tv The Claman Countdown FOX Business January 29, 2021 3:00pm-4:00pm EST
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they walked from paris to versailles in a massive thunderstorm, rainstorm -- charles: got to leave it there. it was an amazing conversation. i really appreciate it. please come back real soon. thank you very much. now over to my friend liz claman. liz: wow. incredible conversation. by the way, i don't know if jeff gundlach has heard this, but robinhood has put a one share buy limit on gamestop. what do you think of that? charles: you know, i know they probably have some financial issues in the back. i think they have to bite the bullet and raise the money, sacrifice what they would have made on the ipo to keep their integrity and really, the promise they made to folks when they seduced them with free stock, the glitz, the glamour, the commercials. you cannot abandon these people now. you can't do it. even if it means they take
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personal financial hits, i think it's the commitment that was overtly promised to everyone who put their hard-earned money and trust into that app. liz: yeah. that's not the only share. they are limiting all kinds of other stocks. we will get that to you in just a minute. back on the offense today against wall street short sellers and they are chalking up multiple victories in the process. even while being hamstrung at this hour by new limits on trading by robinhood. online trading platforms once again allowing retail investors to buy their favorite heavily shorted stocks but again, one share only of gamestop. i believe 10 shares for amc. the list goes on. bed, bath & beyond, they are limited to just a handful of shares, if you want to buy them. but the reddit crew took out one of the most notable short sellers in an even bigger way. we already knew andrew left of citron research had waved the white flag saying you know what,
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i'm selling out of my gamestop short sale but now he says he is changing the focus of his entire firm. he posted this in a video this morning saying he will no longer make public his short bets. who could have seen all of this coming? we have thenostradamus, the professor who predicted this meltdown a year and a half ago. excuse me, did you hear this? is facebook jumping in trying to silence the little guy? we will talk to the millenial founder of the robinhood stock trader's facebook page after the social media giant shut that page down 48 hours ago. it's a fox business exclusive. plus shutterstock billionaire is here. he tries to convince more businesses and startups to get out of dodge and move to miami. the new silicon valley. wall street selling off on all the short squeeze drama on the
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final trading day of january. we have the dow jones industrials down 487, way off its lows. we have the s&p down 55. the nasdaq tanking, down 217. folks, it is already turning out to be a wild final hour of trade. let's get to this facebook story, because this is the new angle. did facebook use a trumped-up charge to mimic robinhood's misguided crackdown on the reddit rebels in order to muzzle one of the biggest trading voices on the facebook platform? wednesday morning, a 23-year-old named alan tran, the moderator of the robinhood stock traders facebook page with 157,000 followers, woke up to this. put it on the screen, guys. here's what he saw. quote, your group has been disabled because it goes against our community standards on adult
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sexual solicitation. tran says he has never allowed anything sexual on his site and bitterly complained, then without explanation found his page was back open and running today. what is going on? joining us in a fox business exclusive, alan tran, who runs his own education development community. thank you for being here. describe the last 48 hours or so, how this all began. >> yeah. of course. the past 48 hours have been absolutely insane. i woke up on wednesday morning to see that my group was disabled on facebook and it was disabled for soliciting sexual, you know, favors and whatnot. i was really upset regarding it. i did not know what was going on, and obviously, i never condone anything like that. we are an educational and just supportive community of stock
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traders, so to see this happen was really detrimental, as i have worked for the past five and a half years to grow this amazing platform of stock traders. liz: okay. well, right away, i have to ask you, what do you think is behind this? can i be very clear here, you have never seen or allowed anything sexual, this adult sexual accusation, up on the page? >> exactly. exactly. the group like it says, it is the robinhood stock trading community. we are there as a community of people who trade on the platform robinhood and obviously, we never condone anything adult-like, like that. yeah. we really are just here to educate and work with everyone to make them all profitable and successful on the market. i believe that this is either an attack between facebook and
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their censorship via wall street bets and trying to censor other communities that are actively being promoted, or by major institutions attempting to shut down other retail traders and retail trading networks to try and separate each trader to be individualized instead of work in a community environment. liz: that's a heck of a way to do it, by making such a serious allegation against you and your page. may i ask who you dealt with at facebook and by the way, i want to let our viewers know we have put in a request for comment from facebook. we have not heard back yet from them. what did they say? i'm assuming you picked up the phone or tried to reach somebody about this. >> yes. so unfortunately, with facebook's situation, they don't have too much assistance for situations like this. i had to contact as many people as i could. i went through the facebook support team, i went through the groups team as well as personal connections that i have with people that worked on facebook.
