Squawk on the Street Volatility from AI to the Fed, Bitcoin Extends Sell-Off, Lilly Hits $1T Valuation 11/21/25
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Nov 21, 2025 Market volatility takes center stage as AI jitters trigger a sell-off, even after Nvidia's strong quarter. Bitcoin struggles, dipping below $82,000, setting a harsh tone for crypto. Eli Lilly celebrates a monumental $1 trillion market cap, marking a major milestone. Meanwhile, the potential for an interest rate cut gains attention after optimistic comments from the New York Fed. The hosts also delve into competitive AI landscapes and bids for Warner Bros. Discovery, highlighting the shifting tides in tech and entertainment.
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Island Reversal Wiped Out Leveraged Gains
- The market experienced a sharp island reversal that wiped out gains and punished leveraged retail investors.
- Jim Cramer warns that many leveraged positions and margin traders were eviscerated in the sell-off.
Sell Liquid Winners To Raise Cash
- Sell what has a bid when forced to raise cash instead of holding illiquid names.
- Cramer advises using liquid winners like NVIDIA to meet margin or cash needs.
AI Competition Sparks Valuation Jitters
- OpenAI competition and Google-Gemini progress created fresh valuation jitters across AI plays.
- Cramer highlights an Altman memo and Information reporting as fueling concerns about AI funding and expectations.