tv Mad Money CNBC April 2, 2024 6:00pm-7:01pm EDT
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still good to own. >> dan? >> the b in blicep is baba. play it through the kweb. >> also the b in zebra. >> oh, yeah. >> the iowa women's basketball team, huge fans of "fast money." >> they deserve it. >> rtx. >> thank you for watching my mission is simple. to make you money. i am here to level the playing field for all investors. there is always and i promise to help you find it. "mad money" starts now . >> hey, i am jim cramer. welcome to "mad money." >> trying to help you save some money. my job is not just entertainment. >> what can i say about this market? the inputs today, they are plain bad.
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creeping up every day, you cannot have mortgage rates about the climb and you cannot risk having them look the wrong way if things are getting weaker sooner than expected. >> how terrible are the inputs, really? the stocks have been down so harshly with the dow looking. 9.5%. yes but not because the terrible reality. a little for the most part was he can suck consequential. payroll port, then will shift again everybody starts and will quickly cut interest rates. to stem some sort of hard landing. long-term rates which have been climbing higher since late last year it will probably top out around these levels in the 30 year 4.5%. what really matters is that we have not in so long that we have forgotten how to. tonight, let's go over the rules of the road. yes, more rules for dealing
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with. what you have to do first? you have to identify the real reasons for the decline coming up headlines. we know rates have gone up. we need to decide whether the move is significant. historically is that this kind of move typically does not do damage to the economy. earnings which is what we focus on with "mad money." >> something later on tonight and i quote, we started to see the second quarter continued in the third quarter. there is more choppiness in hiring in industry now. the next line which is our clients tell us they can't find qualified employees and are not willing to hire just anyone in wage rates with minimum wage increases and legislative changes. what do we do with that? higher minimum wage. that's going to cut into hiring and it is harder to find qualified people. that is okay. next, tesla's numbers were weaker than expected. 38 7000 vehicles when we
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expected to sell more than 450,000. the biggest in seven years. the first decline since 2020. tesla is a headline grabber. let's impact this. we know there has been an awkward pause and electric vehicle buying in our country. with real price cutting in the ev market prevents this disrupt by sabotage. for the electric course in terms of america. can blame higher interest rates. the countries turn on ev's for now. everyone wants one. doing what gm. the real problem with tesla is that it turned out to be a company and not an immortal tech company. >> this company is behind calvin klein and tommy hilfiger. give us a perfect number, absolutely. then talk about a slowdown of significant proportions. a forecast to drop 22% today. when i checked the port, though, in europe.
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we are not going to just ovulate from venice business management stronger. by thursday that were coming wait too hot going into the tour. that sure turned out to be the case, ha? the weakest the managers wow. more than 13% today. united health down over 6%. cbs which knowns aetna. another 7%? the biden administration decided a bigger rate increase for the medicare advantage plans. if your company decided with insurers, that would've been a horrific healthcare cost inflation. good news for most americans. it translates immediately to higher prices at the pump. that is why are so strong tonight. do not forget, natural gas is important to inflation and it's at multiyear lows thanks to supply to client.
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we don't fill our cars and trucks with natural gas, we do heat our homes with it. >> we've got higher rates. meanwhile, the impact of the market is what you usually spend, people pay less for stock and rates go up. we have kind of forgotten that happens. in the playbook of our checklist, has this pullback created any? bottom 50 performance came out today. the biggest decline, found something to buy. you have my investing club, colleague, and performer, jeff marx and i did a video for club members this afternoon highlighting the opportunities we are looking at and what we are pulling the trigger on. we would need more for tomorrow to make this happen. some of the stocks ere down but not enough to make a difference for cost basis, meaning that we have already paid for shares. when you get a verdict like they got for the administration
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last night, enough time to get their acts together and do some downgrading. that tomorrow's business. better opportunity. how about this retail off pbh? the american company down today. that is challenge maker. it is 30% of its sold in europe. you can't touch it. i do have my own with a great opportunity to start dumping inventory. my file for bankruptcy. said inventories were. so your price change will be able to. last night, i mentioned that prolific buyers of their own stocks of any kind of rate weakness. >> three days ahead of the. maybe monday. finally, what i would look at is a selloff in special situations. last night and this morning, we huddled with the power company. it is the energy transition company with natural baths gas.
