but there's a possibility there will be gasoline, there definitely will be diesel shortages in parts of the northeast this summer. there's a good chance you can go to the gas station and they just won't have it. i'm not saying it will happen but it's a darn good chance. >> i think people are becoming accustomed to these new realities. thank you, brian sullivan, we appreciate it very much. even as oil is moving higher, we've seen gold, silver and copper registering big declines this week are those a bullish sign for inflation? we'll discuss what all of this means on "power lunch" which begins right now welcome, everybody, to "power lunch." two hours of trading left for the week i'm tyler mathisen, here's what's ahead on this busy hour markets ending a lousy week with a strong bounce-back the nasdaq up 3% is it just a head fake, though, a bear market bounce or the sign that we have hit a bottom and the coast is if not clear,

clearing to buy now. bitcoin also rebounding today after a very brutal stretch. all the cryptos are. we'll talk to a man who told us last year that half of his wealth is tied up in crypto. so how's he been feeling these past few weeks kelly. >> hi, everybody markets are firmly in the green as we head into the final couple of hours of the week but it's not enough to offset the big declines we've seen. the nasdaq still the strongest, up 3% as rates rebound, but still down 3.5% on the week even with today's move and still down 25% from its all-time high casinos are the biggest gainers on the day with wynn, las vegas sands and caesars seeing nice jumps. many of the names hit hardest monday through thursday are leading the rebound today, names like carvana, rivian, upstart, which is up about 10% today. still down 50% for the week. coming up in three stock lunch,

we'll ask our trader if today's gains, tyler, are now a green light to buy. the volatility continuing today, as kelly mentioned. the nasdaq up 4% today, but this week i'm looking at it, up 3.05. still down for the week by about 3% so is a bottom forming or is it just a bounce let's talk to ron insana, and serat is portfolio manager at dcla, also a cnbc contributor. ron, as you look at this week, i know you're a student of market history. what in the price action, the volatility, the ups and downs, what is it telling you >> tyler, i think these are bear market rallies until proven otherwise. you get these big snapbacks. kelly was pointing to stocks that have done extremely well today but there's probably a lot

of short covering going on the fed is still raising interest rates there's no change in that. i don't know of a bear market that ends while the fed is in the middle of a tightening cycle. usually the market has to be convinced that the fed is coming to the end of that cycle and we still have the other factors like russia and china's lockdown to contendi with. my guess is this is a bear market bounce until proven otherwise. >> ron makes the point that you don't fight it on the way up and don't fight when it goes down. do you agree with that and the idea that you can't be confident that the market is bottoming until you start to see some signal that the fed is stopping its tightening cycle, that's number one but even if you buy that, that doesn't mean there aren't things to nibble at today >> i agree with that ron is right, we are in the middle or early stage, we don't

know we do know rates will go up, quantitative easing is coming off the table. it's impossible to time the market we're off 16% of the highs the p multiple of the market is still pretty high but absolutely there are companies that have come down a lot more than the market has if you're going to buy companies just like you did in 2020, you start buying them now or nibbling at really high companies, you can dollar cost average in i'm not saying put all of your capital in now, but the whole last week we had before. >> i'm going to come back and get a couple of those names in just a moment but before i do that i want to turn back to ron and ask you, ron, what you think of crypto right now? >> same thing i've thought of it all along. maybe one still a solution in search of a problem. two, far more levered than some people would have realized,

particularly when it comes to these algorithmically stablecoins. at the end of the day regulation will come. i've got a 20-year-old son who's trading it for fun and potentially profit i encourage him to to learn what it's like to see things go up and down just as a learning experience. look, i still don't understand the use case i have been a billion percent wrong on price but aside from -- listen, radical shifts in payment systems, the important and transformational features of the blockchain itself, those things are all important. the 12,000 cryptocurrencies or crypto assets or whatever they are that exist, look, if you didn't see this coming, you kind of had to be blind that's true for the bear market and stocks, the bear market and meme stocks. you recall that i got into a high-profile twitter war a