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unfortunately, through all of those means, it took over 48 hours to get the facebook group back online, and even after all of that, they simply have not told us why the group was taken down. the post that got us taken down, nor given us any follow-up regarding why the group is even back up. liz: hold on. that is crucial here. they have never provided you evidence of said allegation or post about this? this is crazy. what do you think is really at the heart? you just said you think that it's sort of an effort to silence the voices here but how would they have known? do you think they scraped looking for comments or at least lots of chatter about the stocks that have been heavily bought by the reddit crowd like gamestop and american airlines, blackberry which by the way, robinhood, we just mentioned, breaking in the last couple minutes, restricting all buys of
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gamestop shares to just a single share. >> yeah. definitely. so i think that that at least had to play a major part in everything as a large amount of the user base that we have, we are making tens of thousands if not hundreds of thousands of dollars by trading all of these big wall street bets names like gamestop, blackberry, nokia. i'm sure that facebook had their hand against the wall and had to do some sort of action because we are literally the largest community of robinhood stock traders -- liz: what do you mean, hand against the wall? pushed up against wall by whom? >> i believe that that has come from either the s.e.c. or brokerages themselves, because a lot of major institutions right now are upset with how retail traders are able to impact the market in such a heavy way with these large communication
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platforms being able to congregate all of their information and ideas into making one specific trade with, you know, themselves and as a group to positively impact their trades. liz: okay. but the page is back up and running. miraculously suddenly reopening, with no explanation. am i correct on that? >> exactly. exactly. i woke up this morning at approximately 6:00 a.m. eastern and i saw that the group was back up and man, what a time. what a time. liz: wow. listen, we are going to keep in touch with you. i want to know anything that develops. again, we have invited facebook to comment on this. we have not yet received a response. when we get it, we will let our viewers know it. allen tran, thank you very much. this reddit story may seem relatively new to the world but in just a few moments, columbia
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law professor made an exact prediction that this situation would unfold and he made the prediction more than a year ago. now, how does he predict it will end? he joins us in just a few minutes. meantime, as the stocks at the center of the reddit army short squeeze companies get all the attention, what silently screaming stock buys are out there that investors may be missing even as we see a selloff here in the broader markets? to our floor show traders. kenny, give us the high quality names, one, two, three of them you see right now that have dropped to what you say or believe are very attractive levels. >> listen, i think there might be more to go but names that i like, bank of america. i like the financials. i have been saying that for a while. they have taken 13% out of bank of america, maybe a little more in the last half an hour but it's come right down, tested its trend line. it's supported there, it's finding support. i like the banks going forward. bank of america is one you are going to buy down 13% from a
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week ago. crowdstrike, crwd, is another one. they took that down 18%. that's up in a down market, as money goes searching for some of the values out there. some names that have been arbitrarily dislocated. so therefore, investors are buying value there. liz: okay. i'm looking at these one-year charts and while on the far right part of it, we do see that they have pulled back just a bit. i mean, really tiny pull-back. don't you want to wait for a better entry point? >> i mean, look at crowdstrike. crowdstrike is up in a down market, right? what's the market down right now? 500 points on the dow? crowdstrike which was lower all day is now up on the day. i actually think there's a bigger story there as we move through this year. crowdstrike is a new name for me. i have been looking for a place to get in. at some point you are not going to blow it all in one transaction but some point, you
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got to start dipping your toe. i like it. i'm in it. i want to stay in it. bank of america, i have been in. jpmorgan, i have been in. i will continue to be in those as i see some of the pull-back. i don't think the market's going to crash by any stretch, so you got to pick and choose names that you like. liz: yeah. well, all right. scott bauer, what names do you like? you want to talk about a stock that has been up in a down market today, again, names like gamestop and amc are getting absolute unbelievable attention, but there have got to be other names you feel are really high quality that people are ignoring and that's precisely when you want to snatch them. >> there are, and i believe with the same kind of methodology that kenny was just talking about. my number one is chewy. we can look at chewy, they don't have positive earnings yet, it's absolutely been completely vertical, but it's on the cheap now compared to where it was just a couple weeks ago. this hundred dollarish level to
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me is a really important level. after we reopen down the road, this stock is still going to be number one in its class i has the name brand to it. i love chewy on the pull-back. number two, i love microsoft here. here's why. for about the last six months, microsoft traded in a very, very tight range, almost like what amazon has done, traded at a very tight range and just post earnings, this thing busted out of its range to the upside, has now pulled back to the top of the range that it's been in. i think this is an absolute opportune time to get in microsoft even though it's trading at lofty levels. >> i love microsoft. liz: kenny's like i love me some microsoft. have a good weekend. as we said, it is the last trading session of the month. we are watching each tick of this market for you.
