seeing here and i think all the news and all of the different packings and everything going on right now, it's going to show the world how important this sector is. if you look at a weekly chart, the cybersecurity eps, you can see a really nice pullback, consolidation. charles: we got it. >> yes. yes. charles: we got it. danielle we got to leave it there. ryan used all your time for his own commercial. danielle, ryan, see you later. liz it's up to you. liz: oh, boy, i know. look at this , what a crazy volatile session its been, markets right now in the red the dow just turned negative again on wall street, at this hour, moments ago, we are putting five day winning streaks in jeopardy with these numbers, dow is down 24, s&p down 15, the nasdaq flagging 136 points to the downside but the meme stock mania is still going full force, as we enter this final hour of trade, amc charging back

after falling 33% earlier in the session. the reddit levels taking the shirts off the backs of the wall street this week, yes it's still down but just by three points right now. we've got our floor show traders getting in front of the cameras to ask whether the short seller trade is dead. new york transit systems the latest victim of foreign hack attacks. we're going to take you straight to capitol hill live to find out what the country's national security experts are telling the business world, here in the u.s. , we're talking about big and small corporations, how to keep the hackers out. hacking not the only national security issue affecting big business. we've got exclusive interviews with the ceos of two companies caught right in the epicenter here. we'll talk about china's dominance of the rare earth market and with the ceo of mp materials, they own the only rare earth mine in the u.s. , and the acousta ceo is here to tell us how his

company is helping congress act to put an end to the semiconductor shortage and his specific semiconductors are for 5g and your smartphones, plus the sonic boom heard around the world. the boom ceo is here on his new deal with united airlines, to fly passengers on a supersonic jet from newark to london in just under three hours. folks, could the concord be re emerging in a different form? we'll be watching. >> breaking news we've got to begin with this the nation's largest transportation system is the latest victim of a hack attack. new york's metro transit authority saying it was able to stop the attack before any data were compromised but this comes following that jbs meat company attack. u.s. meat suppliers were shutdown on this hack attack and now national security experts say a russian-linked cyber crime organization named revil , like

russian evil is responsible. last month's attack on the colonial pipeline where hack ers used a ransomware attack to shutdown a key pipeline for more than a week, that too, suspected to be pointing at russia. well now, the biden administration's national security advisor sending a warning to all u.s. businesses saying "all organizations must recognize that no company is safe from being targeted by ransomware, regardless of your size or location." let's get to hillary vaughn, live on capitol hill with the latest from washington. this is a major major deal, isn't it? reporter: it is, liz, and white house press secretary jen psaki referencing that memo in the briefing today, but she made it very clear, it is the responsibility of private companies to be responsible to not only protect themselves and their company from cyberattacks but by extension, the american people and the u.s. economy, but business groups are taking issue with that, saying the past two

attacks like the colonial pipeline hack and now the jbs meat plant hacks clearly with ties to russia whether or not sanctioned by the russian government, make it very difficult for u.s. companies to be on the front lines of this out alone. the u.s. chamber of commerce vp of cyber telling me today they think the federal government needs to take an aggressive posture to deter hackers from even targeting u.s. companies to begin with. >> the white house wants to raise pressure on other countries that may have ransomware operators operating from their jurisdictions, but it is challenging, because many times these cyber criminals are operating from countries that are not doing enough to stop them. they are not cooperating with u.s. law enforcement. reporter: that was actually the cybersecurity and infrastructure security agency director brandon wales, in that sound bite he told me today, basically, that while the white

house and president biden say they're going to raise this issue in-person, with president putin, this issue of cyberattacks coming from russia, it is very difficult if putin doesn't want to play ball and does not want to cooperate and i don't know if we have the sound bite from the u.s. chamber of commerce, so i'll talk to that now, thanks. >> no company is going to be able to defend itself against a determined nation state actor, or a very sophisticated threat actor that is basically operating either with explicit consent of a nation state. reporter: and liz, the bottom line, the acting director of brandon wales telling me today that this ransomware attacks are now an epidemic in the u.s. and that essentially, no company, no sector of the economy is immune from this , and they're trying to do their best to provide resources to the private sector but liz when you have 80% of u.s. infrastructure essentially controlled by a private company

