i realize another hot inflation report this morning, specifically on the producer side of are things. >> not not unexpectedly so really that's key. >> mike santelli thank you. that does it for us here on "squawk on the street. "techcheck" starts right now. ♪ happy thursday welcome to "techcheck. i'm jon fortt with carl quintanilla and deirdre bosa ahead, elon musk slashes and does it ride on one man's comment. and look for safety and opportunity in today's session. finally, whitney wolfe herd, bumble co-founder and ceo joins us later in the hour carl >> as you said, stocks reb

rebounding in a somewhat volatile session large cap tech stocks in the green. ininvestors finding reasons to buy the dip. three big gainers on the qqq today on the screen. watch all of that. >> we will, but have to start, carl, with bitcoin and speculative tech trade we've been discussing. a split between bit cap, and call them cathie wood stocks peloton, high growth cloud names recent ipos and spacs seeing valuations plummet bitcoin up more than 30% year to day. ark's main fund down 17% but today this is all inverting. bitcoin actually crashing while peloton -- peloton is, right, best performer in the nasdaq corps culprit, elon mask.

will stop accepting bitcoin as a currency and falling overnight a note to investors, if one person can dra mmatically alter spending power other things not met. maybe that's overstating it. i remember when tesla bought bitcoin, started accepting it. a mainstream moment to see other corporations follow. yes, seen more institutions but not companies buy in in a huge way. perhaps his backtracking isn't the big moment that it is feeling like it is today, and perhaps this is just something that happens when you have a transformative technology. two steps forward, one back. or two forward, one back >> you know, forgive me for being a sunday school nerd here. reminds me, elon and crypto, the moses and the amalekite. raises hands for dos dogecoin,

hustle, then goes down tesla up, buys not into it anymore, goes down raises questions about this. about the environmental impact interesting piece in harvard business review last week by nick carter. vc not the back street boy, that dives into this. we can get to that later in the show his reasoning might not hold up, carl. >> interesting in terms of the institutional acceptance, de, you're pointing to pointing out, mark cuban, continuing to accept bitcoin, ethereum, doge, we know replacing gold as a store value will help the environment. a circular argument some are making that the emissions you're doing by mining end up as a net neutral in the long run, but, again, putting all kinds of communities at crypto at odds

with one another, de. >> yeah. of course, cuban and other bulls coming out defending bitcoin and cryptocurrencies the ones on the fence, in the middle, thinking about adding bitcoin to their reserves. what does it do for them maybe nothing ultimately don't want to overstate this same time, elon musk, carl, the most vocal certainly playing out in the crypto markets, not just bitcoin today. >> yeah. meantime, apple is helping the markets. up see the dow up 500 this morning, after closing below the 200-day first time in more than a year paul hickie, founder of the investment group and actually one. first to point out that h historical marker. welcome back good to see you. >> good to see you, too, carl. >> so you had a great table looking at what happens when apple falls below the 200 day for the first time in a year or more fair to say, i guess, forward returns are mixed historically >> yes so you, i mean, apple over its

200-day moving average more than a year not the longest streak by any stretch in the stock's history but one of the longest only two other ties for that long a period in the 200 day looking forward, short-term returns in the stock mixed over the next week and month, but over the next three months, actually, stock was higher every single time. so in the short to intermediate term you may see a little weakness i think this is an area if we were to see much more weakness in apple at these levels or below here, we add a position in the stocks. >> yeah. i mean, the action at apple is obviously hugely significant, but i wonder the blanket that is faang and the huge percentage it makes up of the s&p is almost disguising the incredible amount of pain we've seen in nonprofitable

tech stanley druckenmiller called them stay alongs how do you perceive overall sentiment? pain the indices don't reflect at the headline? >> you hit the nail on the head, carl we can't address what's going on in the tech sector without looking at the elephant in the room that's inflation and higher interest rates what we have seen is that tech -- i mean, they had a horrible week this week. tech underperforming the s&p 500 since september 1st when it peaked not surprisingly, that coincides within a month of the low close and the ten-year yield interest rates have risen, tech is hurt. highly valued or lower earning stocks much more than mega cap stocks but it hurt the overall sector really interesting to know, though, is that the tech sector, unlike prior periods in the past, whenever we talk about