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electoral demand that comes from the data center. seem terrific before i laid a selloff. let's go full-circle. first, we have to expect a 10% pullback according to. we sure to get that, right? second, we didn't see many stocks who are not down. instead, we saw pockets of serious weakness. finally, don't forget the market was up about coming in. special deal for any investing club member who wants it. that means we were due for pullback and given it still at 2.6% with the close this evening? the move might not be over. bottom line, if today, all you can do is hunker down and with the lower prices. somehow, i think we will get them. brian in maryland, brian? >> hate.
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hey. >> i have a question about brt. specializing in water cooling data centers. do you think will become the next computer? >> here is the problem. did anticipate what went on and that is why went up 16%. it does have the legendary but i do want to see if it can pullback a little. it has been a straight line and straight lines to concern me. let's go to howard and marilyn. howard? >> booyah , jim. >> i hope everybody is doing okay. >> will become a merry-go-round stock or will it ever once more? >> i am always happy to have kevin plank on but it does seem that that is a cutthroat
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business. you've got nike not doing well, you got new balance. it is a dog eat dog world that finds himself in and that is a tough situation for anybody. let's go to kevin in new york. kevin? >> hey, jim. thank you for taking my call. i wanted to get your take on verizon. for a couple years and at the breakeven point. what you think about? >> i think verizon is getting better. i have been concerned for a while when the stock was at 8% yield that maybe something might be wrong but pulled out. a couple of things and i think it is a good situation to buy a 6 1/4% yield with a stock at 42. i like verizon. today's might seem like a perfect opportunity but i want you to be patient here. i think there are even better prices waiting on the horizon. lower prices are better prices. the price of going absolutely local. this hot commodity? i am going up the charts to
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find out. paychex is out with a small business survey tomorrow and we are getting an exclusive preview tonight on the backbone of our country. here with the industrial breaking up into burn about. ge aerospace. i am breaking it all down. stay with jim cramer . >> do not miss a second of "mad money." follow jim cramer at @jimcramer. send him an email or give him a call at 1-800-743-cnbc . missed something? missed something? madmoney.cnbc.com r) at 88 years old, we still see the world with the wonder of new eyes,
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this morning, a set of results from paychex. the payroll process for small and medium-size businesses. at first, the numbers look suboptimal with weaker than expected, cutting full-year revenue growth forecast. despite training down more than 5% emma was down 10 bucks. why? paychex revealed that the revenue shortfall was not as bad as it seemed. was not even a shortfall. from the employee retention tax credit service because there is some legislations that could affect that live business. the end of the day, the stock was up nicely, which is pretty good for paychex given it often pulls back. what will make of this quarter and what we make about businesses of this country? let's go straight with john gibson, the president and ceo to give us a. hey, buddy. >> jim, it is great to be back with you. >> i got to tell you, i always tell people please, let's hear management out. this was a very fine quarter.