it's very difficult, and what the federal government can do is very limited. liz? liz: yeah, maybe that's why these cybersecurity names are all down, because they're not working, at least not in many of these major cases but again, focusing on the small business is very important. hillary vaughn, thank you. so what do the russians close to vladimir putin have to say about these accusations swirling around? russia being at the center of these hack attacks? putin's banker vtb bank chairman andre costin is here in a fox business exclusive on the tensions between russia and the u.s. , as cyberattacks seem to become a daily occurrence. that's tomorrow at 3:00 p.m. eastern. i stress that you all should really tune in for that interview. andre costin is a colorful and powerful figure in russia and we have him exclusively here. got to get to this amc drama. oh, my gosh the feeding frenzy yesterday, remember it was up 95

%? well we have such volatility at this hour, once again, the movie theatre giant shrugging off its earlier losses after its $11.5 million share offering announced today raised $587.4 million additional capital. shares have been down more than 30% at session lows and that would have been just around 11 a.m., as you can see now, down just 8%, because the reddit revels are still very much in play, these reddit room meme stock players sweeping in and trying to crush the short sellers. this comes after the stock spiked as i said, close to 100% yesterday causing those short sellers to lose more than $2.8 billion on paper yesterday alone. more than 4.5 billion over the course of eight days. with currently 23.9% of its float shorted, both raymond james and jefferies announced they will be blocking short

sales of amc. this is significant. remember during the previous drama with amc, you had robinhood blocking companies and people who wanted to buy shares. well now, jefferies is shorting shares, blocking the short sale of game stop and microvision as well, while raymond james is banning buying amc on margin. okay that's different. that's where you borrow money to buy more shares so how risky is this short trade right now? let's get to our floor show traders sarge guilfoil. make your prediction just how long can short sellers hang on, right this very minute looking at amc shares trying to punch back into positive territory after having been down more than 30% which again squeezes the shorts. >> well they can hang on for as long as they need to hang on as long as they're also trading the stock today. i, myself, have had no trouble shorting the stock today. i've been in and out of this stock all day long, and i'm sure a lot of other guys like

myself are, and if i was a hedge fund trader with a lousy position in this name, i be day trading this schiff all day long , in order to improve my daily p&l so that my overall p&l takes less of a hit. i don't believe the numbers are as bad as they are being reported in the papers, the total losses because i believe this is what guys are doing unless they did not learn from melvin capital about a month or two ago which i would find that hard to believe. if any hedge fund trader did not protect himself or did not learn to trade in a different way, after that debacle well that guy needs to be fired. liz: well, we're looking at amc up 524% over just the past three months, kenny. there's some other names here that have just squeezed the short sellers and that be blackberry and not to mention game stop, which has been a big one, and then there's one of the newest meme stocks, workhorse speaking after catching the attention of retail traders on reddit. more than 41% of work force's

shares is shorted. should investors beware or has the reddit crowd proven its muscle in these situations? >> well i think it's fascinating to watch how this whole thing unfolds because certainly, whatever is happening , yeah, it is whatever is happening in that reddit room , whatever conversations that i'm not in the reddit room so i have no insight into it but clearly whatever is happening in that reddit room is certainly gaining enough momentum and its fueled this mania, right, which certainly in any of these names that we're talking about, i be cautious to take on a short position and then just leave it like sarge just said if you're playing from the short side you need to trade it. if you were short last night and you came into today you held it until the low of today you made 30% of your money. liz: but kenny, why haven't the shorts cried uncle at this point? i know some have but not everybody.

i mean, yesterday was 21%. now it's 19%, so big chunk of them are still in play. >> some of them have, in fact, cried uncle and other ones that just put their feet in the ground and say no i'm going to play from the short side just the way there are people that play the market from the long side, right so they are short sellers but like sarge also said you have to be very very disciplined if you play it from the short side. play from the long side too because the opposite could happen, you go long as well, so you have to be disciplined as a trader to play it from either side but i don't think the short trade is dead by any stretch, but i would say if you want to play in those meme stocks, i be very cautious to play it just because whatever mania is happening in that reddit room, is causing these outsiders look at this , amc was up like you said almost 100% yesterday, to float amc is 498 million shares, it traded over 700 million shares yesterday. >> i will add this. i will add this. liz: sarge super quickly, really

