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DraftKings

DraftKings got its start in 2012 as an innovator in daily fantasy sports. Then, following a Supreme Court ruling in 2018 that allowed states to legalize online sports wagering, the company expanded into online sports and casino gambling, where it generally holds the number two or three revenue share position across states in which it competes. DraftKings is now live with online or retail sports betting in about 25 states and iGaming in five states, with both products available to around 40% of Canada's population. In 2024, sports revenue was 61% of total sales, i-gaming 32%, and fantasy and lottery 7%. The company also operates a non-fungible token commissioned-based marketplace and develops and licenses online gaming products.

DraftKings Inc

Elon Musk, the CEO of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), is under fire from investors who are concerned about his lack of focus on the company.
What Happened: Musk&#8217;s attention seems to have shifted from Tesla to his role in President Donald Trump&#8216;s Department of Government Efficiency (DOGE).
Musk, a staunch&nbsp;supporter of Trump, assumed the role of&nbsp;a senior White House adviser&nbsp;after Trump&#8217;s inauguration. Since Trump took office, protests have been held&nbsp;at Tesla showrooms and facilities&nbsp;across the U.S. 
These protests have ranged from peaceful demonstrations to violent acts of vandalism targeting the company&#8217;s facilities, individual vehicles, and Superchargers. Musk&#8217;s remarks on foreign politics have sparked controversy in Europe, resulting in attacks on Tesla vehicles and facilities and a decline in sales in most countries.
As per the report <a href="https://qz.com/elon-musk-donald-trump-tesla-stock-sales-ev-doge-1851769331">by</a> Quartz, Wedbush Securities analyst Dan Ives has pointed out that Tesla investors&#8217; patience is running thin due to Musk&#8217;s noticeable absence from Tesla&#8217;s factories or manufacturing facilities over the last two months.
"In a nutshell the word ‘balance' has been missing with Elon Musk and his ability to run Tesla as CEO, while instead focusing all of his energy and time driving his [Department of Government Efficiency] initiative within the Trump Administration," Ives told the outlet. 
Also Read:&nbsp;<a href="https://www.benzinga.com/news/25/03/44067638/elon-musk-claims-rival-billionaire-wants-to-destroy-trump-to-suppress-jeffrey-epstein-client-list" target="_blank" rel="noreferrer noopener">Elon Musk Claims Rival Billionaire Wants to ‘Destroy' Trump To Suppress Jeffrey Epstein Client List</a>
"Tesla investors are seeing patience wear thin as Musk is not reading the room. there has been "little to no sign of Musk at any Tesla factory or manufacturing facility in the last two months," he added.
Despite the criticism, several high-profile conservatives, including Fox News host Sean Hannity, have shown their support for Tesla by purchasing new vehicles and encouraging their followers to do the same.
On Wednesday, Tesla&#8217;s stock rose nearly 4% in pre-market trading, following a nearly&nbsp;4% increase the previous day.&nbsp;However, the&nbsp;stock was down more&nbsp;than 35% year-to-date.
Musk pledged on Tuesday&nbsp;that Tesla would double its&nbsp;vehicle production in the U.S.&nbsp;over the next two years.&nbsp;However, the specifics of this plan, including potential new investments, remain unclear.
Why It Matters: Investor confidence is a critical factor in a company&#8217;s success, and the current criticism Musk is facing could potentially impact Tesla&#8217;s performance. His involvement in the Trump administration and the resulting protests and vandalism could further affect the company&#8217;s reputation and sales. 
The uncertainty surrounding Musk&#8217;s commitment to Tesla and the lack of clarity on his plan to double vehicle production adds to the growing concerns among investors.
Read Next
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Image: Shutterstock

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TSLA

Tesla's Biggest Bull Frustrated With Elon Musk's Focus On DOGE Over Company: 'Patience Wearing Thin'

Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) has put a halt on its share buyback program.
What Happened: From&nbsp;February 10 to March 5,&nbsp;Berkshire Hathaway&nbsp;refrained from repurchasing any shares. 
A report <a href="https://www.barrons.com/articles/berkshire-stock-buyback-drought-warren-buffett-e34f73be">from</a> Barron's, citing the company&#8217;s proxy statement released on Friday, confirmed that there were approximately 1.438 million shares outstanding as of March 5, indicating no buybacks during this period.
This comes as the company&#8217;s stock is nearing an all-time high, marking the longest period without buybacks since CEO&nbsp;Warren Buffett&nbsp;was granted extended repurchase authority in 2018.
Despite the absence of buybacks,&nbsp;Berkshire&#8217;s stock has continued to perform robustly, outpacing the S&amp;P 500 this year. 
Also Read: <a href="https://www.benzinga.com/markets/25/03/44067982/heres-how-warren-buffett-made-billions-from-an-industry-he-didnt-understand">Here&#8217;s How Warren Buffett Made Billions From An Industry He Didn&#8217;t Understand</a>
Investors are&nbsp;drawn to the company&#8217;s diverse&nbsp;earnings base and defensive appeal,&nbsp;bolstered&nbsp;by over $300 billion in&nbsp;cash and equivalents.
According to <a href="https://www.benzinga.com/pro/">Benzinga</a> Pro, on Friday, Berkshire's Class A shares increased by 1.9% to $771,250, nearing a record high, while Class B shares rose 2% to $514.60.
The stock&nbsp;has seen a gain of approximately 13% this year, significantly surpassing the S&amp;P 500's 4% decline.
Why It Matters: Analysts estimate that Berkshire's intrinsic value is&nbsp;close to its current stock&nbsp;price. If the share price remains high,&nbsp;the company may continue to&nbsp;abstain from&nbsp;stock buybacks throughout the year,&nbsp;as per Barron&#8217;s. 
This could potentially impact the company&#8217;s future financial strategies and investor sentiment.
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Earnings

Berkshire Hathaway Pauses Buybacks With Stock Near All-Time High

SpaceX has denied that its Starlink satellite unit aims to take over Verizon Communication's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) $2.4 billion telecommunications contract with the Federal Aviation Administration, amid speculation about <a href="https://www.benzinga.com/markets/25/03/44276820/elon-musk-reportedly-pledges-100-million-to-trump-linked-political-groups-amid-billion-dollar-losses-in-his-net-worth">Elon Musk&#8217;s influence in the Trump administration</a>.
&#8220;Starlink is a possible partial fix to an aging system. There is no effort or intent for Starlink to &#8216;take over&#8217; any existing contract,&#8221; SpaceX <a href="https://x.com/SpaceX/status/1897376764105478206">posted on X last week</a>. The company said it is &#8220;working with L3Harris and the FAA&#8221; on potential &#8220;infrastructure upgrade for aviation safety.&#8221;
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The clarification came before Transportation Secretary Sean Duffy&#8216;s criticism of Verizon&#8217;s implementation pace. &#8220;Verizon is not moving fast enough,&#8221; Duffy said at a Tuesday press conference, <a href="https://www.reuters.com/business/media-telecom/usdot-says-verizon-not-moving-fast-enough-24-billion-faa-contract-2025-03-11/">according to Reuters</a>. &#8220;I can&#8217;t wait 10 years&#8230; The American people can&#8217;t wait 10 years or 12 years to lay fiber.&#8221;
Verizon responded that it is &#8220;open and willing to work with companies that may offer complementary services&#8221; and has solutions &#8220;ready to be deployed.&#8221;
The FAA is currently testing Starlink systems at several locations while noting that modernizing air traffic control will require &#8220;multiple technologies and companies.&#8221; <a href="https://www.reuters.com/business/aerospace-defense/faa-says-agency-needs-multiple-technologies-us-air-traffic-system-2025-03-05/">According to Reuters</a>, testing includes three Starlink terminals at an Alaska facility to improve weather information access for pilots, with additional evaluations underway in Oklahoma City and Atlantic City, New Jersey.&nbsp;
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The Government Accountability Office has urged immediate action on aging air traffic control systems, noting one-third are unsustainable, <a href="https://www.reuters.com/business/aerospace-defense/faa-says-agency-needs-multiple-technologies-us-air-traffic-system-2025-03-05/">according to Reuters</a>. It has prompted discussions about the Verizon contract, which Reuters reported is under FAA review.
Some Democrats have suggested the contract might be redirected to Starlink, citing Musk&#8217;s relationship with President Donald Trump and his role leading the Department of Government Efficiency.&nbsp;
Musk has previously criticized the FAA&#8217;s current telecommunications infrastructure.
See Also: <a href="https://www.benzinga.com/money/elon-musk-told-the-u-n-if-they-could-show-a-plan-for-ending-world-hunger-hed-donate-6-billion-i-will-sell-tesla-stock-right-now-and-do-it">Elon Musk Told The U.N. If They Could Show A Plan For Ending World Hunger He'd Donate $6 Billion – ‘I Will Sell Tesla Stock Right Now And Do It'</a>
However, Duffy indicated no single company would provide the complete solution. &#8220;It&#8217;s not going to be one company. We&#8217;re going to need a lot of companies to buy in and help build up the system,&#8221; Duffy said.
Verizon, which met with senior FAA officials last week according to Reuters sources, maintains it &#8220;remains best positioned&#8221; to provide the needed technological enhancements.
The FAA has said it has not made any decision on the contract&#8217;s future, while Duffy plans to request &#8220;tens of billions of dollars&#8221; from Congress for air traffic control reform.
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Musk's Starlink Says It's Not Taking Over $2.4 Billion FAA Contract—But Testing Is Underway

