Stock Movers: Tesla, United, Intuitive Machines
- Tesla retail fans pushed shares as much as 12% higher today during trading. The company has long had an ardent fan base of individual investors who hang on Elon Musk's every word on X, the social-media platform he owns. They analyze Tesla in great detail in online forums and largely function as a hype crew for the stock. - United Airlines will begin charging customers more to access its airport lounges to help combat a rise in overcrowding since the pandemic. Individual United Club memberships will now cost $750 or 94,000 reward miles a year for MileagePlus loyalty program members, the company said in a message to customers on Monday. The company is also adding a new 'All Access' membership tier priced at $1,400 or 175,000 miles that extends lounge access to certain guests traveling with a member. - Space exploration company Intuitive Machines shares were up as much as 23%, the most intraday in two months, after management said its 4Q backlog has increased 22% year-over-year, marking the highest quarter-ending backlog in company history. During the earnings call, management said they see opportunity in the change of US administrations and the ensuing efforts to revamp government, including NASA.
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Yahoo
34 minutes ago
- Yahoo
Elon Musk controversy creates new problem for Tesla stock
Elon Musk controversy creates new problem for Tesla stock originally appeared on TheStreet. Last week, a social media post from Elon Musk caused many people to stop what they were doing and look down at their phones. Even for the Tesla () CEO, known for his controversial and bold opinions, what they saw seemed surprising. Musk had previously announced plans to cease his political spending. But only a few days later, he accused Trump of having direct ties to notorious criminal Jeffrey Epstein and alleged that without his help, the Republican president would not have won last year's election. 💵💰💰💵 Since then, Tesla has been in the spotlight, as the dispute between two of the world's most powerful men continues. While TSLA stock initially plunged on news of the argument, it has since regained some of its momentum. Even as shares slowly trend upward, though, experts speculate that short sellers may regard the Musk-Trump fallout as an opportunity to bet against the stock. Over the past few months, Musk's behavior has sparked a global backlash against Tesla's brand, causing sales to fall across the U.S. and Europe. This clear indication of consumer sentiment toward him has caused some financial experts, including Tesla shareholder and fund manager Ross Gerber, to call for him to step Musk announced that he would be stepping back from his role with the Department of Government Efficiency (DOGE), TSLA stock surged, and some investors speculated that the company's troubles were over. But now his falling out with Trump has generated further uncertainty. When a prominent company starts showing signs of weakness or instability, short sellers are likely to start closing in. So far, Tesla's recent declines have been highly profitable for those willing to bet against it. The Wall Street Journal reports that as TSLA stock plunged last week, short sellers pocketed up to $4 billion, noting: 'Investors have made $7 billion betting against Tesla year-to-date, a roughly 30% return. Elon Musk's company is currently the second most shorted stock in the U.S. by total value of the position, with around $27.7 billion of shares sold short, according to S3.' Betting against an industry-leading company like Tesla will always carry some risk, regardless of how bleak its prospects may appear. But experts see a case for shorting TSLA stock, provided investors understand its volatile nature, which includes surging unexpectedly. 'I think Musk dragged Tesla into a political spectacle,' Galileo FX CEO David Materazzi tells TheStreet. 'That creates perceived instability. Short sellers don't need real damage, just the illusion of it. Volatility invites them in. When the CEO becomes the story, the stock turns into a target.' Financial education platform First Information's CEO Vince Stanzione holds a short position in TSLA. He says his reasons are 'business not personal,' however, citing the company's high valuation and questionable market share over the feud between Musk and Trump. More Tesla News: The 'anti-Tesla' gives American buyers more good news Analyst sets eye-popping Tesla stock price target Elon Musk's feud with Trump is hurting an unexpected investment 'The P/E ratio is over 100 and growth the last few years has been near zero,' he says of Tesla. 