quickly, sarge. i did converse over text with adam aron, the ceo because i asked him come on the show and yesterday he said he can't i've got some announcements to make that are material to the company so he couldn't appear on television and now we see today what that was. the big capital raise, but also, the company has warned that this is a very volatile stock, and again, the specific warning was you can lose money here. >> and they're right. >> basically told folks not to buy it, right? i actually admired him a little bit for that. what i wanted to add to what kenny just said, i think that -- liz: quickly. >> the large short position as an investment, that's an endangered species. you're still going to see guys like me and specialists on the trading floor of the new york stock exchange who will use short positions for reasons of liquidity but for reasons of long term investment, that's endangered. liz: got it. all right right now, amc shares down just 9%, after having been

lower by 30%. kenny, sarge, great to have two highly experienced traders on this very subject. thanks so much guys. cyber hacking not the only national security issue affect ing big business. china dominates the refining of rare earth min quality minerals needed for everything from fighter jets to electric cars but one company is digging deep right on your screen to put america back on the map. mp materials ceo runs the only rare earth mine in america, his stock is up 216%, and he's here, next in a fox business exclusive closing bell, 47 minutes away, dow just turning positive by one point i'm telling you guys, this is a majorly volatile session, you've got to stay with me. "claman countdown" is coming right back.

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liz: the biden administration has just completed its 100-day review of supply chains, absolutely crucial to the nation 's safety and security. among the top of the list? rare earth minerals. these are used in everything from cancer treatments to iphone s, vibrating alerts to

fighter jets and drones. right now, china is the dominant rare earth supplier and refiner. the u.s. , we have only one rare earth mine, it's in mountain pass, california, which produces the elements neo dimiom, these are the two elements used to make lightweight magnets that power electric vehicles and wind turbines and that mine is owned by mp materials which went public via spac in november. the company produces 15% of the global supply of rare earth. it must send what it's mined though to asia to be refined. that may change soon and they are already in the beginning stages of refining here in the u.s.. here in a fox business exclusive , we're joined by ceo and chairman of mp materials, james latenski. james, when and how might that really change when it comes to refining rare earth? >> sure, thank, liz it's nice to see you again and i was

impressed that you pronounced out neo dimiom which most people have trouble with so it's great. if you buy a tesla or an iphone the magnets inside those , those are made in china, and the mission of our company is to restore that full supply chain, the united states of america so that the large companies that are producing those products that you know have the option to have an american supplier and that is our mission, and we are well on our way, by next year, we'll be making separated rare earth. we currently sell a concentrated product to china where magnet makers sell it on to tesla, apple, gm, et cetera but we've got most of the equipment on site. a lot of it is operational and we're optimizing it so that we can below cost producer if not the low cost producer to the world. liz: well the biden administration sees you as worthy of major national

security protection, because of this sort of bifurcated split, where you're mining them here, a lot of it is going to china. what would you say to the u.s. government about what your industry, what you would need, to truly protect and grow rare earth production here in the u.s.? >> well, so in our conversation , the biden administration certainly understands that we need to have a commercially-viable and environmentally-friendly industry, and mp materials represents that. we recycle water, we could go on and on about the environmental attributes of our site. we operate in california but we're both a low cost producer to the world and environmentally friendly, and so i think we really hit on a lot of those important values in the west of having an industry, but also doing it on our terms, but liz, one really important thing, and i think this is, i'll give you the info on what we're really stressing to the administration and industry is that the rare earth industry alone that's not enough. the rare earth industry we could have all of the rare earths in

the world, in the united states of america. we would still be sending the separated rare earth to china to make magnets to then sell to our companies, right? and so we hear a lot of people talking about china 2025, but really, the new front is china 2035, standardization, and we need to start thinking about the upstream of the supply chain so our mission as a company is to go beyond the rare earth and to make the magnets so that the great american or other companies around the world have a western supplier for these critical goods. liz: well i get it but you just said western supplier. we just saw, in reuters, that report that appears to be kind of self-defeating on behalf of the biden administration, which announced that it be buying a greater part of the rare earth materials from allied nations. to placate the environmental concerns that come from specifically what you just discussed. isn't that problematic? i mean, did that not kind of

