Are Stocks Too Hot?, Post-Lyft and Pre-Uber Earnings & Into the Metaverse

TechCheck

CNBC

Management, Cnbc, Tech, Faang, Investing, Business, Disruptors, Technology

4.5 • 66 Ratings

🗓️ 3 November 2021

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors start off the show with CNBC’s Mike Santoli taking a look at whether stocks are too hot right now. Then, NYU Stern School of Business Professor Aswath Damodaran joins to talk markets, Tesla, meme stocks and more. We also cover today’s downgrades on Zillow after the company said it will be scrapping its home flipping business. Next, Former Uber for Business SVP Emil Michael is here to talk Lyft post-earnings and Uber ahead of its report. Then, into the metaverse! Former Amazon Studios Head of Strategy and Founder of the Ball Metaverse ETF Matthew Ball is here to discuss the space. And later, Goldman Sachs Managing Director Eric Sheridan joins to talk Peloton ahead of its earnings report with the stock down 40 just this year. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	I'm John Ford. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:06.9	Good Wednesday morning. Welcome to Tech Check. I'm Carl Kintania with Deirdreboza and Julia Borsden. John Ford has the morning off.
0:13.0	NASDAG looks for its eighth straight day in the green, but is the rally set for a reckoning and argument why tech stocks might be too hot right now.
0:21.0	Speaking to which, look at Lyft.
0:22.6	Stock is surging post-earnings as Activision and Zillow both plunge on the flip side of the earnings trade.
0:29.3	Later on, Microsoft enters the Metaverse.
0:31.6	Netflix launches its games and Facebook doesn't about face on faces, D.
0:36.6	Well, we'll start, though, with the massive meltup and tech stocks and ASDAQ looking to continue its longest winning streak since August of last year.
0:44.5	Though hovering around the flyline at the moment, Mike Santoli with us, looking at weather stocks are too hot right now.
0:50.2	And this is the question of the moment, Mike.
0:52.4	It is, Dee.
0:53.3	And I would argue we're in a reheating phase, maybe not yet to an overheating phase, but it really has been quite a month. You know, it was a month ago tomorrow that we did bottom. NASDAQ 100 is up more than 10%. A lot of the racier parts of the market are moving even faster. Take a look, this is just a five-day chart. Remember the Buzz ETF, the social sentiment
1:12.0	basket of stocks that are really being talked about a lot online? Of course, Tesla is top of the list
1:17.5	here. A firm is in there. Palantir is in there. A lot of the other EV names Apple as well.
1:23.3	So essentially, a lot of those stocks that basically have a lot of carry on social media
1:28.5	are running as are small cap stocks.
1:30.4	I think that's important to note.
1:31.6	This is the time of year where there is a grab for the riskier parts of the market
1:35.5	and it has tended to work well unless you have something else, you know, kind of a disturbance
1:39.9	on the macro side that's going to choke off those risk appetites.
1:42.9	So I look at other broader
1:44.2	sediment measures. They're kind of getting there in terms of people being all in, not quite
	...

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