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Closing Bell

Closing Bell Overtime: Interviews with CEOs of Tilray, Crowdstrike; Why Bitcoin Crossed Above $30,000 For The First Time in 10 Months 4/11/23

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 11 April 2023

⏱️ 45 minutes

🧾️ Download transcript

Summary

Stocks finished mixed and near worst levels. Vital Knowledge’s Adam Crisafulli and Cantor Fitzgerald’s Eric Johnston battle out where the market goes from here in a bear versus bull debate. Evercore analyst CJ Muse on why it’s a “stock-pickers paradise” in the chips sector. Tilray shares fell today. CEO Irwin Simon discusses the latest quarter and big acquisition. CrowdStrike hosted its first ever government summit. CEO George Kurtz joins from there to talk public/private partnerships in cloud and cybersecurity. Why Weight Watchers soared nearly 60% higher today and our Meg Tirrell discusses the weight loss drug market with the FDA Commissioner Dr. Califf. Plus, former Kansas City Fed President Thomas Hoenig on upcoming inflation data, short seller Brad Lamensdorf on CarMax and our Mackenzie Sigalos on bitcoin’s recent rally.

Transcript

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0:00.0

A mixed session for stocks is the S&P clings to 4100. That's the sport

0:04.5

hard on Wall Street but the action is just getting started. Welcome to

0:07.4

closing bell over time. I'm Morgan Brennan with the John Fort. We've got a

0:11.4

big show coming your way. We're going to talk to the CEO of Pot Company

0:15.2

Tilray whose stock is down sharply today on the back of a revenue miss.

0:20.0

Plus crowd strike CEO George Kurtz is going to join us following the company's government

0:24.4

summit today in Washington.

0:26.6

Let's get straight to our market panel.

0:28.2

Joining us now are Adam Chrisifoulli from Vital Knowledge and Eric Johnston from Candra Fitzgerald. Good afternoon to you both, I'm going to call this a Bull Bear debate here.

0:36.4

Adam, you're bullish, constructive, I'll call you.

0:40.8

What do you make of the market now?

0:42.2

What would you be doing?

0:44.0

So I think that as we head into earning season, that's really going to be the next major catalyst.

0:49.0

You know, I think where I differ with the consensus most comes down to this particular

0:54.4

earning season being relatively unique versus prior pre-Covid ones and I think

0:59.3

that a lot of major headwinds that companies have been facing

1:03.2

throughout the COVID bubble, the boom era of COVID,

1:06.1

that had helped drive revenue,

1:07.2

but it actually driven costs up even more,

1:09.4

compressed margins and weight on earnings.

1:11.6

I think a lot of those headwind ones are now in the process of reversing.

1:15.8

So costs, supply chains, inventories are normalizing, dollar pressure is easing, and then China,

...

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