the calls bought, and i bought the calls in the show. >> and mr. weiss >> qualcomm going to blow out the quarter wednesday. still time to get long. >> okay. thank you for that, and good to see everybody. shovel safely. and shovel safely if you are in this area, and a lot of snow is falling. the markets, highs of day and big week for earnings and a lot going on and that is going to do it for us. "the exchange" begins right now. and indeed it does, and hello, everybody. happy snowy monday at least in the northeast, and probably 75 in florida who knows. i'm brian sullivan and welcome in and silver is shooting higher, and the latest player in the reddit rebellion or are some being played the story is interest big the hour. and more good news on the

vaccination front. moderna says that the viles can hold more doses than currently approve and this is on pace to get 100 million shots into the arms by early march. and good news, could we be seeing some old fashion bipartisanship on the hill maybe or maybe not. it all comes with a price tag. we will get to that and much more over the next 60 minutes or so and we have a nice jump in most of the stocks anyway to kick off the week. so let's kick it off with your friend bob pisani. bob? >> good to see you, and right at the highs of the day, and once again, the negative correlation with the shorted names continues as they are down, the broader market is up. there's the s&p 500, and we have almost erased all of the big losses on friday and in fact, the nasdaq is having a fabulous day, and it has erased the losses on friday, and the dow industrials are underperforming and the russell 2000, and still,

the nice performance from the nasdaq is because mega cap tech is having a good day, and so amazon, and alphabet and it is up, and rocky last few days, and apple at 144 at one point and went to 130 and bounced back a little bit here, but we have moved down quite a bit off of the highs here. the shorts, and i have mentioned the inverse relationship with the shorts out there, and gamestop as low as 212 and up above that right now, but a long way from 325 where it closed friday and amc and bed, bath and beyond and express, and amc was way up this morning, and it is off of the highs, and still marginally to the upside, and basically the shorts are down today. the commodity etfs and we have been concentrating on the interest in silver, but silver is lower than it was earlier in the year, but uranium, and looking at copper, and platinum, and all moving more than normal

today, and so there is an overall interest in the commodities in general today, and whether or not that translates into any short squeeze, we will see if it actually happens. guys, back to you. >> yeah, what is the short level of uranium, and i don't want to take the physical delivery there. bob, quickly, a lot of us were going back and forth about what exactly was going on with the market, and based on the price action today, and the big caps that you laid out, and the hedge fund favorites and does it indeed look like the ones that got sold to cover the margin calls, and any kind of redemption requests from the hedge fund clients and now, you know, melvins completely out of gamestop, and this is the buy-back of what had to be sold? >> well, look at what was sold big, mega cap and semiconductors and what were the big winner prior to that, mega cap, and semiconductors and a definite

de-grossing, and they lightened up on long positions as well as the short positions, and so today, as we saw the less volatility in the shorted names, and market tends to drift upward because the fundamentals there, the vaccination story, the stimulus story and the earnings story which is really turning out to be great are all what matters ultimately for the market, brian. >> and for humanity, by the way, and 12 straight days with more than 1 million shots in the arms in the united states, and the story is not telling it enough, and we will tell it later in the show, and bob pisani, thank you very much. >> thank you. it seems that everybody is debating the real impact of the retail users and the reddit users and the commodity prices, and so to get to the bottom of it, we figured we would do something novel, and actually talk to somebody silver, because it is on the move, and biggest one day gain. and so now you can see that

silver rush began last week, after some mentions on, yes, reddit, but what about the physical silver, and not just paper moves? joining us is michael whitmeyer, and he typically has a million in sales on a sunday, but correct me if my numbers are wrong, but you did $27 million over the weekend >> yeah, just actually over $27 million sunday alone. substantial numbers for us, and enormous increase in demand that we have been seeing since essentially wednesday night when the wall street bets went up, and we have been scrambling trying hard to keep up with the demand. >> a little bit later on, we will talk about whether or not these are real, quote, retail traders and there are conspiracy theories of the hedge fund guys in disguise. based on the hoorder sizes, basd

