accelerated the vaccines coming to market from ten years to eight months, so they have got a pipeline of 21 therapeutics and vaccines so it's justified. >> peter, you got a name for me and then bryn real quick. >> i'll give you lowe's. i think lowe's is going higher. >> bryn? >> at&t, hbo watching "wonder woman" same day as streaming. >> good stuff, everybody thanks "the exchange" is now. thank you, scott, and welcome, everybody it's the last trading friday of the year, and here's what's ahead today. continuing progress, headway, we're not leaving without aid. heard all of this talk out of washington for the past several weeks, but things just got a lot more complicated with the fed now getting thrown into the mix. we've got the details. plus, the battle is brewing between pfizer and the government over a lack of direction on vaccine shipments we have the very latest on this. and a profitable ipo support for airbnb and what happens if discovery can't pull

off a disney plus. it's all ahead this hour, but let's start with the markets bob pisani has the very latest for us bob? >> so we keep expecting the stimulus to pass this was december 18th we're supposed to have a deal by then and we don't, and as you just heard there from kell, we hear complicated associated now with the fed in negotiations, so the bottom line is we move down in the middle of the morning as this realization came to pass. we're off of the lows but it's still tough. up for the week a little more than 1%. dow jones industrial average up, down here, the s&p and we were lower earlier in the morning in terms of the sectors, see, here's the covid winter story, the banks, the energy stocks there's real estate. these are all associated with the problems we're going to be having in the next few months dealing with the pandemic here semis have had a very good week. become has had a new high and retail a very good week. they just love buying any of these retail -- retail etfs that

trade and primarily do business online speaking of online thematic tech etfs in general today, again, that's one of the things holding the market up so solar stocks, anything associated with cyber security, cloud computing, e-sports. these every single day people like to trade these stocks and like to own them another strange anomaly you might think given the fact that we've had a massive hack of the federal government, we're seeing cyber security stocks move to the upside even though they have proved relatively ineffective in preventing us from being subject to these massive cyber attacks very serious what's going on with that hack into the u.s. government finally big day for tesla going into the s&p 5 up. $858 billion in tesla stocks got to be bought at the close and likely a lot more than that. tesla has already done 50 million shares you're going to see a lot more than that, probably four times that much by the end of the day. going into the s&p 500 along with the rebalancing and

quadruple witching today, bottom line, guys, we're going to see a lot of money moving around right at the close and, of course, hope flip it's not going to reduce or change any share prize, but that's one of the concerns the market has. we'll be watching all of that right at 4:00 p.m. eastern time. guys, back to you. >> i can't wait to see what happens, bob thanks very much for now, our bob pisani. meantime, congress is up against key it's lines but the covid relief talks hit another snag, this one involving the federal reserve and efforts by senator toomey to restrain their covid emergency powers ylan mui is here with the very latest >> reporter: kelly, congressional leaders still say they are close to a deal and that they are not leaving up to until it's done. >> our bipartisan discussions are continuing to make significant headway toward another relief package for the american people. in fact, i'm even more optimistic now than i was last night that a bipartisan bicameral framework for a major rescue package is very close at hand

>> reporter: one of the final sticking points is this fight over the federal reserve and the emergency lending programs that it set up under the cares act. those are supposed to shut down at the end of the year, but gop senator pat toomey is leading a push to prevent the fed from ever restarting those programs again, and that is a big problem for democrats. virginia senator mark warner said the proposal to pull back on the fed's 13-3 authority would hurt the fed's independence and hurt the fed's ability to respond to future crises lawmakers will have to decide soon when they can overcome this obstacle and so many others and meet the midnight deadline otherwise they will have to pass a stop-gap funding measure to make sure that the government stays open back to you. >> and ylan, biden's economic adviser who will replace larry kudlow in that role when the administration turns over is saying that the covid-19 aid deal should not include provisions that should hamper treasury and the fed to fight crick crises so, again, sort of

taking the side that we just heard from mark warner on that i ge the question now is how much time is left, and what's -- what are the odds of the funding bill, the government funding piece of this moving forward, and now what do you think the fate of the covid relief bill is >> yeah. there is just not a lot of time to -- to get this done, especially if they are going to have to negotiate sort of over the ideological debate over the powers of the federal reserve. the language that toomey has now proposed has sort of shifted over the past few months, and now this has become an issue just over the past 24 hours, but it's hard to see this being the one fly in the ointment that makes the lawmakers miss that sort of deadline there's been so many other fights including over fema disaster money, over s.n a p. benefits as well and a lot of pieces we're trying to pull together and we've not heard any

