steve weiss? >> fed ex. >> dr. j. >> mtr, nutrient to the pats and so forth. >> jenny. >> medical properties. >> good stuff. fun show, everybody. looking at the nasdaq, down know more than 97 points. "the exchange starts now". >> we have a new question when it comes to all the meme madness, are retail investors actually getting played? we will research some answers and tell what you people are saying as more legacy players jump into the ev space the charging stocks could benefit. we will speak with blink charging about its plans for expansion. would you play the tweets? blackberry, and how apple is bringing people back to the

office let's start with the markets seema mody has the numbers. >> one day ahead of the jobs report the dow is attempting to stage a comeback, positive after staging a 266-point doe klein at the open we are currently up about 24 the teernl yield back to 1.64% here on the upbeat economic data we got out in the last two hours that prompted some concerns around inflation the tech selloff continues 3 to 1 decliners on the nasdaq to put this move into perspective, the composite is 4% away from its intraday record. biggest losers, a combination of big tech, amazon, apple, facebook docu docu-sign, ahead of its earnings report at the bell, shares are down just about 2.2% what is working for the market right now. >> san business stocks, ledby till real estate, the stock up 4% an upgrade at canner

fitzgerald following its merger. >> seema mody, nank. we begin with a reversal in several big meme stocks today as you have been seeing all session. amc is down about 15% right now. it announced plans to issue another 11 million shares. it is not just amc lock at koss, bed, bath. gamestop kristina partsinevelos is here with look at the shorts who might be breathing a sigh of relief >> a small sigh of relief given the losses but it is a change of tone we are seeing across the board. that's once amc this morning filed to sell those 6 million shares it triggered a volt halt this drop is what i want to focus on it comes on the heels of an incredible run for amc that we saw yesterday wednesday. so much so that amc's filing

today warned investors quote under the circumstances we caution you from investing in our class a common stock unless you are willing to lose all or portion of your investment short sellers causedexactly that to happen amc caused a loss of $2.79 billion for anyone who bet that it would fall. today, though, we are seeing some profit taking of the ten worst performers on the russell 2000, five are meme stocks, ped med, blackberry and express. and of course a crowd favorite, gamestop what is ahead for investors of course is anyone's guess, right. >> of course

we are getting details on the amc share offering et cetera they completed their 11.5 share at the market equity offering they completed it today. they raised $587 million this brings i believe their total share count to over 500 million from about 50 million last year. usually those economics would not result in the price action we have seen over the past couple of weeks. but it might be one of these cases -- joe miller joked about this with bitcoin but the higher the stock price the more at attractive it is in other words, the higher the stock price the more they can do these offerings and maybe they will be able to spin the industry together. >> what about dilution >> exactly. >> putting more shares out there, how much higher can it go obviously a question we ask constantly. >> and shares right now ticking towards session highs, down only 7% after doubling basically

yesterday. >> those who have take ten momentum run are very happy. >> exactly their average price for issuing these shares was $50.85. it tells you about the demand. astonishing. it is going to go down in the textbooks. maybe the shorts aren't so happy right now, dpaepending on how t session plays out. is it too soon to declare the reup of of the retail investor is the public getting played here when you pull back the curtain on some of the meme trades chris, i will turn to you first. are you concerned about the price action in some of these trades >> of course, kelly. how could you not be i think it makes a great story that these retail davids are beating up the institutional

goliaths i'm just not sure it is true i think january was the training grounds can hedge funds are on to this and they are bidding the stocks up to squeeze the shorts and then they are getting out to leave the row tail investors holding the bag as the stocks retreat over the next couple of weeks. i would be very, very careful? chris, the reason investors are aware of this dynamic, they are trying to figure out who is in the forums and if this dynamic is being turned against them and there are plenty who have made quite bit of money on these trades not all but certainly some they might be sitting there feeling like i don't feel like i have been played, i feel like i made good trades. >> sure, there will be headlines of folks that did come out on the right side of the trade. again, especially with the stocks where they are now, amc is the perfect example, inthe upside is behind us and the denyside of a stock that is losing market and now has a market cap of over $30 billion

