-deepseek-leapfrog-us-ai-labs" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Warns Of ‘Serious Disadvantage' As China's Data-Center Blitz Could Let DeepSeek Leapfrog US AI Labs</a>
The e-commerce giant also added approximately 4,000 jobs in the first quarter of this year compared to the fourth quarter of last year, the report noted, citing a disclosure made last month.
Why It's Important: Last month, sportswear giant Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) also <a href="https://www.benzinga.com/25/05/45512822/nike-announces-layoffs-in-tech-division-shifts-focus-to-third-party-vendors">announced plans to cut jobs</a> within its technology division, choosing instead to outsource portions of the work to third-party vendors.
On Monday, more than 300 Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) employees were reportedly informed that their <a href="https://www.benzinga.com/markets/tech/25/06/45738506/microsoft-fires-hundreds-more-workers-amid-ai-fueled-growth-calls-it-positioning-the-company-for-success">positions had been eliminated</a>, adding to the approximately 6,000 job cuts the company announced last month.
Price Action: Amazon shares climbed 0.32% during Thursday&#8217;s regular trading session and saw a further gain of 0.048% in after-hours trading, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Benzinga&#8217;s Edge Stock Rankings indicate that Amazon maintains a positive price trend across short, medium and long-term periods. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">You can view more in-depth metrics here</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06005806/Screenshot-2025-06-06-at-10.25.55%E2%80%AFAM.png" alt="" class="wp-image-940653" /></a></figure>
Photo Courtesy: Matthew Nichols1 on Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45396297/cathie-wood-dumps-palantir-as-stock-touches-peak-prices-bails-on-soaring-flying-taxi-maker-archer-aviation" target="_blank" rel="noreferrer noopener">Cathie Wood Dumps Palantir As Stock Touches Peak Prices, Bails On Soaring Flying-Taxi Maker Archer Aviation</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Markets

Tech

Media

AMZN

MSFT

Amazon Cuts Jobs In Kindle, Goodreads Divisions, Terms It A 'Difficult Decision'

Sen. Bernie Sanders (I-VT) is putting fresh heat on Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>), one of the world's most recognisable brands, this time shedding light on the conditions faced by its workers, deep inside its globalised supply chains.
What Happened: On Thursday, Sanders trained his guns at sportswear giant, criticising its labor practices abroad, and going as far as to call it &#8220;corporate greed at its worst.&#8221;
In a post on X, the independent senator from Vermont said he met a worker at one of Nike&#8217;s factories, named Dinar, who sews 222 labels per hour onto Nike products and is paid just $202 a month.
Sanders argues that this was despite the company making $23 billion last year, and its founder amassing a fortune worth over $35 billion, and yet &#8220;Nike pays just dollars a day to the workers who make its products.&#8221;
See Also: <a href="https://www.benzinga.com/news/25/06/45789418/bernie-sanders-warns-saying-trump-is-dangerous-is-not-enough-vows-to-take-on-billionaires-fight-for">Bernie Sanders Warns &#8216;Saying Trump Is Dangerous Is Not Enough,&#8217; Vows To &#8216;Take On&#8217; Billionaires, Fight For Working People And Resist Movement Towards &#8216;Authoritarianism&#8217;</a>
Here, Sanders is referring to Nike&#8217;s billionaire founder, Phil Knight, with a net worth of $31.2 billion, according <a href="https://www.bloomberg.com/billionaires/profiles/philip-h-knight/">to</a> the Bloomberg Billionaires Index, however, the claims of how much the company &#8220;made&#8221; last year are wrong. In 2024, Nike <a href="https://investors.nike.com/investors/news-events-and-reports/investor-news/investor-news-details/2024/NIKE-Inc.-Reports-Fiscal-2024-Fourth-Quarter-and-Full-Year-Results/default.aspx">reported</a> $51.4 billion in revenue, with a profit of $5.7 billion, or $3.73 per share.
His post, nonetheless, echoes the growing concerns surrounding global supply chains and wage disparities at large multinational corporations. 
Sanders, a longtime critic of labor exploitation and income inequality, used the moment to spotlight the gulf between executive wealth and factory-level compensation.
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Last year, <a href="https://twitter.com/Nike?ref_src=twsrc%5Etfw">@Nike</a> made $23 billion. Its founder is worth $35 billion. But Nike pays just dollars a day to the workers who make its products. Today I met Dinar, who sews 222 labels an hour onto Nike products. She is paid $202 a month. This is corporate greed at its worst. <a href="https://t.co/n5HWsjjlsF">pic.twitter.com/n5HWsjjlsF</a>
&mdash; Bernie Sanders (@SenSanders) <a href="https://twitter.com/SenSanders/status/1930762091180552582?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: Two months ago, at the onset of President Donald Trump&#8217;s &#8220;Liberation Day&#8221; tariffs, Nike&#8217;s global supply chains were once again in the spotlight.
Economist Peter Schiff used the company as an example, saying that Nike would <a href="https://www.benzinga.com/markets/equities/25/04/44640220/peter-schiff-says-nike-wont-build-factories-in-us-they-will-sell-to-countries-like-china-a-much-better-strategy-amid-trump-tariffs">not be building factories</a> in the U.S. to &#8220;manufacture its sneakers,&#8221; since the resulting costs would be &#8220;higher than the 40% tariffs,&#8221; clearly highlighting the importance of global supply chains and cheap labor for the company&#8217;s bottom line.
Nike&#8217;s shares are down 14.93% year-to-date, amid the tariffs and trade tensions, with <a href="https://www.benzinga.com/news/global/25/04/44741043/nike-stock-tumbles-as-us-china-trade-war-intensifies-what-you-need-to-know">its key supply regions</a>, Vietnam, China, and Indonesia being subjected to reciprocal tariffs ranging from 32% to 46%, which have since been lowered, pending trade negotiations. 
Price Action: Nike shares were down 0.16% on Thursday, trading at $62.67, and are down 2.03% after hours.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="148" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06002613/Screenshot-2025-06-06-at-9.56.00-AM-1024x148.png" alt="" class="wp-image-940617" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06002613/Screenshot-2025-06-06-at-9.56.00-AM-1024x148.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06002613/Screenshot-2025-06-06-at-9.56.00-AM-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06002613/Screenshot-2025-06-06-at-9.56.00-AM-768x111.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06002613/Screenshot-2025-06-06-at-9.56.00-AM.png 1524w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
According to Benzinga&#8217;s Edge Stock Rankings, shares of Nike score poorly across key ranking metrics, and the stock has an unfavorable price trend in the medium and long-terms, but fares well in the short term. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights into the stock. 
Photo Courtesy: Joshua Sukoff on Shuttertsock.com
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/movers-shakers/25/06/45807280/elon-musk-bleeds-34-billion-as-tesla-shares-tank-14-amid-spat-with-trump-how-the-billionaires-fortune-has-fared-so-far-in-2025">Elon Musk Loses $34 Billion As Tesla Sheds $153 Billion Amid Feud With Trump—Here&#8217;s How The Billionaire&#8217;s Fortune Has Fared So Far In 2025</a></li>
</ul>

