Breaking Down the Nasdaq’s Sell-Off, Analyzing Elon Musk’s Purchase of Twitter & A Look at Mega-Caps Fueling Market Swings 4/26/22

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 26 April 2022

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show breaking down the Nasdaq plunging to start the morning with CNBC’s Dom Chu and Satori Fund Founder Dan Niles. Then, Former Andreessen Horowitz Partner Benedict Evans and Slow Ventures General Partner Sam Lessin join to discuss Elon Musk’s purchase of Twitter, and CNBC’s Mike Santoli analyzes the impact of several mega-caps on the market’s daily swings. Next, Kindred Ventures Managing Partner Kanyi Maqubela weighs in on how to play today’s sell-off, and Former Twitter COO and CFO Ali Rowghani offers his perspective on the Twitter-Musk saga. Later, Wilmington Trust Head of Investment Strategy Meghan Shue looks at the ongoing volatility driving new lows for 2022, and CNBC’s Robert Frank reports on Elon Musk becoming America’s most leveraged CEO.

Transcript

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0:00.0	I'm Deerreboza, and you're listening to CNBC's Tech Check.
0:03.5	Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:07.8	Happy Tuesday. Welcome to Tech Check. I'm John Ford with Deerbosa and Julia Borsden.
0:12.1	Well, Musk wins what that means for the company for other social media and advertising stocks.
0:17.5	Tesla shares, which are plunging. They are down, I think, more than 7% today. We'll take a check on that.
0:24.8	Also look at the broader tech ecosystem. Jack Dorsey tweeted, Elon is the singular solution I trust.
0:32.5	I trust his mission to extend the light of consciousness.
0:36.2	Hmm. More on extending light of consciousness with Julia in just a moment,
0:39.3	but we have to start with this drop-off for tech stocks that we're seeing right now.
0:44.3	The NASDAQ is down 2.5% as this sell-off picks up Steam, Alphabet, and Microsoft
0:49.3	report numbers in a few hours. That's bound to influence things.
0:52.3	Dom Chu has more on what's moving right now. Hey Don. Influence things in a very big way because two of the biggest weightings in the NASDAQ 100, the NASDAQ composite, the S&P, you name it out there. But we are hitting session lows just about right now, as you pointed out for the NASDAQ composite, off almost 3%. 380 points are thereabouts. The reason why this is a kind of
1:12.4	area that some traders are watching closely is that because now we are now 22% below the record highs
1:18.5	that we set last fall. So again, into that so-called bear market territory that some traders like to
1:24.1	refer to. What's the level that some traders are watching right now? It's going to be
1:27.9	12,055 or thereabouts. And the reason why they're watching that is because that was the intraday
1:34.6	low that we saw earlier on this year with regard to the move lower just about a month and a half ago
1:40.4	for the NASDAQ composite. So keep it on 12,055. That's the downside level that some traders will keep an eye on today. Also, as for the NASDAQ composite. So keep it on 12,555. That's the downside level that some
1:45.4	traders will keep an eye on today. Also, as for the stocks that are making some of the biggest
1:49.8	downside moves here within that NASDA trade, you mentioned that Tesla trade. It's now down
1:54.8	more than 7%. We're talking 9.5% downside for Tesla. Lucid on the EV side of things, also down
2:00.4	6.5%. Invidia, Doc side of things also down six and a half percent.
	...

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