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TechCheck

Cloudera Going Private, SoFi CEO on Market Debut Today & the Latest Cyberattack

TechCheck

CNBC

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

4.566 Ratings

🗓️ 1 June 2021

⏱️ 44 minutes

🧾️ Download transcript

Summary

Our anchors cover the IPO market, Cloudera going private and the latest in crypto this Tuesday morning. Then, The Margins Editor Ranjan Roy joins us to share his take on the recent meme stock rally and wage-driven inflation. Also, SoFi CEO Anthony Noto joins us to discuss SoFi’s public debut today via SPAC merger. Later, CNBC’s Eamon Javers has the story on a cyberattack targeting the world’s largest meat supplier. Plus, we have the scoop on supply chain pressure pushing up prices for Tesla vehicles. CNBC’s Kate Rooney also joins today to talk all things bitcoin as we kick off a new trading month. And our anchors tell you what to look out for when Zoom reports earnings after the bell today.

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.

0:25.5

Happy Tuesday. welcome to Tech Check. I'm John Fort with Carl Kempiniere and Dio Jorboe.

0:27.8

Today, AMC's CEO embraces Wall Street bets while also raising $230 million in a stock sale.

0:35.3

Stock up about 11% to start the month. And the Cloud Era goes

0:38.6

private. The breakdown of the $5 billion mega deal taking one more software player off the market.

0:45.0

And later, Tesla's are getting pricier. What Elon Musk is saying about the global chip shortage.

0:52.0

Well, John, it's the first save trading here in June.

0:54.2

Stocks were up.

0:55.4

Big to start this morning session.

0:57.4

Well off those highs, however, now tech once again underperforming the other indices.

1:02.8

NASDAQ has been hovering around the fly line, now down 4 tenths of 1%.

1:07.1

Bitcoin trying to regain that 37,000 level, Carl.

1:16.8

Our feed this morning begins with going public, got some new data out of Deologic.

1:19.9

It shows the IPO market has definitely cooled.

1:25.5

All of those 40% pops that we saw in January and February have basically been cut in half,

1:29.0

down to an average of about 18% at the end of May.

1:33.1

A number of recent debuts last month actually fell in their first day of trade.

1:36.1

Same story for SPACs, which, as you know, have dried up a bit.

1:43.1

Refinitive data shows only 4% of investment banks' total fees came from SPACS in April and May. That number was as high as 22% at the start of the year.

1:47.0

Some context ahead of our interview at the bottom of the hour with Sophies, Anthony Nodo, who takes his company public via a merger with one of Tumath, Paula Hapitia's SPACS.

1:57.0

John, that first day trade thing will be interesting in terms of how it affects sentiment.

...

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