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the only here that i thought it was to get the right people. otherwise, things were pretty well target, aren't they? >> yes, it was quite a roller coaster ride this morning. i am glad we got our story out. we had a really solid third quarter. we had a good, solid nine months in the fiscal year. adjusted earnings per share exceeded the consensus. we reaffirmed our guidance for earnings per share for the full fiscal year and double digits. demand was strong, new client volumes were good. our retention was in line with expectations. as you pointed out, revenue growth was impacted in our client base in an economy that is going over 3%. when you exclude the e.r. tc impact, our revenue grew 7% in the quarter, actually accelerate in the third quarter over the first half of the
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fiscal year and jim, that was in face of this hiring softness that we saw against our expectations. >> you talked about the idea of what the government does. i want to pick on the government but the number of changes that the government is doing and the inability to keep up with it, i think this is one of the secrets of paychex. it is to hard to run a business with intervening like this. >> you know, jim, i will tell you. it is so challenging to be a small business owner today. it is a very challenging labor market, difficult to find quality people. you are dealing with inflation and then as you said, on top of that, the regulations. it is interesting in our index. some of the information i must share his exclusive to you and your guests. were not going to announce the index until tomorrow morning but in our index, we actually saw a slight increase in the
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job index. in january and february, we were really impacted. we been going on for three months of moderation and was in the west and a lot of that was concentrated in california where there is a lot of things going on with minimum wages and additional regulations. we thought about 40 additional minimum wages across the country and that really put pressure on small business owners and how do they react? they reacted not hiring and they reacted by lowering the number of hours. in fact, workers earned less weekly because of the control of hours. >> economics class told you that would happen but these guys are not necessarily focused on that. let's focus on your survey. wage growth for small business workers continue to moderate but the national index, it's not bad. if i were the head of the fed, i would say things are going our way. things are slowing down. the travel slowed down since the pandemic. to me, it is a report that shows that there is good health in our country. >> no, absolutely. what i see is continued
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moderation, the things the fed has been doing is working. we see moderation but growth in the job market. i think more of the job she was a supply issue. as you said on the weight front, we continue to see that and go down to a 3.27 in march. what i look at his the weekly earned. it's what you take that counts and that is down at 3%. i do think but the fed is doing is working. it has been working, we've seen a steady decline in wage inflation over the past 12 months. >> that is exactly what we do want. i had larry think on me. he is talking about trying to find new ways to make it so people save for retirement and make it so that it's almost -- try to be like it is mandatory. any suggestions about how we can all go forward and make? we all know that people are living a little bit longer and they don't have enough money by the time they get to where they retire. >> you know, the retirement
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crisis is something we know a lot about. we are the largest 401(k) rep record keeper in the company. starter plans and we deal with employees every day in trying to educate them on the importance of saving. as you all know, out-of-state and several states have an implement in mandatory retirement. our 401(k) business is one of our fastest growing businesses in the third quarter. we accelerated again. double-digit growth for multiple quarters in a row. when i think government, we have that was passed by federal government. we are out there educating people. we need to continue to do more education. but we find as employers know they need to have an retirement plan for employees to attract employees but it is also challenging for their employees to say inflation has really put a cramp on employees being able to. we even see that in our hardship withdrawals that we have seen when inflation was really high. people going in and taking
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emergency hardship withdrawals out of their 401(k). that is overstating 10, 15, 20 years down the road. >> when i hear this, i think what can we do? >> we have to make it so if you have a 401(k), you got to contribute to it. they don't want to be in it. that is crazy. >> yeah, jim. as i said, a lot of really require that you participate in it. we know there's a lot of education that we do with both technology and to our advisory services to educate employees. i think employers need to take a more active role in making this an important part of their employee on boarding process. we are actually doing it digitally when the client employee comes on to our system or educating on the benefits and getting them signed up and getting the model enrolled. that is absolutely critical.
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>> one must question, i see you are doing artificial intelligence. i want to get a little more sense of where it is helping you and where it is helping your customers. >> yeah, jim. we've been doing this over a decade. we have over 200 ai models. launched several additional ai models in the third quarter and we have already seen the immediate benefits. focus on client retention. the way we are anticipating, we are seeing our clients and what they are asking our service providers. we are using that to create analytics to understand how we can better serve them. we are using an upsell model for our sales teams. we are identifying. this 401(k), we are seeing that restaurants have signed up for a lot of 401(k)s, we are fighting the restaurant but doesn't have one and we are going to do hey. you are falling behind. if you want to retain employees, you need to get involved. and then you look at what we are doing. we are monitoring across the board all of our medications with our clients so in real time, we can see what is going
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on and what is on their mind. that is really driving innovation and product launches. for example, compensation and what i should pay, we are watching launching a joint service where you have over 750 million compensation data points available in our recording that will give the small business owners some idea of whether they should be paying more or less to keep an employee. >> that's true. it is kind of in a amorphous area. john, thank you so much for giving us the exclusive on your index which i think shows that we are on the right track and secondly, coming on on a day where people got a great opportunity. people just don't wait until. john gibson, president and ceo of paychex. thank you for coming on. >> thank you for having me. coming up, is this market coocoo for coacoa?
