last a long, long time morgan, back to you. >> rick santelli, thank you. and major averages lower second straight day. dow down 575 point s s&p 1.4% that does it for the street. "techcheck" starts right now. happy tuesday. welcome to "techcheck. i'm jon fortt along with carl quintanilla and deirdre bosa how to position your portfolio to take cover today or take advantage. next then, is it cathie wood, we'll consider and the battleground stock is facebook bull and bear case for the

company later this hour. carl >> jon, speaking of stocks plenty of tension. nasdaq off the most recent high. more than half of the ndx down 10% from the recent high tesla worst performer and then apple down over 20% at the dow pr briefly, jon, falling 670 points. >> carl, where we start this morning. as the tech sell-off gets even worse, guys, momentum speculative names, getting crushed today, cathie wood, ark fund, 40% off its recent high. large stocks not immune either this morning we mentioned apple, but all five of the largest names in tech down in today's session. software hit hard as the cloud ships on pace for their second straight day of major losses, and, guys, it's not just the

deferralens between broader tech and the markets, but the plays within tech itself here is the year-to-date performance of ark versus the s&p 500 in the nasdaq 00, although the s&p justify turned negative for the year. guys, this graphic you're seeing on the screen now is a good illustration of those nuances within tech. ark reports represents some of the highest flying momentum stocks over the last year. including some mega cap. and goldman sachs said they deserve their multiples, but analysts hosting say antitrust investigation, the greatest threat not sure i've sign it laid out clearly or forcefully on wall street yet another thing perhaps those mega caps have to contend with this year. >> i think it's true, but, guys, a big difference between tech overall, and look at apple,

microsoft, amazon. they're right now, a lot of red on the screen trading higher than beginning of the month. that's in contrast what we're seeing with a lot of these growth stocks. yes, there are issues of antitrust, but how long is it going to take that to play out it's going to take a really long time, carl in a way of antitrust, the biggest worry. that might be bullish for some of these large names >> yeah. i think goldman would certainly argue the bigger threat is actually capital gains reform, tax reform, corporate tax reform more on that later we'll get to all of this with our first guest this hour. just downgraded tech to neutral recently this morning says the tech stocks could decline an additional 7%. take you down tho that 200 level always a treat to see you again, tom. >> yeah. great to see you, carl, and crew. >> you've been pretty stubborn and resolute about sticking with what you call epicenter names,

cyclical names exposed to the recovery what makes you think there's more down side on the tech side? >> carl, i think that there have been five headwinds for tech really are coming to a head. in fact, i think stan druckenmiller really spoke to it overarching problem with tech starting this year is it's a crowded and stale long people piled into these names last year, because of the collapse of the economy and the pandemic now we have potential inflation building interest rates going up. you know, the white house did go after technology the economy, not everyone believes it, but looks like we're set for this by june and capital gains could go up. five of five of these is bad for the technology and growth area especially capital gains more than 70% or 80% capital gains just in the sector the other hand, epicenter trade

wins on five of five of these. if only one or two of these eclipse, in fact, happens, epicenter stocks keep rallying, and tech weakens the move to the 200 day is probably the most reasonable thing to say, take a look to see if this bargains yes. 7% to the outside. >> right a step further, tom, and you talk about, citing a team if you get back to the level could look at a crash-up into cyclicals the thinking is what a new team of people who want, who say i want in on that? >> yes i mean, from -- in our conversations with institutional investors, they built their entire careers for the past ten years, even 12 or 15 years, buying growth stock and earnings feeds and survived ignoring cyclical stocks. in fact, that's the reason they kept their jobs.