tech at lofty levels back to 2000 and say, oh, my god here we go again the thing is, the tech sector has relatively -- only slightly higher than the broader market right now and trades at about 30 times trailing earnings with the s&p for 29 times earning if you see interest rates hurting the overall market, tech is not necessarily getting hurt more than the broader market and should perform in line a very big if. we're at low interest rates. >> makes apple particularly interesting to me. it's the techiest of the big techs. right? that big cash forward. it's got the biggest luxury product in iphone on the planet. it's got arguably the strongest ecosystem in tech when you consider the profitability of that ecosystem one could argue that right now from a product perspective, it's one of the strongest advantages it has in a decade with the m1 home-grown chip working.

iphone managed to expand and remain strong and protect margins, and you've had stable leadership, despite over the past decade, steve jobs not there. johnny aye stepping away angela urnsernst no longer runn retail look at this for the market here ripe because of all of that strength >> yeah. look at the strength apple, consider it the biggest tech stock in the growth stock most fame investors in history is its largest holding that gets to the valuation of the stock. of the five mega cap stocks only amazon trades in an above market multiple and we've seen in amazon last three quarters is they seem to be able to turn on the earnings faucet however high they want lately who knows what they really want to do, maximize earnings over investment what they will look like the mega cap x stocks provide interesting opportunity and i

think a level of safety and cushion for the overall tech sector. >> where do you stand on regulatory threats goldman raising it as a fundamental threat, some of the big cap names just this past week then you have amazon with that victory on that tax charge in europe what should investors look at right now in terms of that still brushing it off, or is it becoming more of a threat? >> yeah. deidre, great point. you never -- anytime you brush anything off, that's where it become as problem. regulatory risk is a threat for some of these big cap tech stocks, but the regulators are going to come in, and, you know, hamper or try and, you know, break up or -- or hurt the united states' largest companies and big et assets. i think it would be shooting ourselves in the foot. i think there's going to be a lot of rhetoric over regulatory risk but i think the bark worse

than the bite. >> paul, finally, only because it relates to tech to such a large degree, where is the spoke's head on the bottom x, base effects and the outright inflation we're having to wrestle with this week >> yeah. so i mean, inflation is obviously going to play a large part on what happened with the tech sector here, and i think a lot of it is, even though scary as the headline in cpi were, a lot is the boltsttle necks there's low job creation, same time record job openings a big mismatch employers have crazy manned, can't fill positions to meet demand and the other side consumers more money in their pockets than they've had in decades and in some cases more time on their hands because they're not going to work. whether it's because they can't go to work because of issues at home, safety reasons, oh they don't need to go to work because of stimulus.

once those, that's a temporary effect once the stimulus wears off, you saw the teachers unions talking about returning schools to full capacity in september. once the fall comes around, i think you're going to see some of these pressures really start to ease off a little bit whereas, these high levels of inflation will start to subside a bit. >> all right paul, thank you. >> thank you. bumble ceo whitney wolfe herd and tech stocks to watch for safety a big hour of "techcheck" is continuing, next. >> announcer: "techcheck" is >> announcer: "techcheck" is sponsored by -- .

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i've been looking for for a while. the nasdaq rebounding today, but turmoil in tech. the last few days, making it difficult to find safe plays amid the volatility. josh lipton has more on the tech stocks that you can hide out in. right, josh? >> reporter: so, deirdre, start with the clou, the etf that tracks those that you're talking about so much.

