Closing Bell Overtime: Tesla Earnings, Time to Sell Big Tech? 4/20/22

Closing Bell

CNBC

Business, News

4.4 • 141 Ratings

🗓️ 20 April 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Tesla shares rally in after-hours trade following a big earnings beat. Dan Ives from Wedbush Securities calls them “almost Cinderella-type numbers.” But, Eric Johnston from Cantor Fitzgerald says mega cap tech names will underperform the market going forward. Plus, is TikTok to blame for waning interest in Netflix? Michael Santoli takes a closer look in his “Last Word.” 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	Welcome to overtime. I'm Scott Wabney. You just heard the bells. We of course here at
0:03.6	Post 9 are just getting started. I'll speak exclusively today with former
0:08.1	Twitter executive Ryan Sarver on Elon Musk's bid to buy that company.
0:12.8	Remember, today it's 420.
0:15.7	We're going to be on the air at 420,
0:17.7	and we're going to see if anything happens.
0:19.0	And by the way, speaking of Mr. Musk,
0:21.3	we do begin with our talk of the tape. Tesla earnings do out any
0:23.9	moment after what was another big day for the Dow up more than 700 points in
0:28.2	just the past two days. Few earnings as highly anticipated as these.
0:33.0	We'll have the numbers as they cross.
0:34.7	We'll have the analysis from the experts.
0:36.5	We'll talk to those who own the stock as well.
0:39.5	Let's welcome in for now.
0:40.8	Wedbush analyst Dan Ives, he has a $1,400 price target on the stock.
0:45.5	We are waiting for the numbers to cross Dan Ives.
0:48.2	What are you thinking coming into this print. I don't think Dan can hear me at the moment.
1:00.1	We'll figure all that out.
1:01.9	In the moment, let me bring in Eric Johnson he's
1:03.5	with me from Cantor Fitzgerald he's the head of equity derivatives here brin
1:07.0	talkington is with me as well I know it's not like you own Tesla you can talk
1:11.8	about Tesla directly but how much is riding on this given what just happened with Netflix higher valuation high growth stocks which this thing
	...

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