but the environment in 2021 is so different d di diometric opposite of the last years. apple is bigger. i got to get apple and i don't care about energy, but for the first time maybe since we've been recommending epicenter, last week we got finally investors to look at the cyclicals. it's, the door finally opened. we're probably in stage zero out of stage 30. >> so, tom, there's more down side for tech, and you want to sort of get in on it as an opportunity. what areas are you looking at? we made a distinction between mega cap and cloud stock and other momentous names over the last year. what would you look at >> yeah. i think in tech, i guess you're asking about tech here and what we said is -- >> yes. >> -- tech is 40% of the s&p

we would want to own half. 20% weighting in tech, and you still want some exposure there's real shortages in semiconductors and the supply chain. we know that's why there's real commodity inflation. semicap equipment, because moving supply chain to america i think any company that can actually ease inflationary pressures, that's a lot of technology companies, are actually going to capture a lot of value i think anybody who works on the supply chain or helps contain inflationary costs will be the safe place in tech we identify three or four industries that look decent in tech to me, the layout. those are battleground -- that's a battleground sector as one of our clients in connecticut says. i'd rather be buying energy here, because, you know, oil is already making a decisive move and energy has a huge catch-up to that especially things like oil field services, which is the way. >> and tom, talking about what

is safe in tech. let's talk a little more about what might be smart in tech. if you're looking to take on some risk. some of the volatility we've seen, yeah, crazy, but was it really that hard to see coming talking to another tom, tom siebold, billionaire, co-founder ceo of c3.ai just a couple weeks ago about this volatility seen after his ipo. here's what he said. >> shot up like a skyrocket. i can't explain why that happened i think at one point trading, you know, like 100 times ebitda. you and i, jon, know they don't trade this way in a sustained rate seeing air let out of the stock since then, and, but still trading, i think, 70% higher than when we, than where we priced it. >> and he said that some of the air coming out for the overall market is a good thing

what do you have to believe, though, about the growth stocks in tech with trends like ai to buy them around here >> well, i think for anyone who's patient, tech's a bargain here right? it's already off its highs these companies are going to grow double digits i don't think tech's growth rate slows at all in the next few years. it's just risk premium that collapsed making them expensive. our long-term view, tech at least 50% of the s&p, if not more i mean, the u.s. stock market essentially becoming a tech indexes. i don't think it's changed, and i think will be true five years from now and labor shortage means technology companies capture more value how else do you replace labor? the challenge is really finding something that's not crowded, and not picked over, but can positively surprise. i think that's the challenge now with, like, the cloud names and a lot of work from home. i think semiconductor and

semicap equipment can still positively surprise, because end of the day, if you're moving the supply chain to america, that's a huge amount of investment. you know, it's actually really an opportunity for the u.s. to create innovation. i think you'll see a lot of cool things come out of tech still. especially like autonomous driving agency well. >> tom, you've done a lot of research ever since beginning the covid on the progression of the pandemic itself. i guess the question for me would be -- to what degree are you building in a block swan? where can i be wrong, a scenario some variant resistant to the vaccines we have obviously sending a lot of money flowing back into the names that these stay-alongs, as stan said, money now seeping out? >> right on, carl. covid, anything could be super tenacious and unpredictable. i mean, in our daily commentary we're terrified to actually make forecasts. where can they take place? it's a virus that's mutating and

as it spreads keeps mutating and we're seeing that super surge take place in india. i would agree. i don't think it's a forgone conclusion covid is retreat globally if india, you know -- if the search lasts and causes the economy to shut down, you know, that sends a wave of panic across the global economy. >> yep and we're hoping that something, we can avoid maybe past it, but certainly the ex u.s. trends are still troubling. an interesting day to have you and we rely heavily on your work good to see you. >> thanks for having me. well, carl, today's most interesting chart. that has got to be palantir. well in the green after a 10% drop pre-market. perhaps because it is the number one mentioned stock on reddit and wall street bets pes thorng. earnings a beat and saw net losses double. maybe it's the cfo david glazer

saying palantir considering adding bid coin to its balance sheet. that said, palantir shares fallen almost 40% over the last three months remarkable reversal perhaps tells you that not everything has to be based on the fundamentals here. there is, could be, still room for momentum stocks. >> yep down 6% in the pre-market and up 6% during the day trade. guys, when we come back, top picks. top value plays and how you take advantage of a sell-off like today's. we're just getting started on "techcheck."

