Cantaloupe (NASDAQ:CTLP) Stock

CANTALOUPE INC

Cantaloupe

Cantaloupe Inc operates in the small ticket electronic payments industry. It provides wireless, cashless, micro-transactions, and networking services within the unattended Point of Sale (POS) market. Its products and services portfolio consists of ePort Cashless devices, eSuds, EnergyMisers, and Value-added services which include Loyalty and Prepaid, Intelligent Vending, and others. The company offers services to different industries covering car wash, taxi and transportation, laundry, vending, kiosk, amusement, and arcade. The company derives revenue from the sale or lease of equipment and services to the small ticket, unattended POS market, and the majority of its revenue is derived from subscription and transaction fees.

Cantaloupe Inc

Digital Turbine, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APPS#NASDAQ">APPS</a>) will release its fourth-quarter financial results after the closing bell on <a href="https://www.benzinga.com/quote/APPS/earnings">Monday, June 16</a>.
Analysts expect the Austin, Texas-based company to report quarterly earnings at 4 cents per share, down from 12 cents per share in the year-ago period. Digital Turbine projects quarterly revenue of $116.64 million, compared to $112.22 million a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Feb. 5, Digital Turbine reported quarterly earnings of 13 cents per share, which beat the analyst consensus estimate for a loss of one cent. Quarterly revenue clocked in at $134.64 million, which beat the consensus estimate of $123.68 million.
Digital Turbine shares fell 4.1% to close at $4.98 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/APPS/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul class="wp-block-list">
<li>B of A Securities analyst Omar Dessouky downgraded the stock from Neutral to Underperform and cut the price target from $3.5 to $1 on Nov. 15, 2025. This analyst has an accuracy rate of 66%.</li>
<li>Macquarie analyst Tim Nollen maintained a Neutral rating and lowered the price target from $3 to $2 on Nov. 7, 2024. This analyst has an accuracy rate of 60%.</li>
<li>Craig-Hallum analyst Anthony Stoss maintained a Buy rating and cut the price target from $5 to $4 on Nov. 7, 2024. This analyst has an accuracy rate of 61%.</li>
</ul>
Considering buying APPS stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><a href="https://www.benzinga.com/quote/APPS/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="582" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/12221351/image-203-1024x582.png" alt="" class="wp-image-948354" style="width:720px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/12221351/image-203-1024x582.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/12221351/image-203-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/12221351/image-203-768x437.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/12221351/image-203.png 1082w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Read This Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/25/06/45902941/top-2-defensive-stocks-that-may-keep-you-up-at-night-in-q2">Top 2 Defensive Stocks That May Keep You Up At Night In Q2</a></li>
</ul>
Photo via Shutterstock

Earnings

News

Price Target

Markets

Analyst Ratings

Trading Ideas

APPS

Top Wall Street Forecasters Revamp Digital Turbine Expectations Ahead Of Q4 Earnings