Equities

Bernie Sanders Slams Nike: Company Makes $23 Billion A Year, Workers Make $202 A Month—'Corporate Greed At Its Worst'

Stanford's "Terminator" AI fund manager beat most Wall Street pros and now threatens junior analysts' jobs, researchers say.
What Happened: The bot, built by Stanford Graduate School of Business professor Ed deHaan and Boston College colleagues, retro-tested more than 3,300 diversified mutual-fund portfolios from 1990 to 2020 and outperformed 93% of their human managers after adjusting each fund every quarter.
Researchers fed the algorithm only public data — financial statements, analyst forecasts and daily prices—mirroring what real managers saw in the pre-Internet era. Using what IBM <a href="https://www.ibm.com/think/topics/random-forest">defines</a> as a &#8220;random-forest&#8221; model, the AI repeatedly split the data into new patterns, swapped out risky positions and steered more cash into broad index funds, a move that boosted risk-adjusted returns across nearly every test case.
The bot never relied on "secret signals," deHaan <a href="https://fortune.com/2025/06/04/ai-modified-portfolios-crush-human-stock-pickers-ed-dehaan-stanford/">told</a> Fortune. Instead, it uncovered "information hiding in plain sight."
DeHaan warns that the real losers are entry-level number-crunchers. "Sitting around, crunching Excel spreadsheets is a job that will barely exist in five years," he said, arguing that automation can do a week's work in hours.
See also: <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/45789751/jim-cramer-likes-dominion-energy-but-isnt-a-fan-of-this-real-estate-stock">Jim Cramer Likes Dominion Energy, But Isn&#8217;t &#8216;A Fan&#8217; Of This Real Estate Stock</a>
That said, it is worth adding that the study is a "thought experiment" and not live trading. The bot never faced rival algorithms or the compliance limits that constrain real funds. DeHaan says its edge would shrink once the technology spreads, echoing other research showing AI gains erode when everyone uses the same signals.
Why It Matters: The Stanford study suggests funds would have needed to quintuple fees to match the AI's performance, highlighting the pressure on managers to adopt smarter tools or vanish. Or as DeHaan puts it, the shake-out could create a market that favors the "clever human who thinks like a human and can ‘out-human' the AI.&#8221;
Goldman Sachs believes AI automation <a href="https://www.benzinga.com/opinion/25/04/44587953/will-ai-replace-us-or-redefine-us">could disrupt</a> up to 300 million jobs worldwide, a scenario that would land hardest on entry-level finance roles. <a href="https://www.benzinga.com/fintech/25/02/43691876/ai-taking-stock-the-benefits-and-pitfalls-of-llms-and-their-future-applications-in-trading">Early adopters</a> contend the shift is already underway, with trading desks integrating specialist models for analysis, risk checks and execution, shaving days of work to mere minutes.
That backdrop is fueling a boom in <a href="https://www.benzinga.com/money/best-robo-advisors">robo-advisors</a> and other low-cost digital platforms, while a separate report shows AI systems are already <a href="https://www.benzinga.com/markets/equities/24/12/42465783/how-ai-is-changing-the-game-in-stock-market-analysis">parsing market data</a> with great speed and accuracy.
Photo Courtesy: Wanan Wanan on Shutterstock.com
Read next: <a href="https://www.benzinga.com/markets/equities/25/06/45789663/tesla-stock-tumbles-nearly-3-in-pre-market-as-elon-musk-continues-intense-attack-on-trumps-big-beautiful-bill">Tesla Stock Tumbles Nearly 3% In Pre-Market As Elon Musk Continues Intense Attack On Trump&#8217;s &#8216;Big, Beautiful Bill&#8217;</a>

