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“Shot’s Fired” Elon’s 2-Word Tweet Reignites War With Bezos… AMZN Crosses $2 Trillion

By Stocks News   |   Jun 26, 2024 at 06:09 PM EST   |   Stock Market News
“Shot’s Fired” Elon’s 2-Word Tweet Reignites War With Bezos… AMZN Crosses $2 Trillion

Today's market saw as much action as my homeschool cousin on Valentine's Day—not much to write home about.

But luckily, we’ve got some pretty hot tea to spill…



In today’s issue, we’ll cover:

Amazon crossing the $2 Trillion mark…

Rivian jumping in price again for a 23% move…

And Elon’s 2-word tweet reigniting a 20-year old feud with his arch nemesis…

Before I spill the tea, here’s the heatmap.

Today’s ride on the S&P 500 was like catching a green light after a string of yellows: a modest 0.2% gain. The Dow Jones Industrial Average played it cool with a 0.04% nudge forward, while the Nasdaq stole the show with a 0.5% rise.

Let’s talk about Amazon (AMZN). The e-commerce behemoth surged nearly 4%, making history by crossing the $2 trillion market cap mark. Yes, you read that right. Trillion with a T. Jeff Bezos just leveled up in the real-life game of Monopoly.

Treasury yields also decided to stretch their legs a bit, with the 10-year yield climbing 8 basis points to hit 4.31%. Nothing too flashy, but it’s something to keep an eye on as we move forward.

The tech scene had its moments of glory today, with Nvidia (NVDA) playing it cool with a modest 0.3% rise.

Just like yesterday, Rivian (RIVN) had another spectacular day, jumping over 23% after announcing a partnership with Volkswagen that could boost its funds by up to $5 billion. 

Over at FedEx (FDX), shares popped more than 15% thanks to a rosy profit forecast for 2025.

Chipotle (CMG) made headlines too, executing a 50-for-1 stock split—the largest in NYSE history. While the burrito chain’s stock only ticked up by 0.3%, it’s now more accessible for those looking to grab a piece of the action.

Make sure you keep an eye out for how the market reacts to Trump vs. Biden debate tomorrow as well as the Fed’s upcoming PCE report Friday.

Stock.News Spikers of the Day

[AGIL] [+137.35%]

[NUBIW] [+106.35%]

[VCXAW] [+75%]

“Shot’s Fired” Elon’s 2-Word Tweet Reignites Longtime War With Bezos


(Source: Fox)

Elon Musk and Jeff Bezos, the billionaire rocket rivals, are at it once again. This time, Bezos’ Blue Origin is trying to rain on SpaceX’s parade by asking the FAA to rein in Starship’s wild launching spree from Kennedy Space Center.

Musk, never one to shy away from some twitter beef, fired back with a snappy "Sue Origin."

 

This ongoing feud is like watching two spoiled brats at your kid’s birthday party arguing over who gets the last piece of cheese pizza... it never gets old. 

Speaking of pizza, their feud goes way back to a dinner where Bezos sought Musk’s advice on space stuff. Musk, being territorial, warned Bezos against some "dumb" rocket ideas, but Bezos launched Blue Origin anyway, like he had Amazon Prime next-day delivery on his mind.

(Source: Business Today)

Now, Blue Origin’s latest move is stirring up more drama than a Tesla autopilot glitch. Musk’s quick to remind everyone that Bezos isn’t just trying to stop SpaceX—he’s replicating Elon’s moves faster than a kid copying homework five minutes before class.

 

And remember that time Musk joked about sending Bezos a statue of the number two when their billionaire rankings flipped? Yeah these guys' egos are out of control.

But this isn’t just about rocket fuel and Twitter feuds—it’s about two guys who’ve got more money than most countries duking it out for space supremacy. From lunar landers to space station slots, every move these moguls make is scrutinized like a Cybertruck reveal. And every time Musk inches ahead in the billionaire space race, Bezos pulls out Amazon-sized legal moves, to try to keep up.

Let’s not forget the irony: Bezos once tried to patent landing a rocket on a ship, a concept that’s been around longer than dial-up internet. Are you starting to notice a pattern here?

With the latest billionaire reports having Musk worth $195 billion compared to Bezos’ $194 billion, it’s very clear that Jeff is sick of playing second fiddle. But it seems like threatening legal action still has him one step behind Elon in the space race.

The Procure Space ETF (NASDAQ: UFO) closed Wednesday’s session up 1.35% at $15.76.

Stock.News has positions in Tesla and Amazon.

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