able to win too many another one tonight. dan, appreciate your time. thank you. >> thank you for having me. >> you're welcome. and that does it for us here on "squawk on the street. "techcheck" starts right now ♪ good wednesday morning and welcome to "techcheck. i'm deirdre bosa with carl quintanilla and jon fortt. head this hour, direct messaging, hows the likes of adam, aaron and elon musk are embracing the retail investor. an earnings exclusive with hp ceo antonio neri joins us at the bottom of the hour and what to expect from f8, a stake for facebook's developer

conference. >> tech stocks moving, zoom shares slightly lower after a strong quarter and warnings of slowing growth etsy up 2% on an acquisition for generation z and lyft stock pedalling to keep up, a new e-bike in a challenge to uber. more on those stories coming up too. >> we're going to start with what we're calling fanbase capitalism, amc ceo adam aaron, leaning in further to the trade, launching a portal to reward its 3 million retail investors with special offers like, yes, free popcorn. it's worth noting the crowd owns 80% of the chain at the moment amc shares are surging up almost 26%, an all-time high. reminiscent of both coinbase and elon musk engaging with their fans, they have drawn the attention of the sec which argues tesla is not properly

vetting the ceo's communication. for amc, jon, when retail really makes up the largest constituency of your stock, you have to adapt and certainly adam aaron has repeatedly shown he's capable of that. >> i mean in a way i think this is great with an asterisk reminds me of naomi osaka not to do press at the french open and then not to do the french open she has 2.5 million followers on instagram and doesn't need to do press conferences to get her face out there and her message out there to engage with her fans and i think amc, elon musk, coinbase, andresen, so many of these companies, investors, players in the market feel the same way like why do we have to talk through traditional channels let's do our own thing i think, deirdre, you know, good information. good information is oxygen for markets. lately the public has had a hard time deciding whom to trust.

there was an old saying that i remember from when i first entered the journalism business, news is what the companies don't want you to hear everything else is advertising this is an up market everything seems like useful information. we'll see over time the value with this. >> we know it can go wrong as well when you have the ability of social media to go direct to your fan base or to your investors, you're seeing more and more athletes, ceos do exactly that in the case of amc the retail investor agenda is simple, right. keep amc alive, stick it to the hedge funds. hopefully make some money in the process, carl. i guess the test is still to be seen, at least when it comes to markets and this newer generation of investors coming in and ceos that will be speaking directly to them as hoho long does it last? in the case of amc, does it last as long as the company can get back on its feet and see

pre-pandemic levels of business? you know, this is a generation that has been called emotional and educated by wall street and proving these fundamental technical analysis don't necessarily apply to meme stocks and they're going direct to the company and the company direct to them. >> yeah. it's a wholesale change in how we're watching management interact with the equity holders. our next guest is on the board of one of the companies most mentioned on wall street, zillow co-founder and former ceo spencer rascoff with us, also an early investor in obinhood i have to get your view on this. it is original what adam aaron is attempting to do i think. at what point can we really tell if the audience, the shareholders, can be sweet talked even in the face of what might be challenging business metrics and earnings >> well, i love it i love what he's doing here and you're probably not surprised me to hear me say it.

look, cultivating relationships with retail investors is smart it's one of the reasons that many companies, especially consumer companies, go public in the first place. it's to raise awareness among their customers. you know one thing i've been surprised to learn is how important, how helpful it's been to enterprise software, enterprise customers as well slack or snowflake, there's no question their sales have benefitted from the fact that their stock is held by employees at these companies that they're selling their software into. it helps on the b2b side as well it shows how far we've come, though, because when we took zillow public in 2011 i wanted to put the at zillow handle beneath the phone number and i can't tell you what a fight that was. they wouldn't let us do it we spent hours debating this lawyers, investment bankers and said that wasn't allowed we couldn't do it. now just ten years later look how far we've come

i think it's great it makes a lot of sense. >> that's -- it's an amazing, yeah, amazing piece of evidence as to how we've evolved i guess as a financial audience. i do wonder if you think boards will start to look to ceos who have the human capital within them to interact with shareholders like this because you can imagine old-school ceo might be really challenged at having to open up like this. >> yeah. i mean i was always engaging with customers and with shareholders on twitter and i think as long as you do it within withes the lines, you know, some peer ceos sometimes think outside the lines, i think it's terrific. employees watch it, customers watch it i'm definitely a fan you know, this like all things, comes with an asterisk and making sure that you don't violate nonpublic information and that you obviously don't talk about company results that