and ninth day of losses in the last 11 sessions now down nearly 20% from its all-time high that it hit back in february. s smbc says cloud names under pressure and earnings reports actually have been good, he says, but expectations have also been high having said that, still a fan of foundational for the enterprise and describes reasonable valuations like salesforce and likes underfollowed names that are important, next generation vendors like minecast, focusing on email security. another area to watch. semis. higher now but on pace for its worse week since march of 2020 bernstein says after stretch and remarkable runs and during earnings season a lot of talk about continued shortages and supply constraints company that makes the

equipment, manufactured chips such as supplied materials and look at the hero etf tracking video game industry trying to avoid its 11th day of losses in the last 13 sessions earnings reports, we know, generally strong for this sector, but zynga take two, activision, underperforming the market the past 12 months. and from jefferies countered these will keep grows ons backs of others and andrew's top picks, zynga activision and ea back to you. >> thanks, josh. a good segue, talking gaming applovin reporting its first results as a public company following the stretch as an ipo. tough on the stock like a lot of recent ipos that said, a lot on the street

and joining us, founder and ceo. adam, good to see you. so revenue eps doubled year over year you said on the call a lot of that over the past couple quarters was attributable to acts on your machine learning. raised the question for me in six months meaning comps get tough or momentum to go for some time >> we're super excited about our growth put it in place six months ago these types of softwares improve themselves over time, as we continue to grow our first-party data from the games we built also bring more clients on to the platform there's a huge opportunity that we see to enable us to grow for years to come. we posted the shareholder letter on the website, too, i urge investors to read enumerating these opportunities as well and we're it skewed what lies ahead are us. >> and talking unity's john

richard yesterday and about the impact on companies that operate on their platform around whether they have access to data is your position affected at all by apple's sort of closing down some of that third-party data access is it perhaps strengthened by the fact you have your own network you're trying to grow out with first-party data? >> look, ios rolled ed out 13.5, changing the rules over 10% on there. we've already addressed the impact and assessed it and not seeing impact in the business and seeing big opportunity there because we have this first-party data advantage 200 million people playing our games every single month giving our software data advantage. misconception about what consumers are willing to share and not. a lot ours, 30% to 40% sharing information. a much bigger number than has been reported.

>> adam, good morning. it's deirdre i know applovin games a quick on the go mobile purpose first, but i wonder if you're thinking about the metaverse and how your games might eventually integrate or benefit from the shift a lot of folks think will come fast? >> the metaverse shift happened. right? covid accelerated it those types of games are alternative realities, worlds people get immersed in but take many hours to engage with. ours are on the go haven't seen increase of usage over the covid area. as we look forward, we're excited about the world becoming more excited about gaming. and we think as people go back to normal life, they will engage even more with the type of games that we power. >> right your game doss have a social 0

ele element. are you thinking ahead, something that will work in the meta metaverse, your own metaverse? >> we want the whole world to be able to play our games and not spend hours on end doing so. wordscapes, project makeover are tailored to people on the go, who want to play 35, 40 minutes a day. we're building some of those characteristics into the game. project makeover has an avatar system so people can build themselves into the game but they're constructed to play hours on end. >> adam, what do you see as economies begin to open up locally in demand for advertising? what's happening to rates based on inventory are there businesses that really are trying to attract people back and is that affecting the revenue in your ecosystem? >> our software platform reviewed 90% in q1

accelerating and seeing quite a lot of growth. our business is constructed differently. everything we do is performance based. we work with the app developers to help them grow. what we're seeing, as mobile devices improve, content is getting better, enables developers to give better experiences too the consumer and effectively spend more on marketing, a trend we've seen over the last decades and's it continues to accelerate. >> well, we'll continue to watch your stock and your performance at ad lovin' thanks for joining us. >> thank you. other side of this break, stick around, bumbleal ceo whitney wolfe herd guidance in line, but down from more than $100 a share on ipo day back in january. "techcheck" is back in three minutes.trade,

