okay if you ultimately say we'll not go with frontier and we'll go with jetblue how will it be structured and we'll have to divest even more if it's going to make it to the finish line and a lot of people are questioning if that can happen >> phil, it could be a lot over nothing. we'll see. we very much appreciate following the saga for us, phil lebeau >> we will trade three divisive stocks coming up including twitter in today's three-stock lunch. "power lunch" begins right now ♪ ♪ thanks, kelly. we'll see you in just a bit. welcome to "power lunch. my name is dominic chu filling in for tyler matheson. is it a green light for technology apple, microsoft, alphabet, amazon moving back above their 50-day average prices just this week the names to watch and to own in technology if that trade is, in

fact, back plus, "power lunch's" powerhouse road trip. today's stop is in raleigh, north carolina, where realtors say showings are down and sellers are cutting prices and an on-the-ground view of the fast shifting housing market may be a key to this entire narrative in economics right now. kelly, over to you >> i'm looking forward to you. welcome. >> hi, everybody the major averages are on track despite today's declines and it is down 137 and the s&p down seven and the nasdaq down 20 so small arrows to the down side here some of the best-performing stocks today are in health care and you will see it repeated as the theme, centene, mckesson and molina, and some sectors hitting all-time highs including humana, cigna and eli lilly. we begin with the job market defying recession fears and payrolls and wages are up and growing substantially and that

will likely keep the fed on track for a big hike at the next meeting in a couple of weeks something that the atlanta fed president today said he supports >> the tremendous momentum suggests that we can move 75 basis points at the next meeting and not see a lot of protracted damage to the broader economy. >> our next guest says there are new risks the fed needs to account for that could disrupt its plans. ron insana hadit in an op ed, senior adviser to schroeder's north america. ron, no, no, no, no, you don't, you have to acknowledge it's pretty good. the first half of the year is much better than feared, don't you think? >> with respect to the economy >> sure. >> oh, yeah. kelly, i never suggested that we're currently in the recession. the risk is down the curve and the yield is inappropriately inverted to the ten-year yield

as the person who studied this most closely has pointed out on twitter all day today and the economy is still growing well, gdp is not in real terms, but the job market certainly is. although our colleague sarah eisen pointed out in the household survey, there are 300,000 jobs lost which accounted for the downtick in the overall workforce participation rate so there are a few signs on the horizon. what i'm pointing out is the federal reserve as it continues to raise rates probably needs to take a look at what's happening in europe because they could have a very, very difficult winter that leads to a broad and deep recession that will have some repercussions outside their borders. >> well, they're in a pickle in europe because of russia's invasion of ukraine and their reliance on russia as an energy supplier and to the extent they're left with no other option, slowing demand i.e. rate hikes is one of the other options. >> they also have a double-edged problem right now because the

peripheral countries have an interest rate and they're looking at the europe een central bank on ways to bring inflation down that's higher there than it is here and not put italy, spain, portugal and otherheavily indebted countrie in a bind and create the crisis that we saw in 20 le11 at least out of the corner of one eye the fed ought to look at this field and europe, and this is an ill-used expression, but it's a winter of discontent that's coming and if they are diverting natural gas to homes before they send it to businesses and it's almost the equivalent of a covid lockdown if it happens that way >> ron, this idea and all of the things that we mentioned should be viewed as economic headwinds and not just here, but globally, as well, if you look at the perspective, though, there's been a discussion about whether or not markets have priced in

this economic slowdown and recessions are inevitable and it's just a question of when do the markets have it correct right now? both stock and bond markets and they've sold off fairly decently in expectation of the slowdown >> i'm not that worried with where we are with respect to the stock market we've come down a lot. the nasdaq has gone down sharply and the meme stocks have collapsed and they've been effectively wrong out of the market net-net, a certain portion of that is a good thing the market has discounted a slowdown or what we used to call it growth recession back in the day. i don't think the markets have discounted a decline in corporate earnings for a full-blown recession that drives the unemployment rate that someone like larry summers suggested back to 5% as being a necessary pre-condition for inflation to fall. i don't think the market has discounted anything that dramatic >> yeah. >> so all of this said, ron, we have a ten-year yield that's