Shares of RH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RH#NYSE">RH</a>) rose sharply in today's pre-market trading as the company reported upbeat earnings for the first quarter and announced that it is maintaining its current FY25 guidance despite uncertainty <a href="https://www.benzinga.com/quote/rh/earnings">surrounding tariffs and macroeconomic events.</a>
RH reported first-quarter revenue of $813.95 million, missing the consensus estimate of $818.12 million, according to Benzinga Pro. The luxury retailer reported first-quarter adjusted earnings of 13 cents per share, surpassing analyst estimates calling for a loss of nine cents per share.
RH said it sees second-quarter revenue growth of 8% to 10%, and full-year 2025 revenue growth of 10% to 13%.
RH shares jumped 18.2% to $208.98 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul class="wp-block-list">
<li>Houston American Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUSA#NYSE">HUSA</a>) surged 140.3% to $16.87 in pre-market trading after gaining over 30% on Thursday.</li>
<li>U.S. Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USEG#NASDAQ">USEG</a>) shares jumped 62% to $2.30 in pre-market trading after adding 3% on Thursday.</li>
<li>Indonesia Energy Corporation Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDO#NASDAQ">INDO</a>) jumped 42.4% to $5.08 in pre-market trading after gaining 10% on Thursday.</li>
<li>Crown LNG Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGBS#NASDAQ">CGBS</a>) gained 42.4% to $0.12 in pre-market trading after gaining 12% on Thursday.</li>
<li>Trio Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPET#NYSE">TPET</a>) climbed 39.1% to $1.70 in pre-market trading after declining around 5% on Thursday.</li>
<li>Nine Energy Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NINE#NYSE">NINE</a>) rose 23.8% to $0.7285 in pre-market trading after gaining 4% on Thursday.</li>
<li>EON Resources Inc.  (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EONR#NYSE">EONR</a>) rose 22.3% to $0.6016 in pre-market trading.</li>
<li>ParaZero Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRZO#NASDAQ">PRZO</a>) surged 19.7% to $1.40 in pre-market trading.</li>
<li>Transocean LTD (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIG#NYSE">RIG</a>) gained 10% to $3.53 in pre-market trading.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul class="wp-block-list">
<li>Sharplink Gaming Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBET#NASDAQ">SBET</a>) shares tumbled 64.4% to $11.60 in pre-market trading after falling 12% on Thursday.</li>
<li>Rein Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNTX#NASDAQ">RNTX</a>) dipped 18.5% to $1.60 in pre-market trading after the company announced it paused enrollment and patient dosing at its clinical trial sites in the US foe its Phase 2 RENEW trial of LTI-03.</li>
<li>Greenlane Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNLN#NASDAQ">GNLN</a>) shares fell 15% to $0.013 in pre-market trading after jumping 100% on Thursday.</li>
<li>Healthcare Triangle Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HCTI#NASDAQ">HCTI</a>) declined 14.3% to $0.026 in pre-market trading after jumping 226% on Thursday.</li>
<li>ReShape Lifesciences Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RSLS#NASDAQ">RSLS</a>) fell 12.5% to $2.72 in pre-market trading. ReShape Lifesciences jumped over 35% on Thursday after the company announced it signed an exclusive U.S. distribution agreement with Recon Supply to distribution ReShape&#8217;s portfolio across VA and DoD Healthcare Systems.</li>
<li>Traws Pharma Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRAW#NASDAQ">TRAW</a>) dipped 11.7% to $1.59 in pre-market trading.</li>
<li>bioAffinity Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIAF#NASDAQ">BIAF</a>) declined 10.3% to $0.27 in pre-market trading after gaining around 4% on Thursday.</li>
<li>VEON Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VEON#NASDAQ">VEON</a>) declined 9.9% to $42.36 in pre-market trading after jumping 5% on Thursday.</li>
<li>FibroGen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) fell 3.9% to $0.30 in pre-market trading after the company reported a 1-for-25 reverse stock split</li>
<li>Adobe Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) fell 1.8% to $406.55 in pre-market trading. Adobe reported better-than-expected second-quarter financial results and raised its FY25 guidance.</li>
</ul>
Now Read This: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/25/06/45902941/top-2-defensive-stocks-that-may-keep-you-up-at-night-in-q2">Top 2 Defensive Stocks That May Keep You Up At Night In Q2</a> </li>
</ul>
Photo via Shutterstock

Pre-Market Outlook

Movers

ADBE

BIAF

CGBS

EONR

FGEN

GNLN

HCTI

HUSA

INDO

NINE

PRZO

RNTX

RSLS

SBET

TPET

TRAW

USEG

VEON

Why RH Shares Are Trading Higher By Around 18%; Here Are 20 Stocks Moving Premarket

Macro Economic Events

Econ #s

Economics

Eurozone Industrial Production (MoM) For April -2.4% Vs. -1.6% Est.; 2.4% (Revised) Prior

Eurozone Trade Balance For April 9.9B Vs. 18.2B Est.; 36.8B Prior

TAL Education Unveils TalPad T100 Kids' Tablet To Boost Learning, Cut Tutor Costs

