Latest news with #TrumpMediaandTechnologyGroupCorp
Yahoo
7 days ago
- Automotive
- Yahoo
Trump, Musk feud escalates over tax bill; Tesla, DJT shares tumble
NEW YORK (Reuters) -President Donald Trump lashed out on Thursday against Elon Musk, saying he was "disappointed" by the billionaire's public opposition to the sweeping tax-cut and spending bill that is at the heart of Trump's agenda. The president also asserted that Musk's days of blistering attacks on the bill were motivated by the proposed elimination of consumer tax credits for electric vehicles. Musk, the CEO of electric vehicle maker Tesla, has said he opposes the bill because it will increase federal deficits. Trump further suggested he may terminate U.S. government contracts and subsidies given to Elon Musk's companies. Tesla plunged nearly 12% at $292.58, while Trump Media and Technology Group Corp dropped 4.1% to $20.98. COMMENTS: BOB DOLL, CHIEF EXECUTIVE OFFICER AND CHIEF INVESTMENT OFFICER, CROSSMARK, PRINCETON, NEW JERSEY: "It's not very helpful, because Elon Musk has a big mouth, a lot of influence. Yeah, he's going to embolden some of the Republican representatives that voted yes the first time to question it." JUAN PEREZ, DIRECTOR OF TRADING, MONEX USA, WASHINGTON: "Where there is friction there can also be volatility. Musk and Trump both represent a rethink about global power dynamics with big companies catching up to what it can mean for less regulation accompanied with less oversight. Trump and Musk seem to agree on being very supply-driven in their actions, but as Musk has gotten a taste of government powerholding and delegating, his opinions may only get stronger and prove an affront to White House goals." "It seems now that the two parties clash when it comes to defining 'efficiency' and ultimately the EV-world that Musk has so much influence over is not being treated with soft gloves by a Congress that seems concentrated on items that may not appeal to big business as much as they anticipated. Stock enthusiasm in general domestically has gone down, but we shall see if Musk is able to have an influence as a guiding hand or play a role in countering the narrative that the U.S budget and mentality on spending does have to be so fundamentally changed." MARK SPIEGEL, PORTFOLIO MANAGER, STANPHYL CAPITAL, NEW YORK: "I think the fallout for Tesla stock is self-evident! It's down over 9% on the day, and down significantly in the previous several days as it became obvious that the relationship was fraying. Tesla will be lucky to earn $1/share this year and is thus fundamentally worth no more than around $10/share versus the current $300. Live by the 'meme vibe,' die by the 'meme vibe'!" "I see no meaningful fallout from this for the rest of the market, other than its slight effect on the indexes and index funds. The overall stock market has plenty of problems, but Tesla isn't one of them." BILL STRAZZULLO, CHIEF MARKET STRATEGIST, BELL CURVE TRADING, BOSTON: "People are saying Elon Musk is just trying to stand up for the American people and stuff like that. No! He's trying to stand up for himself. You know there's parts of this tax bill that don't go over well with him like the elimination of the tax credits for the electronic vehicles and things like that. That to me is a big part of the reason why there's a rift not because he's trying to stand up for the American I also think there's a big embarrassment with DOGE. There are some reports out there that DOGE will probably cost more than money than saved. So that's a big black eye for Musk and the rift is probably some sort of cover for that as well." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Market Online
01-05-2025
- Business
- The Market Online
Buzz on the Bullboards: The 100-day checkup
This week, Canada witnessed a significant political shift as the Liberal Party made a Holyfield-esque comeback in the parliamentary elections, securing 168 seats. Although they fell short of the 172 seats needed for an outright majority, the victory marks a notable achievement for the party and its leader, Mark Carney. Carney, who is the first to lead two G7 central banks, is expected to quickly gain international credibility due to his extensive experience, according to experts. What the 'Buzz' Our Bullboards have up to 2 million pageviews a day. Get the inside scoop on conversations around the most significant trends and stock appreciations in our weekly wrap up. Get 'Buzz on the Bullboards' delivered to your inbox every Thursday! Buzz on the Bullboards | Sign Up Here Carney has pledged a firm stance against Washington's import tariffs and emphasized that Canada would need to invest billions to reduce its dependence on the U.S. This comes at a crucial time as data revealed that the Canadian economy contracted throughout Q1 2025, coinciding with U.S. President Donald Trump's first 100 days of his second term in office. Trump Media and Technology Group Corp. (NASDAQ:DJT, Forum) has been