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Tesla can’t seem to catch a break as anger over CEO Elon Musk’s interference in the U.S. government continues to spill over to his business. Shares of Tesla (NASDAQ: TSLA) fell about 2% early Thursday as investors continue to trim their positions and short the stock in the face of declining sales in Europe and China, amid Musks ongoing controversial behavior. The stock is down 5% in the past five days, 35% in the past month, and 42% since the beginning of 2025. And by some estimates, Musk has lost more than $100 billion since December. More bad news for the EV giant: On Thursday, Tesla announced it was recalling 46,096 Cybertruck vehicles in the U.S. to fix a defective exterior panel that could detach during driving. It’s just another in a series of setbacks for Cybertruck owners, some who claim they have been “threatened and harassed” as targets of anti-Musk hostility. In an effort to buoy support for Musk from inside the Trump administration, Commerce Secretary Howard Lutnick urged Americans to buy Tesla stock during an appearance Wednesday on Fox News, aggravating critics who pointed out that cabinet secretaries should not be recommending individual stocks, especially those linked to a person working for the administration. (It’s a deep conflict of interest.) Another issue: Lutnick’s former investment firm Cantor Fitzgerald upgraded Tesla’s stock just hours before the appearance. The investment bank is now run by Lutnick’s sons. As CNBC pointed out, federal government employees are legally prohibited from using their government position or title or any authority associated with his public office to endorse any product, service, or enterprise, save for a few exceptions. But this isn’t the first time the Trump administration has brazenly come out in support of Musk and Tesla. Just last week, the president held a photo opportunity at the White House with Musk where he literally got in a Tesla and told Americans: “I am going to buy one.” “Here’s the bad news, I’m not allowed to drive, but I am going to have it at the White House,” Trump saidadding, as he stood next to Musk: “And he has never asked me for a thing.”
Category:
E-Commerce
Everyday Health Group, a division of Ziff Davis, announced on Wednesday that it has acquired theSkimm, the newsletter and media brand dedicated to giving women the information they need to make confident decisions. TheSkimm was cofounded by Carly Zakin and Danielle Weisberg in 2012. They met in college, and then reconnected years later while working as news producers for NBC. The company began as a daily newsletter that was an essential daily news digest for millennial women (and men). Today, it offers multiple newsletters, podcasts, and a mobile app. It also houses Skimm Studios, which creates video and audio content, as well as SKM Lab, which allows brands to engage with generations of women. According to a press release, the acquisition should allow Everyday Health Group to connect with theSkimm’s loyal audience, providing trusted, evidence-based information and services to deliver timely and valuable content in the rapidly expanding womens health and wellness sector. Terms of the deal were not disclosed. “The creation of theSkimm marked a watershed moment in getting vital information to a highly engaged audience of female readers in an incredibly compelling format,” said Nan Forte, executive vice president and general manager of Everyday Health Consumer. in a statement. “Today, it is a multifaceted suite of products and services uniquely designed to help her solve issues and better thrive across her work, life and family goals while simultaneously connecting her to a savvy, supportive and optimistic community.” ‘You can expect the same commitment’ Everyday Health Group has an audience of over 67 million health consumers and over 890,000 U.S. practicing physicians and clinicians. Its mission is to create better clinical and health outcomes by providing highly relevant information, data, and analytics. Everyday Health Group’s portfolio includes Everyday Health, and DailyOM, as well as medical professional brands such as MedPage Today and Health eCareers. TheSkimm will now be under Everyday Health Groups consumer portfolio, operating as a standalone brand, while keeping its current branding and staff, reported Axios. You can expect the same commitment to trusted, relevant information and even more Skimm experiences, said Zakin and Weisberg in the Daily Skimm newsletter. They echoed this sentiment on social media, assuring followers that theSkimms evolution would bring fresh experiences without straying from its core values. We will continue on with theSkimm in a way that allows us to be closer to building the brand. Get ready for the next chapter and more of what you love, the cofounders wrote in an Instagram post.
Category:
E-Commerce
The NBAs Boston Celtics are used to packing their arena with a sea of green. Now, the companys owners, the Grousbeck family, are seeing green. Thats because the franchise has reportedly been sold for $6.1 billion, per ESPN, to a group led by Bill Chisholm, managing partner at private equity firm Symphony Technology Group. The sale would be the largest for a sports franchise in North American history, beating out the sale of the NFLs Washington Commanders franchise two years ago, which tallied $6.05 billion. The sale would still need to be approved by the NBA Board of Governors. Fast Company has reached out to both the Celtics and Symphony Technology Group for comment. The sale comes on the heels of the Celtics winning the NBA championship last year, the 18th in franchise history. It was announced that the Grousbeck family, the franchises primary owner, would seek to sell the team last summer as well. It bought the team in 2002 for $360 million, and if the $6.1 billion sale does go through, the family would see a roughly 1,700% return on investment. The sale also shows that sports franchise values are steadily increasing. In 2023, both the Phoenix Suns and Milwaukee Bucks were also sold, for $4 billion and $3.5 billion respectively. At the tail end of that year, the Dallas Mavericks were also sold for $3.5 billion. The $6.1 billion valuation would put the Celtics near the upper echelon of North American sports franchises. The most recent rankings from Forbes, which regularly publishes a list of the most valuable sports teams, ranks the NFLs Dallas Cowboys at the top with an estimated value of more than $10 billion. Two other NBA franchises are among the top five: The Golden State Warriors are valued at $8.8 billion, and the New York Knicks are valued at $7.5 billion.
Category:
E-Commerce
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