that is the goal of the company. one of his personal goals. it's experimenting with things like the lightning network, but doesn't seem like they're going to move away from ad revenue or take an open sourced bitcoin focused model. seems like an idealistic in some ways backward view of twitter. >> next project. thank you. that does it for the exchange "power lunch" starts right now welcome to "power lunch. here's what's ahead this hour. at&t, peloton, robinhood, all three of them coming under pressure but for different reasons. can they be fixed or should the stocks be nixed? a deep dive into each name housing's one, two, three punch. rising rates, low inventory, sky

high prices. we'll talk to the loan depot about this environment and wall street is watching washington february set to be a big month for policy changes and those changes could ripple through the market kelly. >> we shall be watching all of it stocks are trying to figure out what tone they want to set to kick off february today. we're back into positive territory. just tiny gains so far the nasdaq still town ten. in deal new, scedar fair shares are higher after an offer from sea world, higher by 10% and the cruise line, carnival, royal caribbean, norwegian having a nice day. two-day gains for some of these names. now have the stocks positive for 2022 >> let's kick it off with what we are kcalling fix it or nix it we're looking at three stocks are what chip and jojo gaines

would call fixer uppers. do they have good bones or should investors walk away we've got analysts to talk about at&t, peloton and robinhoot. at&t, the company announcing its spinoff. it is spinning off its warner media division with that move, the company's annual dividend will be cut nearly in half this basically gets at&t out of the entertainment business by undoing its deal four years ago when it bought time warner let's bring in jonathan chaplain, managing partner of new street research on at&t. in the pantheon, and i was there when time warner and aol merged and that may have the apex of the bad deals, this one for at&t was right up there they paid 85 billion for it. about three years ago. they are going to sell warner media for 43 billion

can this stock be saved? >> i think what they're going now is unwinding a series of bad transactions that they've done over the course of the last few years and i think this puts them in a position they haven't been for as long as i've been covering the stock, which is about 20 years so for two decades, this company grew through acquisition and that's where they were focused their assets have been historically undermanaged. that era has come to an end. they're now unwinding the first two big deals. first, directv and now, warner media. and now they've got nothing to do but focus on their core businesses and since they announced their intention to sell warner media, i think you can see a turnaround just starting to take shape in the core businesses. wireless had their best year in a very, very long time in 2021

door business is really starting to take off. i think this is a new beginning for at&t >> so better for them, even at the expense of cutting a dividend, which is one of the reasons people buy at&t, you think this is the first chapter, maybe, in a fixer upper situation? >> exactly what they needed to do to turn the business around was to invest they needed to put a lot of money into spectrum. they needed to put money into broadband infrastructure and in order to do that, they needed to cut the dividend a dividend's great they weren't getting credit for the dividend anyway. the yield i think was the highest in the s&p for years and years. so it was, you know, money going out the door that they could have been investing in the business and now finally they're doing the right thing. they're putting themselves into a position to invest and compete. >> back to the basics. jonathan, thank you for your advice today

>> and we'll turn now to peloton, which has a host of issues itself. let's start with ceo, john foley. an activist investor says he should be fired. that was before yesterday's report from lauren thomas saying they slashed prices for their apparel unit they've been on the wrong side of publicity with mr. big dying after using the bike, but their biggest problem might be outsized expectations from the pandemic the company cutting production because demand isn't strong enough the stock down 80% from its 52-week high dan, fix it, nix it? >> oh, yeah, you fix it. quite frankly, i think it's an easy fix all you need to do is separate the two businesses equipment from subscriptions and you spin off subscriptions and you can get between 55 and 80 bucks a

share. they reannounced the quarter, it wasn't a disaster as people feared i think it's an easy fix >> i don't know how easy that is to spin off subscription basically would suggest that just the monthly you know, fee people are paying can live independently of the rest of the business >> i think that's the case we've seen historically incredibly low churn, even most recently when fears and concerns were looming that subscribers were churning. you had all this negative press and yet churn came in less than 80 basis points. less than eight tenths of one percent. with such a loyal customer base, such a loyal subscriber base, you could easily spin off the equipment business, maybe license it out for some kind of fee, but embrace an asset like strategy and really just milk

