Money Life With Chuck Jaffe Daily Podcast

David Trainer, president of New Constructs, says that while Robinhood Markets is down about 80 percent from its 52-week high and that it has room to go a lot lower, having burned through $3.5 billion in cash in the last 12 months, with just more than that amount left in cash on the books. Trainer put the company back into The Danger Zone, saying "We're really not sure what is going to prop this zombie stock up much longer ... '' even as "it is priced as if it is going to go to the moon." Also on the show, Mark Fleming, chief economist at First American Financial Corp., discusses the state of the housing market, noting that homeowners with fixed-rate mortgages aren't feeling the pinch of inflation, while homebuyers are being squeezed hard by it and home-sellers are watching markets change rapidly. Fleming thinks mortgage rates have "mostly found their new normal," noting that current levels of between 5 and 6 percent are in line with historic norms even if they are dramatically higher than consumers have been