is really problematity. >> abe, what would you add to this discussion? >> the average holding period for amc or whatever is five days this is a whole different community. day trading community. they have always existed they will continue to exist. you know, just one cautionary note here is that, you know, the general founded the retreat months ago if you look at tesla and the ark innovation funds the momentum beaters that were in charge for many months. for some reason, these little brigades are still out there, you know, fighting these little battles. but i think anyone with any sense knows it is going to end poorly amc, intrinsic value -- if you were to ask me, what would i pay if i had a suit case full of cash for amc, my answer would be about $2 a shampl all the value

is taken up by the debt. i might actually -- of course, the debt holders know this that's why the bonds trade at discount to the par. and even the new mud rick offering, they didn't just, you know, get something for nothing. they got firstly insecured bond at 15% coupon, which isn't great financing. >> that puts them first in line -- the hedge fund is first in line here in the event. right. let me ask you this, abhay, amc i have heard has $5 billion in debt now its market cap is much bigger than its debt does that not create a dynamic for them to create the cash flows to service that debt in a more sustainable way than we thought months ago or during the pandemic. >> the number i gave you is getting back to the peak

revenues that they had, $5 billion in wretches. there is $5 billion in debt but they have $800 million represent expense every year they lease all of those properties the amount of leverage that is there through on and off balance sheet financing overwhelms any case you could make from a fundamental perspective for there being any significant amount of value. certainly not $20 billion. maybe there is a nuisance value of 300 or $400 million again, this is a completely different dynamic. centerstone is an investor these are day traders. they are trading on a story. the story is going to held out for many years, but they are only holding on for a number of days it is a day trading phenomenon. >> i love the way you have broken it down to get to your intrinsic value, essentially $2. chris, those looking for the

anti-meme stocks, ways to avoid this, i know you have brought some ideas in a nutshell, what are they >> sure w the magician waving the shiny new thing, the meme stocks, i think lockheed martin and striker are serious businesses that make things of great consequence. and both way underperformed over the last year. while the attention is diverted elsewhere look at lockheed you have an f-35, you have a stock that's underperforming because a democrat has been elected. it happened before, these stocks tend to bounce back. the world is clearly not a safer place than it was ten years ago. really like that strike. striker makes artificial hips and knees and shoulders. that's a reopening trade, one of the few reopening trades that. >> we have to leave it there i wanted to mention abhay your

picks include so noko and air france great discussion, thank you both >> sure. >> sure. >> is the rise of main street actually benefiting goldman sachs. they have had another % gain over the past week goldman has climbed 47% this year making it the best performer in the dow it is outperforming the financial etf. since solomon took the helm, goldman shares are up 71%. he made major changes. goldman aunched marcus its consumer arm in 2016 the push into mainstream ramped up in 2019 highlighted by the credit card partnership with apple. they recently hired a former uber exec. joining me now to dig into goldman's evolution and its valuation, jeff heartis, senior

research analyst at piper sandler. and "new york times" reporter kate kelly is here great to have you both here. kate, does goldman still represent wall street as far as you are concerned? >> that's a great question i certainly think about it as a wall street firm when i write about it for the "new york times. maybe even the sort of wall street firm because its brand and franchise still loom large in people's minds. and that may be because so many of their alumni go into government they might have a slightly higher profile than some other banks. it's good question because i think all of the one-time investment banks morphed into different ways morgan stanley has gone into wealth management and the retail wealth management business, the mass afluent jp morgan, citi, bank of america obviously are universal banks and were precrisis as well

and then you have goldman, custom is only just now sort of ramping up this consumer business if you talk to some analysts, they would tell you their clients hate the retail business for the most part and they don't know of almost anyone that's investing in the bank for that reason but that said, it has been a priority of david solomon's and blankfein before him they have seen some growth there has been realignment in that money management business and it seems to be doing very well asset management, separate from the retail had a very good first quarter and the first quarter had record revenues. >> wow. >> they are on track right now to make well over $1 billion in revenue per year, which sort of blows away their precrisis record. >> jeff, let's turn to you on that note and ask, you know, is the retail business something attracts people to goldman, helps account for its outperformance this year or not. is david solomon chind of the key person here in revaluing this company or is it just the market

