York stock exchange. Very monday morning and its going to be a very busy week were going to start with some talk about technology and antitrust. Our next guests latest column says, are we finally getting serious about big tech monopolies is it too late cnbc contributor kara swisher joins us this morning. Good morning, kara good to see you. Hi. Good to see you. You ask, are we finally getting serious about mo monopolies and then you go on to say, youre not holding your breath and no one in Silicon Valley is holding their breath no, were not theres been so much suggestion about the ftc and the justice department, i just wanted to point out some information for them about how much of a cheap date consumers have been to these Tech Companies and whether we need morecompetition. Its something ive been talking about the idea that we should have a new social network, that we should be able to have a new Search Engine and have some choice and theres very little choice in many, many too many sec
As you mentioned, shares popped around 50 when compared to the socalled Reference Price of 26 a share. But no investigator actually made a quick oneday gain of 50 , as they might have in an initial public offering. In fact, the most any Public Market investor would have made buying and selling slacks shares yesterday is about a 9 return thats because the Reference Price is more of an arbitrary one set by the Financial Advisers in the nyse and a direct listing, so no shares were actually sold at that level. The shares opened at 378d 38. 5 rose as high as 42 and ended at 38. 62 to many, thats the beauty of the direct listing strategy versus the more traditional ipo. Theres no favoritism on the part of the underwriters and theres no money left on the table, because slack didnt raise capital in the first place. Overall, slacks debut was viewed largely as a success. And further evidence that the direct listing model works there were no crazy price swings Trading Volume was manageable, and t
Upcoming star wars film. First a look at the markets. Wall street seeing a sharp sell off today adding to significant decline for the week of around 3 across the board. One of the weeks biggest losers is netflix. I want to get straight to matt miller in new york. It is like a bad movie. First it seems like things are coming back around and then it all goes back down again. Matt exactly. We lost 500 points on monday and it looked like we were going to gain it back by the middle of wednesday. However, that turned around and now were down for the week about 560, 550 points. So pretty rough on the s p as well. A drop of 3. 4 for the week. And netflix has just gotten absolutely crushed. I mean, its not fair to say the stock has been completely destroyed since year to date its still up more than double. But it is in, officially in bear market territory, since its come down from its august 6 highs more than 20 . A lot of the problem is competition here. I mean, so much talk has been about app
Upcoming star wars film. First a look at the markets. Wall street seeing a sharp sell off today adding to significant decline for the week of around 3 across the board. One of the weeks biggest losers is netflix. I want to get straight to matt miller in new york. It is like a bad movie. First it seems like things are coming back around and then it all goes back down again. Matt exactly. We lost 500 points on monday and it looked like we were going to gain it back by the middle of wednesday. However, that turned around and now were down for the week about 560, 550 points. So pretty rough on the s p as well. A drop of 3. 4 for the week. And netflix has just gotten absolutely crushed. I mean, its not fair to say the stock has been completely destroyed since year to date its still up more than double. But it is in, officially in bear market territory, since its come down from its august 6 highs more than 20 . A lot of the problem is competition here. I mean, so much talk has been about app
Upcoming star wars film. First a look at the markets. Wall street seeing a sharp sell off today adding to significant decline for the week of around 3 across the board. One of the weeks biggest losers is netflix. I want to get straight to matt miller in new york. It is like a bad movie. First it seems like things are coming back around and then it all goes back down again. Matt exactly. We lost 500 points on monday and it looked like we were going to gain it back by the middle of wednesday. However, that turned around and now were down for the week about 560, 550 points. So pretty rough on the s p as well. A drop of 3. 4 for the week. And netflix has just gotten absolutely crushed. I mean, its not fair to say the stock has been completely destroyed since year to date its still up more than double. But it is in, officially in bear market territory, since its come down from its august 6 highs more than 20 . A lot of the problem is competition here. I mean, so much talk has been about app