CNBC's "Fast Money" JPMorgan’s Sharp Reversal… And The Latest Entry To The Weight Loss Drug Battle 5/20/24
May 20, 2024
JPMorgan's stock dip due to CEO's comments on succession plans. Hims & Hers entering weight loss drug market. Market analysis, AI trade, retail dynamics, Target's price cuts, and potential company acquisitions. Copper market review, wellness stock surge, and pharmacy startups in retail sector. Final trade recommendations and financial insights shared by panelists.
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JPMorgan's Valuation
- JPMorgan Chase reached all-time highs, then tumbled after CEO Jamie Dimon stated he's not buying back stock.
- This suggests the bank may be overvalued, echoing broader market concerns.
Dimon's 2016 Purchase
- In 2016, Jamie Dimon bought JPMorgan stock when the price was $58.
- The price never dropped that low again, indicating his market timing.
Dimon's Influence
- Jamie Dimon's pronouncements are often seen as insightful.
- His decision not to buy back stock suggests caution, not necessarily a negative outlook.