“Is this madness or Sparta?”
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 17 September 2020
⏱️ 16 minutes
🧾️ Download transcript
Summary
Snowflake more than doubles on its 1st day as a public company. Sony announces two versions of the PlayStation 5 to compete with Microsoft latest Xbox news. Dan Kline analyzes those stories and weighs in on the latest in the world of sports betting as DraftKings, Caesar’s Entertainment, ESPN, and Penn National Gaming all make headlines.
Transcript
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| 0:00.0 | It's Thursday, September 17th. |
| 0:04.0 | Welcome to Mark Foolery. |
| 0:05.0 | I'm Chris Hill. |
| 0:07.0 | With me today, our man in Florida, it's Dan Klein. |
| 0:09.0 | Good to see you, my friend. |
| 0:10.0 | Nice to see you, it's hot here, but we're going to cool things down. Or heat things up, I'm not sure which way we want to go. |
| 0:17.0 | Yeah, let's not, let's try not to put people to sleep. |
| 0:20.0 | Although every once in a while I'll hear from a listener like, this is the last thing I listen to at the end of the day |
| 0:24.4 | as I drift off to sleep. |
| 0:25.5 | It's like, well, as long as you're listening. |
| 0:27.7 | We've got video game news. |
| 0:29.8 | We have news about the other type of gaming, but we're going to start with the biggest |
| 0:34.6 | software IPO ever. |
| 0:37.0 | Snowflake, the cloud software business went public on Wednesday at $120 a share and finish the day at $255 a share. |
| 0:48.0 | It has come down a bit from that. |
| 0:50.5 | Doubling on the opening day, you tell me Dan, is this madness or is this Sparta? |
| 0:55.0 | No, this is madness. This is people who don't know anything about how stocks work, |
| 1:00.0 | wanting to get the latest shiny new toy. And I'm not saying Snowflakes not a good company but they |
| 1:05.0 | priced it where they felt the value was that's how these things work and people look you |
| 1:10.1 | see it all over Facebook how do I get in in? How can I get in? I want to buy shares. |
| 1:13.7 | And they don't know what they're buying. None of these people sat down and read the |
| 1:17.6 | S1 and went, oh hey I think this is worth the $240 a share I got it. And look, |
... |
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