making headlines for its poor performance, with its stock plummeting 28.04 per cent since the beginning of the year. This week, the company published a letter to shareholders, not explaining its poor performance, but rather defending its products and criticizing the 'legacy media's customary blizzard of fake news, undisguised propaganda, and manufactured hysteria about both our company and President Trump.' The letter also talked about how Trump warned that Americans can expect to find store shelves empty sooner than later. Just kidding, it obviously didn't. The U.S. imposed, then delayed, a 10 per cent tariff on Canadian energy imports in February 2025, targeting crude oil and natural gas. Despite these challenges, Canadian energy stock Whitecap Resources Inc. (TSX:WCP, Forum) reported strong operating and unaudited financial results for the three months ended March 31, 2025. Whitecap's production averaged 179,051 boe/d, including 115,932 bbl/d of total liquids and 378,715 mcf/d of natural gas. This production was over 6,000 boe/d higher than their internal forecast due to strong production from new wells and better-than-expected base production. Key highlights from Whitecap's first quarter include: Production growth : Production increased by 6 per cent compared to Q1 2024, with stronger-than-expected volumes from both unconventional and conventional assets. : Production increased by 6 per cent compared to Q1 2024, with stronger-than-expected volumes from both unconventional and conventional assets. Funds flow : First quarter funds flow of $446 million ($0.75 per share) was 17% higher on a per share basis than Q1 2024 and 7% higher than Q4 2024. Free funds flow totaled $48 million after capital investments of $398 million. : First quarter funds flow of $446 million ($0.75 per share) was 17% higher on a per share basis than Q1 2024 and 7% higher than Q4 2024. Free funds flow totaled $48 million after capital investments of $398 million. Return of capital : $107 million ($0.1824 per share) was returned to shareholders in base dividends, with an annual base dividend of $0.73 per share. : $107 million ($0.1824 per share) was returned to shareholders in base dividends, with an annual base dividend of $0.73 per share. Balance sheet: Net debt of $987 million at the end of Q1 equates to a net debt to annualized funds flow ratio of 0.6 times, with significant available liquidity on their credit facility. Another industry in focus is healthcare, which PM Carney pledged to protect in the face of the Trump Administration, saying we have relied on health cards, not credit cards, for our healthcare. Theralase Technologies (TSXV:TLT, Forum), a healthcare stock focused on treating select cancers, bacteria, and viruses, recently discovered that its lead drug candidate, Ruvidar, has the potential to inhibit deubiquitinating enzymes (DUBs), which are linked to certain cancers and neurodegenerative diseases. Ruvidar has been shown to induce oxidative stress in cancer cells through the production of Reactive Oxygen Species, facilitating their destruction without affecting healthy cells. The drug, alone and/or in combination with Transferrin to produce the compound Rutherrin, has delivered promising results against bladder cancer, lung cancer, and various viruses, including recent breakthroughs in the treatment of herpes. According to this week's news release, DUBs cause cellular damage by removing ubiquitin or ubiquitin-like molecules from target proteins, which play an essential role in regulating gene expression, DNA repair, cytokine signaling, cell metabolism, cell cycle, and cell death. Theralase's study aims to build upon recent evidence that the alteration of DUBs is a key cause behind cancer drug resistance. Keep an eye on this stock and you can find out more on the latest episode of Stockhouse's newest podcast, 'The Five-Minute Investor', which will feature more on Theralase on the next episode. Stay tuned! After reading this, investors ought to deepen their due diligence into these news-making stocks to ensure their portfolios are up to date. The political and economic landscape is rapidly evolving, and staying informed about key developments can provide valuable insights for making strategic investment decisions. For previous editions of Buzz on the Bullboards, click here. Join the discussion: Find out what everybody's saying about these stock on Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here. (Top image via Global News on Twitter / X.)
Bloomberg
29-01-2025
- Business
- Bloomberg
Trump Media Launches Fintech Brand Truth.Fi for Crypto, ETFs
Trump Media and Technology Group Corp. launched a financial-services and fintech brand dubbed with a focus on crypto and customized exchange-traded funds. The new offering will develop separately managed accounts, ETFs and Bitcoin in partnership with Charles Schwab Corp., which will 'broadly advise' on investments and strategy, Trump Media said in a statement Wednesday.
