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Rani Molla

Ives: Renewed Musk-Trump beef “remains an overhang on Tesla’s stock”

The Elon Musk and Donald Trump beef that erupted last month before cooling is now back on the boiler, after President Trump responded to a series of posts from Musk criticizing his “big, beautiful bill” by threatening to sic DOGE on its former leader’s government subsidies.

Wedbush Securities analyst and Tesla bull Dan Ives said the public scuffle won’t be good for the stock, which is down 5% premarket.

“[The] situation has now turned into a soap opera that remains an overhang on Tesla’s stock with investors fearing that the Trump Administration will be more hawkish and show scrutiny around Musk related US government spending related to Tesla/SpaceX and most importantly the autonomous future with the regulatory environment key to the future of Robotaxis and Cybercabs. We would expect the stock to be weak to kick off trading this morning as the Street will show concern that the Trump and Musk once BFF relationship now backfires and turns into a junior high school friendship gone bad into an enemy.”

Ives, however, expects the two will resolve their differences again. “Musk needs Trump and Trump needs Musk given the AI Arms Race going on between the US and China,” Ives wrote. “At the end of the day being on Trump’s bad side will not turn out well... and Musk knows this and Tesla investors want this back and forth to end.”

Wedbush maintained its $500 price target and “outperform” rating for Tesla.

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Jon Keegan

Judge blocks Pentagon’s move to blacklist Anthropic

A federal judge in Northern California has granted a preliminary injunction blocking the Pentagon from labeling Anthropic as a national security supply chain risk.

The ruling temporarily prevents the Defense Department from restricting the AI company’s access to federal contracts amid a dispute over its refusal to allow certain military and surveillance uses of its technology. The designation could also have shifted lucrative government work toward competitors, including OpenAI.

Earlier this month, Anthropic, the company behind Claude, sued 17 federal agencies and their heads, alleging the government exceeded its statutory authority.

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