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CHEWY INC - CLASS A

Chewy

Chewy is the largest e-commerce petcare retailer in the US, generating $11.9 billion in fiscal 2024 sales across pet food, treats, hard goods, and pharmacy categories. The firm was founded in 2011, acquired by PetSmart in 2017, and tapped public markets as a stand-alone company in 2019 after spending a couple of years developing under the aegis of the pet superstore chain. The firm generates sales from pet food, treats, over-the-counter medications, medical prescription fulfillment, and hard goods like crates, leashes, and bowls.

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L&#39;esperto prevede un forte aumento di determinati titoli quantistici, supportato dai recenti sviluppi tecnologici.

Jim Cramer: ecco quali titoli quantistici domineranno il mercato

Chewy Inc

Jim Cramer wrote on X Wednesday that bonds will &#8220;overshoot and then settle,&#8221; predicting that a turbocharged economy could emerge from the current budget agreement despite near-term market volatility.
What Happened: &#8220;Bonds will overshoot and then settle. They will get to a level that brings in actual buyers and then we will have a turbocharged economy from that budget agreement. We just can&#8217;t believe any of that right now. But it is possible,&#8221; CNBC&#8217;s Cramer posted on X.
His comments came as Treasury yields spiked to <a href="https://www.benzinga.com/government/regulations/25/05/45550324/us-bond-market-flashing-red-30-year-yield-tops-5-prices-tank-to-october-2023-lows">multi-month highs Wednesday</a>, with the 30-year bond yield hitting 5.08% &#8211; the highest level since October 2023. The benchmark 10-year Treasury note yield traded at 4.59%, while the 2-year yield reached 4.00%.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bonds will overshoot and then settle. They will get to a level that brings in actual buyers and then we will have a turbocharged economy from that budget agreement. We just can&#39;t believe any of that right now. But it is possible.
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1925295837682315296?ref_src=twsrc%5Etfw">May 21, 2025</a></blockquote>
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The bond market selloff accelerated following a weak $16 billion 20-year Treasury auction that showed soft demand. The bid-to-cover ratio came in at 2.46, <a href="https://www.benzinga.com/government/regulations/25/05/45550324/us-bond-market-flashing-red-30-year-yield-tops-5-prices-tank-to-october-2023-lows">sitting near the bottom quartile</a> of the last 50 auctions, according to Exante Data analysis.
The yield surge triggered broad equity weakness, with the Dow Jones Industrial Average losing 816.80 points or 1.91% to 41,860.44. The S&amp;P 500 shed 1.61% to 5,844.61, while the Nasdaq Composite dropped 1.41% to 18,872.64. 
High-growth tech stocks, including NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), and Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) fell over 2.5% during the Treasury market spike.
See Also: <a href="https://www.benzinga.com/news/financing/25/05/45557031/trump-considers-taking-fannie-mae-freddie-mac-public-calls-mortgage-giants-very-profitable-says-timing-seems-right">Trump Considers Taking Fannie Mae, Freddie Mac Public, Calls Mortgage Giants &#8216;Very Profitable,&#8217; Says Timing Seems Right</a>
Why It Matters: Market participants remain focused on fiscal policy under President Donald Trump&#8216;s administration, with the proposed tax-and-spending package <a href="https://www.benzinga.com/government/regulations/25/05/45550324/us-bond-market-flashing-red-30-year-yield-tops-5-prices-tank-to-october-2023-lows">potentially slashing federal revenues</a> by $4.1 trillion through 2034, according to the Tax Foundation. 
Economist Justin Wolfers criticized the bill as &#8220;reverse Robin Hood,&#8221; while Moody&#8217;s recent sovereign debt downgrade amplified <a href="https://www.benzinga.com/25/05/45535537/trumps-budget-agenda-is-reverse-robin-hood-economics-says-justin-wolferstakes-from-working-families-gives-to-the-rich">existing fiscal sustainability concerns</a>.
&#8220;Budget deficits matter,&#8221; said veteran investor Ed Yardeni. &#8220;That&#8217;s especially so when they lead to higher interest rates, <a href="https://www.benzinga.com/government/regulations/25/05/45550324/us-bond-market-flashing-red-30-year-yield-tops-5-prices-tank-to-october-2023-lows">higher bond yields, and potentially higher inflation</a>.&#8221;
Image Via Shutterstock
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45556921/mark-zuckerberg-slams-endless-one-on-one-meetings-says-i-just-like-explode-without-open-blocks-of-time-in-the-calendar">Mark Zuckerberg Gets &#8216;Really Frustrated&#8217; And In A Bad Mood When He Can&#8217;t Do This One Thing</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Bonds

COIN

NVDA

PLTR

Jim Cramer Says Bonds Will 'Overshoot And Then Settle,' Predicts Turbocharged Economy From Budget Agreement

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Elon Musk amplified a cost-cutting move by President Donald Trump's Department of Government Efficiency (DOGE) on Wednesday, stating that the U.S. government may be wasting $100 million a year on inactive phone lines.
What Happened: In a post on X, formerly Twitter, DOGE's official handle revealed that an internal audit found 198 out of 1,048 phone lines at the U.S. Office of Personnel Management (OPM) were either unused or duplicated — roughly 19% of the total.
DOGE said canceling the lines took one hour and would save around $100,000 annually.
"Since OPM is ~0.1% of the federal government, this suggests that ~$100M/yr is wasted on unused lines," the agency wrote.
See Also: <a href="https://www.benzinga.com/media/25/05/45534314/elon-musk-just-got-grilled-on-doge-spending-hits-back-with-were-not-kings-here">Elon Musk Just Got Grilled On DOGE Spending, Hits Back With &#8216;We&#8217;re Not Kings Here&#8217;</a>
Musk, who helped lead DOGE's early initiatives but announced <a href="https://www.benzinga.com/25/05/45381782/elon-musk-vows-to-spend-less-time-in-white-house-doge-office-investors-warn-the-damage-is-done-and-teslas-troubles-are-far-from-over">plans to reduce</a> his involvement during <a href="https://www.benzinga.com/news/earnings/25/04/44937440/tesla-q1-misses-estimates-as-tariff-pressures-weigh-on-outlook-lower-cost-evs-still-on-track">Tesla's first-quarter earnings call</a>, reposted the update and added:
"Government is wasting about $100 million per year on unused phone lines!"
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Government is wasting about $100 million per year on unused phone lines! <a href="https://t.co/UZQflu9jhl">https://t.co/UZQflu9jhl</a>
&mdash; Kekius Maximus (@elonmusk) <a href="https://twitter.com/elonmusk/status/1925367674894270940?ref_src=twsrc%5Etfw">May 22, 2025</a></blockquote>
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This latest move by DOGE could impact leading telecom providers that deliver services to both residential and business customers.
Only 2% of U.S. adults use landlines exclusively, according to a 2023 <a href="https://www.washingtonpost.com/business/2023/06/23/landline-telephone-holdouts/">report</a> by The Washington Post. In 2019, the Federal Communications Commission scrapped requirements that made it compulsory to run copper wires to each home. The report noted that Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) is the dominant landline player in the Northeast of the country.
Photo courtesy: Joshua Sukoff / Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45396297/cathie-wood-dumps-palantir-as-stock-touches-peak-prices-bails-on-soaring-flying-taxi-maker-archer-aviation" target="_blank" rel="noreferrer noopener">Cathie Wood Dumps Palantir As Stock Touches Peak Prices, Bails On Soaring Flying-Taxi Maker Archer Aviation</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Government

ATUS

CHTR

CMCSA

DTEGY

FYBR

LUMN

NTTYY

ORANY

TMUS

TSLA

Elon Musk Wants The US Government To Hang Up The Phone: 'Government Is Wasting About $100 Million Per Year On Unused Phone Lines'

