everybody, to "power lunch." i'm tyler mathisen and here is 2:00 takeout a rally on wall street but not for gamestop no way the stock is down 50%.

so is that particular retail trade unwinding and is that good for the market more broadly? plus, the cloud wars take center stage alphabet, amazon both higher they get ready to report earnings after the bell this afternoon. we will break down that big tech battle royale and later, filing to approve a new publicly traded bitcoin fund one step closer to the long awaited bitcoin etf. >> welcome to "power lunch." good to be with you. i'm melissa lee. med reddit fueled trade. plummeting while the rest of the market is doing quite well today. higher by 1.7% bob pisani has got all the details. bob? >> melissa, this is quite a rally. remember all of this

we were 3700 on the s&p on friday afternoon now we're at 38 or 30. 136 points since friday afternoon. we are now, melissa, maybe 18 or 20 points from an historic high. i'm talking about a closing high in the s&p that's how far we've come. you look at a one month chart. we're knocking on the door of the historic high in the s&p 500 and this is coming with the shorts that are out there. gamestop essentially cut in half today. amc and all the others, not quite as much but in a short position on gamestop has been significantly reduced and of course, there's a lot of differences. the reddit community seems to have split on this, whether to hold on or to sell and the community seems very divided on that in the meantime, nobody's waiting for this moving ahead amazon and alphabet, nobody is waiting for alphabet alphabet at an historic high today, moving forward ahead of

the earnings appele apple, facebook, microsoft also strong we need to keep the rally going with really good earnings beats. that's going to be the key we'll talk about that later in the next couple of days but generally, the numbers are really good. united parcel service beat on higher revenue we expected that the dividends are safe and be able to pay it out of the cash flow that's what people care about. that's working for exxon but did i read this right? motorcycle shipments down 48% year over year my heavens that's why harley is down and got to get people back on the r road beginning the middle of the second quarter go out and take trips and hopefully harley will pick up as well >> thank you very much, bob. bob pisani reporting gamestop halted a number of times in what's been a volatile day of trading the stock down 50% or more the billionaire mark cuban weighing in on the sell-off earlier today on "squawk alley."

>> i wasn't telling people to buy more at all. in fact, i said, look, any of us who have traded long enough have been through the pain of making mistakes and the key is to learn your lessons and if you're going to hold the stock, you can afford to hold it, i'm not a fa market and so if you can afford it, to hold on. but certainly not encouraging anybody, you know, that said, i am a fan of what's going on with wsb and i like the idea of just collective buying and i think it could really have an impact on the markets in the future. >> not sure what he just csaid there. for more on this reddit revolt and the impacts to the market, of rosenberg research. let's start with his comment that he's not a fan of selling into a falling market, but my goodness, if you owned or you bought because you were tempted, you bought the stock there,

gamestop at 200 and it's now 100 and going down, why wouldn't you sell >> well, i think that you probably would, you should be selling because the whole trade here where what we used to call minnows, retail investors and all of a sudden, they turned into sharks. and they smelled some blood and the company happened to be gamestop it could have been x, y, z just noticed there was this incredible leverage position on the stock that was greater than the outstanding share valuation and so they saw an opportunity here to force a classic short squeeze. this is not the first time it happened between institutional players. maybe the first time between retail investors and an institutional investor, but let's just call it for what it was. we had a hedge fund that was not managing its risk exposures appropriately. this is a big learning lesson to

be very cautious on your risk exposure and your leverage and now on the other side, i mean, these retail investors that were buying last week that are having their hat handed to them i don't think they understand what it means, to be investing in the call option on these stocks because you're leveraging up there's two lessons here on both sides of the equation. managing your risk exposures appropriately in the hedge fund industry, lesson number one and thankfully, no contagion effect on the markets rallying. on the other side, these band of investors buying speculative stocks that only lose money, but there was no business model or any intellectual capacity behind what the retail investors were doing. they just noticed an anomaly in the marketplace which were these extremely leveraged shorts by one particular player. they took advantage of it. and the story's already run its course >> i'm not sure i understood mark cuban particularly well when he was talking about

something being a good thing for retail investors so i'm going to gloss past that. if you understand what he was saying, pick up. i think i left him -- >> that's why i probably didn't answer the question appropriately because i didn't either >> i'm not sure what he was saying there, but what does this phenomenon, this reddit phenomenon say about the broader market and whether it is at, in, near, beyond bubble territory and the risk of that >> well, look. it has nothing to do with the markets being in a bubble. i mean, that really comes down to the dramatic influence that uber low interest rates have on inflating multiples on everything and not just in the equity market. it's in the corporate credit market it's even in the residential real estate market so it's quite an demmendemic an seeing the impact and not just

