Squawk on the Street SOTS 2nd Hour: CoreWeave IPO, Lulu’s Consumer Warning, Trump vs. Big Law 3/28/25
Mar 28, 2025
David Snyderman, Senior Managing Partner at Magnetar and a leading investor in CoreWeave, shares insights on the company's highly anticipated IPO, which marks a significant moment in tech offerings. He discusses the strategic shift from Bitcoin mining to AI computing and what it means for market stability. The conversation also dives into Lululemon’s concerning consumer warning, and the tension between President Trump and major law firms, highlighting the potential risks for corporate America amid shifting political winds.
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Policy Uncertainty Impacts Markets
- Policy uncertainty under the new administration is impacting markets and consumer confidence.
- This uncertainty stems from fluctuating policy decisions regarding tariffs and spending cuts.
Attacks on Institutions Hurt Business
- The administration's attacks on law firms and universities create uncertainty, hurting business.
- Altman criticizes these actions, citing the importance of these institutions for innovation.
Lululemon's Challenges
- Lululemon faces challenges from eroding mall traffic and competition from brands like Alo and Vuori.
- Randy Konik notes Lululemon's high sales per square foot make them vulnerable to traffic declines.