The Old Tech Stocks Learning New Tricks, and the Stock That’s Been a “Terrible Embarrassment” For One Trader 9/1/23
CNBC's "Fast Money"
CNBC
3.9 • 1.3K Ratings
🗓️ 1 September 2023
⏱️ 23 minutes
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| 0:00.0 | Right now on fast, they say you can't teach an old dog new tricks, but no one |
| 0:06.2 | seemed to tell that to Dell shares rocketing to a record today with the |
| 0:09.9 | resurgence and legacy tech names says about the market. Plus, fueled up crude |
| 0:14.7 | prices jumping to seven month highs today. And oil stocks are in rally mode |
| 0:18.4 | again. The chart master says there's still more upside ahead for the |
| 0:21.5 | sector. And later, a total embarrassment. That's what one of our traders |
| 0:25.3 | called shares of Walgreens. Why they're saying this could be the worst equity |
| 0:29.2 | investment they've ever made. I'm Courtney Reagan in this evening for |
| 0:33.3 | Melissa Lee. This is fast money live from the Nasdaq market site on the |
| 0:37.2 | desk tonight. We have Steve Brasso, Guy Adami, Tim Seymour, and Karen Fireman. |
| 0:42.0 | And we start with what might be the surprising leadership of old school tech |
| 0:46.0 | shares of Dell jumping 21% just today. So we're in past its previous records |
| 0:51.6 | at way back in January of 2022. And it wasn't the only name seeing |
| 0:56.2 | strength this week, Intel jumping 10% since Monday, making it the best |
| 1:00.1 | performer in the Dow Cisco up almost 4% posting its highest close 19 months, |
| 1:04.9 | even IBM was higher. It's now at more than 20% from its lows of the year. |
| 1:09.8 | So is there wisdom that we can gain from the performance of these elder |
| 1:13.3 | statesmen of the market? Guy, I'm going to start with you. What do you |
| 1:16.5 | make of some of these moves here today? |
| 1:18.3 | Where is this week? You come, you say elder statesmen and then you say |
| 1:22.4 | Guy, you're going to start with me. So I understand. I'm an old dude. I get |
| 1:25.7 | a Courtney. But that's okay. What do I make of it? |
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