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we've got at the moment the miami magnet, businesses fleeing high tax states are moving to miami. that's not necessarily news. but silicon alley's first tech billionaire has just pulled up his manhattan stakes and is already setting up an incubator he hopes will turn south florida into silicon valley. with the closing bell ringing in 47 minutes and the dow swooning, down about 451 points, we are watching major moves here. the billionaire founder of shutterstock on his startup plan for the sunshine state is next when "the claman countdown" comes right back.
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liz: quick check of the s&p. down 52 points, with about 48 minutes to go before the end of trade. miami just got showered with a huge pile of money that's only reinforcing what appears to be its massive transformation into the tech hub of florida's gold coast. softbank capital's president along with miami mayor announcing the japanese conglomerate, softbank, will pour $100 million into a miami
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tech fund which will support local businesses and tech startups relocating to the city. jon oringer is ten steps ahead of them. the founder and executive chairman of shutterstock was the first billionaire of new york city's silicon alley but he just moved to miami to found a startup incubator. jon, great to see you. thanks for coming on the show. boy, here you've got softbank throwing in a bunch of money. tell us exactly what you think is happening when it comes to miami as a magnet. >> yeah. it's been super-exciting. i think it's an amazing place to do business, to start a business, to run a business, to have an office. it's a business-friendly environment. the mayor has been incredibly welcoming. he's also been engaging with us on what we need, how we can make this an even better place to do business. it's obviously really international, diverse place, and it's an energizing
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environment to be in right now. liz: i mean, the shutterstock story alone, how you started by walking around manhattan taking pictures with a canon rebel camera, starting this website to start of democratize photography and making sure that photographers got paid and people had access to great images is amazing, but it made you a billionaire. why do you go down to florida and then put together an incubator that you will actually, as i understand it, put a lot of work into by mentoring these new startups. >> yeah. well, it's a combination of an incubator and investment vehicle. we made about 100 investments in businesses all around the world in the past year or so. by the end of 2021, we will make 100 more. also, in that same vehicle, we are starting to incubate some businesses. we are looking at the areas of
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investment, we are finding operators that could be good ceos of these businesses and we are doing it right here in miami. i think it's a great place to start a business. everything has been disrupted in the past year, with everything that's going on, and it's gotten us all rethinking where we want to be, how we want to work. work has been completely disrupted and i think this is the type of environment that's here to stay. might as well pick a great place that has a lot of ambitious people. we are finding and doing some amazing things here. liz: yeah. there's talent, obviously, in that surrounding area, not to mention a nice tax structure for the state of florida. but why not austin? that's where elon musk is going to go hang his hat when it comes to the new giga factory. >> yeah. there are several places around the country to start a business. i think miami's great. look, i came from new york. i spent 30 years building shutterstock and many other businesses in new york.
