Leveraged ETF Casino, Apple Breaks Out, Sentiment Plunges, Government Stake in OpenAI?

**Josh Brown** (0:14)
Okay. Ladies and gentlemen, welcome to What Are Your Thoughts? One of the flagship programs here on The Compound Network. Super excited to have you guys here for the live chat with me as always.
My cohost, Michael Batnick. Michael, say hello to the folks.

**Michael Batnick** (0:34)
How are we doing, everybody? Hope you enjoyed your 4th of July.

**Josh Brown** (0:37)
Yeah, you know what? This was a good one. I like when it's on a Saturday.
The chat is going wild right now. Mike, did you know that?

**Michael Batnick** (0:45)
Always.

**Josh Brown** (0:46)
Absolutely. Nancy Rogers Curry says, Halo had a great day. How about that? Yeah, we're going to get into that today.
Seapall Breezy is talking reckless in the chat. Listen to this. Listen to this comment. Apropos of nothing. As long as my daughter beats teen pregnancy, then I will not have to worry about any Trump account setups. Dude, what? Steve Starkey, hello from Nashville.
We need a palate cleanser after that one.
All right. All the gangsters are here. Good to see you guys. Thanks for joining us. We appreciate it. Sven says, hey, from Germany. What's up, Sven?
Millennials Stacker says, does Josh still own Joby? He does. He's long. All right. We have a sponsor tonight. Let's get into this. Public, if you're actively involved in your portfolio, you probably catch yourself repeating the same actions, buying the dip, manually sweeping idle cash, putting on a hedge. On Public, you can create AI agents that handle all of that stuff on your behalf. Just describe what you want to do in plain English. Like if the VIX hits 25, buy a put option on the S&P 500

**Michael Batnick** (2:12)
I'd buy a call option.

**Josh Brown** (2:13)
Yeah, I know. We think differently. Don't worry. You approve the workflow and your agent handles the rest, monitoring the market, watching for your conditions and executing your strategies. Exactly as defined, Public is the world's first agent to brokerage, an investing platform driven by your intent, not just your clicks. You can also get full read and write access to your account via the Public API. Go to public.com/w A Y T to get started. That's public.com/w A Y T paid for by Public Investing, full disclosures and podcast description. All right, we're back. Weird day in the market today. It looked like it was going to be a tech sell off. And then it sort of turned into an everything sell off. I don't know.
What was your reaction to the way we went out?
Pretty disheartening.

**Michael Batnick** (3:03)
Oh, really?

**Josh Brown** (3:05)
I thought so.

**Michael Batnick** (3:06)
Micron and the rest of the basket clothes get the highs of the day. I thought that was pretty positive.

**Josh Brown** (3:12)
All right, so you got a little bounce there.

**Michael Batnick** (3:15)
No, a pretty big bounce. Yeah, I thought it was a constructive day overall.

**Josh Brown** (3:19)
Okay.
I saw a bunch of stocks fading into the clothes that weren't really part of the selloff this morning. Did we have an intraday rotation, I guess?

**Michael Batnick** (3:29)
What clothes on the lows? Name names. You didn't say shit.

**Josh Brown** (3:34)
Caught you.

**Michael Batnick** (3:35)
I caught you.

**Josh Brown** (3:36)
For real. One of the stocks we're going to talk about tonight actually went out on the lows.
Let's get into it.

**Michael Batnick** (3:42)
So wait, hold on. Who do we talk to before Belsky? Who was on the pod two weeks ago with us?

**Josh Brown** (3:50)
The week before Belsky?

**Michael Batnick** (3:52)
Yeah.

**Josh Brown** (3:53)
I feel like, was it Jerome Powell?

**Michael Batnick** (4:00)
So we were on, the reason why I ask you is because we were on with talking about Apple after the members think.

**Josh Brown** (4:11)
Nicole says, Ryan Dietrich and Sonu.

**Michael Batnick** (4:14)
Oh, okay.

**Josh Brown** (4:15)
By the way, in the chat, Nicole's birthday today.

**Michael Batnick** (4:20)
Yeah, 24 years old.

**Josh Brown** (4:22)
A little shout out for-

**Michael Batnick** (4:23)
Happy birthday, Nicole.

**Josh Brown** (4:25)
For Ms. Nicole.

**Michael Batnick** (4:29)
So we were all with Ryan and Sonu. I don't know how old Nicole is. She's older than 24, but not very much. We were on with Ryan and Sonu. And this was the day where Apple said that they were going to raise prices because memory was getting so expensive. And obviously, they're going to take some of it to the bottom line. Don't tell anybody.
And I was really surprised by the market's reaction. The market was down 6%. And I thought, huh, wow.
It's a really strong reaction for something like this. I would have assumed that demand is inelastic. Who cares? It can raise the prices to infinity. And the demand will still be there. Well, it looks like the market came around to that view.