Blackstone: The Canary in the Coal Mine? Plus What’s Next for Meta 12/6/22

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.9 • 1.3K Ratings

🗓️ 6 December 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Shares of Blackstone hit their lowest level since April 2021 as the asset manager faces mounting redemptions and is pushed to sell off assets. But is the company’s problems a sign for broader concerns over the economy. Plus shares of Meta sinking nearly 7% today, but could they be poised for a turnaround? We’ll bring you the trade on this social stock. 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	Right now in fast to four-day losing streak for the S&P, the NANZAC dropping another
0:04.7	2% and crude falling to its lowest level since the beginning of the year.
0:08.0	They're worrying signs from the big banks that use and a major real estate company, plus
0:12.0	the Boba Bounce, Chinese tech in the emerging market, seemingly defying the calls for
0:16.0	a global recession.
0:17.0	Can you still get in on this phaging bet?
0:19.6	And later, SpongeBob SquarePants shares a paramount dropping as the CEO warns advertising
0:24.9	revenue is not going to be good for the fourth quarter of the details and options actions
0:29.0	right ahead.
0:30.0	I'm Melissa Lee.
0:31.0	This is Fast Money Live with the NANZAC MarketSight.
0:32.0	We've got a full desk tonight.
0:34.0	Full House, Tim Seymour, Julie Beale, Danny Tann and Guy Adami.
0:38.8	We start off at the potential canary in the coal mine for the economy shares a blackstone
0:42.0	dropping nearly 4% today to their lowest level since April of last year.
0:47.3	The stock has been hammered in recent days as the asset manager is faced with mounting
0:51.4	withdrawals from its benchmark real estate funds, forcing it to offload properties bump
0:55.5	up against its redemption limits.
0:57.4	What are blackstone's troubles just a tip of the iceberg and could they signal bigger
1:00.4	problems from real estate market as well as the economy?
1:03.9	We've been talking about this for some time and here we are.
1:07.4	We know that investors want their money back and they want it back in droves to the limit
	...

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