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Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) plunged 20.79% during the pre-market trading session on Friday, as it cut its full-year earnings forecast amid an unpredictable macroeconomic environment.
What Happened:&nbsp;The athletic apparel company&#8217;s Q1 <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">earnings</a>, released on Thursday, exceeded analysts&#8217; expectations. However, the company has adjusted its full-year earnings forecast due to a &#8220;dynamic macroenvironment.&#8221; The company is dealing with tariffs and a potential deceleration in the U.S. economy. 
CEO&nbsp;Calvin McDonald&nbsp;acknowledged the challenges posed by tariffs and concerns about a potential slowdown in the U.S. economy. Despite these challenges, McDonald expressed the company&#8217;s intention to capitalize on its&nbsp;strong financial position and competitive&nbsp;advantages.
McDonald also noted that U.S. consumer behavior is cautious and deliberate, expressing his dissatisfaction with the U.S. growth. The company&#8217;s CFO,&nbsp;Meghan Frank, disclosed plans to introduce &#8220;strategic price increases, examining each item across our range,&#8221; to counterbalance the effects of tariffs. She emphasized that these hikes would be applicable to a minor fraction of their products and would be &#8220;modest in nature.&#8221;
The company&#8217;s shares fell by 5% in after-hours trading following the announcement.
SEE ALSO:&nbsp;<a href="https://benzinga.com/markets/macro-economic-events/25/06/45790762/trumps-tariff-plan-could-cut-deficit-by-2-8-trillion-over-a-decade-but-not-without-" target="_blank" rel="noreferrer noopener">Trump&#8217;s Tariff Plan Could Cut Deficit By $2.8 Trillion Over A Decade — But Not Without Consequences, Warns CBO</a>
Why It Matters: Lululemon's report follows a wave of retailers cutting or withdrawing their guidance amid uncertainty over President Donald Trump's tariff policies. Companies like Abercrombie &amp; Fitch (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) and Macy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) lowered their profit forecasts, while others, such as American Eagle Outfitters (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEO#NYSE">AEO</a>), scrapped their full-year outlook entirely.
On the earnings call, Frank said Lululemon's outlook factors in a 30% tariff on Chinese imports and a 10% tariff on goods from other sourcing countries. In 2024, the company sourced most of its products from Vietnam (40%), followed by Cambodia, Sri Lanka, Indonesia, and Bangladesh. Lululemon outsources all manufacturing and fabric supply to external vendors. 
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Investors will be closely monitoring Lululemon&#8217;s strategies to navigate these challenges and sustain its growth momentum in the face of economic uncertainties.
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<li>READ MORE:&nbsp;<a href="https://benzinga.com/pressreleases/24/10/ab41310379/claritycheck-launches-innovative-reverse-lookup-tool-to-empower-users-against-digital-scams" target="_blank" rel="noreferrer noopener">ClarityCheck Launches Innovative Reverse Lookup Tool to Empower Users Against Digital Scams &#8211; Benzinga</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.

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Lululemon Stock Crashes Nearly 21% In Friday Pre-Market: What's Going On?

Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) tumbled 9.14% to $0.1726 on Friday as a public dispute between President Donald Trump and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk sent <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">shockwaves through cryptocurrency markets</a>. 
The meme cryptocurrency, which features a Shiba Inu logo and was created by Billy Markus and Jackson Palmer in December 2013, dropped alongside broader crypto selloffs that saw Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fall 0.98% to $103,793 and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) decline 5.08% to $2,75, as of 6:11 am Eastern Time. Total crypto market cap fell 3.77% to $3.18 trillion.
The market turbulence coincided with escalating tensions between Trump and Musk after the Tesla CEO criticized the president&#8217;s spending bill as a &#8220;massive, outrageous, pork-filled Congressional abomination&#8221; on social media. Trump retaliated by threatening to <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">terminate billions in government contracts</a> and subsidies for Musk&#8217;s companies, including Tesla and SpaceX.
"The sharp moves in TRUMP and DOGE demonstrate just how quickly political drama can move markets, especially when tied to cryptocurrencies with strong narrative-driven communities," said Jordan Major, author of the Finbold research. "As crypto markets mature, we're seeing them become more sensitive to real-world political headlines, and this latest episode is a prime example of that dynamic in action."
See Also: <a href="https://www.benzinga.com/markets/equities/25/06/45809443/larry-summers-identifies-3-key-reasons-for-rising-us-debt-but-doesnt-think-trumps-big-beautiful-bill-is-the-medicine-the-country-needs">Larry Summers Identifies 3 Key Reasons For Rising US Debt, But Doesn&#8217;t Think Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Is The Medicine The Country Needs</a>
Why It Matters: Tesla shares plunged 14.3% on Thursday following Trump&#8217;s threats, but recovered 5.02%, trading at $298.9 in pre-market trading on Friday. Musk had departed his role as senior adviser at the Department of Government Efficiency just days before the public confrontation escalated.
Dogecoin&#8217;s price sensitivity to Musk-related developments stems from the billionaire&#8217;s historical influence over the token. Musk began tweeting about Dogecoin in early 2021, calling it his &#8220;favorite coin&#8221; and triggering massive rallies culminating in his Saturday Night Live appearance. 
The selloff triggered <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">massive liquidations across crypto markets</a>, with 226,781 traders liquidated in 24 hours totaling $979.88 million in forced position closures.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/market-summary/25/06/45809203/investors-pay-the-price-as-musk-trump-war-of-words-escalates-once-allies-now-foes-their-linked-stocks-crypto-and-funds-wipe-out-155-billion-in-a-single-day">Investors Pay The Price As Musk-Trump War Of Words Escalates: Once Allies, Now Foes, Their Linked Stocks, Crypto And Funds Wipe Out $155 Billion In A Single Day</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.
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Ascendiant Capital analyst Edward Woo maintains Lucid Diagnostics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUCD#NASDAQ">LUCD</a>) with a Buy and raises the price target from $7.5 to $7.75.

