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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