President Donald Trump&#8216;s publicity stunt for Elon Musk-owned Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has not resulted in a sales uptick, as per the latest inventory check and new order delivery timelines in the U.S.
What Happened: A high-profile Tesla event in front of the White House this week has not yet had a positive effect on the company&#8217;s sales.
According to a report <a href="https://electrek.co/2025/03/14/trump-tesla-commercial-not-helping-inventory-check/">by</a> Electrek, despite being only four days since the event took place, it seems to have had minimal impact on Tesla&#8217;s sales, based on inventory checks and new order delivery timelines.
This event took place a day after Tesla&#8217;s stock took a 15% dive, significantly impacting Musk&#8217;s wealth.
Musk, a substantial financial backer of Trump, is reportedly considering another $100 million donation to Trump, leading to speculation about a potential reciprocal arrangement.
As of March 14, Tesla&#8217;s U.S. inventory showed no significant changes since the day of Trump&#8217;s ad. The Model 3 and Cybertruck inventories remained stable, with the only noticeable change being a decrease in the Model Y inventory by about 800 units.
Also Read: <a href="https://www.benzinga.com/news/25/03/44209536/trump-vs-musk-federal-workers-unconvinced-hell-take-action-if-they-dont-cut-elon-will-comments-show-whos-really-in-charge">Trump vs Musk? Federal Workers Unconvinced He&#8217;ll Take Action: &#8216;If They Don&#8217;t Cut, Elon will, Comments Show Who&#8217;s Really In Charge&#8217;</a>
On March 11, the day of the White House event, Tesla's U.S. inventory included 1,136 Model 3s, 2,332 Model Ys, and 1,010 Cybertrucks, according to Troy Teslike. As of March 14, the inventory stood at 1,435 Model 3s, 1,500 Model Ys, and 1,006 Cybertrucks. While Model 3 listings increased slightly, overall inventory levels remained relatively stable, showing no significant impact from the event.
However, attributing this decrease to Trump&#8217;s ad might be hasty, as Tesla has been aggressively discounting the old generation Model Y to make way for the new generation. 
While the event may have helped Tesla clear some old Model Y units, it&#8217;s highly unlikely that it spurred new orders for the new Model Y.
Why It Matters: The lack of a sales boost following the event raises questions about the effectiveness of such high-cost publicity stunts.
It also highlights the challenges Tesla faces in driving sales amid market volatility and the transition to new vehicle models. 
The situation underscores the importance of strategic marketing and product positioning in the highly competitive auto industry.
Read Next
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Image: Shutterstock AI

Trump's Tesla Shoutout Falls Flat — No Spike in Orders or Inventory Movement

Rep. John Larson (D-CT)&nbsp; went all out during a fiery House Ways and Means Committee <a href="https://www.youtube.com/watch?v=4WmWZ0pZpyQ">hearing</a> on March 12, criticizing Republican lawmakers for blocking Elon Musk from testifying about his role in shaping Social Security policy.&nbsp;
Larson, the top Democrat on the House's Social Security subcommittee, accused Musk and President Donald Trump's administration of pushing for a plan to <a href="https://www.benzinga.com/personal-finance/25/03/44252340/up-next-privatizing-social-security-warns-bernie-sanders-says-trump-wants-to-undermine-a-program-that-lifted-27-6m-from-poverty">privatize the program</a> while avoiding public accountability.
&#8220;Where's Elon Musk? I'm sure he's a genius and is a very credible person because of the wealth he's accumulated, but that does not put him above the law or the responsibility to come before this committee and this Congress,&#8221; Larson said.
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<h2 class="wp-block-heading">Privatization Push Under Fire</h2>
Larson has spent years advocating for <a href="https://www.benzinga.com/personal-finance/24/07/39843652/congress-has-not-done-anything-in-53-years-about-social-security-says-u-s-rep-john-larson">Social Security's expansion</a>, but recent moves by the Trump administration have raised alarms among Democrats. Musk, a Trump ally, has <a href="https://www.benzinga.com/news/25/03/44156805/elon-musk-once-again-calls-social-security-the-biggest-ponzi-scheme-of-all-time-struggles-to-explain-to-joe-rogan-why">repeatedly called Social Security</a> the &#8220;biggest Ponzi scheme of all time&#8221; and claimed without evidence that officials had uncovered hundreds of millions of dollars in fraud.
In recent weeks, the Department of Government Efficiency, led by Musk, has moved to cut thousands of jobs at the Social Security Administration and shut down field offices nationwide—including in Connecticut. The Washington Post <a href="https://www.washingtonpost.com/politics/2025/03/12/social-security-phone-doge-elderly-disabled/">reported</a> that under pressure from DOGE, the agency is even considering eliminating phone services, a critical resource for millions of Americans who rely on Social Security benefits.
Larson argued that these actions are designed to weaken the program and set the stage for privatization. &#8220;Because he's out to privatize Social Security,&#8221; Larson said when answering his own question about Musk's absence from the hearing.
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<h2 class="wp-block-heading">GOP Faces Backlash Over Hearing</h2>
Democrats, including Sens. Richard Blumenthal (D-CT) and Chris Murphy (D-CT), have called on the SSA to explain its decision to cut staff and services.
&#8220;As one of the nation's most popular and effective programs, Social Security provides a foundation of income on which workers can build for their retirement, as well as valuable insurance protection against unexpected hardship,&#8221; they wrote in a <a href="https://www.rosen.senate.gov/wp-content/uploads/2025/03/030625_letter_to_ssa_acting_commissioner_re.staffingreductions.pdf">letter</a> to SSA Acting Commissioner Leland Dudek. &#8220;By slashing staff and eliminating field offices, fewer Americans will be able to seek assistance during pivotal life events and risk causing further hardship to those in dire circumstances.&#8221;
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Republicans have defended Musk, arguing that his claims about fraud deserve further investigation. Trump himself has also made conflicting statements, echoing Musk's fraud allegations while also <a href="https://www.benzinga.com/personal-finance/24/07/39956660/donald-trump-swears-to-protect-social-security-but-formerly-referred-to-it-as-a-ponzi-scheme">promising to &#8220;protect&#8221;</a> Social Security. Critics, however, see the administration's moves as part of a broader attempt to weaken public trust in the program and justify future cuts.
With Republicans controlling the House and Senate, Musk and Trump's influence over Social Security policy remains a major concern for Democrats. Larson and his colleagues are demanding that the administration turn over documents related to its plans for the program. But for now, one major question remains unanswered:
&#8220;If these plans and all the fraud and abuse he's found are so eminent, why isn't he here explaining it?&#8221; Larson asked during the hearing. So far, Musk has yet to respond.
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'Where Is Elon Musk?'—Rep. Larson Blasts GOP For Blocking His Testimony In Congress, Says His Wealth Doesn't Put Him 'Above The Law'

ARK Invest CEO Cathie Wood <a href="https://www.benzinga.com/etfs/specialty-etfs/24/06/39294523/cathie-wood-ark-invest-set-new-2-600-price-target-for-tesla-every-car-becomes-an-ai-powered-c">maintains her ambitious $2,600 price target</a> for Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) by 2029—valuing the company at over $9 trillion—despite the stock&#8217;s near 41% decline since the beginning of the year.
&#8220;It&#8217;s winner take most,&#8221; Wood said of Tesla&#8217;s position in the autonomous vehicle race during <a href="https://www.bloomberg.com/news/audio/2025-03-11/cathie-wood-on-what-s-next-for-ai-tesla-big-tech-tsla?srnd=phx-markets">Bloomberg&#8217;s "Odd Lots" podcast</a>. &#8220;And we do believe that Tesla will be and is in the pole position here in the United States.&#8221;
Wood sees robotaxis as an $8 trillion to $10 trillion opportunity that could transform Tesla from an auto manufacturer to a software company. She predicts autonomous vehicles will boost Tesla&#8217;s gross margins from the current 16% to up to 90%, according to <a href="https://fortune.com/2025/03/04/elon-musk-inventor-of-our-age-doge-distracted-cathie-wood-tesla-stock/">Fortune</a>.
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Wood's bullish outlook hasn&#8217;t translated into strong performance for her flagship $6 billion ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), where Tesla <a href="https://www.ark-funds.com/funds/arkk">represents the largest holding at 10.74%</a>. The fund has gained just 2% over the past five years while the S&amp;P 500 has nearly doubled.&nbsp;
ARKK is down more than 16% year-to-date.
However, retail investors added nearly $300 million to ARKK on Monday—its largest single-day inflow in two years, <a href="https://www.bloomberg.com/news/articles/2025-03-11/arkk-fans-plow-300-million-into-battered-etf-despite-big-losses?embedded-checkout=true">according to Bloomberg</a>. It came despite the fund tumbling about 9% that day amid a broader market selloff.
Matt Maley, chief market strategist at Miller Tabak + Co., told Bloomberg that retail investors are buying tech stocks as the sector has taken a beating this year. The &#8220;buy-the-dip&#8221; mentality is strong, according to Bloomberg, particularly among those seeking Tesla exposure.
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Wood called Musk &#8220;the inventor of our age&#8221; and dismissed concerns that his role heading the Department of Government Efficiency would distract from Tesla. &#8220;He&#8217;s surrounded himself by businesspeople and engineers who want to work on the hardest projects in the world,&#8221; she said.
Beyond Tesla, Wood anticipates an &#8220;R&amp;D explosion in health care,&#8221; with CRISPR Therapeutics AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRSP#NASDAQ">CRSP</a>) representing <a href="https://www.ark-funds.com/funds/arkk">nearly 6% of ARKK&#8217;s portfolio</a>. She compared President Donald Trump&#8217;s second term to the &#8220;Reagan revolution,&#8221; calling that era &#8220;the heyday, golden age of active management.&#8221;
Despite Monday&#8217;s inflow, ARKK hasn&#8217;t seen a monthly net positive since December 2023, according to Bloomberg.&nbsp;
Bloomberg noted that many of ARKK&#8217;s top holdings from November 2021 remain unchanged, including Tesla, Roku (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), and Shopify (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>)—none of which have kept pace with the broader market since then.
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Cathie Wood Stands By Tesla's $2,600 Price Target Despite 40% Stock Drop: 'It's Winner Take Most