couple years ago about day trading and thought it was a bad idea still do i think you just have to be careful with the stuff you have to be a pro to make money in something this volatile. >> well, i wish your son good luck i think there is value in pain and you're letting him experience that. sarat, let's turn back to a couple of stocks that you call buys right now i've sort of been surprised at the dearth of buyers or advocates for disney but you are one of them. >> i am. and i'm looking out a couple years. this was a classic pandemic to endemic reopening story. and now what is everybody focused on the streaming war. but if you look at the parks' business, you look at the flywheel they have there, the demand is far outstripping the supply people wanting to go out they want to go. they're spending 40% than they did before the stock is expected to earn

without the streaming $6 in 12 months that's a 16 multiple on a stock that is hugely cash flow what did they do during the pandemic they reinvested back in the business i love companies that do that. and i think longer term when we're all out and about as we're starting to be, you've got a call option for free on streaming. i think everybody understands after netflix it's got to be rationalized you're negative value if you spend too much money so i think you've got a stock here that's back to pre-pandemic levels in five years you haven't made any money in disney. look at the content, the evergreen content that they have so much of that does not have to be recreated. >> and a new business line from where they were five years ago that is generating revenue give me a quick thought on blackstone, the private equity and money management company. >> you've got almost a trillion dollar money management firm sitting on a couple hundred

billion of dry powder. at the same time, they raised about 300 billion perpetual capital. what does blackstone love? they love opportunities when things are out of favor. they love real estate. they love deploying capital where you you have a lot of consumers looking for yield, they want private eng wiquity. they have the best professionals around it's off 40% of its peak in 2021 so you can take advantage of owning blackstone even if you think the markets are going to be up and down and we're in a bear market because the blackstones are sitting there with great admonition. >> you like the jockeys, you love the horse sarat, thank you ron -- go ahead, ron. >> number one, private equity firms should be selling real estate to individuals because they're holding supply off the market by being renters instead of sellers number two, just with respect to the market overall, usually the

bear market you get a momentum low and price low. i talked to my old friend who trained at the knee of a famous technical analyst. in 2008 the market's momentum low occurred in october. the price low occurred in march of 2009. so it might be a script to follow here. >> all right, ron, sarat, thank you very much. good weekend to both of you. just heard the bear case on crypto now here's the bull. call it a crash, a collapse, a reset or a setback it's been a rough week for all of the cryptos despite being higher today, bitcoin and ether are having their worst week in a year the stablecoin tether on pace for its worst week in more than a year after dropping below its dollar peg joining us is lou kerner was it 100,000 or a million that was your price target for bitcoin. >> it's a million dollar price target in 2031. >> for all of those who say the

closest we'll get is 62,000 last year, what's your response >> look, they might be right, but i don't think so if you telescope out, bitcoin has been the greatest investment opportunity in our lifetime. i believe that it's just begun you take a look at the usage of bitcoin, the number of bitcoin wallets that we've seen, it's growing dramatically bitcoin is obviously just one of many use cases of cryptocurrencies that are going to change the world far beyond anybody's expectations. >> so far if we've learned anything about bitcoin, it's that it likes super negative real interest rates, it loves stimulus, and when should we expect those macro conditions to rear their head again? >> well, i think what bitcoin loves more is decentralization and community. what we just saw happen in the crypto world is an unbacked

security, or what people thought might have been a stablecoin, but it was unbacked. and eventually unbacked things that people don't have natural demand forego to zero. the u.s. dollar is another unbacked thing that people like myself who believe in bitcoin think that we're going to see dramatic declines in the dollar over time. the one thing that we can actually have faith in and believe in is bitcoin, because we know how many there are. >> we know how many there are, but it's not like you need one full bitcoin to transact in bitcoin. so it can have a use case, but why do you think that's going to support the price itself going significantly higher from here and have you made any changes yourself a big part of your net worth is tied up in this. >> sure, sure. i haven't made any changes because nothing in my world view has changed. the price is going up and down it doesn't mean that anything has fundamentally changed. the last big call that i had

before bitcoin was facebook. i got in a 6, roadde it to 41, wepgt down to 15 and went over 300. you would expect large downdrafts in bitcoin when the upsides are so huge. >> let me ask you about stablecoins. do you view all of the leverage in the system, the stablecoins breaking the buck as emblematic of a problem in crypto that needs to be corrected in order for a healthier ecosystem to emerge or how would you categorize the strains we've been seeing. >> i think it depends on how much freedom you think people should have with their money with terra, a lot of people called it a ponzi scheme they were transparent in what they were doing. if people wanted to believe in the religion of do kwan, they