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Ascendiant Capital analyst Edward Woo maintains PAVmed (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAVM#NASDAQ">PAVM</a>) with a Buy and lowers the price target from $19.5 to $19.

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On Thursday, June 5, U.S. markets closed lower as Tesla shares plunged amid escalating tensions between Elon Musk and Donald Trump, wiping out significant market value. Optimism from renewed U.S.-China tariff dialogue was overshadowed by weak economic data, rising jobless claims, and inflation concerns. Broader market sentiment remained cautious ahead of key labor reports and ongoing uncertainty over Federal Reserve policy.
Economic data showed that U.S. unit labor costs rose 6.6% in Q1, while nonfarm productivity declined 1.5%. The trade deficit narrowed to $61.6 billion, marking its lowest since September 2023.
Most S&amp;P 500 sectors fell Thursday, led by consumer discretionary, materials, and staples, while communication services ended higher.
The Dow closed lower by 0.25% at 42,319.74, the S&amp;P 500 declined 0.53% to 5,939.30, and the Nasdaq slid 0.83% to 19,298.45.
<h2 class="wp-block-heading">Asia Markets Today</h2>
On Friday, Japan&#8217;s Nikkei 225 closed 0.49% higher at 37,740.00, led by gains in the Real Estate, Banking, and Textile sectors.
Australia&#8217;s S&amp;P/ASX 200 slid 0.27%, ending the session at 8,515.70, led by losses in the Gold, IT, and Healthcare sectors.
India&#8217;s Nifty 50 was up 1.01% at 25,002.45, and the Nifty 500 rose 1.01% to 23,166.20.
China&#8217;s Shanghai Composite was up 0.04% at 3,385.36, and Shanghai Shenzhen CSI 300 declined 0.09% to 3,873.98.
Hong Kong&#8217;s Hang Seng closed the session 0.48% lower at 23,792.54.
<h2 class="wp-block-heading">Eurozone at 05:45 AM ET</h2>
The European STOXX 50 index was down 0.02%.
Germany&#8217;s DAX index declined 0.22%.
France&#8217;s CAC 40 fell 0.07%.
U.K.&#8217;s FTSE 100 index traded higher by 0.14%.
<h2 class="wp-block-heading">Commodities at 05:45 AM ET</h2>
Crude Oil WTI was trading lower by 0.44% at $63.10/bbl, and Brent was down 0.34% at $65.13/bbl.
Oil prices dipped Friday but were set for weekly gains as renewed U.S.-China trade talks lifted demand hopes despite Saudi price cuts, supply hikes, and ongoing geopolitical risks.
Natural gas rose 1.69% to $3.739.
Gold traded higher by 0.12% to $3,379.15, Silver rose 1.24% to $36.250, and Copper fell 1.31% to $4.8683.
<h2 class="wp-block-heading">U.S. Futures at 05:45 AM ET</h2>
Dow Jones futures rose 0.34%, the S&amp;P 500 gained 0.40%, and the Nasdaq 100 was up 0.41%.
<h2 class="wp-block-heading">Forex at 05:45 AM ET</h2>
The U.S. Dollar Index rose 0.23% to 98.97, USD/JPY was up 0.51% to 144.17, and USD/AUD gained 0.21% to 1.5405.
The dollar rose slightly Friday but faced a weekly loss amid weak U.S. data and trade tensions. Focus shifted to payrolls, while the euro and yen slipped on central bank signals.
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OpenAI CEO Sam Altman said AI can now perform entry-level employee tasks, while Gen Z workers increasingly view artificial intelligence as a workplace companion rather than competition, as tech leaders predict the first billion-dollar single-person company could emerge next year.
What Happened: Altman told a panel with Snowflake CEO Sridhar Ramaswamy that AI agents can effectively handle intern-level work today, with capabilities expanding rapidly. &#8220;Today (AI) is like an intern that can work for a couple of hours, but at some point it&#8217;ll be like an experienced software engineer that can work for a couple of days,&#8221; Altman said, <a href="https://fortune.com/2025/06/05/openai-ceo-sam-altman-ai-as-good-as-interns-entry-level-workers-gen-z-embrace-technology/?itm_source=parsely-api">reported </a>Fortune.
The 40-year-old CEO predicted AI will soon discover new knowledge and solve complex business problems autonomously. Meanwhile, 51% of Gen Z workers view generative AI as a co-worker or friend, compared to 40% of millennials and 35% of older generations, <a href="https://www.resume.org/research/majority-of-gen-z-chatgpt-users-view-it-as-a-coworker/">according</a> to Resume.org survey data. Altman noted generational differences in AI usage: &#8220;Older people use ChatGPT as a Google replacement. Maybe people in their 20s and 30s use it as a life advisor, and then, like people in college, use it as an operating system.&#8221;
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang reinforced the adoption imperative, warning, &#8220;You&#8217;re not going to lose your job to an AI, but you&#8217;re going to lose your job to someone who uses AI&#8221; at the Milken Institute <a href="https://www.youtube.com/watch?v=HT8-KPAjpiA">conference.</a> See Also: <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/45808537/dell-rated-underperform-as-growth-set-to-subside-in-the-second-half-hp-deemed-more-compelling-by-analyst">Dell Rated &#8216;Underperform&#8217; As Growth Set to Subside In &#8216;The Second Half:&#8217; HP Deemed More Compelling By Analyst</a> Why It Matters: AI development carries direct market implications for workforce sectors. Anthropic CEO Dario Amodei stated the first billion-dollar company staffed by <a href="https://www.benzinga.com/tech/25/05/45602384/jeff-bezos-backed-anthropics-ceo-says-the-first-billion-dollar-company-staffed-by-one-person-will-appear-next-year-hallucinations-unlikely-to-delay-lean-startups">one person will appear in 2026</a>, affecting revenue-per-employee ratios and investor valuations.
Venture capitalist Chamath Palihapitiya stated <a href="https://www.benzinga.com/25/03/44528268/chamath-palihapitiya-agrees-you-should-no-longer-learn-to-code-says-parents-should-advise-their-kids-to-focus-on-these-subjects-instead">engineers&#8217; roles will become &#8220;supervisory,</a> at best, within 18 months,&#8221; recommending parents direct children toward philosophy, psychology, and English writing over coding. AI prompt engineers earn salaries up to $335,000 without technical backgrounds.
Companies now prioritize AI skills over traditional experience, with OpenAI&#8217;s Operator agent offering &#8220;hands-free&#8221; workflows while Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google integrates Gemini 2.5 Pro into Chrome for task automation. Read Next:
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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.
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GOOGL

