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XR Energy Inc

On his X platform, Elon Musk publicly agreed with Donald Trump&#8216;s critique of the Democratic National Convention, <a href="https://www.benzinga.com/news/24/07/39872015/teslas-elon-musk-recently-pledged-a-huge-donation-to-donald-trump-and-the-ex-president-returned-the">sparking widespread discussion</a>.
What Happened: On Friday, Musk responded to a post on X by Trump criticizing the Democratic meeting that ended on Thursday.
Trump claimed the Democrats plan to &#8220;destroy our Country with Radical Left, Marxist/Socialist Policies&#8221; after the election. Musk simply responded, &#8220;True.&#8221;
<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">True
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1827030472175522230?ref_src=twsrc%5Etfw">August 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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This brief interaction has drawn attention due to Musk&#8217;s influence in the tech industry and his previous interactions with political figures.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/07/39999410/what-a-second-trump-presidency-would-mean-for-elon-musk-and-his-many-ventures" target="_blank" rel="noreferrer noopener">What A Second Trump Presidency Would Mean For Elon Musk And His Many Ventures</a>
Why It Matters: Musk&#8217;s agreement with Trump&#8217;s statement is significant as it provides insight into his political views. His influence and reach could potentially sway public opinion, making his political leanings a topic of interest.
However, without any additional context or explanation from Musk, it&#8217;s unclear exactly what aspects of Trump&#8217;s tweet he agrees with. This leaves room for interpretation and further discussion.
Read Next:
<a href="https://www.benzinga.com/news/24/08/40147580/heres-how-an-elon-musk-backed-pac-harnesses-voter-data-to-support-donald-trump" target="_blank" rel="noreferrer noopener">Here&#8217;s How An Elon Musk-Backed PAC Harnesses Voter Data To Support Donald Trump</a>
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.

Politics

Elon Musk Signs On To Donald Trump's Criticism Of 'Radical Left' Democratic Convention

As real estate investors<a href="https://www.benzinga.com/economics/macro-economic-events/24/07/39614880/now-owning-a-house-in-us-is-more-challenging-than-ever-as-affordability-drops-to-"> contend with high-interest debt and soaring prices</a>, some are turning their attention to often-overlooked metro areas in search of higher returns. Nick Gerli, CEO of Reventure Consulting, has identified five markets where investors can potentially find the most attractive capitalization rates ("cap rates") in the current environment.
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&#8220;These are markets where investors can still cash flow in 2024, even with today&#8217;s interest rates,&#8221; Gerli wrote on X (formerly Twitter).
According to Gerli, Jackson, Mississippi, tops the list with an 8.5% cap rate. New Orleans follows at 7.8%, while Columbia, South Carolina (7.1%), Pittsburgh (7.0%), and El Paso, Texas (6.9%) round out the top five.
Trending: Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a>
Cap rates, a key metric in commercial real estate, represent the ratio of a property&#8217;s net operating income to its market value. Higher cap rates generally indicate greater potential returns but often involve increased risk.
&#8220;High cap rate markets are a potentially good place to invest in 2024, as they return more cash flow from Day One and rely less on long-term appreciation,&#8221; Gerli noted.
The focus on immediate cash flow could prove attractive to investors wary of speculating on future price appreciation in an uncertain economic climate. By contrast, Gerli pointed out that many markets in California, Washington, and the Mountain West offer cap rates below 4%, a figure some investors might find uninspiring given current borrowing costs, as they may not provide sufficient returns to offset higher borrowing costs.
Trending: A billion-dollar investment strategy with minimums as low as $10 —<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> you can become part of the next big real estate boom today.</a>
However, real estate professionals caution that cap rates alone don&#8217;t tell the whole story. &#8220;When looking at cap rates, it&#8217;s critical to analyze like-kind comparables, such as property type, location, income/expense, quality/condition, and durability,&#8221; explains a JPMorgan report issued earlier this year on the metric.
The report also notes that factors like local economic conditions, property-specific characteristics, and broader macroeconomic trends can all influence an investment&#8217;s true risk-return profile.
Trending: These five entrepreneurs are worth $223 billion –<a href="https://www.benzinga.com/money/arrived-homes-private-credit-fund"> they all believe in one platform that offers a 7-9% target yield with monthly dividends</a>
Using Dallas as an example, Gerli&#8217;s analysis illustrated how cap rates can vary within a single metro area. While high-priced suburbs north of downtown offer cap rates of just 1-2%, more transitional neighborhoods boast rates of 6-7% to the south.
&#8220;If you&#8217;re an investor, understanding the rental and cap rate trends in your city is Paramount to making good investment decisions,&#8221; Gerli advised.
As the Federal Reserve signals interest rate cuts in 2024, investors may want to see how cap rates across various markets respond. Lower borrowing costs could compress cap rates in some areas, potentially changing the landscape of investment opportunities. For now, cities like Jackson and New Orleans are enjoying their moment in the spotlight as potential havens for <a href="https://www.benzinga.com/markets/24/08/40480372/wall-streets-most-accurate-analysts-weigh-in-on-3-real-estate-stocks-with-over-5-dividend-yields">yield-hungry real estate investors</a>.&nbsp;
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<li>Will the surge continue or decline on real estate prices?<a href="https://www.benzinga.com/money/realbricks"> People are finding out about risk-free real estate investing that lets you cash out whenever you want.</a></li>
</ul>

