again, wells fargo, coming to dividends, warren buffett is who is holding it forever. that's your pair trade. charles: we're going to call it educational wednesday with ken. thank you, my friend. liz claman, as i hand it over to you, the market is under some pressure but this ipo mania is pretty exciting. >> liz: we are all over it we are checking every couple of minutes on the doored but we are getting more news right now on this breaking story regarding facebook, the new york attorney general unfriending facebook, just minutes ago. leticia james along with the attorney general of 47 states filing an anti-trust lawsuit against the social media giant over a whole bunch of accusations of anti-competitive behavior. we are going to be getting more details on this soon from that news conference that just finished at the moment. we do have a reporter there, we're getting all of the scoop

but the stock is getting slammed meanwhile, complete opposite sentiment for doordash. doordash bashing down the doors at the new york stock exchange as it makes a spectacular public debut. we've got one analyst who thinks dash is the keyword in today's ipo, but wait until you hear how bearish he is on the food delivery service and why. you've got to hear why, all right, and one day, before the pfizer vaccine is expected to get emergency use authorization from the food and drug administration, the biotechnology company that says it could easily help with production by making a billion of the vaccine doses per month, 1 billion per month you've got to hear our fox business exclusive with the ceo of publicly-traded diatic internati onal. stocks are slipping as coronavirus remains illusive on capitol hill as far as the aid package is concerned. dow jones industrials down 156,

s&p losing 35, the nasdac down 243 it's about to snap a four- day win streak of all-time records but let me get to this situation with facebook. facebook is plummeting about 2%. here are the accusations, abuse of power, elimination of competition, misuse of private data, even immigration abuses. these are just some of the phrases contained in the lawsuit introduced moments ago against fb by 48 u.s. attorneys general. the stock now down more than 2%, minute-by-minute here as they claim the social media giant illegally acquired competitors in a predatory manner, cut services to other companies that posed a threat, publicly-traded companies. okay, the lawsuit says, by scoop ing up the actual small guys, it let consumers with not enough social media alternatives , that's called monopoly, right? let's get to edward lawrence following every minute of this news conference that just

wrapped up minutes ago. edward? >> liz, did they create that unlike button because that's what's happening here facebook facing the anger of 48 states attorney general as well as the department of justice. now, georgia and alabama are not on that list. the federal trade commission filed a second lawsuit today also, now the new york attorney general in their lawsuit, letici a james, outlined strong arm tactics to crush potential competition to force smaller companies to sell or crush them in order to dominate the social media market. now she says facebook has too much unchecked power over our personal information, and social interactions. >> by using its vast troves of data and money, facebook has squashed or hindered what the company perceived as potential threats. they've reduced choices for consumers. they stifled innovation, and they degraded privacy protection

s for millions of americans. reporter: this lawsuit could ultimately force facebook to break up or spin-off instagram, what'sapp, specifically, the lawsuit also has filed by the ftc specifically asks for that to happen. now in the lawsuit from new york , the new york attorney general is asking a judge to stop those behaviors by facebook of bullying other smaller companies. many democratic senators on capitol hill sounding the alarm saying that the company has become too big, congress has not been able to act and put limits on social media companies or regulate them so it appears now it could happen in the courts, this investigation started about a year ago and this lawsuit follows one by the department of justice and 11 state attorneys general against google. that was filed last october. now the federal government warns this may not be the last one in the pipeline. i have, liz, reached out to facebook for an explanation, answer, a statement they are going to get back to me. back to you.

>> liz: boy this is round 58 right? they're used to dealing with this but the stock does not reflect any hope here we're down about 2 1/3% just a second ago we were down nearly 2.5% we'll be watching it. we got to get to this clearly so much has changed since facebook ipo'd eight years ago. remember facebook rank the bell for the nasdac back in november of 2012 they did it remotely from silicon valley. there were a few glitches, whatever but fast forward to this afternoon when at 12:42 p.m. eastern time the executive team of food delivery darling doordash did their own pandemic version of ringing the bell of the new york exchange via zoom and dash, priced at $102 shot at 78% trading as high as $195.50. right now it's at 174.78 but the killer question at the moment, to buy or not to buy on this first day of trade.