movement or sound from democrats in terms of what length of resolution or stop gap new englanding measure they would be willing to accept. is it something that would go through the we beened or butt up against christmas? they have to make the decision and we you're pecting to hear from house speaker nancy pelosi within the next hour to get a little bit of clarity. >> doesn't sound that promising. markets have reversed course but are not sharply selling off. as congress continues its tug-of-war towards the stimulus deal stocks are pulling back after all three major averages touched highs this morning the major indices, dow down half a percent and nasdaq down a tenth of a percent right now the largest question is a hangover looming after getting through the covid talks and after tesla timely goes into the s&p on monday. with us is the president of the wells fargo institute and sherry paul with ubs global wealth management good to have you both here h.darryl, are you surprised the

markets aren't doing worse in response to what looks like kind of a mess right now on capitol hill as regards the covid bill >> yeah, what's the old washington adage, kelly, about, you know, when you reach a policy cliff, washington build more land, right, so that's probably what they are going to do this afternoon and into the weekend is likely get a few more days by themselves either through a hort-term funding ga bill or maybe they just shut the government down for a few day disease over the weekend and they get this thing done on monday, but either way, what is going to happen we think in the next week is a $900 billion plus stimulus package of which most of the components are already laid out and agreed upon, and then the $1.4 billion omnibus government spending package which will keep the government funded and open through october 1st of 2021. >> yeah. so sherry, in other words, this is just a little bit of a punt, kind of kick the can down the road into a couple of hours or a couple of days from now.

>> yeah. >> i wonder is it a bigger cliff potentially once tesla goes into the s&p just because the shares run 60% over the past month on this inclusion the is it it's a buy the rumor and sell the fact event on monday, it will be a headwind for the whole market. >> well, i think that we've got a lot going on, right? we've got some kicking and screaming here as we kind of end the year and i think it's important from a political stand point. i think it's important that we quickly go back and understand that that -- that the recovery has lagged the market recovery and reconciling that i think also looks at how did we get the recovery and that was clearly through what was essentially bridge financing between the fed and congress, fiscal stimulus and money in the pocket of people to bridge their spending, that high unemployment number, businesses shutting down and the federal reserve innovating through the pandemic and really impressive ways including the ppe and providing liquidity and

stability to the system it as we move forward, the next leg of this market going higher will hinge on human recovery which means vaccine distribution, and we have a timeline now for that. so essentially this next round of stimulus is a second bridge financing to get us to that end point. we're in a temporary state during the pandemic. it's been brutal and painful for people it is a temporary stateand we want to help investors look beyond where we sit today, the sauce and-making in d.c. to the second half of next year and start to tilt their portfolios towards the human recovery we pits you in cyclical small caps and even to some degree preparing, you know, dare i say for, you know, longer term potential inflation down the road. >> you can go ahead and say it i think the 30-year inflation break-evens just climbed above 2% today, but the bond market still kind of shrugging that off. >> right. >> darryl, let me circle back to you with kind of a note on that.

i mean, are we all going to be kaurkts you know, flat-footed, wrong-foot federal we start to see that, you know, bond yields go up and these high-flying tech trades come back down to earth or not, because it seems like everybody has been anticipating that for the last several months now and it's not quite, quite happening. >> well, i think bond yields are slowly grinding high we expect the ten-year to break 1% and continue that steepening yield curve which is why financials are working and industrials are working and materials are working so i actually think though the thing that people are underappreciating on today's activity and into next week is santa claus may yet be coming to town as quick as next week for a number of reasons. one is you've got all these hedges through quadruple witching that are rolling off today. that leaves a lot of street balance sheets flat on without getting too technical what's called gamma which means if you still believe on the risk-on trade which most do, they have to put the gamma back on you could have a year-end rally

here we think into the next couple of weeks that may surprise on low volume which is typical for this time of the year. >> darryl, i mean, i was going so say santa claus is already here this has been a pretty remarkable most last couple of we be. you tell me, but it seems like -- we talked about this a lot more yesterday, but the momentum trarksds the teslas, the ev stocks, you know. throw big tech in there, tech software etf at all-time high and momentum software at an all-time high, bitcoin santa to the extent that that is what the year-end rally is about. it's interesting what you say about gamma and positioning so you're saying there's still a little bit more fuel to the fire >> absolutely. i mean, santa claus you could argue came in november on a huge monthly rally are on the month of november but it will stay with us, and this time of year we get into low volume if dealers and big balance streets on the street find themselves short risk heading into this year end i don't think that's a place they want to be in i think they will probably put

