you've looked at that as a post-pandemic play, too. >> definitely. >> doc, wrap it up for us. >> cree, the stock's doubled this year and i see more upside next year. >> good stuff. everybody's in the green today cree up 6% "the exchange" begins right now. >> thank you, scott. here's what's ahead on "the exchange," i'm kelly evans the chase into year-end. investors squeeze every last drop out of this year's winners. will it come to a screeching halt in january? we'll ask. bitcoin soars to new highs extending a wild rally the last few months we'll speak to paypal about what's driving this demand ipos, 65 tech companies made their debut raising $39 billion.

can names like instacart and robin hood keep the strength going into next year we have a preview. let's begin with a check of the markets. dom chu has that for us. >> the color of the day is green. a lot on the screens dow industrials up just 105-point gain not that bad it's about a third of the percent upside s&p, 3716 the last trade there, 0.50% gains. nasdaq for the composite index leading over 0.50 gains. s&p and nasdaq hit record intralevels today as well as the russell small cap. what's happening with the home builders specifically lenar because it came out with better than expected profits and revenues. you can see here there's been this kind of consolidation move in recent areas and months, so

we're waiting to see if that blackings o breaks out for the home builders you mentioned the bitcoin. this is the bitcoin up 11%, off the session highs today. at the highest level we were north of $23,700 per token at the lows during the pandemic, it was below $5,000 per token. look at that over four times, nearly five times return in just that amount of time. we wonder whether or not things are bubblicious, but it's giving some investors a pause i'm glad you'll be talking about what's driving that demand it sure feels bubblicious. >> high profile investors from stanley druckenmiller to bill mueller of miller value partners to bull tudor jones have shown support for bitcoin and that's

opened the flood gates for institutional money to start pouring in this week scott minor from guggenheim partners said bitcoin could soar to $400,000 can bitcoin live up to the hype? joining me is the co-founder and ceo of pasco, the cryptocurrency partner for paypal it's great to have you listen, let's say i'm somebody whose pension fund has now 1% allocation to bitcoin. should i be comfortable with that >> i think having a small allocation of bitcoin is something everybody should have. at the same time, it's really a call option. the plan in only gold is you want a value the point of having bitcoin is it could become gold we don't know if that's going to happen it's possible it might not on the other hand it's been around 12 years. it's lived through a lot of turmoil, a lot of tests.

it's the best example of digital gold what we've seen through covid is people's lives are more and more digital. they are online. they need to have a digital store value. just as importantly, everyone has seen what's going on with the federal reserve balance sheet and people are looking for ways in which they can protect their assets bitcoin is an example of one way to do that >> absolutely. it's interesting it's quite simply the herd mentality where people realize, there are going to be 21 million of them bill mueller said there's 47 million millionaires in the year if every millionaire on the planet just wanted one, they couldn't get it. there's not enough so, it's just a herd thing where everyone realizes, oh, okay, this is going to be the thing to own and so we all better own be it from that point of view, the sky's the limit, isn't it? >> there's certainly one way and the price goes up. on the other hand, there is some

fundamental relevance to what's going on there is a need for store value, there's a need for a purely digital store value. and that's what bitcoin represents so, there is, of course, other ways that can happen it doesn't need to necessarily be bitcoin so far nothing has come along that's better. in is a real chance to own something at the early stages of a transformation really you're going from an early adapter community to the main street. i think that's partly what paypal enabling this for the users is bringing to light there's maybe a40 or 50 million people involved in the bitcoin ecosystem up until now now we're going to something that looks like billions of people that's a huge shift. >> to your point, that's actually part of the case for bitcoin as well, that so much of the supply right now -- how many current coins are there? >> i think 18 million, roughly we're almost all the way through the minting process, yeah. >> so we already minted 18

million and there's very little left at this point so many of those coins are owned by retail aficionado with pretty low turnover if you're part of the institutional investor class that wants access to bitcoin, it's like a hot ipo that only puts a sliver of shares out on the market there's not a lot of available supply so, i just wonder if this suppsuppl supply/demand mismatch is part of the store it's fascinating as it came back to a mysterious creator who we all hope has this fixed at 21 million. what if it's not we've been asking this question for ten years, but the whole story is just so strange if you really look at it. >> there's a lot of fascinating things about this story. the code itself is publicly open sourced. you can look at it and so 21 million is a hard cap here you think about institutional investors coming in, that is the