should there's 6 billion dye out there. maker has been up over the last week in a devastated market because people have realized maybe it's better to own something that has backing in a stablecoin by the way, there have been algorithmic stablecoins that have done really well. >> he is not giving one inch, not on stablecoin, not on bitcoin, not on nothing. lou kerner, a partner with blockchain. coming up on "power lunch" gold down 4% this week that's a big drop for what's supposed to be a safety asset. if gold is dropping while rates are rising and markets are fluctuating, when will people buy gold we will dig into the metals meltdown and the latest musk/twitter drama it's musk-see tv the stock falling today as musk casts doubt on the deal in a tweet. will it eventually get done?

and we are continuing to watch this big rebound at the end of a big week. shares of apple back today but still down 4% on the week. and also take a look at the dow. we're way off the highs. it had been up 545 at the high now up about 211 ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq

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welcome back to "power lunch. rough week for the metal silver, down 6%. gold hitting its lowest level since february copper which is seen as an economic bellwether hitting its lowest level back to september of last yoear. platinum on pace for its first negative week in three weeks what does all of this signal and is there any upside? philip st recreibel focuses on metals futures good to have you with us let's start with gold. what's its problem >> if you look at gold, i don't necessarily believe it has a problem just because it violated $1800. it is a little bit on a psychological level alarming but if you look at the performance of gold over the course of the year, it's about unchanged and outperformed many other asset classes.

i'd rather own gold. the problem that gold is having is that it is strongly correlated to other metals like silver and also correlated to other asset classes that many people, they go into cryptocurrencies, they hold that as your safe haven, they're trying to look for a decentralized safe haven asset many of those same people have the same mentality that holds gold and silver. so when you get a collapse in crypto, a lot of times that spillover effect hits the silver and hits gold. >> could we possibly call up a 10-year chart of gold versus the s&p 500? i think we did this last week and gold actually outperformed the s&p if i recall correctly. i'm not sure they're grabbing it, they say. is gold an inflation hedge or not, phil? >> it depends on the economic environment. if you have inflation rising and

you have growth slowing, that's going to create a perfect stagflation scenario for gold. that's why gold did good in the third quarter. then you go into an inflation trade where inflation goes up and gold goes up, your best asset class to own is crude oil, gasoline or any technology-based stock. so it all depends on the current economic environment you know, what we're looking at on gold specifically right now, the fed is going to get past these next two 50 basis point rate hikes at that point in time they'll have defeated inflation and start to look at the carnage that they created in the housing market and stock market and pivot to dovish and that's where gold gets its tailwind. >> i have to confess that i was completely wrong that gold beat the s&p 500. i'm not sure what i was thinking maybe it was a 300-year chart or something like that. i was completely wrong on that the s&p has whipped gold's

patootie why don't we move on to copper, then, which is obviously an economically sensitive item. >> yeah. if you look at copper, there's a couple of key themes you have to look at. what the catalyst that's driving the price action obviously the biggest discussion right now is inflation the u.s. is raising rates to combat that. other countries like china, which consumes 54% of the world's copper, they are using lockdowns as their method. remember, they can't raise rates because they'll increase borrowing costs. you've already seen their fourth largest property builder start to default on its debt they can't raise rates as all. they use the lockdowns as their tool and that will drive down demand and drive down commodity prices copper is one of those industrial materials that's sold off with that news. >> phil, thanks very much. we appreciate your time today. >> thank you. >> amazing to see copper now down on the year. still ahead, turmoil

turn-around. some of the biggest laggards on the nasdaq this year could be poised to see major comebacks. which one? we'll weigh them out. plus during may we're celebration asian american and pacific islander heritage, featuring some of our teammates and contributors here is cnbc producer crystal lau. >> my best advice for the asian american community is to speak up growing up my parents taught me and my sisters not to be the squeaky wheel. but what we've learned over the years is how important it is to find our voice and to be the voice for others speaking out against injustices in our community and advocating for yourself at work, whether it's during a contract negotiation or making sure your opinions are heard to the furgeraonspk ute neti, eaup ... thiske forev—or not. do i just focus on when things don't work, and not appreciate when they do? i love it when work actually works! i just booked this parking spot... this desk... and this conference room!