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welcome back to "techcheck." i'm joe kernen alongside jon fortt, deirdre bosa and julia boorstin tech leading after three days of heavy losses dow and s&p still on track for the worst week since january nasdaq since february, although the dow has gone green for the month and session high was up 553. let's get a news update. morgan brennan has that for us. >> long time no see, carl. operators of the colonial pipeline saying they've made substantial progress restarting the system shut down by a ran sm ware cyber attack. they say in the next few years all pipeline areas will get some fuel wall street debates whether inflation is a threat, large increase in wholesale prices the price producer index up

double consensus forecasts. new claims for unemployment, meantime, fell last week to 473,000. a new pandemic low it comes as some states and republican governors moving to consult off extra benefits saying they discouraging from taking jobs. and amazon hiring workers averaging starting pay over $17 an hour. up from its usual $15. in some places paying out signing bonuses and vaccinated get an extra $100. incredible hearing the news given amazon hired more than half a million workers just last year alone. >> good supply and demand in the market, looks like, morgan thank you. back to bitcoin for a bit. the focus is on energy use dominated headlines this morning, because elon musk said tesla, backing away from

accepting bitcoin as payment because of energy use. deirdre, this is odd to me not sure this arguments hold up for this reason -- there's a great piece in harvard business review, as i mentioned. just last week it turns out you can put bitcoin mines in locations where power is greener, and that's increasingly being done. places like southwest china, where a lot of the hydro wouldn't otherwise be used it's isolated, but you can actually put bitcoin mines there, and this reminds me, in a way, of what we see happening with platinum. you could argue the cloud era increased demand for data, datacenters. they're energy hogs that cloud and mobile is bad for the environment. yet we've seen with mega scale providers they're also able to place datacenters in more ene energy-efficient locations and datacenters don't require as much energy to power

amazon, google you know, microsoft, they have the money to invest in these technologies, to actually improve the efficiency of datacenters. maybe the same of bitcoin mining, deirdre. so i'm not sure this argument from elon musk is actually going to hold up over time maybe bitcoin is, ain a way, bringing market to bear as few others have. >> ark argued that as well, jon. a great point relating it to data consumption and efficiencies around it that improved over time pap a reminder, this is early stages and i spoke to gray scale earlier this morning all of this action and concerns around the environmental impact does that have potential to push corporations, institutional investors towards another cryptocurrency like ether?

carl, he said it's likely going to look like the precious metal spaces over the long term. there could be bitcoin, ether -- other cryptocurrencies that have different use cases and different addressable markets. i asked him if doge might be a part of that he said that was unlikely, though, but a good argument that there may not just be one dominant cryptocurrency, as we already see now and efficiencies can certainly improve. and in cases, change. >> interesting yeah and certainly the focus of that white paper out of ark a while ago as jon points out. keep our eye on all of that, fascinating push and pull. meantime, surprise croft our bumble not enough to keep shares in the green. investors have an eye on guidance julia boorstin joins us with a very special guest hey. >> thanks, carl. joined now by whitney wolfe herd, ceo and founder of bumble. thank you for joining us this morning. >> hi, julia good morning.

>> so whitney, your results beat expectations for the first quarter. your guidance for the second quarter, very strong seems like a lot of different points here that are showing better than expected results, but the guidance for the second quarter raising a lot of concerns for investors seems to be that's what is pushing the stock down this morning. tell us what your outlook is for the second half of the year. >> of course it's worth noting the business is continuing to do great. fundamentals are strong. we're seeing really great signs of pent-up demand, and as i've said to you before, julia, this is the business of love, friendship and community there's never going to not be demand for this. we are being cautiously conservative due to the nature of the pandemic. none of us, not you, not i, can predict what happens later this year around the globe. and so, you know, this is certainly not signaling we don't believe in the strength of our business it is really just taking a

cautious approach, given the complexities of the pandemic. >> and, whitney, as you look at results of first quarter, early results indications from the second quarter, how much of a better than expected results are tied directly to economies reopening? >> you know, we have a great product. and as i said. you know, we are in the business of helping people find love, friendship, community. a lot of this is just the nature of the demand that this business supplies, and these economies are starting to reopen, but what fascinating about bumble, julia, is that this is really a business that works on either side of the coin. if we are kept away from one another, we still need connection and community which is why we invested in the gamify ed in app date night, and as we see the uk easing lockdowns, the u.s. with stimulus checks, we