poking higher and stocks that are trying to figure out which way to go with it. we rarely get super tactical with you, but is there anything -- health care is the outperformer today. >> right >> what would you do or have investors do with their money here >> cash doesn't hurt you right now and i know people say with inflation at 8% and that's like a tax on your money and it's a sign that the markets are in defensive mode it's not a growth sector, if you will, in the purest sense when it comes to technology you're getting to a close point when you're buying companies at deeply discounted prices i think the fed needs to be extremely careful with this additional three-quarter-point rate cut -- rate hike, pardon me, that's expected later in the month and i still think there should be a stop, look and listen moment for the fed to address what it's got going on, not just domestically and overseas is not the purview and

take into account the headwinds before taking another step because as we've discussed in past weeks we've seen break evens fall dramatically. >> and because of what they're doing. >> i credit them for pushing them -- >> but if they've accomplished their objective, kelly why go farther you're missing 5 million followers, they're not going to print people. >> they have to disrupt job openings because you can't print people. >> to me, wage inflation is starting to come down. so that's less of a pressure on the economy. supply chains will eventually ease again, i go back to the comparison that this is much more like a post-warr environmet than 1966 and the fed won't overdo it. >> to be continued ron, we appreciate you on this friday our ron insana. >> we will continue it right now because what is the biggest risk

to the market? is it recession? is it the inflation story, and how is that changing the way people invest? joining us now is jonathan thomas he's someone who can tell us more about how people are doing it because he's the ceo of american century investments we have -- all right so we are going to try to get jn than thomas -- do we have him back now okay, we do. j.t. is with american century investments and they've got $200 billion in assets under management he's coming to us from the american century championship, the celebrity classic out in south lake tahoe >> jonathan, in years past i've been right there shoulder to shoulder and i wish i was there with you right now, but we just had a big discussion with ron insan a kelly and i about the risks out there. do you think that the recession is coming any time soon? >> yeah, thanks, dom by the way, we miss having you

out here our view, if you looat what happened this morning with the jobs report, i think the market read on that was generally right. the market immediately started to go down which i think people read into it that it gives the fed that economic breathing room to go ahead and raise it to raise the rate [ no audio ] >> yeah. we'll work on getting the jonathan thomas shot out there in south lake tahoe. >> between sun valley and tahoe, all of these beautiful places that people like to go in the summer are not as reliable >> we need the satellites to become more reliable i've been out there with jonathan thomas insouth lake tahoe. it is an amazing, amazing spot >> i'm sure, but internet being what it is. >> the powerhouse road trip, a market once dominated by bidding wars and they are now seeing price cuts wait until you see some of these houses plus the trade on twitter if

elon musk's deal comes undone. it's one of three controversial names and we'll discuss in today's three-stock lunch and three movers as we go to break six flags, we don't talk of it often, down 6% citing, get this, slowing attendance >> i was at a six flags park just this past weekend. >> don't tell ron insana and a bank of america upgrade and owcoa up 17% today "per lunch" comes back in just a moment than just an investor you're an owner. that means that your priorities are ours too. our interactive tools and advice can help you build a future for the ones you love. that's the value of ownership. lemons, lemons, lemons. the world is so full of lemons. when you become an expedia member, you can instantly start saving on your travels. so you can go and see all those lemons, for less.

welcome back to "power lunch," everybody. wer on the next leg of our powerhouse road trip yep, here we are in the rv hitting six cities in the summer to take a look at how the market is changing and we did it last year and it is fun to revisit it with a different market. >> sure. >> today we are in raleigh, north carolina according to zillow's most recent report it is $418,000 inventory is down 10% year over year and over 75% of the homes sold in raleigh still in the top five, and it's been such a strong market and our next guest says things are shifting quickly. jason from north carolina. bidding wars still happening or price cuts what are you seeing? >> i'm seeing both

