people supplying safety gear, the pop-up restaurants and things that go to the camps that feed these people and it's more than just those jobs. it's a huge effect and i'm glad we are highlighting it be seen. cheryl: that does it for me. "varney & co." begins right now. take it away, stu. stuart: good morning, cheryl and good morning, everyone. this morning wall street has a look in the field of las vegas and that's not a joke. investment world seems more like a casino. look at game stop the early this morning it went well about $300 a share. this has nothing to do with the underlying value of game stop is a company. this a stock is a battleground where organized retail investors took on wall street. it's not so much a question of whose side are you on, it's a question of who is left holding the bag when the party is over and what impact the casino like atmosphere will have and

the rest of the markets. we will cover this throughout the show. it's a big deal. another big deal, another big story, the financial performance of america's technology juggernauts as this afternoon we hear from apple, facebook and tesla as they have been going up. down today, though at least for most of them. we will look for iphone 12 sales at apple, looking at appetizing revenue at facebook and who knows what from tesla. arguably, tesla has become a casino stock took a big stocks in retreat this wednesday morning. look at the dow industrials. looking at a 300-point loss. snp down about 40.7 nasdaq close to 100 points down right there. it may be that the action in game stop, this casino mentality is unsettling the whole market. lets to politics. the political stories impeachment, the news is

that the democrats will not have the votes to convicted donald trump, but at this point they are going ahead with the trial and president biden is going ahead with more executive orders. 17 executive orders so far at his first six days in office. that's what happens when an impeachment trial crowds congress. we do money, we do politics and as you can tell there's a lot to go after today. "varney & co." is about to begin. ♪♪ stuart: yeah, let's dance albright. look at game stop. let's get straight out it. game stop as of right now is up about $100. the price is $248 per share, up 60% from

yesterday's close. earlier it was above 300. susan, you know what this is all about. take me through the story. susan: social media average joe's versus big-money players an army of of average joe's winning so far, but for how long. elon musk tweeting out his approval with a tweet rallying the stock 30% in after-hours. elon musk tweeting game stock which is what it's been called. also silicon valley says he's betting thousands of dollars on game stop with $115 call for the month of february. at game stop has rallied like crazy and that 700% this month, literally killing the short. now it's a sad they have closed their shore and andrew left doing the same both losing money on the trade. game stop is worth over

$10 billion at last count, more than under armour, more than american airlines and game stop i would argue was the first-- perfect target for this cartel of day traders with huge short interest in this a stock. this is a ripe opportunity, lopsided short trade on a company that doesn't have a lot of stock to trade. you call this froth, i call this strategic. stuart: not sure if we differ, but i'm calling it a casino and i don't like it i think it will change the nature of investing. i don't know what the fallout will be so let's bring in shah gilani, longtime market watcher. i say it's a casino like atmosphere. my question is, does it spillover and hurt the rest of the market? what say you? >> no, it will not spillover and impact of market. it's just what's been going on out wall street

for many years. as long as i can remember and certainly long before i started trading 40 years ago. i think the best insight on what's happening is the comment from elon musk took elon musk is cheering on the short hovering in the rallying stock and that's exactly what he did with his stocks for many years. tesla had been shorted infinitely for so many years and what happened, every time he put out good news the short had to cover and retail investors kept plowing into the stock. this is the same story going on in game stock-- game stop. elon musk is now the richest man in the world, so that's why he's cheering on game stop. it's part of the wall street game. stuart: let me press the point. back in 1999, early 2000, the.com. bubble. who was left holding the bag? who took the big losses? it was the little guy. fast-forward to today,

who will be left holding the bag when game stop inevitably comes back down to earth? we already have a big hedge fund inquiring an infusion of funds and that's why i'm pressing the point about the spillover affect. >> i don't think there will be any spillover because the big boys, the hedge funds understand what they are doing your thing of the exposure they have and they also know they are facing retail investors who will gang up on them as other hedge funds will do an gang up on the guy they know who has big short position to try to force the stock higher. it's a principled game and it's everyone understands how it's played. the fact that melvin got caught in this, i'm sorry, you lose. retail has done a great job of going after a lot of these shorts and actually ganging up on them. it's part of trading and i think welcome to the new world. we will see more of

this. we saw it in aim-- amc and we will see it another stocks i think continually as retail power increases. i think we see more retail investors coming into the market and working these aside, the reddit another chat rooms gaming force and they will be a force in the market for a long time to come. stuart: all right we will agree to differ, but stay there because i want to move to the other story which is big tech and they are reporting later today. apple, tesla, facebook reporting up to develop. susan, start with apple. susan: we have a high bar after microsoft a blowout earnings yesterday. they really need to jump even higher to profit. apple expected to put it in 100 billion-dollar quarter later today and now with predicting blockbuster iphone 12 shipments at least to make 80 million in the final three months of this year. services, max, wearables for this is the holiday shopping period for

apple and they should do well. as her tesla, it should be a $10 billion sales quarter for the electric carmaker, sixth straight quarter profit. they met that 500,000 delivery goal. facebook, the other one, huge recovery and advertising revenue anticipated, but we may be looking at stalling or falling user growth. stuart: let's go back to transport and say this, regardless of what happens in this casino market, are you buying more apple and facebook? >> we already own them and i think they will go a lot higher, stuart. i think all three will have blowout earnings. i don't own tesla but i think the guidance will be important to investors and speaking of shorts is about an 8% short position floating stock of tesla. if they come out with better-than-expected numbers, the shares will rise in the shorts will have to cover the same

gamestop story. i think apple will hit it out of the park. on calling for 105 billion-dollar revenue quarter for apple. they are hitting it on the phone, we have 5g and there, wearables, everything, services will probably put in great numbers with apple hitting it out of the park and i think all the stocks, also facebook will have record earnings. they will lift of the market back higher. this is a brief interlude as some of the earning numbers come out. stuart: gotcha. shah gilani, thank you. now, it's not just gamestop that his seeing this extraordinary volatility. there are other stocks which have gone crazy. lauren, take us-- look at the list, take us through them. lauren: i'm looking at these the 333% for amc. these are companies that were once thought dead, but they have popular brand names and usually smaller market, so it's easier for that reddit

crowd to come in and make an impact. you can see express on there, you see blackberry, amc. they are probably the most reactive after gamestop, but also bed bath and beyond, had filmmaker cost and dillards peered these are the three i have about what's going on in the market and i agree with you, what's unintended consequences, that does the irrationality created cause investors to pull out of the market and also hedge funds, they have to disclose their shorts. but, will the rules change where they no longer have to do it and then you have less transparency in the market, which i don't think anyone wants. what if anything does fcc nominee not do about this because you know the reddit crowd is planning their next target. who will that company be how do we deal with this going forward? stuart: here's another question, lauren. what about the federal reserve, j powell will speak this afternoon,

will he address gamestop in the casino market and if he does what will he say? i simply don't know but it's hanging out there over the markets. i got to move, lauren. sorry. all got a little breaking news here. we have got-- what have we got next i think it's about real estate, what you have, ashley? ashley: i have all sorts of things. good morning. how about mortgage applications, fell 4% last week, but still i should point out 16% higher than a year ago, huge demand, small inventory meaning rising prices. the average purchase loan amount hit another high, $395,200 in meantime refinance did fall another 5% for the week, but still up 83% over last year. more economic info, new orders for manufactured big-ticket items in december, missing the forecasts with the rise of .9% was expected in

durable goods-- goods and came in at .2%. core capital goods which is a closely watched proxy for business spending came in as expended at .6 cents back to the real estate, stuart, very few houses on the market. inventory is chronically low. demand is amazingly high and all of that means prices are going up, up and up. stuart: what did you say about $395,000? was that the median home price or average? ashley: that's the average home price because of the squeeze we are seeing, not enough homes and plenty of demands. stuart: that's the average price of a home? $395,000? ashley: yep, indeed. that was for last week, another record high, average purchase loan amount, yep.

stuart: good lord. thank you. checking futures, please , because as we went on the air the market has headed further south and now you're looking at down 350 dow jones and well over 100 for the nasdaq and then we have california governor newsom starting to lift restrictions but cracks are quick to say it was all political. adam is one of those outspoken critics. is a california native and he will sound off on newsom's tower. we heard president biden preach a lot about the unity. watch this. >> unity and healing must begin with understanding and a truth. we also have to act now, now with urgency and unity community, unity. unity. stuart: however, mick mulvaney says the substance of what he's actually doing is a so radical it cannot possibly bring us

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i don't see anything systemic and it's what you call fair market up like. you are supposed to look for mispricing and some lopsided trades. what about the counter argument, why should shorts that more than hundred% of the available float on a stock and as with gamestop i think the retail, you want to call them average joe's, recognizing an opportunity and they went for it. to be able to collaborate in this cartel of traders and to coordinate this type of shall we say market move i think is very impressive and it had to be an understanding that in 2020 there's a realignment when it comes to markets and how trading works now. it's a social media age and i guess money managers have to understand that things have changed, the dynamics have changed when it comes to trading. stuart: we are in agreement, but the emergence of the retail investors organized retail investors, that's very new in this market and i don't know where it goes, but we are in agreement on that, susan.

