Gamestop Game On (Again); David Rubenstein; AB InBev:This Bud’s For You

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 25 February 2021

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

The online-driven trading frenzy around retailer GameStop ignited again following the announcement of next month’s departure of Chief Financial Officer Jim Bell. CNBC’s Jim Cramer questioned “are prices real?” on Wall Street anymore, as he exasperatingly tries to make sense of GameStop’s renewed rally. Democrats are set to advance President Joe Biden’s $1.9 trillion stimulus proposal on Friday without Republican support. David Rubenstein, a co-founder of the Carlyle Group, discusses the potential economic impacts of the legislation and the fight over the $15 federal minimum wage. Anheuser-Busch InBev reported better-than-expected revenue for the fourth-quarter, but AB InBev CEO Carlos Brito says consumers are itching for bars to fully re-open. Plus, vaccines, variants and the investing wisdom of 97 year old Charlie Munger.

Transcript

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0:00.0	This is
0:02.0	This is Squawk Pod. I'm C. M. C. Cady Kramer.
0:05.0	Today on our podcast,
0:07.0	David Rubinstein, Private Equity Pioneer on a tale of two Americas.
0:11.0	I think on the whole, the stock market's not our biggest
0:14.5	problem. The biggest problem we have right now is the economy is still way down by
0:18.8	COVID. The world's largest brewer, Anheuser-Bush-Inbev CEO Carlos Brito on the global beer market.
0:26.0	Consumers are really looking forward to a time where they could go again to a sports ball, to a ball game in the stadium, to their bars and meet physically their friends, to traveling.
0:36.0	So all those things are going to be there. And GameStop is back. The Reddit Rebel Love Stock on the way up, the tweets, the triumphs. Why? What does it mean?
0:47.0	Yesterday I agree with Dave Portnay. He was saying, who sounds the bell?
0:51.0	Who tells everybody when they're supposed to buy? How does this happen?
0:55.6	Those stories plus vaccines and variants and the investing wisdom of 97 year old Charlie Munger,
1:01.8	a busy pod today.
1:03.8	It's Thursday, February 25, 2021.
1:06.9	Squawk Pod begins right now.
1:09.7	Good morning, everybody.
1:10.6	Welcome to Squawk Box here on C NBC I'm Becky Quick along with Joe
1:14.4	Kernan and Andrew Ross Sorkin.
1:16.0	First up today on the podcast whoa game stop. The stock, the video game store at the heart of the Reddit Rebellion, has had a wild ride this last month, but shares of the mall retailer are soaring after doubling during yesterday's session.
1:32.8	So much movement that the stock was halted
1:35.0	during the last half hour of the trading day Wednesday
1:38.2	and closed higher by nearly wait for it 104 percent. So what gives? Two days ago Game Stop announced that
	...

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