i am still seeing people competing for opportunities and i'm definitely seeing some price reductions i think it's never been more crucial to price homes appropriately right in line with the comparables so that buyers aren't entering having this fear that they'll have an appraisal shortfall. so i'm definitely seeing 20, 28, 30 days on market and some price reductions >> so, jason, if you're talking about fear of an appraisal shortfall, that implies, that implies that people are still seeking financing, right >> sure. >> mortgage financing to go and buy these properties before the story was about people getting beaten up by institutional buyers and cash buyers and that sort of thing. do you feel as though that dynamic is changing given what we're seeing in interest rates and is home affordability an issue given the monthly issues

that have spiked over the last six months >> i definitely think that it's had some impact. i definitely think when rates go from 3.5 to 5.5% that lessens what someone can afford and increases that monthly payment by hundreds of dollars what i have personally made it my mission is to educate my buyers and encourage them to keep their eye on the endgame, acquiring that piece of real estate when i first entered the business and bought my home it was 7% for my first one. so i definitely think it's calmed things down, the competitiveness and it has required a lot of educating buyers that have kind of been burned and are worn out from the past two to three years of bidding wars >> if i can follow up, jason raleigh, durham is in that research triangle part of north carolina, highly educated

workforce and academic institutions and you can see people relocating with telecommuting and everything else and are you seeing that come into town because they're commuting from somewhere else and they want to live in raleigh and work remotely? >> i still see it. i still see a prevalence from the west migrating mere because, quite frankly, it's so much more affordable and they're coming and making weekend visits and seeing, like, oh, wow. the triangle is a great place to live and then they look at what the cost of a home is here wow! so the cost of living and i -- yes. so i absolutely see it happening dal daily. daily. >> we are seeing homes on your website, $850,000 and people can't get a house like that up

here i wonder where work from home and a couple of data points say that trend is slowing. so we had recruiter.com tell us fewer remote roles are available. the labor department said we're down 7.1% of the workforce working remote and is that going to impact demand for housing and that will be a big driver in the past couple of years >> i don't think so. i really don't think -- the thing that i heard quite frequently in 2020 is we need two home office spaces so we were trying to find a first floor home office and a bonus room so they could have independent conversations and not disturb each other and i don't think that is affecting what i am seeing personally. >> jason dalton, a fascinating story especially in the north carolina real estate market. it's obviously been one of the hottest ones given the work from home given the pandemic.

thank you very much. we appreciate it. >> homebuilders rose in value. look at lennar, pulte group and d.r. horton. the ratios of these stocks are in the single digits right around four. four times next year's earnings. mortgage lenders like rocket companies, loandepot off over the past week and that's off over the past year as we know and rocket remains 50% off yearly high and you kind of keep some of these things in perspective. >> coming up on the show, edgy investments. today's three-stock lunch is taking a shot at some names with strong risk and maybe reward profiles >> plus the economic enigma and the jobs report coming in ceionger than expected to find ressn fears and we will discuss what it all means when "power lunch" returns after this break.

welcome back, everybody. time for our weekly etf tracker. we are following the money and we are looking at biotech this week $142 million of net inflows. like tech, the biotech stocks

have been bouncing back after a rough start to the year and the news that merck is close to a $40 million deal to buy seagen and take over news always a catalyst the gains have been pretty huge. kr cathie woods is up 30% and that's a hefty gain and the genomics and biotech etf is up, and the etf up 5.5% and a nice 5% gain and it indicates that stock selection does matter here more information is available on the ft wilshire etf hub. let's get to seema mody for the cnbc news update. >> kelly, good afternoon here is your cnbc news update at this hour. in a statement, president biden said he was stunned, outraged and deeply saddened by former japanese prime minister shinzo abe's assassination and telling reporters he does not believe it will have an effect on japan's security. >> i tried to put a call in to

the present prime minister, and he was up very late there, and i'll be talking there in the morning. i do not believe it's likely to have, but i don't know yet, likely to have any profound, destabilizing impact on japanese security or japanese solidarity. >> incredibly sad news moving on here, the national institute of health is rolling out one of the largest studies in the world to understand long covid symptoms the study will cost over $1 billion and will follow 40,000 participants for four years and the goal is to identify what the long term symptoms look like in the auto space, ford motor, the company is issuing a recall for 100,000 vehicles for a higher risk and the recall covers 2020 and 2022 model ford escape vehicles. >> seema mody, thank you very

much for that. ahead on "power lunch," the big faang theory and the group left behind on the newest disruptors and are these names becoming a new safety techtrade for some l eadoors and we'lbrk wn those names coming up next