Satoshi Nakamoto, the pseudonymous creator of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), is now wealthier than Jensen Huang, founder and CEO of the world&#8217;s largest semiconductor firm, Nvidia.
What happened: The cryptocurrency address linked to Satoshi held about $121.80 billion worth of Bitcoin at the time of writing, according to blockchain analytics firm Arkham.
According to Forbes' Real-Time Billionaires list, Huang had an estimated wealth of $115 billion as of this writing. A few days back, Satoshi <a href="https://www.benzinga.com/markets/25/05/45393795/bill-gates-left-behind-by-satoshi-nakamoto-bitcoin-creators-wealth-now-eclipses-that-of-microsoft-co">pipped</a> Microsoft co-founder Bill Gates in personal fortune.
Had Satoshi been ranked on Forbes' list, they would be the 11th-wealthiest person on the planet.
It is collectively believed that Satoshi owns roughly 1.1 million Bitcoin, making them the largest BTC whale.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/05/45511186/coinbase-says-justice-department-has-launched-probe-into-its-recent-cyberattack">Coinbase Says DOJ Probing Latest Attack On Its Platform, Clarifies Its Not The &#8216;Subject&#8217; Of The Investigation</a>
Why It Matters: Nakamoto's true identity <a href="https://www.benzinga.com/money/who-is-satoshi-nakamoto">has been a subject of intense speculation</a> since the inception of Bitcoin in 2009. Various figures, including Bitcoin Core developers Peter Todd, Len Sassaman, and Nick Szabo have been linked to the mysterious personality over the years.
The surge in Satoshi's wealth follows a <a href="https://www.benzinga.com/25/05/45556607/bitcoin-clocks-110000-ethereum-dogecoin-extend-gains-experienced-trader-peter-brandt-speculates-btc-to-enter-this-range-by-august-end">spectacular Bitcoin rally</a> that has sent the world's largest cryptocurrency past its previous highs. The asset's market capitalization <a href="https://www.benzinga.com/25/05/45556899/from-amazon-to-warren-buffetts-berkshire-hathawaybitcoin-is-now-bigger-than-these-wall-street-titans">has surpassed</a> many Wall Street giants, including Amazon and Google's parent company, Alphabet.
Price Action:&nbsp; At the time of writing, BTC was exchanging hands at $111,774.17. up 4.66% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Photo Courtesy: Szabolcs Magyar On Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45512252/want-a-tesla-cybertruck-geminis-new-bitcoin-credit-card-could-be-your-ticket">Want A Tesla Cybertruck? Gemini&#8217;s New Bitcoin Credit Card Could Be Your Ticket</a></li>
</ul>

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

Cryptocurrency

$BTC

Bitcoin's $111,000 Move Puts Satoshi Nakamoto Above Nvidia's Jensen Huang In Personal Wealth - Where Would The Mysterious Crypto Founder Rank Among Global Billionaires?

Alex Konanykhin, CEO of cryptocurrency company Unicoin, denounced the Securities and Exchange Commission lawsuit against his company on Wednesday, calling the allegations &#8220;blatantly false.&#8221;
What Happened: In a LinkedIn post, Konanykhin <a href="https://www.linkedin.com/posts/konanykhin_last-night-the-sec-launched-a-lawsuit-against-activity-7331039366309412866-6Cm8/">expressed </a>shock and disappointment over the regulator&#8217;s legal action. 
&#8220;This attack came when we believed a brighter future for cryptocurrency was emerging. Just a day before, SEC Commissioner Peirce, the Chair of its Crypto Task Force, said that such coins should not be regulated by the SEC,&#8221; he said.
In the speech referred to by Konanykhin, Hester Peirce <a href="https://www.sec.gov/newsroom/speeches-statements/peirce-remarks-sec-speaks-051925">stated </a>that &#8220;most&#8221; cryptocurrencies were not securities according to her understanding.
&#8220;The SEC&#8217;s allegations are blatantly false. We intend to prove in court that they constitute yet another case of gross abuse of power,&#8221; Konanykhin said.
See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/05/45489390/crypto-traders-who-secured-a-dinner-with-donald-trump-walked-away-with-major-profits-says-analysis" target="_blank" rel="noreferrer noopener">Crypto Traders Who Secured A Dinner With Donald Trump Walked Away With Major Profits, Says Analysis &#8211; Benzinga</a>
Konanykhin further defended Unicoin, stating it is &#8220;the most compliant cryptocurrency company&nbsp;in the country,&#8221; and the only one&nbsp;with years of audited financials&nbsp;and detailed SEC reports. He vowed to fight the allegations, stating that the SEC&#8217;s actions have&nbsp;caused multi-billion-dollar damages to Unicoin&nbsp;investors.
Konanykhin&#8217;s defense comes a day after the SEC filed fraud charges against the New York-based company and its top executives, including the Unicoin CEO, for deceiving investors and raising more than $100 million. In addition, the firm was accused of violating federal securities laws by engaging in unregistered offers and sales of rights certificates.
Photo Courtesy: JRdes on Shutterstock.com
Unicoin was the title sponsor for Benzinga&#8217;s 2023 Fintech Deal Days&nbsp;and Future of Digital Assets Event.
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://benzinga.com/markets/cryptocurrency/25/05/45536067/michael-saylor-uses-dmc-delorean-back-to-the-future-reference-to-promote-bitcoinshiba-inu-joins-in" target="_blank" rel="noreferrer noopener">Michael Saylor Drops &#8216;Back To The Future&#8217; Reference To Promote Bitcoin, Shiba Inu Flaunts Its Own DeLorean Links</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.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

Regulations

Unicoin CEO Alex Konanykhin Calls SEC Fraud Charges 'Blatantly False,' Vows To Fight In Court

President Donald Trump announced Wednesday he is giving &#8220;very serious consideration&#8221; to taking mortgage finance giants Fannie Mae and Freddie Mac&nbsp;public, signaling potential privatization of the government-sponsored enterprises.
What Happened: In a Truth Social post, Trump said he will consult with Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Federal Housing Finance Agency Director William Pulte before making a decision. &#8220;Fannie Mae and Freddie Mac are doing very well, throwing off a lot of CASH, and the time would seem to be right,&#8221; Trump stated.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://t.co/kJK33mcTh3">pic.twitter.com/kJK33mcTh3</a>
&mdash; U.S. Federal Housing (FHFA) (@FHFA) <a href="https://twitter.com/FHFA/status/1925335513386324136?ref_src=twsrc%5Etfw">May 21, 2025</a></blockquote>
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The mortgage giants, which underpin approximately half of the U.S. residential mortgage market, have generated substantial cash flows since their 2008 conservatorship, according to Reuters. Both companies operate as for-profit corporations with private shareholders, purchasing home loans from private lenders and repackaging them as mortgage-backed securities.
See Also: <a href="https://www.benzinga.com/news/earnings/25/05/45553121/snowflake-q1-earnings-revenue-eps-beat-estimates-ai-data-cloud-company-sees-25-growth-ahead-shares-climb">Snowflake Q1 Earnings: Revenue, EPS Beat Estimates, AI Data Cloud Company Sees 25% Growth Ahead, Shares Climb</a>
Why It Matters: Fannie Mae and Freddie Mac were placed under Federal Housing Finance Agency conservatorship during the 2008 financial crisis after suffering overwhelming losses from the housing market collapse. The government intervention prevented catastrophic economic effects but maintained federal control over the entities.
FHFA Director Bill Pulte recently fired Freddie Mac CEO Diana Reid and placed senior FHFA officials on administrative leave. Pulte also dismissed 14 board members from both companies and <a href="https://www.benzinga.com/politics/25/03/44436692/fannie-mae-freddie-mac-in-upheaval-as-trump-administration-considers-privatizing-mortgage-giants">appointed himself chairman of both entities</a>.
Billionaire investor Bill Ackman of Pershing Square Capital Management has <a href="https://www.benzinga.com/general/social-media/24/12/42734220/bill-ackman-sends-fannie-mae-freddie-mac-stocks-soaring-trump-likes-big-deals">recommended both companies as investments</a>, stating in December that he expects them to exit conservatorship under the Trump administration. &#8220;Trump likes big deals and this would be the biggest deal in history,&#8221; Ackman wrote.
Image Via Shutterstock
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45550679/treasury-yields-top-5-these-20-stocks-tanked-in-just-one-hour">Treasury Yields Top 5%: These 20 Stocks Tanked In Just One Hour</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Financing