On Thursday, Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) filed a lawsuit against a Hong Kong-based developer of an <a href="https://www.benzinga.com/news/24/08/40089681/google-takes-action-against-deepfake-porn-in-search-results-as-others-like-mark-zuckerbergs-meta-and">explicit AI deepfake app</a>, alleging the company violated its advertising policies tens of thousands of times and intensified growing concerns over the misuse of artificial intelligence for non-consensual content.
What Happened: Meta is suing Joy Timeline HK Limited, the creator of CrushAI, an app capable of generating sexually explicit deepfakes, <a href="https://edition.cnn.com/2025/06/12/tech/meta-sues-explicit-deepfake-app-crushai">reported</a> CNN.
The company claims the app maker ran over 87,000 ads that violated Meta's rules across Facebook and Instagram by promoting "nudifying" technology — tools that digitally remove clothing from <a href="https://www.benzinga.com/government/24/04/38262970/ai-generated-sexually-explicit-deepfakes-on-uk-government-radar-as-new-law-seeks-to-criminalize-them">images of people without consent</a>.
According to the complaint, filed in a Hong Kong court, the defendants created a network of 170 business accounts and 135 Facebook pages, managing ads that largely targeted users in the U.S., Canada, Australia, Germany and the U.K.
Also Read:&nbsp;<a href="https://www.benzinga.com/media/25/05/45680165/meta-hits-1-billion-monthly-ai-users-eyes-future-with-subscriptions" target="_blank" rel="noreferrer noopener">Meta Hits 1 Billion Monthly AI Users, Eyes Future With Subscriptions</a>
Meta says it has spent $289,000 responding to regulatory inquiries and investigating the violations. "This is an adversarial space," the company said in a statement, noting that such actors "evolve their tactics to avoid detection," the report added.
Why It's Important: Tech platforms are under increasing pressure to combat non-consensual, explicit deepfakes, which are easier to create with AI.
Victims have <a href="https://www.benzinga.com/news/24/01/36818568/elon-musks-x-blocks-taylor-swift-searches-amid-deepfake-dilemma">included public figures</a> like Taylor Swift and Rep. Alexandria Ocasio-Cortez, as well as high school girls. In response, the Take It Down Act—<a href="https://www.benzinga.com/government/regulations/25/03/44100458/melania-trump-attacks-democrats-for-skipping-key-discussion-on-deepfakes-first-lady-wants-tougher-safeguards-for-children">banning the sharing of such content</a> and mandating swift removal by platforms—was signed into law last month.
In January, reports revealed that CrushAI, a nudifying app, ran thousands of ads on Meta platforms, despite Meta&#8217;s policies banning adult content and sexual exploitation.
This led Sen. Dick Durbin (D-IL) to question Meta CEO Mark Zuckerberg about the company&#8217;s oversight.
Earlier this month, CBS <a href="https://www.cbsnews.com/news/meta-instagram-facebook-ads-nudify-deepfake-ai-tools-cbs-news-investigation/">News</a> found more ads promoting similar apps, some using sexualized deepfakes of celebrities. In response, Meta said it removed the ads, deleted associated Pages and permanently blocked the related URLs.
Price Action: Meta shares declined 0.11% on Thursday and dropped another 1.75% in pre-market trading on Friday, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Benzinga's Edge Stock Rankings indicate a continued upward trend for META 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'">More detailed 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/2025/06/13044426/Screenshot-2025-06-13-at-2.14.03%E2%80%AFPM.png" alt="" class="wp-image-948675" /></a></figure>
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>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Skorzewiak / Shutterstock.com

Equities

Legal

Tech

Media

Meta Sues Hong Kong-Based Deepfake App Maker Accusing It Of Running 87,000 Banned Ads As Zuckerberg Faces Pressure Over AI-Generated Nudity And Exploitation

UCloudlink Halts Financing Plans, Will Not Renew Or File Form F-3 Until Q1 2026

<h3>Companies Reporting Before The Bell</h3>
• Root (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROOT#NASDAQ">ROOT</a>) is likely to report quarterly loss at $0.19 per share on revenue of $38.59 million. 
• MoneyHero (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNY#NASDAQ">MNY</a>) is projected to report earnings for its first quarter. 
<h3>Companies Reporting After The Bell</h3>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ROOT

