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tv   Power Lunch  CNBC  April 26, 2021 2:00pm-3:00pm EDT

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good afternoon i'm tyler matheson literally alongside kelly evans today. the celebrity ceo elon musk, that guy, will host "saturday night live" next month we'll talk all things musk as they report results in a couple of hours. ceo pay is a hot topic several companies shelling out big bucks while the companies struggle through the pandemic. cowboys and crypto how did wyoming become a haven for cryptocurrency companies we have all that and more as "power lunch" starts right now
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stocks are higher today, more than 100 of the s&p 500 companies hitting 52-week highs today. let's go to dominic chu for more. >> out of that 100 some, 70 some are hitting record highs to give you an indication of where we are, just a stone's throw away from record highs in the s&p 500. still though take a look at the sampling mega cap, alphabet up and microsoft just about flat on the day and hit record highs in trading today and capital one still holding on to 2% gains stanley black & decker is weaker but a play on home improvement trade that stock hit a 52-week high today best performing stocks in the s&p 500 in 2021, check out l brands and gap both of these stocks here also
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hitting some decently high levels here. l 65% for gap stores and taking a look at some of the other parts of the market, watch shares of etsy down about 4%. after the online retailer platform gets a downgrade to the equivalent of a neutral at key bank capital markets thinking that the potential is waning a bit and still like the long term growth prospects a real pandemic play those shares off about 4%. back over to you. >> thank you. now more than 228 million vaccine doses have been
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administered in the united states and multiple states expanding to every american 16 and older but at the same time millions may be skipping the second dose. meg? >> hey, tyler. about 5 million people according to reporting from "the new york times" over the weekend the cdc confirmed about 8% of people received a first dose who haven't returned for the second. they don't know because of hesitancy or access but looking at hesitancy it's interesting. there's a poll by nbc and "wall street journal" shows hesitancy down to 19% why that's down from 27% in october so actually the overall hesitancy issue is improving however, we have gotten through the glut of folk that is really wanted a vaccine and now the different stage of the rollout here's a map of vaccine
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hesitancy across the u.s from hhs the darker blue areas approaching 30% estimated his ten sy and we heard that this tracks the states that might be having a bigger problem with demand than with supply. but this is starting to be something to see across the united states. data from good rx looks at pharmacy appointment vabltd across counties in the united states and april 5th about 850 counties had a surplus of appointments at pharmacies but two weeks later april 19th more than 1,100 counties with vaccine appointments available so it really is this kind of new stage of the vaccine rollout where making sure you get to folks is a little more difficult than at the beginning when everybody was just trying to get a shot. >> it is good to see you again i thought about skipping the second one i was fine after the first i don't know -- all these
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interesting stories and i had anecdotally with friends as well affecting women's cycles and that i don't feel like i'm hearing about and pfizer on in the morning and maybe a good question for them unless we know the answer but people are -- damned if you, damned if you don't. no one wants covid but surprising the way it affects you, especially women. >> absolutely. that issue is not looked at well enough and i think folks reflecting on the women's cycles is not studied greatly ever and something that needs to be taken into better consideration but the overwhelming evidence is that the safety for these is absolutely in favor of getting vaccinated and that for those of us who have gotten the two dose vaccine we need the second shot but i only had one dose and i didn't feel great after the first but i will get it. >> i had the chills overnight and out of commission.