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dow down 600 points and with us a gut check on road blocks going the other way. the company reporting a first

results since going public seeing a 161% increase in quarterly bookings boosted by pandemic trends. revenue growth over 140% so if you're looking for something that is working today that would be roadblock. shares up more than 10% right now, jon. >> yeah. giving palantir a run for its money on that interesting chart front. cloud stocks overall losing air over the past month with high-flying tech names like snowflake, trillio and others down double digits service another name down 15% since april under pressure today. step back look at a two or five-year chart, steadier march higher for service where do the names go from here? we start with our next guest bill mcdermott, service now ceo. good to see you. you laid out a plan for $10 billion in revenue in three years. now say $15 billion in five. ambitious. should be encouraging to

investors involving expanding your total adjustable market how? >> well, jon, first of all, we're one of the few companies in the world that are operating on the rule of 60-plus you know they say when you have 20% revenue growth and 20% free cash flow you're doing great. we're operating at 60-plus and yesterday laid out a bold plan the real issue here is, how big is this addressable market digital transformation in the next three years will be an 8 trillion market. our space is 175 billion we're going to market in a way that really helps our customers transform their business our customers will need to get 20% of their revenues in the next three years from businesses that are not even in today business model innovation. the move to the multicloud innovation end of the enterprise modernizing your applications. building low code applications to satisfy new customer and

employee demands we are the control tower for digital transformation and we laid out a plan to do this in industries and geographies and we did this on an organic basis jon, i want to make this clear -- service now is the first company that ever became a 5 billion cloud company organically. service the first to be a $10 billion organic cloud company and service out in the first company in the world to ever be as $15 billion-plus cloud company in the world, ever and that is our story. >> so when you say organically, does that suggest you're not doing m & a or m & a will be gravy on top of that >> exactly gravy on top of that, jon. reality is, we don't need large-scale m & a. that's why we haven't done it yet. why, you say, why is this? why do all the other ones need it and not servicenow?

we're a platform company, jon. we go to market and we specialize in industries so today we focused on manufacturing and health care. we're kicking off our knowledge 21 event i'm opening up with a keynote to 50,000 people glowly in 130 countries which i get off this interview and we integrate all of these disparate systems silos and glue together people to get work in teams and call it a system of action. >> bill, give us some more kind of granular management detail here of course, you've been at s.a.p., in the tech and leadership business a long time. a lot of investors want to give a bunch of companies the multiple as if they're platform companies and historically a lot of companies don't tend to actually become platform companies. so how is it you're able to do it at servicenow as you have with r & d discipline allowing you to achieve the bankmarks you mentioned and others won't

>> that's the right question jon, today you see a rotation in tech a niche tech which was highly valued and probably benefited somewhat from covid and other things, it's rotated down heavily. when i compare servicenow to our peer group, i'm comparing it to salesforce oracle s.a.p. workday. and if you look at us on a ten-year chart, we grew faster than any of them with a better margin profile than any of the cloud companies, and a better free cash flow profile than any of the cloud companies by far. why is it? because we are truly a platform that spans the entire enterprise think about modernizing i.t., giving your employees a great experience, or re-inventing customer service in a direct-to-consumer world or building new applications so business people and engineers can come together to change the

game in days and weeks, not months and years you're thinking servicenow so this is a true enterprise software company and there's not a lot of them around. >> yeah. >> if you look at most of the brands today, very departmental, and, jon, these islands of innovation are killing companies. they want a platform where they can glue all of this complexity together and run a great business. >> yeah, well, the tide is going out in the markets, at least over the past couple weeks we'll see what everybody's wearing. bill mcdermott, thank you. >> thank you very much, jon. we're keeping our eye on cathie in the meantime pap bit of a flow up 1%. and a new low for the year down about 40% off its most recent high. get a breakdown of the biggest underperformers in that fund when "techcheck" comes back in three minutes.