Earnings Scheduled For June 13, 2025

Accusing a former employee of stealing confidential materials related to Optimus and launching a rival startup, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has filed a lawsuit in federal court.
What Happened: Zhongjie "Jay" Li, who was part of the team working on Tesla's robotic hand sensors from August 2022 to September 2024, allegedly downloaded sensitive files just before resigning from his position, Fortune <a href="https://fortune.com/2025/06/12/tesla-sues-ex-optimus-engineer-robot-trade-secrets/">reports</a>. Filed on Wednesday in San Francisco, the lawsuit claims that within a week of his departure, Li incorporated a new company, Proception Inc., which is now based in Palo Alto.
Within five months, Proception reportedly showcased humanoid hands similar to Tesla's own designs. The lawsuit also names Proception as a defendant and accuses both parties of misappropriating trade secrets.
See Also: <a href="https://www.benzinga.com/news/movers-shakers/25/06/45917407/elon-musk-net-worth-down-64-billion-in-2025-but-tesla-ceo-still-richer-than-value-of-ford-general-motors-stellantis-toyota-combined">Elon Musk Net Worth Down $64 Billion In 2025 — But Tesla CEO Still Richer Than Value Of Ford, General Motors, Stellantis, Toyota Combined</a>
Why It Matters: CEO Elon Musk has described the company&#8217;s robotic hand as "the most sophisticated ever made," and projected that Optimus could become the company's most valuable product in the long run.
Last month, Musk shared his belief that humanoid robots will <a href="https://www.benzinga.com/news/topics/25/05/45710538/elon-musk-says-humanoid-robots-will-start-impacting-countries-gdps-in-4-to-5-years-robot-cars-even-sooner-in-just-1-to-2-years">start impacting countries' GDPs in &#8220;4-5 years.&#8221;</a> Musk has also asserted that Optimus can learn tasks <a href="https://www.benzinga.com/markets/equities/25/05/45536080/elon-musk-says-teslas-optimus-can-learn-tasks-by-watching-youtube-videos-just-like-a-human">simply by watching YouTube videos</a>, much like humans can.
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang has suggested that Optimus might be the <a href="https://www.benzinga.com/news/25/05/45691451/teslas-optimus-may-be-the-first-humanoid-robot-to-achieve-high-volume-and-tech-scale-says-nvidia-ceo" target="_blank" rel="noreferrer noopener">first humanoid robot to reach both mass production and advanced technical capability</a>. &#8220;I think this is likely to be the next multi-trillion-dollar industry,&#8221; he said.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/45919550/cathie-wood-buys-tesla-again-calls-elon-musks-ev-giant-largest-ai-project-on-earth-report">Cathie Wood Buys Tesla Again, Calls Elon Musk&#8217;s EV Giant &#8216;Largest AI Project On Earth:&#8217; Report</a></li>
</ul>
Photo courtesy: Shutterstock

NVDA

TSLA

Elon Musk's Tesla Files Lawsuit Alleging Ex-Employee Stole Humanoid Tech To Launch Rival