are noticing re-engagement that is such a strong sign that people are ready to get back out there and see each other in real life again, we really feel we benefit on both sides of this coin. >> now, whitney, of course, there is engagement and also the question of converting people to being paying subscribers what's your road map for that and how do you see the smaller a la carte payments from not paying to being committed to the platform >> of course very excited about the road match for consumables. 95% -- think about the wallet folks spend out in the real world as they spend on gifts, drinks, getting ready, going out. such an opportunity to add consumables into the product recognizing people are willing to spend on that deity journey we're excited about the early

tests we're doing and the product road map we have ahead where people can add on to the pre-existing ing subscription bt also the preexisting offering as far as a premium goes now. great for emerging markets and also the core markets. this serves a wide range o data looking for all sorts of things. another thing we're so excited about is this vast nature of who's using our product? we really see this generational use. you know women coming out of divorces in their 50s, 60s and otherwise this product is not just for gen c or not just for boomers. that's what's so exciting. >> deirdre here. nice to see you. you talk about massive opportunity in terms of dating other features, biz and bff, bright spots, go engagements why aren't you monetizing those yet? why wait, are or they already in

the works? >> good morning. great to see you just as we did with dating when we launched bumble for dating we didn't monetize right out of the gate. we are obsessed with the customer experience and want to make sure we are delivering the product and experience they really want. once we feel the product which is being relaunched this year is at a place that is serving the audience the way they want to be catered to, then we can start to explore monetization opportunity, but that is certainly not going to come before the user experience. >> whitney, you know, a while ago reed hastings was asked who his competition was outside of his peer group he said sweep, almost a mythical answer i wonder, if you think about your competition, is it -- is it -- is it going out and hoping to connect with people at random in bar the way i think a lot of us did when we were younger, or is it something else

>> interesting is that was once perceived as competition, but people have really through this pandemic come to realize that walking into a coffee shop or a bar and seeing a stranger, you have no information on that person there is zero context. what we're seeing is people are actually using bumble in the bar. in the coffee shop, to see who is around them and to garner some information people do not want to just connect at random. they want information. they want to have people that they're interested in. so i think this is going to be an out of home tool as well. not just the stay-at-home tool, in the sense as you go out and people start to bar hop, out to restaurants and socialize, they're going to use this as a vehicle too meet people while they are out i think you're going to see the behavior really take on a new life of its own as we all go back into the real world, and as we think about competition, you know, we serve such a unique offering in the sense that we

are putting women in control and for so long the dating equation that been dominated by the male choice. when you think about it. ladies' night has been one of the most popular frameworks s f almost every social bar, restaurants or otherwise that's needed now more than ever cominging out of this pandemic. >> i get what you're saying about information. sort of like wall street research don't just buy figure what it is you're getting yourself into. i noticed bumble app paying users, looks like up 44% overall. i'm wondering what's driving demand for that premium end service during this economy and as things open up? is it a desire for more time to sort of cull the options and be more targeted? is it a desire for, what, something else >> you knownknow, i think comint of the pandemic people realized what they're looking for some folks are not looking for

very serious relationships and some are particular about wanting something serious, some for casual this is what people want giving them more control over their experience giving them more control over who they see and who they want to meet. the inherent nature of this is, people want to meet people this is not going anywhere and as you've seen with our international growth we're so excited journey's growing into our third biggest market in a rapid amount of time, because this is a globe need people, women, men, otherwise, all genders, they need love, they need friendship and connection and don't want to meet just anybody. they want to meet who they want to meet. we all have preferences. that's what bumble offers you. >> whitney, you've talked a lot today about how bumble plays into the reopening of the economy, but over the past year, bumble's video platform and ability to date digitally was what drove your success during the pandemic

i wonder as we emerge from the pandemic how you see this balance of virtual dating and bumble driving people to in-person, real-life dating? how does that play out also, do you make more money when people decide to meet for dates on your platform virtually than when they meet on bumble and then meet up in person >> so there's something really interesting here that is likely going to stay i cannot tell you, julia, how many people just that we've seen through, through feedback loops and even anecdotally that have said, i will never go on another first date without videoing this person first even five minutes. i want to see who this person is on the other side of the photo i want to see how they speak if we have any connection. so this video first before meeting in real life, this is not just a pandemic trend. this is safety this is to contain control over your life. if you could save yourself two hours of an awkward date because you just didn't click with

