Closing Bell Overtime: GameStop Fires Its CEO; Wolfspeed CEO On Why His Company Is Positioned For The Silicon Carbide Boom 6/7/23
The S&P 500 and Nasdaq closed negative, near session lows. BofA Securities\u2019 Jared Woodard and BD8 Capital\u2019s Barbara Doran break down the market action as investors wait next week\u2019s Fed decision. GameStop reported a Q1 loss and announced it was firing its CEO; Ryan Cohen was named executive chairman. Wolfspeed CEO Gregg Lowe discusses his company\u2019s strong stock performance and why silicon carbide is key to its growth story. Affirm shares rallied on news of a partnership with Amazon Pay; MoffettNathanson analyst Eugene Simuni on why it doesn\u2019t change the macro headwinds facing the industry. The WSJ reports Amazon is planning an ad tier for its Prime Video streaming service; the reporter behind the scoop Jessica Toonkel joins to discuss the broader implications for the streaming players. RBC Capital\u2019s Helima Croft on the impact of the Saudi output cuts and where oil goes from here.