NVDA

Sam Altman Says AI Can Replace Interns, But Gen Z Is Already Treating It Like A Work Buddy

Ascendiant Capital analyst Edward Woo maintains Quantum Computing (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>) with a Buy and raises the price target from $14 to $22.

QUBT

Ascendiant Capital Maintains Buy on Quantum Computing, Raises Price Target to $22

American Vanguard (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVD#NYSE">AVD</a>) reported quarterly losses of $(0.30) per share which missed the analyst consensus estimate of $(0.03) by 900 percent. This is a 600 percent decrease over earnings of $0.06 per share from the same period last year. The company reported quarterly sales of $115.80 million which missed the analyst consensus estimate of $127.00 million by 8.82 percent. This is a 14.31 percent decrease over sales of $135.14 million the same period last year.

Earnings

Earnings Misses

American Vanguard Q1 EPS $(0.30), Sales $115.80M Miss $127.00M Estimate

U.S. stock futures rose on Friday after closing lower on Thursday. Futures of major benchmark indices advanced in premarket.
This came after President Donald Trump hinted at a <a href="https://www.benzinga.com/news/politics/25/06/45807968/trump-signals-truce-with-elon-musk-after-online-feud-its-going-very-well-never-done-better">possible reconciliation</a> with Elon Musk following a public spat. In an interview with Politico <a href="https://www.politico.com/news/2025/06/05/trump-white-house-aides-signal-a-possible-detente-with-musk-00391502">on</a> Thursday, Trump was unfazed about the questions on his feud with Musk, stating, &#8220;Oh it&#8217;s okay.&#8221; 
"It's going very well, never done better,&#8221; he said as his aides have scheduled a call with Musk to potentially resolve the conflict.
The disagreement between the two influential figures stemmed from Trump&#8217;s &#8220;big beautiful bill,&#8221; a legislative proposal outlining his presidential agenda. Their exchanges grew increasingly bitter, leading aides and allies to step in. Ultimately, Musk indicated a willingness to reconcile.
The investors will be on the lookout for May&#8217;s U.S. employment report, slated to be released later today. The nonfarm payrolls are expected to rise by 130,000, down from April&#8217;s 170,000 gain.
The 10-year Treasury bond yielded 4.38% and the two-year bond was at 3.92%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 97.6% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.35%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.42%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.41%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.60%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket on Friday. The SPY was up 0.43% at $595.60, while the QQQ advanced 0.45% to $527.14, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From Last Session:
Communication services stocks on the S&amp;P 500 closed higher on Thursday, bucking the overall market trend as most sectors, particularly consumer discretionary, materials, and consumer staples, recorded losses.
U.S. stocks settled lower, with the S&amp;P 500 registering declines, notably impacted by a drop in Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares.
Individual corporate news also contributed to the market&#8217;s slide; Ciena Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIEN#NYSE">CIEN</a>) shares fell 13% after the company announced disappointing earnings for its fiscal second quarter.
Similarly, PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) shares tumbled 18% following a reduction in its fiscal year 2025 guidance and a second-quarter adjusted EPS forecast that both fell below analyst estimates.
On the economic data front, unit labor costs in the U.S. nonfarm business sector saw a 6.6% increase during the first quarter, while labor productivity in the same sector declined by 1.5%.
Conversely, the U.S. trade deficit narrowed to $61.6 billion in April, marking its lowest point since September 2023.
The Dow Jones index ended 108 points or 0.25% lower at 42,319.74, whereas the S&amp;P 500 index fell 0.53% to 5,939.30. Nasdaq Composite declined 0.83% to 19,298.45, and the small-cap gauge, Russell 2000, dropped 0.054% to end at 2,097.35.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.83%</td>
<td>19,298.45</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.53%</td>
<td>5,939.30</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.25%</td>
<td>42,319.74</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.054%</td>
<td>2,097.35</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