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time for our etf tracker of the week we look at the bond market etfs. persistent inflation means that the fed is likely has to stay the course on rate hikes that's not necessarily good for the value for the total return of those funds, but nevertheless as interest rates rise, so do the yields

stock market volatility sending some investors into bonds obviously for safety let's check some of the bond etfs beginning with the tlt. ishares 20 plus-year treasury bond etf and vanguard's up more than 2%. these are today's quotes there, despite pulling back today this data comes from our partners at track insight. more information available on the ft wilshire etf hub. bonds down today but a little higher for the week. let's get to frank holland for the cnbc news update. >> here's your cnbc news update at this hour the president of the united arab emirates has died at 73 years old. the uae's ministry of presidential affairs is announcing a 40-day period of mourning and three-day suspension of work his brother is in line to inherit the top post north korean leader kim

jong-un held a meeting at an anti-virus center after his country reports six deaths after its first outbreak hundreds of thousands of people fell ill the true scale of this outbreak is still unclear 11 people died thursday after a boat believed to be carrying dozens of migrants capsized off the coast of puerto rico the u.s. coast guard rescued 38 survivors from the suspected illegal voyage after a border protection helicopter spotted the boat late thursday morning. and the fda will announce its baby formula import strategy next week. they are planning to work with infant formula makers to ensure the product brought in from overseas meets safety standards. the fda chief saying these efforts should dramatically improve the u.s. supply in just a matter of weeks. that's the very latest tyler and kelly, back over to you. and ahead on "power lunch" elon musk seems to be playing his own game of cat and mouse with twitter musk putting the deal on hold

pending details on what he calls fake accounts. what it means for his takeover and the future of this struggling company speaking of games, from the metaverse to consolidation to a battle for content the gaming world on the verge of a major shift. we'll look at what it means for the stocks which have suffered a lot this year with the former ceo of nintendo. "power lunch" back in two with the nasdaq trying to lead th meckod up 2.5%

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and the nasdaq was up 486. every sector is in the green today led by energy, also discretion naeary and technology the laggards are utilities and consumer staples we've got a lot of stocks on the move in a very big way so start with the big gains for las vegas sands and wynn resorts that's due in large part to some of that optimism that lockdowns in china will ease in the coming days, especially in major cities like shanghai. traveling more broadly higher. names like norwegian cruises, carnival, royal caribbean, american airlines, united. also keep an eye on the semiconductor stocks look at names like nvidia, amd, lamb research, micron. all of them have been on decent slides of course there is the downside with twitter the biggest drop byfar in the

s&p 500 on that renewed skepticism over elon musk's takeover of the social media company. so, so many names to track, we're trying to track them all i'll send it back to you. >> we'll have more on twitter in just a moment. now to the bond market where yields are moving higher again rick santelli has more for us. rick. >> yes, what a week, whether you looked at inflation receding but sticky and high or the university of michigan at an 11-year low with no shortage of volatility here's a one week of 10s we're up eight basis points on the day but down 21 basis points on the week. if you look at three months to 10-year, you know, that recession curve spread well, just about a week ago, it was the widest it's been in seven years at 2.29. look at the week, what happened? it's now on pace for minus 33, meaning a flattening of 33 basis points that is huge and if we look at bunds overseas, their 10-year, it

closed up for the day but down 18 basis points for the week last friday was the cycle high on most of these interest rates, whether in the u.s. or europe. everybody az bit nervous about credit these days and rightfully so it seems as though our chairman of the federal reserve, no matter what stocks are going to do, is going to zero in on trying to combat inflation to that end look at the year to date on the high yield of barclay spreads. investment grade much better behaved, it's still narrow, tighter spreads than it was at its peaks in march that's something to pay close attention to kelly, back to you. >> absolutely a key signal rick, thank you very much. now let's head to the villain, unless you're an energy investor the commodities complex has oil in the green but pippa stevens, gasoline prices just keep going up. >> yeah, today's gain is pushing u.s. oil into the green for the

week, the third straight week of gains. now, the eu is still mulling a ban on russian energy, but starting sunday there are some new restrictions traders will no longer be permitted to purchase state-owned russian oil unless strictly necessary so let's check on prices wti at 110.33, brent crude at 111.42, both up around 4%. i do want to focus on gasoline futures which are up 4%, hitting a record high today, and that does not bode well for prices at the pump with just two weeks before the busy summer driving season begins. the national average for a gallon of gas hit a new high in each of the last four days and now stands at $4.43 according to aaa. bob yeager noting that inventory has fallen over the last 13 weeks at a time when it's usually increasing ahead of driving season he said, kelly, that the national average could be heading towards six bucks. back to you. >> he said $6? >> yes