FMCC

FNMA

Trump Considers Taking Fannie Mae, Freddie Mac Public, Calls Mortgage Giants 'Very Profitable,' Says Timing Seems Right

Mark Zuckerberg says the secret of his calendar management is leaving it empty, and not packing it tight. "I try to generally keep a bunch of time open," the Meta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) chief told Stripe co-founder John Collison, adding that over-scheduling drives him "in a bad mood … I just like explode."
What Happened: Speaking to Collison at a recent fireside chat, Zuckerberg scrapped recurring one-on-one meetings — "I talk to all these people constantly, more than they want to talk to me," he joked — because every day's priorities change and he wants blocks to chase the top three tasks that pop up each morning.
"I get really frustrated and in a bad mood if my whole day is scheduled and there's a thing that I know is really important and I don't get time to do it because I'm sitting in other things that are not the most important thing to be doing," he tells Collison.
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His self-styled flexibility mirrors the "80 Percent Rule," a Google productivity mantra that advises leaders to book only 80% of the workday and leave the rest for surprises. Productivity coach Laura Mae Martin <a href="https://hbr.org/podcast/2024/04/treat-email-like-laundry-and-other-tips-from-googles-productivity-expert">says</a> leaders who "shoot to under-commit" hit the right workload sweet spot and avoid burnout.
See also: <a href="https://www.benzinga.com/politics/25/05/45537630/trump-claimed-qatar-gifted-him-a-400-million-jet-but-insiders-say-the-us-initiated-the-deal">Trump Said Qatar Gifted Him A $400 Million Jet, But Insiders Say The US Initiated The Deal</a>
Zuckerberg echoed that rationale: leaving "a meaningful amount of your time open" lets him pounce on high-impact issues without delaying decisions.
The Growing Anti-Meeting Club: Zuckerberg now joins at least four other big-name bosses who shun standing check-ins. According to a CNBC <a href="https://www.cnbc.com/2018/04/18/elon-musks-productivity-rules-according-to-tesla-email.html">report</a> from 2018, Tesla's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Elon Musk told staff to "walk out of a meeting" that adds no value, pressing for fewer, shorter gatherings. Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) founder Jeff Bezos enforces the "<a href="https://www.benzinga.com/general/psychology/24/12/42521026/jeff-bezos-prefers-messy-meetings-be-part-of-the-sausage-making-process?utm_source=chatgpt.com">two-pizza rule</a>," capping any session at the number of people two pizzas can feed.
Nvidia's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) Jensen Huang "prefers not to schedule one-on-one meetings," <a href="https://www.benzinga.com/startups/24/10/41383474/nvidia-ceo-jensen-huang-says-his-day-is-a-success-before-he-even-starts-work-he-explains-why-hes-nev">keeping himself available</a> on demand instead. Airbnb's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>) Brian Chesky has <a href="https://www.benzinga.com/news/management/25/05/45463946/airbnb-ceo-brian-chesky-reveals-why-he-doesnt-do-emails-and-early-morning-meetings-says-silicon-valley-founders-dont-need-to-be-miserable">banned internal email</a> and blocks all meetings before 10 am to curb "grind culture."
Photo Courtesy: Harmony Video Production on Shutterstock.com
Read next: <a href="https://www.benzinga.com/markets/equities/25/05/45537159/gary-black-compares-ubers-shift-to-driverless-cars-with-netflixs-2007-move-from-dvds-to-streaming-says-tesla-faithful-are-missing-the-bigger-picture">Gary Black Compares Uber&#8217;s Shift To Driverless Cars With Netflix&#8217;s 2007 Move From DVDs To Streaming, Says Tesla &#8216;Faithful&#8217; Are Missing The Bigger Picture</a>

General

ABNB

AMZN

Mark Zuckerberg Gets 'Really Frustrated' And In A Bad Mood When He Can't Do This One Thing

Bitcoin overtook several Wall Street behemoths Wednesday to become the fifth-largest asset by market capitalization.
What happened: The leading cryptocurrency broke its all-time high, helped by a <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45517785/bitcoin-to-hit-500000-by-2028-standard-chartered-says-as-etfs-buy-667m-on-monday">growing wave of institutional inflows</a> and <a href="https://www.benzinga.com/25/05/45535042/recession-odds-tumble-on-kalshi-crypto-based-polymarket-as-trumps-tariff-concerns-subside">improved sentiment</a> around tariffs.
The rally pushed Bitcoin's market capitalization to $2.183 trillion, higher than some of the largest technology companies on the planet.
As seen from the table below, Bitcoin was more valuable than Amazon, Google&#8217;s parent company Alphabet, Facebook's parent company Meta Platforms and the electric vehicle juggernaut Tesla, all of which are part of the high-performing &#8220;Magnificent 7&#8221; cohort.
The leading cryptocurrency has also outperformed Saudi Aramco, the world&#8217;s largest oil producer and most valuable energy company.
Additionally, Bitcoin's valuation was nearly double that of Warren Buffett's multinational holding company Berkshire Hathaway 
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<table class="has-fixed-layout">
<tbody>
<tr>
<td>Asset</td>
<td>Market Capitalization</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>$2.183 trillion</td>
</tr>
<tr>
<td>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</td>
<td>$2.135 trillion</td>
</tr>
<tr>
<td>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)</td>
<td>$2.054 trillion</td>
</tr>
<tr>
<td>Saudi Aramco</td>
<td>$1.683 trillion</td>
</tr>
<tr>
<td>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td>
<td>$1.597 trillion</td>
</tr>
<tr>
<td>Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)</td>
<td>$1.093 trillion</td>
</tr>
<tr>
<td>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td>
<td>$1.077 trillion</td>
</tr>
</tbody>
</table>
</figure>
Bitcoin was only surpassed by gold, which had a staggering $22.34 trillion capitalization, and the other Mag 7 firms, which included NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/05/45511186/coinbase-says-justice-department-has-launched-probe-into-its-recent-cyberattack">Coinbase Says DOJ Probing Latest Attack On Its Platform, Clarifies Its Not The &#8216;Subject&#8217; Of The Investigation</a>
Price Action:&nbsp; At the time of writing, BTC was exchanging hands at $110,216.25, up 7.30% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Over the last year, the coin has gained over 57%.
The&nbsp;Roundhill Magnificent Seven ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#BATS">MAGS</a>), which offers exposure to the Mag 7 stocks, closed 1.10% lower at $51.42 during Wednesday&#8217;s regular session.
The ETF demonstrated a moderately high momentum score—a measure of the stock's relative strength based on its price movement patterns and volatility over multiple timeframes—as of this writing. If you are seeking similar high-momentum stocks for your portfolio, check out <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a> for more details.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="730" height="193" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/21223126/Screenshot-2025-05-22-080108.png" alt="" class="wp-image-923687" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/21223126/Screenshot-2025-05-22-080108.png 730w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/21223126/Screenshot-2025-05-22-080108-300x79.png 300w" sizes="(max-width: 730px) 100vw, 730px" /></a></figure>
Photo Courtesy: Yalcin Sonat on Shutterstock.com
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AAPL