more risk on which on the low volume means you push indices higher and get tesla reballing and new hedges put on. $85 billion has to rotate into higher tech, right, so that's all going to play in the back half and the next two weeks of this year. >> fascinating we have to leave it there, guys. the darryl cronk and sherry paul talking about what to expect in the next weeks and next year in the market. come up, pfizer says it has millions of doses of its covid-19 vaccine in a warehouse and no government instructions it on where to go. hhs is saying that's not true. we'll take a look at the vaccine battle next. plus another day and another ipo filing but this one stands out why? it's profitable. the that story in a few. stay with us it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off.

you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪ ♪ ♪ digital transformation has failed to take off. because it hasn't removed the endless mundane work we all hate. ♪ ♪ automation can solve that by taking on repetitive tasks for us. unleash your potential. uipath. reboot work.

help the world believe in holiday magic.thing and this year was harder than ever. and yet, somehow, you all found a way to pull it off. it's not about the toys or the ornaments

but about coming together. santa, santa, you're on mute! just wanted to say thanks. thanks for believing. welcome back pfizer's vaccine rollout has hit had a major snag firms in california, washington, hawaii and nevada say the cdc informed them their allocations will be slashed by about 40% but no explanation was provided as to why, and about a dozen other states say they were told to expect fewer doses as well pfizer says it has plenty of supply on hand, quote, saying no

shipments containing the vaccine are on hold or delayed pfizer says it has millions of doses ready to be shipped out. here to help us get to the bottom of it we welcome our own meg tirrell along with d dr. jawad, associate professor of medicine at the university of pittsburgh welcome to boast you meg, let's just start with what we know at this hour about why these states are finding their expectations and their supplies cut. >> reporter: well, we're getting sort of conflicting messages really out of the administration they note bottom line they still expect 20 million people to be able to get their first shot within december assuming that the pfizer -- the moderna vaccine gets emergency use authorization today or tomorrow as everybody expects it will, but the states, many states reporting 30% to 50% cuts in their allegations of fooiz err's vaccine for next week. some messaging that that might just be a mix-up they were essentially given some old numbers for a training are protocol and now the real numbers are turning out to be less, but then there has been

this back and forth between the administration and pfizer where there have been some suggestions, including from, you know, governor ron desantis who is not part of the administration but made the assertion that florida's allocation was caught bus of pfizer's manufacturing issues and foizer came out and says it has no manufacturing issues and has more doses it available than have actually been -- they have been told what to do with. kelly? >> fascinating so dr. jawad, what's your sort of take on all of this as it continues to play out in very public view? >> thanks for having me on i think that is the issue that it's playing out in public view. if you take a step back what's happened with operation warp speed is really amazing when you think about the science and logistics. we'll have by christmas two vaccines for this disease we've never seen before in people's arms i think the issue now is

communication, and with an operation that is so big, there's going to be disagreements. there's going to be miscommunications can, and the issue now is that this is playing out in public so i often, you know, i was thinking earlier about d-day, an enormous operation. imagine if all of that had been playing out on public and on twitter and in cable news so i think this kind of issue will be common with a huge operation >> dr. gellad, what do you think is going on here and it's a difficult issue because in some ways who are the states supposed to -- do they explain to government? do they explain to pfizer? they probably have to communicate to their own populations who are of hospitals and nursing homes and frontline workers expecting that they would get vaccinated next week and now they are hearing that's no longer possible and they are saying we didn't screw this up

something is changing here, right? >> absolutely. everybody is under tremendous pressure, tremendous pressure from all kids and you mentioned the hospitals up to the states to to pfizer i think that this is really a matter of communication and form others who are vaccinating, they have some planning to do they have probably stead you'd appointments already for them you might have to tell people we're going torg delay a week there are delays and i think the issue is really the communication between the hospitals and the states and the states and the federal government and they really need to get their act in order in terms of communication. >> you know, meg, what are we