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welcome back we've got a little more than 90 minutes left in the trading day and we want to get you caught up on what's happening with the markets right now. stocks, bonds, commodities wise and the return of that faang trade. so let's begin with the stock side of things lower today, but it's still been a very good week especially for the nasdaq up more than 4% in that timeframe and healthcare is the best performing sector and by the way, the only sector higher on the session, you have united health, mckesson and cvs health and check out what's happening with moderna up 16% just over the course of this week and upstart and wd-40, two stocks in very different industries both getting hammered today after disappointing earnings reports also today, those travel names and think about cruise line operators and casinos and that

sort of thing and they're all lower on the session, as well. now to the bond market and yields are moving higher as the strong bond report means the fed will stay aggressive and the job side of things is getting better and rick santelli and the strong jobs report reverberating big in the market right now >> oh, absolutely. whether it's two year or the 30-year bonds and everything is moving down in price and up in yield and do remember in two and a half weeks, of course, we have the fed meeting and it certainly seems once again, three-quarters of a percent, 75 bases points on the table and the last three days have been a pretty wild ride for treasurys and look at the day of two-year note yields and we've gone from 2.75 to 3.15, 3.15, a huge move, and if you look at one month of tens, you can clearly see that we're starting to get closer to the

intra-thai high that was in 3.5% in mid-june and continue to monitor all that has to do with yield curves because the yield curve spreads as you see on this long, dated ten-year chart going all of the way back 11 years, we'll have the highest weekly close, basically, in nearly 11 years for tens and what it's done is it's starting to flatten out that curve we know that twos to tens is inverted and the rate to monitor is to ten. year, if you look at november of 2020 you will see we're hovering around 122 basis paoints and on month ago, it was 170 basis points, so it is really moving much lower and the last time that it was at zero before inverted was february of 2020, right before covid hit and finally the dollar index, it's been on a tear, why?

because the euro currency is getting socked hard and right now it looks like the best weekly close since october of 2002 back to you, dom >> some of that cast economic data not showing a recession and thanks very much, rick santelli. oil is closing toward day and another gain overall for the crude market pippa stephens pippa? >> not enough to make up for heavy losses earlier in the week that puts crude on track for its third negative week and wto up around 1.05. a couple of key things to watch, president biden headed to the middle east with a stop in saudi arabia and the president has been calling on countries to increase output and saudi arabia, of course, one of the world's largest producers and the de facto producer of opec and it is set to all-important

nord stream 1 pipeline for annual maintenance and this web a routine procedure and this time some are worried the kremlin won't turn the taps on >> it's a volatile trade pippa stephens, thank you very much for that. one of the big markets has been the bounceback on the faang stocks for more on the tech adjacent and whatever you want to call it, let's bring in steve kovac and managing partner and a tech with research and investment-type firm and maybe we'll begin with you, just the setup here, why are people buying tech again. >> i'll tee it up with my boy gene you had amazon up 8% and apple up 5% and netflix which has been beaten up all year up about 2% going into today meta up 5% and it was on pis for its best week

since april 29th and all of those names that we've said have been positive for two out of the last three weeks and as the sell-off continues in the spring people are looking at this name especially apple to see if the rest of the market has bottomed and now everyone is asking, are we there yet >> lots of mixed siggials and the, u pass in theal pabet, and amazon if it hits next spring, but there's optimism for pc leak we saw the analysts this americaning, saying they're opportunity mftic about china knows that there for other things like dell and hh are