susan: did the casino park am i still think it's chris-- strategic and i will argue that throughout the day. stuart: let's move on. it's another day of executive orders from president biden. today that cmis climate change and he's already signed 17 of these orders far surpasses his predecessors. look on your screen. mick mulvaney is with us, former chief of staff to president trump. if the president is signing these executive orders because he doesn't think and get his stuff through congress? >> there is certainly a piece of that and there's also a piece of it that says the biden administration understand how the executive branch works and there is a system to what they are trying to do, which the messaging of publicly and his unity and can't we all just get along and bipartisanship and then behind the scenes they're really laying laying down quite progressive agenda and i think a lot of folks including the markets are missing that. some of the stuff is coming out as i wrote

about the "wall street journal" today on regulation is more progressive than even president obama was, so some of the stuff happening behind the scenes, the real stuff, not the stuff that makes the headlines, but the other stuff. stuart: give me an example of a really left wing executive order or behind-the-scenes action which you can point to from president biden. >> he put out a presidential memo similar to if not exactly the same as an executive order, but it has much of the same authority that changes how the office of management and budget works and i don't put your audience to sleep but it's important because the office of management and budget which i used it to run manages all most all of the regulation the federal government. tells the agencies how to do their regulations and one of the things they have used since the clinton administration is a cost-benefit analysis and on day one with the biden administration, they changed the way: the

use cost-benefit analysis and essentially said we want regulation with positive impacts on things like climate change and racial equity and human dignity and even the interest of future generations and we know these things are difficult or impossible to counsel going forward in a biden administration you don't have to count them. you can assume they are good things and they will set the actual cost associated with making new regulations. it's a dramatic change and something not even president obama was willing to do when he was in office. stuart: mick, i wish i could do a cost-benefit analysis for canceling the keystone pipeline because the cost is astronomical and the benefits may be in the next 50 decades or something like that. i think we have made our point. mick mulvaney, thank you. we will have you back again real soon. thank you. then there's this, president biden says he will replace all federal government cars with

american-made electric vehicles. what's this about, ashley? ashley: well, it's all about the fight against climate change as you mentioned at the beginning of this segment. president biden doubling down on his campaign pledge, bowing to replace vehicles owned by the federal government with us-made electric vehicles to help american businesses compete, he says. at last report the federal government fleet by the way totaled around 645,000 vehicles in the inventory. the plan doesn't exactly specify how long it will take to replace the vehicles with ev or indeed how much it would cost. interestingly, you look at all of those and they are moving lower, some of course chinese, but tesla moving lower. that is the plane of president biden. stuart: the chinese electric carmakers may be caught up in this casino like atmosphere i've been talking about. thank you. look at futures, please.

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stuart: in

stuart: can't get away from it. gamestop all over the place, currently up 119%, $325 a share premarket. mark tepper is with us. are you worried about this when you see action like this in gamestop and other stock, does it worry you and if so why? >> it's insane. i can't believe a bunch of daytrader sitting at home are eating the sooth launches right now. it's a prime example how the capital market isn't supposed working quite frank that it's dangerous for the retailer investors who are winning. at some point, you will have to monetize all the paper gains so what happens, you go on your credit and decide altogether it's time to sell? who's going to be on the other side of that trade to buy the good you are selling? i won't be on the other side, so i think it's crazy and actually dangerous for the people winning right now.

stuart: what about the big tech earnings reports? microsoft yesterday, apple, facebook, tesla this afternoon, are they as important now given what's happening in the market with these casino stocks? >> yeah, i mean, they are still important. blowout quarters from netflix last week, microsoft yesterday, apple will have a blowout. you know facebook will have blowout and tesla could be 15% tomorrow, we know how that works, but they are all important investors need to realize the companies that were winning free covid that got stronger during covid, those companies will continue to win post covid. yeah, the whole digital transformation was accelerated, but there's plenty of runway ahead for these guys. stuart: what a difference, big tech, i mean, extraordinary stuff and these casino like stocks, which have no relevance to their underlying the value. amazing.

mark, i'm sorry it's so sure, but it's crazy today. thanks for joining us. come back soon. they are clapping and cheering, here comes the ringing of the bell. this is wednesday morning. two weeks into the right on capitol hill and here we are with the market now open. up we go. i expect to see a lot of red on the screen. we are getting there, down 300 in the early going. most of the dow jones 30 is in the red. i can see five winners including apple and verizon, microsoft by the way, the rest almost on the downside. off 300 in the first few seconds. s&p 500, big drop about 1% down. nasdaq composite is also down 1%. putting on your screen right now, what we are going to call or crime going to call casino like stocks. these companies have a valuation that nothing

to do with the underlying value of the company. they had been bid up by retail investors, organized retail investors taking on wall street. so far, the retail guys are winning. with the outcome? don't know. look at microsoft. that has hit an all-time high. that's not a casino stock. yeah, i own this psalm appeared 238 is your price they reported earnings yesterday. susan: incredible, the cloud gaming the key and they over delivered on high expectations. their cloud out with sales went 50%, xbox series x flying off the sales with sales nearly doubling during the holiday. they also bought back around $10 worth of their stock. lots of cash closing out about 100 billion-dollar mark and microsoft team had more users with remote work, so that's the trend during covid

with guidance another 40 billion-dollar quarter. astronomical when you saw the stock move around a 6% after-hours. you have held this stock. when have you cemented with action? stuart: i have not seen that type of action and microsoft for a long time if ever, but i will make this observation, microsoft is a dow jones a stock is up 2% and in the dow jones is down 345 points. imagine how far down the dow jones would be if it were not for microsoft, i mean, i don't know how many points we would further be down, but we would be further down for susan, you have other big names that reported early this morning. susan: i want to show you some chipmakers. selling chips for gaming and benefiting from intel's delays and problems with their smaller chips, but i want to show you at&t. this move is interesting. a lot of these companies have done well in their earnings, but they are

not being rewarded, so at&t strong quarter with better product, sales as well did way better and hbo max monster subscriber numbers for at&t, 37.7 million thanks to warmer-- "wonder woman 1984", two years ahead of schedule. and they make them dance sneakers and they are raising their folk past because consumers are working from home by more culpable clothing, but it shows you how high the bar is especially in these record a stock markets. if you do better, you still don't get rewarded on the market, it seems. stuart: and this market good performances and even always perform-- rewarded. how about starbucks? right now it's down. down.3 parsecs. their chief operating officer leaving. susan: she's going to walgreens. walgreens today is bouncing around 3% of premarket. as for starbucks, it

actually did better in the final three months of last year. again, better than anticipated. china turn positive for the first time since the pandemic began and digital sales jump to so they are moving the shift to mobile. roz brewer is leaving the company at the end of february, but she will be the next ceo of walgreens and the first female african-american ceo to lead a fortune 500 company. stuart: interesting. she leaves a starbucks and starbucks go down. she joins walgreens and the stock goes up a purse that i presume they are connected. boeing, record loss last year with the stock down 2.7%. to me more, ashley. ashley: how about $11.9 billion, net loss of 2020. fourth-quarter revenue fell 15% from the previous year to 15.3 billion which actually was better than forecast. commercial airplane revenue as you would imagine fell 37%, but

security revenue actually increased 14% and boeing says it will also delay again the debut of its all-new triple seven at jet while the pandemic has just added to the problems of that extended grounding of the 737 max with the stock down more than 3% today. stu. stuart: thank you. how about walmart? they are using robots to help with online pickup and delivery. lauren, seems to me like they are taking on amazon had two heads before all about getting customers their orders within an hour as fast as possible. walmart is employing robots that local fulfillment centers to do the legwork for the humans, so they go get the items, bring them to the real worker who then pack them up and finishes the online order, but will the robots the picking fruits and vegetables

and produce and meat? know. humans do that so rest assured that we'll have the human touch. stuart: i shall rest assured. now, we are down 410 points on the dow industrials heading further south. 1.3%. 30500 is where we are. how about the 10 year treasury yield? down 1.01%. that's often considered a negative for stocks for the price of gold way down, $16 lower, .8%, 1838 per ounce. bitcoin down $2000. it's below the 30000-dollar mark. this is-- this is my opinion, fallout from the casino like stock market and as for the price of oil, virtually unchanged, $52 a barrel. we are all enjoying visible market, at least i am. is it about to end? wall street veteran dennis godman worried about it.

he started reading the alarm bell. we featured him yesterday. he's back on the show today at the top of the 11:00 o'clock hour. the dow jones continues to fall. president trump did warn of a bite in pregnancy-- presidency what it could do to the oil industry. remember this from the final debate? >> basically he is saying he will destroy the oil industry. will you remember that, texas? you want to kill the economy? get rid of your oil industry. stuart: that was president trump having a go at joe biden during the campaign. the jobs he was talking about argonne with the stroke of biden's pen. more executive orders on the way today. why that is bad news for blue-collar jobs coming up. ♪♪

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stuart: bed bath and beyond, i'm calling it a casino stock: just halted, up 43%, halted i believe because of volatility. they are all over the place. did they start trading again? they just resume, okay. as we came back on the air they were halted in them just resume to trading. they are $52 a share work i believe the day before yesterday they closed at 30. same story with gamestop. where are they now? gamestop hit 350 earlier and now it's up 310, a gain of 110 points. i'm sorry, i call that a casino stock. that's a gambling chip. how about dow jones losers, among the 30 stock the leading loser is walter disney down $7

, 4%. but weaned down his dow, doubting, united health on down in large percentage terms. s&p 500, major-league losers. l brands etc. etc. so some serious percentage losers on the s&p. there are few winners in this market and to some of them are dow jones stocks, walgreens, 3m, microsoft, ibm. dow stocks out. how about s&p wins? there are some. on not going to go through them, but there are some s&p winners on your screen. another look at gamestop, please. a couple seconds ago they were 310. now they are 315. gregg smith is with us, venture capitalist guy. greg, you called this the gaming location of the market. seems to me you agree with me. it's a casino. are you worried about a claimant good morning.

happy anniversary to my parents, mom and dad, love you. you are the best. store, last night i was worried when my 16-year old walked into my bedroom and said dad, do we own gamestop stock and do you know what red it is, so these stocks are moving with no sense of reality. power is almost being democratized and we are seeing a shift of power from the wall street banks, which spends hundreds of millions of dollars a year on research moving to a decentralized network dominated and popularized a social media so i call that almost like a big videogame. you call them casino stocks, but there's no sense of reality in these stocks. stuart: yeah, but is it spilling over into the rest of the markets? i mean, it seems like people are selling other assets, gold, bitcoin for example searching for liquidity to get into cash and they are selling it a lot of stocks which have nothing to do with these casino stocks.

the dow jones is down 550. yet to be worried about what's going on here. >> i'm a little worried. i don't know if they are connected. it's almost what i will call malcolm gladwell to deploy. for your viewers that are historians of the market we remember august, 1995, because-- when it went public and private-- doubled on their ipl. i don't know if it's a fleeting moment or this single point in time and abnormally in the market of what's going on and they will get back to normal, but it is a little bit scary what's happening. i don't know if they are connected to big stocks that we see the market being democratized by social media traders and i don't know where it's can ago or how it's going to end, but we are seeing big sophisticated funds get carted away because they are just getting killed on some of these shorts. stuart: last one. at the end of the day, do you think the little guy who will be left holding the bag?