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last quick thing on this sometimes seems like the healthier people affected worse than the older, less healthy people is there anything that confirms that or a thing people are saying right now >> no. that is something they observed in trials. often younger people will have stronger reactions because the immune response is stronger but not translated into less of a protection from the vaccine but we might feel the chills and other effects more strongly. >> yeah. meg, we appreciate it. turning to earnings, a big week as worries and inflation in focus or investors is all the good news already priced in or does the rally have more room to go? katie nixon and james brooderman joins us what's most in focus for you the joult look and what people say in terms of margin
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pressures? >> i would say absolutely. we are looking for any indication whether these near term inflation pressures worming through margins or if companies raise prices and i think we are really listening for forward guidance and quite a while since corporate america gave us direction in terms of the businesses to evolve during and after the pandemic so i think we are going to really be look fsh some forward guidance for a change. >> yeah. james, what kind of forward guidance are you looking for this is a -- is this a quarter in which we start to see this pivot from maybe -- away from pandemic plays >> well, the forward guidance is important and i expect that we'll start to see a return to some type of forward guidance. if you look at the last four quarters and the number of beats on the corporate earnings front
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it is interesting that it correlates with a lack of forward guidance and the area that analysts are missing is expansion in margins that says companies did a good job to tighten the belts into the pandemic and cut costs and hopefully that's going to continue with solid margins coming out the other side and if you add to that the likelihood of passing on some price increases i think that the margin story remains mostly intact. >> katie, two questions. last week the market hit a bit of a banana peel on the potential tax proposals. is that something that's so subject to negotiation that it is not worth stewing over right now? number two, what about europe? >> tyler, on the biden tax proposal as you said very early days here and will see how the
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negotiations play out but there's strong democratic support to raise taxes on the healthy households and a variety of things to do to mitigate the impact of much higher taxes even not going to 39.6% on capital gains and could go to 25%, 28% and certainly worth planning around if you want some leverage to the global economic recovery story look at u.s. value stocks or look at european equities in general with higher exposure and cyclical industries versus the u.s. market which is so leveraged to growth. >> all right james, let me get the same response to you on taxes are you factoring them in if at all? >> we are not factoring them into the overall circumstances
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yet. certainly it's something that clients have to be aware of and doing more financial planning and estate tax type planning with the clients these days but as far as corporate taxes i think there's room to negotiate in washington and republicans in higher tax states that are going to push back and so there is room for compromise. i don't think we're going to see anywhere near the levels that the biden administration is pushing for. i certainly hope not but also on the personal side because my personal belief is that trickle down economics works the same way for tax breaks as it does for tax increases and that could impact negatively the economy and especially wages of hard working americans. >> very good >> all right katie, james, we thank you very
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much appreciate your time today. move over gamestop microvision is the new darling of the reddit day traders. plus tesla stock higher ahead of the reports later today and elon musk personal stock is rising. ow lchexon you why nt "perun." ♪ i wish that i knew what i know now ♪ ♪ when i was younger ♪ you need a financial plan that fits the way you want to live in retirement. a plan that can help grow and protect your money. now or in the future. with an annuity in your plan to help cover essential expenses, you can live the retirement you want. the right financial professional can show you how. this is what an annuity can do.
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welcome back we have musk ceo earnings after the bell can the maker post profits
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again? phil lebeau has more on what to expect. >> typically before a tesla earnings report the stock moves higher take a look at shares up over 1% the big news it is coming after the bell with the numbers and then of course the conference call. three things that people are focusing on from tesla's q1 financials they are expected to post a profit the progress for the two giga factories being built. what's happening in china with both demand and production the giga factory in shanghai continues to grow and then full year delivery guidance tesla has been vague and basically hit the target of delivering a half million vehicles last year will they give us something more definitive today the numbers after the bell and the cone ference call at 5:30. don't want to miss "fast money" because we may have something from elon in the back half of
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that show. >> he is unpredictable and riveting to watch. thank you. for more is steve wesley, a man that knows them both very well a former tesla board member. welcome back >> thank you. >> we can delve into the predictions, the deliveries, the earnings and so forth but i think i'll spare that and talk more broadly about this company. i wonder what its mote is and how stiff the competition is going to be for this company that's really had a very nice clean runway for the last five year just is it about to get real crowded >> it is about to get very crowded. i have been the biggest champion on tesla for ten years simply putt they move faster than anybody else, they beat numbers yet again, growing 50% a year why no one else is doing that and the clear innovation leader why they have made the
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electric vehicle space but there's about to be an avalanche of competition what you to see is the americans coming into the field. gm putting a stake in the ground all electric by 2035 i think vw is toughest competitor and then the chinese coming quickly don't forget they've got a huge cost advantage in labor and battery costs and you have the chinese government thepg them out to boot so tesla is doing a great job and about to see a tidal wave of competition. >> you led me perfectly to china which seems to me to be a major wild card for this whole industry in part because asyou say they have 70% of the batteries and don't they also have most of the rare earth metals needed to make the batteries?