and it's already there in some places look at california, they are already seeing that $6 level. >> wow, pippa stevens. can't say thank you for that. let's get to the stock story of the day now shares of twitter are falling, although they're off the lows, as the drama between the company and elon musk continues. first musk tweets the deal is on hold depending on details on how many fake accounts there are and then he tweets he is still committed to the acquisition twitter is still down about 10% right now. let's bring in ann berry, the cio of wheelhouse capital. quite a background in private equity based on your deal experience, what are the next likely moves here what do you think elon musk is up to? >> kelly, bluntly put, the math on the twitter deal just doesn't work when you look at the amount of debt that he's had to line up and the more structured financing he's been going for private equity or other kinds of debt or hybrid financing, there's just not enough cash generated by twitter to support

the cap structure at that $54 plus a share that he's put forward. to me this is a negotiating tactic that top level bid has to come down and evening he's playing for time and playing for value >> you know, he could say, okay, the deal will be done as 44.20 as our alex sherman has reported, maybe twitter sues him if he tries to back out or renegotiate the deal as we know, musk doesn't care about the traditional way that deals are getting done here. so if this is about a lower price, is there really any way that we would avoid that outcome? >> well, kelly, in any deal, whether you're buying a house or buying a company and whether that's in the private or in the public market, negotiating by finding diligent outs is pretty much par for the course. the fact that elon musk is coming forward and saying there are some holes in the operations that are causing me to pause i don't find particularly surprising

frankly i'm surprised it didn't happen a little sooner he's also honing in on a piece of information that twitter has put out around bots. for the last two or so years when you look in their public filings. i do think this is posturing i think there's a chance he still wants to buy this business i do think this is a price negotiating tactic i still believe he will walk away if ultimately he doesn't get this because i don't think he can get the capital at the value he's looking at. he'll have to get it down or get out. >> so you think ultimately he is likely to have to walk away. i think i just heard you say that and there is, oh, by the way, the not insignificant fact that tesla's own stock has fallen dramatically by 25%. so he is a quarter less rich than he was and that stock is moving lower, so he's going to have to liquidate more shares to contribute to the deal, right? >> tyler, i think that's a very meaningful point if you look at the financing that elon musk had teed up for

this bid, roughly $12.5 billion of debt financing was collateralized by his tesla stock. that is a huge amount of leverage that was initially lined up at a point that the tesla share price was higher so this idea that he's going to multi task, the idea that he is splitting his time potentially as an interim ceo at twitter on top of running the golden goose that is tesla, clearly tesla shareholders aren't buying into that and that impacts directly his ability to get that financing at an attractive term for twitter. i think it must be nerve racking for elon musk right now. >> and he's got his space ventures, which seem to be very successful but he is a multi-tasker ann, thank you very much good to see you pack during the week again. >> thanks, tyler. >> you bet. coming up, video game stocks sinking this year, so what is fueling those declines and could the industry be on the verge of a major change plus, speaking of a big

change, the ark innovation etf is higher today, still down 50% for the year we'll be right back. hybrid work is here. it's there. it's everywhere. but for someone to be able to work from here, there has to be someone here making sure everything is safe. secure. consistent. so log in from here. or here. assured that someone is here ready to fix anything. anytime. anywhere. even here. that's because nobody... and i mean nobody... makes hybrid work, work better.

somethingio kart why the uncertainty? production delays leading to console shortages is one thing publishers pushing back release dates. while the metaverse wants to disrupt the industry, it's facing its own issues. plus growing consolidation, the latest being microsoft in the final steps of its acquisition of activision blizzard to discuss this and more we're joined by reggie, former president and ceo of nintendo north america and author of the new best-selling book, "disrupting the game."