missing? if pfizer says they have full supplies and the states are saying the supplies they were given aren't coming in, were they given on the minutic numbers in the first place or is there another reap why supplies wouldn't be available? >> we did hear states were originally given placeholder numbers and these turn out to be different than what is being allocated and part of that have is that they want to establish a steady cadence of dose shipments but the backdrop to this that's sort of important pause it explains i think the back and forth we're seeing between hhs and pfizer is that they are in a negotiation right now over getting more dose disease of pfizer's vaccine next year for the second quarter, and there is some apparent, you know, almost bad blood it seems like where you're hearing secretary alex azar talking about pfizer being

secretive. pfizer's ceo was on our air monday morning saying they would like for the government to use the defense production act to help them acquire more raw materials, some of which are running at critical supply they said, and the original story was that pfizer had offered that second quarter of allotment doses to the u.s. before selling them to other countries and that the u.s. didn't exercise that option, and now it wants the doses in the second quarter and can't get them until the third quarter. the administration disputes that timeline, kelly and said they weren't actually made a formal offer but now the offer is did pfizer somehow speed up the development for the second quarter and that's where this bubbling up is happening it seems like >> absolutely. doctor, just a final question on that note. people are starting to ask if the vaccines do work so well after the first dose and we're showing shortage problems would it be better to do a first round of a vaccine and hit twice the population >> that is a question people should be asking right? but the dosage is really two

doses, so no one should be going around and saying we're only going to do one dose the issue really is how much does the government keep in warehouse to make sure everyone gets that second dose on time versus taking a little risk that that second doze can be delayed and vaccinating millions more people so the issue is not whether poem should get one or two doses. the issue is whether we can somehow get more people that first dose now because we are at the peak of this pandemic. it is horrible, and there is -- and there is really reason to believe that the first doze can have an impact even if it's not the ideal, each if it's not the full protection. that's -- that's what needs to be discussedch. >> absolutely. i was just going to say on that note we do potentially have a lot more head our way as the moderna vaccines also starts

being dispersed. thanks to both of you for having to explain what's been going on with this roll youshlgts and while it does offer a return to hope or hope for return to normal i should say in 2021, it's going to be a much longer road to recovery for the airline stocks than you might think. a new article on cnbc pro is detailing this, a rough year for the carriers who have lost $20 billion. united airlines the worst perform ter, down 48% and southwest, relative outper former only down 15%. you can get the full deep dive on this story and the faith airlines at cnbc.com/pro. coming up, new data shows institutional investors started a bitcoin buying spree this year picking up more than 11 billion worth of the crypto in 11 months is this the start or the end of the trend? we'll explore, that and all the focus has been on pfizer and moderna this week and there's another health care name that's outperformed them by a lot our friday find is next. >> you can always watch us live 'rba ia o use the cnbc app

wee ckn couple illiteracy andink financial inclusion is everybody's problem. and that's why we created rapunzl. the rapunzl app was designed for high school and college students to simulate stock portfolios. they're able to buy and sell stocks in real time. thanks to nasdaq's cloud data solution. if somebody tells you just download this app and you could potentially win a scholarship, and you're learning, it's like, yeah. information is key. having access to information at your fingertips on your mobile phone, on your desktop, or here on the screens, it really allows us to showcase what's happening out there. and so we pitched the idea of: why don't we host an investment competition on this newly built rapunzl platform? it was really cool to just sit there and like watch how the market really works. what i won was real money. so my first year of college, i ended up going debt free. data information being put in the right hands can literally change a person's like way of life.

- any idea how much it will cost? - [doctor] i recommend goodrx. you get free coupons to save on your prescriptions. - goodrx, smart. - [announcer] stop paying too much for your prescriptions. - thanks. - download the free app today.

welcome back to "the exchange." watching these markets closely this afternoon with both stimulus talks uncertain and this big rebalance on the close with tesla and the quad witching looming. dow and at s&p down half a percent right now after retreating from record highs this morning the nasdaq down.02%. only one sector is positive

right now and that's materials by about a tenth of a percent. worst sectors financials down 1%, real estate down there as well and energy down 1.6 here are some of the movers this hour shares of winnebago are climbing after reporting a strong beat on the top and bottom line. the rv-maker says it sees interest in outdoor activity strengthening even more next year investors are buying it, up 2% scholastic lower on disappointing earnings and revenue in the second corner citing the uncertainty of covid-19's future impact on school scholastic shares are down 9% and shares of crowdstrike are climbing as a scale of a massive hack of the u.s. government continues to grow. cyber security firms like crowdstrike and fire eye could see gains as companies and governments work to shore up their systems. crowdstrike is up 9% right now on a strong day for all the cyber names. let's get to morgan brennan now for a cnbc news update hi, morgan. >> hey, kelly. i'm morgan brennan in georgia turnout remains near