our floor show traders have a combined 80 years of experience buying and selling ipo. let's bring in teddy and scott. all right, teddy i'll start with you because i would say age before beauty but you have both. teddy throughout this hour that's the question we'll tackle to buy or not to buy the stock today and the whale of an ipo tomorrow airbnb. first would you buy dash today and second what's the risk or reward you see when it comes to chasing ipo's on day one? >> i think it's a very risky game. you can get cuomo had it maybe it works, but buying ipo's out of a feeding frenzy like we are seeing today, you know, perhaps two or three years from now, maybe the stock will be cheap but i think you're much better off kind of sitting on the sidelines, letting the dust settle and the enthusiasm kind of wane a little bit and then take another look.

you might miss one or two that don't come back but generally speaking most of them after the initial blush tend to give back a lot of these early gains. >> liz: you know, right now, doordash is trading at 175.04 again higher of the session 195.50. scott i would imagine you're a little annoyed if you hit the buy button and you got that price of 195, but you don't always get a longer term picture of what a stock is worth on day one. if you look at recent ipo's for example, everything from, you know, i want to pick out encino, rocket mortgage, you could throw unity in there, lemonade, all of these names, you know, encino, bank operating system, ipo july 4 at $9 it's around 86 at the moment nice move here, data driven software, today it's $25, and you know, rocket mortgage this is an interesting one that debuted on august 6 at 21 and

it's back down to 21 but it went as high as 34 so these lists go on and on. do they not give me your sense of exactly what you would do on a day liked to with dash? >> i'd be sitting on the sidelines, liz. listen, the ipo market is really hit or miss it really is and the people that are in ahead of time, that's institutional investors and those are the big players that the investment banks are looking to get on board that are going to hold these shares for quite a while, and so as to not create as much volatility. as teddy said, yeah, maybe you missed something along the way, but anybody that's going after one of these ipo's and it's the ultimate form, of the fear of missing out, anybody going after it, you have to go into that mindset that it's worth zero, that this is just a coin flip. i don't care whether you think from a accounting standpoint, it is the best-looking company in

the world or not. you have to look at it like it is a coin flip in that if you lose your investment, you can afford to lose it. if you can't afford to lose it, don't go in it. waiting though, overall, waiting is typically better. you brought up facebook earlier and this is a perfect example. facebook ipo'd at $38 traded all the way down to 17 and now look where it is. that is certainly a one-off but i would absolutely not go rushing into buy an ipo on the first day or even in the first week or so. >> liz: you know, facebook since it ipo'd up $626 but there was a very dry period there. >> yup. >> liz: guys, thank you because as we take a quick look at dash again folks throughout this entire hour not only will we keep it up on the bug on the lower part of your screen but we will repeatedly be updating you right up to the close. the magic number to beat or match is the session high of $

195.50, we're at 175.58 so if you bought it right now you're certainly getting it a couple bucks cheaper than where it was earlier. now as we tackle this to buy or not to buy question this entire hour, did you guys know that you could have bought shares of doordash or panantier before they went public? we have the man working to unload stock of the biggest unicorns of the market before their ipo day an and what if pfizer could produce billions of their covid-19 vaccines in just one month? we're talking to the ceo of the publicly-traded company that says he's got the technology to do just that with the closing bell ringing in 49 minutes, dow is up right now, down rather, 113 points, had been higher, everything is in the red at the moment at least the major indices you're watching the " "claman countdown".

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the question on the minds of millions of americans. did the trump adminitration order too few doses of the covid-19 vaccine? the trump team today is disputing the new york times report that the president turned down an offer to purchase more vaccine doses back in the summer now, as the administration realizes it wants and needs more , pfizer says the u.s. , because it passed early will have to go to the back of the line until late june but could our next guest have solved this problem for both the u.s. and pfizer? diatic international is a biotech company that helps pharma companies mass produce vaccines and he says that he has the technology to help cure the world of covid, much faster. diatic international ceo is joining us in a fox business exclusive welcome back, mark. 1 billion doses per-month that is a bold promise describe the technology you say you have that you can put your money where your mouth is? >> thanks, liz it's great to be here again. over the past two and a half