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a gut check on shopify taking it to a buy this morning. maintaining $1,400 price target. heavy topline growth in margin expansion, chief catalyst behind the upgrade, benefiting from secular shifts to ecommerce. shares turned positive, neg ativ year to date carl >> and a six-month lower, a bit of reversal. get to dom chu. >> a massive move off lows of the session seen so far for ark innovation etf not just the tech innovation etf also catching a bid. shopify with jon fortt there other with the ark ecosystem, moving in 30 territory highlight three. the three biggest active etf ark

manages. arkk genomic revolution, and the arkw, next generation internet etf. from the highs you see here earlier this year, each of these etfs lost roughly one-third of value in the course of the last several months here. seeing a similar move across all etfs each of these positive on the day indicating perhaps there is a bit of a buy to dip mentality for some of these stocks overall the other parts of the ecosystem we're watching holdings within these particular etfs specifically tech innovation names we know from a momentum standpoint tesla, teledoc, roku and square, these etfs here make up a large chunk, roughly 27% of the overall tech innovation portfolio. we put together a one-year chart so you could see

they're up, teledoc the standout an a massive move over, over the last couple of months. teledoc lower on the year. keep an eye on those four stocks critical to the fate of think space. and momentum standpoint, spac market so hot over the last six or so months a number of these names are in spac land. virgin galactic, open, clover health, ipo, in the process of sofi merger now. you see here well off session highs, rather the year's high as well here. keep an eye on these momentum parts of the market. overall, deirdre, huge move lower. a proxy for the overall move, jon, something to keep an eye on. >> when i think about these names, i think about belief in taking on high levels of risk even in this market. when we see the kind of volatility we have, i wonder how shaky that platform is i mean, especially given that

cathie woods sold out of apple in these funds right? i mean, how much is the risky getting riskier? >> interesting point you bring up especially actively managed etfs comes down to whether the etfs in times of market stress or certain conditions of volatility actually track the underlying assets traders and investors look towards discounter premium the simple way to look at that is, intraday trading of these portfolios sometimes the price of the actual etf is diverge completely sometimes very markedly so from the actual value of the underlying assets. it could happen in a situation where certain funds are liquidating certain assets, liquidity profile kind of are a huge variable there. what i will say is, as of yesterday's close, we were looking at the discount or premium to be overall portfolio this etf was trading at, arkk.

tech innovation etf. despite the fact you're seeing l liquid aatio liquidations, trading very, very light discount to overall portfolio value. key to watch in coming days if more volatility. underlying assets can trade at a certain value. etf could be significantly higher or lower. a trend to watch and interesting question for sure. >> right, dom. one that we'll certainly watch jon, talking about this earlier. the idea of cathie woods versus the face of the tech upswing and then the downswing virgin galactic, shares recovered a little, but still down 5.5%. the question, where are retail investors in all this? over the last year came in the market a big way and have a big appetite for risk. does that become a little bit tempered as we see this sell-off in tech? a lot of names that they were

really big into over the last year >> yeah, d the people i work with ask for stock advice i don't give stock advice. the trick, not only know what to buy, know when to buy and when to sell. a lot of people forget about that last part, carl. >> all right well said, jon. a news update from the rahel solomon. >> good morning. what's happening at this hour o investors druckenmiller said the federal reserve continued moves, interest rates low big steps by congress not needed because the economy is strong and growing government debt, he warns, poses a long-term threat. >> there is no way we can afford to have 30% of all government outlays be towards interest expense. what will happen is the fed will have to monetize that. when they monetize it, i believe it will have horrible

implications for the dollar and why i said in that speech, yes, i think it's more likely than not that in 15 years we lose reserve currently status. >> and after biz 4, victoria's secret lower than expected l brands is keeping, however, bath & body works. first time in its history, "washington post" put a woman in charge of the newsroom leading the associated press running news operations since 2017 to become the executive eder's you're up to date deirdre, back to you. >> rahel, thank you. this morning's battleground stock is facebook. the bear and the bull case is up next so stay with us. "techcheck" is back in less than three minutes.