record levels in the runoff elections for two u.s. senate seats. more than 1.1 million have voted so far, just below the total at the same point in the november election that deaths from drug overdoses have risen to a new level the rise was driven in part by disruptions in daily life due to the pandemic and in south korea a man who spent 20 years in jail for a crime he didn't commit is timely having his name cleared. he was released on parole in 2009 but had to wait until now to be declared innocent. a judge apologized to him on behalf of the judiciary for the pain caused by that wrong verdict. that's your cnbc news update for this hour. kelly, back to you. >> stilling morgue answer, 81,000 overdoses this year. >> that's heartbreaking. >> so sad, and we're just going into the winter again now. >> that's right. it's very sad, and certainly our hearts go out to the folks that are touched by this.

so many people are touched by this. >> 100%. >> yeah. morgan, appreciate it. morgan brennan back at headquarters. let's get to our friday find, a stock with a nice rally this week without much fun fair. all attention has been on moderna and pfizer take a look at sage therapeutics the stock is up 17% after announcing a new ceo the move was a surprise to wall street but well received by analysts the move was a positive one for the company that should resonate with investors and brings a seasoned but fresh view at the top. sage i'd adding another 4% hitting a 52-week high last month and it's up more than 200% from its 52-week low coming up, the ipo craze continues, but the latest company stands out we'll tell you why. that and more ahd "pieainrad fire." we're back in a couple kliff par

and in an emergency,

they need a network that puts them first. that connects them to technology, to each other, and to other agencies. that's why at&t built firstnet with and for first responders the emergency response network authorized by congress. firstnet. because putting them first is our job.

welcome back let's catch you up on a couple of stories that should be on your radar today here to break down the headlines are michael santoli, deirdre bosa and ed lee, the corporate media reporter at the "new york times. welcome, everybody let's begin with posh mark and

another ipo. after turning profitable during the pandemic, in the first three quarters of last year posh mark lost $30 million different story now with the secondhand marketplace turning a profit of more than $20 million since january. ed, that should be enough to give them a $20 billion valuation. >> well, look, we're all living in lockdown, and i think people are, you know, they are cleaning out their closets and trying to find ways to make a little extra money so there was probably sort of a positive bump from that the downside risk though for me on this particular company, when you have that kind of a marketplace where you're buying and selling things you don't control your inventory, right, so once we come out of lockdown and people go back out into stores and stuff, you know, they are going to have a harder time controlling how much inventory they can bring in and out and which ultimately will determine their sales. i mean, ebay has sort of an issue a while ago which is why they went to becoming an e-commerce company so that i

think is something to look out for post-covid >> deirdre, i experimented with many so of these sort of secondhand marketplaces, used clothes, online warehouse, whatever we're calling them it, and, i mean, the waiting times right now are astronomical they are basically saying, you know, give us six months and we'll tell you what this stuff is worth if you choose, you know, the kind of easiest option, so they are flooded right now, although i take ed's point longer term. >> right i guess the point is, you know, will people continue to use those post-pandemic, and why did you stop at 20 billion if an 18 billion company like airbnb can be worth nearly $100 bill yorng the s billion, the sky's the limit in all seriousness, showing that profitability should probably be really appealing to investors right now, and it's kind of remarkable where we've come in this moment versus last year at this time where we had just watched the implosion of we

work within the last few months there's a lot more appetite for growth that said, 28% in the first three quarters of 2020 for poshmark, is that going to be enough >> and mike poshmark reminds me a little bit of instacart if they are waiting in the wings as well here as names that investors have to decide, okay, is the fact that they benefited so much from the pandemic a reason why they are more attractive long term or just a convenient excuse for them to come out with a nice valuation >> we're living in the golden age of middle man apps, airbnb, doordash, it's a dispatch app and the economics of it are great. if you do have that sustainably growing, you know i have a proprietary channel check i can do for younger consumers. >> i do. >> dee pop is the choice of under24-year-olds. i heard, you know, that's more