GOOGL

MAGS

MSFT

From Warren Buffett's Berkshire Hathaway To Jeff Bezos' Amazon — Bitcoin Is Now Outshining These Wall Street Titans

On Wednesday, Donald Trump's AI and crypto czar, David Sacks, backed the President's high-profile confrontations with global leaders, praising his <a href="https://www.benzinga.com/25/05/45556089/trump-gives-south-african-president-the-zelenskyy-treatment-hits-cyril-ramaphosa-with-controversial-genocide-claims">Oval Office exchange</a> with South African President Cyril Ramaphosa.
What Happened: In a post on X, formerly Twitter, Sacks shared a video of the exchange, saying, "There is literally nothing better than President Trump calling out foreign leaders at the White House."
"Zelensky didn't have the cards. Ramaphosa is playing dumb about genocide. President Trump brings the receipts," he added.
See Also:&nbsp;<a href="https://www.benzinga.com/news/25/05/45536187/dan-ives-calls-teslas-austin-robotaxi-launch-a-watershed-moment-maintains-bullish-views-on-tesla" target="_blank" rel="noreferrer noopener">Dan Ives Calls Tesla's Austin Robotaxi Launch A ‘Watershed Moment,' Maintains Bullish Views On Tesla</a>
<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">There is literally nothing better than President Trump calling out foreign leaders at the White House. Zelensky didn't have the cards. Ramaphosa is playing dumb about genocide. President Trump brings the receipts. <a href="https://t.co/BZwSFhqLtt">pic.twitter.com/BZwSFhqLtt</a>
&mdash; David Sacks (@DavidSacks) <a href="https://twitter.com/DavidSacks/status/1925244138045186309?ref_src=twsrc%5Etfw">May 21, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Trump confronted Ramaphosa over allegations of violence against white farmers in South Africa. He showed a video of Black politicians allegedly chanting anti-apartheid slogans, ending with imagery of white crosses, which he claimed represented murdered white farmers.
Ramaphosa questioned the credibility of the video, while Afrikaner billionaire Johann Rupert, present at the meeting, pointed out that violence affects all South Africans, not just white farmers.
A footage from the meeting showing Tesla and SpaceX CEO Elon Musk intensely watching Ramaphosa has also quickly gone viral.
<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">Elon Musk's piercing stare has captured the internet's attention — his eyes say it all. END RACISM IN SOUTH AFRICA! <a href="https://t.co/BrELCausQB">pic.twitter.com/BrELCausQB</a>
&mdash; Africalix (@Africa_lix) <a href="https://twitter.com/Africa_lix/status/1925305350665720009?ref_src=twsrc%5Etfw">May 21, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It's Important: Sacks, a South Africa-born tech investor and former PayPal Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) executive, was appointed Trump's AI and crypto czar in December 2024. He holds dual citizenship in the U.S. and South Africa.
Musk, who was also born in South Africa, holds citizenship from South Africa, the U.S. and Canada.
Earlier this year, during an Oval Office meeting, <a href="https://www.benzinga.com/25/03/44064817/zelenskyy-says-not-sure-he-did-something-bad-after-public-spat-with-trump-jd-vance-we-have-to-be-very-honest-and-direct">Trump also criticized Ukrainian</a> President Volodymyr Zelenskyy for not showing appreciation and accused him of lacking readiness for peace negotiations.
Meanwhile, on Wednesday, it was also reported that South Africa may offer <a href="https://www.benzinga.com/news/global/25/05/45537805/musks-starlink-could-sidestep-south-african-equity-rules-under-deal-aimed-at-calming-relations-ahead-of-trump-meeting-report">Musk a regulatory workaround</a> for Starlink as a diplomatic gesture. South African officials were reportedly scheduled to meet Musk or his team on Tuesday night to ease tensions before Ramaphosa's White House visit.
Photo Courtesy: Alexandros Michailidis On Shutterstock.com
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

PYPL

Trump's AI Czar Says Cyril Ramaphosa Is 'Playing Dumb About Genocide,' Credits US President For Bringing 'The Receipts' Amid Elon Musk's Icy Glare

In a volatile trading session on Wednesday, the S&amp;P 500 and Nasdaq indices faced downward pressure as <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45550679/treasury-yields-top-5-these-20-stocks-tanked-in-just-one-hour">Treasury yields spiked above 5%</a>. This surge in yields led to a broad selloff, particularly impacting high-growth and tech stocks. The S&amp;P 500 fell by 1.6% to 5,844.61, while the Nasdaq dropped by 1.4% to 18,872.64. The Dow Jones Industrial Average declined by 1.9% to 41,860.44.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
UnitedHealth Group Incorporated&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>)
UnitedHealth&#8217;s shares dropped 5.78% to close at $302.98. The stock hit an intraday high of $309.96 and a low of $300.07, with a 52-week range of $630.73 to $248.88. In the after-hours session, the stock declined 3.1% to $293.50. HSBC analyst Sidharth Sahoo <a href="https://www.benzinga.com/25/05/45542169/this-unitedhealth-group-analyst-turns-bearish-here-are-top-3-downgrades-for-wednesday">downgraded UnitedHealth</a> Group from Hold to Reduce and slashed the price target from $490 to $270.
Snowflake Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>)
Snowflake shares fell 2.06% to $179.12, with a high of $184.09 and a low of $178.91. The stock&#8217;s 52-week range is $194.40 to $107.13. Snowflake stock spiked over 7% to $192.30 in after-hours trading as the company reported <a href="https://www.benzinga.com/news/earnings/25/05/45553121/snowflake-q1-earnings-revenue-eps-beat-estimates-ai-data-cloud-company-sees-25-growth-ahead-shares-climb">better-than-expected first-quarter earnings</a>, with revenue of $1.04 billion and adjusted earnings of 24 cents per share.
Navitas Semiconductor Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVTS#NASDAQ">NVTS</a>)
Navitas Semiconductor saw its stock decline by 4.50%, closing at $1.91. The day&#8217;s high was $2.06, and the low was $1.88, with a 52-week range of $5.14 to $1.52. Navitas shares spiked as much as 188% to $5.50 in the after-hours trading. The company announced a <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45554132/navitas-semiconductor-shares-soar-on-nvidia-collaboration">collaboration with NVIDIA</a> on next-generation architecture, which initially boosted the stock. 
Nike, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>)
Nike&#8217;s stock decreased by 4.12% to $59.98, reaching a high of $61.76 and a low of $59.88. The 52-week range stands at $98.04 to $52.28. Nike stock gained 1.7% in the after-hours traidng. The decline came despite news of Nike <a href="https://www.benzinga.com/news/contracts/25/05/45555035/nike-stock-sprints-higher-after-hours-as-retailer-returns-to-amazon-report">returning to sell</a> on Amazon after a six-year hiatus.
Target Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>)
Target shares fell 5.21% to $93.01, with an intraday high of $95.31 and a low of $90.60. The stock&#8217;s 52-week range is $167.40 to $87.35. The company <a href="https://www.benzinga.com/25/05/45548732/target-under-strain-analyst-cautions-on-inventory-margins-amid-dei-and-tariff-issues">reported first-quarter sales</a> of $23.85 billion, missing analyst expectations. The retailer lowered its guidance for the financial year 2025 from the $8.80-$9.80 range to the $7 to $9 range.
Benzinga Edge Stock Rankings shows Nike checks out in terms of price trend in the short term, <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">find out</a> how it ranks on other metrics.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="443" height="278" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/21213507/Screenshot-2025-05-22-at-10.34.52.png" alt="" class="wp-image-923655" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/21213507/Screenshot-2025-05-22-at-10.34.52.png 443w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/21213507/Screenshot-2025-05-22-at-10.34.52-300x188.png 300w" sizes="(max-width: 443px) 100vw, 443px" /></a></figure>
Photo Courtesy: Tada Images On Shutterstock.com
Prepare for the day&#8217;s trading&nbsp;<a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a>&nbsp;by Benzinga.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