Former President Barack Obama has quietly taken on the role of leadership coach to Airbnb (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>) co-founder Brian Chesky, meeting weekly in what the billionaire calls "night school" and pressing him to steer the home-sharing platform with deliberate purpose rather than on autopilot.
What Happened: In a new podcast appearance, Chesky recounted Obama's warning to shun leaders who act like "self-driving cars" and revealed homework-style assignments that reshaped both his personal life and the direction of Airbnb.
Chesky recently told Michelle Obama's "IMO" podcast that the calls ran a full hour every week, stacked on top of 100-hour workweeks in the run-up to Airbnb's 2020 IPO. 
&#8220;I basically had my day job during the day, and then I had my night school with the former president,&#8221; he said. The former president urged Chesky to think deeply about relationships with colleagues, shareholders and society — and plot an intentional course.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="BRIAN CHESKY Gets Honest About the Future of AI, Online Dating, and Maintaining Friendships &#x7C; IMO" width="500" height="281" src="https://www.youtube.com/embed/uRaIABQXwBo?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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</figure>
"He told me something that I'll never forget," Chesky revealed. "He said you should institutionalize your intentions, so that even when you're a public company, you can make sure not to compromise your vision.&#8221;
See also: <a href="https://www.benzinga.com/personal-finance/management/25/06/45911214/dave-ramsey-told-a-31-year-old-man-making-less-than-10k-a-year-you-have-a-pretty-extreme-income-problem-but-youre-not-bankrupt">Dave Ramsey Told A 31-Year-Old Man Making Less Than $10K A Year, You Have A &#8216;Pretty Extreme Income Problem,&#8217; But You&#8217;re Not Bankrupt</a>
&#8220;And what he meant by that, I think, was that you should be more thoughtful about what you're making, why you're making it, and the impact of what you're making is on people," he clarified. Chesky went on to add that Obama's advice made a "really, really big difference" at Airbnb.
Why It Matters: This wasn&#8217;t the first instance of Chesky heaping praise on Obama&#8217;s advice. In a separate showing on the Rapid Response podcast back in 2024, Chesky revealed how Obama, during a conversation over dinner in 2017, advised him to lock Airbnb's purpose into the company bylaws before going public: "Institutionalize your intentions so you don't compromise your vision." The directive inspired the company's five-stakeholder framework and the creation of a Host Endowment fund.
The mentorship didn't stop at boardroom philosophy. Obama's push to stay "hands-on" with relationships inspired Chesky's $100 million Voyager Scholarship for public-service students and his own habit of phoning friends between busy workweeks, a tactic he says keeps success from becoming isolating.
Even Chesky's now-famous 2008 "<a href="https://www.benzinga.com/news/20/12/18700895/how-airbnb-sold-30-000-in-obama-mccain-ipoats-cereal-in-early-funding-days-1">Obama O's</a>" cereal stunt that kept Airbnb alive remains a popular anecdote in the startup&#8217;s origin story.
Read next: <a href="https://www.benzinga.com/markets/earnings/25/06/45909157/larry-ellison-says-most-of-the-worlds-valuable-data-is-in-oracle-as-ai-demand-skyrockets">Larry Ellison Says &#8216;Most Of The World&#8217;s Valuable Data&#8217; Is In Oracle As AI Demand Skyrockets</a>
Photo courtesy: Shutterstock

ABNB

Barack Obama Once Told Airbnb CEO Brian Chesky Not To Lead Like A 'Self-Driving Car:' Here's What Former President Meant