haven't. revealed or announced yet. this demock critization and turning on the lights and providing greater access to companies you're seeing this more and more. last week, i think they allocated 1% of their ipo shares to retail investors. in airbnb i think they did that with their hosts as well this is a throwback to 1999. remember whit capital that was an early pioneer in letting retail investors buy into ipos and goldman sachs bought at least a quarter of it as a way for goldman to have more connectivity to retail investors back in the late '90s. courting retail investors has always been around the new piece, the new twist is being able to do it through social media. >> spencer, this also reminds me of apple has been doing this for a long time. used to be with mac world and then through its own thing steve jobs taking the stage, all that it's direct to the audience, it's marketing i think isn't that important for

people to understand when companies and vcs do this it's marketing, they're selling you something. the information might have value but you need to understand it's coming from the company, right >> totally you're seeing this in other places in the influencer economy, right, where an actor or actress would be more likely to get a part in a film or a tv show if they have a large social footprint they bring to that production already because it can help amplify the audience. what we haven't seen yet is social currency of executives or management, start to translate it will be interesting if we start seeing that in board rooms. i haven't seen the idea a company might actually hire a ceo because they have a robust footprint. maybe that's the next step in the celebritization of executives and social media. >> you're on the board of palantir which has taken a direct approach through investors, direct listing, also

favorite among the reddit crowd. what are you telling alex carp right now or how much time are you spending on this at board meetings in terms of how you communicate with investors and did you get ideas after seeing what adam aaron is doing what could palantir be doing to speak more directly to the retail base? >> yeah. i think palantir's product is, of course, selling software into large enterprises and governments so it's a different take than selling movie tickets and popcorn. there's no doubt that palantir benefitted from being public it raised the profile of the company, increased transparency at the company and clearly all shareholders are appreciated and welcomed by the company, whether they be retail or institutional investors. having been said in the board room, there's little focus, nearly almost no focus, on the stock price or short-term results or reporting retail investors. we tend like most companies to

prioritize and focus on the business and board level that's what [ inaudible ] and we figure over the long term the stock price will take care of itself >> spencer, i wonder, all of these, the wall street bets community, the reddit trade, memes, they've come in an environment where there's been a lot of liquidity and accommodation from central banks all around the world, and, of course, our own are and when that changes, and eventually it will, do you think these kinds of phenomenons can survive >> there's no question that one of the things driving this investor frenzy into the other asset classes, whether it be, you know, crypto or retail stock and options trading, is low interests. because people who move further out on the risk when they're not able [ inaudible ] on more traditional assets however, what has also changed, and what will persist even when rates eventually go up is the digitalization and the gamefication that these tech platform have invented

think of angel investment. ten years ago it was something that only a very small portion of people could do now you've got things like angel list and [ inaudible ] that have created these software platforms that make it easy for individuals to do it and game my fide it. or in real estate, there's a lot of innovation there. ryan homes, realty mobile, these are companies that make it easy for individuals to buy a portion of a commercial office building or of a single family rental home or other real estate in an asset class. consumers have said why should they be the only one able to buy this asset why can't i buy a portion of it. i don't think that's going away. ike that demock critization is going to continue. you are right, when rates tick up there will be some that say hold on maybe i should dabble in crypto less and be more conservative with my investing because i can earn higher returns in safer stuff >> yeah. in a way, spencer, grand

experiment taking place right now. thanks for being with us we'll talk to you soon. speaking of amc, how much money is coo adam aaroning may in the surge robert frank, turns out it's lucrative to speak to the retail investors. if they can hold >> yeah, very lucrative he hasn't sold any shares of amc, but that may get harder as his wealth soars and his fellow executives cash out. now aron's shares were worth $8 million with the stock price up 1700% since then the shares worth about $170 million his gains this year totalling $160 million and he's added $35 million just overnight as of right now. he also earned about $20 million in compensation last year and about $10 millions the year before now as we just mentioned he