for millenials which means the older people. >> yeah. the. >> us. >> you're talking about us. >> my daughters, just to be clear. >> right >> i drive a minivan i've accepted it, but i am looking -- >> welcome, welcome. >> that's where i'm going to sell everything. >> all right speak -- >> i didn't mike was so tapped in. >> he's -- you've got to keep up with santoli he keeps us all on our toes around here. >> i'm a parent to plugged-in people. >> exactly that's all you need to be. discovery could become a casualty of the streaming wars warns bank of america. the firm is dropping its rate on the stock from buy to underperform, and they are cutting its price target to 25 bucks a share, 11% lower from here they are saying it will be challenging to produce must-have content in this fragmented media land skate granted discovery is down about 3% to date but coming off a six-week winning streak, its longest winning streak since last summer. ed, i find this fascinating. they were an absolute winner monster of the cable era

can it transition now into -- into streaming >> so, i think discovery's long-term genius during this whole cable period was that it was effectively background tv, right? it was sort of always on, you know you walk into any household, like someone was watching one of the discovery networks it's easy to watch the content itself is relatively cheap to produce and they made a lot of money on advertising. the problem when you go streaming, when you go treasury secretary to consumer that's a lean forward activity, right, to use sort of these early internet terms. it doesn't have the same dynamic so i think that's going to be a huge, huge challenge the estimates are they are doing $7 on the linear net, would. 80 million households doing it trying to convert that to stream is going to be really, really hard also, they are not taking their current linear stuff on to street they have to produce all new stuff for stream, right, and

they have two different masters where they have to spend on both ends of this i think it's going to be tough. >> yeah, and, mike, there's a lot of discovery properties individually that i really like and i use some of the free apps and i'm excited for the magnolia channel and all of that, but, you know, this one does seem to be at risk of not become is one of the big four. >> yeah. >> i've talked about this. but if you've got netflix out there, you've got disney plus, you kind of only have room for a couple of more, and i think it's going to be a really tight race between peacock and hbo max and -- and all these different platforms for that prime property. >> it almost feels -- first of all, discovery is a very, very cheap stock so the market is not sitting there and betting high hopes for the streaming strategy in the valuation that's the upside. it already looks like the market has priced it for decline over time so it's not like you have to worry about that mismatch i think you're absolutely right. you have to wonder if discovery gets more folded into a new version of the bundle whether

it's kind of native on cell phone services, whatever you might have to do or just kind of being with some other players as opposed to being the content that people will be talking about and getting other people to sign up for it which is the netflix/hbo max disney model >> almost like disney is so successful that everybody else has to like you said team up and combine. 350 million subs is just incredible. let's talk about some recent ipos, doordash and airbnb. if you think their valuations are too rich, civic hana does not. they just became the biggest bull on the street for boast recent i'm yoempts the official initiating coverage on both with a positive rating and street high price targets saying they each dominate their respective markets. shares of both, by the way, up 6% and susquehanna sees airbnb going to 180 a share and doordash hitting 185 that's about 15% upside for each stock. >> when you think about what these businesses are doing right now, yes, that seems crazy if you think about what they can

do in the future, maybe that makes accepts because you're assuming that airbnb and doordash, they are not always going to be home-sharing and delivery particular the forms that you're basically betting that doordash is going to become more than that, a logistics network with its own potentially convenient stores or airbnb is going to control its whole ecosystem and that 90% stat of traffic is all organic, so what does airbnb do with that does it look into advertising, property management, and in that sense these companies will become platforms in the same sense that some of our tech giants, are so i suppose that is the bold case, and we're hearing that from susquehanna but certainly there's more analysts out there who think that these valuations out there are just out of control >> yeah, and, mike, is there anything you would add to that just in terms of, i don't know, some color around the susquehanna move here. to some extent they are just

kind of recognizing what's happened over the past week, you know not going out on a limb saying these things are going to double but also saying they are not going to fall 50% and that's kind of what you would expect from the street. >> pretty much leaning on the fact that they are category leaders at the moment i also enjoy looking at what companies the analysts want these to be compared to for valuation purposes and when it came to airbnb it was not the other online travel booking companies because they don't seem pricey enough so it was roku and shopify and s.n.a.p. and trade dash and all these other hot concepts so that tells you where you can go a big test in the public market is can the venture capital idea of being the leader and spend to grow and essentially put the competition out of business with unending capital spending and reinvestment, can that work in the context of a public company? that's the experiment going on. >> very well state very well stated finally, and this is really why we have ed lee here today, in a move that's shocking the gaming