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas" target="_blank" rel="noreferrer noopener"> many investors' favorite stocks</a> over the last week — here's a look at some of our top stories.
This week, U.S. stock markets tumbled into correction territory, with the S&amp;P 500 dropping over 10% from February highs. Investor fears surged over President Donald Trump's tariff hikes on Canadian steel and aluminum, fueling recession concerns and a potential global slowdown.
Consumer confidence plummeted, with the University of Michigan's index falling 11% to 57.9, its lowest since 2022. Trade tensions, government layoffs, and immigration restrictions stoked worries about reduced spending and a weakening job market.
Despite the turmoil, markets rebounded Friday, with the Dow Jones gaining over 200 points as utilities, tech, and energy stocks rallied. However, consumer staples and financials lagged, underscoring persistent economic uncertainty.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.
The Bulls
In <a href="https://www.benzinga.com/news/earnings/25/03/44317205/docusign-q4-earnings-revenue-beat-eps-beat-billings-up-11-shares-move-higher-despite-soft-guidance">"DocuSign Q4 Earnings: Revenue Beat, EPS Beat, Billings Up 11%, Shares Move Higher Despite Soft Guidance"</a>, by Adam Eckert, DocuSign Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOCU#NASDAQ">DOCU</a>) reports a 9% revenue increase to $776.3 million and adjusted earnings per share of 86 cents, surpassing expectations, with billings up 11%, though shares rose despite soft guidance.
In <a href="https://www.benzinga.com/25/03/44301722/d-wave-quantum-stock-rallies-on-strong-q4-booking-growth-and-optimistic-outlook">"D-Wave Quantum Stock Gains On Strong Q4 Booking Growth, Optimistic Outlook"</a> by Nabaparna Bhattacharya, D-Wave Quantum Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>) reports a 502% year-over-year increase in Q4 bookings to $18.3 million and anticipates Q1 2025 revenue to exceed $10 million, driven by the sale of an Advantage quantum computer.
In <a href="https://www.benzinga.com/25/03/44323837/radius-recycling-lands-merger-deal-at-115-premium-shares-skyrocket">"Radius Recycling Lands Merger Deal At 115% Premium, Stock Skyrockets"</a> by Lekha Gupta, Radius Recycling Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDUS#NASDAQ">RDUS</a>) agrees to a $1.34 billion acquisition by Toyota Tsusho America, offering $30 per share—a 115% premium—causing Radius shares to surge 109% premarket.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/top-stories/25/03/44313558/nvidia-stock-reached-all-time-highs-after-jensen-huangs-ces-keynote-will-next-weeks-gtc-spark-another-surge">Nvidia Stock Reached All-Time Highs After Jensen Huang's CES Keynote — Will Next Week's GTC Spark Another Surge?</a>
<a href="https://www.benzinga.com/analyst-ratings/price-target/25/03/44302205/why-intel-stock-is-surging-thursday">Why Intel Stock Is Surging Thursday</a>
<a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44317256/bitcoin-to-hit-250k-by-end-of-2025-tim-draper-predicts-will-be-the-dominant-currency-of-the-world">Bitcoin To Hit $250K By End Of 2025 Tim Draper Predicts: ‘Will Be The Dominant Currency Of The World'</a>
The Bears
In <a href="https://www.benzinga.com/news/large-cap/25/03/44237691/magnificent-7-sheds-over-750-billion-in-market-cap-in-one-day-is-big-techs-honeymoon-over">"Magnificent 7 Sheds Over $750 Billion In Market Cap In One Day: Is Big Tech's Honeymoon Over?"</a> by Hayden Buckfire, the Magnificent Seven tech companies, including Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), collectively lost approximately $780 billion in market capitalization on Monday, driven by investor concerns over a potential recession and President Donald Trump's proposed tariff plans.
In <a href="https://www.benzinga.com/general/social-media/25/03/44286296/trump-media-technology-stock-drops-50-since-inauguration-day">"Trump Media &amp; Technology Stock Drops 50% Since Inauguration Day"</a> by Erica Kollmann, Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares have fallen 50% since President Donald Trump's inauguration, closing at $19.50, amid market volatility and policy uncertainties.
In <a href="https://www.benzinga.com/25/03/44274151/palantirs-stock-takes-a-hit-but-will-aipcon-defense-deals-be-the-comeback-catalyst">"Palantir's Stock Takes A Hit: Will AIPCon And Defense Deals Be The Comeback Catalyst?"</a> by Surbhi Jain, Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) shares have declined 33.51% over the past month, trading below key moving averages, as investors await potential catalysts from the upcoming AIPCon and recent defense contracts.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/trading-ideas/movers/25/03/44307671/is-high-flying-ionq-stock-a-disaster-in-the-making-shares-slide-as-short-seller-raises-red-flags">Is High-Flying IonQ Stock A ‘Disaster In The Making'? Shares Slide As Short Seller Raises Red Flags</a>
<a href="https://www.benzinga.com/trading-ideas/technicals/25/03/44256996/terawulf-stock-tanks-death-cross-spells-trouble-for-bitcoin-miner">TeraWulf Stock Tanks: Death Cross Spells Trouble For Bitcoin Miner</a>
<a href="https://www.benzinga.com/25/03/44229052/oracle-stock-stumbles-into-q3-earnings-will-buyers-step-in-as-it-nears-oversold-territory">Oracle Stock Stumbles Into Q3 Earnings: Will Buyers Step In As It Nears Oversold Territory</a>
Keep up with all the latest breaking news and trading ideas by following <a href="https://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener">Benzinga</a><a href="http://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener"> on X</a>.
Image created using artificial intelligence via Midjourney.

DOCU

PLTR

QBTS

RDUS

Benzinga Bulls And Bears: DocuSign, Magnificent 7, Palantir — And Tariffs Keep Roiling Markets