hasn't sold any shares, but in march he did give shares valued at about $20 million to his two sons other executives of the company, though, have been selling. they've cashed out more than $4 million worth since march. the top seller is the chief content officer. she has sold more than $1 million in shares back in march. the general counsel selling just under $1 million and the cmo just sold 15,000 shares for a gain of $400,000 amc not responding for any requests for comment, carl but it's going to be tougher for these folks as they see these shares continue to rise, not to cash in take some chips off the table, just a little bit >> yeah. hard for our audience to blame them given the incredible increase in value we've seen robert frank, thank. we are getting some breaking

trade news out of washington this morning eamon javers has that. hi. >> carl, this coming from the u.s. trade representative which is announcing this morning that it is imposing but immediately suspending new tariffs on a range of countries that have imposed those digital services taxes that impact american companies, particularly the tech giants including facebook. nows the dispute has been ongoing tore for a while and the u.s. trade representatives office was going to conduct an investigation that began last year this was the deadline for that investigation to be concluded. they had an automatic process they had to follow so they are going to impose these tariffs, but it's not an escalation, they're saying, and the reason is because they want to give 180-day period of time now for negotiations with the surveys you countries involved in this dispute to take place. they say that they're optimistic about the tenor of those negotiations so wanted to create breathing space here where this automatic trigger is happening but not imposing these tariffs

until the negotiations are complete presumably there is some room here now for the negotiatingers to come up with a deal on digital services taxes and how that will impact the big american tech giants, carl >> you, of course, are on the ransomware beat lately we've been through pipelines, meat prosers, a smaller example this morning but just as interesting certainly? >> yeah. we're getting some indication now from the ferry service that goes from woods hole over to nantucket and martha's vineyard, the steamship authority has been a target of a ransomware attack affecting operations as of wednesday morning. customers traveling today may experience delays. they say they have a team of i.t. professionals on that if you're trying to catch the ferry to martha's vineyard today, might want to double check the schedule on that always a long line in the summer, particularly now, though, with these cyber attacks. we'll wait and get more information from them and bring

that to you and see if we can find out who is behind that attack as well as we've seen this proliferation of things hackers hit a beer company, gasoline, meat it's almost as if they're targeting the american summer itself, carl. >> yeah. yeah it does look that way. eamon, especially with the martha's vineyard ferry. what an interesting target. ebikes, meat hacks and the ceo of hewlett-packard enterprise, a lot more ahead this hour. antonio just getting started so it's another day. yeah- that's what most people think.

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a gut check on vim me yo pretty bullish, initiating buy and outperform respectively. cowan sees enterprise subs to rise more than 20% a year through 2026 shares flat off the opening day high of 61 >>. >> meanwhile bitcoin back up to 37,000 but still down 33% in the

last month where is it headed next? our next -- it is above 38,000 now. it moves quick our next guest sees a connection to meme stock corrections. director of global macro, break down the argument for our audience >> i've been a technician all my career and i always like to look at the pattern in the charts when i take a look at bitcoin for now, the unfolding of the decline so far from the highs of 65,000 back in april, to the lows of 30,000, to me looks like an incompleted five-way pattern. inside baseball. but that means that current consolidation right above the lows of 30,000 is a fourth wave and that we might get a fifth wave still to come that could be a retest of the low at 30,000 or a new low all the way to 23,000, which would

be where they weigh. the problem with wave patterns everything looks like one thing until it becomes another if we move above 41,000 here i think that basically negates that pattern and that means we probably already bottomed. to your question about the meme st stocks the overall cycle is transitioning from early cycle to mid-cycle the early cycle phase happens when the rally off the lows, these were the pandemic lows, a year ago or 15 months ago, that first phase driven by valuation like it was in 2009 followed the financial crisis then you get a transition from valuation driven gains to maybe a little bit of indigestion. we saw that in april 2010 when qe1 ended. we're in that little similar stage now. and then from there you get into

the mid cycle phase, earnings are carrying the market rather than valuation increase. we've had these rolling corrections since february it was the meme stocks, whether it's the index of nonprofitble tech stocks or just, you know, retail favorites or like recent ipos, they all kind of peak after spectacular gains and they've all corrected significantly. the correction in bitcoin doesn't really surprise me in that sense because obviously there's a lot going on in terms of the technology and, you know, a new aspiring asset class, et cetera, but also that part where towards the top a lot of tourists are chasing it and those get shaken out and that is what is happening now? >> in the case of amc when you have 80% of the investor base, retail investors, many of which say they're going to hold no matter what, can you apply this kind of analysis does it get trickier >> yes, for sure if you look at the data, you'll