the cash cow of the subscriptions. >> very, very interesting. so we should note your price target is $90 here so even if they pursue what you're recommending, how quickly can the stock go from 27 to that level? >> yeah, sure. our analysis suggests that the subscription business alone is worth about $80 a share. if we were to look at it on a sum of the parts basis, the $10 a share they would get from equipment, probably conservative especially if they were to do, adopt a strategy where they'd be getting some kind of royalty fee from a third party man fufactur on any new equipment sales, but that alone could get you to $90 a share. methodology isn't based on that. >> so you're saying that the subscription business is a con content business and the other side is a manufacturing and gear business say the management doesn't go for your plan and says, no

these are meant to be together we're keeping them together, damnit, and dan adam, get out of here what would you do then >> i think that's assumption we need to go with at this point, which is that you know, business remains as usual in which case they invest in future growth and if you look at the pine line just based on the investments they made to date, not incremental, but to date, we have new category launches in strength, which is the market opportunity in strength is substantially larger than what it is in cardio. so once they start entering that market then you know, you can come up with subscriber numbers that are versus the 2.8 million they ended last quarter with that are substantially higher than that. >> dan, thank you very much. very interesting our last fixer upper is robinhood. in its most recent earnings report, they said revenue fell

from 35% that meme trading boom seems to have petered out an more competition coming from other brokerages joining robinhood with zero commission trades, plus, lingering resentment over how it handled the game stop surge last year joining us now is devin ryan from jmp securities. what do you think? is this a fix or a nix >> we still see a lot of opportunity here and a pretty big upside for the stock. first off at the current market cap of about $12 billion, roughly half that's in cash. so they're in a very strong position to invest in their business and also to do m&a. i don't think they're getting a lot of credit for that we all knew trading was going to normalize. anyone who has been bullish on the stock has been saying there's going to be normalization. i think you're seeing that last couple of quarters and i think we're at a more normal level

the next point is i think last time we were on the show here, we were talking about what does the business model look like and we got the most detail from the company about what the next year is going to be and there's a lot coming that represents billions of dollars of incremental revenue potential on a company's basis doing less than $2 billion. they're launching international cr crypto crypto wallet is coming soon they're going to the retirement market $25 million market launching fully securities paid lending. they're launching a new spending product is coming in the next couple of months they've doubled their contracts on crypto trading so even if crypto volumes were cut in half, they'll be flat on crypto revenue. so there's a lot of upside to revenues this this theme of becoming a single money app which has a longer term journey here they gave us the most detail yet on what that game plan looks like >> so basically you're feeling is they have been too dependent

on a single business, which is trading and they've got to diversify away from that i'm curious you would mention the retirement market because boy, i don't think of their native market as having much to do with retirement much more with younger people who may be speculating >> yeah, i think that's a perception that maybe there's been a narrative in the media that isn't necessarily true. they have 23 million customers and you know, very small fraction are actually day trading their accounts they're trying to introduce investors to investing for the first time half of their customers are first time investors and the retirement market is an even bigger market than the taxable trade market so building wealth over time is what the mission here is and that's what all these other products that are coming out are really around. and so the trading is what their initial business is and i think

that's the perception for many of what the company is if it's just a trading platform, then you know, probably isn't a buy. but you know, the products that are all coming to the market here over the next year, many of those are non-trading related. i think that's what they have to execute on for this to work. they're not earning cash and have $6 billion cash on the balance sheet. there's a lot they can do with that that i don't think they're getting a lot of credit for. >> thank you very much appreciate your time today d devin ryan >> were we 3 for 3 on fixes? >> all three we can fix. >> just saying positive attitude. coming up, home depot's profit dropped, rising interest rates creating a big headache. the ceo is here to discuss the pressure building on the business with the shares down 7% today. plus, the fbi opens a new case against chinese intelligence operations every 12

hours. we have details of the fbi director's new cyber warning for corporate america. here's a look at some of the energy names hitting new highs today includg xon inexafter its earnings still up 6%.