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they're in the cat bird's seat, aren't they? >> they are in a lot of ways tesla's really been number one ev auto company in china they got there first chinese love a powerful brand but it is about to get tougher there's a tesla knockoff on the market at roughly half the price. china has an advantage on rare earth metals but tesla finds them in other places i think the real issue is the chinese government is going to have a real cost advantage china's the biggest auto market in the world and chinese companies will dominate the chinese market can tesla continue to dominate in north america and continue to do well in europe. the head of volkswagen has other plans but if tesla leads the way on the cost down curve on batteries, they're doing extroid their things there, continue to
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innovate they could be doing just fine. will they keep $750 billion valuation? time will tell. >> knowing what you know of the company and of the personality of the head that drives it you have laid out the strategic problem and issue for them are they up to and do what you said they need to do which is maintain primacy in north america, two well in europe amidst increased competition and hang on to some share in china what do you think? and then i'll ask you about elon and "saturday night live." >> will tesla continue to execute? they will. they developed a new battery they've put a stake in the ground and said they're takes costs down 50% but so is volkswagen and had the playing field to themselves and it is
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not that easy going forward why you said at the beginning what is the real mote i think they have a technology motte in batteries and technology mote in autonomous. the competition is coming faster than ever and requires elon's full attention between that and spacex is he going to have complete attention? i hate to bet against him but at $750 billion market cap you have to ask yourself is this company worth more than toyota, volkswagen, daimler, hyundai, honda put together that's a tough stretch. >> everybody will be watching "saturday night live "is he funny >> is he funny look who cares? he's the most -- >> exactly. >> everybody's going to be watching and probably have an announcement but the point is he captures people's attention and their imagination. is he going to be gymmy kimmel
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or tom hanks who knows? >> of course. >> we'll be dialling in to watch. >> we will be watching he has to do something erratic my gosh! a perfect platform to do it. we appreciate it >> you bet happy to be here. speaking of ceos executive pay is in focus. even as companies that struggled through the pandemic and will discuss the details ahead and shares of microvision sharing more than 30% today and trending on social eclipsing gaemestop keeping your oyster business growing has you swamped. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates,
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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.
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choose the app that fits your investing style. ♪♪ first games and amc and now microvision, a company that makes technology for self driving cars and soaring 30% today and up 125% in a week eclipsing games as a stock they talk the most about. justin zhen is joining us with thinknum alternative justin, why this stock >> hey, kelly. thanks for having me
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so the story behind microvision is kind of interesting when basically back in february 10th the company announced to work on lidar product and if you look at the alternative data the number of job listings by the company increased over 200% and almost all jobs fairly technical in the space and if you look at the comments back in february 10th you will see that the community started talking about the technology and really getting behind it. that sort of died down a little and then interest went back up early april when there was talk of a potential stock squeeze and more discussions around the technology but really over the last week is when you see this explosion in comments of the application of the technology and yeah it is now the most talked about stock on wall street bets ahead
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of gamestop. the first replaced gamestop on the channel. >> wow microvision up 34% today extraordinary. this would be such a huge headline how much staying power will it have and are there other names you think to eclipse it and become the next hot talked about thing? if i'm looking at this trying to figure out to ride this wave or is it about to crash >> it's hard to say what will happen in the future but so far gamestop has had by far all the attention on wall street bets and to see anything up there let alone replace it is astounishing and looking at the comments it is not just people liking the stocks but actually really looking at the job listings and what management is saying to get behind the long term future of
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the lidar space and microvision. >> these are huge moves. gamestop is also up 9% on the session today. thank you, justin. >> thank you. and ahead on "power lunch," ceo pay sky high even among companies that struggled in the pandemic that discussion next. plus wyoming becoming the more crypto friendly state in the country. we'll explain when "power lunch" returns after this quick break what happens when we welcome change? we can make emergency medicine possible at 40,000 feet. instead of burning our past for power, we can harness the energy of the tiny electron. we can create new ways to connect. rethinking how we communicate to be more inclusive than ever. with app, cloud and anywhere workspace solutions, vmware helps companies navigate change. faster. vmware.