>> you know, in days past it was always main street that got her by wall street, so get it seems like main street is taking back power from wall street. wall street seems to have no power whether it's the big banks and it's now the little guy whether it's the robin hood of people on reddit or other social media boards talking about these stocks. someone could be left holding to test the back but today it's been sophisticated hedge fund investors getting her. stuart: answer this. when your son reads reddit and they are talking about when they are going to sell gamestop or whatever, who's going to be on the other side of that trade? they all get together and say we are going to sell, who's going to buy? >> when people race for the exits it will be scary, but my advice is stick to your core position, stay long in stocks that are good quality socks.

it's hard to gamble and i would not be gambling in these names because they are too volatile and people will get hurt and carted away. stuart: besides, you have too much to lose. sorry, greg, out of time thank you. total change of subject, why not, jack ma richest guy in china runs alibaba, but "wall street journal" says he plans a major rebound because the chinese government is putting pressure on him. what's going on, susan? susan: 300 billion financial back on the table. jackpot is turning it into holding company instead overseen by china central bank and guess that means tougher regulation and oversight in the future so the "wall street journal" reporting the restructuring could be finalized before the middle of february and chinese new year when china shuts down for a few weeks and this is the olive branch from jackpot who has fallen out of favor with beijing after criticizing them back in

the fall. beijing of course canceling his record-breaking ipo and reportedly threatening to break up his empire work i think it's an olive branch will he get the ipo back on the market? i think the stock will benefit from it. stuart: okay. let's look at censorship. that's another subject we like to cover apart from the casino like market. twitter is a block in conservative radio host dana losh from joining bird watch, the new platform they created to root out disinformation. did they say why they are taking dana out, lauren? lauren: they did. because she posted a story in the past about big tax reaction to that "new york post" hunter biden exposé and that was in violation of twitter's rules on posting private information, what was on hunter's laptop so she is now blocked from

twitter's new crowd sourced to a bird watch allowing posts to be flagged for anything misleading. allows users to leave notes on those posts and those as of now our only on bird watch. you don't see them on twitter. bottom line to the story is twitter has now banned conservatives from their new bird watch platforms. stuart: i got it. lauren: you can't make this up. stuart: you cannot make this up, you really can't. glad we covered this. a nice break from the casino marketer dow jones is down 500 points i have this from dennis gartman who joined us later, he says have you seen what's going on with gold and bitcoin in the markets? they are plunging as we drive for liquidity at this guy rocks turkey you are selling assets anyone to be illiquid and that's what's happening on the market today. he joins us later in the show pic down 516, 30400 president biden sold

himself as being the moderate candidate and so far his actions have been anything but. martinet coming up. there are some mixed messaging on when vaccines will be available for anyone who wants them. listen to this. >> i think we will be able to do that this spring. >> he's also said it will take months and months for a broad swath of the population to be vaccinated. stuart: will president biden be able to keep his vaccine promises? we are on it. more after this. ♪♪ these days, it's okay to do some things halfway...

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aerotrainer's unique design allows for over 20 exercises for a total body workout, all while maintaining safe, correct form. now it's your turn to lose weight, look great, and be healthy. get off the floor and get on the aerotrainer. go to aerotrainer.com, that's a-e-r-o-trainer.com. stuart: a mod of read this wednesday morning. look at the nasdaq which is down 316 points. what's happening here is that a lot of big hedge funds are having to sell all kinds of stocks, raise money so they can cover the losses they made on game stock-- gamestop. look at these go. amc is up 189% and so on down the line. look at this, bitcoin is

below $30000 per coin, first time since late january, off 8% on bitcoin, gent liquidating some assets to cover losses in the gamestop and the other casino stocks. let's change the subject for a second because another concern is the vaccine. and joe biden, president biden wants one and half million vaccinations a day, but those giving the shot say they don't have enough vaccines. grady trimble is that a mass vaccination site in chicago. water officials saying there, grady? >> it's a challenge they are facing here, stuart. appointments a start in about an hour, but this is where they are drawing the miles of the vaccine now to get them ready for when people, round 10:00 a.m. central time. i want to come here to show you how the process works and if mike can come with me. that gated there will open up, that door. 20 cars or so will come in.

they will give shots to the peoples in the cars and in the car will shadow out that way. mark fisher is the executive director. the two challenges you face, not enough doses and not enough volunteers? >> that is accurate. this facility allowed us to scale up and we have more vaccine and more vaccinate her's, then we can go from 600 a day to 1008. >> that is the goal and by the way this is the fairgrounds here in lake county, illinois, it's an event center turned into a mass vaccination site, stuart. stuart: thank you. still ahead on this program, aaron t more of what i am calling the casino stock markets. back in just a moment.

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of former president trump. at 11:00 hour, dennis gartman he is the man who raised the red flag on what i'm calling this casino market. deroy merck dock, angela marsden, the governor restaurant owner suing newsom over the restaurant restrictions. a 1 1/2 drop for the nasdaq. that is a comeback. a few moments ago the has lack was down 300 points. now down 200. same with the dow, down 550. still down 482, all over the place. why? because of stocks like this one, gamestop. which is now up 108% from yesterday's close. 308-dollars per share is the price now. changing all the time. susan, take me through this. susan: we're back above $200.

crazy 7 1/2% rally in gamestop this first month, first few weeks of the year, american airlines, under armour, crossing past $10 million of market cap. elon musk tweeted out approval. his tweets rallied the stock 30% in the after-hours, tweeting game stunk which is what it is called. that is what is behind these gamestop moves. elon musk he approves of killing the shorts, and he loves it when it happens. you have elon musk's check mark. -- betting thousands of dollars of gamestop calls that should expire in february. the small retail brigade killing big money shorts. that is the tale. ken griffin, steve cohen, they have capitulated closed their shorts. andrew left, same as well. losing money on the short

trades. gamestop, perfect ideal of cartel of day traders. first of all huge short interest, more than double the actual float being shorted. betting that gamestop would fall at some type. a lopsided short trade on a company, you don't have a lot of stock to trade it. stuart: it is easy to get into these type of short squeezes. you keep talking about retail investors winning in this bet, blackrock owns about 1.4 billion now in gamestop. they bought their shares for just, as you can imagine for a few dollars. they made like a $1.2 billion profit now. stuart: that is one of the big guys who really won big. there are some out there. all right, susan. gamestop is the not only stock shorted heavily and then exploded. lauren take me through the other names. lauren: amc, their shares at one point quadrupled today, blackberry express, they're

among the most popular. we were looking at companies once thought for dead have a popular brand name on? the less and a relatively small market cap. that is the reddit traders, social media traders think they can get the most action. there are other names, bed, bath & beyond, kos, they make headphones, dillard's, retail traders raiding the suits, the hedge fund short trades if you will. i pulled some of these stocks for the year. gamestop up 1500%. express, up five 70%. -- 570%. and amc up 450%. it is indeed, crazy, stuart. no news. no fundamentals. stuart: yes it is. the values of those companies completely unrelated to the two actual value of the company and what it does. lauren, good stuff. thank you. here is scott shellady. scott, you always have a good opinion to express. are you, look, i'm calling this a casino like atmosphere.

i'm saying that some of the big hedge funds are selling all kinds of assets to make good their gamestop losses. i'm saying this is spilling over into the rest of the market. what are you seeing. >> you know, stuart i would agree with you because it is unsilting. it can't be seen as something that will make you feel confident about the market when these types of moves can happen, number one. number two, it's taught us some of these funds that short these things, that is a dangerous game and maybe they got a little egotistical and got over their skis. last thing, retail traders, all the rules written for protection purposes, commoditized themselves into a group, taken the stocks so high there is no way that somebody cannot get hurt, right? somebody, so, it is like saying i know there is going to be a car crash, that is horrible to say but there is no way around it. you rightfully said earlier on your show, when they want to go to sell, there is nobody that

they're going to be able to sell to. that will be the problem. i think it is unsettling. i don't think it lends confidence to the market. ultimately puts everybody on shaky ground. stuart: who is left holding the bag? back in 1999, with the crash of the dot-coms, it was the little guy who was left holding a stock that they bought at 100 and was now worth two bucks. same thing going to happen this time around you think? >> absolutely. who is going to want to get in? there aren't going -- as these things rally there might be orders left in underneath the market to buy at a certain price. there will be a few of those. when they come to get out of the movie theater because somebody yelled fire, that door is only so big. so if you got one of first two or three people out or you will get taken to the woodshed. that is the problem. there will be carnage. i can guarranty you. it will not be the big guys. because they have gotten their fingers burnt and they have gone home.

you're right, it is casino, retail investor commoditized into a big pool. they're powerful. but on an individual basis there will be some carnage for sure. stuart: should the sec, the authorities, should they step in? if so, what can they do? >> i got a great idea, ban social networks to talk about buying short stocks? that is next move. they do it for conservatives. that is how ridiculous it is. there is a new class of investor with the retail guys and gals that are now banning together. they will have to relook how things are because all of the rules, stuart, i have the licenses to prove it, are written to protect grandma and the little guy, right? now grandma and the little guy have all banned together in a big group, they have done this to the stocks. they will have to take a look at these rules to make sure -- there will be somebody left holding the bag this time. they will have to relook at that to make sure this doesn't happen to this extreme again.

stuart: it is fascinating. scott shellady, thank you for joining us. see you soon. >> see ya, now. stuart: now this. the second impeachment of donald trump, what a mess. a classic example of vindictive politics. won't somebody call a halt to this? the democrats will not be able to convict the former president. they won't have enough republican support. they won't have a fair trial even if it is possible in this political climate. senator patrick leahy will preside over this trial. this senator called for the immediate removal of president trump after the events of january the 6th. this senator called the appointment of brett kavanaugh to supreme court is abuse of power who is a i abusing power. the democrats want a political win. they want a televised senate trial where they can resurrect trump's presidency to trash it.