check out shares of amc rallying today as the movie theatre operator reports preliminary financial results from its fourth quarter.

the ceo says the company's results improved as 2021 progressed and that the fourth quarter was amc's strongest quarter in two years now that's also giving a boost to other theatre stocks including imax and cinemark and those come alongside other gains in casino operators and cruise lines. so we'll continue keeping an eye on those areas of the market amc off its highs of the session. back to you. >> thank you a disappointing quarter for loan depot profits at the second largest loan bank originator fell about 90% from the prior quarter business coming under pressure from higher rates, so is the stock, which is down about 7% today and down 80% since going public almost a year ago the ceo joins us now with our very own diana olick >> i hate to start with that, but it's been a rough day for the stock. anthony, thanks so much for joining us let's start with the earnings report this morning.

you noted the market, the mortgage market, is under a period of quote, pressure. we know that because rates are going up and it's forecasted there's a 35% drop in originations how does loan depot stomach that >> hi, diana we have to keep in mind we're in an industry that often adjusts rapidly. when your demand changes by 35% year-over-year, you have to be able to be very agile and pivot. that's exactly what the winners in the space is going to do. also post financial crisis or dodd frank if you will, the entry on this new higher level of regulatory oversight is going to be extreme so the total addressable market, although we're getting into a negative trend with lower volumes, it's going to continue to grow because of population growth and average loan amount going up

so the market's just going to get bigger and those that are in the position today, willing to continue to scale, and this is just a great opportunity to continue to grow market share. >> and i was going to get on that you talked so much this morning on the investor call about growing market share, which you did pretty dramatically from 2020 to 2021, but if you have that kind of optimism, where's the disconnect between investors because your stock is not just having a rough day, but a rough year >> we understand the fact that you know, this is very early in the cycle. post financial crisis, again, this is a all new community trying to understand how to evaluate different mortgage companies. different mortgage stocks. so in addition to our $11 trillion of overall industry volume, last year because of low interest rates, the industry broke an all-time record of over $4 trillion of business for adjusting to a forecast of $3 trillion in year

so there's excess capacity in the industry that needs to shrink or adjust down and while that's happening, there's a lot of pressure in the margins because people are becoming very aggressive in their pricing structure, but that is not sustainable. it's going to limit new players from coming in so this is just an adjustment and not anything new unfortunately, but it is part of the natural process and the market just will get larger as we come out to the other side. >> speaking of those margins, obviously you need to protect your expenses. do you foresee, you know, i have to say we did stories, too, even one year ago about so much hiring going on in the mortgage business there were these job fairs do you expect to have to go the other way? job cuts >> the entire industry will have to adjust down when your demand reduces by 35%, something's got to give.

we have the second most notable brand in the industry. we have scale. over 10,000 employees funding 30,000 mortgages a month and we have our own proprietary tech stack we've been building for the last eight years so along with the efficiencies we're gaining and the skill we have and the conversion and the level of customer delight we've been so heavily focused on, what we hope to accomplish through the sickle and what we believe is we increase market share. increase from 2.4% to 2.5% in a single year, the company's only 12 years old and we've grown by over 45% annually year over year we passed wells fargo, an iconic brand to help more customers with mortgages tells you we're doing something right, but this is a no doubt a negative trend in our industry but it is not sustainable and

testit will come back around. >> thank you so much for joining us back to you. >> thank you very much, diana, as well. up next, the spy who worked for me the director warning china's corporate espionage is worse than ever. plus, a metaverse land grab. investors spending millions to buy up virtual property. we'll take a dive into this new reality for real estate. "power lunch" will be right back its innovation organic ingredients and fermentation. fermentation? yes, formulated to help your body really truly absorb the natural goodness. new chapter. wellness well done.