Stanford's 'Terminator' AI Just Beat 93% Of Human Fund Managers Using Just Public Data, Professor Warns These Entry-Level Number Crunchers Risk Extinction

Billionaires Elon Musk and Mark Cuban may not always see eye to eye, but the &#8220;Shark&#8221; responded to a suggestion by the Tesla CEO about forming a new political party in the United States.
What Happened: On Thursday, Musk asked his 220 million X followers, "Is it time to create a new political party in America that actually represents the 80% in the middle?"
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x2714;&#xFE0F;&#x2714;&#xFE0F;&#x2714;&#xFE0F; <a href="https://t.co/HQMRNCCeru">https://t.co/HQMRNCCeru</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1930688119969362025?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote>
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Cuban answered the poll with three check-mark emojis, signaling support despite months of jousting with Musk over diversity initiatives and President Donald Trump.
Cuban, the former "Shark Tank" investor, campaigned for Democratic nominee Kamala Harris in 2024 for her pro-business stance while flirting with third-party ideas of his own. In an interview with Bloomberg Original back in March 2024, Cuban said &#8220;never say never&#8221; to a future in politics, although he added he&#8217;d likely be &#8220;too old&#8221; for the work it involves.
The Cost Plus Drugs founder has <a href="https://www.benzinga.com/news/24/08/40416064/mark-cuban-says-he-would-have-used-a-magic-wand-to-get-rid-of-both-gop-and-democratic-party-consider">long blasted</a> America&#8217;s two parties and once publicly <a href="https://x.com/mcuban/status/1327010064922763264">posted</a> saying, &#8220;The political duopoly is at the heart of why we are partisan.&#8221;
See also: <a href="https://www.benzinga.com/news/politics/25/06/45807020/chuck-schumer-wants-siri-to-play-bad-blood-as-elon-musk-donald-trump-feud-each-other-mike-johnson-sings-a-hawkish-tune">Chuck Schumer Wants Siri To Play &#8216;Bad Blood&#8217; As Elon Musk, Donald Trump Feud Each Other — Mike Johnson Sings A Hawkish Tune</a>
Mark Cuban did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comments.
Why It Matters: Musk and Trump are embroiled in an escalated public feud, which has caused Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) to record its second-largest single-day <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45805173/musk-vs-trump-tesla-suffers-record-152b-one-day-crash-as-ceo-warns-tariffs-will-cause-a-recession">stock price plunge</a> over the past year. The Tesla CEO fired the first shot by branding President Donald Trump's "One Big Beautiful Bill" a &#8220;massive, outrageous… <a href="https://www.benzinga.com/news/politics/25/06/45757029/elon-musk-slams-congressional-spending-bill-as-a-disgusting-abomination">disgusting abomination</a>,&#8221; warning it would explode the deficit and eventually &#8220;cause a recession&#8221;.
Economist Peter Schiff and other fiscal hawks quickly <a href="https://www.benzinga.com/news/politics/25/06/45762787/peter-schiff-backs-musks-furious-attack-on-trumps-disgusting-budget-bill-slams-gop-hypocrisy-so-glad-hopefully-elon-can-persuade-trump-to-veto-it">echoed Musk's critique</a>, applauding the Tesla chief for calling out what they saw as Republican hypocrisy. The barrage marked a sharp break from the pair's once-cordial alliance and set the stage for an unusually <a href="https://www.benzinga.com/news/politics/25/06/45800612/trump-says-musk-has-trump-derangement-syndrome-as-battle-over-bill-heats-up-had-a-great-relationship-dont-know-if-we-will-anymore">personal clash</a> played out in real time on X.
Trump hit back by accusing Musk of suffering "Trump Derangement Syndrome" and claiming the billionaire only soured when the bill trimmed EV incentives—remarks he delivered while lamenting their "great" friendship might be over. Musk argued that Congress passed the 1,100-page package in the dead of night before anyone, including him, could read it, and he urged lawmakers to strip its "mountain of disgusting pork."
Read next: <a href="https://www.benzinga.com/tech/25/04/45090992/mark-zuckerberg-warns-of-serious-disadvantage-as-chinas-data-center-blitz-could-let-deepseek-leapfrog-us-ai-labs" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Warns Of ‘Serious Disadvantage' As China's Data-Center Blitz Could Let DeepSeek Leapfrog US AI Labs</a>
Photo Courtesy: Kathy Hutchins On Shutterstock.com

General

Mark Cuban Check Marks Elon Musk's Idea Of A New Political Party That Represents 'The Middle'

