Netflix Plummets, Peloton After the Sell-Off, Nasdaq Correction Deepens, Intel’s $20B Bet, and Carl Icahn Says Some Market Multiples Are “Crazy”

On a big day full of tech news, Jim Cramer and David Faber led off the show with Netflix: Shares tumbled more than 20% in reaction to the company’s subscriber growth outlook. The anchors discussed what’s at stake for the streaming landscape and brought back the “penguins” as analysts lined up to downgrade Netflix. After Peloton shares fell 24% Thursday on CNBC’s report that the company is temporarily halting production on its key products, Peloton announced it is reviewing its production levels – and CEO John Foley fired back at the CNBC report. Also in focus: Nasdaq on track for its worst week since March 2020, Intel to invest $20 billion in two new plants in Ohio to manufacture advanced chips, buying semiconductor stocks on the dips, “the danger of SPACs,” and Carl Icahn to CNBC on the markets: “Some of the multiples are crazy.” Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.