decades we developed a platform technology called the c-1 technology that allows pharmaceutical and biotech companies manufacturing vaccines of billions of doses per month, not per year, at a lower cost and the reason for that is we developed this technology over two and a half decades to make industrial products, over the last five years we've been leveraging and adopting and modifying it to be used to make vaccines and antibodies. we've demonstrated time and time again in the european union anticipation initiatives which is exactly the diseases of humans that we actually made 300 times more product, antigens, vaccine candidates, in our technology which are being used by companies like novavax. so we're putting our money where our mouth is because you spend two and a half decades between us and bsf and dupont and others , keeping hundreds of millions of dollars spent to get

this technology to be primetime ready to go. >> liz: well, yeah, and so specifically if you could explain to the average layman, or the average claman sitting here, exactly how does it work? i remember in the past we talked about it partially uses the same technology used to stonewash denim, but you know, that's simplifying it certainly. how do you replicate by the massive amounts that are really needed right now and i'm glad to hear novavax is calling on you guys at least. >> well they actually are here to call on us because our technology has demonstrated hyper-productivity versus the sell line so really the efficiency is in the center of the universe making a vaccine and/or an antibody because we also have a shortage of antibod ies coming as well and so what happens is you take a gene sequence that encodes for or describes the way that the cell will make the protein or the antigen in the case of a vaccine, or the monoclonal antibody or the antibody

cocktail and so we've developed over the years the serendipity, synthetic biology a cell line that produces massive amounts of proteins and we don't have issues with the raw materials that go into producing these and these are made in standard microbial fermenters and this could be tech transferred very rapidly and very easily all over the world. >> liz: the obvious question, mark, is why isn't pfizer? why isn't mederna calling you guys or astrazeneca, maybe they are, i'd be on the phone in two seconds, what's going on here? >> we are working with the israeli government as you'll remember from the last conversation we had back in february, the israelis did biological research and working with top scientists, coronavirus scientists and we've actually programmed this technology to make, what we think, is

potentially a safer and a more- effective vaccine which is a reception, so why they need the different technology which is not as efficient and they are using mrna technologies and we're doing protein vaccines being used by sanofi novavax, so it's not as are kiss we believe and it's safer and it creates a effect that could potentially be more powerful and more potent so making a protein vaccine in a hyper-productive cell solves the answers of lack of mass production. >> liz: i've got so many questions, but we've got to run. let me just end on this , president-elect joe biden is promising 100 million vaccinations in his first 100 days in office. is that doable, and i'll double it, how long do you think it'll take to vaccinate the entire united states? >> well i think it is doable.

how long it takes to vaccinate the whole united states depends on whether companies like pfizer and others can overcome some of the challenges of manufacturing that they wouldn't have potentially had using a technology such as ours, but we look at it as a global problem and if we don't solve it global ly we can't travel on an international level and we think it's a global problem, 16 billion or maybe 32 billion doses are going to be needed and we think we can be of big help in solving that problem not only in volume but in cost because we can do it faster, quicker and cheaper on a global basis. >> liz: well, i'm going with the israelis. i think they are smart to come to you guys and we'll be watching a all of it your stock is speaking 23% right now, mark emalfarb, keep us posted on the good work you're doing at dy adic. >> thank you. >> liz: when the company you pay to prevent hacks gets hacked, that's a problem. fire eye getting burned after admitting the software tools it

uses to protect thousands of its customer's websites were target ed in a foreign government cyberattack the breach of the cybersecurity giant also taking a toll on its rivals today but fireeye getting hammer ed by 12% followed by cyber ark. the hack attack coming as the team that fights cyber space and on the ground is starting to take shape. president-elect joe biden making a historic choice for defense secretary along with other key cabinet positions involving the u.s. economy. the closing bell ringing in 39 minutes we're going to get you those names and more when the "claman countdown" returns, doordash trading right now at $ 175.29. stay tuned. i felt like... ...i was just fighting an uphill battle in my career. so when i heard about the applied digital skills courses, i'm thinking i can become more marketable. you don't need to be a computer expert