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indulge in when we come back, next. (sirens) [due at target in 5!] copy that. make a hard left down the alley. network's got you covered. [please confirm requesting back-up.] -changing route. -go. roadblock ahead. ...back up, back up... reverse! reverse! next level moments, we're 30 seconds out. need the next level network. [north corridor, hurry!] -coming through! -or 3, let's go. the network more businesses choose. transplant received. at&t business.
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supply scare that sent the price beyond $10,000 per ton in recent days. 10,000. even those didn't see that coming. tough time but to be a snack maker. weight loss drugs and increase the cost of for at least right now. tonight, we are going off the charts. cofounder of the carly trading. also, author of high probability commodity trading. last year, she pretty much nailed the bottom two. three weeks ago, wow, so far, that is been. now she's got some controversial opinions on coco. >> first, i want you to take a look at the monthly chart. this is nuts. there is absolutely no logical reason for cocoa prices to have reached these heights. she thinks this move is nuts while the market assumes its demand for cocoa is not too. at the end of the day, chocolate is. if it gets too expensive, people switch to something
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else. >> according to third-party analyst, were dropped to around 4.5 million tons during. that is down 350,000 tons from the previous year. 7-10% decline in production. >> rocking from two $-10,000. cocoa prices should be capped at 6000 which is where the last resistance came in on monthly charts. we simply do not have enough supply data on the shortfall and this is a situation where high prices will result in demand destruction. i agree with her. once coco broke out about $6000, resulting in what sure looks like a move, doesn't it? you know i don't like those. an important momentum now above 90 on the monthly chart. i have actually only seen that a few times. this is wildly over. a 90 was reading is incredibly high. on top of that, you see these black lines on the chart?
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these are the bands that measure volatility. normally there is one about the stock and one below the stock price. but coco has broken out above. wildly improbable events. a very big short position. if you are familiar with, there is a visual representation. the top band is two standard deviations above the 20 month. the lower band is deviations below it. when you see the price of something smashing through the top, that is important. this tool was created to identify oversold assets. knows roughly 95% of all price action should occur within. anytime something is outside, in this business lasts long. again, why this is temporary. in the case of coca spent the majority trading outside the standard deviation and by the tail end of three standard
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deviations. again, going by basic statistics, the price and anything should be contained within three standard deviations about 99.7% of the time. coco is a total anomaly. >> she points out that we have seen this type of commodity with overreaction a couple of times. first, the economy opened up after. the same thing happened to crude oil. then, natural gas gas went to absurd levels after the seven later that year. in each case, came right back down. does not know when or where the current will but knows that in commodity markets, every is followed by an inevitable bust. >> there is something very strange that is happened with coco beyond just the price spike. noticed the risks of assets like crude oil or the s&p 500.
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these three assets are in the same direction roughly 90% of the time bite different magnitudes. this is a sign of something other than the fundamentals of supply and demand. maybe the algorithm created a linkage that should not really exist? what else might be going on here? coco as many mainly grown in underdeveloped parts of the world. here, we got to charge collective supply and demand data and commodities. they really can't do that. given 60% of the world coco comes from indonesia, we just don't have in this market. not only do we lack statistics but some might be eager to release some information in order to manipulate the price of the stuff. not to take headlines from these places and face value. on top of that, two things are quirky because they trade on the i.c.e. exchange which does the round training.