real story right now it's very exciting to see this asset class go from an early adopter community of mainstream. that's why everyone got involved that's why we created pacsos, paypal coming in, there's going to be a lot of other very large institutions coming in in 2021 this is just the tip of the iceberg here and like i said, i mean, there's a finite amount of supply. that's what makes bitcoin valuable you know there can't be more printed. you know it's always going to be there. that's a real use case that's needed right now. >> quick last question, because i love this. you're so knowledgeable about it now the question has escaped me. there's so many great things i wanted to ask. i guess it was this. let's say you're someone who owns a bitcoin owner and you have a lot of money riding on this what's the guarantee that can't

be hacked or you don't have some government or authority come in saying, we're not comfortable with what we're seeing here and we're taking that away from you. it's unlikely it would happen in this country but it could happen in others. what would you say >> there's a number of components there i think it's important to realize, bitcoin is still early stage. this is not a guarantee that it's going to go up. there's lots of things that can happen now it's been around for 12 years and the bitcoin code itself has never been hacked you have a $400 billion bug bounty program and it's never been hacked. people have lost their keys. it's like forgetting the code to your safe deposit box so that can happen but the actually code itself has been remarkably resilient and secure certainly regulators and governments could come in and change rules and that's always a risk i think that at the end of the day, this is private property in the u.s. we respect that. other places they don't. but the beauty of bitcoin is uts electronic and self-sovereign.

that means you can sell it and move it around if you want in some ways this is a great way to create freedom in a lot of countries they don't have it where regular freedoms are taken away from people that's part of the use case here for sdw that's digital gold and not physical and can be confiscated right from you. >> for sure. although authorities say, we don't want those freedoms. this is going to be playing out for a very long period of time thank you for joining us today really appreciate it. >> it's great being on thank you for having pe. >> the ceo of pacsos. let's keep the momentum going from bitcoin into stocks, it seems to be about high-flying names. the momentum etf is up 80% from the pandemic low take a look at holdings by weight tesla hitting another all-time high today also the tech giants, apple, amazon, microsoft and nvidia my next guest are among these ranks. joining me is jerry castilini.

do you want to offer a broader comment on the rush into year end into bitcoin, into some of these mega ipoed into some of these companies like tesla i just named what is it telling you >> well, what it tells us, and you think about this, kelly, we've never been in a situation before where there's this much cash or something like cash sitting on a sideline in front of what is a really high probable explosion in economic activity there's too much uninvested capital. the first places they go are to speculative things like bitcoin. the next place they go are to tried and true growth names like the teslas, like the microsofts. the fact they're going strong all the way into year end probably reflects that, okay, i have to buy something, that will be it. i think our bigger question is, what about some of the things that could happen in january and throughout the rest of winter?

what do we do after we see this move -- moving some of that capital back into the markets. >> absolutely. that's the trillion dollar question at this point jay, let me just ask you about the dollar i don't want to overlook what's been happening there the last couple of months as well everything priced in dollars has to go up if the dollar is weakening. dollar index broke below 90 it's the key level psychologically although 60.5 is probably what we're eyeing you have stocks going up, bitcoin going up, playing cards going off at record prices is that a large piece of what might be going on with this whole momentum trend or is that a side story >> well, here's when you think about the dollar, the simple way. the dollar was strong through the better part of the last decade simply because the u.s. economy was the best place for someone to make a dollar investment. our economy grew better. our economy had a more stable financial system if you remember, there were parts of the world economy you

wouldn't trust with anybody's money starting around 2010 think about what's happened over the time frame, though all those economies have now recovered. they not back into themselves some much greater stability. the u.s. has done fine, but what's interesting interesting is how much the nonecd nations have recovered china, india, brazil, those are economies lapping last year's growth rates if you think about that, it only makes sense investors will start to broaden out their dollar investment into some of these economies. i think it also gives you a great thought about what will happen in the united states because we will ind this with our vaccine and be in probably as good or better position than those economies. i think there's two waves of growth coming that will impact investors. it will first surge into the overseas market and flow back

