What a way to come back to CNBC than with a three stock lunch - a fun segment where I more casually lay down what is really driving the big stock movements of the day.
Today the focus was on WBD - a streaming stock that has one too many legacy cable channels that steal the thunder of HBO Max. Oh, how I wish I could just own that single streamer, and not the other stuff.
Then there is Tesla. It hasn't made new highs since last November. Perhaps a few Tesla Bulls are wondering if the commodity shortages in lithium will catch up? Didn't stop the stock from popping - because people love to hear how easy it is to pass along higher prices. It's an example of what investors want, which is an inflation hedge. Just unsure the valuation isn't pricing in car sales from the next next century.
Then Carvana - what a dog! It's overpriced, not a new idea, and inflation for their average customer is going up faster than wages. Total opposite of Tesla. Then add to that higher auto loan defaults and you can see why this stock hit the bricks.