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CNBC's "Fast Money"

Fast Money 07/17/20

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.31.2K Ratings

🗓️ 17 July 2020

⏱️ 23 minutes

🧾️ Download transcript

Summary

Listen To Our Traders Take You Behind the Money...How To Play the Volatility...Pops and Drops: The Movers You Missed.

Transcript

Click on a timestamp to play from that location

0:00.0

And welcome to Friday in another installment of fast money.

0:05.0

Here's what's on the show tonight.

0:06.4

We're going to take a look first at the breaking news in shares of Nikola.

0:09.8

We're watching those shares down by about 15% in the aftermarket session.

0:13.7

We're getting news here that Nicola has selling shares into the open market.

0:18.8

Let's get straight to the story here and Karen Finnerman.

0:22.6

We had noted that for Nikola at least,

0:25.2

they had registered an S1 back in the middle of June

0:30.4

which would have paved the way for insiders to start selling and this is what we're

0:34.0

seeing take place in the after-hour session.

0:37.0

Right, I mean it's not surprising right given what the stock has done that insiders would want to

0:45.0

monetize some of these extraordinary gains. I can't quite tell how much is

0:49.6

insiders I think any stock associated with the warrants would seem to me to be insider selling

0:55.1

which is fine it's just you know I don't know what prices is going to get done

1:00.8

exactly but still it's just enormous from where it was I mean it

1:05.3

hit actually hit 80 then went down to 40 I mean it's just been a crazy ride so I don't

1:09.7

blame them for wanting to take money off the table but I still wouldn't I wouldn't be a

1:13.7

buyer on that offering. It allows insiders the sale of up to up to 53.4 million

1:20.8

shares so we knew that this was happening. In fact, you know, some

1:24.9

analysts that this is sort of a ticking time bomb hanging over investors and

1:27.9

yet we are seeing an outsized impact here on the shares, Tim, on a day when

1:32.0

Neo gets a a cell over Goldman Sachs because of the run and we've

...

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