Meme Stock Mania with Reddit Co-founder Alexis Ohanian; Pigging Out at the Pork Expo

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 10 June 2021

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

GameStop, Clover Health, and AMC trades are fueled by buzz on social media, but Reddit co-founder turned venture capitalist Alexis Ohanian says the trading momentum of these “meme stocks” is hardly new. Ohanian shares his outlook for tech startup investing and the blockchain, social media’s role in market surges, and mental health in the workplace. The second Roaring Twenties may be upon us, and furniture retailer RH, formerly Restoration Hardware, is cashing in. Plus, CNBC’s Jane Wells details pork prices and popularity from the World Pork Expo in Iowa. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

Click on a timestamp to play from that location

0:00.0	Bring in show music please.
0:04.0	This is Squawk Pod. I'm C NBC producer Katie Kramer.
0:07.0	Today on our podcast,
0:09.0	Mem stock media continued.
0:12.0	From the lights a little small flame. Stockmania continued.
0:13.0	Someone lights a little small flame and it spreads on Reddit.
0:16.0	Most of Wall Street, by the way, was not monitoring Reddit boards, probably until January.
0:20.0	Wall Street's power shift from concentrated to community.
0:24.6	Reddit co-founder turned venture capitalist Alexis Ohanian joins us.
0:28.2	Whether it's on platforms like Reddit or others, retail investors have more connectedness, more information, more ability to trade than ever before,
0:37.0	and this is going to be the new normal.
0:39.0	Trending trades and feelings freed.
0:42.0	I cried car commercials.
0:43.1	I know you do.
0:43.9	If I had to come out of every board meeting
0:46.3	or every work day and do a press conference for 20 minutes,
0:49.8	I would not be very happy.
0:52.2	Those stories plus get that bacon coming to you from the World Pork
0:57.2	Expo. That is the great soundtrack. I love hearing that. It's Thursday June June 10th, 2021. Squawk Pod begins right now.
1:06.0	Stand by Joe and three, two, one, his mic.
1:10.0	Here, good morning and welcome back to Squawk Box here on
1:13.3	CNBC live from the NASDAQ market site in Times Square.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.