environment, the fact in a rates are up a little bit and that sort of thing? >> i think it is a little bit of both capital markets have been strong activities wide, that plays into goldman's hands. certainly given them tail winds. but saved solomon made a lot of good changes that are starting to show up in bare fruit as far as generating revenues and improving profits. i think there is a fundamental shift going on within goldman as well as being exposed to the markets which have been really strong the goldman sachs stocks are up a lot. even after the current run i still see upside. >> you just raised your price target jeff to $420 a share. that's only about 13% upside or so from here how did we know -- are we talking with price the book? tell me about valuation metrics and whether they are

historically underor over valued here. >> i am used to looking at price to tangible book value and comparing to it the rotc you can do it over time, depending on what they earn as far as rocte, you can look at the book value they are trading at 1.5 times tangible, you put a 15% rotce in there, they are undervalue what i look for in my estimates, ultimately earning drive it, i don't think i am being aggr aggressive i am ahead of the street and more on theist innic than most but i don't think i am going aggressive i think there is upside as opposed to downside risk as far as my earnings expectations over the past couple of years which could drive more upside. >> wow what does goldman look like if we play this all forward a couple of years out. >> that's interesting. i assume if you talk to david or his senior team they would say we are going to be continuing to

be much more transparent for investors. jeff remembers that was a big t theme of their investment day. i am sure they are hoping to see more retail growth they are launching more products for that business. presumably, markets will be strong not everybody had the faith solomon could successfully run the global markets business and there were calls to skinny it down even further than they had in the post crisis years under blankfein. they have had the wind at their back because there has been so much volume and volt in the past year as you know, those are ideal conditions for making revenue in those areas, sales and trading. whether that continues, whether they can navigate more complex markets, presumably, they can. and presumably david is going to continue with this franchise but i think that's something to watch. >> gratifying performance under his tenure and quietly one of the best performers in the

market jeff, kate, thank you both appreciate it today. coming up, the hunt for workers is heating up and some of the thing companies are doing now may surprise you we have an inside look ahead of tomorrow's jobs report. plus, this stock is up 2,000% in the past year despite having no time line for turning a profit and being one of the most shorted names on the street we speak with the ceo coming up on the exchange. >> announcer: this is the exchange, on cnbc.

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welcome back recruiter.com is out with its may survey showing job recruiter sentiment back at an all-time high after dropping a notch in april. it is up to 3.8 marching the high set in march. there could be a battle brewing between employers and employees what want to keep working from home 3/4 of the open jobs require employees to show up in person at least part of the time. for more, evan stone, chairman and ceo of recruiter.com the main question really is, are shortages about to slow down the hiring pace that we could see across the economy in the months ahead? >> first of all, thank you for having me on your show we agree it's nice to see that the

sentiment -- last month we reported the recruiter.com index was down to 3.7. now it is up to 3.8. it is what you are mentioning. remote work is up. and at the same time in person reermt are up. the hybrid is the one area that went down. we are seeing a struggle of employers trying to kind candidates it is truly a candidate market 42% of the recruiters that participated in the survey reported that salaries were increased from april to may. that's an incredible amount of money that's now being pushed out to candidates to get them to come join their firms. we think that the remote -- increase in remote will attract more talent. we also saw that -- we look at what -- what salary the jobs are that the recruiters are working on n. april b 15% of them were under the $40,000 category, the $15,000 to $40,000 a year salary

that number went down to 11.5% in may but the -- so there is a lower skill jobs that's really where do you find these people >> just from news headlines this week you have travel and leisure, a hospitality company, offering associates up to $1,000 to stay for three months you have waste pro, a garbage collection company offering referls and retention bonuses of up to $3,000 we have heard of mcdonald's promising iphone incentives just to show up for the interview you have one-time bonuses being offered to employees we are seeing it across the industry yes, it is happening at the low end. but it is happening it seems up and down it is a mass reshuffling, it seems to me of america's workers.

