| Ticker | Direction | Speaker | Thesis | Time |
|---|---|---|---|---|
| WATCH |
Becky Quick
Co-Anchor, Squawk Box |
Amazon shares are trading lower following mixed quarterly results and a massive increase in capital expenditure guidance. The company raised its full-year spending forecast to $200 billion to ramp up AI investment. Investors are wary of this ballooning cost structure, as Amazon makes up a significant chunk of the "Big Four" tech companies' combined $650 billion projected spend. Full-year spending forecast raised to $200 billion. If AI monetization accelerates faster than expected, the heavy spend could be justified. | 5:44 | |
| NEUTRAL |
Joe Kernen
Co-Anchor, Squawk Box |
Bitcoin dropped 13% in a 24-hour period (worst since mid-2022), nearly breaking below $60,000 before bouncing to ~$66,000. MicroStrategy reported a $12 billion loss. The "Trump Trade" crypto premium has evaporated. Bitcoin is currently behaving as a risk asset rather than an inflation hedge. For MicroStrategy, the risk is tangible: their average Bitcoin acquisition cost is $76,000, meaning their holdings are currently underwater, though Michael Saylor claims to have cash reserves for two years of obligations. Bitcoin fell from highs of $125,000 to ~$60,000 (a ~50% draw-down). MicroStrategy's average cost basis is $76,000. Continued volatility could trigger forced selling or liquidity issues for leveraged holders; conversely, institutional adoption could stabilize the price. | 0:14 | |
| WATCH |
Robert Frank
Wealth Editor, CNBC |
Elon Musk's wealth composition has flipped; 2/3 of his net worth now comes from SpaceX (valued at $1.25 trillion), not Tesla. There is a "Key Man" distraction risk. Musk has 80% voting control at SpaceX compared to ~25-28% at Tesla (even with his new pay package). The Tesla board explicitly noted in a proxy that a compensation plan was needed to prevent him from prioritizing other ventures. As SpaceX grows, Musk's financial and voting incentives align more with space/AI than EVs. Musk owns ~43% of the merged SpaceX/xAI. His stake there is worth $540 billion vs. $300 billion in Tesla. If SpaceX goes public or continues to outperform, retail investor interest may shift from Tesla to SpaceX, draining the "Musk premium" from TSLA stock. | 6:52 | |
| LONG |
Andrew Ross Sorkin
Co-Anchor, Squawk Box |
The organic nutrition company is IPOing today, pricing at $18/share (mid-range), implying a ~$720 million valuation. The company positions itself as a "mission-driven" Public Benefit Corporation that is disrupting the baby/kid food aisle. They claim to be profitable on an adjusted EBITDA basis and are expanding distribution beyond premium grocers (Whole Foods) into mass market (Walmart, Kroger) and government assistance programs (WIC). Distribution in 25,000 stores. Top-tier velocity in their category. The company is still losing money on a GAAP basis (though they cite non-cash derivative charges as the cause). The baby food sector is highly competitive with low barriers to entry. | — |