The student loan policies of the Trump administration, backed by Congressional Republicans, could pose a significant risk to the U.S. economy, potentially overshadowing concerns about Trump&#8217;s tariff policies, according to an expert.
What Happened: The student loan debt in the U.S. stands at an alarming $1.6 trillion, owed by nearly 43 million Americans, according to the U.S. Department of Education. Despite the gravity of the issue, discussions about student loan relief in Congress have been replaced by efforts to increase the burden on borrowers, as <a href="https://www.latimes.com/business/story/2025-06-12/forget-inflation-the-gops-policies-on-student-loans-will-crack-the-economy">reported</a> by the Los Angeles Times.
Aissa Canchola Bañez, Policy Director for the Student Borrower Protection Center, recently voiced concern over the potential economic harm this could cause. She criticized the administration for economically pressuring millions of Americans, which could further impact an already struggling economy.
"Instead of helping the 5 million borrowers that have fallen into default and the millions more that are behind and now at risk of default later this year, this Administration appears set on inflicting massive economic harm on millions of Americans.
Since the resumption of student loan payments, credit scores of about 9.7 million borrowers have significantly dropped, as per&nbsp;a report by the Federal&nbsp;Reserve Bank of New York. This has resulted in increased rejection rates for mortgage refinancings and other loans, which could further slow down the economy.
The budget bill, advanced by the GOP-controlled House, may heighten the financial strain on families already grappling with the cost of higher education. Critics contend that the primary winners of these proposed changes would be private student loan providers, including banks and private equity firms. SEE ALSO:&nbsp;<a href="https://benzinga.com/news/topics/25/06/45908840/as-layoffs-mount-one-question-is-getting-louder-what-happens-to-skyscraper-offices-in-cities-like-bos" target="_blank" rel="noreferrer noopener">As Layoffs Mount, One Question Is Getting Louder: What Happens To Skyscraper Offices In Cities Like Boston When People Are Replaced By AI?</a>
Why It Matters:&nbsp;On April 21, Education Secretary Linda McMahon announced that defaulted loans would be sent to collections, allowing wage garnishment and seizure of tax refunds and Social Security benefits. Following public backlash, the administration reversed plans to take Social Security from about 450,000 defaulting borrowers aged 62 and older.
Nevertheless, proposed changes by Republican lawmakers could <a href="https://www.benzinga.com/government/25/06/45878605/the-student-loan-funding-gap-is-growing-wider-is-congress-making-the-divide-irremediable">exacerbate </a>the student loan crisis, raising the cost of college for millions and accelerating a shift towards private lending. The draft legislation proposes eliminating or restricting several key federal student loan programs, which could deepen inequities and reduce access to higher education.
Furthermore, the Trump administration&#8217;s decision to restart collections <a href="https://www.benzinga.com/news/education/25/06/45880010/elizabeth-warren-says-millions-face-financial-scarlet-letter-as-trump-restarts-student-loan-collections-can-cost-someone-a-job-opportunity">on defaulted</a> federal student loans could result in millions of borrowers facing a &#8220;financial scarlet letter,&#8221; putting home purchases and job prospects at risk. The New York Federal Reserve projects a surge in defaults this summer, with roughly 2.2 million borrowers already seeing credit scores plunge more than 100 points since negative reporting resumed last fall.
<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/06/45918307/bitcoin-ethereum-dogecoin-bleed-after-israel-launches-premptive-strike-against-iran-analyst-foresees-lower-levels-for-eth-if-it-fails-to-hold-this-support" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Bleed After Israel Launches &#8216;Premptive Strike&#8217; Against Iran: Analyst Foresees &#8216;Lower Levels&#8217; For ETH If It Fails To Hold This Support &#8211; Grayscale Bitcoin Mini Trust (BTC) C</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Trump's Student Loan Policies Could Inflict 'Massive Economic Harm,' For Americans, Warns Expert: 'Instead Of Helping The 5 million Borrowers...'