Real Estate

Real Estate Executive Says These 5 Markets Are Where Investors Can Get The Highest Returns

The Royal Society is reportedly under pressure to expel <a href="https://www.benzinga.com/topic/elon-musk" target="_blank" rel="noreferrer noopener">Elon Musk</a> from its fellowship amid concerns over his controversial statements and potential impact on the institution&#8217;s reputation.
Elected as a fellow of the UK&#8217;s Royal Society in 2018 for his contributions to space and electric vehicle industries, Elon Musk, owner of the social media platform X, is often compared to the influential engineer Isambard Kingdom Brunel, <a target="_blank" href="https://www.theguardian.com/technology/article/2024/aug/23/royal-society-facing-calls-to-expel-elon-musk-amid-concerns-about-conduct" rel="noreferrer noopener">reported</a> The Guardian.
Musk co-founded SpaceX, known for its breakthroughs in reusable rocket technology, and is also the CEO and co-founder of Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), a leader in sustainable energy innovation.
However, several Royal Society fellows have proposed the potential revocation of Musk&#8217;s fellowship in letters to the institution, The Guardian added.
One fellow cited Musk&#8217;s inflammatory remarks, including his reaction to recent UK riots, as reasons for concern that he might tarnish the institution&#8217;s reputation.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/08/40540569/elon-musks-x-staff-have-to-justify-why-they-deserve-stock-grants-with-1-page-summary-of-their-contri" rel="noreferrer noopener">Elon Musk&#8217;s X Staff Have To Justify Why They Deserve Stock Grants, With 1-Page Summary Of Their Contributions: Report</a>
Musk&#8217;s tweets on unrest have faced backlash: Downing Street condemned his &#8220;civil war is inevitable&#8221; remark on Liverpool riots, and he shared a fake news story about Keir Starmer and emergency detainment camps, later deleted.
He also pushed a conspiracy theory alleging UK police unfairly target white far-right protesters the report read.
There are concerns that removing Musk might need to focus on his potential to amplify harmful beliefs, rather than his personal views.
Expelling a fellow from the Royal Society would be unprecedented, with no expulsions reported in over 150 years, the report read.
However, there have been controversies; for example, in 2008, Prof. Michael Reiss resigned as director of education following remarks about teaching creationism in schools.
The Royal Society spokesperson told The Guardian, &#8220;Any issues raised in respect of individual fellows are dealt with in confidence.&#8221;
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Equities

Media

TSLA

Royal Society May Consider Expelling Elon Musk: Has He Gone Too Far?

