[laughter] did it ever leave certain areas of the country? yeah, exactly. i know. listen, for me, if you look at pictures of me throughout the years, it's short, it's long, it's frizzy, the it's -- okay, hair. it's all about the hair. charles: keep this momentum going. liz: i know. it's all about the market bulls making a last hour charge as wall street tries to avoid a three-day losing streak. looks like it's happening at moment. dow, s&p and now in just the last few minutes the nasdaq turned positive as fed hawks confirm the central bank is behind the curve on raising interest rates and congress votes to officially ban russian oil and eliminate the country's most favored nation if trade status. while the markets climb hire, dow is up 132, s&p up 26, the lone star state is getting pumped up for the party of the year. if tesla ceo elon musk set to to host the cyber rodeo at the grand opening of his austin, texas, giga-factory. doors open in just with over two hours.

tesla owners from across the country desperately trying to get their hands on the hottest ticket in town. we've got tesla shareholder ross gerber, the president of the austin tesla owners' club, and al root to tell us what they hope to hear, what they're hearing might come out of the mouth of the world's richest man tonight. think cyber truck productions. plus, the man who deserves quite a bit of credit for getting musk and he's -- tesla to the lone star state is, texas governor greg abbott is about to join us live. and the red wedding playing out many realtime over at warner media ahead of the closing of the discovery merger. heads rolling with new the players installed. top media analyst rich greenfield on the game of thrones power play and who's now really running the show at the the new media powerhouse. but first, fox market alert, the federal reserve's per green

falcons, unafraid of what has been said. we'll tell you about that in a second. at the start of today's session, the tow was camming -- the dow was coming off a two-day loss. he were a bit more serious for the tech-heavy nasdaq which wednesday and tuesday had plummeted 643 points. if look at the treasury market. it's sending a message after hitting a three-year high yesterday of 2.6%. if we've got the 10-year yield inching occupy -- up even higher to 2.661%. this morning speaking to reporters at the universityover -- university of missouri, we had james bullard, the head of the st. louis fed, who spent months agitating for rate hikes, he said 300 basis points of tightening are needed by july to get wench mark -- benchmark interest rates to 3-3.25%. look at the vix. okay, the vix or the market fear

index isn't exactly going in many places, but it had been higher by about 7% earlier. it has now reversed and is down 2.33%. not fear, but full blown anticipation at this hour in austin, texas, where we are as we said just under two hours away from the kickoff of the cyber rodeo. we're getting the first look inside if at this hour. tesla founder and ceo elon miss manying tweeting out these images ahead of the grand opening of tesla's giga-factory are. this is a $1.1 billion, 5 million square foot facility already churning out model ys, but the chatter is that elon musk could use the party to announce the start date for production of the much-anticipated cyber truck. so teslaatti has video of cyber truck sightings. first it was one, now we've got a couple of them. one man can take much of credit for texas landing both the plant

and convince ising musk to move tesla's headquarters from california to the lone star state, and that would be texas governor greg abbott who joins us live. thank you for being here. rumor has it that you might take the stage and speak tonight at the cyber rodeo? >> we'll see, liz. after we talk right now, i have to head out of town. i'll be racing back to austin to try to make it before the party is over. i don't know if i will. but leave it up to elon to have a, the first ever cyber rodeo. have you seen that big booth out in front of tesla? this is typical way that elon does things, and that is big. if. liz: oh, i know. but overall, you know, this story, governor, checks so many boxes; business, manufacturing, job creation, new technology. what does it truly mean to texassome -- texas in. >> well, listen, this adds to what we've been working on for years now, and it makes texas the home of innovation.

