Checking in on Cathie Wood’s Ark Fund, Substack Writer Talks “Rational Irrationality” & Analyst Takes on ViacomCBS, Shopify and Coinbase

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 18 August 2021

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors kick off today’s show with CNBC’s Dom Chu wrapping up the latest tech market action. Then, NYU Stern Finance Professor Aswath Damodaran joins to break down the valuation of Cathie Wood’s Ark fund as more hedge funds bet against it. We also have Wells Fargo Senior Equity Analyst Steven Cahall on why he upgraded ViacomCBS to overweight. Then, CNBC’s Kate Rooney joins ahead of Robinhood’s earnings report set for after the bell today. Next, we have Substack Writer Eric Newcomer share why he thinks markets are no longer rational. Later, we have Morningstar Analyst Dan Romanoff with his bearish take on Shopify. Plus, we hear from Apple Vice President Lisa Jackson on Apple’s sustainability focus as well as the company’s commitment to privacy amid recent backlash. Plus, Mizuho Analyst Dan Dolev shares why he’s trimming his price target on Coinbase. 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 Carl Kintanilla. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:28.2	Good Wednesday morning. Welcome to Tech Check. I'm Carl Kintanio with Deerbosa. John Ford has the day off.
0:36.9	Today, reasons to worry with some jitters in the market. We've got warnings on some of the most popular names in tech, plus the top picks to watch for the rest of 2021.
0:42.1	Then why the Bulls won, with Robin Hood coming out after the bell tonight, one argument for why irrationality is rational for now.
0:46.0	We're going to break down the noise in the hood.
0:48.6	Later on, three reasons why you're dropping too much coin for Coinbase and why one Fed official
0:53.5	D is calling crypto
0:54.7	95% fraud, hype, noise, and confusion.
0:59.6	Yeah, he is not mincing words.
1:01.4	Meanwhile, Carl, the NASDAQ is alternating between losses and gains right now.
1:05.8	A down day would be its third straight day of losses as we see a bit of a pullback this
1:10.5	week. Dom, though, as I look at the charts, just trading around the flat line right now.
1:14.8	It is trading around the flat line. And from the record high levels that we've seen, Deirdre Carle, we haven't seen that big of a pullback, right?
1:21.8	Because if you take a look at some parts of the NASDAQ, specifically the NASDAQ, and this particular ETF that tracks it. Over the course of the last 12 months, we've seen some significant
1:31.9	pullbacks. It was around 14% last fall here, maybe around 10% right here, just about 12%
1:38.7	pullbacks here and around an 8% pullback earlier this spring into summer. So as pullbacks go, this doesn't seem terrible right now, but of course it could get worse.
1:48.5	So that's why some traders are waiting with a little bit more of a, I guess, patient attitude
1:53.4	towards what's developing with the NASDAQ.
1:55.3	Now, on a week-to-date basis since the sell-off began, there has been a notable part of the
2:00.5	market that has been
2:01.8	fundamentally the reason why you've seen such weakness in the NASDAQ 100. That's specifically
2:06.3	with regard to what's happening with Chinese internet stocks. We've been reporting on it for a
	...

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