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72% but of course it opened nearly 80% higher, and it did deliver an epic debut performance when it did finally open in the noon hour, if you're just joining us, it's now at 175.85 so climbing just a little bit since we started the program , let's call it 25 minutes ago. so, the grubhub and uber eats rivals first trade was $182. now, let's see , as you could see uber technologies which of course is the parent of uber eats is seeing a halo effect right now up 1 is/3%, grubhub up 6% and grubhub by the way announced in june it will be acquired by a european company called just eat and speaking of food demand jpmorgan eating up all hostess has to offer the twinkie titan rising as much as 4% today it pulled back a bit still up about 2% after being added to jpm's analyst focus list. pandemic binge eating aside, after conversations with the snack giant's leadership

team. well of course the leadership team is going to say great things but hey, a twinkie, freeze them! freeze the twinkie it's like eating a twinkie bar. yum. now on the flip side investors are growing cold on campbell's soup, december despite a 20% jump in soup sales in the most recent quarter but disappointing guidance on profits for the coming key soup season, also known as winter, icing out shares which are down 2% at the moment to 47.26. lovesack. now this is an interesting one that we talked about this morning in our meeting with the team of the "claman countdown." we thought do you know what? it's not the most well-known name but it is warming hearts into the close, up 16.9% and the cult furniture giant known for its cloud-like bean bag chairs and foam furniture you can customize is the best-known secret work from home stockplay right there. fans have been rushing to buy its power plug chairs for all

your telecommuting devices that actually have a built-in charger box so that you can sit there, the ultimate couch potato, and plug, yes, your phone. oh, i don't see it. all right well anyway, it's pretty cool. you don't have to stretch the cord over to the wall. we're really getting lazy aren't we? it posted a more than 53% increase in the same-store sales in the third quarter. that be website sales of course so the stock is looking great right now. game stop getting taken out of the game the video game retailer reporting a big miss on third quarter revenue plunging a more than expected 30%. management blaming both the pandemic and the final months of a seven-year cycle in consoles for its poor performance. while game stop is down 19.3% right now, it is still up nearly 130% for the year. so at the moment we'll forgive game stop. president-elect joe biden just a short while ago introduced his

nominee for defense secretary, lloyd austin. despite some lawmaker concerns, why? well austin is a retired u.s. army four star general and would need a waiver to become secretary of defense. let me get to hillary vaughn because there's a whole back story to that she is in wilmington, delaware and watch this rollout. hi, hillary. reporter: hi, liz. well, president-elect joe biden 's pick for defense secretary is going to make history and it's part of his effort to follow through on his promise to make his cabinet the most diverse in history but actually, getting him confirmed in the senate could be tricky because general lloyd austin has not been retired out of the military for the mandatory seven years so he would need a waiver in order o actually get confirmation so president-elect biden asked congress today to make an exception and grant a waiver for austin, like they did for general james mattis back in

2017. >> i would not be asking for this exception if i did not believe this moment, in our history, didn't call for it. it does call for it. reporter: back in 2017, 17 democratic senators voted note on a waiver for general mattis and some have spoken out against changing their minds now. senator warren told cnn this. i opposed a waiver for general mattis and i will oppose a waiver for general austin. i don't think we ought to be doing these waivers, but if there are enough senators to back the waiver, he still could be confirmed even if there are some democratic senators that are blocking this waiver because of their stance when they block general mattis' waiver but meanwhile, biden is getting close to choosing who is going to be the top ambassador to china. on the short list, former mayor pete buttigieg, who during his own campaign for president, made it clear he had a better way to deal with beijing than president

trump. >> i'm not a fan of this president's strategy on china. it's not even a strategy but this president's pattern on china is just poking him in the eye because what happens is they poke back and we get tariff s that hurt our communities. reporter: and liz, mayor pete did say one thing he be willing to threaten china with is boycotting the 2022 beijing olympics as a negotiating tactic liz? >> liz: hillary, thank you very much. hillary vaughn. the raw material costs for those two toys that you're buying for your pup are putting chewy shares in the dog house better-than-expected sales figures and guidance not enough to out weigh a warning on market cost pressures for the online pet products giant. profit taking also in play, of course because shares are still up about 165% since january 1, but they're falling about 4% right now. and look at the names on your screen right now.