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i think these are all great places to start a company. for us, moving my family here, we decided this was the place to be for now, and it's been great so far. liz: you were the disruptor of stock images out there, and i am sure that the big boys were out there trying to squish you. what do you as an entrepreneur who started with nothing and went up against all different companies and the competitors came in. what do you think of what's going on with this reddit chat room situation, the wall street bets and now as we just reported, within the last hour, now you've got robinhood, the online app platform that they all were using, limiting to a single share the ability for the retail investor to buy gamestop and some of these other names are limited to just three shares, while wall street gets to continue to bet against these companies? >> yeah.
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this is a really complicated subject, obviously. free markets are free for a reason. anyone should be able to buy or sell. when you start introducing these restrictions, there are unintended consequences. there will be consequences that we don't even know about yet. i mean, look, trading funds trade on momentum so retail investors should be able to trade on momentum as well. what's going on right now -- liz: yeah. >> -- with gamestop is that the valuation is divorced from the actual fundamentals of the company but there is a momentum play going on. if people want to play that momentum play, they should be able to. i think what retail investors need to be careful with is that they should think about who's on the other side doing that trade, because if it's a very sophisticated investor taking the other side of that trade, then they may have more information, more capital, more resources than you, and i guess
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the whole class warfare thing, but i would be careful because at the end of the day, you can lose a lot of money doing it. liz: yeah. but you know what, so can wall street and they have actually had some success and a few victories in taking down the very targets they feel have been unfair. it's just incredibly amazing developing story. jon, great to see you. >> nice to see you, too. liz: founder of shutterstock. he's moved down to miami and starting that incubator. he's going to bring startups there and guide them to success, we hope. good luck. bill gates has funded novavax, and is taking the lead as one major name falls behind in the vaccine race. the numbers and the names you need to know for your portfolio and for your health. we've got your score card next. with the closing bell ringing in 36 minutes, s&p down 50, the dow losing 428. please remember, we had been
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liz: fox business alert. you want to see the real pop stock power of a single twitter hash tag? look at what happens when it's attached to the world's richest man and his name. bitcoin getting its mojo back at this hour after elon musk put #bitcoin into his twitter bio. some market watchers are concerned the tesla ceo might be moving the market a little too much with his twitter statements after today's bitcoin bonanza. what do i mean? it's up to about $34,471. don't forget the reaction he got to his game stunk tweet from earlier in the week in support of the reddit rebels. that got gamestop spiking. we do have bitcoin up at its
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high today, more than 15%. bitcoin is leading a crypto charge over the past 52 weeks that now has trading platform coin base looking to burst out on to the public scene but in true disruptor fashion, the crypto firm is choosing to forego a traditional ipo and 2020 spac craze, not even going that route, for a direct listing instead, which means it won't be issuing any new shares or raising any new capital in its market debut, and in many cases, direct listings leave out the big wall street investment bankers. blockchain stocks moving in lockstep with the ups and downs. riot block chain popping into the close by 2.5% and not to be outdone, newer crypto player dojcoin which some call a meme coin because of the little face on there, is getting swept up in the reddit rebellion.
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the self-proclaimed crypto version of wall street's crypto bets has a 600% jump in the digital token at one point today. i'm just checking it now. it's up like 100%. it's really just pennies here but please keep in mind this is very volatile. crypto, not the only sector on the move. news on covid-19 vaccines has novavax surging. j & j trailing at the bottom of the dow and astrazeneca is moving lower by 2% despite approval to get used in the european union. to cheryl casone in the fox business newsroom. a lot to unpack. cheryl: lot of breaking news. first let's start with the latest on the novavax vaccine trial, results of that trial now showing 89.3% efficacy. many analysts had said as we watch these trial results cross that anything above 80% for any of these companies is considered a win. novavax's ceo earlier telling fox business they have actually, well, done better than that.