Last year, Warren Buffett was criticized and mocked for sitting on a mountain of cash while markets surged. However, now, with stocks tumbling and recession fears mounting, the "Oracle of Omaha" suddenly looks like the only one who saw it coming.
What Happened: Berkshire Hathaway sold a staggering <a href="https://in.benzinga.com/markets/equities/25/02/44018996/buffetts-on-the-sidelines-should-you-follow">$134 billion worth</a> of stocks in 2024 — and barely touched the cash.
Buybacks were paused entirely in the second half, leaving Buffett's firm with a record-breaking <a href="https://in.benzinga.com/25/02/43904932/warren-buffett-favors-5-treasury-bills-over-buybacks-as-berkshire-hathaways-cash-pile-surges-the-rate-of-change-thats-most-telling-says-lawrence-mcdonald">$334 billion cash reserve</a> by year's end. At the time, critics questioned his reluctance to reinvest as the S&amp;P 500 logged two consecutive years of 20%+ gains.
See Also:&nbsp;<a href="https://www.benzinga.com/25/03/44212384/bill-ackman-clashes-with-david-sacks-over-ukraine-strategy-asks-if-us-should-let-russia-take-the-rest-of-eastern-europe" target="_blank" rel="noreferrer noopener">Bill Ackman Clashes With David Sacks Over Ukraine Strategy, Asks If US Should Let Russia ‘Take The Rest Of Eastern Europe'</a>
Now, those same critics are eating their words.
Buffett slashed his Apple Inc. stake from 49% to just 23% of Berkshire's portfolio and reduced holdings in Bank of America. Weeks later, markets began to unravel.
The <a href="https://in.benzinga.com/markets/equities/25/03/44212672/jamie-dimon-cashed-out-234-million-in-jpmorgan-stock-warren-buffett-stockpiled-334-billion-in-cash-weeks-later-markets-crashed-coincidence">Nasdaq 100 dropped 8.83%</a> in just 18 days, while JPMorgan stock — sold by CEO Jamie Dimon in a $234 million February trade — tumbled more than 9.6%.
The Internet Is Paying Attention:
"There is only one billionaire in the top 10 whose net worth increased today: Warren Buffett," posted X user Dan Stone, sharing a screenshot of showing Buffett being the only one whose net worth increased by $607 million on March 10, 2025, amid a broader market decline
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There is only one billionaire in the top 10 whose net worth increased today: Warren Buffett <a href="https://t.co/1HvrJioUJf">pic.twitter.com/1HvrJioUJf</a>
&mdash; Dan Stone (@dan5one) <a href="https://twitter.com/dan5one/status/1899237658741920003?ref_src=twsrc%5Etfw">March 10, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another chimed in: "Just remember, there was a reason why Warren Buffett went $$340 billion cash. He knew."
Here are some other reactions:&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Warren Buffett is so smart he managed to sit out a Bull market which gained 42% so he could avoid the horrible losses of a 8% correction &#8211; Fintwit &#x1f609; <a href="https://t.co/sqlyv1oQuF">pic.twitter.com/sqlyv1oQuF</a>
&mdash; Reminiscences of an American Capitalist (@4Awesometweet) <a href="https://twitter.com/4Awesometweet/status/1899513384007303511?ref_src=twsrc%5Etfw">March 11, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Warren Buffett watching the stock market collapse while holding $300 Billion in T-Bills<a href="https://t.co/dkf6z23d0c">pic.twitter.com/dkf6z23d0c</a>
&mdash; Geiger Capital (@Geiger_Capital) <a href="https://twitter.com/Geiger_Capital/status/1899166290570260818?ref_src=twsrc%5Etfw">March 10, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
On Threads, the reaction was even sharper. "Funny how just days before the recent stock market crash, Warren Buffett cashed out $334 billion in stocks," wrote one user. "Meanwhile, JPMorgan CEO Jamie Dimon also sold hundreds of millions in shares. Coincidence? Or do they know something we don't?"
Another said, "Warren Buffett always knows when the collapse is coming because he's the first person they call when they need someone to bail them out."
Why It Matters: Economic uncertainty is growing, with President Donald Trump referring to the current state as "a period of transition" when asked about the likelihood of a recession.
Meanwhile, warning signs from the bond market are flashing, as investors increasingly favor short-term Treasuries amid expectations of interest <a href="https://www.benzinga.com/markets/equities/25/03/44212386/stock-futures-drop-as-reverse-trump-trade-takes-holdpeter-schiff-says-market-shift-long-overdue-and-will-likely-continue-for-a-decade">rate cuts by the Federal Reserve</a>.
Buffett has voiced <a href="https://www.benzinga.com/news/25/03/44122159/warren-buffett-calls-tariffs-an-act-of-war-warns-they-function-as-a-tax-on-goods-amid-market-turmoil">sharp criticism of tariffs</a>, calling them "an act of war" and equating them to a hidden tax on consumers. Analysts at Goldman Sachs have cautioned that a 5% hike in tariffs could slash corporate earnings by 1–2%, potentially leading to a 5% drop in the S&amp;P 500.
Still, Buffett remains optimistic about the future of U.S. businesses, reaffirming his confidence by saying, "A majority of any money I manage will always be in the United States."
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/03/44212386/stock-futures-drop-as-reverse-trump-trade-takes-holdpeter-schiff-says-market-shift-long-overdue-and-will-likely-continue-for-a-decade" target="_blank" rel="noreferrer noopener">Stock Futures Drop As ‘Reverse Trump Trade' Takes Hold—Peter Schiff Says Market Shift ‘Long Overdue' And Will Likely Continue For A Decade</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Tech

Warren Buffett's Berkshire Hathaway Sold $134 Billion In Stocks In 2024, Timing It Perfectly As Recession Fears Mount: The Internet Is In Awe

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has reportedly paused deliveries of Cybertruck after multiple owners complained that exterior metal panels were detaching.
What Happened: Tesla delivery agents have stated that all outbound Cybertruck shipments have been halted due to concerns that the adhesive used to attach the stainless steel panels is failing, <a href="https://electrek.co/2025/03/13/tesla-cybertruck-deliveries-are-on-hold-as-trims-are-flying-off-the-bulletproof-truck/">reported</a> Electrek.
Images shared by owners on social media show sharp-edged trim flapping in the wind and, in some cases, entire bumpers hanging loose.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Just GLUED on?? What a piece of junk! <a href="https://twitter.com/cybertruck?ref_src=twsrc%5Etfw">@Cybertruck</a> here reminds me of how growing up as a child toys transitioned from having solid, well-made, screwed on pieces and parts into crudely glued together chunks of crude plastic and die cast pot metal. Bad look, <a href="https://twitter.com/Tesla?ref_src=twsrc%5Etfw">@Tesla</a>. REALLY bad. <a href="https://t.co/3sjdfOPmAj">pic.twitter.com/3sjdfOPmAj</a>
&mdash; Darth Continent (@DarthContinent) <a href="https://twitter.com/DarthContinent/status/1900182399171833876?ref_src=twsrc%5Etfw">March 13, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Owners in colder climates, in particular, have been raising concerns for weeks, with some drivers filing complaints with the National Highway Traffic Safety Administration (NHTSA).
See Also: <a href="https://in.benzinga.com/25/02/43456592/tesla-researcher-expects-cybertruck-deliveries-to-fall-in-2025-order-backlog-is-gone">Tesla Cybertruck Headed For A Sales Crash In 2025? Analyst Sounds The Alarm, Predicts Elon Musk-led EV Giant Will Move Less Than A Third Of Street Estimates</a>
Tesla has not issued an official statement addressing the reported defect or the delivery halt. The company has already recalled Cybertrucks for other issues, including accelerator pedals sticking and plastic trim pieces detaching during normal use.
Why It's Important: The Cybertruck, one of Tesla's most hyped vehicles, has faced a rocky rollout since its launch, with delays, recalls, and quality control concerns piling up.&nbsp;
In August 2024, YouTuber Cody Detwiler, known as WhistlinDiesel, drew widespread attention after subjecting a Cybertruck to a series of stress tests, revealing how easily the vehicle's exterior could be damaged.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="WhistlinDiesel Cybertruck Durability Test #1" width="500" height="281" src="https://www.youtube.com/embed/PK_EJ3DyiiA?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Additionally, the Cybertruck&#8217;s controversial design has impacted business for some owners. Yoni Menaker, a business owner, reported losing $70,000 in contracts due to customer aversion to the <a href="https://in.benzinga.com/personal-finance/25/03/44249300/tesla-cybertruck-owner-says-hes-lost-70k-in-business-over-backlash-customers-hate-it-but-he-loves-it-the-best-truck-ive-ever-had">vehicle&#8217;s appearance</a>.
Tesla CEO Elon Musk once touted the <a href="https://www.benzinga.com/news/24/02/37306930/elon-musk-dubs-cybertruck-finest-in-apocalypse-defense-technology-after-ev-pickups-cameras-record-fa">Cybertruck as apocalypse-proof</a>, but ongoing quality issues may turn the bold EV into a reputational risk for the brand.
Last month, it was reported that the EV giant has been struggling with inventory buildup as Cybertruck units were seen accumulating <a href="https://www.benzinga.com/tech/25/02/44037023/tesla-cybertruck-inventory-swells-despite-discounts-falling-short-of-elon-musks-vision">outside Tesla&#8217;s Texas gigafactory</a>. This has led to aggressive discounting strategies to boost sales.
Price Action: Tesla shares closed at $249.98 on Friday, up 3.86% for the day. The stock is down 34.09% year to date, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Check out more of Benzinga's Future Of Mobility coverage by <a href="https://www.benzinga.com/topic/mobility">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/02/43455022/fords-mustang-mach-e-was-its-saving-grace-in-january-as-sales-of-its-other-evs-dipped" target="_blank" rel="noreferrer noopener">Mustang Mach-E Accelerates Ford's EV Sales In January Even As F-150 Lightning Slows Down</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Media

Elon Musk's Tesla Halts Cybertruck Deliveries After Metal Panels Reportedly Fall Off — Owners Living In Cold Weather Say Glue Is Failing