notice glassnote, one of the data providers on bitcoin, the really long-term committed holders continues to grow, you know, almost by definition as bitcoin becomes older, so that's a very steady growth but on the other side of the holding spectrum, you have what i would call the tourists, where kind of three months or less in the space and they're just chasing it because it's going up, for instance, and then those get shaken out as price corrects the less than three-month holders were about 29% of all holdings in bitcoin at the peak. it's down to 22%p typically bottoms are produced around 17%. we're not quite there. that tells me that there's still some short term money trapped and losses that may get pushed out and a fifth wave to a new low below 30,000 would do that beyond that, the hard-core

believers who are probably going to be in it for a very time. >> i like that an interesting way of breaking it down in that dynamic. thank you for being with us. hp enterprise ceo antonio neri next. watch coinbase adding dogecoin to the pro side of the platform this morning mizuho warns an upside to the stock. read that on cnbc.com/pro. "techcheck" is back in just a moment do you struggle with occasional nerve aches, weakness or discomfort in your hands or feet? introducing nervive nerve relief from the world's number 1 selling nerve care company. as we age, natural changes to our nerves occur which can lead to occasional discomfort. nervive contains b complex vitamins that nourish nerves, build nerve insulation and enhance nerve communication. and, alpha-lipoic acid, which relieves occasional nerve aches, weakness and discomfort.

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[keyboard typing] resetting near the bottom of the hour welcome back to "techcheck." i'm carl quintanilla with jon fortt, deirdre bosa and julia boorstin who is going to break down facebook's f8 developer conference in just a few moments. s&p up about 12. a news update with rahel solomon. >> hi, carl.

good morning here's what's happening. toyota reporting may u.s. sales of more than 242,000 vehicles, up 47% from last may also above estimates hyundai and kia set new sales records last month tyson food ceo stepping down debanks is leaving the meat company after 8 months on the job. shares of lands up as much as 6.5% following first quarter unexpected profit. the retailer doubled its e ps guidance for the year and the stock up closer to 1%. a second positive drug test for kentucky derby winner medina spirit, the result raising the possibility the victory at churchill downs will be overturned you're up to date. back to you. >> thanks. hp enterprise beating expectations for the first quarter and the company

reporting earnings per share of 46 cents revenue of $6.7 billion. the company also seeing its first ever double digit sales growth shares are down just about a percent this morning perhaps some questions about the guide. joining us now hp e ceo antonio neri good to see you. now your fiscal '21 guide your mid-point is your old high end, but there are expectations to deal with too here how much of this has to do with chip supply? >> well, good morning. we had a fantastic quarter in my mind in the sense that we had double-digit growth and revenue, strong profitability and strong free cash flow at the same time, we are seeing traction across our portfolio and despite the ongoing challenges in the supply of the commodities, we factor that in our guidance which as you said, we raised guidance again this is the third time we've

raised guidance in the year since our security analyst meeting. so i think we are very well positioned and we see strong demand, steady demand and the portfolio is perfectly aligned to the customer needs we see in the market obviously there is more need for connectivity, more need for analyzing that data and then consumer i.t we are pleased with the results and optimistic about the second half. >> help us understand what's happening with green lake your infrastructure as a service offering dell at dell world was also talking more about as a service and infrastructure how much of that is what customers should use for their predictable work loads perhaps instead of buying equipment flat out and financing it as they would have in the past or how much is to really compete in a sense with that public cloud purpose as well? >> well, we believe the world is hybrid and you need to bring the cloud experience for all your

apps and data wherever they live more and more that data and applications are moving to the edge, where we live and work, and before bringing that cloud is essential more in an elastic way to deploying i.t. green lake is the cloud that comes to you and we have a unique value proposition that is an investment for a number of years because it's not the -- it is a true cloud experience and then ultimately focus on those loads that need that unique experience hp greenlake is the edge-to-edge platform to be consumed as a service and we believe the market is going to quadruple in the next three years. >> yeah. >> greenlake had phenomenal growth this past quarter and on track to deliver the guidance. >> what i'm trying to understand is, what workloads are you targeting for your