>> you talked about the hospitality industry, the food and beverage industry made it into the top ten the recruiting industry actually made it into the top ten, up five points from april in terms of the jobs they are working on. but you are absolutely right you are seeing a reshuffling and we profess the our clients looking to a different pool. we talked about that last month, where do you find these workers for the entry level hourly workers? and meanwhile you have millions of underemployed college and high school graduates. we think that's a great pool the start pulling from because you are going to have to change the narrative. you have got to increase the salaries, increase benefits, increase perks, whether people want to work remotely or not those are things that companies have to do to find those candidates. >> it is surprising the me that hybrid roles are becoming less popular. i know a lot of people who are anticipating and they are starting in the mid 30s, 40s age group that they can continue to go into the office maybe three

days a week. do you think that that is something that could still be here to stay >> absolutely. i think that there might just be a confusion when you are looking at a candidate, is it remote is it in person. i think the hybrid got people confused what does that mean? does it mean i have to have a high-speed internet at home and at the office. do i need a dedicated space at home and in my office. as you mentioned before, kelly, companies are trying to figure out what is it going to take to get those candidates to come to their company? is it better perks in person but work home two weeks a month -- two weeks a year where you can remote low as apple is doing right now i think it is getting clarity on what that action is. we think the word hybrid might have confused people what does hybrid actually mean. >> we are all trying to figure it out people have massive mortgages and made major life moves anticipating this.

i am curious to see where it all settles. evan stone talking about the labor market. if you wanted to invest in the ev space, there are automakers, charging companies, but what about blackberry. the cruise stocks are having a stellar year but industry is in a legaltaoff sndin florida that could put its future into question we have got the latest hey lily, i need a new wireless plan for my business, but all my employees need something different. oh, we can help with that. okay, imagine this... your mover, rob, he's on the scene and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, asap! so basically i can pick the right plan for each employee... yeah i should've just led with that...

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welcome back half past the hour let's get a check on the markets. the dow was down 265 at the lows it is up 50 right now. slight gain, but it's the only major average that we are seeing the gain in at the moment. the s&p down fractionally. the nasdaq down two thirds of a% let's check the sectors. financials hitting a record high utilities energy also outperforming. going the other way and silver and copper among the worst performers time for a cnbc news update with rahel solomon. hi, rahel. >> hello good to see you. here's what's happening at this hour, everyone a reminder president biden calling for an interagency review to combat corruption and also identify intelligence gathering opportunities to uncover illicit financial activities. florida representative mat

gaetz is under investigation prosecutors are investigating a phone call he had with a witness in the probe of the sex allegations against gaetz. a memorial informally known as george floyd square has been cleared and traffic did briefly flow through the area for the first time in year before commune activities put up new barriers tonight on the news, a debate on how to remember george floyd and what permanent memorials will go up in minneapolis. twitter sings the blues. apple's return to work plan. and the two biggest ceo pay packages of 2020 it is all coming up in rapid fire n'gonyere. it's right after this.

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in business, it's never just another day. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it. comcast business powering possibilities. welcome back, everybody. let's catch you up on a few stories that should be on your rye darr it is time for rapid fire. here, julia boorstin, kristina partsinevelos and joanna stern first topic, is twitter unveiling officially its first-ever subscription service? they are kulg it twitter

it is the inverse of what i thought they were going to be doing. they are aiming a the power users to pay up. i thought they would aim at the regular users to pay for access to the power people. but there are cool tools it starts in australia and canada, right? >> that's right. it will be roughly u.s. $3 a month, and australia and canada. we don't know how much it will cost in the u.s. or when it will launch in the u.s. to your point that you expected them to do something different and have the regular users pay for maybe more content from the power users that is something that could come soon as well i think the key thing here is they don't expect this to be the future of twitter. they know it is going to be a smaller percentage of twitter users that are willing to pay a monthly fee for something we all associate with being a free service. but it shows twitter making headway towards having multiple revenue streams. >> shares up about 1%. joanna what do you think about