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly facing internal turmoil as it <a href="https://in.benzinga.com/media/25/03/44207932/apple-delays-next-gen-siri-its-going-to-take-us-longer-than-we-thought-to-deliver-ai-upgrades">struggles to fix major AI failures</a> in Siri, with a top executive calling the delays ugly and embarrassing after the company prematurely marketed features that weren't ready.
What Happened: During an all-hands meeting for Apple's Siri division, senior director Robby Walker acknowledged the frustration among employees over the repeated delays of key AI-powered Siri enhancements, <a href="https://www.bloomberg.com/news/articles/2025-03-14/apple-s-siri-chief-calls-ai-delays-ugly-and-embarrassing-promises-fixes">reported</a> Bloomberg, citing people familiar with the matter.
"This was not one of those situations where we get to show people our plan after it's done," Walker told staff, referring to <a href="https://www.benzinga.com/news/24/06/39228141/apple-intelligence-what-to-expect-from-tim-cooks-wwdc-plans-for-bringing-ai-to-iphone-ipad-and-mac">Apple's demonstration of its AI features</a> at WWDC. "We showed people before."
See Also:&nbsp;<a href="https://www.benzinga.com/25/03/44069535/anthropic-ceo-dario-amodei-pushes-for-stronger-us-ai-safeguards-saying-autocracies-like-china-and-russia-could-use-ai-to-expand-their-power" target="_blank" rel="noreferrer noopener">Jeff Bezos-Backed Anthropic Pushes For Stronger US AI Safeguards, Saying Autocracies Like China, Russia Could Use AI To Expand Their Power</a>
Walker admitted that Apple's marketing team made the situation worse by promoting the upcoming Siri features in TV commercials and branding campaigns despite knowing they were not ready for launch.
Initially <a href="https://www.benzinga.com/news/24/07/39665558/apples-most-awaited-siri-ai-upgrade-will-not-come-until-2025-report">expected in early 2024</a>, the AI-powered Siri enhancements—designed to improve personal assistant functionality, data integration, and app control—have been repeatedly delayed due to performance issues.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Walker said Apple found that the features only worked properly two-thirds to 80% of the time, meaning they failed one out of every three attempts.
Apple now aims to roll out the improvements in iOS 19, but Walker warned that even this timeline is uncertain, citing competing priorities within Apple's software and hardware teams.
Why It's Important: The delays highlight Apple's ongoing struggles in AI, particularly as competitors like OpenAI, Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) advance rapidly.&nbsp;
Siri has lagged behind rivals, and these setbacks reinforce concerns about <a href="https://www.benzinga.com/tech/25/03/44068020/apples-ai-crisis-falling-behind-in-the-ai-race">Apple's ability to compete in the AI space</a>.
Apple's AI missteps come as the company faces a 12.45% stock decline year-to-date amid broader market struggles.
Earlier this week, Morgan Stanley raised concerns over Apple&#8217;s AI delay, cutting its <a href="https://in.benzinga.com/analyst-ratings/analyst-color/25/03/44284821/apple-stock-takes-a-bite-out-of-investors-as-siri-fumbles-ai-race">price target from $275 to $252</a>.&nbsp;
Meanwhile, in a bid to regain its footing, Apple has reportedly partnered with Alibaba Group Holding Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) to enhance <a href="https://in.benzinga.com/analyst-ratings/analyst-color/25/02/43655603/apple-finds-its-ai-wingman-in-alibaba-can-it-power-an-iphone-comeback-in-china">AI features in iPhones</a> for the Chinese market. This collaboration could be crucial for Apple&#8217;s efforts to reclaim market share in China.
Price Action: Apple&#8217;s stock closed at $213.49 on Friday, rising 1.82% for the day. However, after-hours trading saw a slight decline of 0.094%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/legal/25/03/44344993/apple-reportedly-fights-uk-governments-unacceptable-encryption-order-behind-closed-doors-no-press-or-public-allowed">Apple Reportedly Fights UK Government&#8217;s &#8216;Unacceptable&#8217; Encryption Order Behind Closed Doors — No Press Or Public Allowed</a></li>
</ul>
Photo courtesy: Apple

AAPL

AMZN

BABA

GOOG

GOOGL

MSFT

Apple Scrambles To Fix Siri's AI Failures After Public Misstep—Top Executive Admits Marketing It Too Soon Made Things Worse

On Friday, Mar. 14, 2025, the&nbsp;Cathie Wood-led&nbsp;Ark Invest&nbsp;made significant trades involving&nbsp;GitLab Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLB#NASDAQ">GTLB</a>),&nbsp;Intellia Therapeutics Inc&nbsp;(NGM: NTLA),&nbsp;Prime Medicine Inc&nbsp;(NGM: PRME),&nbsp;UiPath Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PATH#NYSE">PATH</a>),&nbsp;Ibotta Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBTA#NYSE">IBTA</a>),&nbsp;Roblox Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>),&nbsp;Repare Therapeutics Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPTX#NASDAQ">RPTX</a>), and&nbsp;CareDx Inc&nbsp;(NGM: CDNA).
The PATH Trade:&nbsp;Ark Invest&#8217;s ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) and ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) funds sold shares of UiPath Inc. The ARKK fund sold 1,092,269 shares, while the ARKW fund sold 158,650 shares.
With the stock closing at $10.88, the total value of the sold shares was approximately $13.61 million.
The RBLX Trade:&nbsp;Ark Invest&#8217;s ARK Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>) and ARKW funds sold shares of Roblox Corp. The ARKF fund sold 10,057 shares, while the ARKW fund sold 28,700 shares.
With the stock closing at $56.51, the total value of the sold shares was approximately $2.19 million.
The GTLB Trade:&nbsp;Ark Invest&#8217;s ARKK fund bought 81,543 shares of GitLab Inc, with the stock closing at $52.08. This translated to an investment of approximately $4.24 million.
The ARKW fund also purchased 22,610 shares of GitLab Inc, amounting to an investment of around $1.18 million.
The NTLA Trade:&nbsp;The ARK Genomic Revolution ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKG#BATS">ARKG</a>) and ARKK funds of Ark Invest bought shares of Intellia Therapeutics Inc. The ARKG fund acquired 11,276 shares, while the ARKK fund purchased 56,244 shares.
With the stock closing at $9.14, the total investment was approximately $0.62 million.
The PRME Trade:&nbsp;Ark Invest&#8217;s ARKK fund sold 46,026 shares of Prime Medicine Inc. The stock closed at $1.79, making the total value of the sold shares around $82,386.
The IBTA Trade:&nbsp;Ark Invest&#8217;s ARKF and ARKW funds bought shares of Ibotta Inc. The ARKF fund acquired 10,967 shares, while the ARKW fund purchased 68,234 shares.
With the stock closing at $37.87, the total investment was approximately $2.99 million.
The RPTX Trade:&nbsp;Ark Invest&#8217;s ARKG fund sold 53,449 shares of Repare Therapeutics Inc.
The stock closed at $1.1, making the total value of the sold shares around $58,794.
The CDNA Trade:&nbsp;Ark Invest&#8217;s ARKG fund sold 47,153 shares of CareDx Inc. The stock closed at $18.9, making the total value of the sold shares around $891,191.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

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CDNA

GTLB

IBTA

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PATH

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RPTX

Cathie Wood's Ark Invest Continues To Offload UiPath, Roblox: Loads Up On GitLab, Ibotta

On Friday, Vice President JD Vance said <a href="https://in.benzinga.com/news/global/25/02/43604572/jd-vance-quarterbacking-tiktok-deal-will-his-venture-capital-experience-secure-a-win">that a deal to keep</a> TikTok operating in the U.S. under American ownership is close to being finalized ahead of the April 5 deadline.
What Happened: In an <a href="https://www.nbcnews.com/politics/jd-vance/vance-high-level-agreement-tiktok-april-5-deadline-rcna196410">interview</a> with NBC News aboard Air Force Two, Vance expressed optimism that a framework to create "a distinct American TikTok enterprise" will be in place, even if all the legal paperwork isn't completed by the deadline.
"There will almost certainly be a high-level agreement that I think satisfies our national security concerns," he said.
See Also: <a href="https://www.benzinga.com/25/01/42758430/tiktok-fined-10-million-in-venezuela-as-supreme-court-blames-platform-for-failing-to-prevent-deadly-viral-challenges">TikTok Fined $10 Million In Venezuela, Funds To Be Used To Compensate Victims Of Deadly Viral Challenges</a>
"The deal itself will be very clear, but actually creating those thousands and thousands of pages of legal documents, that's the one thing that I worry could slip," Vance added.
Why It's Important: The Joe Biden-era law requires TikTok's Chinese parent company, ByteDance, to sell the app to a U.S. buyer or face a nationwide ban.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
President Donald Trump, who issued a <a href="https://in.benzinga.com/markets/25/03/44213698/us-courts-new-buyers-for-tiktok-as-deal-deadline-approaches-all-four-are-good-says-trump">75-day delay on enforcing</a> the ban upon taking office, tasked Vance and national security adviser Michael Waltz with facilitating the deal.
ByteDance has not confirmed any negotiations publicly, but several high-profile U.S. bidders, including Reddit co-founder Alexis Ohanian and entrepreneur Reid Rasner, have expressed interest.
Previously, it was reported that discussions surrounding the sale of TikTok&#8217;s U.S. operations had reached a <a href="https://in.benzinga.com/general/social-media/25/02/43511395/trump-pushes-for-tiktok-deal-china-could-oblige-if-it-werent-for-those-tariffs-heres-what-we-know">standstill with ByteDance</a> stalling negotiations as it awaited approval from Beijing.
China has reportedly taken a firm stance on the matter and may prefer allowing TikTok's U.S. branch to shut down rather than consenting to a sale unless Washington agrees to broader trade and technology concessions.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/tech/24/12/42739523/apple-amazon-samsung-and-nintendo-what-tech-marvels-are-these-giants-cooking-in-2025?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple, Amazon, Samsung, And Nintendo: What Tech Marvels Are These Giants Cooking In 2025</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Social Media