to them this impeachment is like the last one, use it as a weapon to beat up and defeat the republican party going forward. i think it's a political mistake. i think it is very bad for the country. the pandemic is still with us. a new president is calling for unity. we will be asked to watch extremely divisive senate show trial. we have impeachment drive led by 80-year-old speaker nancy pelosi. the trial will be presided over by the 80-year-old partisan patrick leahy, with a 78-year-old president who can't step in to call a halt because the left-wing of his party would revolt. liz peek is with us. help me out here, liz. i'm exasperated. i say this is a huge mistake by the democrats. it rebounds against them. what say you? >> stuart, i totally agree with you. it is the definition of insanity, doing the same thing over and over and expecting a different outcome. remember the first impeachment

was a flop in that it raised trump es approval rating and also drove him to unprecedented fund-raising. so why should this be any different? the democrats are definitely out over their skis. there was never going to be a conviction. 87%, according to a new nbc poll of republicans still approve the donald trump. those senators are not going to vote to impeach a mt. with 87% approval in their own party. at the end of the day who does it hurt the worse? it hurts joe biden. he has called for unity as he pointed out. either he didn't mean it and he is letting this go ahead because it further divides the country, or he is too weak to step in and stop it. i think it is the latter that really shows him to be an in ininineffect you'll leader of party. why is he lid letting this go

ahead. "new york times," headlines about the trump and trial that will go on. nothing about joe biden even measures up. is that good for the beginning of his presidency? i don't think so. stuart: also on the front page of "the new york times," i watch it every day is the progress report of new cases of the virus. for the last i think seven or eight days the number of new cases has been declining. >> right. stuart: over 14-day period. it's a decline. that, why don't we hear more about that? all we hear is scare stories, oh, you can't get the vaccine, it won't be available and trump screwed it up. what is going on? >> joe biden ran on conquering covid, right, that was his campaign, bringing the country together. they have to create a looming threat. then have biden step in conquer it. it is no fun if the thing already turned the corner as

donald trump leads office because of "operation warp speed" the fact we have more people being vaccinated than are getting infected. definitely a decline in hospitalizations, a decline in icu beds. you heard nothing about this from the liberal press, they want to foment fear, fear of the disease. we all have to be very careful but then joe biden, along about april or may can stand up and say, look at this, we're approaching herd immunity. i raised number of vaccines which he has not done. i convinced everyone to wear a mask. already 90% of the country is wearing a mask. it is showing joe biden to be on top much this stuart, and it's really a shame because people should know that actually thing are getting better and there is reason to hope. by the way the fact that governors like newsom and cuomo and whitmer are lifting some of

the very draconian restrictions in place, that tells you they know they're getting better. they are having numbers turn in their favor. they just don't want to tell anybody because it isn't in their favor. stuart: i think you calmed me down a bit. liz peek, everyone. i'll try to figure it out. more on vaccines. the white house flip-flopping when the covid vaccine will be widely available for americans. watch this. >> i think we'll be able to do that this spring. >> but the fact is every american is not going to be eligible this spring. stuart: so what exactly is it? we've got the story. and then we have california's governor, he is lifting stay at home orders. he says it has got nothing to do with the growing effort to recall him. adam carolla says it is all about politics when ever you're dealing with newsom.

carolla joins us. one of president biden's first order business killing the keystone pipeline. my next guest is fighting to bring it back. montana senator steve daines tells us how he will do that after this. ♪ (vo) businesses are always making choices. here's a choice you don't have to make: the largest 5g network... award-winning customer satisfaction... or insanely great value. now, with t-mobile for business, there's no compromise. network. support. value. choose. all. three.

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cover their gamestop losses. now it bounced back. 237, 238 on microsoft, up five bucks. back to gamestop. in the last two weeks the stock surge has created more than two billion dollars in personal wealth for the company's three biggest shareholders. right now it is up 77%, 263. of bed, bath & beyond, another what i'm calling a casino stock. that value, $43 a share has nothing to do with the underlying value of bed, bath & beyond, its stores or its online business. it's a casino stock, there is a lot of it about these days. we're covering this casino market throughout the show. we got this for you, president biden decided to kill the keystone pipeline that decision met with resistance. steve daines, republican from montana. he is one of the people leading the charge to revive the pipeline. mr. senator, do you really think you can bring it back?

can you revive it? >> joe biden within six hours into his presidency, part of his make america unemployed again strategy. puts workers in saudi arabia as highest priorities versus american workers. i was on the phone with one of our county commissioners in eastern montana. they're literally laying the people as we speak. they expressed news, 60, 60 ohio-paying jobs in a small county in montana were gone. this is so tragic. not to mention the fact environmentally the pipeline is most environmentally sound friendly way to transport oil. it is better than by rail or truck. this is part of the green new deal, radical energy to shut down american production. go back to the 1970s. remember we were once upon a time. stuart: senator, you want to bring it back. how are you going to bring back that pipeline? what are you going to do? >> yeah, two things. we have a piece of legislation we introduced. we need to get bipartisan

support, hopefully get democrats that believe in america energy production and importance of that, and jobs and low energy prices and national security. we need to get democrats on this bill. that is remedy number one, the second is the courts. the thank god of president trump put over 200 new judges starting on the supreme court, circuit court, district courts that will be another remedy in the courts. look what happened with president biden's moratorium on deportations. it was a judge intervened, said, no you can't do that. so the courts will be another remedy, stuart. we have to keep this fight up because this green new deal, this radical lurch to the left we warned american people about if joe biden is elected president, it is becoming reality only seven days into his presidency. stuart: president bind something banning new permits for drilling on federal lands, banning for those permits at least a year. what impact do you think that has on america's energy supply. >> well, i will tell you, the

keystone pipeline was act one. now we're hearing about the ban on federal land for oil, natural gas and coal. we estimated, stuart, that could result in a million, a million american jobs lost between now and 2022. so this is, this is a really big deal. we need the american people to wake up and see what is going on right now, seven days into the biden administration. this is a radical, radical departure from mainstream common sense balanced energy portfolio, thinking that we've had for generation in our country, biden has taken this country far to the left. stuart: mr. senator, thank you for joining us this morning. very important subject indeed. steve daines, thank you, sir. appreciate it. >> thanks, stuart. stuart: now this, bank of america says a ton of money came out of stocks last week. what's that all about, susan? susan: the selloff started a while ago. institutions have been selling a

net $5.2 billion worth of stock last week. fifth biggest withdrawals in the net weekly outflows in the global financial crisis going back to 2008. what this means the average retail investors are bidding up the stock market up to the record levels. the smart money or institution money as we call it is getting out. by the way is a warning sign we might be in this toppy type of market. you see nervousness play out with the vix, fear gauge, volatility index. biggest gain since september. highest since early january. that is the stock market trading near the record levels. what this shows is that there is concern over when the music stops, who is going to find a seat at the end of it and how does this all, i guess play out with all these stocks that really don't have the fundamentals to back up some of these huge price gains. stuart: it is a whole new era. that's a fact. susan, thank you very much indeed. all right. what will a senate impeachment trial actually look like?

fox news anchor bret baier joins us. he will break it down for us. california governor newsom, lifting his state's stay at home orders just as the recall effort gains steam. adam carolla on this. ♪

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reddit messaging board where all this casino-like trades started are down or have had problems or outages since around 10:00 this morning. a down detector finds destructions at reddit, schwab, td ameritrade, e-trade, fidelity, vanguard and robin robinhood. ironically on a day retail traders appear to be winning, therapy platforms, mostly no-fee brokerages are having trouble handling the traffic. stuart: ironically it happens to robinhood, well usaid, lauren. well-said. podcasting, we'll change the subject completely for a second. podcasting. it is a huge medium. what about the future of the podcasting industry, i want to bring in adam carolla and robert ellen, the live by live chair and ceo of that company. he joins us now. first to you, robert, most podcast today are mostly audio.

you want to change that. what will you do to the podcast of the future. >> that's a great question. so we've launched immediately upon acquiring a podcast one, a vod cast network. branded it as vod cast one. nobody better than adam fit profile. we immediately had adam do live events where we had three of his favorite artists perform with him. we added music. moved it from a radio show to television, show, variety show like jimmy kimmel with music that was special. over a million people watched. the exciting part the audio audience did not go down at all as the video audience grew and matured dramatically. the next steps is the second windows for podcasting which will be television and film. stuart: you're making it like a streaming service almost, right? >> correct. so we are a live streaming service that is streamed over 1800 artists, that streamed

everything from sports to music to comedy and as we do that, we think podcast something real exciting growth area that will be, that will be five to $10 billion in the next five to seven years. stuart: that is quite an advance. that's terrific. let me turn to you, adam. didn't you have the record for the most dow loaded podcasts and now you're involved in this vodcast? tell me more. >> i still have the record guinness book of world records, most downloaded podcast. when i started podcasting, i'm coming up on 12 years in about two weeks. no one even knew what it was. people would say, hey you're doing a pod cart, that is cute. obviously the growth has been exponential since then. and it is just the next thing. you know at the beginning we

were just trying to figure out how to monetize doing a podcast. that was over a decade ago. we're just progressing. we're just moving forward and the vodkas is the next step, the next evolution of podcasting. stuart: sure looks like it, once we got you, adam, i know you're a california native. i want you to talk about governor newsom. he just lifted these restrictions or some of them at least. he says it was not political. what do you say? >> well, if it wasn't political he probably wouldn't have had all the restrictions in place in the first place. also, i was just driving in this morning and i thought, this is such a horribly-run state. as i was listening to the news radio talking about us wasting $31 billion on unemployment fraud, i noticed it started raining. i looked to my right. i was on the freeway. the sprinklers were going off. we water in a drought state

while it rains outside and give $31 billion a way to felons. probably not the greatest-run state. stuart: i like to know who replaces him if he indeed is recalled. i'm out of time, robert allen, adam carolla. i got it right. thanks for joining us. great idea about the vodcast keep going with that one. >> thank you, stuart. stuart: let's get back to the markets. it is craze city stuff out there. lauren, you're following the biggest movers today. what have you got for us. lauren: i'm sticking with the crazy stuff. the target of that reddit crowd, let's ask kodak to the list. kodak's share surges irobot, macy's and biopharmaceutical company called ligand. all these are up. let's deal with facts and science. that is the facts.