In a bold projection, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) bull and Galaxy&nbsp;Digital&nbsp;CEO Mike Novogratz said Thursday that the apex cryptocurrency could grow tenfold to $1 million, eventually replacing gold as the top store of value asset.
What happened: During an <a href="https://www.cnbc.com/video/2025/06/12/bitcoin-is-now-a-macro-asset-says-galaxy-digital-ceo-mike-novogratz.html">interview</a> with CNBC, Novogratz called Bitcoin an &#8220;institutionalized macro asset&#8221; that investors assess alongside traditional heavyweights such as gold, silver and the S&amp;P 500
"People thought we were crazy," Novogratz remarked, recalling on the skepticism that once surrounded the cryptocurrency.
This turnaround, Novogratz argues, happened after BlackRock's Larry Fink, one of Wall Street's most influential voices, <a href="https://in.benzinga.com/markets/cryptocurrency/25/01/43150952/blackrock-ceo-larry-fink-says-bitcoin-could-rise-to-700000-on-fiat-fears-if-youre-frightened-of-the-debasement">threw his weight behind Bitcoin</a>.
&#8220;Once Larry Fink said BlackRock is getting behind this, all that pushing the snowball uphill that started rolling downhill. And now we&#8217;ve got all these treasury companies buying Bitcoin. We&#8217;ve got sovereign wealth buying Bitcoin. We&#8217;ve got retail investors buying Bitcoin,&#8221; Novogratz said. &#8220;I think that&#8217;s now a ball rolling downhill.&#8221;
Novogratz predicted that over time, young people would find it more appealing than the older generation. 
&#8220;And so gold slowly gets replaced by Bitcoin. If you look at gold&#8217;s market cap and Bitcoin&#8217;s market cap, Bitcoin has a long way to go, 10x, and so that&#8217;s $1 million in Bitcoin just to be where gold is.&#8221;
As of this writing, gold was indeed the most valued asset in the world, with a capitalization of around $23.144 trillion. Bitcoin&#8217;s market capitalization stood at $2.066 trillion.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45740537/forget-dollars-willy-woo-says-bitcoin-will-be-priced-against-global-gdp-gold-used-to-be-that-money-btc-is-the-challenger">Forget Dollars: Willy Woo Says Bitcoin Will Be Priced Against Global GDP — &#8216;Gold Used To Be That Money, BTC Is The Challenger&#8217;</a>
Why It Matters: Interestingly, Novogratz's optimism about Bitcoin displacing gold comes at a time when the <a href="https://www.benzinga.com/crypto/25/06/45919140/gold-backed-cryptos-surge-as-israel-iran-tensions-ignite-safe-haven-rush-coins-linked-to-tether-pax-top-30-ytd-outshine-bitcoin">apex cryptocurrency</a> has sharply fallen due to geopolitical tensions in the Middle East. 
In fact, it was gold that behaved like a risk-off asset as investors sought refuge in the safe haven following&nbsp;<a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45918307/bitcoin-ethereum-dogecoin-bleed-after-israel-launches-premptive-strike-against-iran-analyst-foresees-lower-levels-for-eth-if-it-fails-to-hold-this-support" target="_blank" rel="noreferrer noopener">Israel&#8217;s strikes on Iran</a>.
Price Action:&nbsp; At the time of writing, BTC was exchanging hands at $104,367.99, down 3.62% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;Spot gold was up 0.83% to $3,414.82 per ounce as of this writing.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45876652/trump-family-backed-bitcoin-mining-firm-acquires-23-million-worth-of-btc-signals-more-accumulation-in-the-future">Trump Family-Backed Bitcoin Mining Firm Mines $23 Million Worth Of BTC, Signals More Accumulation In The Future</a></li>
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Image Via Shutterstock

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

Cryptocurrency

$BTC

$ETH

Mike Novogratz Says Bitcoin Could Reach $1 Million As BlackRock's Larry Fink Pushes BTC Adoption, Gold Gets Replaced: 'A Ball Rolling Downhill'

A new poll from Quinnipiac University shows that President Donald Trump's job approval has fallen to 38%, the lowest point of his second term.
What Happened: The poll was conducted between June 5 and 9 among 1,265 registered voters, The Hill <a href="https://thehill.com/homenews/administration/5346550-trump-job-approval-drops-survey/?tbref=hp">reports.</a> It found that 54% disapprove of Trump's performance, while 38% signaled their approval. The new figures showcase a sustained decline from 46% in January. Approval fell to 45% in February, 42% in March, and 41% in April. No data was published for May.
Trump scored highest on immigration, where 43% approved of how he handled the issue, but numbers are down from 45% in April. On deportations, approval dropped to 40% from 42%.
His ratings on other major issues are as follows: 40% on the economy, 38% on trade, 37% on universities, 35% on the Israel conflict and 34% on the Russia-Ukraine war.
"As the Russia – Ukraine war grinds through its third year, Americans make it clear they have little appetite for the way the Trump administration is handling the situation," said Tim Malloy, a polling analyst at Quinnipiac University.
See Also: <a href="https://www.benzinga.com/news/politics/25/06/45894541/trump-sports-president-military-birthday-parade">Airtime Denied: Trump B-Day, Military Parade Gets Streaming Treatment</a>
Why It Matters: Figures from the Quinnipiac University survey differ slightly from other polls. As per Decision Desk HQ's polling averages, Trump currently holds a 47% approval rating, with 49.9% disapproving of his performance.
A separate YouGov/The Economist survey conducted this week indicates that 45% of registered voters approve of Trump, while 53% disapprove.
These numbers coincide with Trump's first six months in office, during which he made headlines for his <a href="https://www.benzinga.com/markets/equities/25/06/45910211/trumps-first-six-months-these-4-markets-crush-sp-500-as-tariffs-boomerang">aggressive tariff policies</a>, <a href="https://www.benzinga.com/news/politics/25/06/45900294/trump-deploys-marines-to-la-with-authority-to-detain-civilians-california-challenges-military-involvement-in-immigration-enforcement">crackdown on immigration</a> and the <a href="https://www.benzinga.com/markets/economic-data/25/06/45919422/trumps-one-big-beautiful-bill-is-the-largest-redistribution-from-poor-to-rich-in-american-history-says-economist-justin-wolfers-amid-tax-cuts-spending-s">"big, beautiful bill."</a>
Tomorrow, Trump will celebrate his 79th birthday, which <a href="https://www.benzinga.com/markets/25/05/45184301/us-armys-250th-anniversary-parade-to-coincide-with-trumps-79th-birthday">coincides with the U.S. Army's 250th anniversary</a>, to be celebrated with a full-scale parade featuring more than 6,000 troops, around 100 military vehicles and almost 50 aircraft at the National Mall in Washington DC.
Read Next:
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Photo courtesy: Joey Sussman / Shutterstock.com