TikTok Ban Deadline Looms, But Vice President JD Vance Confirms 'High-Level' US Ownership Deal Is Nearly Done

Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://in.benzinga.com/tech/25/02/43903365/apple-ditches-budget-smartphone-segment-with-iphone-16e-launch">newly released</a> iPhone 16e is off to a strong start, but analysts say it won't be enough to offset the tech giant's declining sales in China this year.
What Happened: According to IDC, sales of the iPhone 16e in its first three days were 60% higher than those of the third-generation iPhone SE launched in 2022, <a href="https://www.bloomberg.com/news/articles/2025-03-14/apple-s-iphone-16e-is-outselling-iphone-se-but-won-t-reverse-china-slide?cmpid%3D=socialflow-twitter-tech&amp;utm_medium=social&amp;utm_content=tech&amp;utm_campaign=socialflow-organic&amp;utm_source=twitter">reported</a> Bloomberg.
The <a href="https://www.benzinga.com/tech/25/02/43820197/apple-unveils-iphone-16e-with-a18-chip-ai-features-599-price-tag">new $599 model replaces</a> the $429 iPhone SE, offering a refreshed budget option for consumers. However, the device features only a single rear camera, limited base storage, and lacks advanced AI capabilities — a disadvantage in China's competitive smartphone market.
See Also:&nbsp;<a href="https://www.benzinga.com/25/03/44069535/anthropic-ceo-dario-amodei-pushes-for-stronger-us-ai-safeguards-saying-autocracies-like-china-and-russia-could-use-ai-to-expand-their-power" target="_blank" rel="noreferrer noopener">Jeff Bezos-Backed Anthropic Pushes For Stronger US AI Safeguards, Saying Autocracies Like China, Russia Could Use AI To Expand Their Power</a>
IDC projects Apple's overall sales in China will fall about 2% in 2025. "The competition from Android will be even stronger, strengthened by the national China subsidies which will benefit Android significantly more than Apple," stated Nabila Popal, IDC's senior director.
While Apple plans to roll out its <a href="https://www.benzinga.com/markets/25/02/43683976/apple-intelligence-rollout-in-china-and-europe-to-boost-iphone-sales-says-deepwaters-gene-munster">Apple Intelligence AI suite in China</a> later this year, that may not be enough to shift consumer sentiment, the report noted.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It's Important: Apple may find success elsewhere. IDC expects the iPhone 16e to account for up to 20% of iPhone sales in India in the second half of 2025.
Apple previously reported an 11% sales decline in China over the holiday period, with the iPhone likely a key contributor.
Apple reported $124.3 billion in revenue for its <a href="https://in.benzinga.com/news/earnings/25/01/43355688/apple-q1-earnings-revenue-beat-eps-beat-iphone-sales-slip-installed-base-climbs-to-all-time-high-our-best-quarter-ever">fiscal first quarter</a>, surpassing analysts&#8217; expectations of $124.13 billion. iPhone sales reached $69.14 billion, slightly lower than the $69.7 billion recorded in the same period last year.
Price Action: Apple&#8217;s stock closed at $213.49 on Friday, rising 1.82% for the day. However, it edged down 0.094% in after-hours trading. Year to date, AAPL is down 12.45%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/legal/25/03/44344993/apple-reportedly-fights-uk-governments-unacceptable-encryption-order-behind-closed-doors-no-press-or-public-allowed">Apple Reportedly Fights UK Government&#8217;s &#8216;Unacceptable&#8217; Encryption Order Behind Closed Doors — No Press Or Public Allowed</a></li>
</ul>
Photo courtesy: Apple

Apple's iPhone 16e Outsells iPhone SE By 60%, But Analysts Say It Won't Stop China Sales From Sliding In 2025

Ray Dalio, founder of Bridgewater Associates, has raised alarms about the United States&#8217; national debt, predicting an imminent crisis.
What Happened:&nbsp;According <a href="https://fortune.com/2025/03/12/national-debt-burden-ray-dalio-foreign-government-pressure/">to</a>&nbsp;a report by Fortune, Dalio expressed his concerns during his speech at the CONVERGE LIVE event in Singapore on Thursday.
Dalio highlighted a severe imbalance between supply and demand, noting that the debt-to-GDP ratio has reached 122%, surpassing the nation&#8217;s economic output. He warned that the U.S. might soon face difficulties selling its debt, as foreign investors like China and Japan are pulling back.
The&nbsp;Congressional Budget Office (CBO)&nbsp;projects that the debt ratio could escalate to 166% by 2054.
"We have a very severe supply and demand problem. Some people think we'll handle it because we've handled it so far. I don't think they understand the mechanics of debt," he said, according to the report.
Dalio emphasized that the U.S. will eventually need to sell debt that global markets may not be interested in purchasing, a scenario he described as &#8220;paramount importance.&#8221;
Dalio suggested that the current&nbsp;federal budget deficit of 7.2%&nbsp;of GDP is unsustainable, advocating for a reduction to around 3%.
He hinted at potential measures such as debt restructuring and political pressure on foreign governments to purchase U.S. debt.
Joao Gomes, a finance professor at Wharton Business School, echoed Dalio&#8217;s concerns, noting the declining interest from traditional debt buyers. He warned that if investors demand higher interest rates, it could lead to significant economic disruptions.
Why It Matters: Dalio&#8217;s warnings are not new, but they are increasingly urgent.
In February, he <a href="https://www.benzinga.com/markets/25/02/43756938/ray-dalio-warns-of-looming-us-debt-crisis-says-america-faces-economic-heart-attack-without-fiscal-cuts">cautioned</a> that the U.S. faces an &#8220;economic heart attack&#8221; if fiscal cuts are not made, comparing the $36 trillion national debt to plaque in the financial system&#8217;s arteries.
He emphasized the need for fiscal responsibility, urging the government to <a href="https://www.benzinga.com/25/02/43966706/ray-dalio-urges-trump-to-cut-deficits-to-3-of-gdp-within-three-years-or-let-the-economy-suffer">reduce deficits to 3% of GDP</a> within three years, or risk economic instability.
His systematic approach to understanding global economic cycles highlights debt as a critical factor, likening it to the circulatory system of financial markets.
The urgency of Dalio&#8217;s message is <a href="https://www.benzinga.com/markets/25/03/44267663/ray-dalio-warns-us-debt-crisis-could-trigger-shocking-developments-calls-to-reduce-deficit-at-3-of-gdp">underscored</a> by the potential for &#8220;shocking developments&#8221; if the U.S. does not address its debt issues promptly.
Read Next:
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<li><a href="https://www.benzinga.com/25/03/44345006/arthur-hayes-predicts-bitcoin-surge-to-250000-by-year-end-says-current-downturn-is-clearing-out-deadwood-short-te">Arthur Hayes Predicts Bitcoin Surge To $250,000 By Year-End, Says Current Downturn Is Clearing Out Deadwood: ‘Short-Term Pain'</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Economics

Ray Dalio Has A Chilling Warning For President Trump: Debt Crisis Is Imminent, And An Issue Of 'Paramount Importance'