deflate you guys? >> look, i think we have to parse through a variety of political and economic interests of sort of people in the system. from everything that we've seen in the conversations we've had with the administration, the point that it needs to be both a commercially-viable, and environmentally friendly industry here in the west, and specifically in the united states, is something that at least from our perspective and every conversation that we've had with them that they understand, and so you know, again, i think that there are a variety of competing interests and that is good. there are folks who may not have a commercially-viable business, and are out for other things, but our mission at mp is to make sure that we can actually fulfill that goal and that's what we're up to, and so we think the administration supports us and that goal and we're moving forward. liz: the tech demand, specifically, for the past year and during the pandemic, has lit a firecracker under the need for

these 17 rare earth elements what has your world been like this past year? >> well its been exciting, daunting, and, you know, i think we all at mp recognize how important our mission is and liz , i think it's important for americans to understand, when i go back to this point about china 2035. we are strategically, we need to understand that this is not about rare earth's anymore. it's really about industrial leadership and the electrification and decarbon ization industries, and so if you go back to the auto industry 1.0, led by henry ford, the river plan and ford had 100,000 people and they were all the way upstream. they mined thes ore that got made into the steel that went into the auto and you've seen some of that from industry leaders but that is the direction that china has gone and moved downstream. liz, look at the new york stock exchange today, whether it's neo they have companies that are worth as much as gm or

ford, and so the chinese are great competitors, and i think we need to compete ourselves and it's not just about one industry it's really about understanding the full supply chain, with the trillions of dollars of gdp. it's not just rare earth. liz: i completely agree. where is u.s. 2035. we need to be doing exactly that james litinsky, please come back thank you so much and by the way , while down today, mp materials has seen just an incredible gain over the past couple of months. it's the great american post- pandemic glow-up. masks up, beauty salons flinging their doors open and business is booming, not just big business, that's lydia hu coming up the small company really cashing in on the self-care splurge, she's going to tell you about how they're doing it. and brow waxer to the stars, founder and ceo of anastacia beverly hills early hills also getting back to business, she counts cindy

crawford and oprah among her clients but when the immigrant first arrived in this country decades ago, she could not speak english and was pennyless. today, her studios are in 2,000 locations around the world, and generate hundreds of millions of revenue, and employ hundreds of americans. the story of how the eye brow shaping queen shaped her own success, just dropped in my latest "everyone talks to liz" podcast available on spotify, apple, google wherever you get your podcast. you want inspiration, thinking of starting your own business you've got to listen to that story. closing bell is ringing in 35 minutes the nasdaq losing 128 points and the dow is up just one point, stay with us. (vo) while you may not be closing on a business deal while taking your mother and daughter on a once-in-a-lifetime adventure —

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do you have a life insurance policy you no longer need? now you can sell your policy, even a term policy, for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized that we needed a way to supplement our income. if you have one hundred thousand dollars or more of life insurance you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit conventrydirect.com to find out if you policy qualifies. or call the number on your screen. coventry direct, redefining insurance. liz: i'm telling you, its been a while since you saw two to three days of jumps like this in ford, this is revving up our pop stock

s, ford shares hitting a more than six-year high after announcing u.s. sales rose 4% in may but get this , ford's electric vehicle sales this month surged 184%, plus, ford now has its own tik tok channel so there's that. ford shares up 7.5% and gm is up 6 1/3% rising to a record high after it ramped up production of large and mid-size pick-ups in north america plus gave an up beat first half forecast while those two stocks spike stay-at-home names chewy and doordash are both turning into the red we've got the online e-commerce site for pets a huge pandemic winner, well down yes about 2.7% today, we should mention chewy still shows a gain of 60% year-over-year and food delivery giant doordash is flagging down about 6.6% well off its february 19 high of $205, doordash standing at $139 and change. let's look at etsy shares they

are unraveling right now, even after the cathie wood fund family snapped up more than 150,000 shares of the crafty seller site doubling the number held by the fund and the move comes after etsy acquired depop yesterday, and etsy not popping it's down 4.6%. >> shares of fire eye are tumbl ing after the cybersecurity firm said it's selling its products business including a fireeye name to a consortium for $1.2 billion. this deal separates the company from its cyber forensics unit, m andia nfl solutions fire eye down 17 and 1/3%. as vaccination rates rise so do bookings for galas and parties which in turn have consumers shelling out big bucks on self- care and grooming products. spending on cosmetics up 23% year-over-year, and spa bookings have seen a 20% jump year-to-date. there's a business angle here,