Politics

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<li>POD1UM-303/InterAACT 2 is the first and largest global Phase 3 trial evaluating a PD-1 inhibitor in combination with chemotherapy for the treatment of patients with advanced SCAC not previously treated with systemic chemotherapy</li>
<li>The trial met its primary endpoint; treatment with retifanlimab in combination with platinum-based chemotherapy (carboplatin-paclitaxel) resulted in clinically meaningful improvements in progression-free survival and overall survival</li>
<li>In May 2025, the U.S. Food and Drug Administration (FDA) approved Zynyz&#xAE; (retifanlimab-dlwr) in combination with carboplatin and paclitaxel and as a single agent for the treatment of advanced SCAC; submissions to other global regulatory agencies are also under review</li>
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INCY

Reported Earlier, Incyte's Retifanlimab (Zynyz) Shows Median PFS of 9.3 Months vs 7.4 With Placebo In SCAC Phase 3 Study Published In The Lancet Following May 2025 FDA Approval

GameStop estimates that the net proceeds from the offering will be approximately $2.23 billion (or approximately $2.68 billion if the initial purchaser exercises its option to purchase additional notes in full), after deducting the initial purchaser's discount and commissions and estimated offering expenses payable by GameStop.
GameStop intends to use the net proceeds from the offering for general corporate purposes, including making investments in a manner consistent with GameStop's Investment Policy and potential acquisitions.

Reported Earlier, GameStop To Raise $2.25B From 0.00% Convertible Notes Due 2032, With Net Proceeds Targeted For Corporate Investments

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<li>Daily nonstop service from New York's JFK introduces the airline's award-winning service and low fares to Honduras</li>
<li>To celebrate launch, limited $119 one-way fares available online only on jetblue.com</li>
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JBLU

Reported Earlier, JetBlue Begins Daily Flights To San Pedro Sula, Connecting New York Travelers To Honduras

IPOs

BACC

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Reported Earlier, Norfolk Southern Taps Transportation Veteran Richard Anderson As New Independent Chair

Expanded indication builds on existing U.S. FDA approval of mRESVIA for adults aged 60 and older

MRNA

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Reported Earlier, Northern Dynasty And Pebble Partnership Agree To EPA's Request For Additional 20-Day Abeyance Through July 3, 2025

Press Releases

Cantaloupe, Inc. to Report Second Quarter Fiscal Year 2025 Results on February 6, 2025

Cantaloupe, Inc. Collaborates with Fundbox to Launch Cantaloupe Capital, Making Small Business Financing Available for Self-Service Operators

Cantaloupe, Inc. Reports Second Quarter Fiscal Year 2025 Financial Results

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Carnival Cruise Line Partners with Cantaloupe, Inc. to Power Self-Service Experiences at Carnival's Celebration Key

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