Independent Oversight Board and why unions are suddenly cropping up in and around silicon valley. Were going to start with this disconnect between fundamentals and valuations hit me baby, one more time traders are looking at this market like a genie in a bottle. Britney spears and Christina Aguilera songs, youll get them looking at a chart of tesla or snowflake or gamestop up over 100 im not trying to say this is the dotcom boom all over again but this is what it was like when you had certain stocks which had a clear story behind them soaring beyond the story, beyond the fundamentals, and you had people who made money in that name justifying staying in it and valuations that the math couldnt make happen i know you remember. I do, but, jon, were going from talk of a bubble to talk of a mob. I mean, andrew left notable short seller, he wrote a letter to shareholders on try day saying theyre going to stop coming to gamestop because the angry mob that owns the stock has committed multiple
Covid surges to its highest level since 2018 disney jumping after hours julia . Better than expected top and bottom line results. Ending the quarter with 73 million subscribers. The company also announcing it will forego its next semiannual dividend and thats due to the cause of coronavirus. Disney shares giving up some of those gains, now about 3. 5 . The ceo saying in the call going on right now, the disney direct to consumer business is its bright spot. The growth of disney plus speaks volumes about the strength of our ip, our unparallel granting franchises and creators, all part of the disney difference that sets us apart from everyone else and when you look across our full suite of streaming services, we have exceeded 120 million paid subscriptions worldwide. Meanwhile, a smaller than expected loss. Losing 2. 4 billion due to covid, but down from the 3. 5 billion. The Company Also Reports that they are reassured by booking trends at Walt Disney World and urging california to allow
Tens of billions of dollars. You said thats it thats the top of tech the nasdaq was 4400 that week uber High Valuation Companies and use that as your justification to reposition your portfolio. Im not fan of it. Doesnt really work. It makes for better tv than it does for portfolio you dont take a step back and say its 100 times sales this thing has an incredible first day and you dont take a pause. Its not the whole landscape and say i dont think this is good weve seen a million kpaemexs of this. Its not in the s p 500. Investors dont own this in their 401 k its not an important stock. Its a great stock to watch fp lets address it in those terms. Now the stock is getting crowbared. Kramer makes a point. We have this tweet he had on nvidia as well and zoom. It underscores, if you will, i think, very well the landscape and what may be a pull back in some of these loved names especially over the last few months for what its worth, i dont know what octa does. I think that is indicative too
And the u. S. Keep talking trade, we dont know when this thing ends or how much further it goes. Sit back and enjoy the ride, today is august 25, the dow of 378, yesterday up another 150th opening bell today, the s p record high close up some more this morning. The nasdaq looks like its going to be down a few points. Were going to show you apple, premarket trading worth 2. 15 trillion and there is speculation that there is iphone production to mexico, more of that in a moment. At the convention the republicans attacked the biden harris ticket as a looming disaster. Dynamic speeches from tim scott and nikki haley and the president as surprise appearance and a vocal audience preview will see it. Day two, melania speaks tonight, rand paul, eric and tiffany trump, you will see that too. I gotta say this, our heart goes out to louisiana, mississippi, texas and neighboring states. Marco faded but here comes laura. Landfall probably tomorrow, could be a cat two or three storm the people of ga
Intraday high. Its remarkable to look at that but its al important to think about where we could go from here my director of research took a look at the median time when you print a closing high until the nec time its actually on average about 90 days. Were 126 days out from that date that you mentioned. Every time the stay at home stocks look like they will roll over, somebody comes in and buys them look at zoom that looked like it was in trouble. Teledoc had this really nice comeback then you think about docusign, peleton. All of them when they looked shaky have came back those stocks have been fairly important. Take a look at Home Builders you cannot find a name in this index that doesnt look incredible on a technical basis right now. The industrials are trading sideways after digesting a huge move to the upside materials are hanging in there they are at record highs they are not going anywhere. I think when you consider the balance of all the Different Things that look good right n