lydia hu is atlanta's organic day spa in cliffside park, new jersey to show us just how small businesses are cashing in on the self-care splurge, >> liz, you caught me at the right time because i got a good steam going here for a facial coming up here at lana's organic day spa but more americans are heading back to the spa to glow up as we're seeing rollback on restrictions. that 20% increase you mentioned, that comes from gloss genius and they say it's really notable, because most of the time, in the earlier months of the year, you really see a dip for spas, not an increase, and it's after the holidays people aren't really getting these types of treatment so it's notable this year, and they're finding more people are booking more than one service when they do make that trip to the spa, and for a lot of happy workers, the people that are giving those treatments, they say people are tipping more generous ly. tipping is up by 15%. here, at lana's organic day spa they are seeing an increase in

massages and facials and manicures and pedicures. listen to this. >> i feel like after the masks have gone down, people want to feel more beautiful, younger, rejuvenated, fresh and we can definitely help them with that. reporter: cosmetic sales they are also on the rise, specifically lipstick. masks are off so now there's a new reason to wear those bright beautiful colors again. the lipstick sales are up between march and april by 80%, to reach $34 million, and we also know that teeth whitening kits are on the rise too in terms of sales up by 51% but right now let's take a look at some of the beauty stocks, because after tanking last year during the pandemic, they have been generally on recovery on the up since then. liz? back to you. liz: you know, lidia, among my tools, my laptop, and my pen, and my papers and all of my information and research right here on the desk, these weapons,

lipsticks, [laughter] i know. i get it. i get it. >> they are necessary. liz: oh, yeah it's like laptop, who needs it. i need my lipstick. thank you so much lydia hu. we keep hearing all about this semiconductor chip shortage this has been an issue that's impacting the auto industry but maybe people should start worrying about their smartphones , and the network that power them. acoustis is the key name in 5g network and phone chips is at the epicenter of the drama and the ceo is here next in a fox business exclusive on how his company is trying to fare in the middle of the crisis closing bell ringing in 26 minutes the dow jones industrial up 1.5 points but the s&p is down 11, nasdaq down 120 that's a loss of just under 1%, we are coming right back, oh, yeah and we're going to show you the concord of the future, yeah, supersonic jet s don't go away. don't like surprises? [ watch vibrates ]

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liz: for months now, countdown has been all over the semiconductor shortage, slam ming the auto industry, ford has had to slow down production of the f-150 we told you about that, the explorer other models and the global auto giant says it expects to produce 1 million fewer vehicles than originally planned but you guys, what about the 5g race? senator chuck schumer spoke in upstate new york at one of america's few fab, or fabrication plants, acoustis is a global leader in wireless chip technology. the senator seeking support for his $52 billion plan to boost semiconductor production here in the u.s. , and take us off dependence on asian-made chips. ceo jeff sheely joins us in a fox business exclusive. jeff what a lot of people don't know is how dramatically the shortage is affecting the smartphone industry. apple had to stagger the release of new iphones to adjust for

thin supply. break down how serious the u.s. phone and 5g chip shortage is. >> well good afternoon, liz and great to be with you this afternoon. first, just a bit about the company, in a little more detail. acousis is a publicly traded company on the nasdaq traded under akts, and we're a design and manufacturer of high performance rf filter silicon chips, that enable 5g smartphone s, and actually 5g networks as well as wi-fi router s to connect to the high speed internet. specifically to your question of the impact, you mentioned the automotive impact, i think that's been broadly advertised. you see some staggering and cycles on the handset models that's really driven by availability of silicon chips for the smartphone. one of the areas that we, in

addition to the 5g network, we see some delays as these networks for high speed are carrying more brand width they needed new silicon chips in order to deliver that and that's what has been in shortage of supply. the same thing also applies to wi-fi routers. we're seeing, we actually benefit from the current platforms that we're on but the new ones in wi-fi, so the current ones are wi-fi #. the new ones and the extended are wi-fi 6e have been impacted and that's had push-out into several programs to ramp later this year that were schedule to ramp in the first half of this year. liz: right well what you guys are manufacturing up in new york is a very specific sub sector of the semiconductor industry that is critical right now, as much as everybody is depending on their phones and the whole system is turning over to 5g. now if senator schumer's bill

