In this episode, Scott Becker breaks down nine major stories impacting the markets, from a steep market downturn and Tesla’s sharp drop to airline struggles and the latest moves by Reddit, Robinhood, and Trump Media.
Chapter 1: What major stories are impacting the markets today?
This is Scott Becker with the Becker Private Equity and Business Podcast. Today's discussion is nine stories that we're following today. Again, it's Tuesday, March 11th. Thank you for listening to the Becker Private Equity and Business Podcast. First, the markets tanked yesterday on multiple concerns, government shutdown, tariffs, reduced government spending, recession fear, and more.
Chapter 2: How did the markets perform yesterday?
We did record a podcast on this yesterday. the markets crashed, are we tired of winning yet? Second, the S&P fell 2.7%. The NASDAQ dropped 4%. Third, Tesla dropped nearly 15.5%, a bad day in Tesla world. Fourth, the major airline stocks all dropped significantly yesterday based on concerns regarding slowing air travel. United, for example, dropped 6% yesterday and was down nearly 5% pre-market.
Chapter 3: What are the implications of Tesla's stock drop?
Fifth, even though earlier today the futures pointed up, now they point down and are a disaster. The market's a disaster currently, down about 1% at the S&P. We'll see how that plays out throughout the day. It's been a volatile market. Sixth, planetary technologies dropped 10% yesterday. This brought it down to essentially flat year to date.
Chapter 4: How are airline stocks affected by market conditions?
Seventh, two well-known names, Reddit and Robinhood, each dropped around 20% yesterday. Eighth, another well-known name, Trump Media and Technology Group dropped nearly 12% yesterday. He is having a challenging week. Ninth, two of the firms whose numbers we never fully trust, that's RH and Carvana, also dropped about 11% yesterday. RH, great story on them.
Chapter 5: What is the current state of the futures market?
They spent on their cash reserves from nearly $1.5 billion to aggressively repurchase their own shares. They retired more than 20% of their own shares. Their CEO, in what some might think of as a sleazy move, sold shares into the repurchase, raising further questions about whether he's aligned with shareholders or not.
But again, those are nine of the stories we're following at Becker Private Equity and Business today. Thank you for listening to the Becker Private Equity and Business podcast. Thank you very, very much.