Labor Market Decline Bursting Bubble Stocks

06/03/22 12:56PM EDT

With major layoffs looming across Coinbase (COIN), Tesla (TSLA), and Gemini (GMNI), watch now as Macro Financials analyst Josh Steiner and Hedgeye CEO Keith McCullough analyze the bleak outlook currently facing the labor market effected by #Quad4.

“At this point when the labor market is starting to deteriorate, you would normally have the Federal Reserve coming in dovish,” Steiner notes. “And again, it bears worth repeating, that not only are they not coming in dovish, but this is the start of quantitative tightening and we're going to get at least two 50 basis point hikes back to back here in a couple of weeks. So, there's no real let up here. The labor market is clearly declining.

“The cancelations find the cancelations. You get fired at Gemini, you cancel your new Tesla order. They all own the same thing,” notes McCullough. Everyone who's of the bubble crowd has these concentric circles of bubbles that make up the entirety of the bubble.”

For info on subscribing to Macro Pro CLICK HERE

For info on subscribing to Financials Pro CLICK HERE

CLICK HERE to subscribe to our Bitcoin Trend Tracker

(This clip is a small taste of what our subscribers get each day on The Call @ Hedgeye. In a nutshell, The Call is our morning research call hosted by Hedgeye CEO Keith McCullough with our 40+ analyst research team. It helps small and large investors alike make better decisions via unique and investable stock/sector updates CLICK HERE to learn more.)

IT’S FINALLY LIVE! We strongly encourage all subscribers to check out the new and improved Hedgeye University. Watch never-before-seen videos of Hedgeye CEO Keith McCullough explaining our Macro process.

Labor Market Decline Bursting Bubble Stocks - image002

© 2022 Hedgeye Risk Management, LLC. The information contained herein is the property of Hedgeye, which reserves all rights thereto. Redistribution of any part of this information is prohibited without the express written consent of Hedgeye. Hedgeye is not responsible for any errors in or omissions to this information, or for any consequences that may result from the use of this information.