&#8220;Stock, bond, currency, and commodity traders have become jaded about Trump&#8217;s tumultuous trade dealmaking,&#8221; said Ed Yardeni in his daily note.
According to him, even the rising concerns about a shortage of Chinese rare earth minerals, which are needed by several U.S. manufacturers, haven&#8217;t fazed the stock market so far.
He said that &#8220;Investors seem to be more focused on whether the US economy is slowing or not.&#8221;
Yardeni stated that stock and bond prices would likely stay firm if today&#8217;s payroll employment report exceeds 100,000.
However, the report &#8220;isn&#8217;t likely to resolve the debate about the labor market,&#8221; he added, saying that he anticipates that it will be better than expected.&#8221;
Meanwhile, Louis Navellier said that he remains optimistic that the tariff confusion will dissipate in the upcoming months.
&#8220;I expect inflation will remain low due to (1) lower crude oil prices, (2) deflation from China, and (3) excess inventories from the dumping of goods in the first quarter,&#8221; he said.
He also added that resurging consumer confidence and rising personal income are a powerful &#8216;one-two&#8217; punch that will sustain strong economic growth. ﻿
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures</a> 
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on Friday:
<ul class="wp-block-list">
<li>May&#8217;s U.S. employment report, unemployment rate, and hourly wages data will be released by 8:30 a.m. ET.</li>
<li>April&#8217;s consumer credit data will be announced at 3:00 p.m. ET.</li>
</ul>
Stocks In Focus:
<ul class="wp-block-list">
<li>ABM Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABM#NYSE">ABM</a>) rose 1.97% in premarket on Friday as analysts expect it to report quarterly earnings of 86 cents per share on revenue of $2.06 billion, before the opening bell.</li>
<li>G-III Apparel Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIII#NASDAQ">GIII</a>) was up 0.43% ahead of its earnings, which are supposed to be released before the opening bell. Analysts expect earnings of 12 cents per share on revenue of $580.37 million.</li>
<li>Manchester United PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MANU#NYSE">MANU</a>) was 0.07% above the flatline as analysts expect it to report a quarterly loss of 33 cents per share on revenue of $202.47 million, before the opening bell.</li>
<li>Docusign Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOCU#NASDAQ">DOCU</a>) slumped 18.91% after reducing its billings guidance for the full year, despite reporting stronger-than-expected first-quarter results.</li>
<li>Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) crashed 21.39% as it lowered its full-year earnings forecast to $14.58 to $14.78 per share, down from prior guidance of $14.95 to $15.15 per share.</li>
<li>FuelCell Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) rose 2.12% ahead of its earnings, which are supposed to be released before the opening bell. Analysts expect a quarterly loss of $1.38 per share on revenue of $32.42 million.</li>
<li>Rent the Runway Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RENT#NASDAQ">RENT</a>) jumped 20.03% as it forecasted double-digit subscriber growth in 2025 during its earnings.</li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) was up 5.18% after a possibility of reconciliation with Trump following Thursday&#8217;s online feud. </li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading lower in the early New York session by 0.60% to hover around $62.99 per barrel.
Gold Spot US Dollar rose 0.13% to hover around $3,357.15 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was higher by 0.26% at the 98.9970 level.
Asian markets were mixed on Thursday as Japan's Nikkei 225, India's S&amp;P BSE Sensex, and South Korea's Kospi indices rose. Whereas, Australia's ASX 200, China&#8217;s CSI 300, and Hong Kong's Hang Seng indices fell. European markets were also mixed in early trade.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/market-summary/25/06/45809203/investors-pay-the-price-as-musk-trump-war-of-words-escalates-once-allies-now-foes-their-linked-stocks-crypto-and-funds-wipe-out-155-billion-in-a-single-day">Investors Pay The Price As Musk-Trump War Of Words Escalates: Once Allies, Now Foes, Their Linked Stocks, Crypto And Funds Wipe Out $155 Billion In A Single Day </a></li>
</ul>
Photo courtesy: godongphoto / Shutterstock.com

Equities

CIEN

DOCU

FCEL

GIII

MANU

RENT

US Stocks Likely To Open Higher: 'Traders Have Become Jaded About Trump's Tumultuous Trade Dealmaking,' Says Expert