airbnb, and doordash. one of these two companies making its public debut is about to be put in the dog house by the market voice, some of the biggest names on wall street depend on for their research. he will tell you which one he says is going from hero to zero. that's next, when the closing bell is about to ring in about 28 minutes. the dow at the moment down 140, doordash still climbing $76 at the moment. it stands at 178.23. don't go away. this is decision tech. find a stock based on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity. before discovering nexium 24hr to treat her frequent heartburn, marie could only imagine enjoying freshly squeezed orange juice. now no fruit is forbidden. nexium 24hr stops acid before it starts for all-day, all-night protection.

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open, which was just shortly after noon eastern this time, you are already in the red, because the high of the session, i believe, is 195.50 although we're climbing back up at a moment we're at $180.66 but it is a big question. hot on its heels, home sharing platform airbnb is expected to price tonight above the expected range of $56 to $60 a share ahead of its stock market debut tomorrow, so we bring in two people who might be able to help us clarify to buy or not to buy the founder of investment firm new construct david trainer, and equities and co-founder phil has let join us now and phil 's company helps investors get into pre-ipo private stock and of course david schweikert a research maniac, all right, i'll start with you, david. let's quickly talk about doordash and would you have bought on the ipo moment? >> no way doordash is the we

work of 2020 this business is unlikely to ever make money consistently. the current valuation implies they're going to have like over 120% of the food delivery app toll at addressable market and so look this is just a way, honestly, for softbank trying to recoup some of the losses from rework and we would highly recommend investors avoid this ipo. it's a rip-off for retail investors. >> liz: that is a strong statement. you've got to give me more granularity on that. first of all i know they haven't been showing a full year profitability but they have just been doing gangbuster business and they kind of own the market here. don't you kind of look at the post-pandemic world and say that if people are going to order and want delivery it's going to go to doordash? >> if they hadn't made that much money in the current environment i don't know how they make much money post- pandemic and grubhub looked good before doordash came into

the market. grubhub had 50% market share and positive margins but as soon as more competition flooded the market their market share went way down, their margins went negative. the problem is these guys have no barriers to entry. you don't need to go to college four years to be a food delivery driver. you don't need to do much to enter this business, and even worse, liz, think about it like this. if i'm a restaurant owner do i really want to give up my relationship with my buyer, my end consumer, to somebody i don't know? and if, let's say, for some, you know, crazy reason all of a sudden food delivery makes a ton of money, by the way i've never met any food delivery drivers who have been millionaires but let's just say for some reason it does make a lot of money then what prevents restaurants in saying we're going to take that back. it's our product, you get out of the way, grubhub, doordash and we're going to take those profits. it's a business that has no competitive advantages and i don't think will ever make money >> liz: yeah, and by the way i just want people to know that david does research over at new

constructs that a lot of the big banks on wall street turn to, so you know, this is a voice that we've definitely vetted here. i want to get to phil. fill phil if somebody wanted to get in on doordash early they could have gone to you if they qualified with your parameters over at equities in. can you give us a sense of what shares of doordash before they went public were trading for , let's say, eight months ago, year to eight months ago. >> sure, you know, i can't comment specifically on transactions that happened on equities platform about any private companies but i can say that clearly there were doordash transactions happening at fractions of the prices that we're currently seeing in the market that i agree with david in saying that this is a very elevated price for retail investors to get in. i think there's probably in regulation all exuberance around the price leading into it; however i would disagree a bit comparing it to we work. this isn't a company that's burning over $1 billion-plus.

