Bitcoin’s Jump Adds To The FOMO Trade… And UnitedHealth’s Latest Injury 2/28/24

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.9 • 1.3K Ratings

🗓️ 28 February 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

A new leg of the FOMO trade. It’s not just AI stocks. The crypto craze seems to be getting another boost as retail investors pile in. Can the rally continue? Or are more painful losses around the corner? Plus… UnitedHealth facing a DOJ antitrust probe, while the insurance giant still deals with the fallout from its recent cyber hack. Our traders dig into the prognosis for this stock. Fast Money Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0	Live in the NASDAQ market site in the heart of New York City's Times Square
0:04.4	this is fast money. Here's what's on tap tonight. A Bitcoin breakout, the biggest
0:08.4	crypto in the world jumping back above the $60,000 mark, closing out on all-time highs.
0:13.7	Its market cap now nearly as big as medas.
0:16.6	What's behind this move and can it possibly go even higher?
0:19.8	We will debate that.
0:20.8	Plus, a stock once called God-like is coming back down to earth in a big
0:24.8	way the latest headlines dragging down shares of the United Health and why one
0:28.1	top analyst says it is still a buy and later alphabet's no good very bad week gets worse since shares fall to the lowest
0:35.7	since mid-December.
0:37.2	One of our traders says the company is ripe for an activist to take a stand in the stock,
0:41.4	what they're looking for and what it could mean for the tech
0:43.4	giants investors. I'm Melissa Lee coming to you a lot from Studio B at the
0:46.9	Nasdaq on the desk tonight. Cepgrasso, Karen Feinerman Gaiadami, and Dan Suzuki,
0:51.1	the deputy chief investment officer at Richard Bernstein
0:53.7	advisors. Welcome Dan. And we start off with what might be the latest FOMO trade
0:58.3	to grip the markets. Bitcoin surging as much as 12% today hitting the 64,000 mark at its highs.
1:05.2	It is now at its best level in more than two years, just off its all-time high.
1:09.6	The recent rally prompting a rush of retail trader activity into the space crypto platform coin base
1:14.7	reporting trouble handling the volume with some users reporting zero dollar
1:18.7	balances in their account see O'Brien Armstrong responding to the issues on X saying, we are dealing with a large, in all caps,
1:25.8	large surge of traffic.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.