in the u.s. market, it's global. the influence of the retail investors, i mean, i think in three, six, nine months, this will be an asterisk in history the retail investors have always been there these investors so far as they can collectively come in and buy certain classes, to me, you drive silver up beyond its intrinsic value, for me, that might be a great shorting opportunity. it's just creating, if it's creating anything, probably creating more volatility in the marketplace more than anything else. >> why, david, are you so dismissive of this group of investors? when we've watched social media and technology go into other parts of society and there's no looking back, i mean, take a look at the impact facebook has had. twitter has had. not just on discourse but on politics, for instance why wouldn't the advent of technology, whether it be from apps like robinhood or sites like reddit have a lasting

impact we've seen it time and time again. >> well, look. i think in this specific case, you know, last week was a specific case, melissa, where a hedge fund that was overly leveraged, overly exposed with this short position that got exposed. i'm not so sure, i think there's a big learning lesson there. we're going to be seeing lightning strike twice in the same place you know, at some point, the markets will settle down we've got this group of investors, they're not really fundamentally based investors. but move to a silver and tlheres going to be a lot of people on the other side of that trade, should silver go up 10 to 20%. didn't move that much nor the commodity that much, but silver. at some point though, people will catch on and quickly bet against these speculative trades and you'll end up getting a wash so i think that's what really is going to come out of this.

i guess if mark cuban is right, there's nothing immoral or nothing illegal. maybe there's a new entrant into the market and -- >> but the fact, david -- >> but they, you see, they'll be squeezed out very quickly. >> i understand that these are very specific stories, but the fact that you say hedge funds are going to right size the positions and not become so overly exposed again, that implies that there is an impact, even if it's how portfolios will managed, there's a more lasting impact on how we trade collectively than before we know that this is a force that can actually make an impact and have ripple effects on the market now >> i guess i look at it a little differently in terms of what happened last week with gamestop, it was e soteric. you have to manage your risk every day appropriately and so,

somebody developed an anomaly and left on it with call options. lench after option it causes these exaggerated moves. that part is good news and if i'm running a hedge fund, focus on my risk exposure. so that's something different. you know, these new band of investors that are creating this volatility, this will get squeezed out if they're not investing, investing on some fad or on some flow, there's nothing fundamental. it's going to come out very quickly. >> they may be squeezed out but they may not leave the market. that's chapter two, perhaps. great to see. >> learn your lesson the hard way. >> perhaps david rosenberg. how will the fallout from the reddit rebellion affect the robinhood ipo? bring in leslie picker and i don't know how that additional capital raise is viewed at this point. >> yeah, that's the key

question, melissa. robinhood and its advisers they're all grappling with what to do in terms of ipo moving forward. the company has several class action lawsuits. congressional hearings hoards of customers who are fed up by the recent trading restrictions but robinhood also has record app downloads and a need for capital to meet those regulatory requirements amid volatility in certain pockets of the market and that, of course, is despite having raised more than three billion in just the last few days. so that, of course, brings us to the ipo. i've been told it's been deprioritized, as robinhood really fights fires on a multitude of fronts. company wasn't close to debuting anyway no official ipo date had been set. this recent crisis though and this recent turn of events could affect a few things. number one, valuation. reports suggested that robinhood was targeting about $20 billion for a price tag in the deal.

that figure could move up and down depending how recent events unfold and number two, method. does robinhood still pursue a traditional ipo method to go public or does it do something like, say, a spack merger and timing, when is the right time for a debut, guys? >> leslie, any thought that perhaps a regulatory environment might ding its valuation or perhaps delay the ipo even further if there's questions surrounding the payment for order flow model which is basically its business model, then it's got a big problem. >> yeah, so one thing i'm trying to figure out is what this most recent equity infusion, what that has meant for their valuation. has it helped it go higher has it gone down on one hand, you could say that there are all of these downloads that have taken places people draw more attention to robinhood but as you mention, the company doesn't make money based on the amount of people who are downloading their app.