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listen. >> the prototype strain, the original strain, we've got 96% efficacy. it's just a terrific result. it's what we had hoped for and expected. but we got 96% protection. then the strain that has mutated slightly showed 86% protection against that. cheryl: novavax was one of six vaccine candidates supported by operation warp speed last summer and has been running trials in britain, south africa, the united states and mexico. not doing better, though, in fact, kind of a disappointment depending on the metrics, johnson & johnson. the results data from its covid vaccine candidate which is one shot, not two, can be easily stored in refrigerators, coming in with mixed results. overall, the vaccine has 66% efficacy rate. stock taking a dive on that news, again, before the markets opened earlier, it is really
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sinking to the bottom of the dow jones industrial average amid this broader market selloff, but there's johnson & johnson right now. it's important to mention they've got an 85% efficacy at preventing severe disease for j & j but when tested against the new south africa strain, only 57% effective. the company plans to file for emergency use authorization early february, possibly -- well, that's next week, if you look at the calendar. as for astrazeneca, despite the eu giving the vaccine the go ahead for use, the stock not really seeing a big bump. as you can see, down 2% right now. they said they are going to be delivering much fewer doses than originally expected due to production issues. clear winner, the companies with vaccines that are already out in distribution that are going into people's arms. taking a look at moderna and pfizer and biontech, still kind of the clear winners in this race to get people around the world vaccinated.
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back to you. liz: if we can just meld gamestop locations with vaccines, boy, you got a really surge. cheryl, thank you very much. crucial important information, especially for people's lives and portfolios. with class action lawsuits now piling up against robinhood for restricting the reddit rebels' stocks trades, the columbia professor who saw the rebellion coming a mile away is with us. more than a year ago he predicted the role social media could play in a market revolt. as the lawyers get brought in, we ask whether the reddit army has a chance of winning and his prediction now on how this all ends. closing bell, 26 minutes away. we'll be right back.
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(naj) at fisher investments, we do things differently and other money managers don't understand why. (money manager) because our way works great for us! (naj) but not for your clients. that's why we're a fiduciary, obligated to put clients first. (money manager) so, what do you provide? cookie cutter portfolios? (naj) nope, we tailor portfolios to our client's needs. (money manager) but you do sell investments that earn you high commissions, right? (naj) we don't have those. (money manager) so what's in it for you? (naj) our fees are structured so we do better when you do better. at fisher investments we're clearly different. liz: fox business alert.
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this news just hitting the tape. texas attorney general ken paxton announcing all encompassing investigations into robinhood and the chat app discord along with citadel financial and a slew of other funds and trading platforms who quote, rigged the free market. paxton is saying quote, our economy should be transparent and open. this of course coming in reaction to limits placed on retail traders on platforms like robinhood starting about 48 hours ago, but robinhood, can't say is not really backing down but they are doubling down. at the top of the show we told you that now new limits are being placed on some of the reddit rooms' top rebel causes. now there are buy limits. you can only buy one share of gamestop. they are limiting shares of amc to just 10 shares to buy. you can only buy 5 shares of american airlines. then they have thrown advanced microdevices in there.
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i don't know why. that only is a 5% float that's being shorted here but you can only buy one share of those, and you can only buy five shares of blackberry. you can flip it over. they are limiting bed, bath & beyond. you can only buy one share of moderna, 20 of nokia, three of workhorse. while the gamestop short selling saga continues to unfold and as you see, news breaking minute by minute, this question has to be asked. who could have seen this coming? team "countdown" wanted to show you this. well, it is an excerpt from a columbia law and economics working paper and it says in part quote, the rise of social media platforms like twitter seeking alpha, reddit, @set remarks has led to broader, faster transmission of market-moving information. today, anyone can post opinions and draw attention to facts concerning publicly traded companies, which may have a profound effect on stock prices.