on your experiences, can you tell who these buyers are? >> individual investors, and these are based on the customer base that we have developed, and increases in new customer activity as well, but it is across the board and individual investors and average purchases ranged from between $2 to $3,000, and we have others who purchased six figures, but on the whole, it is customers who want physical purchases and delivery. >> coins >> coins, bars and rounds. we typically have about 1,000 silver products in inventory for purchase, and we are so cleaned out right now, that we are last i checked down to 80 items in stock which is a number i have never seen before or a number they never thought that we would see. >> so you are almost out of silver inventory, and if you want to sell silver, which means that you have to go get more, can you, do your suppliers have

more silver? >> no. the entire industry is wiped out, and what we are selling now is future deliveries to secure silver to produced and shipped to us in coming weeks to offer to customers to walk in today's spot price and take delivery future, but to find live silver to purchase and receive today, it is becoming impossible. >> when do you think that we will have more supplies and maybe you cannot reveal it, michael, but are you buying for the federal reserve and who do you buy from if you don't mind telling us >> one of the primary suppliers is the u.s. mint and they produce the most popular silver product a one ounce coin called the american eagled and they have the capacity to make half a million ounces of that product on a weekly basis and on context since friday night just us, we

have sold 260,000 ounces of that if we had not sold out, and we are one dealer in one market, and that is a shock to the dealer for months. >> and can you correlate, and you are not exactly in tune, and the wall street bets of the sub that reddit created and have you been able to poke around and see a direct correlation in terms of your order flow, and sort of the online attention to last really three to four days, and the direct correlation >> absolutely. it was like a flipping on overnight wednesday and went crazy thursday and friday over the weekend, and so as i said we did see the existing customer base, but it was driven by the media attention on this story, and so silver being in the headlines as a potential target of the wall street bets, so the reddit users are coming in directly to make the purchases, but on the whole, it is our

customers trying to get ahead of what they trying to do. >> a combination of the both, and incredible, and some of the lowest inventory that you have had and maybe the mint is out of silver, and michael whittmeyer on the ground stuff. appreciate it. >> thank you. so let's peel it out a little bit to the macro markets and what led to the volatility and some of the reddit rally stocks and how that might overall impact the market, and we are joined by bob doll, and more than a trillion in assets under management at that firm, and bob, i want to get to the ek with tis in a macro moment in a moment, and can you believe what he said, at least one bullion deal ser out of silver and not sure that he can get moshgs and you have been doing this a long time, and i say it respectfully, but what is the take on everything that is going on right now? >> well, and brian, it is a surprise to me that it has not happened before this. when you think of the

ingredients of essentially free money, and lots of checks getting mailed and people having hands on their hands, and -- having time on their hands, and speculative trading and volatility in the market that is making people squeamish, and hearing people say it is a rigged game or i can't compete, and you know, it is a wild west at the moment. >> well, it is, and a lot of people by the way are getting rich as well. and there is some data, and goldman sachs on the weekend said they ran the numbers and what they saw on friday was the biggest short squeeze in 25 years. in other words, it worked and the firms had to deleveraged and they had to sell what they had to sell, and the squeezes do tend to be good for the stocks

longer term, and tend to get some of the froth out of the market. what is your take on equities going forward and what we saw on friday. >> i think that the noise around these squeezes, and the presence of them has to let up somewhat to get, you know, the average investor back to, oh, yeah, i need to focus on the economy and earnings and that is what moves stocks, and isn't that the case. so we have headwinds to get through, brian, but as i indicated earlier, this is not the last of the speculation that we will see, and it does increase the volatility in both direction, and we saw it on the downside friday and on the upside today, and i think that, the kinds of volumes that we are seeing in some of the securities that have been, can i use the word victimized is way up there, and that is the result of a lot