Arthur Hayes, co-founder of&nbsp;BitMEX, has projected a significant increase in Bitcoin&#8217;s value, anticipating it will reach $250,000 by the close of the year.
What Happened:&nbsp;Hayes suggests that the current downturn in the crypto market is a temporary setback, part of a natural cycle.
In a recent interview, Hayes explained that the market is experiencing a correction after Bitcoin&#8217;s surge from $20,000 to $110,000.
"This thing is a short-term pain. We're clearing out the deadwood. We had a great run from $20,000 to $110,000 on Bitcoin, essentially FTX low until TRUMP coin, and now we got a 30% correction. It's pretty normal for a bull market," he said.
"I think we're going to clear out all that deadwood, and I still believe that we could be $250,000 Bitcoin by the end of the year."
He emphasized that such corrections are typical in bull markets and are necessary to eliminate weak elements from the market. Hayes remains optimistic about Bitcoin&#8217;s potential, despite the current 30% correction.
"From Bitcoin's perspective, and overall market capitalization of crypto, I think we're going to be much higher by the end of the year than we are today."
Hayes also highlighted the role of increased monetary supply as a catalyst for Bitcoin&#8217;s growth.
He believes that governments will continue to print money to counteract economic challenges, which will, in turn, drive up the value of digital assets.
&#8220;We&nbsp;know the response. When there's&nbsp;financial distress, they always print&nbsp;money.&#8221;
Why It Matters: The prediction by Hayes aligns with other optimistic forecasts in the crypto space. Recently,&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44317256/bitcoin-to-hit-250k-by-end-of-2025-tim-draper-predicts-will-be-the-dominant-currency-of-the-world">Tim Draper</a>, a venture capitalist known for his accurate Bitcoin predictions, reiterated his belief that Bitcoin would reach $250,000 by the end of 2025.
Draper has a history of making bold predictions, including a successful call for Bitcoin to hit $10,000 within three years back in 2014.
Additionally,&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42719735/bitcoin-could-surge-past-250000-says-tom-lee-citing-btc-halving-cycles-and-us-government-adoption">Tom Lee</a>&nbsp;of Fundstrat has also pointed to Bitcoin's halving cycles and potential government adoption as factors that could propel Bitcoin past $250,000. Lee highlights the recent halving event as a key driver, noting that Bitcoin has already demonstrated significant growth, with its market capitalization nearly doubling in 2024.
Despite the current market correction, Hayes remains confident, urging investors to be patient.
In a&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44256405/arthur-hayes-be-patient-bitcoins-36-correction-is-just-another-bull-market-move">recent post</a>, he suggested that Bitcoin could find support around $70,000, a typical retracement level during bull markets. Hayes also anticipates a major stock market crash and the failure of a key financial institution before central banks intervene with liquidity measures.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="We're Still In A Bull Cycle" width="500" height="281" src="https://www.youtube.com/embed/A4uj2G5uAug?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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Price Action: Bitcoin was trading at $84,462, up 3.2% in the past 24 hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Analyst Color

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Arthur Hayes Predicts Bitcoin Surge To $250,000 By Year-End, Says Current Downturn Is Clearing Out Deadwood: 'Short-Term Pain'

A highly secretive court hearing believed to be Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) appeal against a U.K. government demand for <a href="https://in.benzinga.com/markets/equities/25/02/43996531/tulsi-gabbard-slams-uks-apple-encryption-demand-as-egregious-violation-of-americans-privacy-warns-of-cyber-threats">backdoor access</a> to its encrypted cloud systems took place Friday in London — with the public and media barred from attending.
What Happened: The BBC and other outlets reported that the hearing, listed only as "an application in private" at the Investigatory Powers Tribunal, centered on a controversial "technical capability notice" (TCN) issued to Apple by the British government.
The TCN reportedly requires the company to weaken its <a href="https://www.benzinga.com/markets/equities/25/02/43901425/apple-bows-out-of-uks-cloud-encryption-amid-governments-backdoor-demands">end-to-end encryption</a> protections, including Advanced Data Protection for iCloud, which Apple has since disabled for new users in the UK.
Neither Apple nor the UK government has confirmed the case or the existence of the order. Top government lawyer James Eadie, KC attended the hearing, reported Reuters.
A lawyer representing 10 media organizations, including Reuters and the BBC, petitioned for the case to be held in public, but no press or public access was granted. The court acknowledged the request but did not allow further arguments before the judges.
See Also: <a href="https://www.benzinga.com/25/03/44069535/anthropic-ceo-dario-amodei-pushes-for-stronger-us-ai-safeguards-saying-autocracies-like-china-and-russia-could-use-ai-to-expand-their-power" target="_blank" rel="noreferrer noopener">Jeff Bezos-Backed Anthropic Pushes For Stronger US AI Safeguards, Saying Autocracies Like China, Russia Could Use AI To Expand Their Power</a>
Why It's Important: The closed-door nature of the hearing has drawn criticism from civil liberties groups, who say the U.K.'s demand undermines global digital privacy.
It was "unacceptable and disproportionate," said Caroline Wilson Palow, legal director at Privacy International.
Privacy advocates warn the UK's move could violate international agreements, including the CLOUD Act, and set a dangerous precedent. U.S. officials have reportedly raised concerns, with President Donald Trump <a href="https://in.benzinga.com/media/25/03/44069785/trump-blasts-uks-apple-encryption-order-warns-against-grave-privacy-violations-thats-something-you-hear-about-with-china">calling the request something</a> "you hear about in China."
Price Action: Apple&#8217;s shares ended Friday at $213.49, gaining 1.82% for the day. However, in after-hours trading, the stock dipped 0.094%. Year to date, AAPL has declined 12.45%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Legal

Apple Reportedly Fights UK Government's 'Unacceptable' Encryption Order Behind Closed Doors — No Press Or Public Allowed

NASA and&nbsp;Elon Musk-led SpaceX&nbsp;successfully launched a new&nbsp;crew to the International Space&nbsp;Station (ISS) on Friday, aiming to bring back U.S. astronauts&nbsp;Butch Wilmore and Sunita Williams, who have been on the ISS for an extended period of nine months.
What Happened: The launch occurred at 7:03 p.m. ET from NASA&#8217;s&nbsp;Kennedy Space Center in Florida. The&nbsp;SpaceX Falcon 9&nbsp;rocket carried four astronauts to replace Wilmore and Williams.
This&nbsp;mission is part of a&nbsp;crew rotation plan that was expedited due to political pressure from&nbsp;President Donald Trump&nbsp;and SpaceX CEO Musk.
The Crew-10 mission is essential for returning Wilmore and Williams to Earth. Initially, they were sent to the ISS aboard&nbsp;Boeing Co.&#8217;s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) Starliner capsule in June.
The Crew-10 team comprises NASA astronauts&nbsp;Anne McClain&nbsp;and&nbsp;Nichole Ayers, Japanese astronaut&nbsp;Takuya Onishi, and Russian cosmonaut&nbsp;Kirill Peskov.
Upon reaching orbit, McClain introduced a plush origami crane as the mission&#8217;s microgravity indicator. The Crew-10 astronauts are expected to arrive at the ISS&nbsp;on Saturday at 11:30 p.m.&nbsp;ET.
Wilmore and Williams are scheduled&nbsp;to depart with two other astronauts on Sunday.
Why It Matters: The mission <a href="https://www.benzinga.com/25/03/44296357/spacex-crew-10-astronaut-launch-to-bring-back-stuck-astronauts-delayed-due-to-hydraulics-issue-says-nasa">faced a delay</a> due to a hydraulics issue, which postponed the launch initially scheduled for Wednesday. This delay added to the challenges faced by SpaceX and NASA in the crew rotation process.
Earlier, Musk <a href="https://www.benzinga.com/general/space/25/02/43877217/spacex-ceo-elon-musk-pegs-delay-in-returning-sunita-williams-and-butch-wilmore-from-space-station-to-political-reasons">attributed</a> the delay in returning Wilmore and Williams to &#8220;political reasons,&#8221; suggesting that the return was postponed past the inauguration date of former President Joe Biden.
However, Wilmore <a href="https://www.benzinga.com/general/space/25/02/43877217/spacex-ceo-elon-musk-pegs-delay-in-returning-sunita-williams-and-butch-wilmore-from-space-station-to-political-reasons">refuted these claims</a>, stating that politics did not play a role in the delay.
The mission&#8217;s success is crucial, especially after <a href="https://www.benzinga.com/news/24/09/40758526/boeing-starliner-returns-to-earth-without-sunita-williams-and-butch-wilmore-lands-in-new-mexico-afte">Boeing's Starliner returned</a> to Earth without crew due to technical issues.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: NASA

SPACE

NASA, SpaceX One Step Closer To Bring Back Astronauts Butch Wilmore, Sunita Williams Stranded Due To Boeing's Starliner Issues: Replacement Crew Launches Successfully