but i want to give you an explanation of why this happened. it was two years ago month if elon and i began talking about all these projects. they kind of finalized what they wanted to do around june, less z than two years ago. and a need that elon had was speed. he does everything fast, and this would have taken five, maybe ten years to accomplish in california. i told him that texas moves at the speed of business. he was able to complete if a mile-long giga-factory in a year and a half. that is unheard of, probably not replicable in any other state. we accelerate the permitting process so that projects can break ground and be finished faster than any state in the united states. liz: and the jobs, because, you know, he's going to start off hiring about 5,000 people. he claims it'll jump to 10,000. travis county where austin, of course, is, $14 million tax e roadway bait they gave to he's ca. however, it came with strings attached, and i think this is

really important. the county in turn, yes, it'll net about 9 million in revenue, but the tesla was with required to spend 10% of the rebates into community programs, and already as i understand it you have austin community college working with tesla to have classes and train these workers so they come right out from college straight to the floor of tesla. talk to me about the importance of something like that where you now have an important infrastructure. >> well, it's enormous. and part of the brilliance, again, of elon. when he comes here, he comes here bold, but he understands the full playing field, and he knows that he needs a good quality work force, and he's willing to invest in the development of that good quality work force, and that is exactly what he's going to be getting. in fact, if you'll recall, the first thing that he announced row locating to texas was the giga-factory and became so happy with the way things were going, it was after that that he announced the moving of the headquarters of tesla to the

same location. and you know about the expansion of space, and as well as the boring company, etc. it is the kind of state elon likes to do business in. liz: i do find it interesting though, you've got this magnificent, state of the art electric vehicle plant in oil-drilling country. not to mention that, you know, people love their gas-powered pickup trucks in texas. give me the message that you send here, because when texas won the plant, you tweeted out this will be the cornerstone for the next generation innovation. this seems to me that both sides can get along here? >> well, we can. first, there's so many different components of innovation whether it be in the medical arena, whether it be in the finance arena, whether it be in the ev arena. across the board texas is leading the way with regard to innovation. but i've got to share with you and your audience that a lot of people don't know. texas leads the nation as an international leader in both the production of oil and gas, but

in addition to that texas leads the nation in the production of renewables. and is so texas true -- truly is the energy capital of the united states and and an all of the above approach to all sources of energy. liz: i can't let you go, governor, about the policy directive you signed yesterday, in essence, saying you'll send about 900 buses filled with undocumented workers to the steps of the capitol. when is this starting to happen, and what is the major message here? >> so we're beginning on, working on putting the buses together and putting the people together today. the busing may begin in the next couple of days. but the message is very simply this, and that is during this entire episode where more than 2 million people have come across the border illegally under the biden administration, they have not come down to the border, so we're going to take the border to biden. the people in washington, d.c.

whether it be the biden administration or the members of congress, they're going to have to deal firsthand with the catastrophic if consequences that the biden administration has imposedded on the people of texas. we're the ones left grappling to have to respond to this more than a million people who have come across the texas border alone in addition if to what's going to happen in the aftermath of repealing title 42 which may lead to as many as 6 million people coming across the border in one year. we want to make sure the biden administration has to grapple with the consequences just like we have. liz: governor, i hope you make it to that stage. give us the inside scoop if you do because, you know, we don't have any of the media that are really invited. we have experts who are circling the plant that are going to join us, but good luck and thank you so much. >> thank you. liz: governor greg abbott of texas. let's get to the markets right now, we do have about 51 minutes before the closing bell rings, and suddenly we've got green on the screen. this was a totally different picture when the markets opened and pretty much this the last

hour and a half when things started to flip except for the russell which is down just a fraction. sector check, health care and consumer staples are the leaders here while real estate, media and entertainment are the biggest lag are asker. this is why we put up some of the etfs that reflect even of those sectors. sure enough, yeah, the vanguard etf if down along with power shares as well. with the market chatter getting kind of more nervous and giddy, what signs do investors need to look out for to keep their portfolios in the green? let's bring on the floor show, john corpina and andy bern. john, it's when you hear something three times over a short span of time, there might be something to it. i've heard from three different major investors, quote, seeing bad signs pop up in the housing market, i'm moving into consumer staple names like costco and walmart. what are you seeing? >> hey, liz.