of players, brian. >> yes, and a whole narrative there, and the little guy beating the big guy, and whatever, and by the way, and what the media and cnbc thinks about it, and by the way, i think it is a great thing. i want to be on the record for that, because as long as the many people, bob, they don't get the donkeys handed to them, if you know what i mean, then you are getting a renewed interest in the stock market and for a decade, everybody moaned that the retail investor was wiped out after the financial crash, and the financial crisis and we need people to be interested in the market other than a few machines and high net worth clients, and overall, do you view it as a positive or am i completely wrong >> no, you are right on the it, and some of these, and you go back to the decline last year, some of these individual investors, and some of those networks were buyers near the bottom, and they bought high beta stocks and did well coming off of the bottom. and so the retail guy doesn't

know what they are doing, but some of them do. so that is the beauty of the market. anybody can play. >> there is a guy, and we have to go, bob, and a gentleman over the weekend, and i saw him over st. louis, and he makes $45,000 a year, and he put $4,500 and that is 10% of the income, be careful, into gamestop, and gamestop options and on paper as of friday night, he was worth 1.1 million, and maybe he sold, and if that is not what you are doing, i will take it all day long and twice on sundays. bob doll, thank you. >> don't forget to sell. don't forget to sell. >> you never lose money by taking the profit. and even the old adages work. and happy shoveling, bob doll, my old friend. okay. so are reddit users the only drivers of the silver boom that we are seeing? well, a deeper dive may suggest that it is not that simple.

we will show you why. and some positive news not only on the covid, but also on the vaccine front. and the details of meg tirrell coming up. and as we begin a new trading month, look at two stocks that did not dominate the headlines in january and no love at all or maybe they should have. viacom and discovery both up more than 30% this year. apparently, tv is the new tv. we are back after this.

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welcome back to exchange, and dow and industrials have a rally this monday and not necessarily gaining back what we lost friday, but we are up 252 and just off of the highs of the session, and the high for counting it home and why not, and what else to do, and up 277 points just under 1%, but look at technology, and bob pisani pointed it out, maybe the squeeze effect that we showed you last week that the big named stocks that got sold to meet the redemption requirements are all being bought back now in force, and nasdaq back up 2%, and all of the sectors in the green, and nasdaq and communications services are the leaders.

now the big movers in green are international flavors and fragrances and the investors there are sniffing out the win. and the investors are fragrances and flavors and completing the deal with dupont's nutrition and biosciences, and the two-day stock up 15%. all right. stock two. maybe this is the stock of the day outside of iff is ford, and the shares there are soaring for ford on the news of the six-year deal with google with in-car connective and cloud services and alphabet as you know them, also higher for 3%, and the stock three, another car, tesla. piper sandler is raising the stock on the car for a new street high of 1,200 from $515 and they are 300 bucks behind where the price of tesla was, so they had to do something, but, they jack it up to 1,200, and the firm is expecting new levers

of growth for tesla for decades and decades to come. well, speaking of electric cars. if you missed the rally in tesla over the last couple of years, morgan stanley says, don't worr about it, because there are couple of new ev names. they predict rises in the china stocks of the rapid rally, and the picks include neo, and x peng and li auto. you can read more about them on the cnbc realtime. and now, why some are jumping on the back of the retail trader. and you can watch us live on the go using the cnbc app on "the exchange."

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all right. welcome back. if you need some good news in the fight against covid and the rush of vaccines and who doesn't, well yo, you are in the tireless and meg tirrell says that they can fit more medicine in each vial and trying to get the fda to approve the move, meg, to help us to speed up the rollout even more, correct >> that is exactly right, brian. so the idea here is to alleviate

a bottleneck in the manufacturing of the covid-19 vaccines which is in the capacity to do what is known as fill finish and take the bowl and put it in the vial, and put 15 doses up from ten. so there is a not a short andge of the vials, because finite number of companies who have the super sterile manufacturers who can do the fill finish, and so the hope is speed up supply by 50% if you are getting more doses in existing vials, brian. so we have not heard from the fda yet on this, and see how quickly they can do this. but if so, it could alleviate one of the bottlenecks that is holding back the vaccine s brian. >> a quick follow on that, because when you are seeing the vial and you have, it is minuscule, and it is literally like the size of a quarter, but you have to administer it quickly, because it is going to go bad over a couple of hours,

