GO in the Know: Elon Musk Backpedals, Crypto Scams & Top Financial News for June 6

GO in the Know couple news
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It’s National Yo-Yo Day, so if you’re in the mood for a little old-fashioned fun … you know what to do. Meanwhile, here are the top financial stories of the day.

The Big Lead: Musk Clarifies Comments on Slashing Tesla Workforce

Elon Musk seemed to try to assuage investors’ anxiety over the weekend, following his leaked emails about slashing Tesla’s workforce, which sent the stock on a turbulent ride.

Business Spotlight: Costco Competitors

Several wholesale/retail superstores have to come up with savvy strategies, unique stock and shopping experiences, price slashes and membership discounts to compete with Costco.

That’s Interesting: Crypto Scams Cost Americans $1 Billion Since 2021

A new study found that since the start of 2021, more than 46,000 people have reported losing over $1 billion in crypto to scams. In terms of the percentage of dollars lost to scams, cryptocurrency outpaces any other payment method.

Bonus: Is Getting Money Advice From Friends and Family a Good Idea?

GOBankingRates spoke to several financial professionals about which risks and benefits to keep in mind when consulting friends and family for financial guidance.

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