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welcome back here's our cnbc news update at this hour. native american tribes have reached a $590 million opioid settlement with johnson & johnson and the country's three largest drug distributors. according to a court filing, any federally recognized tribe will be able to participate even if it hasn't gone to court. after meeting with boris johnson today, ukraine's leader warned a military conflict with russia could lead to a war in europe pres stewart rhodes will appear virtually tomorrow the founder of the oath keepers

is now in federal custody on seditious conspiracy charges his lawyers say he will invoke his fifth amendment right against self-incrimination and this is different. near miami, cash was flying. a suspect making it rain a 20-minute standoff with police who had boxed in a bank robbery suspect. threw handfuls of cash out of the truck. he eventually got out and surrendered peacefully not exactly sure what he thought that was going to do >> looks pretty boxed in there, i would say. wouldn't you >> yeah, he looks pretty boxed in and he's making it rain >> yeah, making it rain. >> yeah. >> well. enjoy whenever you're going next, sir, or lady thanks while many business rs still trying to fend off cyber attacks from russia, the fbi is warning

also to be on the lookout for spies from china eamon javers joins us with more. >> hey there, tyler. christopher wray used his speech last night to spotlight a threat from chinese espionage he called more brazen and damaging than ever before. the director said the fbi has more than 2,000 investigations open now into the chinese government trying to steal information or technology. >> there is just no country that presents a broader threat to our ideas, our innovation, and our economic security than china the chinese government steals staggering volumes of information and causes deep, job destroying damage across a wide range of industries. >> he also said the chinese use intelligence officers to target specific information and obtain

it from sources deep inside the companies. he's citing a recent case at ge aviation in which the company was able to stop a penetration effort by an agent of the chinese ministry of state security who was intent on stealing advanced jet technology now despite all this advanced technology that the chinese use in terms of their cyber spies, direct director wray said they use a simple technique to approach sources inside the united states they just go on linkedin >> everybody seems to be there, so it's a natural portal, i suppose, for people to use it. you mentioned the ge case where they were able to intercept one of these attempts. how did they do it >> well, the fbidirector said last night that part of what happened was ge aviation went to the fbi and told them that they had this problem once that cooperation was underway, the fbi was able to give doctored documents to the

ge employee to hand over to the chinese spy. that is to continue to go along with the ruse. the spy thought he was succeeding he was actually getting bogus documents. they were able to arrest him in b brussels he was convicted in november first time an mss officer has ever seen the inside of a u.s. courtroom. >> fascinating thank you very much. still ahead on "power lunch," washington's big february a busy month between growing ukraine tensions, fed nominees, a possible government shutdown, scotus nominees and so much more there's a lot that could impact your money and we'll break it down, next plus, brady's business playbook the lessons we can take away from tom's career. stay with us just 90 minutes

first trading session of february let's get caught up across the markets with watch for out of washington in particular first, check out the major averages now still fighting to be in positive territory. dow's been down 100, up 150. we're at 55 right now. nasdaq is negative by 26 we are seeing a big gain for

ups. take a look at the stock after earnings and revenue jumped. it shipped slightly fewer packages, but price per piece rose one of its best days ever. shares up nearly 14% today to the bond market now, which a saw some action this morning especially after the prices paid index in the ism report. our ten-year jumped. the german ten-year jumped rick santelli, what do you make of it? >> yes, as a matter of fact, if you look at the original 9:00 central two-year chart, you can see the way it did pop on the larger than expected, 76.1 for the january ism as kelly just pointed out. and if you move further down the curve and looked at tens for the week starting on wednesday, you can see that even though it

popped, it really has drifted a bit over the course of the last several sessions now bunds seem to be where some of the biggest selling action was as they post their second positive close in a row as you see on this two-day chart of bunds and if you go back to may of 2019, that was the last time we closed in positive territory. there's something else interesting. if you look at their two-year note, bund's two-year note at minus .48% so just a little bit away from half a percent that's the highest yield close in seven and a half years. we haven't seen a positive since august of 2014, but we will continue to monitor. right now, a two-year note is the only instrument on the entire treasury curve whose price is higher, yield is lower. what an opposite reaction. that's opposite what we've been seeing curve steepening and that occurred after the spike in