what you are hearing so far about this service >> i think it makes a lot of sense for twitter especially focus on the power users, which i am one of them and some others on the panel may be as well. we are on twitter all the time we may be willing to pay more money, $3, $4, around that range for a little bit more features, a little bit more accessibility to the platforms, some tricks and tips there i think the big thing that i see here is that's a low price, or a low subscription i don't know any subscription that hasn't gone up in price by adding more features down the line so i expect to see that as sfwheel kristina partsinevelos last word. >> i think it is a lot to do with increasing revenue. they have focused on ad wretch, facebook and snap chat are major compe competitors. and you have this active investors like elliot management and silver lake that are pushing twitter to increase their revenue. twitter has said they wanted to double their revenue to $7.5 billion by the end of 2023 clearly, they need new revenue

screams. $3.50 canadian, i am not sure that will really help move the needle but maybe with other products they are going to be looking at, with the tip jar service and super follows feature. >> julia, what do you think would be the one feature that would unlock a rush of interest. the undo tweet, i think it would render help if you are getting harassed and that sort of thing. >> in terms of twitter blue, this new service they have something similar to an undo tweet where it gives you a 20 or 30 seconds period where they ask do you really want to tweet this i think there is still a demand for a twit -- twitter edit feature. i wish i could rewind and edit that so there is demand for really an edit feature in tweets but that's something everyone would like not just super users.

>> i am willing to pay $6 for that to go back and change my answer from two minutes ago. >> exactly let's talk about some of the meme stocks. blackberry is riding the roller coaster this week. now it is up 20% then it reversed lower it turned positive again for investors who can look past this volatility could it be a way to play the ev and car space? it shifted from sell phones to focus on ev automobile software. it is already embedded in 200 million cars around the globe. there are well reasoned thoughtful cases out there on the internet as to why they should own blackberry or any of these stocks it just feels like the retail public is realizing that you can kind of pull forward some of those gains, right it is like the more people who

see this case and the more that it is discussed in forums, then maybe the gains you thought blackberry might enjoy over a five year time horizon you can get in a five day window. >> sounds like we are not identify trading on fundamentals but rather the momentum people are rallying in these groups but blackberry has been making the cyber security shift for a long time. you mentioned 200 million cars they are in. this is almost 12% of all cars on road today. a substantial number of cars are using this technology, qnx is the acronym for it with the momentum trade i want to point out volume. blackberry this morning was one of the most traded stocks on the new york stock exchange. talking about volume yesterday, 346 million shares versus week and a half ago to the date, only 5 million shares trading. >> we mentioned amc earlier. i mean they are taking advantage of their share price by issuing -- they have 10x the

share count today and the price is dramatically higher it is interesting to watch -- harness the power of the retail public to almost work in conjunction with these companies to achieve -- it reminds me of a spac or shark tank, hey, if we all get on the same page here we can really help to grow this and enjoy it together? kelly, i think the interesting thing about blackberry is that it really does fall into the same category as amc and gamestop these retro stocks that represented at different time. and yes blackberry has embedded its technology in evs and in a lot of ways it has a fundamental argument but not for that kind of volume. if you look at that volume it doesn't make sense on the fundamentals this is meme stock there is no way to talk about those volume numbers that we were just talking about and have it make sense on a fundamentals level. >> it is remarkable. after yesterday's surge to watch it kind of hanging in there

today even after the issuance. extraordinary. let's talk about the latest back the work news apple is telling employees to come back to the office. they confirmed to cnbc that all workers will be in person at least three days a week starting in september they said some teams may return full time. all employees will have the option to work remotely two weeks out of the year. rivals like twitter and square already said their employees with work from home forever. google is keeping 20% of its work force home for good are we going to see work from home as part of the two weeks vacation and two weeks work from home package or is the shift going object more significant as we spoke about in the last block, everyone is trying to figure out what hybrid means when we are talking about both working in the office and working from home. >> i wanted to say i miss my blackberry i wanted to contribute that to that last segment. >> that's how it all started