infrastructure offer with as a service? is it the predictable workloads, partly a cost argument, saying that, you know, the same cost that you would have allocated to purchasing that equipment and having it on premise and thus at the edge, or is it more of a flexibility and cloud argument where maybe you're paying a little more but arguing hey, that's because you get the flexibility of cloud >> actually, you're not paying more we are targeting a variety of workloads to the data intensive workloads. the first thing you have to think about where do you want the data to gravitate. the fact that you have to move the data is a cost savings because you don't have to pay for data back and forth. we can provide the same expedience and the production scale is cheaper to work the workloads on prem than the public clouds. there is going to be a true hybrid experience and we target the experience between on prem,

the edge and the public cloud with our software experience but at the same time we deliver the workload optimized solutions whether it's vm, containers, big intensive workloads and that's what we're doing and see the traction we grow the business 40 plus percent this quarter >> antonio, good morning i wanted to ask you why about c where you have a joint venture, called it very successful and a good way to reach a market that's difficult to compete in will continue or expand your business there do you think that chinese tech companies can now compete with theirs u.s. counterparts >> well, we are very pleased with joint venture we established the joint venture in 2016 and it has been an incredible success for china and for us as a one of the owners of the joint venture.

it has delivered significant value for our shareholders ultimately you need to participate in the second largest i.t. market and for us, it's a way to enters the market in a way that allows us to win we get the benefit of both, a china partner to do what they need to do in china and at the same time the shareholders i think, you know, the new way to operate, and we have another year to decide what to do with the joint venture because the put as we know is going to expire in april 2022 and we believe that is very successful. >> antonio, there's a school of investors who believe the q2 will be about corporate margins, hardware margins quarter on quarter got scrutiny in this print. do you think companies will be talking about that more broadly?

>> i'm sure they will, carl, but we have the record breaking gross margin 34.3% and we deliver operating leverage to all the work we have been doing, while we advance our strategy. so, you know, when you think about our ability to compete and win has never been better. we have a unique vision, unique strategy, great assets and our business is a force of nature in many ways because, you know, it drives high margins and needed in the digital economy because the first step is to connect things definitely there will be scrutiny, but we have been very disciplined in our execution and that's why we were able to print the numbers in our q2 earnings yesterday. >> hpe enterprise ceo antonio neri. >> thank you. >> draftkings getting a price target cut to $58 a share.

excessive executive compensation could impact shareholders. plus the start of facebook's annual developer conference is less than half an hour away. we will tell you what to expect. that's next. "techcheck" is back in two nobody builds 5g like verizon builds 5g because we're the engineers who built the most reliable network in america. thousands of smarter towers, with the 5g coverage you need. broader spectrum for faster 5g speeds. next-generation servers with superior network reliability. because the more you do with 5g, the more your network matters. it's us...pushing us. it's verizon...vs verizon. and who wins? you.

. facebook's developer conference " conference f8 is less than 30 minutes away i don't think we're getting a ceo keynote this year are we >> no. it's going to be very different from years past where i used to go to the san jose convention center and mark zuckerberg would make a keynote and announce things like facebook's move into dating, that was at one of these "fast f8 conferences they're calling it an f8 refresh and the announcements we expect will be focused on the developer community, different things they'll build not only within the facebook platform but whatsapp and messenger but not as flashy or as big in years past we expect to see an appearance from zuckerberg even if he's not giving a full keynote. >> of course, oculus continues to be a point of interest. i wonder what you make of ar, vr, a lot of discussion how

things like that are going to, for example, change the way we relate to one another in the office and at work >> absolutely. you know, ar, vr in the spotlight here after snap really made its ar announcements the centerpiece of its developer conference just a couple weeks ago. we, of course, had evan spiegel on to talk about that. for facebook we have to remember that oculus has gotten so big it has its own conference and oculus connect conference but we will likely hear a bit about ar in part because facebook has already announced that they're going to have these new smart glasses come out they ares the cool raybands that facebook has scheduled to come out later this year. you are looking at evan spiegel and his not ray itband smart glasses. those aren't full ar glasses but what the next generation will be after that everyone is curious to see where that's going. remember hugo who did run part of that ar lab, for facebook,