anything and i.t. spending will be right for the tech company it is even if the consumer weakens. >> it's an interesting setup overall. let's bring in the next part of this discussion and is the tech sector nearing a bottom? our next guest says it is and that's gene munster. gene, you heard steve's report, and i also harken back to what he just said about whether or not tech spending is still there from jim cramer. i seem to recall an apple analyst at goldman sachs coming out this past week saying that they have to now price in certain parts of a recession possibility and that they have to lower their target price. so is the worst over for tech? >> simply put, i think it is and we've been more than 50% in cash for more than a year. it was a difficult position to be in late last year it's been a better position to be in this year, but we have context to saying, the tech has

bottomed and the bottom is not a single point and it is a forming of a bottom and i think we're in the early stages of that in particular, we've seen positive signs including micron, for example, guiding down by 20% last week and the stock closing down 3% and weave see the hot number a day and the market encouraging to tech. that at the september when the commentary comes out when it comes out for september i would be bracing myself for bad news the smart money would say the commentary is negative about september. i believe most, but not all of that is priced in, and so to finish out the thought, dom, i think we'll hit a bottom probably after this earnings season and part of that is the commentary resets the bar, but more importantly, the market looks six months forward

so the market's mentality especially with big tech is202 and i expect that some of these downward revisions to numbers that we'll see in the next few weeks sets up for an easier bar in 2023. so as you kind of play this forward, think about the bottom forming over the next couple of months and i think 2023 is going to be a great year for tech. i was not saying that a year ago about 2022 >> so if 2023 will be a great year, gene, what's the big deal about what companies are like lie to say and what do you think we're likely to hear >> the important part is resetting that bar, and i think what investors want is for companies to exceed expectations they don't want surprises. so the theory is the september quarter is the first true reset quarter. we've looked at the commentary from companies when they reported their march quarter and

the commentary about the june quarter and we looked at 20 of the top tech companies and of those six they had negative commentary about june and the others had commentary about eastern europe and as far as the macro was six, and i think it will be more like 12 or 20 will have negative commentary and just to answer your question, i see that as a changing moment here and it allows tech investors to take a deep breath and say yes, we've been waiting for these cuts and now the cuts have happened and now we can start fully embracing what should be easier comps in 2023 >> so, gene, one of the reports we did earlier today is the many of the com services names are hovering back to the 50-day average price on a rolling basis and they're holding back positive momentum and we're talking about the apples and the amazons and the alphabets and the meta platforms and the teslas of the world.

do you have some top picks there. is there mega-cap. in the last couple of years we used to call them a safety trade. >> the portfolio should have a balance of the safer ones and to answer your question i kind of do not believe that all tech is created equal when it comes to the safety and the safety experiment that we believe is that ultimately which companies are going to provide earnings upside in early 2023 which are the best positioned big tech companies to do that, and i'll just kind of put tesla on the side and that's down 30% and there's massive upside over the next five years and put that ahead and just think about the core which are the three top? i would put apple, amazon and meta for all different reasons, but the same general principle is earnings upside starting in the march quarter and maybe just

to fill in quickly and the amazon is a big investment phase and they usually will show profitability after that, and i was encouraged to hear commentary frommic z zuckerbergu hiring and that was different language that he's used in the past and that translates to profitability and it will take a few quarters to get there. companies that are strong, apple, amazon, meta, that are thinking more about earnings upside in early 2023 >> gene munster, apple, meta platforms. we'll talk to you soon. >> thank you >> fascinating up next, some econ recon more and more wall street firms talking about recession and the jobs data remains strong when will the data take a turn for the rswot? we'll get insight from maker mark morreal stay with us welcome back to earth. thanks, it was pretty life changing.

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welcome back the june jobs report coming in better than expected 372,000 jobs create, helping to ease those recession fears and while total unemployment held at