into the united states wait until you see what happens to some of the cyclical names as we move into the winter and spli spring of next year. >> i have to leave it there. just so everybody knows, you have names like microsoft, tesla and nvidia on the growth side. you like mastercard and las vegas sands on the cyclical side appreciate your time thank you so much. jerry castilini. the news i mentioned is on google deirdre bosa has the story. >> google has been hit with its third anti-trust lawsuit in just a few months this one is coming from -- it's being led by the colorado attorney general and a group of 38 states and territory. the suit claims google, we've heard this before, has illegally maintained a monopoly and general search through anti-competitive conducts and contracts. the a.g. said at a press conference not long ago that the group would be filing a motion to consolidate its case with the

justice department's recent lawsuit against google so, kelly, the pressure continues to build, particularly on google amid heightened anti-trust of big tech yesterday a group of ten republican a.g.s sued google targeting its ad tech business and allegedly an illegal deal with facebook. we're already seeing some reaction from some of the smaller rivals that have hit hard against google over the last few years yelp says google's betrayal of the web directly harms consumers. we can see alphabet shares are down about 0.8%. we should remind our audience, this has been an underperformer when it comes to those faang names and also the nasdaq. >> thank you for bringing that to us. the third now for google we appreciate it. coming up, shares of papa john's have been red hot as delivery sizzles amid the pandemic the stock is up nearly triple. we'll speak with the ceo about

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welcome back, everybody. more than 100,000 restaurants have closed since the start of the pandemic while it's been challenging, the fast food stocks and delivery names have fared better, especially pizza chains. papa john's has been a winner. let's get more on the state of the consumer and the future of the company with rob lynch welcome. >> thanks for having me. >> the biggest question hanging over a success story like yours, what happens in 2021 if people go, i never want to eat a delivery pizza again >> i don't think i've ever heard those words before, kelly. i think pizza is here to stay and papa john's is going to continue to take care of our customers. as you heard today, we just launched our new stuffed crust, which is our biggest product launch in the history of the company. it's going to hit our

restaurants early next year and everybody is excited about taking care of our customers. >> didn't stuffed crust launch at domino's in the '90s? >> no, domino's doesn't offer stuffed crust, pizza hut does but this is papa john's stuffed crust. our crust is really the reason for being. we make it fresh every day, never frozen, six simple ingredients, no artificial colors, no artificial flavors and now we just put cheese in it this is the first time there will be crust like that, hand-stuffed at the restaurants every day. >> i am not a stuffed crust girl but i take the marketplace's point that that's what people want here's my question you guys have had such strong business this year you had to hire a ton of people at a time when a lot of different people are looking for help with delivery and that sort of thing what's that been like? what are your staffing needs

like and are those people going to be kept on or do we know yet? >> for sure. through the pandemic our focus, 100% focus has been on taking care of our customers, our employees and our communities. it's been a challenging time for all of us. and i'm proud of the fact we've been able to hire almost 30,000 people during the pandemic, helping out the communities in need we're really bullish on next year, driven by innovations like stuffed crust. and our business continues to thrive we'll continue to need more people and continue to create more jobs for people in need >> what would say about the economics of a company like doordash and others. i would assume your model is superior but that's a big thing to directly employ that many drivers. so, what's the merits of your model versus those who outsource to awe third party >> we do outsource, we do leverage and partner with

doordash and postmates and uber eats and all the big aggregators. the customers that come through those channels tend to be very incremental to our business. they go to their platforms and they order our brand we're actually one of the largest brands on uber eats and doordash we think it's a strategic platform we'll continue to leverage we'll benefit from their growth and they'll benefit from the great products we bring to their customers. >> what's the top product order during the pandemic? >> i mean, pepperoni pizza is always number one. the special product we -- two special products we launched this year, papa dias, which are hand-held folded pizzas and the shaqaroni, partnering with shaquille o'neal and raised over $3 million to give back to the communities we served. very happy with that and we'll be bringing that again next

year. >> he's amazing, the brands he chooses, the way he partners with people, maybe directs the create, everything from top to bottom thanks for joining us. we appreciate it. >> thank you for having me happy holidays >> you, too. coming up, 2020 was a great year for tech ipos which raised more than $38 billion and there are plenty of high profile names waiting in the wings that are expected to take the plunge in 2021 we'll tell you who and how that might go next. plus, a global chip shortage is threatening everything from cars to tvs to smartphones why and who's inmobeg st impacted that's ahead new projects means new project managers.