NVTS

SNOW

Unitedhealth, Snowflake, Navitas, Nike, And Target: Why These 5 Stocks Are On Investors' Radars Today

Former Treasury Secretary Larry Summers issued a stark warning to President Donald Trump, urging the latter to retreat on the taxes, as he did with the tariffs.
What Happened: On Wednesday, in a post on X, Summers said the &#8220;country risk trade is back,&#8221; citing simultaneous selloffs in U.S. bonds, equities and the dollar as a sign of rising economic fragility. 
&#8220;A few more days like today and recession will be likely,&#8221; Summers says, while adding that the probability of a &#8220;financial accident&#8221; is also climbing, referring to potential blow-ups in banks, hedge funds, and financial institutions that could cause liquidity to dry up, further exacerbating the crisis.
See Also: <a href="https://www.benzinga.com/news/management/25/05/45551594/amazon-ceo-andy-jassy-no-slowdown-in-consumer-spending-amid-tariffs">Amazon CEO Andy Jassy: No Slowdown In Consumer Spending Amid Tariffs</a>
Summers called on Trump to reconsider his proposed tax agenda, drawing parallels to Trump's recent tariff shift. &#8220;President Donald Trump needs to retreat on taxes just as he did on tariffs,&#8221; Summers says, referring to his walk-back on the aggressive tariff proposals following political and market backlash in recent weeks.
<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">The U.S. country risk trade is back as bonds, stocks and the dollar all fell sharply today. A few more days like today and recession will be likely. And financial accident risk is rising as well. President <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> needs to retreat on taxes just as he did on tariffs.
&mdash; Lawrence H. Summers (@LHSummers) <a href="https://twitter.com/LHSummers/status/1925343683232088098?ref_src=twsrc%5Etfw">May 22, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
As U.S. Treasury Yields spiked on Wednesday, with 30-Year Treasuries hitting 5.09%, the highest level since 2023, equity markets witnessed a steep decline, with the Dow Jones Industrial Average down 816.80 points, or 1.91%, the S&amp;P 500 dropping 1.61%, and the Nasdaq Composite index down 1.41%.
The U.S. Dollar Index (DXY) dipped below the 100 level on Wednesday and is currently trading at 99.548, marking its third consecutive day of losses.
Why It Matters: Early this week, Summers warned that the U.S. was at <a href="https://benzinga.com/25/05/45484394/gold-hits-3500-as-larry-summers-says-u-s-market-is-on-a-path-to-crisis-like-uks-2022-meltdown">risk of a fiscal crisis</a> similar to the meltdown in the U.K. in 2022, calling it a &#8220;Liz Truss moment,&#8221; referring to the former British Prime Minister who was ousted soon after the crisis.
&#8220;We're on a path towards having an episode like that. I think it will be very costly for our economy, and for the global economy,&#8221; he said. 
Summers, a Clinton-era Treasury Secretary, said last week that it was Trump who <a href="https://www.benzinga.com/markets/25/05/45423748/trump-blinked-on-china-tariffs-says-ex-treasury-secretary-larry-summers-sometimes-its-good-to-blink">blinked on the tariffs</a>, and despite being a vocal critic of this administration, he lauded the move, saying that &#8220;sometimes it&#8217;s good to blink.&#8221;
Photo Courtesy: Dilok Klaisataporn On Shutterstock.com
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</ul>

Larry Summers Asks Trump To 'Retreat' On Taxes Just Like He Did On Tariffs: 'Few More Days Like This And Recession Will Be Likely'

Major cryptocurrencies rode the wave of Bitcoin's fresh all-time highs on Wednesday, gaining momentum alongside the top coin by market capitalization.
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:45 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+2.55%</td>
<td>$109,618.48</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+1.58%</td>
<td>$2,572.12</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+4.97%</td>
<td>$0.2375</td>
</tr>
</tbody>
</table>
</figure>
What Happened: The leading cryptocurrency broke $110,000 overnight, hours after officially bettering its previous high of $109,241 set on President Donald Trump's inauguration day. Bitcoin's trading volume spiked 136% over the last 24 hours.
The rally rubbed off on Ethereum as the second-largest cryptocurrency reentered the $2,600 region, with volumes surging by 51%.
Ethereum's dominance increased to 9%, while Bitcoin's market share narrowed marginally to 63.2%
Over $232 million in bearish shorts were erased in the last 24 hours, out of the total liquidations worth nearly $403 million.
Moreover, about $713 million in Bitcoin shorts were at further risk of liquidation if the leading cryptocurrency advanced to $112,000.
Bitcoin&#8217;s Open Interest soared 16.73% in the last 24 hours to a new record of $78.89 billion, suggesting heightened speculative interest. Over 50% of derivatives traders with open BTC positions bet in favor of BTC as of this writing.
The market retained the "Greed" sentiment, according to the Crypto Fear and Greed Index, indicating high buying interest.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:45 p.m. ET)</td>
</tr>
<tr>
<td>dogwifhat (WIF)</td>
<td>+12.19%</td>
<td>$1.11</td>
</tr>
<tr>
<td>Monero (XMR)</td>
<td>+11.64%</td>
<td>$391.35</td>
</tr>
<tr>
<td>Core (CORE)</td>
<td>+11.42%</td>
<td>$0.8544</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.41 trillion, following an increase of 1.93% in the last 24 hours.
Stocks sank further on Wednesday. The Dow Jones Industrial Average fell 816.80 points, or 1.91%, to end at 41,860.44. The S&amp;P 500 slid 1.61% to close at 5,844.61, while the tech-focused Nasdaq Composite dipped 1.41% to end at 18,872.64.
The sell-offs came after long-dated U.S. Treasuries <a href="https://www.benzinga.com/government/regulations/25/05/45550324/us-bond-market-flashing-red-30-year-yield-tops-5-prices-tank-to-october-2023-lows">tumbled to their lowest levels</a> since October 2023, fueled by a weaker-than-expected bond auction and increasing deficit fears tied to Trump's proposed tax-cut plan.&nbsp;
The 30-year Treasury yield jumped above 5.08%, while the benchmark 10-year yield hit 4.61%.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Seasoned trader Peter Brandt described Bitcoin making a new high as &#8220;wonderful&#8221; and stated he was long.
"Bull markets make ATHs all the time. It is the definition of a bull market. On track maybe for top of $125,000 to $150,000 by end of August," Brandt speculated.
<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">I think it is wonderful Bitcoin is making ATHs. I am long. I actually think ATHs is not technically significant Bull markets make ATHs all the time. It is the definition of a bull market On track maybe for top of $125,000 to $150,000 by end of August???? (Hey trolls, note the… <a href="https://t.co/8PDatXYGP2">pic.twitter.com/8PDatXYGP2</a>
&mdash; Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1925207233492869218?ref_src=twsrc%5Etfw">May 21, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Cryptocurrency analyst and trader Ali Martinez said BTC was entering a price discovery phase, with $116,000, $126,000, $136,000 and $148,000 being the "next key levels" to watch out.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is trading at new all-time highs, entering price discovery. The next key levels to watch are $116,000, $126,000, $136,000, and $148,000! <a href="https://t.co/yh3ShJ5X59">pic.twitter.com/yh3ShJ5X59</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1925316673911083149?ref_src=twsrc%5Etfw">May 21, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo Courtesy: alfernec on Shutterstock.com
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45541858/germany-sold-50000-bitcoin-below-60000-heres-how-much-it-missed-out-on">Germany Sold 50,000 Bitcoin Below $60,000: Here&#8217;s How Much It Missed Out On</a></li>
</ul>