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folks, this is exactly what is going on right now, but let's check the data when this was written. this paper was published on october 28th, a year and a half ago. 2019. so we said track down the author and we are bringing him here. joining us now, associate professor of columbia law school, joshua mitts. professor, what did you see coming that told you let me write up this paper, because i think this could really have a massive earthquake in the world of trading? >> thanks, liz. it's great to be with you. i think we're witnessing a technological revolution that began nearly a decade ago. in earlier work, i documented that short side hedge funds were manipulating stock prices to the tunes of tens of billions of dollars, destroying the savings of retail investors who had put
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their money in public companies. as i dug further and further, i started to see the role that social media is playing here in igniting, if you will, lighting the fire, igniting the dynamite that leads to the sort of phenomenon that we're seeing today. we are living in a world where a post on a platform like reddit combined with sophisticated trading machinations can lead to consequences that would have been unfathomable just a few years ago. i don't think anyone could have imagined that we would be seeing what we saw today with gamestop, but this is just the latest iteration of what has really been a decade of taking advantage of investors, sophisticated algos, wall street professionals, hedge funds that are masters at this taking advantage of retail investors. liz: professor, did you ever think that the little guy would
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band together in an army such as what we're calling here on "the claman countdown" reddit rebels, and actually win until, of course, they were shut down from trading? >> it's really hard to fathom how, you know, ordinary investor in our markets must feel right now, because what we saw as you said, is a rebellion against the short side hedge funds that had been driving down share prices. this was true with gamestop and many others. then just as those ordinary investors who had come together to say no, we believe in the fairness of our markets, just as they were trying to continue to invest, here comes wall street again, applications like robinhood that so many had relied on shutting down trade. no prime broker would dare to shut down a hedge fund's ability to close out or open positions
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for its customers. the idea that this would be -- it wouldn't be tolerated for a minute on wall street, yet it happens and is still happening to ordinary investors. liz: let me jump in and show what happened when robinhood shut the door and slammed it on the fingers of these reddit rebels. we can show the volume. let's start with showing volume from wednesday to thursday. if you guys focus on the wednesday, this is trading volume in amc. 1.25 billion shares volume traded. but then overnight, you had robinhood crimping their opportunity to buy and it fell to 591 million shares. they couldn't do anything with it. you could flip it over to nokia and some of these other names and you can see from wednesday to thursday, massive dropoffs. nokia was 1.1 billion on wednesday in trading volume. it fell to 675 million because
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robinhood wouldn't let them trade. as a law professor, there are now, as we said, a bunch of class action lawsuits that have been filed, the texas a.g. just announced he will look into it. you tell me, does the reddit crowd have a chance of winning this? >> well, i'll tell you, the lack of attention that the s.e.c. from a policy standpoint has been paying to this issue is really what's most surprising to me. i mean, now as you said, maybe there's hope. but i and 11 other law professors nearly a year ago filed a petition where we asked the s.e.c. to put in some basic rules of the road for social media trading. you know, saying look, we need to have honesty, we need to have transparency. we never heard from them. it's been almost a year. and i think what this shows is that perhaps, perhaps this is a moment but regulators have largely been asleep at the wheel. we saw this in 2008.
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we're seeing it now. as you said, perhaps now just because of the scale, there's hope that something will change. but the s.e.c. has largely been asleep at the wheel when it comes to changing the policies that could protect retail investors on social media. liz: professor josh mitts, thank you so much. we'll be right back.
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showing no sympathy for hedge funds. you just heard the law professor from columbia, joshua mitts, saying can you imagine if one of the broker dealers shut down a hedge fund's ability to trade? yet they're doing it to the reddit crowd and i can tell you, neither do a bipartisan pot of lawmakers sympathize with the hedge funds. you could throw a few people here, you never see them together, aoc, ted cruz, rasheeda tlaib, marsha blackburn and ro khanna are speaking out against what they did, limiting the retail investor from buying shares. charlie gasparino has more developing news. charlie: the professor was wrong about the prime brokerages, just so you know. totally wrong. here's where he was wrong. what was one of the precipitating factors in the 2008 financial crisis?
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it was that -- liz: bear stearns couldn't -- charlie: lost money from their prime brokers. people were pulling out of their prime brokerage desks, they were pulling money out and it was depleting capital. and they refused and others refused to trade with bear stearns, with lehman brothers, with merrill, increasingly citigroup. you can go down the list. morgan stanley, goldman sachs, all of them. there's famous quotes of gary cohn threatening hedge fund traders who wouldn't do business with goldman sachs, pulling money out of goldman sachs, saying they didn't trust the book. don't tell me this is just the retail investor can't trade through robinhood, they are doing something outrageous. firms trade with who they want to trade. they can trade -- liz: it happened once because of big boys. once during the financial crisis, charlie. charlie: you understand the difference? liz, the financial crisis, you're comparing that to this?