having blackberry was the original work from home movement it was hybrid work we could workanywhere on our old black buries apple is interesting they have not been as bullish about working from home as the other tech companies, not as bullish as twitter who said sort of everyone can work from hem for whatever, forever. facebook and others now adjusting what they had said at the outset of the pandemic i think hybrid makes a lot of sense for all of these companies. apple, you can't ignore the giant spaceship in their backyard, the massive campus they built people like going to that office it was a big lure for tim cook who said yesterday that video conference hasn't replaced some of the in-person connection employees get. not surprised to see apple move more back to the real office than just hybrid. >> that's a good point almost becomes a marketing move to recruit workers especially in this tight labor market. >> i have been to that apple

headquarters it is spectacular, really impressive and i understand why tim cook wants to get people back there i think there is a question about transparency i think now we are hearing from a lot of companies that they want to let employees know what is going to happen in the fall the sense that summer is going to be a grace period, people can come in the they want. but in the fall companies want to figure out what their new normal looks like. i think this is going to be a recruiting tool, this is what our hybrid or work from home situation is is going to look like i think we paid so much attention to the companies that will allow employees to be entirely remote a lot of other companies are saying we don't want our employees to jump to assumptions about what their future might look like so we want to clarify. >> a lot of wall street firms want their people in person. i think that could hurt -- they are struggling to retain talent as it is, let alone if these

rivals offer better perks. before we go, i have to talk about headlines coming out on executive compensation palantir and doordash gave their chief executives two of the biggest payouts ever including stock rewards, palantir's alex carr raked in $1.1 billion the doordash chief collected $410 million it is worth noting neither of the companies is profitable yet. and neither is in the s&p 500500 the median pay for those ceos average was $500 million last year $1 billion, $410 million what explains that. >> well, according to the companies, it's to boost morale, keep the ceos on the job, and motivate them to increase the company's value. i know there is probably some ph.d. people out there studying the perfect amount for a ceo to

keep people motivated. is it supposed to be that eye? you talked about the averages, $13.4 million, the median ceo pay. is it justified for a companies that unprofitable? i think that is the key point that you just mentioned. the company is unprofitable. yes, for the doordash ceo, he has restricted shares that he won't be able to earn until next june but doesn't matter these are high numbers we are talking about. >> right. >> if i was an employee working there i don't know how i would feel about that. >> i think it is important to distinguish between sort of compensation in the form of potential future equity versus cash that you are taking home today. also look at the case of tesla elon musk who had so much incentivizes in shareholder price and performance, basically his entire salary, and it paid off both for him and the entire company. is that wise, so that many others are eager to follow that trend? >> yeah, i would opponent out that that's how doordash

structured their compensation situation here it will only invest if the share price rises from the current levels between 25% and more than 3x i think there is pressure on the ceos to have their shares go up. that's not the case with palantir those shares vest over ten years regardless what happens with the stock price. but the elon musk model of motivating ceos to have their shares go up is something to be something we talk about a lot going forward. >> joanna stern, last word. >> all of you mentioned the word not profitable, or the sentence these are not profitable companies yet. i think when you look at the list, and we printed in the journal the list of since 2007 the pay, rising to the top of companies that were not profitable while some of the companies that are profit lk are at the bottom of the list. >> it is a unique twist f. they don't achieve those goals and it works out for everybody, they

don't get paid for the time being it seems they are suspending reality thank you all. up next, take look at this mystery start. the name is up nearly 2,000% over the past year as it catches the attention of retail traders can it keep charging ahead june is pride month. all month long cnbc is spotlighting business leaders and our own contributors here is weigh ray parisy. >> the day i came out my parents cut me out like that and we didn't speak for over ten years. for a long time i concealed the fact i was gay i thought it would disadvantage me but the truth is having to conceal who you are is a giant disadvantage your biggest achievements in life and at work will come when you are true to yourself i am proud to see mpiecoans including this one making diversity and inclusion a big priority