we work didn't even get to the finish line and go public, right doordash is investing in its nursery company its not invest ing in wave-making companies not creating a tax advantage structure so there is a difference, i will concede though that grubhub looked very similar on how it could performance a company, similar to what doordash looks like. there are economics questions it's priced beyond perfection no doubt but i do think there's a better path for profitability of success with this company than others. >> liz: let me follow-up with going to airbnb and david i'll get your thought in a minute but phil do you have shares of airbnb? you could have them i imagine because the way you get these shares pre-ipo is that employees who were given some of the shares and perhaps would like some of the liquid, have sold them through equityzen, correct? >> that's right that's the service we provide as companies grow larger and larger before they grow company or become public entities at $40 billion evaluations. there's hundreds if not thousands of employees that

poured their blood, sweat and tears into these companies to make them successful and they were hoping to see an exit maybe two, three or four years ago, we just had palatier's ipo that was 15 years in the making and we're trying to give people an opportunity for liquidity and to invest and airbnb it's one of the popular companies on the platform, it's a household name with a consumer aspect to it, and it's even got the p word, you know, profitability which is always exciting within our realm and there's a shift towards growth at all cost which i admit doordash is the banner name for that approach and so there was always a lot of interest for airbnb shares on our platform. >> liz: david your thought on airbnb? it goes public tomorrow. i want our viewers to know we are going very big on this and it's not how ipo's open. it's how they close that's why you've come to the closing hour here, on the "claman countdown", but david, i think we're still smarting from the doordash estimation, but give us your sense of airbnb.

>> airbnb has a real business, you know? and i love i think phil has a great point. buy these shares before they go public because it's the private guys that make a lot of money and the same is true with airbnb i think it's expensive, if i were on the retail side, if i were in the public market side i'd wait until after the ipo lockup, to see how many of the actual original owners hold on to the stock but it's not nearly as ridiculous as doordash the total addressable market required to justify airbnb in its current or proposed valuation is only around 5%, again as opposed to 120% for doordash, and i think airbnb has a real business, right? in some ways it's like a hotel without having to own all of the underlying properties, and that's a real business model and we think that there is a reasonable path to profitability and the ability to achieve the expectations for cash flows as reflected in the stock price. so it's much more reasonable as compared to a doordash. >> liz: well, we'll be watching it all tomorrow, and as we look

at doordash at the moment it is now plunged just another dollar at 181.82 but i think you both have made this very important point. it is a very risky bet, buffett never buys on ipo day, he just doesn't but it's very risky because there's a lot of froth. david, phil, thank you so much for joining us because they help ed us answer to buy or not to buy on ipo day. 5g smartphones, all the rage but could president-elect biden and senate grid lock be putting our quest for hyper speed future into the danger zone? charlie is about to break that story, next. and the holiday season is fast approaching. hey, hanukkah begins tomorrow night. where better to look for beautiful images for your cards or your designs, than shutter stock. shutter stock now has more than 350 million images to choose from, which is such a long way from the founder years ago,

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executives, might not see it. let's get to charlie gasparino and this all centers around it, right? charlie: d.c., i think it center s around d.c. but also yes the georgia senate runoff. liz i've never seen wall street pay so much attention to two senate races particularly in the south, than i have here but that's what's going on here and people are trying to gain what a republican or a democrat win in georgia whether if the republicans keep one and keep the senate, what that means for policymaking and deal making , and one of the big industries that i understand that's closely-watching this is the fcc. let's play this out for a bit. if mitch mcconnell, there's a 2- 2 split in the fcc right now and the president will nominate someone as chairman that would break the tie, and read to much more progressive policies out of the fcc, something much different than what a jit pai did, there will be less deal-making and probably trying

to bring back net neutrality and also the whole notion of nationalizing 5g some sort of massive effort to socialize the 5g rollout will be front and center, but, if that doesn't happen, if mitch mcconnell wins, this is if excuse me if the republicans win one of those seats maybe two, mitch mcconnell remains the majority leader and he will likely block a chairman, the president from appointing a very progressive chairman. if he does that, then it's deadlock and if that happens, a whole other set of things go down. what bankers are telling us is that they believe that will usher in a more deal making and they will see that in the next year as we come out of the covid pandemic as money starts to flow , money that's on the side lines right now, as it starts to be put in the market we could see much more telecom deal-making. again those big things that the democrats want to do, nationalizing 5g, that be off

the table. net neutrality, not going to happen if mitch mcconnell keeps the 2-2 split and people are saying, people in the business, in the telecom business and on wall street are saying that mitch mcconnell, if he's, if he remains asthma leader, will block that, the president biden from appointing the chairman and then that would, i guess he could do a recess appointment i never heard of that out of the fcc, but that be a problem for that sort of progressive agenda, liz back to you. >> liz: charlie, appreciate that insight, it's very valuable, as everybody is rushing to stuff stockings with 5g phones charlie gasparino, all right check doordash it's down $181.12. with eremind you the high of the session, more than $195 per share, to buy or not to buy? we got another one weighing in on that when we come back.