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coco starts trading eastern and closes a 1:30 p.m. eastern. obtaining real-time coco data is expensive, most users are operating on the late price information. i am talking about some murky analysis. all that said, thanks this coco rally is overshot reality. there is a legitimate reason why it happened. got hit with excessive rain, only for that to be followed by a draft to make things worse. >> the result? we are seeing the lowest recorded cocoa supplies the late 1970s. put this move in context. to go with an extremely long chart, back in 76-77. we had a powerball move with the price from $1000-$5000. it is the same move we are seeing right now, here. at that rally ultimately faded in gave way to decades of lower-
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priced. the bottom line? guess what? this coco rally will run out of steam. maybe even similar to this one and will rapidly deflate. see these leveled again in our lifetime. let's take some calls. eric in connecticut. eric? >> hey, jim. how are you? >> i am good, eric, ow about you? >> good, good. a big huskies booyah to you. >> what's going on? >> my question is about costco. a few years ago, i liquidated about 2000 shares and i am seeing a pullback. i am not sure if now is a poll good time for re-entry or if i should take my profits and pull back a little while on that? and second question, the stock split in the near future? >> i got a piece that i am doing about it costco should split a stock. i understand it. what you want to focus on is
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costco's retreat is actually at a level where we have been saying for the club that you need to start by. my answer to that is i don't want to be two-faced. i cannot walk away and tell you not to. i think it is a very good level to start. a moving oco will run out of. and when prices do start to drop, bedding we will not see these leveled again in our lifetime. how about these to keep up? today's turn. none of the legacy industrial spit to. two stocks going forward. we got some ideas. fresh off the spin. then the heirs of the stock split, as i mentioned. to put that he is leaving the charts. what do i think this move is so important as a whole? rapidfire, tonight's decision. and then lightning round. state with jim cramer .
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when it rains, it pours. yesterday, healthcare business. and today, it's power businesses. in roughly two decades of. comes in as ceo in 2018. stabilized in the business navigating the early portion of the covid-19 pandemic, he introduced his vision for how to turn things around. i was in the late 2021. separate companies for healthcare, power, and aerospace. he wanted all investment to create properties. general electronics healthcare
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traveled trust. the time of the spinoff to $88 today. telling club members you could go to $100. i like that stock. meanwhile, ge out of the same period. plan to unlock value has already been a tremendous success but now, we need to in our work on their own. first, let's talk vertebra. this is a colossus in the energy industry. it makes natural gas turbines not turbines. hydroelectric and steam power. this is the core business and fun of gas. at the same time, got very big exposure to wind turbines and electrical infrastructure. to modernize the power grid, know that these guys are getting a piece of that. there is a lot of money here. biden very various stimulus packages have put tens of billions of dollars in
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modernization that is needed. at the same time, the rise of artificial intelligence created on demand for electricity. consume tremendous amount of power. electricity demand is now growing at 5% annual clip which is viewed from ge nova. put it all together. the core power business is the vision contributing the vast majority. during up tons of cash. >> growing in the double-digit clip and while is the obvious for the whole enterprise, i think it will be to give up on it. the onshore wind is starting to turn like kashmir. i bet the offshore wind again. which would allow overall wind division to turn but offshore is very hard. by the way, it can have the greatest renewable source. we know they're going to put a
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lot of money in it and i think many energy plays involved with. >> looking for ge nova offering impressive forecast for this year and next year. this year the company spent 2- 5% for substantial margin expansion. sees its earnings before margin growth from under 2% last year to the high-end of the single digits. incredible. if you assume that means 6%, can grow by roughly 200% year- over-year. eventide is the right mentor when you're dealing with this intensive business. free cash flow for 100 million last year to somewhere between 700,000,001.1 billion this year. those numbers should get even bigger. a massive backlog. between 40 billion and equipment and 75 billion in service orders. those are remarkable. if it's longer-term forecast, this stock will be a fantastic