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community in the mirror. welcome back to "the exchange." let's get a quick check on markets. dow was hanging on to 0.4% gain. nasdaq up two-thirds not a lot of consistency it's not one of these value-on/value-off momentum days we have energy, one of the only two laggered, down 0.4 communications services is the other one. shares of rite-aid are sharply and they beat. the retail pharmacy and pharmacy services segment are among the tailwinds. shares are up nearly 12% shares of accenture are higher beating on top and bottom line and raised their full year

forecast demand for digital and cloud services continues to be a bright spot amid the pandemic. accenture up 8%. shares of microstrategy are moving higher as bitcoin soars earlier this year the software company began using its cash to buy bitcoin. it's up 89% in three months, 2% today. the stock is on the smaller side with market cap of just $3 billion. time for cnbc news update with scott wapner. >> here's what's happening this hour home depot agreeing to pay $21 million in fines to settle charges its contractors violated rules on lead paint removal during home renovation the biggest penalty ever. in north carolina police say one officer was killed and another wounded when a carjacking suspect open fire on them the suspect also killed. the city's police chief choked back emotion when talking about the 25-year-old fallen officer >> there's no playbook for this.

concord police department is comprised of a resilient bunch we're going to get through this. we're a big family >> tough story there china says its mission to bring moon rocks back to earth is a complete success the probe carrying the precious cargo landed in northern china this morning it is the first time samples from the moon have been retrieved in 44 years. that's our cnbc news update. back to you. >> thank you very much we'll take a quick break back after this. talk about the red hot housing market where it's not just buyers getting priced out. we'll explain the dynamics of the new way to flip homes. first, never mind clothes or makeup some instagram influencers are now being tapped to post with the covid-19 vaccine at cdw we get you want happy, productive employees.

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welcome back it has been a super strong year for the tech ipo market with 65 companies making their debut

since january, up from 49 a year ago. investor appetite is also there with the companies raising nearly $40 billion this year for a 50% increase over last year. will the rush continue into 2021 are the delayed offerings of a firm and roadblocks a sign of trouble. for that i'm joined by founder and editor-in-chief of "the information. great to see you i actually want to start with this rival of peloton. what's it called i wonder if that could be a problem people go, i diplomat know there was a rival to peloton. >> you know, i think there are many rivals to peloton, but i'm not -- i'm not calling that one in particular, but i'm bullish peloton. to answer your question, i think it's still go time for the tech ipo markets into next year investors are champing at the bit. for many of them, this is the period they've been waiting for after a decade plus of

illiquidity so we think there's a really robust. >> there's mirror, you could say there's apple fitness. we won't dwell on peloton per se the one i'm also very, very interested in and i'm curious if you know it's going to come or not is stripe because they're doing some super interesting things in the fintech infrastructure space with shopping online. is stripe one you think is pretty likely to go next year or could that still be a ways off >> i think it could. it's definitely one to watch the thing about stripe is it's really in control of its own destiny and that decision is really going to come around the collison brothers when they want to be public if you're looking at these valuation right now in the public markets, you'd be silly to not take a serious look stripe is one on our list to closely watch. other fintech names you

mentioned, affirm, i think co coinbase could be on the list. i would not rule stripe out for next year, though. >> i wonder about instacart because that's a huge, i imagine, pandemic beneficiary, and if they're thinking maybe we get out there while the story's still strong for us as opposesed to one everybody is talking about reopening. >> absolutely. instacart is pretty long in its process, we hear, in getting out huge pandemic tailwinds. how sustainable that is, we'll see. i think that's a big question hanging over the public markets right now in tech. look at jordach, you've seen the tailwinds but how sustainable are they instacart is one to watch. huge boost and very solid model overall so i think they could have some solid performance. >> and what about, perhaps, the most controversial one on the list, i've saved for last, robin

