Meme Mania Returns 3/30/22

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 30 March 2022

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Meme stock mania has returned to the markets. Wild swings in GameStop and AMC stock have drummed up more interest in retail trading trends; Tastytrade founder and Co-CEO Tom Sosnoff considers meme trader philosophy and its impact on market health. Plus, Joe Kernen and Andrew Ross Sorkin’s obsession with the Biden Administration’s budget proposal restricting CEO stock buybacks continues another day – this time, due to athleisure company - and maker of the world’s greatest pants - Lululemon’s announcement of a $1 billion stock repurchase program. In this episode: Tom Sosnoff, @tastytrade Andrew Ross Sorkin, @andrewrsorkin Joe Kernen, @JoeSquawk Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C, NBC producer Katie Kramer, today on Squawk Pod.
0:08.0	Mem stock, mania has a new chapter.
0:12.0	There's only one rule if you play, don't get gamed.
0:14.8	Retail trading pioneer Tom Sosnov.
0:17.2	Meme stock, mania, for whatever it is,
0:20.5	whatever that means, it's just good for business. I don't know about that though they're
0:25.0	gonna meet some winners but there's gonna be a lot of losers. And the B word yep buybacks
0:30.2	still they pop up in all kinds of stories.
0:33.0	So there's two issues.
0:34.0	Uh-oh.
0:35.0	Who put Lulu Lemon in here with the buyback?
0:37.0	If it really isn't material, then it's a waste.
0:40.0	All that today, plus the latest in Ukraine, the BA2 COVID variant, and we're checking in with the loudest activists on Wall Street.
0:48.0	What I was going to tell you about ICON is, remember I called him a genius, but I said he's never, he's a permabare.
0:54.0	It's Wednesday, March 30, 2022.
0:57.0	Squak Pod begins right now.
0:59.0	Stand to enter by in three, two, one, few Ander.
1:03.8	Good morning and welcome to Squack Box right here on
1:05.8	C. M. B. C. Live from the Nasdak Market site in Times Square,
1:08.5	I'm Andrew A Sorkin, along with Joe Kern.
1:10.2	Becky's off today.
	...

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