and the issue is if they can use all of those, and the nurses and the other people going to deliver the shots be able to deliver them that quickly? >> it is an important question, and we know that the fact that there are ten doses per vial, and the vials are so delicate and you have to use them all at once, it could create more logistical complications, and there is no preservative in it, and the company has to show data that you can get 15 doses out of one vial without a preservative to meet the sterile requirements that the fda has, but if we can get more vaccine out, that is the goal. >> yeah, and, you know, on the case front here, and listen, that is way too many, and any is too many, but the cases are still elevated, but they have come dramatically down from the highs. i looked at texas this morning, meg. a month ago texas had 27,000 cases.

yesterday, 9,900, and we are seeing that trend, and maybe not to that level in other parts of the country. >> absolutely. and i mean, we were showing that wall with the cases coming down 40% from their peak in early to mid-january and this is great news. the hospitalizations are also down, and we have 95,000 people in the hospital, and this is a tremendous number of covid patients in the hospital, but it is down 27% from the peak. in terms of the deaths, it is a lagging indicator, and that should come down, too, but we are 3300 deaths being counted in the country. whereas these are very good signals that trends are coming down. public health experts are really worried about the variants and b-1.17 the first one identified in the u.k. has been identified in 32 case, and we have very few cases of the b-1.31 variant, and one identified in maryland in addition to the two in south carolina, and one of p-1 in minnesota. those ones are the more concerning ones, brian, because

of the ability to evade our vaccines and potentially our drugs as well. so even though things are getting better, the public health experts say that we have to double down to make sure that the variants don't take over. >> do we know for sure that the vaccines don't work on the variants i guess that is the confusion? >> well, we have not seen the clinical trial data on the moderna or the astrazenica vaccine. but we have seen them work on the spike of the coronavirus in some cases. >> but in some of the cases, they have been on strict lockdown. meg tirrell tireless and fearless. thank you. and now we go to courtney

reagan. >> president biden says he going to review the sanction laws and authorities and take appropriate action following the military coup in myanmar. the press secretary says that biden administration is going to take action against all people involved in the coup. a new discovery of concussions of schools showing that most of them occurred in practice. two concussion experts not involved in study called the results, quote, shocking. in california, stunning pictures of the collapse of the pacific coast highway last week caused by heavy rain and mudslides. the officials say that the highway has continued to erode, and it is not clear how long repairs will take. that is your cnbc news update for this hour. brian, we need a lot of infrastructure work in this country, and maybe start there. back over to you. >> start there.

i cannot wait to see you in person, courtney reagan and good to see you virtually. coming can up, 10 republican senators go to the white house, and no, it is not the start of an "saturday night live" skit, but it is the partisanship, and the huge divide of how much they want to spend on the stimulus to get anything done. and as we head to break, remember this important message. february is black history month, and we are honoring some of our cnbc contributors, and this is my friend showing the gratitude for trail blazers that came before. >> i think about the sacrifices that generations before us made to put us in the position that we are in now. i think about everyone who participated in the montgomery bus boycotts, and what they went through, and so whenever, i am feeling down, i remind myself that i am standing on their shoulders, and i have the

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all right. welcome back to "the exchange. the recent volatility of the stocks is not combined to certain corn ore of the market, and the butterfly effect may be more spread. and so the concentration put some effect there at gamestop, and bed, bath & beyond and tootsie roll, and gamestop that you have heard about for the last couple of days is having outside moves on the etf xrt, and gamestop is now wading 19% into the retail index, and less than 2% at the beginning of the year, which is causing the heightened outflows from the etf. here now to talk about all of this is quincy crosby chief market strategist for prudential financial, and i guess that what we have learned, quincy is that number one, a large group of people no matter how much money they have to invest can make big moves and affect a lot, and