hood every day now -- today was t the -- yesterday it was regulators and massachusetts going after them >> i think those are the questions, but then you look at the prospective of, you know, whether these companies go or not, it's about valuation, it's about relative valuation to the markets and if they're going to get money for cheaper, from public investors who frankly have -- i think they're champing at the bit a little bit. there hasn't been a lot of new ipo inventory. everyone is looking for diversity from the faangs. that's behind these really tough valuations that have sent people in silicon valley a little surprised. i think that's the calculus in the boardroom. surely these companies are going to get their act together. no one wants to see another

wework >> yeah, yeah. that's for sure. and it's mazing that as busy as it's been, we just showed all the names on your list that there are so many waiting in the wings. thank you so much. we appreciate it online influencers are known for selling products like clothes or costco items or makeup but now they're being hired to promote covid-19 vaccines let's get to julia boorstin. >> social media influencers took to instagram and tiktok to advocate for people to wear masks and stay home. now they are being used to influence for vaccines >> if you want to reach the under 35 crowd, this is the only way to do it the under 35 crowd is not watching government officials doing press conferences. they're not watching tv.

if they are, they skip through ads. even digital media strategies don't work with the under 35 crowd, the gen z and younger millenials. >> mad works with lauren cooper with about 35,000 followers on instagram and was paid $500 for posts about wearing masks. after losing her grandmother, she hopes to advocate for vaccines as well. >> i know a lot of people, a lot of followers have expressed concern about the speed of which the vaccine was kind of done and i'm here to say that, you know, through the research and the information that's out there, it's really not scary. >> the ad council known for creating smokey the bear is putting together a new $50 -- $50 million vaccine campaign and will be briefing influencers including some very big celebrities on how to direct their followers to trusted -

>> that's fascinating, julia my former neighbors have turned into a couple of tiktok influencers. we talk about disclosure and people send you products and you get paid for it and that would extend to covid vaccines as much as anything else i'm curious on that note, tiktok is going to have a live shopping event with walmart how does that work and -- granted, this is how people are out there and raising money and consuming content on tiktok but it's still pretty funny to think about. >> it's a combination of a bunch of trends. one, we saw social media platforms make it easy to purchase things this holiday season then you have the fact there are influencers selling things on tiktok and instagram today walmart announced shopping on tiktok will be possible they're doing an hour-long live stream it will be kind of like a qvc or home shopping network type thing. you'll have influencers that will be showcasing fashions that

you can buy at walmart and you'll be able to buy them in the tiktok platform. you won't have to leave and go to walmart.com you'll be able to do it within that streamed experience i think this kind of curated shopping with influencers is going to be a trend that will definitely grow in the next year, kelly. >> from possibly bei ining bannt hosting walmart shopping events. what a year for tiktok julia, thanks. coming up, the global chip shortage barking up the right tree and millions depend on aimdz during the pandemic. should their employees be considered essential it's coming up in "rapid fire. some things are good to know. like where to find the cheapest gas in town and which supermarket gives you the most bang for your buck. something else that's good to know? if you have medicare and medicaid you may be able to get more healthcare benefits through a humana medicare advantage plan. call the number on your screen

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michael santoli. first up, another pet ipo or a pet spac this time bark box, a subscription box for dog is going public. shares will list on the nyse under the ticker bark. chewy was top pick and raised target to 110. dom, what do you say >> it's a 250% rise for chewy so it makes sense that some pet care companies want to take advantage of a rising tide i'm one of those people who does it, i have two dogs at home. i know mike santoli has pets at home as well we're one of millions of americans out there who continue to spend on pets so it perhaps makes sense that you're trying to strike while the iron is hot. yes, those are my two dogs they're older now than they are in that photo, but still they

are some cute pups, which is why i continue to spend money on them. >> leslie, what about the spac vehicle? >> that's up about 20% today, indicating that the investors in that spac are excited about the prospect of getting into this space and new investors would come in and bid that thing higher that's usually indicative of the investor sentiment surrounding these deals. the spacs don't usually move too much until a deal and announced and then you can see whether its a company its investors approve of or, perhaps, one they want to sell out of and aren't willing to stick around for a while to see that thing through clearly investors see this as a good deal, despite what i was surprised about which is the $1.6 billion valuation on this company. >> mike, it's everything the street loves it's netflix