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by. >> be on the numbers, i like because the company is set up perfectly for the energy transition. that is expected to take place over the next two decades. the biggest business is selling natural gas turbines power plants. natural gas is already much cleaner and should be the bridge fuel of fossil fuels to alternatives. it's the decarbonization strategy that a lot of companies have. even within the power segment, ge's other businesses got nuclear, they are trying. hydro and steam and represent clean energy. i love nuclear nothing is cleaner than hydrogen power. over time, the this is, along with, will support natural gas turbines. ge's electric is perfect for that moment when building the structure. i don't know how they did that but larry did it. joining the s&p out of the gate which would alleviate you typically see in spinoff
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situations. one of the reasons why i think the stock is doing so well today. finally, i am impressed with who has made a great case for this company on wall street. he was once walking the street this morning, he was sensational. i love the board of directors. the chairman, steve angel, also the chairman and former ceo of. they've also got nick akins. remember him? the former ceo. in the former ceo of kroos. that is how i feel about ge . especially after spending most of the day in territory, into the close and ended the day, down or present 1.4 percent. a lot of volatility in the first few months, i recommend gradually. if you had a chance to buy it, said the same thing. that is not going to happen. how about the remainder of ge which has changed his name to airspace? now it's basically a play on the aircraft? the division was the crown jewel of the even when the overall business was. imposition engines for
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everybody in my body aircraft which is the top choice for country travel and international flights respectfully. they do have a fantastic service division with great cash flow. the company's exposure to boeing which seems to have forgotten. even boeing's new plane deliveries get. at the end of the day, the world is desperate for commercial aircraft and ge makes the best engines. has already been such an amazing performer over the past 15 months. some of the upside from this breakup might've already been captured in ge's monster rally. stocks tend to be volatile after a breakup. there is no need to buy ge burnable or ge aerospace. immediately if you do not own them already. let's wait and see. the bottom line, both the new ge aerospace and burn of our worth owning going forward. as long as you are about
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building a position. take your time, do not buy all at once. weight for april bockin on what you truly bounce will be on two long-term winners. i am giving my okay to do some buying. "mad money" is back after the break. coming up, hit us with your best shot. an electrified best buy writing lightning round is next.
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and then the lightning round is over. are you ready? go to the lightning round. joey new jersey, joe? >> hello, mr. jim cramer. thank you for taking my call and all that you do for us. >> how can i help you? >> with the buy rating from goldman sachs is water solutions. >> hidden gem because this producer has almost doubled. i want to hold back. it has been a great win. let's see if we can get about 10. i want to go to charlie in california. charlie? >> hey, jim cramer, how's it going? >> pretty good. i have been looking at the dividend stocks and i have been having coming back on my radar i wanted. >> take a look at how that stock has done over any period. 12 years, 15 years, it just goes down. i do not want you to touch that. that's go to chris. >> hey, good afternoon, jim cramer.
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booyah. my question is ali baba. >> is going to be ali baba. that is the one that has the most american like financials. i am not a favorite fan of chinese stocks but ali baba is the one if you want to go there. let's go to jim in pennsylvania. jim? >> hey, thank you for taking my call. >> you but you. what is going on? >> i need your opinion. would you trade amd for holdings? >> do you know what? both really great companies. i do like amd. it does seem like it is finally coming out a little. and i like. let's go to greg in illinois. greg? >> jim, what is up? a big booyah to you. thomas founded the company in 1978 and it likely is pushing all-time highs at the top.
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are you with me? >> yeah, i am with you. i think is an incredibly well- run company. everybody feels that way that i know. it has been remarkable. by the way, came all the way back from the recommended 53. i think you are in good hands there. let's go to mandy and marilyn. manny? >> hi, jim cramer, how are you? >> i'm good, how are you? >> i am. thank you, thank you so much for all your teaching and. shout out to you and your staff. >> you are very kind, thank you. very gracious. how can i help? >> i bought a share of stock today. i was wondering, should i add or another stock which might be better? the stock is tw oh. >> that's fantastic. my friend stephanie, it's only great infrastructure. i think you've got a winner. let's go to joe in new york.