Movers

$DOGE

$ETH

Bitcoin Clocks $110,000, Ethereum, Dogecoin Extend Gains: Well-Known Trader Peter Brandt Says BTC Could Gain Another 37% As Soon As August

Long before Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) became a trillion-dollar giant, Jeff Bezos shrugged off <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/01/36606013/happy-60th-birthday-jeff-bezos-the-billionaire-survived-the-dot-com-bubble-burst-what-if">internet hype and leaned hard</a> into customer obsession—even as critics questioned his company's razor-thin margins and relentless expansion.
What Happened: In a 1999 interview with CNBC during the height of the <a href="https://www.benzinga.com/markets/equities/24/08/40178601/global-market-crash-sparks-reflection-on-jeff-bezos-2000-dotcom-comments-after-amazons-80-plunge">dot-com boom</a>, the Amazon founder offered a candid view of his company's strategy and why customer satisfaction, not internet buzz, was Amazon's true north.
"It doesn't matter to me whether we're a pure internet play," Bezos said. "What matters to me is: do we provide the best customer service. Internet, shminternet … That doesn't matter."
At the time, Amazon was a fast-growing <a href="https://www.benzinga.com/news/25/01/42935158/whats-the-internet-jeff-bezos-faced-clueless-investors-before-launching-amazon-had-to-give-up-20-of-the-company-for-only-1-million">online bookstore expanding</a> into new verticals like electronics and toys, all while facing skepticism from investors about profitability and sustainability.
See Also:&nbsp;<a href="https://www.benzinga.com/tech/25/05/45484235/facebook-vs-orkut-one-became-meta-with-a-1-6-trillion-market-cap-the-other-was-shut-down-by-google-heres-why" target="_blank" rel="noreferrer noopener">Facebook Vs. Orkut: One Became Meta With A $1.6 Trillion Market Cap, The Other Was Shut Down By Google: Here's Why</a>
Bezos acknowledged the challenges but maintained that customer experience would define the company's long-term value.
"There's no guarantee that Amazon.com can be a successful company. What we're trying to do is very complicated," he admitted. "There's huge execution risk involved."
Bezos was especially adamant about aligning customer and shareholder interests. "In the long term, there is never any misalignment between customer interests and shareholder interests," he said.
When asked if that's a statement even Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) could make, he replied, "I think they should make that argument. It's the correct argument."
Bezos also rejected the idea that Amazon's growth, marked by sprawling warehouses and thousands of employees, was an expensive gamble. Compared to opening an equivalent network of retail stores, Amazon's distribution centers are not the same, he stated.
"You can't compare a big chain of retail stores to half a dozen distribution centers," he told the interviewer, "It's bad math."
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.
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Why It's Important: Bezos' early insistence on customer-centricity helped Amazon weather the brutal dot-com crash of the early 2000s, which wiped out competitors like Pets.com and Webvan.
Despite Amazon's stock plunging from $113 to just $6 in less than a year, the company survived—thanks to what CNBC later <a href="https://www.cnbc.com/2018/12/18/dotcom-bubble-amazon-stock-lost-more-than-90percent-long-term-investors-still-got-rich.html">described</a> as "shrewd management and a lucky last-minute infusion of capital."
After branching out beyond books in 1998, Amazon reportedly first turned a profit in the final quarter of 2001, following a strong holiday shopping season.
From there, 2003 marked its first full year of profitability. Net income rose sharply from $3 million in the fourth-quarter of 2002 to $73 million in the same period in 2003, resulting in a total annual profit of $35 million—an impressive recovery from a $149 million loss the year before, <a href="https://sites.lsa.umich.edu/mje/2023/05/01/the-history-of-amazon-and-its-rise-to-success/">according</a> to the Michigan Journal of Economics which cited reports from ABC and the New York Times.
Today, with Amazon operating everything from cloud services to logistics and groceries, Bezos' 1999 vision, centered not on buzzwords but on customers, appears remarkably prescient. The company currently has a market capitalization of $2.16 trillion, whereas Walmart has a market capitalization of $782.48 billion.
Based on Benzinga Edge Stock Rankings, AMZN showed solid price performance over short and long-term periods. It ranked in the 66th percentile for momentum and the 91st percentile for growth. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">More details on these metrics are available here</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/21045411/Screenshot-2025-05-21-at-2.23.15%E2%80%AFPM.png" alt="" class="wp-image-922433" /></a></figure>
Photo Courtesy: Lev Radin on Shutterstock.com
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>.
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Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.

Jeff Bezos At Peak Dot-Com Hype Identified A Winning Strategy That Made Amazon Into A 2 Trillion Success Story Today: 'Internet, Shminternet … That Doesn't Matter'

In a recent Oval Office on Wednesday, President Donald Trump engaged in a contentious discussion with South African President Cyril Ramaphosa over allegations concerning the treatment of white farmers in South Africa. The meeting, marked by dramatic exchanges, involved Trump presenting a video that he claimed demonstrated the persecution of white farmers.
What Happened: During the meeting, Trump displayed a video featuring Black politicians chanting anti-apartheid slogans, asserting that it highlighted the plight of white farmers, <a href="https://apnews.com/article/trump-south-africa-oval-office-drama-0080e7c7288860bd0511b8cc4efd06f6">reported</a> the Associated Press. However, none of the politicians in the video were part of Ramaphosa's government, and many have dismissed the comments as not being literal. The video ended with images of white crosses, which Trump claimed represented murdered white farmers.
&#8220;It's a terrible sight. I've never seen anything like it,&#8221; said Trump about the video.
Ramaphosa questioned the video&#8217;s credibility and engaged in a discussion with Trump, accompanied by his delegation, including pro golfers Ernie Els and Retief Goosen, and Afrikaner tycoon Johann Rupert. Rupert pointed out the broader violence issues in South Africa, noting, &#8220;It's not only white farmers.&#8221;
The meeting briefly shifted focus when Trump addressed a question about a Boeing 747 donation from Qatar, intended for use as Air Force One. Ramaphosa humorously remarked on the situation by saying, &#8220;I wish I had a plane to give you.&#8221;
The South African leader expressed his satisfaction with the meeting&#8217;s outcome despite the intense discussions. He later told reporters, &#8220;You wanted to see drama and something really big happening,&#8221; said Ramaphosa. &#8220;I'm sorry that we disappointed you somewhat when it comes to that.&#8221;
See Also: <a href="https://benzinga.com/general/education/25/05/45546753/invested-1000-in-tesla-stock-tim-walz-criticized-ev-company-heres-how-much-youd-have-today" target="_blank" rel="noreferrer noopener">If You Invested $1,000 In Tesla Stock When Tim Walz Criticized EV Company, Here&#8217;s How Much You&#8217;d Have Today</a>
Why It Matters: This meeting is part of a series of tense diplomatic encounters involving President Trump. Recently, a&nbsp;<a href="https://in.benzinga.com/news/global/25/02/44053592/white-house-meeting-turns-tense-as-trump-warns-zelenskyy-youre-gambling-with-world-war-iii">White House meeting</a>&nbsp;with Ukrainian President Volodymyr Zelenskyy&nbsp;also escalated into a heated exchange. During that meeting, Trump warned Zelenskyy about the risks of escalating tensions, accusing him of &#8220;gambling with World War III.&#8221; The encounter was originally intended to finalize a U.S.-Ukraine agreement on critical mineral supplies but turned confrontational.
In another instance,&nbsp;<a href="https://www.benzinga.com/25/03/44064817/zelenskyy-says-not-sure-he-did-something-bad-after-public-spat-with-trump-jd-vance-we-have-to-be-very-honest-and-direct">Zelenskyy addressed</a>&nbsp;the public spat with Trump, expressing optimism about mending ties between the two leaders. Despite these diplomatic tensions, Zelenskyy emphasized the longstanding relationship between the U.S. and Ukraine, expressing gratitude for American support.
Photo Courtesy: Joey Sussman on Shutterstock.com
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

