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  • 6/6/2025
Tesla shares fell 14.3% on Thursday, wiping out $152 billion in market value, following an escalating feud between CEO Elon Musk and President Donald Trump. According to Benzinga, it was the most significant single-day market cap loss in the company’s history. Musk criticized Trump's new spending bill, warning it would drive the U.S. deeper into debt and lead to bankruptcy. Trump criticized Musk on Truth Social, defending the spending bill as one of the greatest ever presented to Congress. Trump suggested cutting government subsidies and contracts with Musk as a potential cost-saving measure. Musk fired back, calling Trump’s EV mandate claims false and hinting at retiring the Dragon spacecraft in protest. Musk proposed forming a new political party representing the "80% in the middle," with 82% of over 1.1 million poll respondents supporting the idea. Tesla stock is down 24.9% year-to-date in 2025.

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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Tesla shares fell 14.3% on Thursday,
00:05waiving out $152 billion in market value,
00:07following an escalating feud between CEO Elon Musk and President Donald Trump.
00:11According to Benzinga, it was the largest single-day market cap loss in the company's history.
00:16Musk criticized Trump's new spending bill,
00:18warning it would drive the U.S. deeper into debt and lead to bankruptcy.
00:21Trump criticized Musk on True Social,
00:23defending the spending bill as one of the greatest ever presented to Congress.
00:26Trump suggested cutting government subsidies and contracts
00:29with Musk as a potential cost-saving measure.
00:31Musk fired back, calling Trump's ED mandate claims false,
00:35hitting at retiring the Dragon spacecraft in protest.
00:38Musk proposed forming a new political party,
00:40representing the 80% in the middle,
00:42with 82% of over 1.1 million poll respondents supporting the idea.
00:46Tesla stock is down 24.9% year-to-date in 2025.
00:50For all things money, visit Benzinga.com slash GSTV.

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