it's adobe, right? >> actually, what i think we have to decide about is bark box the stitchfix for dogs or the blue apron for dogs? those had very different investment outcomes depending on which one you picked it tells you a lot about the spac formula which is tap into something that's a very well acknowledged trend, consumer trend. also something that has a good public comment that you want to get the halo effect from by the way, the spac mechanism is something that gets us and everybody talking about this in multiple stages. we wouldn't necessarily be talking about a $1.6 billion private acquisition if it weren't for the spac acquisition. it's not the way it used to be >> because you just have to throw enough absurd elements together, you have subscription boxes for dogs, you have spending up 21%, you have a pandemic, you and a story, my

friend. >> and you have a pronounceable ticker symbol in human language, bark. >> does anybody else wondering if this is like this generation's direct listing? why do it if you can just do it through a spac, right? >> whatever the hot new thing is - >> the flipside is it's dilution that would be the only downside, i guess, to a spac versus a direct listing is the dilution aspect, the fact that you have to pay and promote the people with the spac and the expenses as well. you're looking at perhaps 7% for the underwriter fee and transaction fee. it gets expensive. >> still it's up 20% on the street let's talk about a much more serious story. if you're planning on buying a laptop, better do it right now because a global chip shortage is reportedly leading to production delays for many gadgets we use every day

this includes not just laptops but other kinds of computers, cars, everything else chips go into because consumer demand has been so strong manufacturers are warning supply chain issues could delay shipments for weeks or months. there's a whole host leading to it, including lockdowns, a fire at a chip plant. will this blow over? >> it will blow over every time there's been a supply disruption in this kind of industry, especially with computer chips, it's been rectified with more capacity and resolution to some supply chain bottlenecks. the real issue is whether or not you have this consumer tilt and focus because of things like tablet and pcs it's arguably one of the reasons you're seeing prices elevated for the stocks of many of these companies. the semiconductor etf is at or near record high

many largest components are there right now. it shows there's pricing leverage and pricing power for computer chip makers until there's a catch-up in the supply we don't see it soon soon but it will rectify itself at some point. >> what would you add, mike? >> is there a mores essential commodity than chips right now in the world we have more oil than you need, the supply chain is relatively tight at times when it comes to semiconductors and shows you why the stocks have been so strong also low inventories allot a cross of physical goods is one of the stories for next year you'll get a snap-back effect and that's true when it comes to chips. u.s. theater chains could reportedly slash ticket prices for warner bros. movies to as little as 3 bucks and keep the bulk of the profits for

themselves theater owners are considering this move in retaliation for warner media's decision to release its upcoming films on hbo max the same day they hit theaters including "wonder woman 1984" set to release on christmas day. amc warned they could run out of cash bit end of this month leslie, other than the drama of the back and forth here, you also have hbo max working to get on roku and doing so just in time so everybody can watch this -- stream this movie when it comes out >> it's a fascinating battle because you look at who has the leverage and who believes they have the leverage in this industry i can't imagine walking up to a box office when everything returns to normal and asking how much would it cost to see this movie versus this movie and then, i don't know, do you choose the movie based on which one costs $5 here in new york it can cost as much as $18 to see a movie back

in the yesteryear. it's a fascinating next step in this process even if you do take home 80% of the revenue from a $5 ticket, my guess is during the pandemic you're not really getting the volume you would need to be sustainable at those prices. i kind of wonder how the economics really work from a movie theater standpoint. >> mike, i wonder, do you really want to poke the bear right now? can these theaters really afford to upset hbo any further or is it that they can't afford not to >> i agree it's an odd time to do it and it's a big bet warner is always saying that this is going to be their plan for 2021 if you're a theater owner and you think the in-person theater experience is going to be something people are going to be wanting to pay for down the road in the long term, the next year, presumably warner will have a slate of movies you want to show and did you just provoke them by downgrading the price of their