were approved, i would imagine you, as one of the few fabrication plants in this country, would get some of that money. we can put up a map of how few of these fab plants because they are incredibly expensive to make are here in the united states but give me a sense, as we look at these, you know, it's intel, in arizona, micron is in utah, obviously this is very very expensive. why do you need it? why would you need the government money and what would you say to voting congressional members on this bill? >> well what i'd say is that, you know, this is a global race, and the competition overseas one of the first things they will do is to drop the price on anything , anything they can compete with, so we have to be investing in our manufacturing particularly in the scale to drive down a significant cost curve. in addition, why we need it is we have been, we're rather young company. we've been manufacturing in the

upstate just since 2017 over the last year and a half we've invested $40 million in a 5x increase in capacity and by the end of this year we're going to invest even more to even double that capacity further to get us to about 500 million filter chips a year. we need to push that number into the billions in order to compete in the 5g smartphone market, and so we have to drive down a cost curve, which requires investment i think it's extremely important to appreciate that roughly 40% of all chips 25 years ago were manufactured in the u.s. , whereas that number now is now down to about 12%, and we'll drop below 10% moving forward, and if investment is not stepped up in the sector. liz: right. we just talked to the rare earth ceo of mp and same thing.

we got to take these leadership positions here in the u.s.. jeff shealy, as you were speaking your stock hit session highs. it is obviously a crucial company. we're watching it very closely. akoustis could, jeff shealy. spacex is sending another rocket to the international space station, took off already, with one that has 5,000 passengers on board. we're going to explain who was on board there, but elon musk is already thinking about his next wild venture, its now been revealed that tesla has just applied for three new trademarks having nothing to do with cars or rockets. wait until you hear the word tesla is specifically register ing to own. we'll tell you next, plus, spacex will no longer be one of the main sources of a sonic boom , supersonic flight, soon returning to the friendly skies, we've got the ceo of boom on his new partnership with united airlines. can't wait to be on one of those . closing bell ringing in

15 minutes, dow is now up five points we're coming right back.

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his number? delete it. deleting it. so break free from the big three. xfinity internet customers, take the savings challenge at xfinitymobile.com/mysavings or visit an xfinity store to learn how our switch squad makes it easy to switch and save hundreds. liz: okay, remember that movie " snakes on a plane"? how about squids on a spacex rocket, elon celebrating the 22nd cargo resupply mission of a brand new falcon rocket full of nasa gear headed to the international space station, everything went off without a hitch, but on board, 128 baby glow in the dark squids, and 5,000 tardigrades. these are eight-legged micro animals also known as moss pig lets. which is it, water bears or pig

lets? okay, they can survive extreme temperatures, air and water deprivation and they will be used in experiments. the cargo expect to arrive at the iss tomorrow and from rocket s to something more like johnny rockets, tesla has just filed paperwork for three new tesla trademarks having nothing to do with cars or parts. elon musk has hinted a while back what a great idea it might be to pair his supercharging stations with 50 style diners as a way for drivers to cool their heels and have a burger while their teslas get recharged. a full charge can take up to 40 minutes, so what are you going to do sitting there, right? well the website elektrek discov ered the trademark applications which prepared the distinctive t in tesla with restaurant service, pop-up restaurant services, self- service restaurant services and take-out restaurant services no word on menu items or whether you can pay for the shake and fries with dogecoin, but yes, interesting.

they maybe getting into the din er business when paired with the supercharging stations. >> we got breaking news on boeing. just breaking right now, let's put up the shares at the moment and look at boeing shares down about 2% ceo dave calhoun has just said the recovery is robust , but he sees supply constraints, and is "frustrated as anyone" with the stability of the aircraft maker's monthly delivery rate. he is speaking right now the bernstein strategic decisions conference and he also said at this conference, the u.s. and china need to restore relationships on trade, and he also said, "we've got lots of time for the next new plane, won't be all that long before an announcement." well guess what? a lesser known name in aerospace has already beaten boeing to the punch when it comes to plane announcements. boom supersonic announcing today it has just struck a $3 billion deal with united airlines. ual is going to buy 15 of boom 's supersonic overture jets