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welcome back it's time for the big reveal of our mystery chart today. the stock is up more than 2,000% over the past year it is ev charging space station operator blink while it is the darling of retail traders some on the street are betting heavily against the stock. as of this morning it is the fourth most shorted name with 36% of its float shorted w. the big three automakers leaning into evs could the company get more of a boost or not joining me now, michael farkas, the ceo of blink you are the second guest in two days what w.h.o. we had on yesterday it was ev go they are about to go public via spac 7-eleven is going to be rolling out fast charging ev changes what is blink's advantage? >> we are the only fully integrated ev charging company that allows us to handle all

different property types and types of owners. most of our competitors are specialized in a specific field. we are in from designing the hardware, manufacturing the hardware, although we outsourced that the network is ours. that operates all of these charging station and first and foremost we own and operate a lot of our charging stations. that's really our main focus. >> we also are learning more about fast charging versus traditional charging, how much charming we expect people to do at home versus at places like a coffee shop or a traditional gas station. what does that network look like what is your market share of ev stations right now. >> we believe that most of the charging is going to be done in a residential or home environment. whether that's single-family homes or multifamily residential facilities or in dense urban areas, literally on-street parking or mixed use garages that's where we believe a lot of the significant amount of

charging station revenue is going to be derived from you are looking at approximately 85% of the market in the home daytime market not using super chargers there is a massive need for super chargers and we are heavily involved in that space, but we do really foresee an environment where most of the charging is done at home or ovef time and much cheaper. also from just getting access to the energy the more power you have the more it costs you for that energy so people are cost conscious and charging overnight we believe that's what they will do. >> our yesterday guest said it's $8 but some pairing apples and oranges. the investors probably want to know when you will be profitable. >> if you talk about a unit by unit metrics we try to focus deployment in areas with utilization. you have to look at this industry for what it is today.

throughout the united states we have a couple hundred thousand charging stations deployed some 2030 we need 16 million and i have seen higher estimates than that. it's not necessarily about profitability but always in the thought process. right now it is really about a land grab and having as many charging locations and stations that we own and operate and have exclusive contracts with. >> a land grab is how we described it this morning. we understand that people want the stations out there they're more utilized by consumers. will you be compensated by the infrastructure plan? >> without a question. we see a consensus that the $4 billion earmarked to ev infrastructure, there's no arguments. may be other parts of the bill but we have a consensus there. there's funding from the obama days and the trump days and from

the biden administration will be off the charts and participate in a big way with the flexibility and the locations and relationships that we have when you look at us, from an owner operator conspiracy, ev go doesn't have their own charging stations but at that side of the business there's a lot of opportunities from the grants, rebates to own and operate more charging stations and sell them to others to own and operate them and impacted on both sides and not just building out the infrastructure. >> we'll keep following the space as it grows and you're part of that thank you. >> thank you for having me. speaking of evs get a market flash on tesla phil >> kelly, they're down on a report on investigation saying there's documents that show orders for tesla in china in may cut in half essentially from

18,000 down to 9,800 in terms of vehicle orders they don't go into specifics with the model orders there. they cite the fact that they believe according to information that this is a reflerks of the backlash tesla received in china but again the significance here is that china is the world's largest ev market. 40% of the world's evs sold in china and tesla as a factory there. it's ramping up production and cannot afford a prolonged stretch where orders fall but according to the information may orders for tesla in china down 40%. >> strange why it would happen all at once. thank you very much for bringing that to us. coming up, florida at odds with a biggest tourism industry he e tas xts.on requirement weavthdeilne

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welcome back, everybody. want the draw your attention to shares of amc look at this reversal after yesterday's monster gain just the shares started negative but they have

climbed throughout the session, turned higher after that share offering was completed and now turned positive. amc up 6.5% at the moment. $66.50 just to reiterate we learned this morning that they completed a share issuance at an average price of $50 those people are already in the green. just a remarkable story. it's highly core lated to the vix and the dow is positive on the session. more next hour on "power lunch." much more on the meme mania from the strategy to the phenomenon getting teens interested in the market don't go anywhere. right after this reak it down. you got your new customers — they get our best deals. you got your existing customers — they also get our best deals. everyone. gets. the deals. questions? got it. but, why did you use a permanent marker?

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it's coming back to you now... real pants. find amex offers to save on the brands you love. one of the many things you can expect when you're with amex. good afternoon welcome to "power lunch. i'm tyler math son with kelly evans. seems like nothing can stop the meme mania amc positive on the day. we'll get a reality check on that stock and looking at the lasting impact this hysteria could have on the market. and the hacks keep coming. food, energy, transportation al