reggie, it is great again to see you. how are you? >> i'm doing great how are you? >> i'm fantastic, sir. so how is the metaverse going to change our lives and affect the gaming industry where you spent most of your career? >> i think there's a lot of different talk around the metaverse and you need to find out what it's going to be. from my perspective, the metaverse is going to be a place where you have digital experiences that also touch on some sort of physical activity it will be a place where you go with your friends and a place where your avatar has meaning. it doesn't quite exist today but a number of companies are making movements to go there. whether you're talking about epic and what they have done with their fortnite video game where they have had real world experiences within that game another company that's making progress in this space is

fortnite with a variety of different experiences coupled with one common currency so the metaverse is a place where you can interact and have fun, but what it is and how it takes shape is going to take years for us all to see. >> it seems as though mr. zuckerberg and the company formerly known as facebook has made a huge bet on the metaverse. they changed their name to meta. is it a wise bet and is the metaverse natively something that plays to facebook's or meta's strength? >> so, look, i've been aggressive in my position that i don't think this plays into their strengths. historically they have not been an innovative company. aside from the very first social network that was created, everything else they have done they have acquired -- >> acquisition, yes. >> so the other piece is from a

physical standpoint, they don't have a great legacy of progress. they believe that vr is going to be a key driver of this metaverse. i don't really believe that. i think ar will be much more the type of experiences we'll have lastly, i do believe a key element in the metaverse will be a common currency. again, this has been a place where meta has tried to make progress but hasn't been effective. and lastly, they don't have really the positive belief and positive feelings by consumers today, given their primary approaches to use your personal information to sell advertising. so i have questions whether they as a company are really going to be the leader in this space. the other companies i mentioned, plus there's a lot of private investment happening to try and figure out exactly what's going to be the best execution to drive this overall metaverse

concept. >> reggie, it's kelly here while we're in the middle of a massive flux in the industry, you have gamestop as the original meme stock. do you see obvious opportunities that it should be chasing right now or do you think it's best crouching on the sidelines, waiting a few years to see how this shakes out and then identifying some future opportunity? >> look, i was very clear that from my perspective, the key advantages that gamestop has, they have a fantastic employee base who are passionate about games. when you would go into a physical store, they would be the ones telling you which consoles to buy, which games to get. they need to find a way to take that and present it in a digital type of experience and leverage that type of passion amongst their employees. they also have to figure out how to monetize digital software sales which is where the consumer is going to get their games. that's where the profitability is for the industry.

until they figure out those things, it's going to be quite challenging for them. >> let's talk a little bit about your book, "disrupting the game." i guess i want to just ask what is the big lesson of it, and the big lesson of your career from the bronx to the top of the industry running nintendo north america or mericas >> well, look, the book is a collection of my personal stories, my life experience. but in each case i button hole every story with a so what a key lesson that anyone can take away, and it's lessons around managing a bad boss it's lessons around how to pivot a business and take what is a declining business and to turn it around. i talk about how to build relationships, because relationships are key for any executive or anyone looking to drive a business forward and so these are the key lessons

that i look to share throughout the book using my own personal experiences as the demonstration, whether it was launching the wii and having that platform generate over 100 million units of hardware, almost a billion pieces of software, or whether it was launching the switch after anyo nintendo had challenges. so these are all of the lessons that i share throughout the book so far the feedback has been incredibly positive. as you mentioned, it's a business best-seller right now. >> reggie, good to see you again and we look forward to seeing what you do next because you're a creative dude. appreciate it. >> thank you after the break, three stocks making a comeback we'll trade names going from laggards to potentially leaders when "power lunch" returns in just a moment. chwork master. but your staffing plan needs to go up a size. you need to hire.

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i'm dan o'dowd and i approved this message. tesla's full self- driving technology. the washington post reported on "owners of teslas fighting for control..." "i'm trying..." watch this tesla "slam into a bike lane bollard..." "oh [bleeped f***]" this one "fails to stop for a pedestrian in a crosswalk." "experts see deep flaws." "that was the worst thing i've ever seen in my life." to stop tesla's full self-driving software... vote dan o'dowd for u.s. senate. it is time now, i know you've been waiting, the three stock lunch. we are on the hunt for a comeback story tracking three stocks that have ripped higher in the past couple of days despite being beaten down over

the course of the year here are the three, olaplex, carvana and teladoc. look at olaplex. are these three stocks throwing us a head fake or should we buy in let's bring in tiffany mcgee for more she's ceo and cio of pivotal advisers and a cnbc contributor. welcome. tiffany, let's start with olaplex. >> hi, tyler. >> a 11% pop in three days following a very rough monday. i had a rough monday too >> yeah, i think we all did. so listen, i tend to look at stocks along the lines of balance sheets and business models ola plex is one i own here i've been using the product for -- gosh, i don't want to date myself. what i really like about this business model is they have proprietary technology i don't know if you get your hair colored but i do and a lot