Despite the escalating public feud between Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk and President Donald Trump, analyst Dan Ives remains <a href="https://www.benzinga.com/markets/equities/25/06/45789663/tesla-stock-tumbles-nearly-3-in-pre-market-as-elon-musk-continues-intense-attack-on-trumps-big-beautiful-bill">optimistic about the EV giant's future</a> but warns the conflict could disrupt the regulatory framework.
What Happened: The bitter dispute between Musk and Trump erupted after the tech mogul <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45805173/musk-vs-trump-tesla-suffers-record-152b-one-day-crash-as-ceo-warns-tariffs-will-cause-a-recession">criticized the president&#8217;s tax bill</a>, particularly the cuts to electric vehicle (EV) and solar tax credits.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Such an obvious lie. So sad. <a href="https://t.co/sOu9vqMVfX">https://t.co/sOu9vqMVfX</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1930698237650026675?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote>
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Trump retaliated by threatening to cut Musk's government subsidies and contracts, which sent Tesla's stock plummeting by 14.26% on Thursday.
In a post on X, Musk called the president's remarks about the EV mandate "an obvious lie."&nbsp;
See Also:&nbsp;<a href="https://www.benzinga.com/tech/25/04/45090992/mark-zuckerberg-warns-of-serious-disadvantage-as-chinas-data-center-blitz-could-let-deepseek-leapfrog-us-ai-labs" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Warns Of ‘Serious Disadvantage&#8217; As China&#8217;s Data-Center Blitz Could Let DeepSeek Leapfrog US AI Labs</a>
Musk also accused Trump of "ingratitude" for his role in Trump's 2024 election victory, stating that without him, Trump would have lost and the Republicans would have been in a much weaker position.
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<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Oh and some food for thought as they ponder this question: Trump has 3.5 years left as President, but I will be around for 40+ years …
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1930690151132651886?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote>
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Despite the tensions, Ives stated, "This feud does not change our bullish view of Tesla and the autonomous view but clearly does put a fly in the ointment of the Trump regulatory framework going forward."
He called the situation a "Twilight Zone moment" in the relationship between Musk and Trump, noting, "it's not good for either side."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">President Trump and Musk got into a massive feud over social media initially starting with disagreements over the tax bill, that the administration is looking to pass, which quickly escalated into essentially a high school friends feud. Massive pressure on Tesla stock…&#x1fae2;&#x1f37f;&#x1f447;&#x1f94a; <a href="https://t.co/hUgH7m91rv">pic.twitter.com/hUgH7m91rv</a>
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1930720933586546923?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote>
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Why It&#8217;s Important: Tesla saw a record $152 billion wiped from its market valuation on Thursday. The EV giant currently holds a consensus price target of $299.60, based on ratings from 26 analysts.
The highest target comes from Wedbush, which set a $500 price on May 23, 2025, while the lowest is $19.05 from GLJ Research, issued on April 23, 2025.
The three latest updates came from Wedbush, Mizuho and Wedbush again, setting an average target of $413.33, suggesting a potential upside of 44.07%.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05232921/Screenshot-2025-06-06-at-8.59.11%E2%80%AFAM-1024x378.png" alt="" class="wp-image-940577" /></figure>
Price Action: Tesla shares are down 24.94% year-to-date. In the after-hours trading on Thursday, the shares gained 0.77, reaching $286.90, according to <a href="http://pro.benzinga.com/">data from Benzinga Pro</a>.
Benzinga's Edge Stock Rankings highlight Tesla's strong price momentum across short, medium and long-term periods. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Additional performance data is available here</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05232940/Screenshot-2025-06-06-at-7.17.28%E2%80%AFAM-1.png" alt="" class="wp-image-940578" /></a></figure>
Photo Courtesy: Tada Images On Shutterstock.com
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/25/05/45396297/cathie-wood-dumps-palantir-as-stock-touches-peak-prices-bails-on-soaring-flying-taxi-maker-archer-aviation" target="_blank" rel="noreferrer noopener">Cathie Wood Dumps Palantir As Stock Touches Peak Prices, Bails On Soaring Flying-Taxi Maker Archer Aviation</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Government

Regulations

Dan Ives Calls Musk-Trump Feud A 'Twilight Zone Moment' But Bullish On Tesla And Autonomous Future: 'Not Good For Either Side'