announced he's leaving maybe we'll hear more from the newer leadership in the av lshs vr division at facebook. i keep hearing from folks in silicon valley it's so interesting that facebook has so many hardware developers really working on what that next genera gene generation of hardware is going to be. >> that is interesting i have to to turn to you on amc. because we've talked a lot about the meme developments, the new connect platform that they're setting up with retail investors but it comes on a day where goldman cuts cinemark and imax to a sell, think attendance will rebound but now in ways that will reinvent the industry >> that's absolutely right we have to look at memorial day weekend and say this weekend showed that people are excited to come back to the movie theaters, especially for big films. the box office outperformed

expectations this past weekend goldman, in downgrading cinemark and imax, saying that that rebound is likely already calculated into the stocks and there are these other factors we have to watch now. such as the direct to consumer move by a number of studios and then potential cannibalization by that shortened theatrical window we don't know how many consumers are going to be so eager to return to the box office, return to movie theaters after getting used to watching movies at home during the pandemic, but it's going to be really interesting to see what happens this summer. i was just making jokes about, you know, facebook has f8, universal has f 9, the fast and furious franchise movie, that's a big one coming up, there's demand the demand is there. the question is just whether these stocks are overheated, considering all these different factors at play? >> yeah. and i don't think it's -- it's not necessarily a covid story where people are reticent to return for health concerns

the thr, the hollywood reporter has a great piece on the reopening of the new beverly in los angeles and giovanni is there and saying how great is it to watch a movie, don't have to look at your phone, sit and watch the film, but they're going to need america at large to feel that way to get that emotional about cinema as a practice >> look, the good news about the movie industry for this year there's so many huge movies delayed from last year that calendar is going to be really packed with huge franchise films. the question is whether people who are on the edge before maybe would go out and see a movie, maybe those are the people that stay home. we don't know how big that audience will be over the long term and whether we see the fact that some movies will be available at home after 17 days, after 45 days, how that impacts the full box office take and the full impact on some of these theater chains such as amc >> julia, thanks so much

a lot to cover today julia boorstin jon? >> after the break, a new company just took the title of new york city's most valuable start-up and just raised $1 billion. that's next. the work-from-home winners that can still rise post-pandemic we're back in a moment if you wake up thinking about the market and want to make the right moves fast... get decision tech from fidelity. [ cellphone vibrates ] you'll get proactive alerts for market events 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. at cdw®, we get that your world is always changing, and you need to adapt to support your digital transformation. we can help you achieve your business goals by streamlining your data across cloud environments with netapp® cloud services orchestrated by cdw®.

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let's talk stay-at-home stocks now zoom shares are now lower and

flip flopping after that blowout quarter that saw sales grow nearly 200%, although also warning that is -- that there is a slowdown coming as more companies transition back to the office it has been a good start to the summer for other pandemic players. peloton up double digits this week wayfair up 8 etsy this morning announced that it will buy fashion start-up deep pop for $1.6 billion. around 90% of the active users are under 26 years old the question is, can these work-from-home winners continue to rise in a post-pandemic world. we've been asking this question all year and in many cases, it looks like they have to prove they're platforms and beyond their corps. i was on a zoom call and counted 23 times that word platform was mentioned and they even brought on their head of zoom phone and zoom group making that case they can go beyond video conferencing

and sort of outlast the pandemic >> yeah. morgan stanley has some pretty good research on zoom today talking about zoom phone, for example. they've added 500,000 seats in five months. it took them search quarters just to get to 1 million, but the percentage of revenue coming from customers with fewer than 10 employees is now 36% and you tend to get more churn when you have customers that small. >> yeah. deirdre, i will not soon forget standing at the nasdaq as zoom was having its ipo looking the at eric and he was nervous about the valuation they were gettin on ipo day now all three of these just about, etsy off of this, trading around 3x where they were before the pandemic started so as you said, the question is, what else they got in the tank besides the stay-at-home play. can they build a platform and ecosystems around them that power not just revenue and

attention and premium, but also profit and growth longer term. >> in the case of etsy, not necessarily a new product, you know, there is a new offer, but perhaps a new generation which we've been talking about also. you want to capture that younger millen nall and genz the ceo calling the retail home for gen z consumers. he has his eye on them, carl. >> it's not e-commerce it's recommerce as we've been saying it's a huge growing market one more meme stock making headlines today is actually kodak. new york's attorney general demanding that its ceo take the stand amid allegations of insider trading. we're going to talk about that maybe later on shares up 12%. the latest on the meat cyber attack after the break "techcheck" continues. stay with us do you struggle with occasional nerve aches in your hands or feet?