As gold hovers around $3,500, Michael Gentile, the co-founder of Bastion Asset Management, believes large swathes of the sector have barely budged in recent weeks.
What Happened: On Thursday, appearing on Kitco News, Gentile said that the stocks of most junior miners, or small, early-stage mining companies, continue to trade as if prices were stuck at $1,500. 
This disconnect, Gentile says, represents one of the most overlooked opportunities in today's markets. He says the sector's smallest companies, those with sub-$100 million market caps, have been left behind despite historic highs in the spot price of the yellow metal.
&#8220;Normally, when gold hits new all-time highs, the juniors rally the hardest,&#8221; he says; however, this time around, &#8220;they're still trading at crisis-level valuations.&#8221;
See Also: <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>
While senior producers are &#8220;spewing cash right now, buying back stock, paying dividends [with] pristine balance sheets,&#8221; capital remains scarce for junior miners. 
Gentile, who serves on the board of several leading mining firms, believes the sector is still reeling from a post-COVID hangover, when inflation wiped out expected margin gains.
&#8220;In 2020, everyone was excited about margin expansion, but then inflation hit, and that got all eroded away,&#8221; he says. &#8220;Today, costs are much more under control. We're seeing record margins in both absolute and percentage terms.&#8221;
&#8220;Today, the majors are printing cash, that will eventually flow downstream,&#8221; he notes, predicting an M&amp;A wave and a re-rating of undervalued developers and explorers. Gentile believes there are already some signs of life, with generalist funds beginning to revisit the sector.
For risk-tolerant investors, he sees potential for &#8220;three, four, even 10 times your money&#8221; among select junior names. Still, he urges discipline, with a focus on tight cost controls, a well-aligned management team, and a clear path to profitable production.
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Stock / ETF</th>
<th class="has-text-align-center" data-align="center">YTD Performance</th>
</tr>
</thead>
<tbody>
<tr>
<td>New Found Gold Corp. (NYSEAMERICAN: NFGC)</td>
<td class="has-text-align-center" data-align="center">-22.80%</td>
</tr>
<tr>
<td>Capitan Silver Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CAPTF#OTC">CAPTF</a>)</td>
<td class="has-text-align-center" data-align="center">+141.09%</td>
</tr>
<tr>
<td>Artemis Gold Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ARGTF#OTC">ARGTF</a>)</td>
<td class="has-text-align-center" data-align="center">+93.29%</td>
</tr>
<tr>
<td>Osisko Metals Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/OMZNF#OTC">OMZNF</a>)</td>
<td class="has-text-align-center" data-align="center">+34.54%</td>
</tr>
<tr>
<td>VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>)</td>
<td class="has-text-align-center" data-align="center">+50.40%</td>
</tr>
<tr>
<td>SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>)</td>
<td class="has-text-align-center" data-align="center">+26.04%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Stocks mentioned by Gentile as having the potential to 3x, 4x, or even 10x from current levels.</figcaption></figure>
Why It Matters: Other analysts have echoed similar views on <a href="https://www.benzinga.com/markets/commodities/25/06/45754937/exclusive-golds-27-ytd-rally-is-supercharging-miners-but-theres-a-big-if">gold miner profitability</a>, with Oktay Kavrak of LeverageShares saying that &#8220;A gold rally can supercharge miner profits if costs are controlled. But that&#8217;s a big ‘if.'&#8221;
&nbsp;&#8220;If it costs $1,500 to produce an ounce and gold rises from $2,000 to $2,100, that&#8217;s a 20% boost in profits on just a 5% move in gold,&#8221; he says, but adds that the reverse is also true. 
Price Action: The spot price of Gold now trades at $3,366.42, up 0.37% for the day, 1.51% over the past 30 days, and an impressive 46.37% over the past 12 months.
<figure class="wp-block-image aligncenter size-large is-resized"><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="192" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06045152/Screenshot-2025-06-06-at-2.21.40-PM-1024x192.png" alt="" class="wp-image-940898" style="width:485px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06045152/Screenshot-2025-06-06-at-2.21.40-PM-1024x192.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06045152/Screenshot-2025-06-06-at-2.21.40-PM-300x56.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06045152/Screenshot-2025-06-06-at-2.21.40-PM-768x144.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06045152/Screenshot-2025-06-06-at-2.21.40-PM.png 1174w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
The SPDR Gold Trust scores high on Momentum according to Benzinga&#8217;s Edge Stock Rankings, and has a favorable price trend in the short, medium, and long terms. 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 ETF.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Gold Miners Printing Record Margins – Juniors Could 10x From Here &#x7C; Gentile" width="500" height="281" src="https://www.youtube.com/embed/LKr5UW-5Umw?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>
</div>
</figure>
Read More:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/06/45808926/robinhood-says-overnight-trading-spiked-after-trumps-tariff-surprise-retail-came-to-the-rescue">Robinhood Says Overnight Trading Spiked After Trump&#8217;s Tariff Surprise: &#8216;Retail Came To The Rescue&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

ARGTF

CAPTF

Market Vectors ETF Trust Market Vectors Gold Miners

NFGC

OMZNF

Gold's At $3,500, But These Miners Still Trade Like It's $1,500: Investor Sees 10x Upside In These Under-The-Radar Stocks

Ascendiant Capital analyst Edward Woo maintains Knightscope (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KSCP#NASDAQ">KSCP</a>) with a Buy and lowers the price target from $30 to $26.

KSCP

Ascendiant Capital Maintains Buy on Knightscope, Lowers Price Target to $26

Legal

TBPH

VTRS

Theravance, Mylan Reach Settlement With Eugia Over YUPELRI ANDA Patent Litigation

Small Cap Consumer Research analyst Eric Beder reiterates Lands' End (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LE#NASDAQ">LE</a>) with a Buy and maintains $20 price target.