you're right, where there's smoke, there is fire, right? the market and the economy, the way that it's been trading and trending, can't stay at trade -- and trade in this fashion. we've talked about housing prices, inflation, the fed. there is this fear that's coming into this market. you spoke about it on your lead-in when you dimensioned the vix trading -- mentioned the vix trading down. the moves there are certainly alarming. so we're seeing that that investor tricep trepidation that's -- trepidation that is happening here. what is going to be the catalyst to move this down, to take percentage points out of it. we've seen it come coming out of russia and ukraine, we've seen it with inflation, with the fed. all these different factors are putting significant pressure on our markets, and this is drawn out. it's taking a long time for us to get there. will there be opportunities? there will be. we'll continue to see volatility, but i think investors are in for a long haul in front of them later on in the

year. liz: okay. it does still swirl around the fed, right, andy? the atlanta fed is making headlines here. you know, they're sort of mag magnanimous saying the fed's goal is to try to have sustaining growth that extends for as long as possible. well, i would hope so. [laughter] even on the worst of days that's what you want, right? they sound like they even know now what you've said many if times before on this show, that they are well behind the curve. are they now at risk of moving in too quick a fashion to pull off a fed accident of sorts? what do you see? >> no question about that, liz. the fed is going to move very fast. i would expect -- i think the good thing is to why the markets, the equity markets are better today, i think the fed has taken some uncertainty off the table. those fomc minutes yesterday were very clear as to what the fed's going to do. they're going to raise 50 in may, and they're going to continue to raise, but they're going to use the balance sheet. and i think the balance sheet is

worth four rate rises, so i think that's going to be less than we're going to see. and the balance sheet is going to be significant which is why we're seeing the long end of the curve starting to adjust, and i think it's got a lot more to go. we're seeing new highs today in 10-year, 20-year and 30-year yields, and we see the curve steepening. i think there's going to be more of that. to answer your question, yes, the fed is out there saying they do not want to put this economy into recession. but, you know, the biggest fear is that powell moves too quickly and the unemployment gains that he accomplished over the last two years will be fleeting and then the fed's got a really big problem. but for if right now many -- for right now i think the fed is going to raise 50 in may, 125 between now and the end of the july meeting, but i see them slow aring down after that. which is against what bullard said and against what many of my friends at other firms have been saying. liz: bullard wants 300 basis

points by the start of july. before we go, john, the housing market -- so i've been hearing chatter -- home builders are down at this hour. not by much, but what are you seeing when it comes to the flows in and out of home billion dollarer -- builder stocks and the related sectors. >> you're seeing interest rates going higher, first-time and second-time home buyers have been paying top prices, and they're now getting scared of those price advances. we're going to see that trickle down into that sector. just a matter of time before it all snaps, and we're not at that inflection point yet, but we're getting close. continue to get rates above 5% for an extended period of time, and you will see it. liz: did you score an invite to the cyber rodeo? >> no, i was kind of hoping to piggyback off of you. [laughter] liz: yeah. you can't depend on me, i'm never invited to anything. i'm so uncool. john, andy, thank you very, very much. >> thank you. liz: president biden gearing up to nominate two candidates to

the security and exchange commission's phi-member -- five-member group. who are they and what will this mean for gary gensler's agenda? charlie breaks it next. closing bell 45 minutes away. "the claman countdown" is coming right back, and we leave you, at least for the next couple of minutes, with the dow up 179 points. ♪ ♪ for investors who can navigate this landscape, leveraging gold, a strategic and sustainable asset... the path is gilded with the potential for rich returns. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire you know liberty mutual customizes your car insurance,

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♪ liz: president biden set to announce his picks to fill two vacant seats on the five-member commission at the sec. this move will get the democrats a 3-2 advantage and likely enable chairman gary gensler to push through his agenda. joining us now with details on the picks and president agenda which, of course, circles around a lot of cryptocurrency -- >> people forget that the president, even if it's democrat or republican, has to appoint democratic seats as well. republican mark -- hope i say his name right -- republican a appoint by democrat joe -- fill one seat, but a democrat -- i hope i say the guy's name right

because i haven't been able to find a phonetic pronouncement. they give the democrats a 3-2 advantage now in the, at the full sec. and permanent members, essentially, for a while. what does this mean for policy? big things. at least over the next, i would say, eight months which a lot of people inside washington, dependenceler watchers are saying -- people that are paying attention to all his edicts, his rulemaking saying the next eight months could be very frenetic. definitely crypto regulations, something's going to come through the sec. we don't know exactly what, there's probably going to have to be some coordination with the treasury and the cfpb. sec rules on everything from market structure to woke corporate policies, and he has now the majority to pass those.