also, we are learning that thinly traded and highly shorted stocks can have an outsized effect on the overall market as well. >> well, sure. i mean, particularly in the moves last week, brian, we saw it selling in individual stocks across every sector which suggested that it was the hedge funds forced to sell in order to make up for what they had to pay to cover their shorts. you could see it, because it was not a sector, but individual stocks. and stocks that are very popular and they sit in the hedge fund, but they lost last week as the retail path came in and took over. ye yeah. >> and also the market structure and something that we talked about in the last year and a half before this happened, and

etfs, whatever you think of them, that i have a role in the market. and the gamestop, and we are not picking on the xrt or picking on gamestop, but when you have these kinds of shifts in a widely owned and sort of basket of the stocks that are sized up based on the size that when things move, it is like pushing a super tanker around. >> brian, it is absolutely true. you know, we had an inkling of this many years ago. it was the summer when janet yellen wanted to raise rates and i remember as if it were yesterday, because it showed us what could happen in the etf markets, and suddenly, she had to stop, and it is a movement of the china's currency, but the point is that the etf sold off, and sold off everything, and folks were left with like, what happened to my etf i had good companies in there, and yet, it was everything that was thrown out. that is one thing that the

investors in the etfs don't realize that when everything is going up, it is great, but a very thinly traded stock of less than 2% at the start of the year is moving up to 19 cents is when tb points and plug, and that is the major outflows and the good and the bad of being in the products. >> yeah, and there is good and bad to investing. 200 years of investing, and no matter what it might be in is going to el the us that, the stocks or the tulips or whatever it is. >> silver. >> or silver today. the burl ives trade. thank you, quincy. >> yes, chair. >> and let's stay right here and talk about what is going on parnd reddit, and game stock and silver. because there seems to be two storylines going around. the first is that redditers and

retail trader have turned their attention from gamestop to silver, and pushing the hashtags like silver queen and upriding against i silver and the banking system, and the other is that it is not silver going at her at all, but that they started this quote, unquote movement on reddit, and trying to prove they are reddits, but they are big money interests, and lik everything else in life, it is something that does not neatly fit into the boxes one way or another, but maybe there is truth to both. and eamon javers and julia bowen joining us now. and eamon, there were people trying to push the silver story on the the reddit wall street bets that you have heard so much about. and they gained not only no

traction, but through the weekend, animosity in the way that the redditers can do it, and so then wall street silver popped up, and then it was wall street bets, and your attempt to shutdown the silver is helping us to grow, and thank you, wall street silver. and so it appears that it splintered off, and what do we know about the online presence, eamon? >> well, it is a fascinating division that you are seeing, and some of the people on the bet are posting the old "star wars" meme, it is a trap. >> it's a trap. >> yes, and some are saying that the silver push is not from the retail investors, but hedge fund retail investors pushing this sub silver reddit, and i have reached out to some of those in charge of the wall street silver

reddit, and there are aare anon users out there and one of them is named ivan bayuki and that is the handle that he or she goes by on reddit and i asked to give us a sense of he or she is, and says lives in canada and doesn't have any other full-time job other than pushing silver on social media, and i asked about this idea of anonymous users pushing the investment themes out there, and how should the skeptics think about it, and the response was i can't speak for anybody else pushing the trades anonymously, but ki i can speako myself and i love to invest in silver. answer/nonanswer there. and i talked to one of the moderators over the site by text message, and this person is going by the handle rocket boom

go, and rocket boom go tells me that his name is jim living in florida and a retired merrill lynch trader according to the user says that he got involved in this skeptical of the fed pumping enormous amounts of money into the system, and thinks that silver a natural play. and so are these people really who they are, we have no way of knowing. but that is what they are saying. >> okay. yes. and deidre bowen, watch out for those ka nushgs bcanucks, becaun see what is happening there. and so eamon laying it out that somebody who is on the reddit message boards is i don't know how old, but retired merrill lynch trader, and ki personally confirm that i know that there are big time hedge fund managers who are under pseudonyms on