Reiteration

Small Cap Consumer Research Reiterates Buy on Lands' End, Maintains $20 Price Target

CDRO

Codere Online Regains Nasdaq Compliance After 20-F Filing, Delisting Hearing Canceled

FOUR

Shift4 Extends All-Cash Tender Offer To Acquire Global Blue After 90% Threshold Met, Eyes Q3 2025 Deal Closure

Ascendiant Capital analyst Edward Woo maintains Genasys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNSS#NASDAQ">GNSS</a>) with a Buy and lowers the price target from $6 to $5.5.

GNSS

Ascendiant Capital Maintains Buy on Genasys, Lowers Price Target to $5.5

The shares of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) climbed 4.98% during the Friday pre-market trading session after indications of a possible reconciliation between CEO Elon Musk and President Donald Trump. 
What Happened: On Thursday, Tesla&#8217;s market cap plummeted by a record $152 billion, marking the company&#8217;s largest market cap loss in history. This decline was attributed to an intensified conflict between Musk and Trump over the latter&#8217;s &#8220;Big Beautiful Bill.&#8221;
In a subsequent interview with&nbsp;Politico, Trump <a href="https://www.benzinga.com/news/politics/25/06/45807968/trump-signals-truce-with-elon-musk-after-online-feud-its-going-very-well-never-done-better">hinted </a>at a potential reconciliation with Musk, and the White House reportedly initiated efforts to de-escalate the situation. 
Meanwhile, Dan Ives, a prominent Wall Street analyst, believes that the ongoing feud between Musk and Trump will soon come to an end, allowing Musk to refocus on Tesla and its autonomous driving ambitions. Through a post on X, he also suggested that Tesla&#8217;s stock is currently oversold.
<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">We believe this fight in the sandbox between Musk and Trump will be resolved soon and this feud can end and Musk can focus back on Tesla and autonomous. Musk needs a friend in the White House and we believe Musk/Trump will makeup and be friends again. Tesla way oversold here &#x1f91d;&#x1f37f;
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1930911687420399691?ref_src=twsrc%5Etfw">June 6, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
SEE ALSO:&nbsp;<a href="https://benzinga.com/news/politics/25/06/45808431/xi-has-bowed-to-reality-says-china-analyst-urges-more-engagement-between-leaders-to-resolve-trade-i" target="_blank" rel="noreferrer noopener">Xi Has &#8216;Bowed To Reality,&#8217; Says China Analyst, Urges More Engagement Between Leaders To Resolve Trade Issues: &#8216;No Substitute For Direct Negotiations With Trump&#8217;</a>
Why It Matters: The feud has not only affected Tesla&#8217;s stock but also sparked a public outcry for <a href="https://www.benzinga.com/news/politics/25/06/45808535/bill-ackman-and-ye-call-for-trump-musk-reconciliation-after-public-fallout-over-tax-bill">reconciliation</a>. Notable figures such as billionaire hedge fund manager Bill Ackman and rapper Ye have called for a resolution between the two influential figures. Elon Musk also seemed to embrace the idea of making peace with the President by responding to Ackman, saying, &#8220;You are not wrong.&#8221;
This development, coupled with Ives&#8217; optimistic outlook, could signal a potential recovery for Tesla&#8217;s stock in the near future.
Meanwhile, Goldman Sachs lowered its price target on Tesla on Friday from $295 to $285 while reiterating a &#8216;Neutral&#8217; rating, reported Investing.com. The analysts based their revised outlook on weaker monthly data from major regions such as the United States, Europe, and China. Goldman Sachs now projects Tesla's second-quarter deliveries to fall between 335,000 and 395,000 vehicles, depending on June&#8217;s results and how aggressively Tesla employs incentives.
Benzinga Edge Stock Rankings shows that Tesla had a strong price trend over the short, medium and long term. Its momentum ranking was moderate at the 92nd percentile, whereas its value ranking was poor at the 9th percentile; the details of other metrics are available <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">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/2025/06/06055014/Screenshot-2025-06-06-at-3.20.08%E2%80%AFPM.png" alt="" class="wp-image-940978" /></a></figure>
<ul class="wp-block-list">
<li>SEE MORE:&nbsp;<a href="https://benzinga.com/markets/tech/25/06/45784639/jeff-bezos-let-customers-cancel-their-own-amazon-orders-and-it-paid-off-big-if-you-give-people-more-" target="_blank" rel="noreferrer noopener">Jeff Bezos Let Customers Cancel Their Own Amazon Orders And It Paid Off Big: &#8216;If You Give People More Control&#8230;Maybe They&#8217;ll Order More&#8217;</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.

Tesla Stock Climbs Nearly 5% In Friday Pre-Market: What's Going On?