yields at 10:00 eastern. >> always exciting to watch. thank you very much. oil is closing for the day as eyes turn to a crucial opec meeting hanging over the market. pippa. >> hey, kelly. crude seesawing between gains and losses ahead of the meeting between opec and its allies tomorrow u.s. oil is up about .10% at $81.21 earlier today, it hit $88.87 brent crude is down. now at tomorrow's meeting, opec and its allies will discuss their march production policy at a time when oil has had a blistering rally, hitting the highest in more than seven years. the group's been increasing production each month by 400,000 barrels per day since august and opinions are mixed on whether they'll stay the course. citi saying they'll likely stick to the schedule. energy stocks shrugging off oil's muted move the group is up more than 3%

leading the s&p. exxon is the top performer gaining more than 6% after earnings the profit beat profit estimates, reported the highest quarterly free cash flow in more than a decade and said debt is back to pre-pandemic levels. the stock had a nearly three-year high there. now we turn to washington where the month of february could be a big one for policy changes and the markets. here with some of the key events to watch is libby from pimco welcome. we've rattled off a bunch of things from another shutdown to the supreme court. what is the first thing you're going to be watching for this month? >> good afternoon, kelly i think this is really, february's going to be very much about pivoting to getting points on the board for democrats after spending sort of a month in disarray in fighting about the filibuster and voting rights, they really are going to try to focus on actually getting legislation passed and signed into law first up is going to be the

house companion version of something called the united states innovation and competition act. basically, a lot of funding for semiconductors, for supply chains and really couched in the context of a competition bill against china. nothing like china and russia bringing the republicans and democrats together so we expect that bill to pass the house and be signed into law as early as march or april but again, the focus really will be trying to get some points on the board and trying to pivot to some things they can actually message in advance >> what about one which is obviously event driven, but the russia sanctions bill, which we've already seen some companies like exxon, a little bit concerned about. >> yeah, so we're expecting likely some sort of compromise between republicans and democrats in the senate on a sanctions bill maybe released, introduced as early as tomorrow or thursday.

likely a combination of export controls of financial sanctions, penalties against putin's inner circle some of these will be sort of preemptive and some of them will be more escalated. i think the point here is that the senate and the house are likely going to want to put their own sort of fingerprints on sanctions bill even though the white house has the ability to administer these sanctions without congressional approval but i think politically speaking, they very much want to have sort of, put their fingerprints on the ultimate sanctions package. z >> are they likely going to get bipartisan support for those sanctions? >> again, this is very much like china, sort of the antipathy for communist russia is very much bipartisan so i think you will, tyler, see

some sort of resolution between the two. there are some sticking points, but again, we think those obstacles are very much surmountable and a bill will likely be released over the next two days or so >> what about the fed? i think technically the fed chair's chairmanship lapses this weekend, but the real question is about some of the other slots they're trying to fill >> that's right. so you know, what chairman brown has indicated is he's going to group all of the fed nominees together of course powell and brainard were on the hill for their confirmation hearings. we have three other fed governors, the vice chair of nominees on the hill this week and will all likely sort of be coupled together for one vote. it looks like mid february at a com committee then likely confirm bid the full senate end of february or march.

just a lot of activity on the hill but encoupling all of those fed nominees together. >> yeah. and you think sort of the whole build back better thing takes a backseat for now government runs out of money february 18th, but hopefully not a shutdown these are just, oh, and this is happening. >> neither side is -- to shut down we still think some version of build back better gets passed. but we still think some version gets passed, but for now, not likely until april or may or the summer >> great to have you thank you for your time. >> washington playbook for you ea set to report results after the bell the industry has become a whole new game as droppers, publishers, console makers are buying up competition and consolidating. we're going to take a look at what to expect next.