reddit, and how much of this is grass roots and how much of this is like a goldman sachs trader pretending to be a 26-year-old kid looking for tendies. >> and buying because they like to buy silver? so what is telling us is that these people with the different motives is that reddit trader is far from the homogeneous group, and gamestop might have been straight forward and heavily shorted stock, it is not that straight forward or simple with silver, right? so that is part of why you are seeing some of the backlash on the wallstreetbets, and some of them think, we are not going to hurt wallstreet, because citadel is along in the precious metal, and so it is gets extremely complicated and some of it is being used. for example brian deese had the winkle voss twins on last week,

and he had what was going on with gamestop, and they did not put any money into gamestop. so this is a way for them to get at bitcoin, right? a decentralized currency, and more of that theme of the little guy versus the big guy. the motives are so mixed, but it is incredible what they did over the week, and how much is the silver bet going to go even if it is diversed. >> but the winkle voss twins are not small, they are 6'5", and so they are pretty big. and so, you know, the e-boss and -- and -- >> note. nope. >> i am sure that the audience will some suggestions for you eamon. and he is doing some sleuth with rocket boom go. all right. up next, 10 republican senators

to get set to go with the alternative which is reportedly less than half of what the democrats are asking for. is that enough to spark some compromise or more frustration ly a-- we will ask on "the exchange" coming up after this.

all right. welcome back to "the exchange" everyone. there are two dualing stimulus views coming up on capitol hill, and where do we stand, ylan? >> well, the first is a bi-partisan but significantly smaller, and backed by ten moderate senators who say it is an alternative for biden to consider. these are the figures, the updated price tag is $618

billion to match the $680 billion plan that biden had in his plan. the money for schools is cut to $20 billion from biden's $170 billion, and there is money nor small businesses through the paycheck protection plan, and the stimulus checks would be cut to $1,000 a person to $1,400, and capped at incomes of $50,000 for individuals and $100,000 for couples. also significant is what is not in the plan, and that is a 15/hour minimum wage as well as dedicated funding for state and local government. the 10 gop senators are meeting at the white house today with the president and vice president, and the meeting is scheduled for 5:00 p.m., and they heard biden's call for unity and they want to work with good faith with the administration, and the democrats are plowing it ahead with the go it alone strategy,

and today, the house is scheduled to unveil the budget resolution to be the first step to push the bill through without republican support, and that would allow them to pass the full $1.9 trillion that biden proposed. back to you. >> okay. so what do we know about, ylan about the democratic side, because two parties in america, and bizarrely, democrats and republicans and we think they will go along, and the most powerful man in congress is probably joe manchin, the quote democrat from west virginia, which i believe is the most red state in the united states. are the democrats all going to get in line on this? >> yeah, you are right there, brian. on the math, it seems that ten republican senators would be enough to give democrats the 60 votes they would need to pass the bill, but it is assuming that all 50 democratic senators are in line, and you don't have to go to the senator to where joe manchin is to find the

disd descent like those who say they don't want people going cliff to cliff. and palt toomey said that he does not support this either, because he said it is a bad idea, because we passed 900 billion in covid relief. and so on both sides, there is a lot of skepticism, and the democrats have to run the board here, and having the whole cau caucus, and plus these ten republicans to get it to pass, and they are not sure they will be able to do that. >> thank you, ylan moi, good stuff. and so the democrats are going to be pushing for the compromise, but does it stand any chance with the democrats, and what about capping or reducing this salt deduction tax cap? i got it out. joining us now with more on that and covid relief and others is representative brad snyder from

the 10th district of the northern district of chicago and up, and congressman snyder, thank you for joiniing us, and first off on what ylan just told us about, is there enough support on the democratic side to get it done >> well, the short answer is that we need more relief out. the american people are hurting. the package that passed at the end of december was a down payment, but we have people struggling to put the food on the table, and pay the rent or mortgage, and small businesses, and many of them are closing the doors, and so the state and local communities are really trying to get through this and they need the relief. so we have to get relief out to american people as soon as possible. i want to see a bipartisan package, and the best way to move forward is to bring the people together, and that is going to require compromise from all sides, and joe manchin has one vote, but that one vote can