with the option to purchase 35 more in the future. okay, how cool is that thing on your screen? well nearly 20 years ago supersonic air travel came to a grinding halt after the concord 's final flight back in 2003 but now boom is flying ahead with promises to transform , let's say disrupt air travel, to boom supersonic founder and ceo, blake shull. blake is this the reincarnation in the different form of a concord? this is a thrilling announcement >> well thank you, great to be here, liz. this is a big day for the future of travel. supersonic is back, back in a big way, and it's here to stay, and what we're seeing today, with united purchasing 15 of our overtur ex aircraft let's remember only 14 concords ever entered service, so, what we can get excited about here is high speed travel, that's going to be available to tens of millions of people. liz: okay, you got to tell me how fast it goes, what the would it take to go from, you know, united flies out of newark, new

jersey, yes, new jersey, from new jersey to london. how about that? >> yeah, well from newark, new york to london is going to be three and a half hours, and what that means is instead of that being a painful overnight flight , you can leave in the morning, make a late afternoon meeting in london, go out to dinner, and then be home to tuck your kids into bed that same day, so it's a really big difference, not just in the speed of the airplanes, but what you can do in a day and how the planet becomes more easily within reach. liz: okay, and they operate, as i understand it, eventually with 100% sustainable fuel. when? what is the timeline here when we will see the first of these supersonic jets with the united, i guess, logo right on it. >> well it's happening very quickly so our goal is to have passengers before the end of the decade. we are flying our test airplane later this year or early next year. we're breaking ground on the overture factory next year, the first airplane rolls off the line at 25, start flight

tests at 26 and yes our goal is to be carrying passengers before the end of the decade. liz: okay, if you will allow it, i would like to invite myself to be on the tarmac with you guys when you are ready to test it. i think that be a great live show. we would love to see that, because there's been no disruption since the concord went out of business in air travel, it just takes too long so we're wishing you the best, blake, thank you so much. >> thanks, liz, would love to have you there. liz: break sholl, we're coming right back six minutes before the closing bell rings nasdaq down 142 and now the dow is down 22. . .

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that's 1958. [voice of male] the chili bowl really has never closed in our history. when the pandemic hit, we had to pivot. and it's been really helpful to keep people updated on google. we wouldn't be here without our wonderful customers. we're really thankful for all of them. [female voices soulfully singing “come on in”] ♪. liz: well, the buffalo sabres have won the lottery, the draft lottery that is. the nhl team picked the number one overall pick in the 2021 nhl draft which will take place in

late july. our "countdown" closer is ready to score some goals in your portfolio. she has ideas where the puck is headed, not where it is right now. what picks work well where the puck is going in this market? >> absolutely. you know, in terms of where the puck is going, we think value investing will be the way to go, at least, for the rest of the year and into 2022 as well. so value cyclicals and quality value is where you want to invest. liz: okay. so give me some names here. i know you like some of these financial names but general motors as well as is on your list. this is hitting a record high right now. wouldn't you wait for a pullback? give guidance here. >> sure we like general motors in the longer term. the ev transformation the company is making here is really, really important to take the company to the next decade. as well as their battery operations that they have, the

investments that they have there, it is certainly well before, well above where ford is. we do like gm. here. it has had a big run here. however we still think that there is still considerable amount of room to move higher. liz: do you worry at all about what is happening here with the meme stock crowd? amc of course we should take one final look with a few seconds left of trade here. you know, it is moving the markets. their participation, amc, turned down a bit more. down about 17%. how do you view it, quickly? >> right. we don't invest in speculative companies like this were supposed to be going bankrupt last year or the year before. so i think we're leaving this to more day traders. unfortunately we don't think there is a fundamental story here. so, and for that matter i think fundamental investors are actually out of the stock as

well. liz: well, as we watch this last few seconds before the closing bell, linda, thank you very much for joining us. we see that the reddit rebels have not been able to pull this one out. after yesterday's 95% gain, a loss of 18%. not so bad. [closing bell rings] revved on the screen. that will do it for "the claman countdown." tomorrow's friday. i will be here. hope you will too. "kudlow"'s next ♪. larry: hello, everyone, welcome back to "kudlow." i'm larry kudlow. so the economic recovery is here. it's unlike anything you've seen. that was the headline on "the wall street journal" this morning. it was an excellent, accurate article, probably 5,000 words long and it reminds me of so much of the past year mostly working in the government when i argued from the data that this was in fact a v-shaped recovery. ju