Canadian retailers continue to take a stand against U.S. products, starting with non-essential items such as alcohol. This move, driven by recent tariff disputes, is affecting various segments of the agricultural supply chain.
What Happened:&nbsp;Alisa Gorokhova, a resident from Quebec, observed a rapid shift in consumer behavior following tariff announcements, according <a href="https://www.businessinsider.com/canadian-grocers-sideline-us-products-boycott-hit-us-agriculture-businesses-2025-3">to</a> a report by Business Insider.
&#8220;There&#8217;s suddenly &#8216;made in Canada&#8217;&nbsp;labels on things and American&nbsp;booze is gone from the&nbsp;shelves,&#8221; she mentioned, indicating a growing preference for Canadian-made products.
The boycott is a response to repeated tariff impositions by former President&nbsp;Donald Trump, including&nbsp;a 25% tax on Canadian&nbsp;steel and aluminum. Trump&#8217;s controversial remarks about Canada have further strained relations.
American businesses are feeling the&nbsp;impact.&nbsp;Ethan Frisch, CEO of&nbsp;Burlap &amp; Barrel, reported losing Canadian customers.
&#8220;We're&nbsp;not really sure how to&nbsp;handle this,&#8221; Frisch stated, as the boycott contradicts his company&#8217;s mission of supporting small farmers, according to the report.
See Also: <a href="https://www.benzinga.com/markets/equities/25/03/44271204/tsmc-proposes-joint-venture-with-nvidia-amd-and-broadcom-to-operate-intels-factories-report">TSMC Proposes Joint Venture With Nvidia, AMD And Broadcom To Operate Intel&#8217;s Factories: Report</a>
Large Canadian grocery chains like&nbsp;Sobeys Inc.&nbsp;and&nbsp;Metro Inc.&nbsp;are emphasizing local products. Sobeys, for instance, is working to reduce its reliance on U.S. goods, which previously accounted for 12% of sales.
Why It Matters: The trade tensions between the United States and Canada have escalated significantly.
Canada <a href="https://www.benzinga.com/news/25/03/44281882/canada-retaliates-with-20b-in-tariffs-on-us-goods-amid-trade-war">imposed 25% tariffs</a> on over $20 billion worth of U.S. goods, including steel and aluminum, as a countermeasure to the Trump administration&#8217;s new duties.
This move was confirmed by Canadian Finance Minister&nbsp;Dominic LeBlanc, who stated that the tariffs would take effect immediately. The situation intensified when Canada announced additional tariffs on $30 billion of U.S. goods earlier in March.
Further complicating matters,&nbsp;<a href="https://www.benzinga.com/25/03/44344906/canadas-retaliatory-tariffs-against-us-draw-commerce-secretary-howard-lutnicks-ire-who-thinks-they-are-tone-deaf-">Canada&#8217;s retaliatory tariffs</a>&nbsp;have drawn criticism from U.S. Commerce Secretary&nbsp;Howard Lutnick, who described them as &#8220;tone deaf.&#8221;
Meanwhile,&nbsp;<a href="https://www.benzinga.com/news/25/03/44326649/does-canada-really-have-a-250-tariff-in-place-on-us-dairy-products-imported-into-canada-here-are-the-facts">claims of high tariffs</a>&nbsp;on U.S. dairy products have added to the tension, with President Trump accusing Canada of unfair trade practices.
Additionally,&nbsp;Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp;has been affected, as its products were <a href="https://www.benzinga.com/markets/25/03/44321211/tesla-charging-stations-cut-from-rebate-program-by-canadian-province-most-people-would-support-their-removal-from-subsidy-list-says-minister">excluded from rebates</a> in British Columbia amid these trade tensions.
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44299887/tsla-stock-may-see-a-significant-upswing-says-jim-cramer-should-be-ready-to-rally-maybe-furiously">TSLA Stock May See A Significant Upswing, Says Jim Cramer: &#8216;Should Be Ready To Rally, Maybe Furiously&#8217;</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Global

Canadian Grocers Boycott US Products As Tariffs, Trump's Annexation Remarks Worsen Tensions: 'American Booze Is Gone From The Shelves'

A U.S. appeals court has permitted the Trump administration to temporarily enforce&nbsp;a ban on diversity, equity, and inclusion (DEI) programs within federal agencies and businesses holding government contracts.
What Happened: A U.S. appeals court has allowed the Trump administration to temporarily enforce&nbsp;a ban on diversity, equity, and inclusion (DEI)&nbsp;programs at federal agencies and&nbsp;businesses with government contracts.
According to&nbsp;a Reuters report, the Richmond-based&nbsp;4th U.S. Circuit Court of&nbsp;Appeals ruled on Friday that President&nbsp;Donald Trump&#8216;s directives, including an order for&nbsp;the Department of Justice to&nbsp;investigate DEI policies, are likely constitutional.
This decision overturns a previous ruling by a Maryland federal judge.
Two judges on the panel expressed disagreement with the substance of Trump&#8217;s orders, cautioning that implementing them might risk constitutional violations.
Circuit Judge Albert Diaz stated that DEI advocates deserve praise, while Circuit Judge Allison Rushing emphasized that personal opinions on DEI should not influence the case&#8217;s outcome.
The decision affected a lawsuit filed by the city of Baltimore and three groups, which remained in effect pending the Trump administration&#8217;s appeal.
The White House and Justice Department have not commented, while Democracy Forward, representing the plaintiffs, is reviewing the decision.
Trump&#8217;s orders aim to eliminate DEI initiatives, which he argues are discriminatory, from both government and private sectors.
Why It Matters: The ruling comes amid a broader political and policy shift affecting DEI initiatives.
Recently, the&nbsp;<a href="https://www.benzinga.com/25/03/44200499/national-institutes-of-health-terminates-some-research-grants-amid-political-and-policy-shift">National Institutes of Health (NIH)</a>&nbsp;began cutting funding for research grants that do not align with agency priorities, specifically targeting studies on transgender populations and DEI.
Additionally, in January, President Trump controversially linked DEI policies to a tragic&nbsp;<a href="https://www.benzinga.com/25/01/43402439/trump-musk-blame-dei-for-plane-crash-authorities-look-at-staffing-congestion-for-answers-search-continues-after-41-bodies-found">plane crash</a>&nbsp;involving an American Airlines plane and an Army helicopter, which resulted in 67 fatalities.
This incident further fueled the administration&#8217;s stance against DEI, as Trump suggested that staffing and regulatory changes influenced by DEI could have contributed to the crash.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/03/44344906/canadas-retaliatory-tariffs-against-us-draw-commerce-secretary-howard-lutnicks-ire-who-thinks-they-are-tone-deaf-">Canada's Retaliatory Tariffs Against US Draw Commerce Secretary Howard Lutnick's Ire Who Thinks They Are ‘Tone Deaf'</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Trump's Ban On DEI Programs Allowed For Now By Appeals Court

In a significant escalation of trade tensions,&nbsp;Canada&nbsp;has introduced retaliatory tariffs against the U.S., prompting criticism from&nbsp;Commerce Secretary Howard Lutnick. The move follows the Trump administration&#8217;s recent trade measures targeting Canadian exports.
What Happened: Lutnick expressed dissatisfaction with Canada&#8217;s &#8220;tone deaf&#8221; approach in an interview ahead of a meeting with Canadian officials on Thursday.
Canada&#8217;s tariffs target $15.6 billion&nbsp;worth of U.S. steel and&nbsp;aluminum, mirroring the U.S. tariffs on metals. Additionally, Canada imposed tariffs on $14.2 billion worth of other goods, including tools, computers, and sports equipment.
Lutnick criticized these measures, stating, &#8220;We&nbsp;put a tariff on steel&nbsp;and aluminum to make sure&nbsp;the dumping countries of the&nbsp;world stop&#8230;&nbsp;And what does Canada do?&nbsp;They put a tariff on&nbsp;sports equipment.&#8221;
"I mean really? This is just tone deaf," he said, according <a href="https://fortune.com/2025/03/14/commerce-secretary-howard-lutnick-canada-trump-tariff-response-mexico-uk/">to</a> Fortune.
Lutnick defended the U.S. tariffs as necessary for national security, emphasizing the importance of domestically produced materials for defense purposes.
He accused Canada of relying heavily on the U.S. for protection while contributing less to NATO, citing Canada&#8217;s 2024 contribution of $30.5 billion compared to the U.S.&#8217;s $967 billion.
Despite the tensions, Ontario Premier Doug Ford described the meeting with Lutnick as &#8220;productive&#8221; and expressed optimism about future discussions. Both countries&#8217; tariffs remain in place, but Ford praised Lutnick&#8217;s business acumen and negotiation skills.
Why It Matters: The trade tensions between the U.S. and Canada have been escalating, with Canada announcing plans to impose 25% tariffs on over $20 billion worth of U.S. goods.
This move <a href="https://www.benzinga.com/news/25/03/44281882/canada-retaliates-with-20b-in-tariffs-on-us-goods-amid-trade-war">targets</a> a wide range of products, including steel, aluminum, and sports equipment. The Canadian response is a direct counter to the U.S. tariffs on metals, which were justified by the Trump administration on national security grounds.
Elon Musk-led Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has seen its products <a href="https://www.benzinga.com/markets/25/03/44321211/tesla-charging-stations-cut-from-rebate-program-by-canadian-province-most-people-would-support-their-removal-from-subsidy-list-says-minister">excluded</a> from rebates in British Columbia, a move linked to the ongoing trade tensions.
This exclusion affects Tesla&#8217;s electric vehicle charging stations and home batteries, highlighting the broader impact of the trade dispute on various industries.
Furthermore, the dairy sector has been a point of contention, with high tariffs on U.S. dairy products being a <a href="https://www.benzinga.com/news/25/03/44326649/does-canada-really-have-a-250-tariff-in-place-on-us-dairy-products-imported-into-canada-here-are-the-facts">longstanding issue</a>. These tariffs can reach up to 298.5% when U.S. exports exceed quotas set under the United States-Mexico-Canada Agreement.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44299887/tsla-stock-may-see-a-significant-upswing-says-jim-cramer-should-be-ready-to-rally-maybe-furiously">TSLA Stock May See A Significant Upswing, Says Jim Cramer: &#8216;Should Be Ready To Rally, Maybe Furiously&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Canada's Retaliatory Tariffs Against US Draw Commerce Secretary Howard Lutnick's Ire Who Thinks They Are 'Tone Deaf:' 'The British Didn't Respond, The Mexicans Didn't Respond…'

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