Zinger Key Points
- Cuban's succinct reaction to the Musk-Trump clash hints at a dramatic corporate showdown.
- Musk's critique of Trump's policy decisions and personal allegations stir market turbulence.
- Get the Strategy to Trade Pre-Fed Setups and Post-Fed Swings—Live With Chris Capre on Wednesday, June 11.
The escalating public feud between Elon Musk and President Donald Trump has prompted a response from billionaire investor Mark Cuban.
What Happened: Cuban’s comment came during a brief exchange with TheStreet Roundtable on Friday. When asked about the Musk-Trump spat, Cuban simply replied, “All I'll say is that I bought a bunch of popcorn.”
The feud between Musk and Trump intensified this week after Musk publicly criticized Trump’s administration over the “One Big Beautiful Bill.”
In response, Trump threatened to terminate billions in government contracts with Musk’s companies, including SpaceX and Tesla Inc.
Musk further escalated the situation with a shocking social media post claiming that Trump is in the Epstein files.
This revelation sent shockwaves across social media and markets, causing Tesla shares to drop by 14% and DJT, the stock tied to Trump’s media company, to fall over 8%. Bitcoin also saw a near 4% slip.
Despite the significant influence both Trump and Musk have in the crypto and tech markets, this public fallout has caught even their closest allies by surprise.
Why It Matters: The feud between these two influential figures has the potential to impact not only their personal reputations but also the companies they represent. Musk’s Tesla and SpaceX, as well as Trump’s media company, are all at risk of financial repercussions due to this public spat.
The significant drop in Tesla’s shares and DJT stock following Musk’s controversial social media post is a clear indication of the potential damage such public feuds can cause.
Furthermore, the ripple effect on Bitcoin’s value shows that the influence of these two figures extends beyond their respective companies and into the broader market.
As the feud continues to unfold, investors and market watchers will be keeping a close eye on the potential fallout.
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Image: Shutterstock/Kathy Hutchins
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