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lyft is doubling down on micro mobility as ride-sharing struggles with driver supply and ever-longer wait times for riders the company unveiling its next generation e-bike. they includenew updates like a stronger motor and longer lasting battery. but, guys, perhaps the most important feature, these bikes, of course, don't require drivers or the pricey incentives to get them back on to the platform

uber meanwhile off loaded its bike share division, jump, last year and doubled down on delivery lyft has been outperforming uber over the last six months take a look at the differential. lyft up 35% versus uber being underwater by about 3.5% the new bikes from lyft will be available in san francisco for beta testing, and then in chicago later this year. carl, interesting dynamic emerging between the two companies as they sort of take different tacks over the pandemic and emerging out of the pandemic as well >> yeah, no, they're duking it out. hopefully consumers benefit from all of that. guys, b of a is out with top picks in the work-from-anywhere basket this morning. shopify, adobe, salesforce, some of the biggest winners there stay with us at cdw, we get your it staff has be ready to take on new challenges. that's why we built an office obstacle course ... to prepare our people for anything. you're late well, cdw amplified services experts

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you so fired up today? >> well, i think that -- first, you're not ruining my vacation amc is fascinating what got me fired up today is now at $22 billion with 300 million shares traded out of a total of 500 million, it is obvious this is one of those the sellers just had to go away because they're taking it higher but what i thought adam aron did the other day, the ceo, is brilliant. he is growing the company. he has shares that he can offer to be able to really buy pretty much any theater in the world or any chain. i think he's going to do that, and so he's got some growth. i also think his strategy of selling some shares to a fund, just flipped it, which i can't blame him, is also brilliant it is the meme people, carl. they have two stocks, they have amc and they have game stock and they have nothing else, frankly. they're bent on some sort of contest where they want to

destroy the shorts, and anybody who says it is overvalued is a target but i don't care you and i both know at 22 billion you got a stock some would say is overvalued. >> jim, it is jon fortt here if you want to believe in amc long term, based on what you see happening in retail and entertainment, what does amc have to become because, yeah, he can buy up theaters do they have to have more of a tech play to justify a little bit more of a softer valuation >> jon, that is brilliant. we know that adam aron's background is hospitality. he knows that, starwood. i mean i can imagine him making a deal with a real estate investment trust saying, look, we will put theaters now that covid is waning in your -- you know, top flight theaters in simon property group, in federal

realty adam knows everybody he can put some sort of theater wherever you need it, and he's going to own this business, which in the end is going to be a great business adam is a fantastic manager, but what he really knows how to do is run a stock, and it is simply brilliant. you got to admire it just for the moxy >> jim, we got about 60 seconds left here. you know, if you had been with us today you might have commented on the goldman downgrade of sin mark and i max down to sell directionally do you think they're right on what attendance is going to do >> i think it is going to soar i think people want to go to the movies, and i think adam should buy both of those in a heartbeat and become the king. the gold winner, jack warner, adam probably wants to be jack warner so it can happen. i love that.

adam, warner he want to have a great time, too. there's nobody happier all righty >> jim, yeah, i hear you we were glad to get you on the phone. have a great week. we will be talking soon. >> we will be together >> jim cramer on the cnbc news line >> thank you guys. bye-bye. >> let's get to "the half" all right, carl. thanks so much welcome to "the halftime report." i'm scott wapner front and center this hour the hottest trade in the market right now, and whether it can keep surging we debate it with our investment committee. joining me for the hour kari firestone, ceo jim lebenthal, steve weiss, joe terranova, good to see everybody. let's go to the wall stocks pretty much trying to get to highs of the day. dow is up 71 s&p is good for 12 nasdaq is good for 32. there is energy, because it is once again one of the best sectors today, up 1.5% that is the best trade of the year joe terranova, your wheelhouse i don'ca