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welcome back i'm rahel solomon. here's the covid update. the united states will be sharing the supply of the astrazeneca vaccine with other countries. 60 million doses should be available for export following a safety review. the biden administration said the three vaccines in the u.s. mean that the country doesn't need the az shots it's lined up. president biden spoke today with india's prime minister about the u.s. assistance for the country as its crisis accelerates. scenes of december profession of hospitals packed with sick
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patients ahead of the world health organization says that the situation is beyond heart breaking. president biden will be announcing new cdc guidance on a mask outdoors. nbc news is told that could happen as soon as tomorrow and likely distinctions made between people fully vaccinated and those not and final recommend vagss are being finalized. starting in september france's sanofi will have the new jersey facility fill and pack up to 200 million doses of moderna vaccine to help meet demand in the u.s. you're now up to date. back to you. >> thank you. ceo pay again becoming a very hot topic for investors "the new york times" running a piece headline ceo pay remains stratospheric. a company is norwegian cruise line frank del rio with $36.4 million as the company basically shuttered last year, lost
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billions, laid off worker so why does the story pop up every year do they need to pay the salaries or not care? because the bad press only lasts a single day bring in knell minnow and dan crutchfield. i look at the numbers and every year oifl like so many -- like other things in the culture, we have thoughts and prayers, we get upset seeing the numbers but then a few days afterwards we just go back to normal why don't we seem to care or is it just sort of the way it is? >> one reason is that it's seasonal, it's a big headline and the way is the media covers the story and always this company paid this amount, this company paid this amount there are human beings on the compensation committee and i have never seen a news story
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that mentioned who it is who's approving the pay plans. another reason is that up to 70% of stock based pay has to do with the market and because tesla and ppe are avoiding the stokt market they get huge winfall profits nothing to do with their performance. >> in other words, it doesn't matter if the company does well. do you really believe that if we us in the media were to call out individual members of compensation committees at for example a norwegian or hilton or boeing that it would have any effect >> it would have a big effect but further more just at the end of the trump administration for very, very onerous new rules pushed through making it harder for investors to talk about big
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pay. they made it even harder for large institutional investor who is are sophisticated to object to the pay plans. >> these votes are basically advisory am i understanding that correctly? >> that's right. even 55% vote company can ignore it. >> so, dean, i suppose and i'm not saying you make this argument necessarily, i suppose there is an argument to be made on behalf of ceos and top executives who had to cut budgets and lay off people because the very existence of their companies at this time last year might have been in doubt if they didn't take the dramatic, draconian steps to right the ship and they are in part compensated for making those hard maybe existential decisions on behalf of
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shareholders is that a legitimate argument or not? >> absolutely why the caliber of the ceos is huge they have a lot of credibility and led the businesses very well and make decisions about keeping the ship in the right direction. and trying to recalibrate the business to do so so i think there's a lot we don't see and as a country we admire success and recognize they're in the billions of dollars of value so the ceos of these companies should be rewarded just. and because the business, the business environment hasn't fared well it doesn't say that the people are not talented and do not mean well in terms of the business ship right so i think this news to me to be honest with you is a bit like saying to the viewers what did you eat last wednesday most people will not remember and the same will be of this case. >> nell, i'd like you to respond to dean.
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>> i love it when they say to me the decisions will pay off in the long run guess what then you get paid in the long run because you know you will get a bonus then and why get one now? harley-davidson gave out a resilience bonus the feelings are hurt bonus. i'm a shareholder benefit and love it when they earn a ton of money but paid out earning it is an outrage >> i look here at some numbers that really are eye popping. pay come, made $211 million. the company made $144 million. boeing ceo $21 million laying off 30 thousand dollars loss at&t lost 5 billion and the ceo made $21 billion did take a pay cut, folks, from 22 million you look at these numbers.
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ge, $73 million on a company that's not by any stretch of the imagination performing dean, where is the performance that you need to see to justify these numbers? >> well yeah i think the key thing here is the stocks chase earnings and ceos need to chase stock performance and not happening here the debate here is between c-suisse greed and integrity disney took a pay cut and recognized accountability and reflected integrity. it looked at someone that accepted responsibility. what it seems like here is that's not happening so i believe there's a disconnect between the performance of the company and that is the actual priority yes. they need to chase the performance of the stock. >> as we do every year we point
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out that the average ceo company 320 times salary the average worker in 1989 it was 61 times. 320 sounds like obviously more thank you for your positions today. >> thank you. let's get to the bond now rick santelli is tracking the action rick >> yes it is very eventful. we have had two auctions 60 billion and 61 billion. look at an intraday of 2s. right around 11:30 eastern rates popping. did demand did not pop the demand dropped really, really soft demand for 60 billion 2-years and opening the chart to february see how close we are to testing a key level. if you go year to date we settled at 12 and this is somewhat a captured maturity
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that is going to behave like fed funds but do keep in mind it's important because the fed will have to pay attention. finally if we look at the dollar versus the looney, the canadian currency it is close to a three-plus year high why is that so important it is all about commodities, the australian dollar or canadian dollar finally the dollar index looks to have another fresh close back to early march back to you. >> seven-week low, thank you very much. after the break, we'll dip into chips key names are reporting this week and talk about the shortage and how to impact the results and the rest of the supply chain. take a look at the nasdaq at session highs. skyworks, docusign, there's the leadership we're back in a couple
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semiconductor stocks xp semiconductors reporting today after the bell so with demand high and supply squeezed where do you invest in the chip space the team today ari wald and mark stepper. mark, is there a name here, a company, to weather the storm better than the others >> i like amd, especially for new money. looking at the end market from a pure volume standpoint i like them versus the higher volume end markets and amd laggeded t this year. we just increased the position in amd around march 30th by 75% and we got word last year that intel server business whiffed once again and the amd stock popped because we know who's eating intel's lunch it is amd.