community, sony is removing the highly anticipate video came cyber punk 2077 from its playstation store and offering full refunds for digital cop kiss, this after the game has had all this criticism because of buggs and poor performance on older consoles and no one can get their hands on newer consoles xbox offering refunds. won't de-list it yet and realize players have been unhappy with the current experience ed, i know you're all over this one, all over cyber punk. >> at home all the time playing video games, cnbc on one side and games on the other with my computer this is kind of unprecedented, a huge sort of recall, the equivalent of what this is, and, you know, we can't think of games anymore as just sort of this weird hobby thing that younger people are doing it's absolutely a huge part of the entertainment sort of kind of industrial complex so to speak. we're talking about, you know, discovery and netflix and disney

plus video games are as much a part of sort of the viewing, right, sort of time that -- that consumers are use, and it's not just kids at home. it's adults at well, so this is -- it's -- it's a big black mark i also think it tells you, you know, the way it's reverb rated again is how important video games are to the entertainment industry i have yet to see sort of netflix or one of these other guys try to make more inroads. i think that that's the next step you know, amazon has twitch and that's a smaller part of that and look for more convergence there going in the future. >> absolutely. >> you're absolutely right it's a reminder that it's not just discovery competing dense netflix and disney plus. video games are a massive -- it almost makes me feel like it's a disservice to call them video games, like it's so much bigger than that. >> everybody is going for the same pool of eyeball hours i guess is the way to put it. >> one thing that also accentuates though is that day when everything can kind of be

an online game and it won't be console-based keeps getting pushed out into the perpetual horizon because one of the issues right here is the older games can't really play this sort of graphics-rich type of contempt, and that just edge keeps getting pushed so i think it's fascinating about the power of the actual game consoles as well. >> that's a bold case for all the video game eco-systems for microsoft and sony and all the rest of it we'll leave it there thank you all. michael santoli, deirdre bosa and, yes, ed lee joining us for "rapid fire. the bitcoin bonanza. cryptocurrency doubling in the past month and one particular investors key to driving all those gains. that story right after this quick break. 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 now and speak to a licensed

humana sales agent to see if you qualify. learn about plans that could give you more healthcare benefits than you have today. depending on the plan you choose, you could have your doctor, hospital and prescription drug coverage in one convenient plan. from humana, a company with nearly 60 years of experience in the healthcare industry. you'll have lots of doctors and specialists to choose from. and, if you have medicare and medicaid, a humana plan may give you other important benefits. depending on where you live, they could include dental, vision and hearing coverage. you may also get rides to plan-approved locations; home delivered meals after an in-patient hospital stay; a monthly allowance for purchasing healthy food and beverages; plus an allowance for health and wellness items. everything from over the counter medications and vitamins, to first aid items and personal care products. best of all, if you have medicare and medicaid,

you may qualify for multiple opportunities throughout the year to enroll. so if you want more from medicare, call the number on your screen now to speak with a licensed humana sales agent. learn about humana plans that could give you more healthcare benefits. including coverage for prescription drugs, dental care, eye exams and glasses, hearing aids and more. a licensed humana sales agent will walk you through your options, answer any questions you have and, if you're eligible, help you enroll over the phone. call today and we'll also send this free guide. humana, a more human way to healthcare. a. welcome back a monster week for bitcoin it's up 26% since monday it's on pace for its best week in more than a year. we're up back near 23,000 again, and it's doubled in the past three months, and that's been driven by wealthy investors.

kate rooney is here with those details for us hi, kate. >> hey, kelly. big investors who are knew to cryptocurrencies may be behind this recent rallry according to data from block chain firm chainanysis there's been a surge in demand for people who hold at least $20 billion worth of decoin and are new to the market with an account open for less than a year investors that met that criteria have bought $11.5 billion worth of bitcoin since september that buying spree coincides with the price of bitcoin doubling. analysts say this demand from wealthy and institutional investors is a big factor boosting bitcoin to an all-time high this week some of these better-known investors have been pretty vocal, paul tudor jones and stan druckenmiller have highlighted bitcoin as a hedge against inflation in their own portfolios with new demand there's also lower supply

chainalysis reports people are selling 800,000 less becopies than they were three years ago there's also new celebrity intrigue this week right as bitcoin hit its all-time high yesterday. rapper meg an me stallion had a square share app re-tweeted by twitter ceo jack dorsey and celebrity endorsements aren't always a good thing. typically been a bellwether for the top of the market. kell, back to you. >> so true, kate part of what you said though about the sort of small supply base is so interesting because a lot of retail investors are sitting there with now gains presumably even if they have been under water for the last few years, that they are suddenly going, okay, if i hang on to this thing for some time and that's one of the bold cases for bitcoin is that there's just not a ton of supply available. >> right there are some people hanging on from even three years ago, and it did see its last all-time high and some of these institutional investors instead