Trump Gives South African President The Zelenskyy Treatment, Hits Cyril Ramaphosa With Controversial Genocide Claims

Kirby (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEX#NYSE">KEX</a>) has outperformed the market over the past 5 years by 1.03% on an annualized basis producing an average annual return of 15.31%. Currently, Kirby has a market capitalization of $6.05 billion. 
Buying $1000 In KEX: If an investor had bought $1000 of KEX stock 5 years ago, it would be worth $2,038.35 today based on a price of $107.91 for KEX at the time of writing.
<h3>Kirby's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1747870218_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Kirby Stock In The Last 5 Years

Texas Instruments (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) has outperformed the market over the past 15 years by 2.63% on an annualized basis producing an average annual return of 14.34%. Currently, Texas Instruments has a market capitalization of $168.45 billion. 
Buying $1000 In TXN: If an investor had bought $1000 of TXN stock 15 years ago, it would be worth $7,681.03 today based on a price of $185.42 for TXN at the time of writing.
<h3>Texas Instruments's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1747869329_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In Texas Instruments 15 Years Ago Would Be Worth Today

IDEXX Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDXX#NASDAQ">IDXX</a>) has outperformed the market over the past 20 years by 3.16% on an annualized basis producing an average annual return of 11.41%. Currently, IDEXX Laboratories has a market capitalization of $40.59 billion. 
Buying $1000 In IDXX: If an investor had bought $1000 of IDXX stock 20 years ago, it would be worth $8,586.83 today based on a price of $500.87 for IDXX at the time of writing.
<h3>IDEXX Laboratories's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1747868455_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

IDXX

$1000 Invested In This Stock 20 Years Ago Would Be Worth This Much Today

Knowing your worth and having the courage to invest in yourself are two critical traits for anyone seeking success in life. Perhaps there is no better example of this than boxing great Floyd &#8220;Money" Mayweather, who parlayed a $750,000<a href="https://www.benzinga.com/money/high-return-investments"> investment</a> in himself into a $400 million boxing and promotional empire.&nbsp;
Mayweather told <a href="https://www.forbes.com/sites/kurtbadenhausen/2015/05/02/boxings-greatest-investment-floyd-mayweathers-750000-bet-on-himself/?sh=47711a111e04">Forbes</a> the story of how he earned his nickname. It all started in 1996, when Mayweather turned pro after winning a bronze medal in the Olympics. Mayweather, who comes from a family of famous boxers, had sublime boxing skills but lacked the connections and know-how to stage and promote professional prize fights. So, he did what most fighters in his situation did back then..
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He signed a contract with Bob Arum's Top Rank Promotions. Arum was a very well-respected promoter with a proven track record of staging lucrative fights. Through his career, Arum had made numerous fighters wealthy, and Mayweather was no exception. By 1998, Arum had guided Mayweather to a spotless 18-0 record and a world championship.
Arum's career guiding fighters to superstardom included stints managing legends like Muhammad Ali and Oscar De La Hoya. It looked like Mayweather was the next one. By 2005, Arum had featured Mayweather in two high-grossing pay-per-view fights against Arturo Gatti Jr and Zab Judah. According to Forbes, both fights drew over 350,000 views, and the promotions were wildly successful for Top Rank. Forbes also estimates Mayweather earned about $3 million per fight.
It wasn't chump change by any means, but Mayweather wanted more. Arum was paying him well, but Mayweather believed that earning $3 million was small change compared to the money Arum and Top Rank were making off 350,000 pay-per-view buys. Mayweather knew that he, not Arum, was the main draw for any pay-per-view fight and believed he could earn nine figures by managing his career and promoting his fights without Arum.
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There was a clause in Mayweather's Top Rank contract allowing him to become a free agent for $750,000. Mayweather paid the fee and linked up with Al Haymon, a well-known concert promoter, and trainer Leonard Ellerbe, to form Mayweather Promotions. Ellerbe, who was CEO of Mayweather Promotions until 2024, told Forbes, "Floyd wanted to take his career in a new direction. Floyd walked into Top Rank's office, handed them a check, and the rest is history."
Mayweather's instincts proved correct. Even though his first Mayweather Promotions fight only netted 325,000 views, Mayweather still made $8 million. That was more than double what he was earning at Top Rank. Mayweather hit the big time in 2007, when his fight with De La Hoya netted 2.48 million pay-per-view buys and generated $137 million. Mayweather earned $25 million for the fight when his pay-per-view share was calculated.
Mayweather earned at least $25 million for his next ten fights, mostly because Mayweather Promotions was plugged into every possible revenue stream. Mayweather was getting his money off the top instead of waiting until his promoter deducted all the expenses first and paid him last. Then Mayweather signed an eight-fight deal with HBO in 2013 that would pay him a minimum of $32 million per fight.&nbsp;
See Also: The team behind $6B+ in licensing deals is now building the next billion-dollar IP empire — <a href="https://www.benzinga.com/money/elf-labs-ym?v=123">invest early at $2.25/share.</a>
Mayweather's next big payday came in 2013, when he fought Canelo Alvarez. According to Forbes, the Mayweather vs. Alvarez fight netted 2.25 million pay-per-view buys and earned an astonishing $130 million. Mayweather reportedly earned $41.5 million for his work in the ring, plus another $30 million cut of the pay-per-view money. By the time Mayweather retired, he had a 50-0 record, and Forbes estimates his fights generated $871 million in revenue.
Forbes also estimates that Mayweather has personally netted around $420 million in earnings and that roughly 90% of it came to him after the split with Top Rank. He also has a passive income stream because Mayweather Promotions still handles fighters. It all started with Mayweather knowing his worth and<a href="https://www.benzinga.com/insights/news/25/05/45457595/1000-invested-in-this-stock-15-years-ago-would-be-worth-this-much-today"> investing in himself</a>. Ellerbe told Forbes, "It is the best investment in the history of sports."
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Personal Finance

Boxing Great Floyd Mayweather Jr's Greatest Investment – How He Turned $750K Into $400M

Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) shares plunged on Wednesday following a report that the company is preparing to file for Chapter 11 bankruptcy protection as it struggles <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45541882/wolfspeed-stock-is-tumbling-wednesday-whats-going-on">with a mountain of debt.&nbsp;</a>
Unusual options activity was spotted Tuesday afternoon before the report was released.&nbsp;
What To Know: A Wall Street Journal report released after the closing bell on Tuesday triggered a massive sell-off that continued throughout Wednesday's session. Notably, options traders bought a large volume of put options on Wolfspeed ahead of the reports of a bankruptcy.&nbsp;
Read Next: <a href="https://www.benzinga.com/government/regulations/25/05/45554854/health-care-stocks-like-unitedhealth-cvs-tank-on-wednesday-heres-why?utm_source=article">Health Care Stocks Like UnitedHealth, CVS Tank On Wednesday: Here&#8217;s Why</a>
In fact, Tuesday's net premium was negative $3.7 million. Traders spent $3.7 million more buying options than they received selling them, indicating a strong belief the stock would fall sharply — before the report of a possible bankruptcy was made public.&nbsp;
Unusual Whales, an anonymous social media account, pointed out in a post on X that traders were betting heavily that Wolfspeed stock would crash. And they did so in unusually large amounts just before the bankruptcy news became public.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Wolfspeed <a href="https://twitter.com/search?q=%24WOLF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WOLF</a> is filling for bankruptcy. To say options sentiment was bearish on this is an understatement. Today&#39;s net premium, NEGATIVE $3.7 MILLION! Most active chains <a href="https://twitter.com/search?q=%24WOLF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WOLF</a> $3 puts expiring 07/18/2025. People have been trading the companies downfall for a while, but… <a href="https://t.co/1MElEmDBlo">pic.twitter.com/1MElEmDBlo</a>
&mdash; unusual_whales (@unusual_whales) <a href="https://twitter.com/unusual_whales/status/1924941199754068139?ref_src=twsrc%5Etfw">May 20, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
"To say options sentiment was bearish on this is an understatement. Today&#8217;s net premium, NEGATIVE $3.7 MILLION! Most active chains<a href="https://x.com/search?q=%24WOLF&amp;src=cashtag_click"> $WOLF</a> $3 puts expiring 07/18/2025. People have been trading the companies downfall for a while, but WENT INCREDIBLY HEAVY today, before the news. People knew, and kept trading it," Unusual Whales wrote.&nbsp;
The post suggests that some traders may have had advance knowledge of the bankruptcy plans, a situation that often attracts regulatory scrutiny.&nbsp;
Those who bought puts before the news stood to make substantial profits from the stock's collapse.
Wolfspeed stock closed Wednesday down 59.11% at $1.28 per share, according to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>.
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Rumors

Options

WOLF

Wolfspeed Stock Plunges 59% On Bankruptcy Fears: Options Traders Cash In

Elevance Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>) has outperformed the market over the past 15 years by 2.91% on an annualized basis producing an average annual return of 14.61%. Currently, Elevance Health has a market capitalization of $90.40 billion. 
Buying $1000 In ELV: If an investor had bought $1000 of ELV stock 15 years ago, it would be worth $7,862.45 today based on a price of $400.12 for ELV at the time of writing.
<h3>Elevance Health's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1747867524_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

streetTRACKS Dow Jones U.S. Large Cap Value Index Fund

$1000 Invested In Elevance Health 15 Years Ago Would Be Worth This Much Today

"At some point you have to be financially responsible," luxury watch collector Olivier Paredes told <a href="https://www.businessinsider.com/middle-class-economy-wealth-luxury-shopping-consumers-spending-retail-2025-5">Business Insider</a> in early May. He was sharing why he&#8217;s stepping back from his five-year habit of splurging on luxury watches.&nbsp;
Sudden price hikes doubled tags on brands like Rolex and Omega, popping the pandemic-era spending bubble and driving a record 50 million aspirational shoppers out of the roughly $392 billion personal luxury goods market.
<h2 class="wp-block-heading">Why The Bubble Popped</h2>
The global personal luxury goods market shrank 2% year-over-year in 2024, according to a <a href="https://www.bain.com/insights/luxury-in-transition-securing-future-growth">Bain &amp; Co. report</a>, marking its first contraction in 15 years, excluding the COVID-19 pandemic period.
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In 2024, global luxury spending remained steady at approximately €1.5 trillion ($1.7 trillion), marking one of the weakest years since the Great Recession, according to <a href="https://www.bain.com/insights/luxury-in-transition-securing-future-growth">Bain</a>. As a result, the personal luxury goods market dipped to €363 billion, reflecting a 2% decline compared to 2023 at current exchange rates, though flat at constant exchange rates.&nbsp;
Over the past two years, the global luxury customer base has shrunk by about 50 million consumers, driven by economic uncertainty, elevated prices, and reduced engagement from younger generations.
<h2 class="wp-block-heading">Middle-Income Retreat</h2>
Middle-income households—defined by <a href="https://www.pewresearch.org/short-reads/2024/09/16/are-you-in-the-american-middle-class/#:~:text=We%20use%20your%20size%2Dadjusted,and%20expressed%20in%202022%20dollars.)">Pew Research Center</a> as those earning between $56,600 and $169,800 annually—have retrenched after pandemic-era YOLO spending surges.&nbsp;
<a href="https://www.businessinsider.com/middle-class-economy-wealth-luxury-shopping-consumers-spending-retail-2025-5">According to Business Insider,</a> one handbag enthusiast who used to shell out nearly $20,000 a year says she's trimmed her budget to $6,000, pointing to doubled sticker prices for top bag brands over the last five years.&nbsp;
Paredes himself poured about $70,000 into high-end timepieces over five years before deciding it was time to focus on more pressing financial goals.
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — <a href="https://www.benzinga.com/money/boxabl-scaling-fast-from-spacex-orders-to-600-homes-built-this-60k-foldable-home-may-be-the-future-of-housing">this is your last chance to become an investor for $0.80 per share.</a>
<h2 class="wp-block-heading">Price vs Paycheck</h2>
Over the past five years, <a href="https://www.bls.gov/regions/mid-atlantic/data/consumerpriceindexhistorical_us_table.htm?">U.S. consumer prices</a> have increased by about 25.5%, while average <a href="https://fred.stlouisfed.org/series/CES0500000003?utm">hourly wages </a>for private-sector workers have risen roughly 29.8%, according to federal data. Although wages have slightly outpaced <a href="https://www.bls.gov/cpi">inflation</a>, the gains have done little to ease the strain on discretionary budgets.&nbsp;&nbsp;
According to Primerica, <a href="https://investors.primerica.com/news-events/press-releases/detail/344/national-survey-middle-income-americans-grapple-with?utm">69% of middle-class consumers</a> feel their income is falling behind the cost of living, and 71% rate their ability to save for the future as "poor" or "not so good." Meanwhile, <a href="https://www.census.gov/retail/sales.html">U.S. retail sales </a>rose a scant 0.1% in April, underscoring consumer caution.
<h2 class="wp-block-heading">What's Next For Luxury</h2>
"We're finally seeing a limit to the ‘you only live once' urge to splurge," said Ted Rossman, senior industry analyst at Bankrate. In a recent <a href="https://www.bankrate.com/credit-cards/news/discretionary-spending-survey/">survey</a>, he noted that more than half of U.S. adults expect to reduce spending on discretionary items like travel, dining out, and entertainment—attributing the shift to fading post-pandemic demand and ongoing inflation.
This ties into a Feb. 9 <a href="https://www.mckinsey.com/featured-insights/themes/whats-next-for-luxury">McKinsey &amp; Co.</a> report revealing a sharp slowdown in the luxury market, even hitting top brands.&nbsp;
Read Next:
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<li>Nancy Pelosi Invested $5 Million In An AI Company Last Year — <a href="https://www.benzinga.com/money/elf-labs-ym?v=123">Here's How You Can Invest In Multiple Pre-IPO AI Startups With Just $1,000.</a></li>
<li>Invest where it hurts — and help millions heal:<a href="https://www.benzinga.com/money/a-cure-for-osteoarthritis-powered-by-everyday-investors-cytonics-is-looking-to-beat-big-pharma-and-disrupt-a-390-billion-market"> Invest in Cytonics and help disrupt a $390B Big Pharma stronghold</a>.</li>
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'At Some Point You Have To Be Financially Responsible' Says Luxury Watch Buyer As Market Loses 50 Million Shoppers

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