Major cryptocurrencies declined sharply on Friday, with the total crypto market cap falling 3.77% to $3.18 trillion.&nbsp;Bitcoin&nbsp;(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) maintained a 63.7% dominance, while Ethereum (CRYPTO: ETH) held a&nbsp;9.2% market share.
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 11.00 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin </td>
<td>-2.78%</td>
<td>$102,148</td>
</tr>
<tr>
<td>Ethereum </td>
<td>-7.18%</td>
<td>$2,435</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>-9.14%</td>
<td>$0.1726</td>
</tr>
</tbody>
</table>
</figure>
What Happened: The selloff coincided with an <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45805173/musk-vs-trump-tesla-suffers-record-152b-one-day-crash-as-ceo-warns-tariffs-will-cause-a-recession">escalating public dispute</a> between President Donald Trump and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk that has rattled both traditional and digital asset markets. 
Tesla shares plunged 14.3% on Thursday as Trump threatened to terminate billions in government contracts and subsidies for Musk&#8217;s companies, including Tesla and SpaceX.
The feud began when Musk criticized Trump&#8217;s spending bill as a &#8220;massive, outrageous, pork-filled Congressional abomination&#8221; on social media. Musk departed his role as senior adviser at the Department of Government Efficiency just days before the public confrontation escalated.
The Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based OFFICIAL TRUMP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) memecoin dropped 9.75% to $9.82 amid the political tensions. Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/114634138406622995">posted</a> an article on Truth Social on Thursday claiming his memecoin&#8217;s performance represents &#8220;the ultimate measure of his success as President.&#8221;
<figure class="wp-block-image aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="628" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05233651/image-77-1024x628.png" alt="" class="wp-image-940584" style="width:466px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05233651/image-77-1024x628.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05233651/image-77-300x184.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05233651/image-77-768x471.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05233651/image-77.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Massive liquidations swept crypto markets as 226,781 traders were liquidated in the past 24 hours, totaling $979.88 million in forced position closures. The liquidation wave suggests that overleveraged positions were squeezed as volatility spiked.
The CMC Crypto Fear and Greed Index registered 46, indicating neutral sentiment, down from 55 yesterday and 61 last week when markets showed greed. 
Traditional markets showed mixed signals ahead of the May jobs report on Friday. U.S. stock futures stabilized on Thursday with S&amp;P 500 Index Futures at 5,954.25, up 0.14%, Dow Jones Industrial Average Index Futures at 42,464.00, gaining 0.22%, and Nasdaq-100 Futures at 21,581.00, down 0.0058%. 
Thursday&#8217;s regular session saw the Dow Jones Industrial Average tracked by SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) close at 42,319.74, down 0.25%, the S&amp;P 500 tracked by SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) at 5,939.30, declining 0.53%, and the Nasdaq-100 tracked by Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) at 21,547.43, dropping 0.80%.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 11.00 p.m. ET)</td>
</tr>
<tr>
<td>Fartcoin (FARTCOIN)</td>
<td>+13.98%</td>
<td>$1.04</td>
</tr>
<tr>
<td>Tron (TRX)</td>
<td>+1.36%&nbsp;</td>
<td>$0.2764</td>
</tr>
<tr>
<td>DeXe (DEXE)</td>
<td>+0.57%</td>
<td>$9.75</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45763054/bitcoin-ethereum-dogecoin-slip-as-investors-anticipate-trump-jinping-call-too-early-for-an-eth-top-this-analyst-says-3000-is-on-target">Bitcoin&#8217;s Moonshot: Can MicroStrategy And Coinbase Keep Riding The Crypto Wave?</a>
Analyst Notes:&nbsp;Blockchain analytics firm Santiment reported three massive Bitcoin transactions on June 1st and 2nd that correlated with crypto&#8217;s local top when BTC attempted to bounce above $107,000. 
The transfers included a $14.11 billion movement of 130,010 BTC, a $9.41 billion transfer of 78,647 BTC, and a $2.36 billion movement of 22,531 BTC. The $44.03 billion in total transaction volume indicated &#8220;a massive amount of polarization&#8221; among large holders.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f4ca; Blockchain data indicates that 3 massive Bitcoin transactions on June 1st and 2nd correlated with crypto&#39;s local top when <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>&#39;s market value was attempting to bounce back above $107K. $44.03B worth of transaction volume was present on the Bitcoin blockchain, indicating a… <a href="https://t.co/7FDexozitu">pic.twitter.com/7FDexozitu</a>
&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1930744118520721700?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$DOGE

$SOL

$TRUMP

SPDR Dow Jones Industrial Average ETF Trust

Bitcoin, Ethereum, Dogecoin Drop As Crypto Market Loses $124 Billion Amid Trump-Musk Feud And Mass Liquidations