Former Treasury Secretary Lawrence Summers has sharply criticized the tax bill by the President Donald Trump administration amid the ongoing feud with Elon Musk.
What Happened: Describing the &#8220;Big Beautiful Bill&#8221; as a &#8220;prescription for deadly, dangerous decline,&#8221; Larry Summers listed three key reasons for the climbing U.S. debt burden in an X post.
According to him, the government has not introduced any big spending programs lately that could contribute to the debt.
&#8220;It's not that we've launched all kinds of big new spending programs,&#8221; he said in the post. The reasons for the mounting debt, according to Summers, include;
<ul class="wp-block-list">
<li>An increase in the population aged over 65 years, which allows them to draw entitlement benefits.</li>
<li>An increase in the costs of things the government pays for, including health care.</li>
<li>Lastly, the interest payments the Treasury is making.</li>
</ul>
<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">The U.S. debt burden has climbed for three reasons. First is the increase in the population aged over 65, which allows them to draw entitlement benefits. Second is the increase in the costs of things the government pays for, including health care. Third is the interest payments…
&mdash; Lawrence H. Summers (@LHSummers) <a href="https://twitter.com/LHSummers/status/1930806976914620762?ref_src=twsrc%5Etfw">June 6, 2025</a></blockquote>
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In a following post, Summers highlighted that the &#8216;Big Beautiful Bill&#8221; takes on debt on a massive scale that the U.S. &#8220;can't afford.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The big, beautiful bill is a prescription for deadly, dangerous decline. It takes on debt on a massive scale that we can't afford.<a href="https://t.co/01l7oRcTr3">https://t.co/01l7oRcTr3</a>
&mdash; Lawrence H. Summers (@LHSummers) <a href="https://twitter.com/LHSummers/status/1930806303066067353?ref_src=twsrc%5Etfw">June 6, 2025</a></blockquote>
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See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/25/06/45764818/bill-ackman-urges-end-to-fannie-mae-freddie-mac-conservatorship-says-will-enable-them-to-operate-more-successfully-and-efficiently" target="_blank" rel="noreferrer noopener">Bill Ackman Urges End To Fannie Mae, Freddie Mac Conservatorship: Says Will Enable Them To ‘Operate More Successfully And Efficiently'</a>
Why It Matters: The Congressional Budget Office has estimated that tax changes from the &#8220;Big Beautiful Bill&#8221;, including extending provisions of the 2017 tax act, would lead to an <a href="https://www.benzinga.com/markets/equities/25/05/45536595/big-beautiful-bill-will-explode-the-deficit-and-make-the-rich-richer-congressional-budget-office-estimates-4-income-fall-for-lowest-decile-of-americans-by-2033">increase in the federal deficit by $3.8 trillion</a>. 
The document also stated, "Household resources would decrease by an amount equal to about 2 percent of income in the lowest decile (tenth) of the income distribution in 2027 and 4 percent in 2033, mainly as a result of losses of in-kind transfers, such as Medicaid and SNAP."
On the other hand, resources would increase by an amount equal to 4% for households in the highest decile in 2027 and 2% in 2033, mainly because of "reductions in the taxes they owe."
Meanwhile, it also underscored a $698 billion reduction in federal subsidies from changes to the Medicaid program and $267 billion less in federal spending for the Supplemental Nutrition Assistance Program (SNAP).
Musk also called the bill a &#8220;<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; earlier this week, which followed a very public spat on social media between President Trump and Musk on Thursday. 
Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket on Friday. The SPY was up 0.34% at $595.05, while the QQQ advanced 0.29% to $526.30, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
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<li><a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45790628/elon-musk-mike-lee-back-warren-buffetts-5-minute-fix-for-us-deficit-crisis-all-the-sitting-members-of-congress-are-ineligible-for-re-election-if-this-happens">Elon Musk, Mike Lee Back Warren Buffett's ‘5-Minute' Fix For US Deficit Crisis: ‘All The Sitting Members Of Congress Are Ineligible For Re-Election' If This Happens</a></li>
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Photo courtesy: Rawpixel.com / Shutterstock.com

Larry Summers Identifies 3 Key Reasons For Rising US Debt, But Doesn't Think Trump's 'Big Beautiful Bill' Is The Medicine The Country Needs