they make money by selling their order flow so if there is more regulation that would affect their business model or way of making money, essentially, then that absolutely, based on what we know at this point in time, that could affect valuation if it impacts their future cash flows. >> leslie, thank you leslie picker. tyler? all right, we've got a market flash on kraft heinz and hormel and courtney reagan has the details. court? >> hi will,there, tyler kraft heinz could be nearing a deal to sell its planters snack business to hormel the deal could be valued at $3 billion. this is according to sources close to the matter in this "wall street journal" report you can see shares of hormel higher by 5.5% kraft heinz off session highs now but still higher by about

0.6% on this report. you might recall that they're going through a process of divesting brands as consumer tastes have changed. although we know that there's been sort of a harkin back to nostalgia brands during the pandemic as well so perhaps a little bit of a confusion, should we get rid of them or not, depending how long the nostalgia lasts but shares higher for hormel and kraft heinz on this report tyler, back to you >> too early to say, but $2 billion for planters is not peanuts, right >> i like that one, tyler. >> all right good to see you again, court coming up, more on the retail trading frenzy. will it take the stock market a more level playing field we've got those details. new bitcoin fund could hit the public market. why it is filing now and whether it's a good sign for bitcoin etfs mo "weluh"ig aerrepor nc rhtft this

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bitcoin hovering around 35,000 driven in part by more money coming from institutional investors. asset management coming to capitalize on that for bitcoin fund to trade publicly sees this bitcoin specific fund as a rival to gray scale's trust. asset management chief investment officer good to see you. >> thanks for having me on excited to be here

>> we now had to compare this. look at gbtc the expense ratios are different. is that where you hope to differentiate yourself >> that's the big point of differentiation. both gray scale and us managing money in the crypto market for a number of years, well established. use institutional custodians big difference, we charge 1.5% fee. they charge 2% fee obviously, they're larger and more liquid but we want to give investors more of a choice if they care about fees from reputable established managers that's why we bring this out to public trading hopefully. >> can you explain the more liquid part of the equation? that caught my attention. >> sure. it's just like in the etf space. often, the first mover in the etf market becomes the larger fund and there's more trading and it's liquid. easy to trade. and then you get new entrants that come in with lower fees and less liquidity but if you trade it a little bit more carefully, maybe it's better for long-term buy and hold investors as

opposed to short-term. we specialize in serving professional investors and people who want to take a long-term allocation to crypto and those fees add up over time. >> presumably as this particular fund should get the green light gets bigger and bigger, it would be liquid, as i imagine as larger fund like gbtc. >> i love what you're saying and i hope that's true over time, we hope it gets more liquid and that's our expectation. and again, we've seen it tile a and time again this is an otc traded trust but the same rules should apply. people care about fees and quality. hopefully, we're giving them both >> you know, matt i know you, our viewers know you primarily from etf.com and inside etf. so i wanted to get your take on what's going on with gamestop and the ride it's put some specific etfs on with it, mainly

retail and even the rufssell 2000 was the largest component on the russell 2000 what's your take in terms of the impact on sort of the narrower etfs out there >> i think it does expose a risk which is when you get those very narrow etfs, the select stock baskets and significant run-ups, you could see single securities coming to be a big part of that portfolio. i think we're all wrestling with the implications of gamestop, not just on the etf market but other parts of the market. you know, i think we'll see probably etfs take a little bit more discretion around the edges with unusual circumstances if they continue this way, but it is something for etf investors to think about and be aware of just because it's an etf doesn't necessarily mean it's dive diver diversified, right we've come a long way from the spiders of the world to get broad-based exposure narrow etfs. they can be very interesting, very exciting, very good for portfolios but you do have to be

careful and what you're pointing out is one of the reasons why. >> do you hope, let me rephrase that do you hope to have a bitcoin etf and what do you think that will do in terms of assets in the market for bitcoin >> absolutely, melissa we're working day and night and have been for years on trying to get a bitcoin etf approved by the sec. it's not just us but other asset managers i think it will open the market up to a large number of investors. no perfect way to get exposure to bitcoin you can buy it on your phone but security risks buy through one of our funds but premiums and discounts that come with these otc traded trusts and would make it push button easy and bring more investors into the market i think it's going to happen the question for investors is, do they want to wait until it's push button easy or use one of these other alternatives to get in before that happens and that's just a choice every investor has to make and different investors will weigh it and decide differently. >> great to see you, thank you

>> thank you for having me. >> matthew hogan of bit wise stocks soaring as we wait alphabet and amazon earnings why it could all come after. obsession has many names. this is ours.