Editor&#8217;s Note: This story has been updated to reflect the correct price action for Tesla shares.
Major U.S. indexes closed lower on Thursday, with the Dow Jones slipping 0.25% to 42,319.74, the S&amp;P 500 falling 0.5% to 5,939.30, and the Nasdaq dropping 0.8% to 19,298.45. These are the top stocks that gained the attention of retail traders and investors throughout the day.
Circle Internet Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRCL#NYSE">CRCL</a>) soared by 168.48% to close at $83.23, hitting an intraday high of $103.75 and a low of $66.60. In the after-hours trading, Circle shares shot up 5.4% to $87.71. The fintech firm made a <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45800399/circle-surges-to-69-in-nyse-debut-raising-1-1b-as-investors-bet-on-stablecoins-going-mainstream">striking debut on the NYSE</a>, raising $1.1 billion as investors placed significant bets on the mainstream adoption of stablecoins.&nbsp;Circle's surge&nbsp;was fueled by optimism around digital assets, with market watchers highlighting the firm's potential to bridge traditional finance and blockchain technology.
Lululemon Athletica Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) slipped 1.32% to finish at $330.78, after trading between $329.60 and $338.49. The athletic apparel maker's shares remain well off their 52-week high of $423.32, though above the low of $226.19. The company reported <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45803189/lululemon-q1-earnings-revenue-beat-eps-in-line-shares-tumble-on-weaker-earnings-forecast">first-quarter earnings and revenue</a> that topped analyst expectations, but shares tumbled on a weaker forward earnings forecast. For the first quarter, Lululemon reported revenue of 2.37 billion, greater than the estimate of $2.36 billion.
Palantir Technologies Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) dropped 7.77% to close at $119.91, with an intraday range of $118.93 to $132.85. The data analytics firm's stock remains near its 52-week high of $135.28, far above the low of $21.23. Shares fell sharply after&nbsp;CEO&nbsp;Alex Karp&nbsp;<a href="https://www.benzinga.com/markets/tech/25/06/45800099/palantir-ceo-alex-karp-refutes-ridiculous-surveillance-reports-says-company-is-winning">publicly refuted&nbsp;recent surveillance allegations</a>, calling them "ridiculous" and emphasizing the company's competitive momentum. The controversy added volatility, even as management reiterated confidence in its business outlook.
Broadcom Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) edged down 0.44% to $259.93, after reaching a high of $264.89 and a low of $259.06. The semiconductor giant's shares are just shy of their 52-week peak of $265.43, with a low of $128.50 over the past year. The company posted <a href="https://www.benzinga.com/markets/earnings/25/06/45803595/broadcom-q2-earnings-revenue-eps-beat-estimates-driven-by-robust-demand-for-ai-networking-company-sees-acceleration-in-ai-revenue-ahead">second-quarter results</a> that beat estimates across the board, driven by robust demand for AI networking solutions. Revenue was reported at $15 billion, higher than analyst estimates of $14.99 billion.&nbsp;Management highlighted&nbsp;accelerating AI revenue, signaling strong momentum in a key growth area.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) fell 14.25% to close at $284.70, with shares fluctuating between $324.55 and $273.21. The electric vehicle leader&#8217;s stock remains well below its 52-week high of $488.54, though still above the low of $167.42. Tesla shares <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45805173/musk-vs-trump-tesla-suffers-record-152b-one-day-crash-as-ceo-warns-tariffs-will-cause-a-recession">tumbled</a> as Elon Musk publicly clashed with Donald Trump, slamming the former president's bill to eliminate the EV tax credit—a move Musk warned could hurt the U.S. economy and Tesla&#8217;s future.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="752" height="92" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05230345/Screenshot-2025-06-06-at-12.03.25.png" alt="" class="wp-image-940576" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05230345/Screenshot-2025-06-06-at-12.03.25.png 752w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05230345/Screenshot-2025-06-06-at-12.03.25-300x37.png 300w" sizes="(max-width: 752px) 100vw, 752px" /></a></figure>
Benzinga&#8217;s Edge Stock&nbsp;Rankings indicate Palantir&#8217;s checks out on Price Trend in the Short, Medium and Long horizons. Here&#8217;s how it <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">ranks on other metrics.</a>
Photo Courtesy: Gsign76 On Shutterstock.com
Prepare for the day's trading&nbsp;<a href="https://www.benzinga.com/premarket">with top premarket movers and news</a>&nbsp;by Benzinga.
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

AVGO

CRCL

LULU

PLTR

Circle, Lululemon, Palantir, Broadcom, Tesla: Why These 5 Stocks Are On Investors' Radars Today (CORRECTED)