3.6% the rate is still higher for blacks and hispanics and the disabled let's get some insight on state of the labor market with mark morial, mayor of new orleans and president of the urban league. it boringly comes down to what the fed should do, but do we have an economy running too hot or too cold and what's the right way to address the problems most consumers are feeling. what are your thoughts >> i think that continuing growth and employment has to be an objective of both monetary and fiscal policy, and i also believe that the fed in its tightening record has to not react and create stagflation while you have high inflation and high unemployment. what these jobs numbers show is

that job creation has been consistent since the end of the covid recession. what the slight growth in the economy shows is consumers not withstanding inflation still have confidence. a comment on the inflation, some of this inflation in the energy markets and say grain and food markets,those are being prompted by international factors and china and ukraine and the like and if they ease a bit and there's a decision about tariffs and our conversation with china, if they ease a bit, perhaps the fears of a recession will also ease i think it's premature to suggest a huge recession i think we've got to be cautious, remain vigilant, but the likelihood is maybe a shallow slowing down of the economy until there's a rebalancing of supply and demand. >> sure. we know it takes years to kind

of get to full employment. we might be there within a few more months at this rate helping all of those categories that i mentioned earlier, but the fed since its 75 basis point hike three weeks ago has seen energy prices and gasoline prices fall anywhere from 15% to 25% and that has to be good news for consumers, don't you think wouldn't that be exactly what people would want the fed to be trying to do here? and i also think it is the intended effect of the fed raising interest rates as they have done. the notion that you expect that it would have an impact on inflation in a short period of time, it appears to have had that impact, but you know, kelly, off of this thought i think it is important that the fed would rethink what its benchmark inflation rate is, whether it should be higher at

3% or 4% one thing that i'm concerned about is the balance between wage inflation and price inflation because for a long time the cost of living went up, but wages were stagnant and so the american worker and the american consumer, it's the relationship between the two that really, really counts if we're going to have a healthy, growing economy that benefits everyone in the future mark, it's dom you mentioned this -- >> hi, dom you mentioned this inclusive element to make sure our economic recovery is now and in the future taking hold and bringing more people into the fold and i wonder from a policy standpoint there's not much that you can argue that the fed can do on that particular front and you can't target things directly what has to happen elsewhere on the government side of thingers on societally to make sure the economies do not leave wide swaths of our population behind?

>> it's important, for example, i know you've been talking about layoffs in the tech sector or reductions and head count in the tech sector, and it is important that as that occurs that technology companies do not retreat on some some of the commitments it made on equity and inclusion and maintain that so that the impacts are not disproportionate on the last higher as they become the first to be laid off number two, fiscal policy is crucial here and that is continuing to provide job training and investments in human capital so that those that have historically been locked out are prepared for the types of jobs that the economy is indeed being created so those are -- i think, important steps as well as a continued commitment towards diversity. we saw a slight narrowing in the black, white, black hispanic unemployment rate in the last

month. >> my goal and my hope is that we reach priority where there's no differential based on race in the unemployment rates in this country which would be a positive step in the right direction. so corporate america's got to be committed to it. fiscal policy plays an important role and the biden administration wants to make these investments, and i think they've got to accelerate those investments while job creation remains strong. >> a lot of variability for sure to target there. >> mark morial, always a pleasure sir thank you very much. have a nice weekend. >> appreciate you all. >> it brings back the coursera conversation that we were having. >> and the tools available to do so and the participation. >> anyway, coming up on the show, today's three-stock lunch, our traders giving their take on the top controversial names that are in this market right now, whether it's from the volatility side of things and it's deal drama or if it's changing trends, secular or otherwise so keep an eye on that three-stock

lunch and if you're looking for trades in the second half of the year stay tuned, our own frank holland and josh holland will have your playbook tonight cnbc's special "taking stock. we'll be right back.

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shares of beyond meat basically flat today, but take a look at this one-week gain, up almost 25% kate rogers has more on these food names. >> oatly is up 18%, beyond up 30%. this comes after a brutal six months for boast names down over 50%. while there's not one catcataly, a few factors could be at play there is the possibility for investors doing some bargain hunting and also with grocery inflation continuing to climb, consumers may bristle less at these prices as they tending to be a bit higher than traditional meat and dairy an analyst notes that pessimism on the stock has likely bottomed appear the second half will be all about distribution and meeting targets after covid delays execution will be key for the stock to make a real comeback