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69 billion and just yesterday, sony announced it's buying bungi. so what should investors watch in ea's earnings hey, julia >> well, the activision deal may have sparked interest, but ea shares are still down 11%. the key issue is the performance of battlefield 2042. it's among their biggest release in years, but a release which was delayed by a month before it launched in november investors are also looking for what's next after last eek, th company announced that three star wars games are in the works. analysts are projecting the company will grow its revenue to $2.7 million while earnings per share are expected to grow 5% to $3.22 per share. trimming estimates ahead of earnings as it reduces

battlefield receptions after what it calls a disappointing launch of the game, but eric handler saying quote, in the wake of microsoft's proposed acquisition and a potential domino effect for an industry seeing expansion, ea could find itself a takeout candidate now going into earnings, three quarters of analysts have a buy rating, a quarter have a hold and there are no sell ratings. >> who would the likely buyers be microsoft jumped in a couple of weeks ago. >> well that's the thing it's like now that we've seen microsoft and sony make these ak by by sagss, the question is could we see another tech giant or even say a netflix, which has expressed its interest in gaming, try to go in this direction. i think it is still unlikely to see something like that. you have to look at companies like apple that have so much cash on hand and wonder where do

they want to bolster their content assets and that would be an opportunity here. also companies like amazon are interested in gaming as well so there are plenty of tech giants interested in gaming and now the question is who might be most interested in ea. >> thank you very much ju coming up, a working lunch with the ceo of calandy. scoring $3a billion valuation and some controversy along the way. we're back in a moment

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until tiktok amazon solved e-commerce before shopify, so what about the process for finding time on the calendar for that important call jon fortt has more with the ceo who is working that problem with a $3 billion startup, not a company i knew about, but apparently, one you know and use. >> yes, indeed, tyler. now you might have heard about calendly last week when a twitter rant bashing the scheduling startup went viral when users defended it not only do i happen to use calendly, i caught up with the founder and ceo.

as you might expect, he's lived life a bit ahead of schedule he grew up in nigeria where he went to high school two years early and had to learn to socialize when he didn't fit in. >> my mom was a really, really strict person so as soon as school was over, i went home and stayed home and played in the neighborhood with my neighborhood kids, but i wasn't allowed to go to parties with my school friends i think what it just gave me is just, i had to rely on, i had to rely on you know, charisma, maybe a little bit of a sense of humor to become friends with people who were two years older than me and not get bullied because it would have been easy to do that >> yeah, 12, 13, can't go to high school parties. after he graduated, the family moved to the u.s., atlanta that's where calendly is now based, but over the last couple of years, it's also become a remote first company you might think that's great

because employees get to live in more convenient, inexpensive places, but get ready to have your mind blown. he told me it's really great because now he can hire talent in the most expensive places >> there's not a lot of growth companies that have successfully scaled in atlanta so when you get into the hundreds ofinto the hundreds of millions of users and you're scaling the business, there's not many people who have done it in scale in atlanta, so you have to go to places like san francisco to get those people to come to atlanta. and what those people used to make before we became a remote company, what if i move my entire life and family to atlanta and for whatever reason it doesn't work out? what other company in atlanta can i work for and so while atlanta itself is not -- it's a great city the calculation they're making is if for whatever reason it doesn't work for me, where else can i work there it becomes difficult to convince people >> so, you thought online

calendars were solved, think again. you thought remote first was for hiring talent outside of the tech hubs, think again >> i love this so much what you described is so great for innovation and productivity in the long run and for cities like atlanta and being a startup anywhere and redistributing some of that across the country but jon, i have used calendly a bunch and i love it, but if you do it in a condescending way, it can come off harsh >> the first time i used it, or clicked on somebody's link, this entrepreneur steven wolfe pereira, who we had on "power lunch" and the exchange before, i thought at first it was weird. wait, i click a link and i schedule myself, but then i realized i'm scheduling myself this is great. >> is there a pro version you use? what are we all missing out on >> yes, there is a paid version and it allows you to sync to your calendars and create different openings in your

calendar for different types -- i use it to schedule my fortt knox interviews. >> fundamentally, it invites you to look at my calendar and schedule your session with me on your terms >> yes >> at a time you like. don't other programs do fundamentally the same thing like outlook and others, or do they not do it as well >> yeah, but that only works if both of you are using outlook and the same versions and kind of a shared calendar this actually works across different types of calendaring apps and it allows you more granularity to say here are different days and times, here are days i'm not available there's an interface he's gone deep into it >> it's really taken off >> i'm going to have to look it up >> we'll send you a calendly for