This has been a bruising week for Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk, both on the personal and professional fronts, as the public spat with President Donald Trump takes a toll on the company&#8217;s stock, alongside the billionaire entrepreneur&#8217;s personal fortune.
What Happened: On Thursday, Tesla shares dropped 14.26%, wiping out $152 billion in market capitalization, marking its biggest single-day decline. This comes as the short, tumultuous friendship between Musk and Trump comes to an abrupt end, just six short months into the new administration.
Musk&#8217;s personal fortune fell in tandem, with the Bloomberg Billionaires Index reporting a $33.9 billion decline in his net worth, to $335 billion.
However, the Tesla and SpaceX CEO still remains the richest man in the world, with Mark Zuckerberg, the CEO of Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), ranking a distant second, with a net worth of $241 billion. Yet, Musk&#8217;s fortune has been subject to volatility this past year.
See Also: <a href="https://www.benzinga.com/news/25/06/45800902/the-white-house-pushes-back-with-a-mythbuster-article-saying-people-wont-literally-die-from-their-tax-bill">The White House Pushes Back With A &#8216;Mythbuster&#8217; Article Saying People Won&#8217;t &#8216;Literally Die&#8217; From Their Tax Bill</a>
The billionaire entrepreneur&#8217;s net worth, largely anchored by his 20.3% stake i<a href="https://www.sec.gov/Archives/edgar/data/1318605/000110465925042659/tm252787d2_10ka.htm">n</a> the world&#8217;s largest EV maker, followed by 42% and 33% in the privately-held SpaceX and xAI Holdings, respectively, has declined by $97.9 billion, or 22.6% year-to-date, largely the result of Musk&#8217;s growing political activism.
This rout on Thursday is the result of Musk&#8217;s criticism of Trump&#8217;s &#8220;One Big, Beautiful Bill,&#8221; with a series of posts on X. One such post <a href="https://www.benzinga.com/news/politics/25/06/45757029/elon-musk-slams-congressional-spending-bill-as-a-disgusting-abomination">early this week</a> called it &#8220;a disgusting abomination.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I'm sorry, but I just can't stand it anymore. This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1929954109689606359?ref_src=twsrc%5Etfw">June 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Trump has since responded to Musk&#8217;s verbal volleys, defending the GOP&#8217;s budget reconciliation bill, while saying that Musk should have <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45805173/musk-vs-trump-tesla-suffers-record-152b-one-day-crash-as-ceo-warns-tariffs-will-cause-a-recession">voiced his opinions months ago</a>. 
&#8220;I don&#8217;t mind Elon turning against me, but he should have done so months ago,&#8221; Trump said. 
Why It Matters: Several prominent experts have backed Musk over his criticism of the &#8220;Big, Beautiful Bill,&#8221; echoing similar concerns. 
Leading economist and author of the Black Swan, Nassim Taleb has stated that whatever people think of Musk, they <a href="https://www.benzinga.com/news/politics/25/06/45795080/whatever-you-think-of-elon-musk-you-must-support-his-fight-against-the-big-beautiful-bill-says-black-swan-author-nassim-taleb">should support his stance</a> on the sweeping tax and spending bill, while stating that &#8220;The Trump budget is a lunacy, it will bankrupt America,&#8221; in a post on X.
Another economist and vocal Trump critic, Peter Schiff, <a href="https://www.benzinga.com/news/politics/25/06/45762787/peter-schiff-backs-musks-furious-attack-on-trumps-disgusting-budget-bill-slams-gop-hypocrisy-so-glad-hopefully-elon-can-persuade-trump-to-veto-it">praised Musk&#8217;s resolve</a>, saying that &#8220;I&#8217;m so glad Elon is willing to call out the hypocrisy in the Republican party. He is a man of principle.&#8221;
Price Action: Tesla shares, as discussed above, were down 14.26% on Thursday, trading at $284.70, but are up 0.80% after hours. 
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="147" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05221657/Screenshot-2025-06-06-at-7.46.39-AM-1024x147.png" alt="" class="wp-image-940561" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05221657/Screenshot-2025-06-06-at-7.46.39-AM-1024x147.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05221657/Screenshot-2025-06-06-at-7.46.39-AM-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05221657/Screenshot-2025-06-06-at-7.46.39-AM-768x110.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05221657/Screenshot-2025-06-06-at-7.46.39-AM.png 1530w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
According to Benzinga&#8217;s Edge Stock Rankings, Tesla fares well across the board, besides Value. It also offers a favorable price trend in the short, medium, and long term. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights into the stock. 
Photo Courtesy: Frederic Legrand &#8211; COMEO on Shutterstock.com
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</ul>

Elon Musk Loses $34 Billion As Tesla Sheds $153 Billion Amid Feud With Trump—Here's How The Billionaire's Fortune Has Fared So Far In 2025

When one mother turned to Reddit to ask how to explain budget cuts to her children, she touched a nerve. Her <a href="https://www.reddit.com/r/budget/comments/1l0xig9/how_to_explain_cutting_expenditures_to_kids/">post</a>, shared in r/budget, quickly drew support from parents who had been there and knew the emotional balancing act of telling kids, &#8220;We can&#8217;t afford that right now,&#8221; without sparking panic.
<h2 class="wp-block-heading">Framing Reality Without Fear</h2>
The original poster, a mother of two—ages 7 and 13—explained, &#8220;We need to make some big changes in our non-essential spending and get very serious about paying off credit card debt.&#8221; She emphasized the challenge of talking to her kids about the changes, particularly her 13-year-old daughter who has &#8220;a lot of anxiety and is already concerned that we're &#8216;poor.&#8217; We are not.&#8221;
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Living in an affluent community makes the gap more visible. &#8220;She can <a href="https://www.benzinga.com/personal-finance/25/05/45482749/vincent-chan-shares-tricks-people-use-to-appear-richer-than-their-friends-youre-not-behind">see the difference</a> among her friends,&#8221; the mother added, noting they have a lower household income compared to their neighbors.
Commenters shared a wealth of ideas grounded in honesty, age-appropriate financial literacy, and a focus on building security, not fear.
<h2 class="wp-block-heading">Be Honest, But Calm</h2>
Many commenters stressed the importance of explaining the situation without transferring stress. &#8220;Kids blow things way out of proportion and usually blame themselves for everything that goes wrong,&#8221; one person wrote. &#8220;Sitting them down and explaining things on their level is super helpful and might even alleviate some anxiety.&#8221;
Another parent shared, &#8220;We told our son that we can&#8217;t buy frivolous stuff because we have debt to pay off. It used to be hard to say no, but now he says no for us.&#8221;
Trending: Invest where it hurts — and help millions heal:<a href="https://www.benzinga.com/money/a-cure-for-osteoarthritis-powered-by-everyday-investors-cytonics-is-looking-to-beat-big-pharma-and-disrupt-a-390-billion-market"> Invest in Cytonics and help disrupt a $390B Big Pharma stronghold</a>.
<h2 class="wp-block-heading">Turn It Into A Teachable Moment</h2>
Several Redditors recommended giving children some control in the process. &#8220;Instead of saying, we are cutting these out, tell them we have $X to spend and ask them where should it be spent?&#8221; one commenter advised. Another suggested using real money: &#8220;Breaking costs down on paper compared to our income really helped.&#8221;
Multiple people highlighted the value of free entertainment. &#8220;We have library cards now!&#8221; one commenter offered, noting many libraries offer movies, TV shows and audiobooks. Others suggested family picnics, hikes, and game nights to replace more costly outings.
One dad described how they handled the conversation with their own children: &#8220;We just let them know that while we might spend less on fun items, we were committed to ensuring they did have some fun excursions&#8230; The cost of that though, was our food choices might be limited (cutting back on extravagant items at the grocery store) and maybe we could turn that into a positive by finding recipes for snacks they can help prep in advance.&#8221;
See Also: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
<h2 class="wp-block-heading">Perspective Over Panic</h2>
Parent after parent emphasized that kids don't need every financial detail, but they do benefit from understanding the <a href="https://www.benzinga.com/personal-finance/25/02/43472841/people-first-then-money-then-things-suze-ormans-6-secrets-to-success">difference between wants and needs</a>. &#8220;My father used to assure us we would always have enough money for everything we really need, but sometimes not enough for the things we want,&#8221; one person recalled.
As for the original poster, she thanked everyone in an edit, writing, &#8220;I really appreciate it, and hope this thread is also helpful to other families in the same position.&#8221;
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<li>Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a></li>
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Image: Shutterstock

