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CNBC's "Fast Money"

Google’s Chrome Dilemma… And MicroStrategy’s Crypto Connection 11/21/24

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.31.2K Ratings

🗓️ 21 November 2024

⏱️ 42 minutes

🧾️ Download transcript

Summary

Shares of Alphabet getting hit as the Department of Justice looks to have Google divest its Chrome.browser. What it could mean for Search… and how the proposed break-up would impact the tech giant. Plus Bitcoin keeps surging. How $100K could change the crypto landscape, and how Bitcoin proxy MicroStrategy is betting big on the continued climb. Fast Money Disclaimer

Transcript

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0:00.0

Live from the Nazak market site in the heart of New York City's Times Square, this is fast money.

0:04.1

Here's what's on top tonight.

0:05.4

A target on big tech, alphabet, and Amazon plunging today as regulators across the globe take aim.

0:10.8

Will we see breakups for these BEMUs and what could it mean for the stocks?

0:14.5

Plus banking on gains, regional and money center banks leading the markets today.

0:18.5

Is there more juice left in the trade and which name should you bet on? And later, a Bitcoin Bonanza, the crypto hitting another all-time high and inching

0:25.2

closer to that key $100,000 mark. Meantime, a key reversal in shares of micro-strategy. What's next

0:31.2

for the stock? I'm Melissa Lee. Come to you live from Studio B at the NASDAQ on the desk tonight. Tim Seymour, Karen Feinerman, Dan Nathan, and Courtney Garcia. We start off with a massive fallout from Google's antitrust woes,

0:41.2

shares of parent company Alphabet, dropping 5% erasing $100 billion in market cap in just one day.

0:48.1

This coming after the Department of Justice recommended that Google sell its Chrome browser

0:52.1

to fix what regulators call an illegal monopoly and online search.

0:56.2

Reports of the DOJ recommendation had come out earlier in the week, but the stock wasn't rattled until today's session.

1:02.2

Amon Javers got more on this. Amen.

1:04.8

Hey there, Melissa. Remember, this is just the DOJ's ask, and Google will have a chance to respond in court.

1:10.0

Ultimately, it's going to be up to the judge,

1:11.9

and we don't expect that decision until the summer of 25. What the government is asking for here

1:16.7

is a breakup of Google, and we haven't seen something this sweeping since the government

1:20.3

ordered the breakup of Microsoft in the early 2000s. But remember, that decision was overturned on

1:26.3

appeal. Now, what the DOJ is asking for here is to force Google to sell the Chrome browser,

1:31.2

which has about 65% of global browser market share.

1:35.1

And they're also asking for Google to sell Android or for the government to put in what they call behavioral remedies

1:41.5

that would block Google from using Android to favor its own search

...

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