'The bulls will say you're paying for the future and Elon Musk's brilliance, and I am not disputing that Tesla could have some future hits in the pipeline, but Elon Must is very good at promising 'jam tomorrow' which never seems to materialize, or if and when it does, it's not the flavour he promised.' Stanzione also raises a concern regarding Tesla's foray into robotics, something on which Musk has hinged a lot of the company's prospects. This part of Tesla's business just became more complicated due to the abrupt departure of one of its leaders.'Unless robotaxis start showing up en masse by the end of this year, then investors will keep selling,' states Stanzione. 'I am very bullish on robotics. It's something I have been investing in for over a decade, especially in medical and military uses, however, Tesla is not the only game in town.' He names rivals such as Hyundai Motor Group and Boston Dynamics, both of which are making notable advances in the robotics field that could threaten Tesla's progress. Chief Analyst Dan Buckley also highlights the potential valuation problem, stating 'Tesla short sellers may see their edge in the long-term mismatch between its ~$1 trillion valuation and the current reality of its business – i.e., nearly all auto-based revenue – and the uncertain viability of its highly speculative emerging tech bets.' That said, Buckley advises investors considering a Tesla short to 'treat political feuds as a volatility amplifier rather than a directional signal' and highlights the importance of caution when betting against such an unpredictable Musk controversy creates new problem for Tesla stock first appeared on TheStreet on Jun 10, 2025 This story was originally reported by TheStreet on Jun 10, 2025, where it first appeared.
Forbes
42 minutes ago
- Forbes
U.S. Treasury Secretary Issues Huge $2 Trillion Crypto Prediction As Bitcoin Price Suddenly Soars
Bitcoin has rocketed higher over the last month, helped by fears stoked by Tesla billionaire Elon Musk that the U.S. dollar could be teetering on the verge of collapse. Front-run Donald Trump, the White House and Wall Street by subscribing now to Forbes' CryptoAsset & Blockchain Advisor where you can "uncover blockchain blockbusters poised for 1,000% plus gains!" The bitcoin price has come within striking distance of its all-time high of $112,000 per bitcoin, suddenly soaring 50% from its April low as the market braces for a Federal Reserve game-changer. Now, as a $37 trillion "ticking time bomb" could be about to blow up the bitcoin price, U.S. Treasury secretary Scott Bessent has issued a huge crypto market prediction. Sign up now for the free CryptoCodex—A daily five-minute newsletter for traders, investors and the crypto-curious that will get you up to date and keep you ahead of the bitcoin and crypto market bull run U.S. Treasury secretary Scott Bessent has predicted the stablecoin market could exceed $2 ... More trillion—thing some think could boost the bitcoin price. Dollar-pegged stablecoins, currently dominated by Tether's USDT and Circle's USDC, could 10x to become a $2 trillion market in just three years, according to U.S. Treasury secretary Scott Bessent, who said he believed it could even "greatly exceed that." Stablecoins—cryptocurrencies that are price-pegged to assets such as the U.S. dollar—have exploded in popularity in recent years as a way to move money around the world, however, the market remains unregulated even as stablecoin issuers like Tether and Circle see their valuations and profits surge. "I believe that stablecoin legislation backed by U.S. treasuries or T-bills will create a market that will expand U.S. dollar usage via these stablecoins all around the world," said Bessent, speaking during a House ways and means committee hearing. "I think that $2 trillion is a very reasonable number." Bessent's prediction echos a report from analysts with Standard Chartered Bank who earlier this year predicted U.S. stablecoin legislation would boost the market to around $2 trillion, up from just over $200 billion currently. 'U.S. legislation on stablecoins … would further legitimize the stablecoin industry,' Geoff Kendrick, Standard Chartered's global head of digital assets research, wrote in an emailed note. 