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amd's got better innovation, better performance and price point and competitive lead on intel. the most important is data center but add in the acquisition and diversified the portfolio so that's my play here. >> ari, navidia is diversifying. >> it has. and really i think what stands out about this industry is how broadly strong it is i could rattle off ten to 15 semiconductor names that look great in the charts and a great choice for cyclicality you want to own stocks, typically outperform in a rising market and a biggest u.s. chip player nvidia testing that breakout level at $600 this is a stock that with a $700
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print over 6 months. >> got it. thank you. follow us on twitter tyler? >> thank you very much. up next, the decentralized banks. how companies compete to bring credit cards to the crypto economy. and why it has made wyoming, yes, wyoming the hot spot for crypto currencies. >> and now the latest from trading nation.cnbc.com and a word from our sponsor.
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go♪ ♪ ♪nd ♪ ♪ ♪ deposit, plan and pay with easy tools from chase. simplicity feels good. chase. make more of what's yours. crypto looking to take the next big step in the evolution with more companies looking to offer bank-like services to customers and kate rooney has the story for us >> these crypto versions of wall street products were originally
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targeted to more early bitcoin believers but executives tell me it's a more mainstream audience with crypto lending and companies let you borrow against asets like bitcoin so you don't have to sell for a down payment for a house for example and high yield pseudobank accounts and bitcoin rewards cards popping up and coin base and high yield lets customers deposit and companies lend it out to hedge funds and share the interest rate in customers around 6% to 8% annual interest and the catch is a lot of companies are not banks and respect fdic insured so it's high risk and sometimes high reward and competition is heating up there's bitcoin backed cash
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loans and silver gate doing the same thing last summer and black fy, sels yuls and genesis doing the same thing back to you. >> whenever anyone says a pseudobank account i get history because the history is littered with things promised to be safe and pay an interest rate how do you generate an apy of 6% to 8% on a crypto currency how does that -- where does that interest come from >> so it comes from lending. the companies themselves have said we're not technically bank accounts but a place to store the bitcoin and volatile over the weekend dropped below $47,000 and lend it out to hedge funds saying we'll borrow the bitcoin to the hedge funds and seen as riskier so they might get 10% to 15% interest. they say we share it with the customers and see it as a way to acquire customers and executives
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say this really started with the bitcoin insiders who said i want to make money on bitcoin and also make this interest rate they're seeing people sort of searching for yield that might not traditionally go and try to store the bitcoin or earn an interest rate but high ris and the companies themselves have said we're not fdic insures and you're taking on a risk. so that is one thing to be aware of. >> thank you, kate. >> and as more crypto companies get involved in the bank-like activities some states are encouraging growth by cutting red tape and clarifying regulation and enter wyoming, the cowboy state, the least populated state in the country now perhaps the most attractive place for crypto companies. a series of changes allowed ante to obtain a banking charter in october and today fast money is moving their to cheyenne joining us is the chair and ceo
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of a vanty why wyoming? >> why not wyoming you don't have to be located anywhere because it is located everywhere it is entirely digital >> so that said, obviously location matters or else wyoming won't be so attractive it proves that kind of old school regulation and red tape or lack thereof could nurture its industry. >> sure. and most of the banking regulations in the u.s. are written, in fact a lot like commercial laws for example, the commercial code is written for written streets that had to be in paper form. so it didn't necessarily reflect what was happening in the crypto world and it is still true, in all states in the united states, but for one, wyoming, that the legal status of bitcoin and other crypto assets is unclear are they securities, are they property, are they money are they commodities these questions have not been answered in any state except the
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state of wyoming and that is the most important thing they did. it is the most boring, but we made crypto backwards compatible with the legal system so everyone knows they have clear title to the assets if they control the private key. >> it reminds me of legalized sports betting, first it was wow, look at new jersey and getting all of this revenue and other states say we wouldn't mind a piece of that ourselves so other states in the midwest, or out west, if we're going to do the same thing as wyoming did, because it is so easy to move jurisdictions, are they just going to jurisdiction shop. >> sure. and that is okay with wyoming. they've been a domicile. we're behind delaware for businessent rit registrations because where the limited liability company was invented within 1977 and within a decade all 50 states had llc laws but wyoming has obtained his franchise as number two in business entity registrations and so this is just a logical extension of that.
