Short Seller Andrew Left Speaks Out Amid DOJ & SEC Charges 01/10/25

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 10 January 2025

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Department of Justice and the SEC have filed civil and criminal charges against short seller Andrew Left. In a rare pre-trial interview, Left sits down with Andrew Ross Sorkin to discuss the case, the trades in Nvidia, Tesla, and others that are under scrutiny, and what the litigation means for other activist short sellers, including their posts on social media. Plus, the latest jobs report blew past expectations, CEOs and companies are donating to President-elect Trump’s inauguration, and Rep. Dusty Johnson (R-SD) has introduced a bill that could pave the way for the U.S. to purchase the Panama Canal, while the public considers the implications and debates the necessity of buying Greenland. Andrew Left - 18:30 In this episode: Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Zach Vallese, @zachvallese

Transcript

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0:00.0	Bring in show music, please.
0:04.5	This is SquawkPod.
0:06.4	I'm CNBC producer, Zach Vileasy.
0:09.1	On today's podcast, noted shortseller Andrew Left.
0:14.0	His activist reputation hinges on exposing corporate fraud or vulnerability,
0:19.0	and betting on the stock of a target company declining.
0:23.2	Everyone has to trade with their own risk tolerance.
0:25.4	I can't tell you how to trade.
0:27.1	I wish I had Warren Buffett's patience.
0:29.2	Now, for the first time, he is responding to federal charges that his outspokenness misled
0:35.2	investors about his intentions.
0:37.2	The stock's 140, and I said, I think the stock's going to trade at 160.
0:41.3	What part of that's unrealistic? And I sell it in the 150s. How is this a civil charge? How is that a criminal charge?
0:48.3	Plus, the rest of today's news. Steve Leesman on the surprisingly strong jobs number spooking rate-cut-ready investors.
0:57.0	The Fed had pushed aside this notion that employment was a potential source of inflation.
1:02.0	These kind of numbers kind of bring it back.
1:05.0	The tech leaders writing checks for the Trump inauguration.
1:09.0	And Panama is your canal for sale?
1:11.5	Make them an offer they can't refuse. All that and more. Today, it's Friday, January 10th,
1:18.5	2025. Squawk Pod begins right now. Stand back you by in three, two, one. Cue, please.
1:27.7	Good morning, everybody, and welcome to Squawkbox right here on CNBC.
1:31.7	We are live from the NASDAQ market site in Times Square.
	...

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