swing it one way or another, and so does ron wyden and every other senator, so with the 50-50 senate each vote is more important. in the house, it is a narrow majority as well, and every vote counts there, too. but we have to listen to people what they are telling us where they need assistance and where the federal government can set the course to beat back the pandemic, and get people back to work, and make sure that the best days are ahead of us. >> well, the beef that the republican side have, and i only know it because they say it is that 350 billion or so for the state and federal governments, and lot of the republican states, their kids are in schools, and the people are going out to restaurants, and so there is a political divide in sort of the lockdown states, if you will, and illinois versus wisconsin, and completely different handling of the pandemic, and by the way, pretty similar outcomes in the terms of the case, and they are frustrated by that, congressman, and why should we bail out chicago or detroit with federal

money? >> yeah, it is not a matter of bailing out. every state and local government struggling with covid that the extra costs of providing ppe to their employees, and the cost of providing necessary services to the residents, and the pandemic has put a great burden on all g burden on our community. this is not a red state/blue state thing. we need help across the country. and one of the problem you highlighted was the lack of a federal response, a coordinated effort, whether it's on testing and tracing, or now getting out the vaccine. we're paying the price for that today. we have to make the investment to beat back this virus and to get our economy back on track, our kids back in could be, and ought americans should be working together rather than fighting over who handled it better last year or not. >> i agree the private sector is not

getting nearly -- shots in the arm on a good pace we appreciate you joining us here hopefully you aren't frosting on the. wheel chat again our not was yesterday. let's get the shots into the arms so let's get it done >> not political, i agree. i look forward to coming to chicago on the lakeshore by summer. >> i will join you very good. that's how it works, folks silver may be the latest reddit targets, but other metal prices have gone up so much lately, thieves are stealing a very important and very expensive, jane wells, part of our cars

>> reporter: brian, this is the part that's gone catalystic converter it's something far more valuable than silver. we're excited to do business with you but before we sign i gotta ask... sure, anything. we searched you online and maybe you can explain this? i can't believe that garbage is still coming in. that is so false! frustrated with your online search results? call reputation defender today to join tens of thousands who've improved their online reputation.

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is. welcome back at jane wells just showed you, thefts of a very specification car part jane, they have to work that undercarriage for those cars to get those converters >> reporter: it is not easy, brian. i'm at star automotive this is a catalystic converter, it cleans 9 exhaust and sends down to the mufflers increasingly people are saying this, it's gone. sawn out by thieves. it happened to brian coghlan instead of get the nice quiet prius sound, it sounded more like this. it's noisy, because the converter connects the engine to the nflers now why the precious metals have

gone up in value rhodium prices have skyrocketed like they're gamestop. >> what you have to replace is everything, here all the way back you can't just get this piece. >> well just in the sheriff's jurisdiction alone in the last year over 230 catalystic converter thefts. >> it also happens to the same person repeatedly, so i've been a little concerned about that, not knowing every morning when i go out and try the car, is it going to happen to my car again? >> that's how they do it, zoom, zoom and it's done. >> reporter: some piece are b buying plates to try to secure their converter, but for this particular honda, converters, there's a hundred on back order for this particular model. back to you. >> where are they taking them?

where do you cash in a converter? >> reporter: well, what you can do is take it down to some disreputable metal processor all of thesing going down to l.a., but they're creating an actual market for catalytic converters themselves. if they say they can get you one for a grand, it's probably stolen >> wow good stuff jane wells, good to see you. thanks for wchg,atin everybody we'll see you tomorrow "power lunch" is next. dad, i'm scared. ♪♪ it's only human to care for those we love. and also help light their way. ♪♪ it's why last year chevron invested billions of dollars to bring affordable, reliable, ever cleaner energy to america. ♪♪

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good afternoon, everybody. welcome to "power lunch. i'm tiler mathisen it's good to be back, sort of. it's snowing here. morgan brennan will join me in a moment we'll tell you what the targeting of silver means for the market amc is surging, but can it give the battered-down movie chain a second chance? and we are in the eye of the