someone, why not do that women recognize this men are recognizing this this is absolutely paramount and critical to the future of dating, even in a post-covid world. we don't want to waste our time, and covid certainly has shown us that more than ever before to your second point, the ancillary opportunities for this dating wallet are quite literally endless. think about the revenue opportunity down the road for this dating life cycle you meet someone on bumble video them, choose the coffee shop as we said, launching out of first coffee shop in soho this june that stein stays with you. the competitive set doesn't have that opportunity in that brand trust and loyalty. we really continuously reinvest in our brand reinvest in that life cycle opportunity. we hear people meeting and falling in love on bumble then

finding all their friends on bumble, getting a puppy and naming their puppy bumble. something special is here and we're really excited about the future. >> the puppy's name bumble an interesting time of transition for this company, going from the virtual world back into the physical one whitney wolfe herd, thank you for talking with us this morning. >> thank you julia, thanks to you with a reminder to viewers we'll see a lot more of her. another great interview with julia tonight, disney's bob chapel on "fast money." >> keep a close name of bumble named puppies in the neighborhood. and not to worry about jack. meantime, sonos spiking after reporting better than expected q2 results. the first in company's history net income positive.

raising guidance from full year saying revenue could rise as much as 29%. on "mad money" tonight, and "techcheck" is back in two. this is wealth. ♪ ♪ this is worth. that takes wealth. but this is worth. and that - that's actually worth more than you think. don't open that. wealth is important, and we can help you build it. but it's what you do with it, that makes life worth living. principal. for all it's worth.

a gut check.

deutsche calls it a buy, price target up to 46 saying the company is outgrowing online market 3-1 shares at 33, de, but back in march ipo day hit 69 we'll watch that. >> yes, we will. meanwhile, look at chinese tech giant alibaba shares falling this morning after reporting earnings the company delivering down more than 5%. delivering better than expected revenue, but a net loss for the quarter, first time in nearly a decade $2.8 billion anti-trust fine the chinese government slapped on the company weighing on bottom line since the ant group ipo was pulled last november, remember an alibaba affiliate $240 billion wiped off alibaba's stock price, but, guys, if it is time to move past the reg

regulatory, regulators moving on to other companies, investors can focus on what the alibaba business is doing well cramer mentioned it. making money livestreaming, and something somebody else in the space, mark lori, says would be key to the next era of ecommerce. >> 20 years from now, idea going to a search engine and typing in toaster and getting 10,000 responses figuring which to buy is something we'll laugh at in 20 years it's going to take time with early stages now, but i think conversational commerce is today where ecommerce back in sort of the late '90s. >> you have to wonder throwing shade at amazon there conversational can commerce side ecommerce. really a search engine still not super good at discovery st still. >> i don't know. do a lot of things ghost stores

blowouts hair going on in london, i think. omni channel is a big part of their story and i think, carl, question, how do you get there depending on industry? leverage data not just for a digital transaction and also somebody in-store and get that attribution piece right, too so that you have a full sense with first-party data, if possible, of the customer. >> yeah. i mean, on the amazon side, guys, i noticed this morning that ford is going to be integrating alexa more into more models we'll learn in days to come a big part of, adding to the conversation part, de, em 3beddn technologies deeper and deeper throughout the economy, for sure. >> you bring up alexa. almost said siri supposed to be the next big shift. supposed to order things through our echo devices i remember about a year ago my -- he was 3 years old at the

time, ordering something by mistake on one of our echo devices. jon, clearly not quite there but a big opportunity if the technology is improving every day. >> i don't know if you heard about the 4-year-old who ordered boxes of popsicles spongebob popsicles on amazon. watch out for that. trending right now on cnbc the world's most crowded trade check that out on our page plus, keep your eye on the cybersecurity sector tech bouncing back with these names not participating in the rally today. in 2021 all names on the screen. back in a moment.