The ongoing public dispute between the CEO of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Elon Musk, and President Donald Trump has caused a stir in the financial markets, wiping nearly $155 billion of investor wealth in a single day.
What Happened: The Musk-Trump dynamic took a sharp turn after the former began criticizing the government&#8217;s new tax bill, terming it a &#8220;spending bill&#8221; and calling it a &#8220;<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; earlier this week.
This comes after Musk&#8217;s late May <a href="https://www.benzinga.com/25/05/45661836/tesla-stock-gains-215-after-hours-as-elon-musk-ends-doge-government-role">exit from the Department of Government Efficiency</a>, or DOGE, which was directed to reducing the &#8220;wasteful spending&#8221; by the administration. &#8211;
On Thursday, Musk and Trump engaged in a <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">very public spat</a> on social media, and both were seen allaying accusations against each other.
These developments dragged the stocks linked to their businesses lower in trade. While Tesla&#8217;s market capitalization dropped from $1,069 billion to $916.7 billion, the firm erased <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">$152.3 billion</a> of investor wealth.
Similarly, the market cap of Destiny Tech100 Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXYZ#NYSE">DXYZ</a>) fund, which owns 34.6% of Musk&#8217;s SpaceX, tumbled from $466 million to $408 million, destroying $58 million of the wealth.
On the other hand, Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) wiped $490 million of the investor wealth, which is held by the <a href="https://www.benzinga.com/markets/equities/24/12/42609228/trump-transfers-entire-djt-stake-to-revocable-trust-ahead-of-inauguration">Donald J. Trump Revocable Trust</a>, with Trump being the sole beneficiary of the trust. 
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Stocks</td>
<td>M-Cap On Wed, June 4</td>
<td>M-Cap On Thurs, June 5</td>
<td>Change</td>
</tr>
<tr>
<td>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td>
<td>$1069 billion</td>
<td>$916.7 billion</td>
<td>$152.3 billion</td>
</tr>
<tr>
<td>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>)</td>
<td>$6.05 billion</td>
<td>$5.56 billion</td>
<td>$0.49 billion</td>
</tr>
<tr>
<td>Destiny Tech100 Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXYZ#NYSE">DXYZ</a>)</td>
<td>$0.466 billion</td>
<td>$0.408 billion</td>
<td>$0.058 billion</td>
</tr>
</tbody>
</table>
</figure>
Meanwhile, the cryptocurrencies linked to both Musk and Trump also tumbled.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Cryptocurrencies</td>
<td>M-Cap On Wed, June 4</td>
<td>M-Cap On Thurs, June 5</td>
<td>Change</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>$28.61 billion</td>
<td>$26.90 billion</td>
<td>$1.71 billion</td>
</tr>
<tr>
<td>Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>)</td>
<td>$2.196 billion</td>
<td>$2.023 billion</td>
<td>$0.173 billion</td>
</tr>
</tbody>
</table>
</figure>
Cumulatively, the three securities erased $154.731 billion in investor wealth in just a single day.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/25/06/45764818/bill-ackman-urges-end-to-fannie-mae-freddie-mac-conservatorship-says-will-enable-them-to-operate-more-successfully-and-efficiently" target="_blank" rel="noreferrer noopener">Bill Ackman Urges End To Fannie Mae, Freddie Mac Conservatorship: Says Will Enable Them To ‘Operate More Successfully And Efficiently'</a>
Why It Matters: Despite the apparent tension, Trump seemed unfazed, in an interview <a href="https://www.politico.com/news/2025/06/05/trump-white-house-aides-signal-a-possible-detente-with-musk-00391502">with</a> Politico on Thursday, stating, &#8220;Oh, it&#8217;s okay.&#8221; 
"It's going very well, never done better." He also mentioned his high favorability ratings, indicating a <a href="https://www.benzinga.com/news/politics/25/06/45807968/trump-signals-truce-with-elon-musk-after-online-feud-its-going-very-well-never-done-better">possible shift in his stance</a> towards Musk. 
President's aides have even scheduled a call with Musk to potentially resolve the conflict.
However, the shares of these companies witnessed a sharp drop on Thursday.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Stocks</td>
<td>Thursday Close</td>
<td>YTD Performance</td>
</tr>
<tr>
<td>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td>
<td>-14.26%</td>
<td>-24.94%</td>
</tr>
<tr>
<td>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>)</td>
<td>-8.04%</td>
<td>-40.86%</td>
</tr>
<tr>
<td>Destiny Tech100 Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXYZ#NYSE">DXYZ</a>)</td>
<td>-12.42%</td>
<td>-34.39%</td>
</tr>
</tbody>
</table>
</figure>
Benzinga Edge Stock Rankings show that Tesla had a weaker price trend over the short and medium terms but a strong trend over the long term. Its momentum ranking was solid, and its value ranking was poor at the 9.28th percentile. The details of other metrics are<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> available here</a>.
<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="152" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06034621/TSLA-EDGE-NEW-NEW-1024x152.png" alt="" class="wp-image-940810" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06034621/TSLA-EDGE-NEW-NEW-1024x152.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06034621/TSLA-EDGE-NEW-NEW-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06034621/TSLA-EDGE-NEW-NEW-768x114.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06034621/TSLA-EDGE-NEW-NEW.png 1155w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Benzinga Edge Stock Rankings show that DJT had a weaker price trend over the short, medium, and long term. Its momentum ranking was poor, and its value ranking was also poor at the 0.94th percentile. The details of other metrics are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here.</a> 
<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="150" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06034600/DJT-edge-new-new-1024x150.png" alt="" class="wp-image-940809" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06034600/DJT-edge-new-new-1024x150.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06034600/DJT-edge-new-new-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06034600/DJT-edge-new-new-768x112.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06034600/DJT-edge-new-new.png 1156w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Benzinga Edge Stock Rankings show that DXYZ had a weaker price trend over the medium term but a strong trend over the short and long term. Its momentum ranking was solid at the 97.03th percentile. The details of other metrics are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here.</a>
<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/2025/06/06034516/DXYZ-Edge-1024x147.png" alt="" class="wp-image-940807" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06034516/DXYZ-Edge-1024x147.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06034516/DXYZ-Edge-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06034516/DXYZ-Edge-768x110.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06034516/DXYZ-Edge.png 1177w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45790628/elon-musk-mike-lee-back-warren-buffetts-5-minute-fix-for-us-deficit-crisis-all-the-sitting-members-of-congress-are-ineligible-for-re-election-if-this-happens">Elon Musk, Mike Lee Back Warren Buffett&#8217;s &#8216;5-Minute&#8217; Fix For US Deficit Crisis: &#8216;All The Sitting Members Of Congress Are Ineligible For Re-Election&#8217; If This Happens </a></li>
</ul>
Photo courtesy: Joey Sussman / Shutterstock.com

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