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CNBC's "Fast Money"

Dollar Store Doldrums, and Pot Stocks Light Up for a Second Straight Day 8/31/23

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.91.3K Ratings

🗓️ 31 August 2023

⏱️ 45 minutes

🧾️ Download transcript

Summary

Shares of Dollar General dropped to three-year lows after slashing sales and earnings guidance. So does this sector tell the true tail of the consumer? Plus marijuana stocks lit up again today as the Department of Health’s recommendation yesterday seemed to raise hopes for legalization. We talk to George Archos, CEO of cannabis producer/retailer Verano, to find out what it means for the industry. Fast Money Disclaimer

Transcript

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0:00.0

Right now on fast dollar store doldrum shares of low price retailers tanking

0:05.9

today as dollar general sounds the alarm over demand from its shoppers are

0:09.6

these stocks telling us the true tale of the American consumer will debate

0:12.8

that plus in the clear talk of a recession has been put on the back for

0:17.4

in recent weeks but is the economy really on steady ground David Rosenberg

0:21.0

isn't so sure he's here to tell us what has him seeing red flags and later

0:24.4

move over barb and high where there's a new blockbuster in town how Taylor Swift

0:28.9

could give the movie business another big boost just when it needs it the

0:32.1

most I'm Melissa Lee this is fast money we're live at the Nasalek Market

0:35.3

site on the desk tonight Tim Seymour Karen Feinerman Dan Nathan and Guy Adam

0:39.1

me and we start off with a big warning from dollar general shares plunging

0:42.9

after the discount retailer slash its earnings guidance for the year the

0:46.0

company is seeing slowing sales and rising inventories as its core customer

0:49.3

gets pinched the stock falling to its lowest level in over three years and it's

0:53.9

not the only retailer under pressure five below dropped six percent today

0:57.3

after its earnings report and dollar tree which worn last week about

1:00.6

challenges for its consumers was down another percent so are the dollar stores

1:05.2

telling the true tale of how strong the consumer is or isn't guy what do you

1:10.4

think welcome back can find oh thank you and oh nice to be with you now

1:15.3

we're not in Pippin remember remember that when she was on or I do yeah

1:19.0

where's the things for her to be president united didn't work next time it was

1:23.2

better for us though she's still here I think it's telling the tale without

...

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