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the reddit fueled stocks all plummeting today, a loss for the so-called little guys who banded together to gang up on hedge funds. but all's fair in love and war and trading, right robert frank joins us now with the numbers on who owns stock and how much, robert >> hey, tyler. one of the big questions here, whether all this retail trading

boom democratizes the stock market or alienates an entire new generation of investors and this is important because the top 10% of americans now own 88% of all corporate equity and mutual fund shares, among the highest shares on record and actually, above the pre-pandemic levels now, the peak for american stock ownership actually appears to be back in 2002 when 67% of americans said they owned stocks now about half of all americans don't even have any participation in the stock market even if you include retirement accounts. now the concentration is especially high at the very top, the top 1% now owns more than half of all stocks they gained over $6 trillion in wealth since march now, generationally, today's millennials also lagging way behind the median value of their stock holdings, about a third less than gen xors at the same

stage in life. look at the disparities along racial lines, getting worse. stock ownership with black and hispanic households now about half of that of white households so tyler, we need more americans involved, to have a stake in this market. we'll see when all the dust settles from these trades whether some of them stay in >> well, this is a fascinating topic here about inequality of wealth, inequality of stock holdings and of course, i guess my feeling here is that if you don't have discretionary surplus cash, it's very hard to get started in stock owning. if you are working just to pay the rent and put food on the table, it is very hard to separate out one, two, three percent of your earnings into a 401k or open a stock market account separate from that

>> you're absolutely right and add to that, the student loan problem. generation, look at millennials, the amount of student loan debt they had to take on to get through college. that made it even more difficult to save and so one of the ideas out there, which has gotten a lot of bipartisan support is the idea of a baby bond, when someone is born, you give them either $1,000 or $2,000 or a $5,000 loan that they can then put in the stock market and have that throughout their life so even if they have trouble saving and investing early on in life, they will always have that money that was tucked away when they were born that's one idea that could gain traction in the capital. >> robert frank, thank you very much melissa? ahead on "power lunch. new highs ahead of earnings after the bell amazon on deck what can we expect from both companies growing cloud businesses plus, putting the pedal to the

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welcome back, i'm rahel sullivan trying to get more americans vaccinated quickly, the federal government will be sending 1 million doses to more than 6500 pharmacies around the country with emphasis on minority communities hit hard by the pandemic and that's on top of the allocations already going to states 401 law enforcement officers died due to covid-19 since the pandemic began

that's according to a new count by the paternal order of police. it says almost 100 of those occurred in texas. the top state on the list by a wide margin. andrew yang who ran for president last year and is now running to be new york city's mayor tested positive for covid. in a statement, he says that he has mild symptoms but is otherwise feeling well and in good spirits as he quarantines and you are up to date i'll send it back to you, tyler. >> thank you very much and let's take a look at the markets right now. very, very healthy day for stocks especially the dow soaring 550 points or thereabouts. nearly 2% gain both nasdaq and s&p 500 are up more than 1.5%. so is the dow, for that matter the laggard here, relatively, the russell 2000 up 1.1% oil market closing for the day courtney reagan has the numbers. court?

>> more than 2% as opec gives support to those prices. above the $57 mark more than a year forecast elsewhere given a boost in the flat line after 11% gain. melissa, over to you. >> thank you amazon and alphabet higher after the bell big names from their cloud businesses, microsoft delivered strong results last week from intelligent cloud unit which includes azure more than $11 billion in sales and more than 3 billion in revenue from google cloud. plans to break out costs

at raymond james i know you're going to be really busy after the bell so what's the first metric you look for in amazon's report and in alphabet's report? >> all about total revenue growth 35% slight moderation in the online growth amazon web services 29% growth fairly similar for fairly stable growth in the 30% range and advertising looking for strong growth around 38% year over year, and then income about $4.4 billion. still have a head wind from covid but we think that will get easier in 2021 as well from a google side, looking for net revenue growth about 18%

that's actually an acceleration with 15% in q3 generally indicating a reacceleration of growth as it reopens on surge from a 5 point acceleration to 11% and about 7 point acceleration from 32% to 39. on the cloud side as you mentioned, looking for strong growth there 34%. i think the profitability would be less important at this point. we want to see them continue to grow in a healthy way and margins will come later. >> for both of these companies, aaron, we're going to come to a point where it's going to be more difficult comps, both of them did pretty well during the pandemic particularly for amazon. how does amazon keep the momentum going and what is already priced into the stock at this point >> yeah, definitely with amazon, you'll have tougher comps in 2021 i mean, the commerce side, clearly a tailwind for number of e-commerce companies moderate growth. 10% to 15% range especially in