Jim Cramer, the host of CNBC&#8217;s Mad Money, recently caused a buzz on Twitter by strongly defending Home Depot. In his tweet, Cramer targeted those who sold their shares in the company, praising what he called Home Depot&#8217;s &#8220;winning culture&#8221; and suggesting that it would thrive if the <a href="https://www.benzinga.com/top-stories/24/08/40492530/fed-minutes-reveal-plausible-case-for-interest-rate-cut-as-policymakers-cheer-inflation-progress">Federal Reserve cuts interest rates</a>.&nbsp;
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So, what exactly did he say, then? He said, &#8220;Attention idiots who sold Home Depot. Have you ever been to one? This is a winning culture now and will do great with a rate cut.&#8221;&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Attention idiots who sold Home Depot. Have you ever been to one? This is a winning culture now and will do great with a rate cut..
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1823359460011561024?ref_src=twsrc%5Etfw">August 13, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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Despite Cramer&#8217;s enthusiasm, many of his Twitter followers quickly pointed out their less-than-ideal experiences with Home Depot. One user commented, &#8220;Yes I have been to one. It's staffed by fast food workers who don't know how to use or do anything, and when you order online they have absolutely no problem selling you something that doesn't exist in their inventory.&#8221; Another added, &#8220;Why do you call people who take profits &#8220;idiots&#8221;?&#8221;
Nevertheless, Home Depot has long been a leader in the home improvement retail sector. Cramer views its ability to thrive during tough economic times as a testament to its strong operational culture. His optimism likely stems from the company's history of weathering economic downturns by capitalizing on trends like increased home renovation when buying new homes slows down.
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However, Cramer's tweet sparked backlash due to his history of controversial stock picks. During the dot-com bubble, Cramer aggressively <a href="https://www.benzinga.com/startups/24/07/39963188/to-no-ones-surprise-jim-cramer-praised-crowdstrike-less-than-two-months-ago-i-dont-think-that-domino">endorsed tech stocks</a> that eventually plummeted, causing massive losses for followers. In 2008, he encouraged holding onto Bear Stearns stock just days before the company's collapse, drawing widespread criticism.
Given this history, it&#8217;s no surprise that some Twitter users reacted to his inflammatory tweet by suggesting the opposite of Cramer's advice, such as shorting Home Depot stock or buying put options. Creating an Inverse Cramer ETF – designed to profit by doing the opposite of Cramer's stock picks – also reflects many&#8217;s skepticism toward his recommendations​.
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While Cramer is upbeat about Home Depot, the mixed reactions to his tweet show that many investors are being careful. Home Depot is a solid company with a lot of loyal customers, but bigger issues like high interest rates and inflation <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40349028/home-depot-sales-fall-short-as-consumers-become-increasingly-cautious-analyst">are hard to ignore</a>. Whether Home Depot will do as well as Cramer thinks depends a lot on things the company can't control, like what the Federal Reserve does and how comfortable people feel about spending money right now.
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Startups

Jim Cramer: 'Attention Idiots Who Sold Home Depot. Have You Ever Been To One?' Calls It A 'Winning Culture' But Gets Backlash From Followers

A New York appeals court is set to hear arguments on Sept. 26 regarding Donald Trump&#8217;s appeal of the <a href="https://www.benzinga.com/topic/2024-election" target="_blank" rel="noreferrer noopener">$454 million civil judgment against him</a>.
With the hearing scheduled so close to Election Day, a final decision may not be reached until after the elections, <a target="_blank" href="https://edition.cnn.com/2024/08/21/politics/new-york-trump-civil-fraud-oral-arguments-scheduled/index.html" rel="noreferrer noopener">reported</a> CNN.
Trump is challenging Judge Arthur Engoron&#8216;s ruling, which found him liable for fraud and imposed a $354 million penalty, plus over $100 million in interest. The former president argues that the judgment is unconstitutional, that no real harm occurred, and that the case should be dismissed due to the age of the alleged conduct.
In April, Trump posted a $175 million bond after the appeals court reduced the amount, temporarily halting any actions by New York Attorney General Letitia James to seize his properties or bank accounts.
On Wednesday night, the Attorney General&#8217;s office urged the appeals court to uphold Engoron&#8217;s verdict, which also implicated Trump&#8217;s adult sons and other associates in the fraud case. The AG&#8217;s office argued there is &#8220;overwhelming evidence&#8221; that Trump inflated property values on financial statements to secure loans.
The filing from the Attorney General&#8217;s office criticized Trump&#8217;s appeal for lacking a thorough discussion of the deceptive practices used to inflate asset values. Instead, they claimed the appeal focuses on weak legal arguments and is contrary to established law.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/08/40541344/scaramucci-blown-away-by-kamala-harris-dnc-speech-questions-whether-trump-is-american-putin-with-his" rel="noreferrer noopener">Scaramucci Blown Away By Kamala Harris&#8217; DNC Speech, Questions Whether Trump Is &#8216;American Putin&#8217; With His Divisive Approach</a>
&#8220;Supreme Court&#8217;s liability determinations are supported by overwhelming evidence that, in each Statement, defendants used a variety of deceptive strategies to vastly misrepresent the values of Mr. Trump&#8217;s assets,&#8221; the AG&#8217;s office stated.
Trump&#8217;s legal team counters that the AG failed to prove lenders relied on these misrepresentations and that no financial losses resulted from the alleged fraud. They also argued that the judgment includes loans beyond the statute of limitations and improperly counts profits from property sales.
The Attorney General&#8217;s office defended the initial judgment as a &#8220;reasonable estimate&#8221; of the gains Trump obtained through fraud. They also pointed to Trump&#8217;s Florida estate, Mar-A-Lago, as an example of the inflated valuations in his financial statements, which was supported by the judge&#8217;s findings.
As the legal battle continues, it remains to be seen how the court will rule and how this case might impact the upcoming elections.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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</ul>