show you pharmaceutical company astrazeneca is down. there is infighting over in europe over the little supply they have. there is issue at some of the plants including astrazeneca's belgium plant. that stock is down 3%. moderna is confirming it could supply the u.s. with an additional 100 million doses. that stock is up. another positive for you, walgreens boots a alliance, the dow is down 363 points. this stock is up 5.25 starbucks, getting from starbucks, roslyn brewer, she will be their new ceo, stuart. stuart: that sounds like star power for me. lauren, thanks very much indeed. lauren: there you go. stuart: one week in office and president biden is setting records for signing so many executive orders. is he getting around a divided congress with this? i will ask bret baier. as we go to break, again, gamestop all over the place right now it is up 88% at 279. it had been 350. to me, this is a casino

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- [both] thank you. (giggling) ♪. stuart: now there are some stocks which are big movers, but we'll not call them casino stocks. susan, you have got the list, go through them please. susan: it is not just the small caps being shorted or potentially shorted and squeezed in this type of environment. i want to show you viacom cbs. again a lot of short interest in some of these s&p 500 companies as well. viacom cbs as you see there, up close to 8 1/2%, trading at two-year highs. they did sell out all the ad space for the super bowl. but viacom cbs. american airlines, these are the two most shorted stocks on the

s&p 500. ripe for short squeezes, potential targets for a lot of social media retail traders. here is another one. toot at this roll maker. it is up 53% -- tootsie roll maker. this halted for volatility this could be the next gamestop. i want to show you the tootsie roll maker. how often we talk about this company. we don't. it is so small. this could be the next potential gamestop, if there is this brigade and retail army buys into it to kill the shorts. stuart: you know what we've got to do, susan? we have to fun into reddit to be on the chat room. susan: i've been on it an telegram. it is hard to decipher, you have to judge for yourself hot authorities are in these voices. this is miss match of a lot of different voices out there. it is just really hard to pick and choose. stuart: but are they organizing at that level the next target,

the next attack? >> so look i was on the wall street bets page on reddit this morning and last night. there is 2.3 million community members. not all 2.3 million are listening to the same people but if you just get together a few thousand, maybe trade a few thousand shares if you can, hopefully up to a million you can cause some damage on the markets. i guess with gamestop. it actually, was more pronounced once the qe cofounder announced he was joining the board. with that type of news flow and type of headlines that also causes spikes. that is when you get a lot of attention. stuart: got it. susan, thanks very much. let's bring in jason katz, long time market-watcher for us on the program. jason, i'm calling it a casino like atmosphere. some is spilling over into the rest of the market. what are you seeing? >> the price action stuart is completely and utterly divorced

from fundamentals. people have characterized this as the democratization of wall street, quite to the contrary. the fact of the matter it is relatively small universe of retail investors pushing around the relatively small universe of stocks. so at the end of the day this reddit army, they don't have the where with all to sustain these big losses. i work with individual investors, high net individual investors. yes they're curious about what's going on and there is some concern but they're no the ones who will left holding the bag. it will not be the institutions. it is the kids on my basketball team asking me how options work. or tell me about gamestop and how do i play this. that is who ends upholding the bag here. stuart: two questions, number one, do you think we should hear something from the sec about this kind of market action? and number two, is it possible that fed chair powell will be asked about it this afternoon?

>> yes, 2-x, yes squared. without equivocation regulators will come in here. we continue with all the modules and regulated for good reason. i think you're going to see on some of these platforms where there isn't an intermediary such as myself there is going to be some prerequisite before ultimately they can engage in this trading. certainly powell will be asked about it. when asset bubbles form there are real world consequences. unlike the financial crisis is is not striking at our core. this is not a systemic issue within the financial system this is finite group of people. reminiscent of 1995 to 1999. there were message boards on aol. i don't think this will be market bubble.

the market will be driven by the virus, vaccines and reopening. stuart: jason katz, thank you very much. change of tone, change of subject. talk about the second impeachment trial of president trump. it is set to begin in under two weeks. bret baier is with us. bret, you will be handling coverage on fox. what is it going to look like? this is a televised senate trial. what does it look like? >> it will look a little like the first one but the chief justice will not be presiding as the judge, if you will. they will have senator patrick leahy in the chair. the, we don't know if -- the process, stuart was so short ended on the house side. usually the house is the grand jury. that is through the committee is where the witnesses and they make their cases as we did in the first impeachment of president trump.

because that didn't happen, we don't know what it is going to look like. but we know it will be explosive. we know right now, judging by the vote yesterday, that there is no way they have the votes at this moment to convict president trump. stuart: are you convinced they will actually go through with it? >> pretty convinced it will move forward. i think it will be fairly short as far as a time frame. you know, up on capitol hill stuart, next week, democrats will try to move their budget resolution in the house and the senate. that is going to be explosive in of itself. they are trying to set the table for using budget reconciliation, in other words, just 51 votes by the time they get to early march, for covid bill and moving forward with that. because that is what they're going to do, you will see a lot of fighting about priorities next week. budget priorities. and expect progressives to be very loud. that will set the table for the

next week which is the impeachment trial. i think republicans will try to take advantage of that. stuart: is president biden signing a lot of these executive orders because he knows that the senate, congress is going to be tied up with impeachment? he is going, trying to get his measures through, kind of the backdoor because congress is clogged? is that what is going on? >> well i do think that they laid out this effort, 17 in the first week is pretty extraordinary. they're not small. obviously the keystone xl pipeline, what he is doing today with gas permits, they affect a lot of people. immigration orders along the border, one of them being challenged on deportation by a judge currently. yes, i think that is the thinking. that their, congress will not be able to do the big things at least for a couple of months. stuart: you have your work cut out for you, bret. then you have had your work cut out for five or six years. >> that's right. i have a question for you.

i am fascinated by this gamestop story. i'm just fascinated by it. i listened to your last guest and i heard what he said but a market is a market, isn't it? i mean, if you -- stuart: yes it is. >> you have to let a market be a market. stuart: yes, indeed you do. but there is something new in this market and what's new is organized retail investors meeting together on social networks and ganging up on various stocks an ganging up actually on the big players on wall street. some of these big players shorted gamestop. they bet the thing was going to go down. the retail investors came in, bought it, the stock went up and big guys on wall street had to cover their shorts. they had to buy it. that is why it went through the roof. this is a new element in this market we've not really seen it before and it has emerged full force this week.

it's a fascinating thing. >> what do you say to the people who say, maybe there shouldn't that many shorting those stocks? you know, it is just a fascinating thing. we're going to do it on our show. i just wanted to hear what you thought. stuart: no, i wouldn't favor any move to say, oh, you can't short stocks or, yes you can. no, i would leave things where they are. i think sunlight is the best disinfectant. let's see what is going on. have it all out in the open. but i pity the little guy who i think will be left holding the bag. that is where i'm coming from. >> that is fascinating. stuart: last word. >> it is your interview but i had to couple questions. stuart: feel free to interview me on this program anytime you like. always a pleasure. bret baier, thank you very much. >> see you, stuart. stuart: we'll get back to the casino market in a moment. right now i'm talking about the

white house already flip-flopping on when the covid vaccine will be available. watch this. >> i think we'll be able to do that this spring. >> but the fact is every american is not going to be eligible this spring. stuart: okay. so which is it? we've got the story. plus california officials admitting 10 of billions of dollars, actually $31 billion in unemployment fraud. 31 billion. that is just california. but you know, it is a nationwide scam. we got the story after this.

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go to golo.com, where over 1 million people have found golo and a new and better way to lose weight. this is not only a weight loss journey, this is a complete transformation, mentally and physically. (announcer) want to lose 60 pounds? how about 100 pounds? you can. (woman) it's easy, and it will change your life. (announcer) go to golo.com. that's g-o-l-o.com. ss out. stuart: the vaccines. the white house is backtracking own when everyone can expect to get the covid vaccine. will you go through the flip-flop for us, please, ash? ashley: i would be happy to. two days ago president biden made all types of promises, every american who want advantage seen would get one by spring. by summer we would be well on our way to herd immunity but that optimism being tempered by

his own press secretary who clarified the president's bold prediction. take a listen. >> i think we'll be able to do that this spring. >> he also talked about his desire to insure there is greater availability in the spring but the fact is, every american is not going to be eligible this spring. ashley: so what we heard there was greater availability of the vaccine by spring but no guaranties. by the way president biden continues to call the slovaks seen roll out, a quote, dismal failure, unquote, caused by the trump administration. but has yet to directly address the issue of the vaccine's stockpile and what's being done to increase the speed of delivery. stu. stuart: all right. thanks, ash. then there is this, new data shows some people are fraudulently getting a lot of government aid meant for those people struggling from the pandemic. jackie deangelis joins us. how much money we talking about here, jackie? reporter: good morning, stuart. well in california alone we're

talking about $11.4 billion. labor secretary told reporters that 10% of the funds the state played out confirmed as fraudulent. another 17% are considered suspicious. we're talking about a massive amount of money. 114 billion has been the total pay out so far. the 11.4 i mentioned is fraudulent and 20 billion more could be suspect here. how could this happen? essentially through hacking. there was broad eligibility for the funds. part of the reasoning to make it easy for people who needed money make it quickly. that made it for people with bad intentions too. we're not just talking about domestic criminals. we're talking about sophisticated criminal enterprises from russia and nigeria as well. it is not limited to california either. as many as 12 other states are seeing a increase in fraudulent activity in arizona, new york, washington, ohio, texas, are

just some. in washington $357 million was recovered according to the ap. this was through collaboration between federal law enforcement and financial institutions but still it pales in comparison to what has been taken. i will leave you with this, stuart, it all comes as president biden wants to pass another $1.9 trillion stimulus plan that would include more unemployment insurance. his plan would increase benefits from that $300 approved in december to $400 a week. it would run through september of 2021. a lot of people are saying how much of that will go to fraudulent players? stuart: please fix the fraud before you hand out anymore money. jackie, thank you very much indeed. we are talking about a lot of money there as we go to break, take a look at gamestop, this is a frenzy surrounding this stock. i think it created a casino-like atmosphere. dennis gartman warned us about this he is here after this.