of having it on an exchang where they are going to sell it, they often will put it into what is called cold storage and put it on something called a hard drive and keep it away from exchanges for security reasons so that's also drank some of to supply. >> cold storage, that's what they are calling it? >> cold storage, like a flown disc or had a hard drive i don't know floppy discs are still around. >> exactly. >> one of those usb -- >> the more old school the better >> exactly. >> thumb drives. thumb drives, 100%. >> especially with all the hacking going on lately, broadly speak, not in this case. kate rooney with the very latest on us for who is snapping up bitcoin which is surging this week to record highs. coming up, what a scene this was. distributors working fast and furiously to transfer tiny vaccine vials into specific packaging to keep it safe and stable next, we're going to speak with the company that made all the packaging for pfizer's vaccine and will be working with

wee dea. 'rback in a couple tax-smart investing, what's new? -well, audrey's expecting... -twins! grandparents! we want to put money aside for them, so...change in plans. alright, let's see what we can adjust. ♪ we'd be closer to the twins. change in plans. okay. mom, are you painting again? you could sell these. lemme guess, change in plans? at fidelity, a change in plans is always part of the plan. and now with q4 wrapping up,? the north pole has to be feeling the heat. it's okay santa, let's workflow it. workflow it...? -uh-huh. just picture it... with the now platform, we'll have the company you always imagined. efficient, productive, seamless. ok, i'm in. whatever your business is facing... let's workflow it. servicenow.

welcome back companies are working around the clock to deliver pfizer's covid

vaccine. the packaging is crucial to keeping these millions of doses stable and super cold. our brian sullivan traveled to shre shreveport, indiana to show us how it was done. joining me is brian mccoy, president of cold chain solutions. you guys basically have to get all this packaging ready before you would get that official go from the government, right >> yeah. good afternoon kelly timing on this is crucial. because we have to have it ready before we even know if it's approved normally in about 14 days to do a project like this. we had about three days. we knew we didn't want to be the

reason the community didn't get the vkaccine there were lots of late-night texts, zoom meetings, to make sure we were there when the vaccine arrived. >> how did you become a go-to provider for this packaging? >> so we do cold chain solutions, suggest nal suppigna a woman-owned family business, celebrating our 50th year in business this year they called us up and said can you help us? we said absolutely whatever you need, we will do. >> and how does this rank in terms of projects for you guys is it on the small, medium or larger size? >> stress large. volume, it's what we do. stressful it was up there because of the timing and everything look that everything else this is what we do every sungingle day. we were just doing our job

>> let's talk about the packaging for pfizer and moderna. they're different. pfizer's has to be stored much more coldly. how does that complicate your ability to roll these out and get all of these vaccines where they need to go and where they need to go without any jostling being shall we say, along the way? >> we had to mac sure we had a product that would withstand the ultra cold temperatures. we needed to protect the vials during transportation. we had to unpack tease hese in minutes. it had to be a user-friendly foam for the pfizer. moderna, it is a little bit larger vial. we already made the adjustments we need for that we're waiting on the word that

we can move forward with that project. >> there is not always user-friendly foam in my experience with these packages so i can imagine brian, last question what about getting compensated for this i mean, is it billed like a normal project is it a totally different story because it's kind of of this huge government kind of war against the pandemic thing i can only imagine when you need to get the supply up and running quickly, your own costs are probably elevated. >> we treated this as any other sale that we do, any other project, we treated it the same way. we're not looking for anything yes, there was some expediting on our part, but we did what we needed to do to take care of it. >> fair enough >> it's good to hear the inside story. we take so much of the supply chain for granted, but especially with these vaccines, i think everyone is extra aware

of what goes into it thanks for joining us today. >> thanks for having us. it was an honor to do this for everyone >> yeah, and our thanks very much as well >> thank you >> a lot of names hitting all-time highs in nearly all industries ta take a quick look, gaming blizzard and chipotle at an all-time high, paypal, paycheck, broadcom and autodesk and oracle all hitting all-time highs >> and the suspected russian hack is much worse than was feared i'll join tyler mathisen for after this quick break

good afternoon, everyone welcome to "power lunch. along with kelly evans, i'm tyl tyler mathisen the dow down about 200 points as we await details about whether or not there is a deal for more stimulus we may get word this hour or some word from speak