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♪. liz: hold on a second, we've got breaking news. facebook has now just responded to the antitrust lawsuit by 48 state attorneys general. let's go to cheryl casone in the fox business newsroom. the stock is still down 2% but coming off its lows. reporter: it really is, liz. i want to get to the statement out to viewers. just crossed. here is what is says, this is from facebook, the twin lawsuits were filed this morning. they say the government want as do-over sending a chilling warning to american business that no sale is ever final. people and small businesses don't choose to use facebook's free services and advertisers because they have to. they use them because their service delivers the most value. this started to break this morning with dozens of states and the federal government filed suit against facebook. these are twin antitrust lawsuits. basically they say the companies, social media giants abused their dominance in the digital marketplace, that they

have been anti-competitive. the big crux of this, this has been going on a long time, liz, you and i both know that, instagram and whatsapp. their purchases of instagram and whatsapp, does that give facebook as a social media company too much dominance over basically everything? the ftc said they want, this is interesting, a permanent injunction in federal court that could require them to divest the assets, think instagram, think whatsapp this would break up facebook if the government, if the attorneys generals get what they want. letitia james here in new york 30 minutes ago, there she is right there giving this presser, talking about the state of new york's participation in all of this, liz. again, we've seen this story play out before. the government coming after facebook, antitrust, facebook responding. back to you. liz: yeah. not much happens. reporter: yeah. liz: maybe a good thing. cheryl casone, thank you. there are now fewer than 3

minutes left to be able to say you bought, sold or stayed away entirely from the doordash ipo. in our quest again this entire hour asking to buy or not to buy on ipo today we bring in connor street capital dory wiley, 1 1/2 billion under management. give it to us now. this stock is climbing back up closer to session highs. not quite there yet but dory, would you buy or not buy on ipo day? >> i would stay away from doordash. that is all hype for me. they did 875 million in quarter three versus 362 in quarter one. a lot of that had to do with everyone being shut down an doors. say it is 900 million a quarter times four. that is 3.6 billion in revenues. i'm not sure how you come up with a 41 billion-dollar valuation out of that. that is out of my league. i think i would stay away. liz: what would you run toward?

we have airbnb tomorrow and other names you appreciate in a better light so to speak? >> these big private equity, technology type deals come in with a lot of hype, and they do good. some people are doing well in them. i'm a little more fundamental based. i like sectors like banks and energy right now. i know they have been a little bit contrarian this year. they're still way undervalued. there is a lot of upside there. liz: you like comerica can, chevron, some of these names. don't want to buy stuff at the high. chevron down 1%. saw much bigger than expected build in energy and crude. that worries me, dory. you have 15 seconds to give me your case on chevron? >> chevron, you're getting 5.53% dividend. they're fine where they are right now. they're going to trade up and down on the news like they did today. oil is probably going to hit $60 a peril within 12 to 18 months. chevron is well-positioned for that. all the majors.

that is a great stock as well as pioneer. banking comerica -- liz: great to have you. thank you so much. dory wiley. >> thank you. liz: you're welcome. no records, no records on the major indices. doordash closing up 87 bucks or 85% on the first day of trading. connell: falling today from record highs. stocks taking a hit on stimulus uncertainty. senate majority leader mitch mcconnell revealing that lawmakers are still looking for a way forward on stimulus. the problem they still haven't found what they're looking for. the dow is down off the lows. dow, s&p, nasdaq hit all-time highs intraday during the session. stimulus dragging us into negative territory. down 109 points on the dow. the nasdaq snaps a four-day of record run of closing highs. maybe due for a little pullback. the nasdaq down