>> just what has been going on on wall street for many, many, many years, gang up on guys and try to force the stock higher. this has been going -- it's a principled game. this is just part of trading. >> this is dangerous for the investors who are winning right now. >> these stocks are moving with no sense of reality. >> i think it's unsettling. i don't think it lends confidence to the market, and i do think it ultimate9ly puts everybody on shaky ground.

♪ ♪ [laughter] stuart: that's appropriate. the winner takes it all. who's the losers, i want to know that. 11:00 here on the east coast. wednesday, january the 27th. let's get right to it. stocks still down but paring earlier losses. at one stage the dow was down 585. now it's down 292. so that is a comeback. same story with the nasdaq. was down well over 200, now down 100. i still say it is a casino market. now this. look, this is an ongoing story. it's just getting started. we're talking here about the stock market turned into a casino, and i think that's very dangerous. just look at gamestop. this stock is the current battleground. retail investors, short sellers,

big hedge funds, they're fighting it out. it's got nothing to do with the actual value of gamestop as a company. it has everything to do with the little guy going against the big guys of wall street and turning investing into gaming. played out in social media. yeah, somebody's going to get hurt. at this point some of the big guys are big winners. for example, ryan cohen, cofounder of chewy. in all this he made a $75 million investment in gamestop which is now worth roughly $1.3 billion. and if you check out the chat rooms, you will see countless little guys who have, indeed, made a small fortune. but that's the way with gambling. you spin the wheel, you take your chance. but like all gambling, sooner or later somebody gets hurt. with gamestop the little guys have declared victory. they've beaten the short sellers and some hedge funds. but what happens now that the battle's been won?

they'll move on to other targets, leaving a lot of people holding the gamestop bag. that's when people start getting hurt. and heaven forbid it spreads to the broader market, undermining confidence in the whole concept of investing. if this -- this is just the beginning. the rise of the retail investor coupled with new investment vehicles like those spacs will change the nature of investing. thyme sure the regulators -- i'm sure the regulators are watching. yesterday we featured the analysis of dennis gartman, raising the alarm about greed, avarice, stupidity and blind hope, and dennis gartman joins me now. all right, dennis, congratulations. you were right out front with this. you say a bull market will end in tears. take me through it. how does it end? how does it end in tears? this. >> well, the problem lies in the fact that you have this enormous fight going on as you were just explaining to the public. the public is winning at this

point, or at least a small number of people in the public are winning, and the losers are a number of hedge funds and a few large traders who have been short and with justifiable reason people took a short position in gamestop because it was a losing company. it was losing hundred for years. it's a, it was simply not -- ited had very little value, to be quite honest. but the problem was today had, what, 100, 140, 150% of the outstanding stock was short, and that's always a problem because when you're short, you have to eventually buy to cover that position. that's always buying pressure underneath the market, and people were adding into the losing trade, averaging into a losing position, doing something that, i think, is ill-advised along the way. when you have a bad trade, don't add to a bad trade along the way. and it just became worse. add to that the fact that i think one of the things wall street has done which is terrible, and i think illustrate thive of the greed level that has existed on wall street, is

the arise of the spac business that has gone on. i think these are the signs of the type of action that you get at market tops. it is reminiscent of what happened in 1902 when you had the short squeeze in northern railroad which took the stock from 40 to 1,000. people who sold it had to cover, and other stocks were getting battered as those or who were short ended up having to sell anything they could to raise liquidity. i think mr. shellady this morning made a great comment, this reduces confidence level in the stock market and the economy, and these things always play out and end in tears. how will it end? i have no idea, but they usually almost consistently, almost universally end badly for almost everyone. let's hope that i'm wrong, let's hope that this time is completely different, but i have my doubts otherwise. stuart: we have seen some hedge funds flirting with real danger in need of cash infusion.

melvin capital, for example, needed money, and i think they got it. >> yes. stuart: we're also seeing some hedge funds covering their losses in gamestop by selling other stocks totally unrelated to the casino atmosphere. and so that cascades down. now, that appears to have stopped because the dow's down just 300 points, but you don't think it's over, do you? >> no, i really don't. and i think the bounce we've had this morning -- let's first say the real panic of the day probably has run its course. you had the dow down 550, 560, 570 points earlier. it's only -- put this in coeation marks -- quotation marks, it's only down 300, but damage has been wrought. and what bothers me for the day, volume was increasing dramatically, and as we've bounced from the low, volume has ebbed back, has subsided, and that's usually the indicative circumstance technically of a market that wants to go lower again. i hope i'm wrong.

i hope this is just a brief flurry that the ends very quickly and no one else is hurt. but i think that instead offing having one or two hedge funds, by the time we find out what has happened, you'll have several handfuls of hedge funds who have lost money in gamestop and losing money in a number of other short positions they have out there and are now losing value in their long positions as they liquidate it. i hope i'm wrong. i hope it is short term in nature, but i have my doubts. i'm really quite fearful. stuart: dennis, we'll leave it at that, but thanks very much for being with us again today. we appreciate your commentary. >> thanks for having me on, stuart. stuart: sure thing. let's get back to the overall markets. dow down 300, nasdaq down 122. susan, what's the big movers? >> i'm encouraged that there's been some dip buying this morning because we were looking at the s&p 500 down 2% at the start, the worst selloff since

october, but now we've gone above that, so we're only down 1%. dip buying, i think, is encouraging. what about earnings? microsoft on the dow today, cloud unit and store sales jumping 50%, xbox sales phenomenal. phenomenal, nearly doubling in the holiday shopping period. the stocks are the ones likely to be the next gamestop, you just talked about this with dennis gartman, the eastman kodaks of this world. also the tootsie roll maker, we don't talk about that much, but you have these mob if traders looking for the next heavily shorted stock to bid up and mount another short squeeze which means the shorts have to buy the stock. as i mentioned to you, kind of like a soda bottle being shaken, eventually the top goes off. you have to take a look at the s&p 500 stocks being targeted as well. viacom/cbs along with american airlines, the two most shorted

stocks on the s&p. we have viacom trading at two-year highs, look at the move in american airlines, up some 10%. and, yes, mob mentality, but as you said earlier, i think this is how market dynamics work, right? why shouldn't the shorts and hedge funds be taught a lesson in this case? stuart: well, they've been taught a lesson, that and that's a fact. susan, you're right. thanks, susan. let's change the subject. back to politics for a send. president biden has already signed 17 executive orders, that's just in his first week in office, and more expected today. todd piro is with us this morning. todd, president biden campaigned as a moderate. some of these executive orders though, they seem pretty radical to me. how about you? >> yeah, stuart. i think you could have ton it is of experts come on here and tell you, look, biden is moderate, biden is liberal, but i'm going to come at this from the perspective of my job. for the last two years, i've spent my morningsings interviewing people. and to a man and to a woman, the

conservatives said joe biden, a moderate? you're out of your mind. joe biden is a liberal. the people who have been saying joe biden is a moderate, by and large, are democrats who are saying this for two reasons during the campaign. one, because they wanted to defeat trump. no shock there. and, two, because to them he is more to the center of aoc. one of the new standard bearers in their party. so, no, stuart, this shouldn't come as a shock. joe biden said he was going to do these thing, he said he was going to do these executive orders, and this is exactly what he is doing. all of these executive the orders come from that leftist part of the party when you have things like transgender athletes, killing the keystone pipeline connected to what he did earlier today which is heavy climate action, this goal to get rid of fossil fuels which most of the country is not onboard with. stuart: but it is radical, you got that right, todd. now -- >> very much. stuart: -- let's talk about going back to school. i think you want your kids to go

back to school, but look what's happening in chicago. the teachers won't return to the classroom. i think going back to school is the most important thing here. >> well, my little one's a little too young to go back to school, she's three months. so if she goes to school, something's gone horribly wrong, stuart. but in terms of the other children, look, what's happening in chicago is the school board and the union can't get together on what is safe. but within the last 24 hours, the cdc has come out with its latest guidance and said, look, provided you have masks and provided you social distance, schools are, by and large, safe. it is so disappointing in so many parts of our society whether it's congress unable to figure things out when it comes to a stimulus, whether it's schools and unions unable to figure things occupant, it's the kids that suffer, the businesses that suffer. this is yet another example of how this nation has failed during this pandemic to take

care of its people, and it is a sad commentary. kids need to go to school, stuart. they're losing socialization. they're losing ability to learn somewhere other than a computer. that's not how you learn. it can be a part of it, but you can't just have that one aspect. schooling is holistic. kids aren't getting that right now, and our society's going to suffer as a result. stuart: oh, well said again. todd the, thanks so much for joining us, we appreciate it always. thank you. international travelers must now produce a negative covid test to fly into the united states. sum rules could -- similar rules could soon be added for domestic travel. how about that? we'll explain to you. democrats are pushing for a $15 federal minimum wage over the next four years. coming up, we hear from a restaurant owner who says wage hikes ruined his business. you'll want to hear this. ♪ i'm on my way, i'm making it. ♪ big time. ♪ i've got to make it go, yeah.

♪

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and what did you get, mike? i got a bike. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ ♪ stuart: all right, the market or is now down 355. that's the dow industrials. down 134, that is the nasdaq. yes, it is a selloff. here's gamestop, okay? this is the problem. this is what makes wall street look like las vegas. gamestop is now $344 a share. it's up 132%. no relation whatsoever to the underlying value of the gamestop adoption. and that's not the only one. bed bath and beyond, that's another. i'm going to call it a casino stock. it's up 25%. nothing to do with bed bath and beyond's underlying business. and there are more. go through them for me, lauren.