and the cash burn needs to slow. at beyond meat investors will wanting to see these big partnerships pay off and a lot will ride on mcdonald's. last month they said franchisee checks on the mcplant were disappointing and a launch is likely not coming in the second half recovering volume growth will be key for beyond in the second half of the year remember, it faces so much competition. the ceo ethan brown did mention there are so many new entrants into the market that it was losing market share so they want to see volume pick back up in grocery and the restaurant sector just ahead. >> all i know is jane wells has me thinking about almonds, mund milk and fighting inflation. that brings us to our three-stock lunch. we're highlighting other controversial names. twitter, which is lower on reports that elon musk's deal to take it private are now in jeopardy and then beaten down brokerage

and crypto firm robinhood. here is quint tatro. let's start with twitter it's in the news right now is this a stock you want to own given the deal dynamics, quint >> given the deal dynamics, i don't think you can speculate on that it's a very dangerous play i think if you are a long-term believer in the company, as i am, you might wanti to buy it a a long-term investment and hold and see if it can turn into a viable business. this company traditionally has a hard time identifyinghow they're going to remain consistently profitable, but right now as far asthe volatility and trying to glean some sort of edge around the musk buyout, it's just not for me again, long-term investment, if you want to do that, that's fine the company is trying desperately to sustain profits over the long term and really work through their business

model. as a trade right here, not for me. >> beyond meat, would you own that for the long run, quint >> again, kelly, these are difficult stocks you're talking about a company that is exceptionally highly levered up huge amounts of debt, and they're losing money so this is a very, very difficult, you know, combination. a company that has to somehow find profitability or they'll have to raise more capital again, if -- i don't want to discourage people if they believe in the company, the sort of old peter lynch methodology if you believe in beyond and you think they can do that, maybe take a very, very small speculative position for your portfolio, but right here there's very little edge other than the fact that they have a 40% share short float and that could certainly help with the sustained move that we've seen over the last week or so. >> quint, our final name is robinhood. it's not one of the so-called profitable names, right?

but is this a buy or a sell? >> okay, now this i can speak to, dom, a little bit. i actually like robinhood and i think of it more as a call option this is a company we own, and this company is fascinating because trading at $9 a share, no debt. they have $7 a share in cash maybe they get down to $5.40 in cash, still exceptionally high cash levels. so this stock has all to do with road to profitability. if they start cutting down on those losses, i think this could be an explosive stock. so again, much like a call option i think you're either going to do exceptionally well buying deep, deep value here or you're going to be in trouble but out of the three it's one that we are actively pursuing here recently. >> three stock lunch twitter is a sell, beyond meat is a sell and robinhood is a buy says quint tatro

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so, kelly, as we close out the show, we wanted to look at that tech trade. we talked about it with gene munster. >> he was bearish for the near term, more bullish on 2023.

>> but he's talking about the mega caps. many of those companies that have taken the biggest beating have been the ones so-called not profitable, cash burners many of them innovation companies in this ark innovation etf. >> kre. >> cathie wood's flagship fund at one point today we hit the highest level in two months on this stock what traders are looking at right now is whether or not on that right-hand side, you can see a bit of a breakout hypothetically and if it were, would that be constructive for the stock the reason we want to point it out is because many of the holdings are those high beta, high volatile growth type names. look at roblox. >> we think of roku or zoom. >> look at roblox, down 60% year to date. but this move that we've seen higher off the lows is now like 90 some percent off the lows, again, just a little bit interesting to see that play out. and then also if you take a look at some of the other ones here, take a look at what's happening overall with zoom video, which

is now up roughly 50% off its lows. >> wow. >> and then one more just for you, take a look at this one teladoc. 50% off its lows. >> it doesn't look like much from the highs but it is starting to be a lot for those who watch the charts and the ark. dom, thanks so much for everything have a great weekend thanks for watching "power lunch, " everybody. >> "closing bell" starts right now. if the s&p 500 does close higher today, it will be the longest win streak of the year the most important hour of trading starts now welcome, everyone, and happy friday to "closing bell. i'm sara eisen we stand higher, up a quarter of one percent although we've been lower. the dow is up 78 or so points. the nasdaq up a third of 1%. nothing like we've seen earlier in the week but up almost 5% this week, 4.75% about 2.25% for the s&p 500. we'll see whethe