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we've created new business entity forms and clarified the commercial laws and we've done it over four legislative sessions now we're now up to 24 different laws that have been passed in the state of wyoming we have a huge lead relative to other states 15 other states have started copying us, though >> a big lead here so what kinds of companies, what kind of business cluster is being created around crypto in wyoming? i guess it is trading, it is storage, it is mining and everything but tell me about what is owe coming and what kind of business cluster is forming. >> we've seen all kinds. we've seen a lot domicile, but we've also seen as your colleague brian kelly announced today, we've companies move here and we are setting up these banks. trying to solve a practical problem. which is that historically the branch regulators in the u.s. were not friendly to crypto. now to be clear, the fdic would not ensure crypto any way so
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they're not insured by the fdic for example but there is a lot of reticence on the part of regulators we have watched the ice thaw but it hasn't gone yet but a lot of crypto start-ups not get a basic bank account to pay payroll and vendors, they were out of business if they lost their bank accounts and in the last crypto bull market there was a big crack down on the crypto start-ups and i watched many of them literally have to close doors. you're not a business in the united states if you don't have a bank account and many of them lost their bank accounts and the last minute and couldn't find another one in time before the end of the year. and literally had to close their doors. it was tough because there were a lot of legitimate businesses in that position and that is the problem wyoming was aiming to solve. and it is still a problem. >> it is a great explanation of the fact that wyoming is not unique in doing this for crypto. they've been a pioneer for some
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of the issues all along. katelyn, thank you so much we appreciate it. >> thank you. >> up next, we will take a look under the microscope at some stock moves you might have missed and stick around up next for "closing bell. skills ceo andrew paradise will weigh in on kathy woods big investment in the stock. we'll be right back.
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- [narrator] grubhub perks give you deals on all the food that makes you boogie. (upbeat music) get the food you love with perks from- - [crowd] grubhub. welcome back to "power lunch.
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tesla, big tech bitcoin dominated the headlines but the big three may have you missing out on a trade under the radar today and dom chu joins us with something that caught his eye today. >> so we've talked about the global computer chip shortage on the supply chain there is a shortage of new cars everywhere people are kind of paying full sticker price, some folks putting down deposits to save their place in line for a future car that is not even here yet. so it is impacting the price of used cars. but by how much. the folks at car gurus have an index of used car prices, the average price they're tracking is a little over $24,000 that is 16% higher than the same time last year so if new cars aren't as available and used cars are in the same kind of market dynamic, what do you do you fix up your existing car so it was part of that pandemic trade last year, availability for mechanics and car service
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centers was impacted by the pandemic early on but it is playing out more so with the fewer cars in the supply chain look at auto zone, advanced auto parts, riley automaker, up 16% and auto zone is up around 22% and advanced auto parts by 25% that is a doubling of the s&p 500 performance. now that is a derivative play on that global computer chip shortage we've been keeping a close eye. so that might be one of the trades to keep watching if that supply shortage stays in tact. >> and it is interesting, so you have a scenario in which the likes of auto nation are doing very well because people are so desperate for a new car, they're paying over asking price but i don't think that is sustainable. would you want to buy into this name now with that price at an all-time high. dom, i read in reuters, the guy said we hope this is a new normal for the auto industry i'msure they do.
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but i find it unlikely. >> here is what i would say, the biggest jumps in used car prices, you could probably guess, it is suvs, vans and to the biggest extent pickup trucks that is the hottest part of the used car market right now. >> todd can't get his pickup this year. he's going to have to wait dom, thanks. >> you got it. >> thanks for watching "power lunch," everybody. >> "closing bell" starts right now. >> welcome to "closing bell. i'm wilford fast along with sara eisen. a new week mostly in the green i'm not meant to be moving now i'm in shot. the dow has slipped lower. the nasdaq and russell 2,000 leading the gains with small caps up more than 1% as we head into the the time trade. opening trades are getting a lift, airlines getting higher on a restart of travel to europe for vaccinated americans and movie theater stocks are climbing and bitcoin is recovering, up 9% after touching th

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