'This has implications for both U.S. Treasury buying (for reserve purposes) and U.S. dollar hegemony.' Bessent's comments come as pressure on the U.S. dollar as the world's reserve currency is mounting due to the U.S. debt pile that's on track to top $40 trillion in the next decade. Last week, Tesla billionaire Elon Musk shared a warning from Coinbase chief executive Brian Armstrong that the spiraling U.S. debt pile could lead to the U.S. dollar losing its reserve currency position to bitcoin. "In the history of the U.S. dollar as a reserve currency there have been numerous passages along the way where many people assumed that the U.S. dollar would lose reserve currency status and there's always been a new mechanism that has cemented that," Bessent said, echoing similar comments made by U.S. president Donald Trump and his administration that the dollar's position will be strengthened by the adoption of dollar-pegged stablecoins. This week, the U.S. Senate voted 68 to 30 to move forward the so-called Genius Act that would regulate stablecoins, setting the bill up for a final vote that could happen as soon as Monday. 'The version of the Genius Act that we will invoke cloture on today reflects months of hard work and negotiations from members on both sides of the aisle,' Republican majority leader John Thune said in comments reported by Politico, adding, "it's time to move forward and pass this legislation." The bill's advancement has been named as a 'tailwind' for the bitcoin price and wider crypto market. 'The Senate's recent approval of the Genius Act mandating 1:1 stablecoin reserves and offering regulatory clarity, stands as a significant tailwind," Joel Kruger, market strategist at LMax Group, said in emailed comments. Sign up now for CryptoCodex—A free, daily newsletter for the crypto-curious The bitcoin price has rocketed higher over the last year, helped by expectations the U.S. will pass ... More stablecoin legislation this year. Meanwhile, Wall Street banks are gearing up to enter the stablecoin market, expected to give legitimacy to the wider bitcoin and crypto ecosystem. Bank of America chief executive Brian Moynihan has said the passage of stablecoin regulation will allow the bank to enter the stablecoin market. "We're working with the industry, working individually. We have this pretty well understood … but the problem before was it wasn't clear we were allowed to do it under the banking regulations, and there was a lot of mystery about that,' Moynihan said at a Morgan Stanley conference in New York, it was reported by Yahoo Finance. 'Even the large banks are becoming crypto natives,' Mateusz Kara, Ari10 chief executive, said in emailed comments. "Like water and gravity, there is an inevitability to the rise of crypto.'
Yahoo
an hour ago
- Yahoo
Tesla (TSLA) to Launch Robotaxis in Austin Amid Regulatory, Safety Questions
Tesla (TSLA, Financials) is set to launch its first fleet of robotaxis in Austin, Texas, this month as CEO Elon Musk shifts focus from mass-market electric vehicle production to autonomous ride-hailing technology. The rollout, involving 10 to 20 Model Y vehicles, is slated to begin tentatively on June 22, according to Musk. The announcement follows years of missed deadlines and unfulfilled self-driving promises. Tesla's Austin launch comes amid lagging EV sales and mounting investor reliance on future tech bets like robotaxis and humanoid robots to justify the company's market cap. Tesla has released few specifics on the program, saying the vehicles will use a new version of its software but remain unmodified. There's no public information yet on ride pricing, passenger eligibility, or geographic coverage beyond Musk's comment that the robotaxis will be limited to safest parts of Austin and monitored remotely. Texas does not currently require permits or oversight for autonomous vehicle launches. While a new statewide bill introducing authorization requirements has passed, it won't take effect until 2026. The National Highway Traffic Safety Administration has asked Tesla to provide detailed information on the Austin rollout, including safety features, accident protocols, and operational plans. The request follows a fatal crash linked to Tesla's Full Self-Driving software, which is still under investigation. Austin police say autonomous vehicles from competitors like Waymo and the now-suspended Cruise have struggled in dynamic environments, such as festivals and manually directed traffic zones. Tesla's system is expected to rely on remote teleoperators to step in when needed. Experts remain skeptical. Having 10 cars on the road and not having a crash is sort of table stakes for this game, said Carnegie Mellon University's Phil Koopman, a specialist in autonomous vehicle safety. Tesla did not comment on how many passengers will participate in the early phase or whether the company will charge for rides. This article first appeared on GuruFocus.