>> yeah. more casino stocks, irobot, tangor factory outlet, macy's, right-hand pharmaceuticals, b and g foods, these are among the most heavily shorted on the s&p 500. but there's also news today, and that's vaccine news because the rollout of the vaccine has also been a key market driver. i wanted to show you shares of moderna because they're up about 5%. they confirm, yes, we are in talks with the u.s. government to supply an additional 100 million doses. and let's take a look at the dow. the winners there -- believe it or not, there are winners -- walgreens, 3m and microsoft. 3m and microsoft are up on earnings. what's interesting to me on 3m is, yes, they make n95 a masks, but as this vaccination rollout happens, they're also going to be able to supply schools and dental offices with the equipment they need. the vaccine is still very much in the news in addition to the social media trades.

stuart: you got that right. all right, thanks, lauren. look at this, i've got a brand new -- or we have a brand new foxnews.com op-ed, and it reads: trump answered liberal prayers through conservative means. trump answering liberal prayers through conservative means. deroy murdock wrote that, and he's with us now. you want to explain that? >> stuart, how are you? good to talk to you. absolutely. what people on the left are should do with donald j. trump is rather than scream nasty words and names at him, they should say two words, thank you. time and time again he actually sort of delivered on liberal slogans and goals but did so through conservative means that make people on the right, like us, happy. i'll give you a couple of examples. people on the left always talk about carbon dioxide and gotta reduce co2, carbon pollution as obama called it. and, in fact, 2018 and 2019, co2 emissions fell by 2.99 %.

he didn't do this by shutting down the economy or praying with the people in paris or anything of this sort. he basically increased energy independence and increased fracking. fracking produces natural gas, and a lot of factories, apartment buildings, so on, moved from oil to coal to natural gas and, therefore, u.s. co2 emissions actually fell under trump, and i believe we had the most dramatic decrease since 1985. another good thing, big beatles fan, as am i, give peace a chance. the left talks about peace, no more war. president trump is the first president since jimmy carter not to start a war overseas. he used diplomacy to conclude four meddle east peace agreements between israel and its neighbors and, in fact, for this he won four nobel peace prize nominations. so, again, the left should say to donald j. trump thank you. stuart: how quickly we forget what donald trump actually get, certainly in his first three,

three and a half years. >> absolutely. stuart: hold on a second. let's talk impeachment for a second. the democrats -- only five republicans, the ones on your screen right now, those are the only five republicans who voted in favor of the upcoming impeachment trial. that means the democrats, who needed 17 republican votes, will not secure a conviction of president trump. it's not gonna happen. but, deroy, they're still going to go through with it, we understand. and i think this is a serious problem for the democrats. i think it'll look like just plain silly, you know, impeaching a former president when there are other much more present, pressing concerns at hand. >> oh, yeah, absolutely right about this. i mean, look, it looks at best they're going to be 12 votes short of conviction which means it's just a theatrical exercise. the goal of impeachment is to remove someone from office, but guess what? donald trump's already roadway

moved, is so mission -- removed, so mission accomplished. it's also important to say the president never incited a riot. he never said go attack the capitol. he, in fact, said go to capitol hill peacefully and patriotically. that does not sound like an attack order, and we're now learning the attack was in the planning stages anywhere from one day to five days ahead of that time. so i i think he's innocent of these charges, this is a total waste of time. the senate ought to be voting on president biden's executive branch nominees, covid-19 relief, economic recovery legislation, and instead of focusing on those important things that the american people want and need, we're going to waste our time on a completely illogical, unconstitutional, a sured impeachment -- absurd impeachment exercise. stuart: yeah. at this point that trial is supposed to start on tuesday, february 9th. we'll see how that turns occupant. see you again later, i'm sure. >> stuart the, great to see you. stuart: all right.

we've got boeing down nearly 3%, but it's in a down market. what's the story, ashley? >> well, for 2020, stu, boeing recorded a loss, a net loss of 11.9 billion. fourth quarter revenue down 15% year-over-year. that was actually better than the forecast. but commercial airplanes revenue, as expected, fell 37%. but if you look at the space and the other tuition there, you can see that the, actually, revenue increased 14%. that includes security division as well. boeing says it's also going to delay the debut of its all new 777x jet again. by the way, they haven't received an order on that particular plane since 2019 when british airways signed on. so that's how slow that plane has moved. also we should note that the pandemic, of course, has added to the problems of that extended

grounding of the 737 max. to say all of the bad news came together is not doing it justice for boeing at all. it has been a rough, rough last couple of years. stuart: tell me about it. hold on a second, ash. tell me about these new travel rules that we hear are coming down the pike. >> yeah. the biden administration, the cdc, the airlines themselves are in conversation about new domestic travel testing requirements. what the types and locations of testing might be. now, new cdc rules require or nearly all international air travelers age 2 and older to present a negative coronavirus test taken within three calendar days of travel or proof of covid-19 recovery to enter the u.s. now, as you can see, no proof, no fly, that does include u.s. citizens. last week president biden directed u.s. agencies to make recommendations to impose additional public health

measures for domestic travel and to consider new requirements for people crossing land borders. it's interesting, it could include requiring those negative covid-19 tests before flying domestically. if all of this goes through and those tests are readily available, it could ultimately, stu the, raise the number of people who actually will fly in this country. stuart: i was surprised about very low number of tsa -- >> yeah. stuart: -- 468,000? that is a very low number. >> very low. stuart: -- winter in parts of the northeast, but it's a low number. ash, thank you. big names bike -- like budweiser, coca-cola opting off the super bowl advertising market this year. we'll tell you where they're spending their money instead. remember the restaurant owner who went viral for pointing out the hypocrisy in california's dining restrictions? watch it again. >> everything i own is being taken away from me, and they set

up a movie company right next to my outdoor patio. we cannot survive. my staff cannot survive. there are finish. stuart: angela marsden is suing over those dining rules, and she's on the show after this. ♪ here i go again on my own. ♪ going down the only road i've ever known. ♪ like a gypsy i was born to walk alone ♪♪

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♪ stuart: let's put it like this, the markets are unsettled by this casino-like atmosphere that's coming from the skyrocketing of some what i call casino stocks like, for example, blackberry. it rallied the last couple of days. it's rallying 20% today. that is something of a target by retail investors pushing up the price. 20% higher right now. but look at amc. can you believe that? 228% higher, up $11 at $16 a share. don't tell me that that's anything but a gambling chip rather than a stock. that's my position and i'm sticking to it.

okay, now this. bernie sanders just introduced a bill to raise the federal minimum wage to $15 per hour. here's gerri willis at the rarebit restaurant in new york. how's that restaurant going to cope with $15 an hour? >> reporter: it's not pretty, let me tell you, stuart. the place to come for fish and chips in westchester county. yesterday, of course, bernie sanders introducing this legislation that would double the federal minimum wage to $15 an hour from $7.25. one big secret in that legislation nobody's talking about, it actually indexes the federal minimum wage to median wages in this country. so, if you will, a c.o.l.a., cost of living adjustment, included in this. to find out more, let's talk to scott broccoli, the owner and operator of this fine institution. scott, tell us -- you experienced something like this in san francisco. you owned a restaurant there that had a minimum wage hike. how did it impact your business?

>> it really ruined us. overnight we had to, all of a sudden, reinvent ourselves, start laying off people, unfortunately, and it was very tough letting people go. the costs had to go up for our food, and nobody likes that. >> reporter: what do you think of the timing of this? >> it's horrible. it's reprehensibling. it has to happen, let's just wait until we have a chance to get back on our feet and start operating again. >> reporter: scott, thank you. as i sent it back to you, stuart, the ceo out with a study in 2019 about the impact, guess what? 1.3 million folks would lose their jobs, and household incomes wouldn't go up, they'd decline. back to you. stuart: first they're hit by the pandemic and now this. double whammy. thanks very much, gerri, see you soon. struggling business owners in california now suing governor newsom. angela marsden is with us. she is the owner of the pineapple hill is saloon and

grill made famous by her objections to a movie crew eating outdoors in a tent while her outdoor operation was shut down. angela is with us now. angela, you are suing governor newsom. my question is this: do you hope to win back in court what you lost to newsom's shutdown? >> i mean, obviously, that would be wonderful, but more to the point is holding him accountable. like, he has to feel the pain. he has to be held accountable for these reckless decisions that are not based on science. you know, i always tell everybody if you come into my bar, right, and you're celebrating a baby being born or a birthday and you drink too much and get in your car and drive, you kill somebody, you're charged with man thought arer. you're literally put in jail for man slaughter. now, you didn't intend to do that, right? you thought you were capable of drive doing. but you, we, us have personal

responsibility, and the politicians need to be held accountable. newsom, garcetti, they made some really bad choices. they should come out and apologize and say they're going to rethink things and they're going to open everybody up partially, because there's still places closed even with outdoor dining that have been closed for ten months. stuart: are you going to reopen to outdoor dining on friday? i think a lot of restaurants are -- [laughter] are you reopening -- >> i am. stuart: do you have the staff? in i'm reopening. stuart: have you got the staff of? >> you know, the issues are tremendous. identify got to deal with rain -- i've got to deal with rain, because it's pouring down rain. i've got to make sure electrical is working properly. i don't have full staff right now, so we're going to start with a thin crew but, yes, i am going to open. we're going the open on saturday. the other issue is, is that going to be taken away in a month, in two weeks? honestly, i wish we would have won the restraining order with a judge. i would feel more secure than being at the whim of, you know,

somebody's emotions. [laughter] stuart: by the way, is that movie dining tent still there? still serving? >> no. they actually closed up that day because there was so many news people that came they were just, i think, rightfully trying to get out of there, you know what i mean? and i'm not mad at the movie company. it's the people making these decisions, you know? stuart: how are you doing financially? >> i'm -- it's bad. [laughter] yeah. i lost over, over half a million dollars in revenue last year. i'm in debt about $300,000 trying to stay open. i'm extremely grateful and humbled by all the people from all over the world that donated, and that money literally gave me til april to pull through if we didn't get open. so, you know, it's always a balancing act. but it's interesting the $15 an

hour that you brought up, oh, we -- we're in a gradual pay hike in l.a. to get to $15 an hour. even our kitchen employees will get that wage. there's no tip exception on the wages. and we were already struggling before the pandemic. businesses were going out of business heft and right from the increase of the -- left and right from the increase of the minimum wage. and during the summer we actually had an increase to $1425 during this pandemic, and nobody mentioned it. not one politician brought it up. i can't imagine implementing it across the country. i mean, just look at l.a. county and what it's done to the businesses here, and that will give you a good look at what it will look like across the country, you know? stuart: angela, thank you very much for coming on the show and explaining what's going on in your part of the country and in your restaurant. we really sympathize with you bigtime. maybe you should run for office. angela marsden -- >> thank you. stuart: -- we are out of time.