of people around the world do. everybody knows if you get your hair colored, especially if you are bleaching it, it damages your hair. so olaplex has this technology that bonds your hair a couple of companies have tried to mimic that and nothing really comes close. also the thing i like about their business model is that it really starts with the salon service. so all of the professional hairstylists are using it. but then they had this take-home like number three is what they call it that you have to use after you get your salon service. and now they have expanded their product line they have a couple of skus that are doing well in places like sephora. balance sheet perspective, sales are up 58% in the last quarter they just reported margins 78%. so i think the stock is really inexpensive right now so it's definitely a buy for me if you don't own it. >> well, you've given my secret

up this is how i get my perfect shade of gray here thank you. >> olaplex. >> let's talk carvana, tiffany the stock up, 24% higher than yesterday. what do you do with it >> again, getting back to balance sheets and business models i really leak the business model of carvana but yesterday the stock hits a low and then also in one single session. then look at like the trading volume, right? so the average trading volume is usually around 9 million yesterday was 41 million they had to halt trading four times yesterday. that makes me a little bit nervous. then when you factor in the fact that 30% of their shares are sold short, that really is pushing up in meme stock territory and makes me very uncomfortable. dangerous close to that meme stock territory. and then i really want to stay away from those names so i

wouldn't buy it here. >> let's move up very quickly to teladoc. two days of back-to-back pops, 7% what do you think? >> yeah, well, first of all, it's about time. for those of you who bought teladoc in 2020 and were really excited about it flying high, 2021 was really not a good look for the stock. so i have been right with you along for that ride. so again, from a business model perspective we really like it. it's a leader in telehealth and they know the space really well. but getting to balance sheets really quickly, they have increased their revenue and their users pretty fast. but they actually recorded about a $6.7 billion loss last quarter but i really -- when you pulled back the veil, it was not a cash loss they acquired a company in 2020 and really what this loss was, was something called a good will impairment that refers to the aspects of a

company that really don't show up on a balance sheet. so the value of like the brand or intellectual property so they wrote that down but it really wasn't a cash loss so it's almost -- it's real but not totally real >> an accounting loss. >> it's an accounting loss, yeah. >> tiffany, thank you so much. have a great weekend appreciate it. >> thanks, tyler. >> for more on beaten down names that have bounced back strongly, head to cnbc.com/pro for an exclusive screener. up next, we're continuing to dig for stocks that could be poised for big rebounds. dom has put together a list of s&p laggards that he is putting under the microscope, next from the first-ever triple action sleep supplement... to the only 24-hour vitamin c to heart-healthy support every day. get more with nature's bounty. with directv stream i can get live tv and on demand together: baseball, ghostbusters,

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today's theme in the stock market, what goes down sometimes comes up dom chu is looking at what stocks have had the biggest bounces off the lows. >> within the s&p 500. so let's take a look at this components of the index that hit 52-week lows or worse just this week and have now bounced 10% from those low levels on an intraday basis among the names that pad that screen, check out these because they're brand names we talk about all the time gm shares, 11% off its lows this week netflix is up 12% off its lows this week. under armour up 13%, wynn resorts up 16 and tapestry up 22 by the way, the one stock in the s&p that had the biggest bounce of all of them check out dish network after a

disappointing investor day earlier this week. those shares popped higher by 23% from the lows we saw intraday, guys. >> fascinating stuff it's very interesting to see those things come back some clearly oversold. >> short covering. maybe value investing. who knows. >> have a great weekend, sir thanks for watching "power lunch," everybody. >> "closing bell" starts right now. >> thank you, tyler and kelly. stocks are rallying as the market looks to close out an ugly week on a high note with the nasdaq up more than 3% right now the most important hour of trading starts now welcome to "closing bell." i'm sara eisen there's the nasdaq up 3.5% the dow is up 300 points the high was 545 it looked like we were going to lose the rally but we are climbing s&p 500 up 2%. every sector is green right now. consumer discretionary getting the most love. it's been among the hardest hit. energy is also up there, jumping 3 spoke