q2 but as we talked about, you've seen the big head wind about $10 billion this year. the operating side from covid, we think that will ease in '21 as well so even though revenue growth will slow, likely get some profit improvement in 2021. on google, you actually have opposite situation we have pretty tough easy comps in q2 with google search people doing less searches early on, specifically in the travel sector, which was a big head wind and we're starting to see reacceleration in travel spending as consumers traveling in the second half of this year. comps on the search side as well as youtube will be fairly easy in q2. making it tougher as the year goes along though. >> how should we think about the pick-up in travel and google you don't think of alphabet as a reopening play but maybe investors should >> yeah. we think travel represents roughly 10% of the search revenues and that almost 1 to 0 in kind of q2 of last year

and so that's going to have revenues come back especially in the second half of the year. travel advertisers are starting to come back in a healthy pace, even in q1 here anticipating the stronger second half recovery at this point so specifically in the travel side, we do expect a stronger growth there, which should boost overall google search volumes. that plus e-commerce continues to be biggest part of google search expecting a pretty decent from revenues. >> great to hear from you, thank you. for mo for more, go to cnbc.com/pro tyler? the markets are rallying today ahead of those earnings we expect later the dow leading the way up nearly 2%. s&p 500, nasdaq up very spritely as well but gamestop and the reddit stocks sinking. we'll show you those names and

the big movers ahead on "power lunch.

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time now for today's power movers we cannot discuss movers without looking at the big declines in the sold meme stocks, gamestop back below 100 and then amc and koss down more than 1% but changes, big winners on the year kathy wood in arc investments, draftkings shares part of the next generation internet etf and end with pot stocks, continue to rally as cannabis regulation more favorable across the globe. movement in portugal and france and many looking at mexico as the next country likely to legalize all the stocks on your screen have doubled in the past three months now let's get to seema mody for "trading nation. >> chipotle, that's the stock we're talking about today hitting a record high ahead of its earnings after the bell. t trifecta of menu innovation and a strong quarter will the company deliver and

what can ceo brian nicholl to keep the bullish story in tact mark with strategic wealth partners and global and advisers what really stood out to me was chipotle's plans to hire additional 15,000 workers here in the u.s does that tell you demand is expected to remain strong as restaurants reopen and consumers are presented with more food options? >> i would say so. i mean, one thing that they're really doing very well is they're rolling out additional units. specifically, units with drive-throughs, which is great that's obviously where we're headed as a country but when it comes to chipotle, i love the company, what they've done and doing right now with rolling out these new stores but i don't love the valuation they've done a great job of evolving the menu to target customers that wouldn't have eaten their food before. keto, vegan, paleo they're rolling out new units with drive-throughs. doing everything right through

the price in my opinion already reflects that, $43 billion priced for perfection, so seema, you mentioned digital, mobile, delivery at the beginning. if that's what we're trying to play, i would personally rather do that through wingstop that's a $4 billion company rather than a $40 billion company and it's super bowl week i'm focusing on wings and pizza right now over burritos, honestly with wingstop, they have an asset-like business margin and it's a very quick roi for f franchisees, it reminds me of domino's pizza about five years ago and we know what happened to domino's over the course of the time frame, basically quadrupled that's how i play this >> they both have that digital strategy working for them. chipotle, speaking of valuation trades forward earnings is there something brian nicholl could say tonight that would make you less concerned about the valuation? >> no.

i actually think that valuation, you know, definitely has a lot of positive priced in. if you look at the forward expectations or even the targets that we're expecting this evening, something like 7% sales growth, opening of 200 new stores and better margins. there's no way that that gets over 40 times forward earnings i think that's the big fly in this ointment. >> well, the stock we're watching it closely ahead of earnings out after the bell. great to have you both on and check out tradingnation.cnbc.com ahead of alphabet and amazon earnings back to you. >> all right seema, thank you check out shares of carparts.com up nearly 40% in just one month. the stock has a high short interest, however. has the game been based on fundamentals or short selling

backlash we'll ask the ceo next on "power lunch. >> and now the latest from tradingnation.cnbc.com and a word from our sponsor. >> if you're an active trader, sitting on the sideline can be difficult, but it's important to resist the temptation to overtrade. in times of high volatility, you may want to consider trading less or reducing the size of your trades. and when things really get crazy, well, sometimes the best trade to make is no trade at all. i'm joanna payne and schwab is thbeerla f tde e tt pceorrars