the next working lunch >> i don't know if it respond to that >> probably can't respond. thanks, jon. >> thank you still to come, meta mortgages, the nation's top luxury brokers brokering land deals in the metaverse we have the details next this... is the planning effect. this is how it feels to know you have a wealth plan that covers everything that's important to you. this is what it's like to have a dedicated fidelity advisor looking at your full financial picture. making sure you have the right balance of risk and reward. and helping you plan for future generations. this is "the planning effect" from fidelity. you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

welcome back, everybody. quick headline from st. louis fed president james bullard

speaking with reuters right now. he favors lifting rates at the march meeting and likely again in may he added he thinks the market pricing in five hikes this year is, quote, not too bad a bet markets up 76. >> our next story may be hard for some of you to wrap your heads around, but people are spending millions of dollars for virtual real estate. there's a met averse land grab going on and robert frank is here to break it down for us >> sales of virtual land really taking off after facebook's meta anonouncement back in october deals topping $500 million last year, most in the fourth quarter after facebook's big rebranding. analysts say that based on current sales, this year could see up to $1 billion in virtual land deals now, investors, startups, big brands all hoping to get in on the ground floor of what they hope will be the next manhattan or monaco of the metaverse a collection of parcels in the sandbox that is over $4.3

million. republic realm is developing 100 fantasy ilnldz they originally sold the first patch for $15,000. they just resold one for $270,000 now, tokens.com, they're a canadian firm, just paid over $2 million for a plot in decentral land's fashion land. they're going to lease that space to big apparel and luxury brands just as in the real world, it's all about location prices near decentral land's dragon city, their vegas city, and red light district are the most expensive whensandbox, the big draw is snoop dogg, land near his upcoming mansion sold for over $500,000. you have atari betting on a big second act they're hoping to become the biggest landlord with a planned development of houses, casinos a parcel near atari's development selling for $840,000 so unreal prices for unreal real

estate >> this is metaversal real estate, not real >> metaversal real estate. >> so robert, obviously, just like in the real world, some online metaverses will become more valuable than others. the real question is, is everyone just doubling down on this one we haven't seen the launch of everyone else who aspires to have one >> there are dozens of new metaverse platforms being laulaunch ed every week that's the question is it one, five, three, and which ones become the biggest? >> robert, thank you robert frank >> the next guy we're going to talk about seems to understand crypto he probably understands the metaverse, after more than two decades in the nfl, which he certainly understands, tom brady announcing his retirement, widely considered the greatest quarterback, i would say the greatest player to ever play the game he won seven super bowl titles, three mvp awards and plenty of

business lessons, i think, to learn from him the first one that comes to mind is never underestimate the underestimated because remember, he was a sixth round draft pick that no one knew and no one thought he was going to amount to really anything he was slow. he didn't have the biggest arm but he had the biggest heart and the most fire and was the hardest worker >> it would have been hard to know back then on paper, but look what he's done. >> i think another lesson that stands out to me apart from developing a strong brand, which he has become, he is a personal brand. he and his wife are personal brands is the captivating nature of sustainable excellence and he has been in a business where the average career is about three years. >> right >> he's done it 22 years and he's done it extraordinarily well that's what makes him such a captivating personality, a

salable personality, and potentially with lots of big things in his future >> it's becoming more common he's doing it, lebron james is doing it, playing so well for so long >> sustainable excellence. that's what the best businesses have i don't care which one it is where it is. it's sustainable excellence. >> "power lunch. >> sustainsustainable. >> thanks for watching "closing bell" starts right now. >> sustainable excellence, tyler mathisen would know about that no doubt about it. welcome to "closing bell," everyone i'm wilfred frost at the new york stock exchange. a decidedly calmer start to february after a wild month of trading. small caps outperforming as we head into the final hour of trade. >> i'm sara eisen. let's look at what's driving the actions. earnings remain top of mind. u.p.s. and xm mobile leisure and travel stocks. cruises and airlines are higher, and casinos, theme parks,