i know you heard that. >> thank you. stuart: thanks so much, angela. >> thank you. have a good day. stuart: i want to see amazon, please, down $50 today. we got a report that says they are no longer the world's most valuable brand. okay. so who is the world's most valuable brand, susan? >> apple. the biggest company on the planet. and some would say it's about time, right in first time in half a decade that apple is back on top according to the u.k.'s brand finance survey. meantime, apple earnings tonight. i should remind you high bar being set after microsoft's blowout report card. we are expecting the first $100 billion quarter from apple and looking for about 80 million iphone 12s to be shipped during the holiday shopping period and 80 million and above would be blockbuster. tesla's the fastest growing bland in the same survey -- brand in the same survey, also reporting tonight. looking for a $10 billion sales quarter and delivery fore californias will be interesting because they met 500,000 in 20

to 20. will they get above 800,000 and, of course, the quality of profit as well. stuart: thank you, susan. moving on, the baseball hall of fame will not add any new players this year. and it's got nothing to do with the pandemic. we've got the story. we're monitoring the market selloff, and we're watching -- that means we're watching your money. john layfield will give us his take on what i am still calling the casino-like atmosphere on wall street. and we'll be back. muck don't come back no more, no more, no more. ♪ hit the road, jack, and don't you come back no more ♪♪

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♪ stuart: breaking news, important stuff. ameritrade is putting restrictions on gamestop and ark mc, two exceptionally volatile stocks. you got any more on this, susan? >> it's official, ameritrade is the first online brokerage

putting the clamps on investing in gamestop and amc. let's bring it up. they're talking about the mitigation of risk for our company and our clients. so don't forget, td ameritrade combined with charles schwab, so if they start doing this and putting handcuffs in place in terms of trading on these particular stocks, that means other investing and trading platforms will also step forward as well. it's interesting, stu, that the companies are stepping in and not the government. not the sec, not the treasury, but td ameritrade, probably the robin hoods and the charles schwabs of the world. stuart: well, they were in a position to act immediateliment i think there's a case to be made for immediate action. i mean, we can see this different ways. but when you've got gamestop up 144 -- >> what about free markets? stuart: i know, i know -- >> isn't that the philosophy of america? if you want to bet your own money, you're willing to risk it and if you lose it, that's okay, isn't it, in a free market

environment? stuart: okay. i'm saying they are reacting immediately. they're putting restrictions on immediately because they thought that they need to put restrictions on immediately to mitigate their own risk. i think they're entitled to do that. we may see some action from the csec later. i don't know that for sure, but they're surely going to be looking at what's going on. let me bring in john layfield here, our investor of the moment. john, are you happy to see this investment firm, t d/charles schwab, are you happy to see them putting on these restrictions? >> i don't know if happy is the word, stuart. i'm a little worried about it because i agree with what susan just said about free markets. you know, there's nothing wrong with speculation, and there's nothing wrong if you want to turn it into a casino. you just have to understand what the game is. there is something wrong, and i definitely believe this has crossed the line into collusion when you have people get on a reddit chat and you all decide you're going to push up a stock

to either go after the hedge fund that is shorting that stock or just to drive up the price. proving that, i think, is going to be next to impossible. there's a huge problem, in my view, with the collusion speculation, i think this is crossing the line. stuart: what about the federal reserve? fed chair powell, he speaks this afternoon. do you think he will or do you think he should weigh in on what's going on in the market now? >> i don't think he should, stuart, because i think this is going to work itself out. you have a repositioning right now in hedge funds which is one of the reasons you're seeing a selloff today of their long/short portfolio. and this is not a systemic risk. this is something that, like you have said, it's a gambling chip that people are putting down. nothing wrong with gambling as long as you know the game you're playing. this is not investing. but it's not a systemic risk, so i don't think chairman powell is probably going to weigh in on this. if he gets a question on it, he might address it. stuart: in this environment how do you put a value on a company? a stock? if you've got something like

gamestop bid up to $356 a share, that's clearly an invalid value. but what about the rest of the market? big tech, for example. how do you put a value on it in this environment? >> this time it's different, this time is not different. you've had speculation, i mean, there's nothing different about this. finish you have stocks that are out there that are heavily shorted, they don't have a lot of value, they're being driven up simply because of the short squeeze. and whether they're going after the hedge funds or going after price manipulation just to drive the stock up, it doesn't matter. i would stay out of those names completely. i just looked at my portfolio just to see how much percentage id had with the stocks i have to make sure that there's, make sure that there's nothing going to happen. i'm not short any stocks, i'm long stocks, but i want to be able to see price movements that are coming. stuart: yeah. fair point.

john, thanks for joining us. difficult day. fascinating day. we'll see you again real soon. shall we change the subject and talk football? super bowl? [laughter] coca-cola typically spends big bucks on super bowl ads, but not this year. budweiser's in the same boat. we'll tell you which brands are sitting on the sidelines for the big game and more on the super bowl. gamblers hedging their bets, but who will be crowned mvp? we have the odds next. ♪ ♪ i guarantee it's gonna be a hell of a ride ♪♪

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know what that sound effect is, but it sounds like it'ser near your house -- >> new york city. [laughter] new york city. thank you, mayor de blasio. you've made this city a cesspool. every day there's another siren. unbelievable. [laughter] stuart: do you believe this? that these big companies are taking their ads off the super bowl because of the pandemic? i thought it was because they didn't want to get caught up in controversy and politics. >> and you're right there, stuart. there's two factors here on hand, and let's break them down. you now have budweiser joining coca-cola, ford and others because of two reasons. one is the sheer cost of it, all right? a 30-second ad going to cost you $5.5 million. okay, so maybe that's not great optics with the whole entire pandemic, people out of work, maybe we could real rotate those -- reallocate those funds somewhere else. but there's another side of this, and that is they're worried about the feedback or the potential outrage that they

might get. now, stuart, i'm a millennial. i live on social media. social media a minefield out there right now. you say one thing, somebody's going to get a mad at you. you say something else over here, somebody's going get mad at you. these companies are worried about that. they're saying, hey, we're going to bow out, we're sitting this one out. but that's exactly what's happening. stuart: pathetic. okay, big matchup between the quarterbacks. patrick mahomes, tom brady. all right, guns, who wins? >> who wins the game? it's going to be the close. vegas has the chiefs as 3-point favorites. i believe the chiefs will be able to pull this out, but here's the thing, you can never count out tom brady. tom brady's back in the super bowl again, he's been to ten in his 20-year career, he's won six super bowls, the most of any nfl player ever, he's won four super bowl mvps, the most ever, and he's 43 years old.

so you've got the old gun against the young gun, patrick mahomes of the chiefs, 25 years old, was in kindergarten when brady went to his first super bowl. mahomes can do it all. he can run, throw, dive, he can do it all. i do believe that the chiefs pull it out, but this even makes it more important, stuart, for companies to get involved in the super bowl ad because it's going to be a sunday night. we can't do anything else. i think you're going to have a lot of eyeballs on in this game, it's going to go down to the wire. it's also going to be a great opportunity for these younger companies to really be able to get some, you know, get their creative minds behind it, come up with a good ad, make it go viral, get a hashtag, and you can really transform your company into really hitting it during the big game. stuart: you know, gunz, you ought to try decaf. [laughter] let's get more on what the bookies are saying about the big game to come. ashley, what's the odds here? >> well, let me just say the police are coming for gunz, so

we better do this quickly before he's taken awayment. [laughter] fair to say that the early money pouring in on the kansas city chiefs, chiefs are a 3.5-point favorite with 80% of the bets coming in on the side of kansas city. by the way, in eight of the last games, nine games, the chiefs have failed to cover the spread. that means they have failed to win by a predicted point margin. also the over/under line for the game is right around 57.5, the combined total of the game. patrick mahomes and tom brady going at it, you may want to go over. stuart: yeah, i will, actually. that's exactly what i was about to say. hey, gunz, turned/are over line is 57.5, i would go for the over with quarterbacks like this, yeah. over, are we agreed? >> yes. go over and see who takes the side of it. thanks, stuart. stuart: hey, gunz, thanks for joining us. see you again soon. quick check of the big board.

oh, we're back down again, moving south, -400 points. more "varney" after this. ♪ it's been a hard day's night, and i've been working like a dog. ♪ it's been a hard day's night, i should be sleeping like a log. ♪ . . . . .

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volatile stocks. left-hand side of your screen you can see why. gamestop is up 111%. amc up 172%. the market to me feels like a casino, very unsettling. the dow industrials down 458 and at this moment heading south. neil, it's yours. neil: you know what's so weird, stuart, you can i can remember this when we cracked down on short sellers because they would sort of bad market to get even worse, so in the last downturn almost a year ago, short selling was slowed if not stop. now the problem is, sort of frothy buying. so how do you control that? it's a whole new set of questions. i've been raising them. thank you, my friend. yeah. absolutely. what's weird too, stuart, when you think about it, it is a good conversation to have this notion who's right. short seller is betting on a