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they provide the potential for regular income...are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217 the reddit trade reversing, game stop and amc tumbling today. car parts.com is another stock that has been shorted and has seen volatility. but it is up this week after the launch of its new shopping platform for electric vehicle parts. lev peeker is the ceo of car

parts.com. we welcome him in now. welcome back thank you for being with us. >> thank you for having me. >> let me ask you about the high short interest in the stock in light of what's been going on in the market as i understand it, you have got about 40% of the shares are being shorted. is that of concern to you? or do you just play past it? how do you handle something like that >> we have about 46% of our float that's short right now and, you know we are really focus on building a great business and on delivering a mission to our customers, which is get them back to the road and you know, the short thesis on our stock is that we are a covid play and that once covid is over, people will go back to shopping the way they used to. however, we haven't really seen a slowdown in our business if you think about our q 3 results, we grew 70%, and we

grew three to five times faster than our closest competitors we will continue building a great business and focus on solving a customer problem and the short ends will work itself out. >> sure. at the same time there is a rise in your stock. so i am curious how you think about additional capital raise you said previously you are open to it. it would be your obligation to share hold erls. are you poised to do so? last registration was back in august when you did a capital raise. it looks like it was associated with that capital raise back then >> correct we have a shelf. we filed one last year for $250 million. we raised $65 million. we don't have a need for capital today. but as valuation change i think for some companies it is kind of a way to make something reality. if you look at a company like tesla, they kept raising money

at higher and higher valuations and it allowed them to grow into the value they perceived we are open to doing a raise but we want to be targeted and very specific about the price we dilute our shareholders. depending on the valuation, that's how we think about capital raise. >> the company is performing well right now, lev. in the last week or so, you introduced a special sort of part of your website that will sell car parts for electronic vehicles -- electric vehicles. i keep saying electronic electric vehicles. how is that going? over time, what percentage of your revenue do you expect those parts to be compared with car parts for conventional fossil fuel vehicles? >> yeah, so a common myth is that electric vehicles and combustion engine vehicles have different parts.

93% of parts are actually pretty similar. you look at bumper covers, and fenders, and door handles, and headlights, and taillights all of those parts are the same whether it is a combustion engine or an electric vehicle or hybrid vehicle hybrids have even more parts than a traditional vehicle because they have both an electric component as well as a fuel-powered component so those cars have even more parts than a conventional vehicle. by 2035u all new cars sold by gm will be electric california announced something similar, by 2035 all cars that are sold in the state will be electric our sweet spot is a six to 12-year-old vehicle. but we believe in building on it today and continue on our mission of getting drivers back on the road regardless of what vehicle they own or drive.

i think our percentage of vehicle will follow the penetration of electric vehicles and hybrids into the overall car market as they penetrate more and more we will se shop.

again you can watch a video on youtube, 15 minutes your time and you can save quite a bit of moneyshopping on line, buying your own parts and doing the repair yourself. our business is counte counter-cyclical when the economy does worse we do better? lev peeker, car parts.com. thank you. the dow holding on to a nice rally. it is up nearly 60 points. 583 to be impact goldman sachs, disney and american express leading us higher a reminder tcorisn uli oonwah ltetos ver the go on the cnbc app we are back after this

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call today to request your free bond guide. ♪ pour some almond breeze. ♪ ♪ for the maestros of the creamiest-ever, ♪ ♪ must-have smoothies. ♪ ♪ it's irresistibly delicious.♪ ♪ more almond breeze, please! ♪ two of the big stories today, folks, the rise in bitcoin as it goes up a great deal but eclipsing that, really, is this massive move in the dow industrials, up nearly 600 points right now almost 2%. the s&p roughly the same same for nasdaq. maybe it is relief from the reddit spasm of last week. maybe it is a realization that a big stimulus package may be pushed through by the democrats alone. whatever melissa, stocks are up. >> yep, one stock that is up a lot. we had this in the power movers, tyler is draftkings on news that kathy woods's next-gen etf is

taking a stick in it she seems to have the midas touch in the stocks she chooses. this is partly technical part of it is just that they have seen the vision that kathy wood has we will have much more of this on fast tonight. i will see you then, tyler thanks for watching plench "closing bell" starts right now. >> welcome to "closing bell," everyone i'm wilfred frost with sara eisen. stocks bouncing higher again let's will be at what's driving the action the unwinding the meme trades, game stop, amc all lower today we will have more on that dramatic action in the market coming up. earnings continuing to come in strong, u.p.s., alibaba coming in strong.

momentum plays ath