Doubt but No Fear, SpaceX Reports, Netflix Cleans House, AI Bond Vigilantes, Bending Spoons

Josh Brown (0:15)

Yeah, look at all the gangsters in the chat, Michael. You see them?

Michael Batnick (0:19)

I do. Hello, hello.

Josh Brown (0:21)

Everybody's here. All the pounders are in the house. Quick shout out. Derek Sip says, it is time. You're damn right. We got people from Portugal in the chat. Micron Millionaire is here. Jerry Jindma is here, speaking French, okay?

Who else? John Mellott says, let's get down to business. Good idea. We have a lot to get through and we gotta get Michael out of here on time because he is going to the banner raising at Madison Square Garden.

Is this like one of the best days in your life potentially?

Michael Batnick (0:53)

Yes.

Josh Brown (0:54)

Are you going to cry? I know you, you are going to cry.

Michael Batnick (0:57)

Oh yeah.

Josh Brown (0:58)

I saw this, I saw this, I thought it would make you laugh. John, LeBron James squeezes eyes shut to avoid catching glimpses of Philadelphia during commute.

So it's pretty perfect except they show him in the back of a car when in reality he is commuting via helicopter as one I'm not sure what the other one was for their home team, for their home city. What a joke. I was asking you before, do we have a rivalry with Philly? You said not really. I agree with that. But tonight, it's fucking on.

Michael Batnick (1:35)

Let's go.

Josh Brown (1:36)

All right, let's go. Let's get down to business. We got a sponsor, let's do the sponsor.

Michael Batnick (1:41)

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Josh Brown (2:46)

Well done.

Great read.

So I have to be honest, last couple of hours I spent in the pool, so I'm just getting caught up on the news.

Michael Batnick (2:54)

Don't worry, I got you back.

Josh Brown (2:55)

I'm wondering if those French school children found their textbooks in the Louis Vuitton store or not. I'm not sure. I also wanted to check in on how Netflix was doing because like an idiot, I have ridden this stock down from 100 I've averaged down and then today I had a mea culpa on CNBC. I sold half my position at about 70 Just, you know what?

I'm comfortable in the fact that things changed last week and that was the reason. All right, fine, let me lighten up. I did not have like a real prediction about tonight's earnings report, which we'll get to. I just said, you know what? This company, it's under siege in the stock market financially. They're doing great, but they clearly have a problem with keeping the public's attention. You could blame the shows, you could blame competition, whatever it is. In the end, they fired Bella Bagiaria, who's the head of content, they fired Daniel Lin, who's the head of the studio. They fired Daniel Lin's second chair, and then they did 1,000 layoffs, and you probably don't do that ahead of a quarter where you have great things to say. It just seemed unlikely to me, so for better or for worse, I lightened up on Netflix. I see it's down three sticks in the after hours, no big deal.

Not down enough for me to want to buy it back, but down enough to make me feel less dumb because I went in a little bit lighter. I'm still wrong, I still hate myself, broke all my own rules.

Michael Batnick (4:32)

At least for me, I also whacked it off for a 20% loss, but I did it higher. Well, whatever, I took a 20% loss in a taxable account, so at least I got it right off.

Josh Brown (4:44)

So can I ask you this before we get into the results? Do you think there's actually anything they could have said?