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that literally led to the implosion -- liz: you are comparing it. charlie: the professor and you were wrong. you're saying wall street firms never do this to each other. they do it to each other all the time. okay? bottom line with robinhood, this is why these class action lawsuits are going nowhere, is that it could pick and choose what stocks it can trade or wants to trade based on its financial conditions, because robinhood, like any other platform, has to settle trades. it needs capital to settle trades. when you have this much volume in settling trades on 13 stocks, you can't -- it's very hard to settle those trades. impossible. that's why they stopped trading them yesterday. that's why today, they put limits on the type of trading you're doing and that's why robinhood went out there and basically borrowed $1 billion so it could have capital to settle trades. robinhood makes money by trading
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stocks, by having people trade stocks on its platform and selling that trading -- those trades, that order flow, to broker dealers. the more people trade, the more money they make. this is an absurd -- this class warfare thing is absurd. the good professor has been locked in academia too long. he doesn't know what he's talking about from a wall street level. the other thing is, i will tell you -- liz: he predicted exactly what is happening right now, charlie. he predicted social media would cause an upheaval and that is what we are seeing. charlie: i don't care. he doesn't understand wall street. he doesn't understand how trading works. he doesn't understand how the plumbing of wall street works. the new york stock exchange can shut down trading if it has to. that causes a huge problem, by the way. when the new york stock exchange can't match, when you can't get pricing out of the new york stock exchange, we know that's happened in the past. it happened, people lost money. it happened because its systems
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weren't working. it had to do that. same thing happened here and for him to suggest anything else, and by the way, these class action lawsuits are going nowhere because that's exactly what happened here. by the way, when you sign up for robinhood, read the fine print. they can do what they did here. liz: what he did know, charlie, what he did know is we have come up against commercial break. that's exactly what's happening now. charlie gasparino, thank you very much. yeah. we'll fight later. we'll be right back. my retirement plan with voya keeps me moving forward... even after paying for this. love you, sweetheart. they guide me with achievable steps that give me confidence. this is my granddaughter...she's cute like her grandpa. voya doesn't just help me get to retirement... ...they're with me all the way through it. come on, grandpa! later. got grandpa things to do. aw, grandpas are the best! well planned. well invested. well protected. voya. be confident to and through retirement. don't worry, julie...
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liz: two minutes from the closing bell we do have a sellout for the month the dow, s&p 500 are facing the first losing month since october, the nasdaq is up for the third month in a row. i want to bring in our friend todd bubba horowitz, he teaches people how to trade, tell me what do you think is going to happen in february after a
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tumultuous january? >> how are you doing, i think we are starting to set up as a potential short-term chop in this market. all the crazy stuff going on, gamestop is the big story in charlie is wrong, you are right. liz: thank you. >> you are getting crazy moves in stocks, obviously some are very heavily shorted in the straddle of gamestop was more than a stop itself. what we are seeing what happens towards the end of a big run, we are up 60% since last march. this is a pretty big run and redo of a fallback, this time will be much more conservative with what you're investing but still investing. liz: you like philip morris and by the way silver has an incredible runner. i am right, do not compare what
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is happening in a reddit chat room to the financial crisis nearly took the entire system down, you bet they were going to shut those guys off from trading. that will do it for "the claman countdown" program the dow down 628. read on the screen it is time for "after the bell". connell: it is been a crazy finish to a crazy week, the frenzy continues withail inveinorves bidvessng backu b meop astop t otock s weewe b'vn w'vch wing wit tithe ds wuneerting agangstng n theowow rulategor are g,ll t'she l'sotot goi goi g o n we wilweilet a af o that, tt,hee gosg nbe nrsum t the dowhe dhele do t it wasown d47-pointehe si ssi tay, eh th&pown 73 wsearlrly 22%.2%. and eanvedn eve e 2%, 2-poi-p lr e wek, the
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