Personal Finance

A Mother Asks, 'How Do You Explain Cutting Back To Kids?' Her Teenage Daughter Is Already Anxious And Afraid They're 'Poor'

"The 10X Rule" author Grant Cardone has helped many people start successful businesses and build wealth with real estate. He's started several companies, but he wasn't born into wealth. Although he hasn&#8217;t been shy about showing off his wealth for several years, he is a rags-to-riches story, and he just shared a <a href="https://x.com/GrantCardone/status/1928522076320575511">big secret to building massive wealth</a>.
"Plan for 10 times greater income, profits, and net worth than you need," Cardone explained.
You can apply this advice to any area of your life, whether it's your career, finances, relationships, or another category. Here's how you can use Cardone's lesson to build wealth.
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<h2 class="wp-block-heading">Set Higher Goals</h2>
No matter how ambitious you are, you might not be setting high enough goals. It's why Cardone advocates for 10X goals instead of 10% goals. Cardone will encourage someone who's earning $100,000 per year to figure out how they can earn $1 million per year instead of aspiring to earn $110,000 per year.
Ambitious goals offer more motivation. People work harder if the reward is justified, while a small 10% salary increase may not prompt the same level of effort and focus. Setting higher goals also ties into building a nest egg that is 10X higher than what you think you need. If you think a $2 million nest egg is enough, aim for a $20 million nest egg. That's Cardone's mentality.
Even if you don't end up with a $20 million nest egg, setting that as a target can help you exceed a $2 million nest egg. Setting ambitious goals will also make you think more carefully about how you spend your time and who you choose to spend time with.
Trending: <a href="https://www.benzinga.com/money/this-ai-imaging-technology-has-been-used-in-more-than-500-surgeries-now-you-can-be-part-of-the-ai-imaging-revolution">Be part of the next med-tech breakthrough for only $350 — 500+ surgeries already done with nView's AI system.</a>
<h2 class="wp-block-heading">It's Free To Raise Your Goals</h2>
Cardone points out in his X post that you don't have to spend any money to set higher goals. You just have to change some numbers in your goal, such as your annual income or nest egg. You can also adjust how long it will take for you to achieve your goals.
Raising your goals will invite you to take more action toward your goals. This outcome is more valuable than most books or coaching calls, and you can apply it to any area of your life.
However, you should only raise goals that you can control, such as your annual income and how much you contribute to your portfolio. If you have a $1 million portfolio and want it to become a $5 million portfolio in three years, that goal can lead to high-risk investments that produce significant losses.
Instead of setting a goal like having a $1 million portfolio turn into a $5 million portfolio within a few years, focus on contributing a set amount of dollars each month. The idea is that achieving your portfolio contribution goal should help you reach your end goal, but you shouldn't chase speculative investments if you fall behind your net worth goal.
See Also: <a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.
<h2 class="wp-block-heading">Work Harder Than The Rest</h2>
If you want to accomplish big goals, you have to work harder than the people around you. You may have to start working in the morning and stop working at night. It's even easier to embrace this lifestyle if you are a young professional who doesn't have a family yet.&nbsp;
It's important to remember that Cardone doesn't pursue money at the cost of everything else. He spends time with his family, exercises, and aims for a fulfilling life in multiple areas. Doom scrolling, putting off important goals, and spending time with the wrong people won't help you reach your long-term goals sooner.
People who work harder than the rest are usually rewarded, but not right away. It can take several months or years before all of your goals materialize.&nbsp;
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<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>
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Image: Shutterstock

Grant Cardone Shares The Secret To Building Massive Wealth: 'Plan For 10 Times Greater Income, Profits And Net Worth Than You Need'

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