
Motley Fool Money
Amazon Joins the $2 Trillion Club
Jun 27, 2024
Tim Beyers, an investment analyst at The Motley Fool, discusses the astonishing 60% surge in Chewy's stock, fueled by strong market sentiment and short squeezes. He also dives into Amazon's ambitious strategy of launching a budget product line while enhancing its AI capabilities. Meanwhile, William Cohan, a financial journalist and founding partner of Puck, shares insights about the leadership challenges at Paramount Global and the fallout from their failed buyout talks with Skydance Media, revealing the tensions and financial struggles in today's media landscape.
31:29
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Quick takeaways
- Chewy's surge due to short squeeze and Amazon's AWS driving market cap growth.
- Paramount Global's challenges from failed M&A deals and strategic changes for sustainable growth.
Deep dives
Short Squeeze Boosts Chewy's Value
Chewy, a pet retailer, experienced a significant increase in value over a short period due to a short squeeze. Following an impressive earnings report on May 29th, 2024, a surge in buying activity from institutions led to a dramatic rise in Chewy's stock trading volume. Institutional funds poured money into the stock based on positive results, causing a short squeeze effect.
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