Trump's $454M Civil Judgment Appeal Heads To Court: Decision Unlikely Before Election Day

Imagine flying anywhere in the world for free, anytime you want, and taking someone with you. Sounds like a dream, right? This dream became a reality for Mark Cuban when he purchased an American Airlines lifetime Airpass for $125,000 at just 29 years old.&nbsp;
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The pass allowed him and a companion to fly first-class anywhere, anytime, for life. But that's not all – if the flight were full, someone else would have to be removed to accommodate Cuban. One day, that "someone else" happened to be basketball legend Magic Johnson.
Cuban shared the unbelievable story in a 2013 <a href="https://youtu.be/nI48etFKABY?si=LRL0SyDUFaJSfBL1">interview</a> on The Howard Stern Show. He lived a high life after <a href="https://www.benzinga.com/personal-finance/24/06/39440861/mark-cuban-began-his-millions-selling-garbage-bags-for-6-the-worlds-first-garbage-bag-door-to-do">selling his first company, MicroSolutions</a>, for $6 million. He had just purchased the Airpass on a whim after a night of celebration. This pass was a golden key to spontaneity for Cuban: &#8220;I would walk into clubs, and I&#8217;d be, you know, talking to some girl, and I&#8217;m like, let&#8217;s just go to Vegas. I was having fun.&#8221;&nbsp;
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He also recalled how he once casually decided to go to Barcelona for his 30th birthday just because a friend suggested it. There was no planning, no booking – just walking up to the airport and flying away.
During one flight, the airline needed to make room for Cuban and his companion, and the unlucky person booted off the plane was none other than Magic Johnson. According to Cuban, Johnson had no idea why he was being bumped and likely didn&#8217;t realize it was because of Cuban's Airpass– &#8220;I&#8217;ve said it to him, but he doesn&#8217;t remember,&#8221; Cuban reflected later when talking to Johnson.
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Although American Airlines eventually realized selling these passes was a financial disaster and discontinued the program, Cuban's lifetime pass, which he later transferred to his dad, is a testament to the crazy, once-in-a-lifetime deals that were possible back then.&nbsp;
Today, with rising fuel costs and tightened airline budgets, the idea of such a pass seems almost too good to be true. But for Cuban, it was a reality that paid off in unforgettable experiences – and some very awkward moments for Magic Johnson.
Mark Cuban wasn't just savvy in the skies; <a href="https://www.benzinga.com/startups/24/08/40423294/heres-how-mark-cuban-protected-his-1-4-billion-fortune-from-the-2000-dot-com-crash-one-of-the-top-10">he was also a trailblazer in the digital world</a>. In the late 1990s, he and his business partner, Todd Wagner, founded Broadcast.com, a company that pioneered online streaming long before it became the norm. Their foresight paid off handsomely when Yahoo acquired Broadcast.com for an astounding $5.7 billion in stock in 1999, instantly making Cuban a billionaire.
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For $125,000, Mark Cuban Could Remove Anyone From A Flight. Magic Johnson Found Out The Hard Way

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