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welcome back to "techcheck." i'm carl quintanilla along with jon fortt and deirdre bosa dow down, better than 670 from earlier today. apple off more than a percent.

palantir's reversal continuing up 7% now. intraday of the nasdaq, on display. down as much as 2.2% and currently down less than 0.4, jon. >> yeah. facebook flat after a drop yesterday. part pressure, 44 state attorneys general who want facebook to scrap the plan for instagram kids what's that about? >> well, jon, a lot of pressure on social stocks over the past couple of days you mentioned losses yet facebook down fractionally but all about 5% for the week under pressure on two analysts warnings first citi down grading facebook from alphabet neutral. advertising too bullish and goldman sachs warned facebook along with others face higher tax rates as well as regulation. speaking of regulation, you mentioned, jon facebook under attack for a

feature it hasn't even launched yet. instagram for kids 44 states attorneys general calling to drop that plan for that service warning about mental health concerns and maybe the app wouldn't comply with privacy laws facebook countering kids are already online, already using instagram saying "we want to improve the situation delivering experiences that will give parents visibility and control," saying they're working with experts and will work with regulators thinks facebook should heed these attorney generals advice seems facebook is pretty determined to move forward with that >> alphabet gets to do youtube kids i don't see the attorneys general coming after them. do we really want government lawyers telling tech companies what they can and can't build? >> well, look. whmp you get into the question

of kids, jon, always complicated. there are federal privacy law, and, look. youtube has been criticized for the youtube kids app not being sufficiently sequestered from traditional youtube and the fact kids are still using regular youtube. not just youtube kids. >> and so when we look at the pressure that facebook has been under and how it has, perhaps, maintained its strategy throughout this, do we seethem wavering at all, or are they pretty steady as it goes >> strategy in terms of kids i think facebook -- >> overall. >> -- oh, overall? facebook a messenger for kids and i think once they start developing something they like to see it out. they do a lot of experimentation and not everything comes to fruition but have a sense wanting to develop new things and not stagnating with the same services. >> julia, all right. we'll see who's in charge there.

julia, thanks. carl >> thanks, jon. meantime, mike santolid jois us from facebook and in light of recent downgrades, mike, and what you call i think battleground territory now for fb >> carl, yeah. for all the reasons and all of those swing factors julia detailed, the pressure points, there's room for both sites. investors and analysts, to debate those things as and on a valuation, it's a value sense stiv to buyers a chart of the forward price earnings ratios for facebook and s&p 5 hp for comparisons since facebook's ipo by the way, one week from today, the ninth anniversary of that ipo. traded a massive premium back in the early part of 2010 you see here is, the pe of facebook and in the s&p 500, no premium. looks cheaper.

earnings too low in the out years, looks that much cheaper you see also alphabet actually waxed and waned relative to facebook, has a little premium there. i do think it adds a little wrinkle here not about how much more should i pay up for the high-quality guess in huge margins of facebook but how risk is already priced in for the factors that might change long-term sentiment about quality of its competitive advantage. guys >> and it's just not the kind of -- >> bringing that to us -- go ahead, carl. >> mike, just going to say it's not what you'd can expect when revenue run rates at three-year highs right? seeing acceleration, not deceleration citi's point, deceleration will come, not until q3 or q 2 of next year? >> exactly tremendous contrast between numbers put up by facebook and argue amazon trying to catch a

buying interest today, and where the stocks are trading and really the mood around them. it's kind of like as good as it gets moment, but, yeah nothing that really in the numbers tells you facebook should be revalued in a radical way. that's why there's a big debate. >> right and very perspective thank you for that. speaking of facebook, goldman sachs says more threats ahead for the dominant tech stock. find out what they are, and stay with us, we are back in just two minutes. undred. you deserve to work with a team as invested in your future as you are. learn more at massmutual.com do you have a life insurance policy you no longer need? now you can sell your policy, even a term policy, for an immediate cash payment. call coventry direct to learn more. we thought

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watching oppenheimer saying outperform of $434 well positioned to benefit from accelerated adoption of crypto calming it attractive entry point for investors. stock down this morning 1 1/3%, jon. >> and the group behind the ransom ware says aim is cash meeting with president putin over the cyber attack among other things eamon, if i was a hacker group secretly working in cooperation with a nation state, exactly what i would say don't try to make me political i'm just after the money.