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joe? >> booyah. >> booyah, joe. >> hi, listen. i love this show. i admire your passion and wisdom today. >> charter communications. >> know. that is an awful stock. that may be the most awful stock that i know. i am putting that in awful. honestly. yeah. awful. charter in that. ladies and gentlemen, the conclusion of the lightning round. >> the lightning round is sponsored by charles schwab. when we return, jim cramer is doing splits while to put lease decision is a win for home gamers . will other follow their recipe? their recipe? keep it here trading at schwab is now powered by ameritrade,. ders even more ways to sharpen their skills
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stocks splits are meaningless. or are they? the stock split two for one. you will now have two shares of the same stock each at half the price. if you split in half, you have two half and nothing more. there is not value created. the data on the sale since 2010 when the talk stock splits, the s&p 500 over the next 10, 20, and 65 days. the media stock thought a 4.1% increase over the next five days versus 80.7 four the s&p. it is hard to view this data courtesy of as anything other than dispositive. in practice, they can give your stock a nice boost. why does this matter so much? for a long time, a big shot investor paid commission by the share. high dollar stock has lower
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commissions than two lower dollar stocks after the split. to get pushback on the recommend splits because i want more retail investors to come to this machine and i am not going to give up. i even the legendary ceo recently. when i interviewed him at the huge conference two weeks ago. >> 150 people i saw this weekend to all told me please tell him thank you. they all want something that i know is industry and does not add value. they want a stock split. why cannot you give it to us? >> think about it. today is not the day to announce it, as you know. >> i know. and i apologize. >> we have done tock splits in the past. one of the things that i really like about stock splits, by the way, is that it makes for the stock purchase for our employees and others. >> yes, that is what walmart is two. we want to make sure that we take care of our employees.
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they do an incredible job for us. >> what a great time we had up there with them. >> comes to a very reasonable choice. the administrative officer at chipotle who is embraced the concept of the stock split in a 50-1 split which will be sensational for anyone who does not want to pay $3000 a share for this thing. even though this would cause a flood of new shares and a flood of commissions for the big institutions, we want to buy. jeff told us there has been no pushback whatsoever by any of his institutional investors, none at all. >> of course, they should care more about the place performance. it would be strange to criticize $100,000 today. explains to pulley is doing this because it's managers with stock but it's cumbersome and unsatisfying for them to get fractions of the share. it is bubbly to get that as part of your compensation. as jack told us, >> it was getting harder and harder for us to get the right domination.
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we were worried our top- performing manages stock in the company, we want them to celebrate our success with us and it was getting harder and harder whereas if you wanted to report a manager with $4000 worth of stock, you need to either order 4000 or 6000. >> this is similar to what sam walton, the founder of walmart had to say about the importance of the split. he thought it was essential to keep shares price at a reasonable range. so it was accessible to all business associates. he wanted to give them a sense of ownership too. that philosophy is why they did from one split earlier this year. i applaud that. i know all about the fractional shares and i am in favor of them but there is nothing like owning a full share of stock. if we are going to bring regular people back into this market, and the upturn of, and this is another thing we need to see. i know that high dollars in costco, blackrock, service now can truly benefit from an influx of new investors but we will never get these people
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unless they split their stocks. won't pushback on a winner in the natural version by many of the shares. it is time the people start giving these stock splits. it's got of making your stock go higher. >> even if in theory, it should not work that way but it does. >> i promised you i would find it just for >> right now on last call, waiting for the real pullback. stocks yielding spikes with ne big number . all you need to see and hear. a final push on for the battle for disney's art and soul. forget chocolate prices, a vital dairy product hitting the accelerator. pass the salt, detection of a major decision coming down one of the most important tax
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