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big cap tech making a comeback today after a volatile few days to the downside dominic chu has more on the names well off their 52-week highs. dom, there are plenty to choose from. >> there certainly are you wonder whether or not the bounce will have staying power, but there's a reason why some traders are at least dipping their toes in to buy some of the dips here because the nasdaq is now currently about 8% below where it was at the record high level. so the reason why it is important is because over the last year we have seen dips of around, say, 9% there, around maybe like 9% or 10% there, maybe 9% to 12% there.

in terms of the overall move so this is around the range where in the past year folks have started to at least step in a little bit to buy. it weent tasn't the dead low, b still it is the reason you are seeing some of the sentiment change in the nasdaq we'll see what happens here. but with regard to some of the mega cap names in focus here having come off their highs, we focused on apple because it bounced off its 200-day average price. you see apple shares are down to about 13% from record high levels nvidia, major semiconductor company, a big run there it is down about 15% from its recent highs then tesla, obviously not a technology stock but still we treat it as such, is down roughly 36% or so from its high that we saw over the course of the last several months here so those are some of the big cap tech names to watch. as for the ones that have maybe fallen the most with regard to mega cap technology names, those with market caps of $100 billion or more, these are the ones that some traders are focusing on

salesforce is down roughly 25% from its highs that we saw over the course of the past 52 weeks. then you have qualcomm, also down about 25% from its highs as women. and then paypal, a big run higher there but it is down to about 22% there overall. so as you take a look at some of the names that traders are focusing on, are there values that are coming in some of these mega cap tech names? they're specifically looking at places like apple, microsoft, amazon, tesla and others but still some of the other names like salesforce, paypal and qualcomm a key focus for sure, deirdre. >> thanks for that coming up next, we have some funding news for master class this morning meantime, take a look at match group, down more than 3% this morning, the second biggest laggard on the ndx, down almost 10% on the year. we are back in just two minutes. y to meet the world's needs while creating a cleaner future for all.

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despite the sell-off in public tech companies, we have not seen any slowdown yet in private markets. master class, the latest startup to raise money i can report it will announce its latest round today sources tell me its valuation tripled to $2.7 billion. now, its popularity has surged amid the pandemic, but like some of the other darlings we have to ask is it sustainable. i caught up with ceo david rodger who says growth was strong before the pandemic and

he expects it to remain so they're doing things like adding more offerings from the likes of wayne gretzky, the great one, and also launching an enterprise offering you know, carl, jon, this speaks to record deal flow in valuations in private markets. the question going forward though, how long can it last if public market volatility continues, and some of the biggest players like softbank, tiger global, they play in both spaces carl >> yeah, well said, dee. volatility is definitely claiming some victims. we have a couple of upgrades to mention before the break. first is microsoft rosenblatt is bullish, says it is the most important software company on the planet. they initiated buy, price target 301. then mkm likes sysco, calls it best in management -- best in class management team. the price target is 61 they like it as a buy, 20% upside "techcheck" is back after one more quick break

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before we go looking ahead to earnings tonight, we will get coinbase reporting its first earnings as a public company doordash, airbnb and disney. julia boorstin will have disney ceo bob chapek on air during

"fast money. tomorrow on "techcheck", brian chesky do not miss that >> yes, john airbnb once again below the opening day ipo, opening trade of 146 currently 134. a lot to talk about with brian "the halftime" starts now. >> carl, thanks. welcome to "the halftime report." i'm scott wapner front and center this hour, the question on every investor's mind, are we nearing the end of the sell-off we are debating with the investment committee brenda van jello, john brown, kevin o'leary is along with us today, too take you to the ball stocks, i said they're bouncing. dow is good for better than 400. nasdaq off the best levels of the day. nonetheless, given what has happened lately we will take the 68 points to the upside. kevin o'leary, big question, are we nearing the end of the sell-off can you trust what we're witnessing