>> right just a mild mantlermantlered -- man mannered criminal. what are they lying about and why are they lying we don't have any idea a flag for you, jon, getting a revealing look behind the scenes what happened as the u.s. government tried to respond to this and some of the communications that happened between the government entities and colonial pipeline. up on capitol hill right now a hearing is going on focused on this question of whether cisa, the nation's top cybersecurity agency, was brought in early enough and whether they have enough information now to respond to what happened to colonial pipeline. senator rob portman asking acting said of cisa questions when they were brought in and exactly what information they have now take a listen. >> would it have been helpful if colonia cacced you immediately

to respond for effectively >> we received information fairly quickly in concert with the fbi. i think right now we are waiting for additional technical information exactly what happened at colonial to use that information to potentially protect other potential victims down the road. >> so, brandon wales, doesn't have the technical information to respond to the colonial pipeline hack and prevent infrastructure attacks to other major american infrastructure players. seems significant. he downplays a little saying early in the process had a good relationship with colonial in the past not to worry he has expectation they will get this information this attack happened last week and we sit here suss, head of cisa saying he doesn't yet have the technical information to respond to this. interesting look how the information flow is happening behind the scenes, jon.

>> is this sort of what makes the case for a cyber coast guard? the idea that the shores of america's digital assets perhaps ought to be more federally protected as opposed to by private interest >> look, a lot of questions about that what's the right rule for the prithe -- role for the government and for private security best hackers at the nsa, cracking whatever happens overseas, spy versus spy-wise in foreign countries. should they be involved? laws that prevent that best in the world, maybe you want them on the beat, so to speak as cops. a lot of different debates about all of these different agencies. what's happening now, clearly, not working. explosion of ransom ware is unchecked now by the federal government and by the cybersecurity firms in the private sector something needs to change. not exactly clear what that solution will end up being, though, jon. >> yeah. meanwhile, eamon, focus clearly

on getting fuel supplies to the carolinas and the mid-atlantic thanks, eamon javers this morning on colonial. tesla among the biggest laggards earlier today currently down only about 2.5% it is now the attractive entry point for your portfolio talking about good value plays in the volatile ev sector when "techcheck" tus.rern at t-mobile, we're on our way to hiring 10,000 veterans and military spouses by 2023. and our commitment doesn't stop there. we always offer 50% off family lines on our military and veteran plans.

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time for a gut check to outperform, target 116. saying the sell to covid winners bears have shaken out at this point. strong performance from "call t. also, a catalyst for opportunity. dee. >> yep lucid motors going public via the spac, churchill capital iv that stock is up 80% since going public since announcing the spac merger on february 22nd, the stock has fallen more than 60% this year the company projects to produce 6,000 to 7,000 vehicles and record over $1 billion in losses. if you want another comp, look at unprofitable ev company quantity tumscape. last night, was down 10% in the premarket but has climbed into the green. peter rollins is the ceo of lucid motors and former tesla engineer peter, thank you for being back

with us. we just talked about squa quantumscape lucid is selling a concept in spots like "saturday night live" ad over the weekend. give our audience an update on production and supply chain and whether you are still on track to hit the target you laid out previously, more than 20,000 vehicles in 2022 and 10 billion in revenue in '24. >> well, we're on track to put lucid air, the car behind me, into production in the second half of this year. we are really making great progress here on three fronts. the factory is ready and up and ready. the car is getting higher quality, getting closer to start of production on a daily basis we are rolling out our sales and service network. we have six stores open across the country with four more to come in the very near future so very much on track for