movies i think it's a very risky bet right now and seems like one made out of emotion and spite and not long-term calculation. >> exactly we'll see. they might just feel at this point as though they have so little to lose they have to do what they can. finally, amazon is working to get to the head of the vaccine line amazon requesting its warehouse, data center and whole foods workers all be designated as essential. they say it's front line employees who helped get consumers necessary products throughout the pandemic and arg gus their status as second largest employer in the u.s. we should have a decision shortly as the same panel assigned the first wave of vaccinations is expected to vote soon on who should receive the next round dom, it seems to me that if we're going to lob monopoly claims and anti-trust claims at amazon, the flip side of the coin is, they are essential. >> we did a similar story on

uber and lyft, some ride-sharing companies saying their employees should be categorized as essential as well because they are providing essential services like food delivery and in some cases transportation in those markets that can actually do it. i guess this is a big deal here because it really does suggest that we have changed our habits as a society here in the u.s., especially given the covid pandemic ordering online and having it delivered. there's a strong argument to be made that those types of delivery employees, not just amazon and warehouse workers, but fedex and postal service and u.p.s., and in transportation logistics, they are deemed essential for our well-being as a country. >> the issue is -- even if they are, we just said they are the second biggest employer in the country. is there enough vaccine to go around >> by the time it becomes relevant to make the call -- there are so many amazon

employees. it would apply to employees in similar roles. it's when you are in the mass distribution phase amazon would jockey for a better position in line on behalf of their employees to make things easier i just don't think it's -- they won't be next. it's a matter of you still wait four months or five months as opposed to four weeks or five weeks. that to me is the calculus >> last word to you, leslie. >> i think mike is right it's a matter of weeks it's hard to say who is essential, how to draw the line, different corporations they will jock jey for their employees to be toward the front of the line. do you mandate your employees to be vaccinated? then as an employee, are you mandated to get one? >> amazon may get it

i don't want to upset the pet owners, but barkbox probably should not we will leave it there house flipping could be on the verge of flopping thanks to high prices and low supply there are hot spots across the country. we will tell you where next. you can watch us live on the go using the cnbc app any me a bk aouple. that came from me. really. my first idea was "in one quarter of an hour, your savings will tower... over you. figuratively speaking." but that's not catchy, is it? that's not going to swim about in your brain. so i thought, what about... 15 minutes. 15 percent. serendipity. 15 minutes could save you 15% or more on car insurance.

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welcome back housing continues to be a bright spot -- excuse me -- as mortgage rates hit another record low last week. the 15th record low of 2020. if you are looking to cash in, flipping homes is harder than it used to be hi, diana. >> home flipping dropped overall in the third quarter of this year gross profits for those who did flip soared to the highest level in 20 years. that's according to adam data solutions. just over 57,000 u.s. homes were flipped in the quarter a home bought and sold in the same 12-month period those flips represented just over 5% of all home sales, which is down from nearly 7% in q2

the drop likely due to the shortage of homes for sale, especially on the lower end of the market where flippers like to play. the median price of a flipped home, $240,000 here is the fun part the gross profit on the typical flip, that's the difference between what you pay and what you sell for, rose to $73,766. that is up from $61,800 a year ago. this does not include flipping costs like repairs and renovations that you will do the gross profit was the highest since 2000 and a 44% return on the investment locally, investors saw the biggest annual increases in flipping profit margins in raleigh, phoenix, kansas city, missouri and las vegas the smallest profit margins were in boulder, colorado, hilton head, south carolina, reno, nevada and killeen, texas. low mortgage rates have made things a lot more competitive. >> it's fascinating that

mortgage rates haven't gone up as rates have creeped up >> yeah. you heard from the fed yesterday that they continue to buy mortgage back bonds. that will keep rates low. >> having huge impact, those purchases are, on ways we should mention more often thanks so much we appreciate it the changing dynamics in housing. that does it for "the exchange exchange a doctor from kaiser, which helped facilitate the clinical trials, will join us wi s y aerhiquk i lleeouft ts ic break. sessing over network secu? all our techs are pros. they know exactly which parking lots have the strongest signal. i just don't have the bandwidth for more business. seriously, i don't have the bandwidth. glitchy video calls with regional offices?

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good afternoon, everybody. welcome to "power lunch. the record rally rolling on. you see green numbers against the major market indexes the s&p and nasdaq at all-time highs, shaking off the rise in jobless claims and coronavirus cases across the country they rising, too is there too much euphoria in this market for the conditions