start-of-production of what i hope will be an outstanding pro duct in product in the second half of this year. >> right, start of production, but are you on track for 20,000 vehicles in 2022 >> we are very much on track for our plan we are aiming for over 577 vehicles this year and a significant increase throughout next year as we grow the business >> okay. but you won't repeat that 20,000 number, i'm noticing, peter. are there some hesitations around that? is there any reason to think you might not be able to hit that number you laid out? >> i'm very optimistic about our future potential for manufacture. we are starting production this year in the second half, predicting 577 vehicles this year and significant growth next year >> okay. peter, i wonder if you could

talk a little bit about your incentives elon musk famously does not take a salary but has an incentive-base structure that is tied to financial milestones can you give us any color on your equity in lucid, your salary, especially after giving out majority ownership to the saudi sovereign wealth fund a few years ago? >> i'm only a nonstock options, that's what motivates and drives me that's really my view of the potential future of this company. so that's what i'm really working for primarily, stock options, and my current stock options in the company >> i just wonder, peter, why go public now preproduction rather than raise more money in private markets? as i mentioned, you were quite successful in doing so from the saudis do retail investors give electric vehicle companies better valuations in terms >> well, i think we were in a

very good position, because unlike so many of the startups, lucid was in a strong financial position where we could choose, we could choose our route to going public through either a traditional ipo or through the spac process we felt that the spac process was a very useful tool for us to secure a great amount of funding. we've secured $4.4 billion through the spac and the pipe, and that collectively secures our future it takes us well past the start of production of lucid air, the car behind me, and it takes us into 2023, close to when we will be putting a second product into production, the gravity. >> peter, thank you for joining us we will continue to track the company and look forward to seeing the vehicle in production peter rawlinson, lucid ceo

jon. a lot of people think bitcoin is the to get. for mark zuckerberg, just one of the goats. either hits another all-time high we will close out "techcheck" after one gquick break. that's mark zuckerberg's bitcoin to get get decision tech from fidelity. [ cellphone vibrates ] o.you'a. get decision tech t.nts before they happen... and insights on every buy and sell decision. with zero-commission online u.s. stock and etf trades. for smarter trading decisions, get decision tech from fidelity.

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a couple of billionaires embracing crypto culture the first you might expect, elon musk asking twitter this morning if they want tesla to accept dogecoin when buying acar. some thought musk's "snl" appearance would lead to a spike. mark zuckerberg posting a picture last night showing off his goats, saying they're name max and bitcoin. many reading it as endorsement from the facebook founder and ceo -- raising my eyebrows at that finally, we can't take our guys off either, guys, closing above 4,000, this morning slightly off the high, but still gaining over 15% on the week. as always, carl, lots going on

here i will slide by that zuckerberg to get name, i think he did it for attention. >> i can't imagine why he would do that. jon, you got musk on "snl", zuk with his to get, tom brady with laser eyes, everyone wants a piece. >> it can mean a lot of things there's hero or to get, you might be insulting bitcoin or it might be livestock as a means of trade how ironic is that you know, bitcoin but a togoat he might be going ancient on us. i want to come back to palantir as well quickly, back to stocks. up over 7% right now, on pace to snap a ten-day losing streak, its longest losing streak since it went public if you remember, that stock down 15% in the last two weeks, about 40% since the start of the year, carl >> yeah, revenue guidance wasn't that bad out of palantir as well

a quick check on our work-from-anywhere basket, guys, going positive in the session, after a drop at the open names like fastly, ring central, twilio, all driving the upswing. tonight we will get some ea, some lemonade, some quantumscape as this final bit of earning season continues let's get to "the half." welcome to ""the halftime report." i'm brian sullivan in for scott wapner what a day it is to be here because it is a sell-off on the street tech trounced again. sellers, they're heading for the exit, at least on some of the big tech names that you know your big money stat of the day, more than half of the stocks in the nasdaq 100 are down 10% or more on their 52-week highs. has the momentum finally broken long-term on the tech trade? we will debate that and more with your big-time investment committee today. joining us