corporate policies, there's a lot of talk about the sec pushing corporations to give much more disclosure and forcing them to bring on more diverse board members. tough that, you know, sort of rules they never really had to follow in the past. announce their carbon footprint. basically, reduce their carbon footprint. and this is coming down the pike from the gensler sec now that there's a 3-2, and for the next 6-8 months it's imperative a that he does this. why do i give them the 6-8 month time period? again, this is a point we've made on this show plenty of times even yesterday when we were talking about elon will be musk and tesla, and our stuff came out -- by the way, cnbc followed our reed on that, how the twitter investment of e to loan musk could be bad news for tesla because it's going to start focusing the sec and senate democrats on his work with tesla and maybe possibly some of his disclosures or lack

thereof. and, by the way, the stock traded off today, we should point out. why is this -- liz: well, yesterday, it did. it's up 1% right now. >> it was off earlier today. cnbc did some report saying what i said -- liz: why are you watching themsome. [laughter] >> i had a source that called me up. i was at the gym, and just to be clear, one of my sources calls me and e-mails me -- liz: used to work -- >> yeah, he doesn't care. he's a great guy, he's a really good investor. he he said just what you said yesterday, harvey pitt saying about the twitter investment being bad for tesla shareholders. my point is why did twitter or bring him on in because the republicans have -- are taking congress. why does gensler need to work fast over the next 6-8 months? because the republicans are taking over congress. that doesn't mean you can't get stuff through, but if the republicans control the house

financial services committee, two main oversight committees, the house financial services and senate banking, you know, they're not going to take too kindly if it's in republican hands to all these woke foils -- policies and other stuff. they're going to grill him, start investigations, so it's imperative that he gets it done over the next 8 months. that's what this 3-2 means. watch a flurry of activity coming out of the sec. now, obviously, he may turn around and say let's do nothing. i doubt that's going to happen. this is now giving him the mandate, the 3-2, permanent seats, he's got a window. what does he go for first? crypto is low hanging fruit because he might get some public buy-in, but he answers to elizabeth warren. that's his godmother, so to speak. she wants the woke stuff passed very fast. liz: charlie, thank you very much. as we watch cryptocurrency, mixed picture, you also have rob. hollywood down. we're going to explain why, and

also warren buffett shoving software to the side and diving into tech hard ware. how big is the buffett bounce in the stock? the oracle of omaha similar. my could not -- simply could not resist gobbling up. dow is up 130, we have green on the screen all across the board. stay tuned, we're coming right back. ♪ ♪ or confidence. but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. ♪ ♪

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- thank you, edna. - [announcer] don't wait. see if a reverse mortgage is right for you. call now, the number is on your screen. liz: fox business alert, the buffett effect back in full swing in this final hour. take a look at shares of hp, they are moving higher by 15 percent after filings revealed last night that warren buffett's berkshire hathaway has taken an 31.4% stake -- 11.4% stake. the nearly 121 million shares of the computer and if printer maker valued at some $4.2 billion, but on yesterday's closing price. now look to be worth a lot more because with shares look to

chose at a record. again, up 15.5% to $40.32. it has been a really busy couple weeks for buffett. berkshire's committedded the 22 billion to few new -- to new investments, including occidental petroleum and a purchase of insurance company allegheny. rite-aid shares might need first aid after deutsche bank cut its price target from $16 down to $1 ahead of the pharmacy retailer's earnings report next week. obviously, this is horrible news for the stock. rite-aid is down 20 right now. the analysts say rite-aid would have to report more than $400 million in earnings before interest and taxes, or the company has, quote, no value to shareholders. the stock has lost more than 50% this year even with the pandemic. but with future demand for vaccine and testing expected to decrease, drugstore chains'

outlook tend to be cloudy at the moment. robinhood struck down by a bit of lightning at this hour, down 3% after this, despite the stock and cryptocurrency trading app rolling out its crypto wallets for 2 million users and announcing plans to use the bitcoin lightning network in the future. this wallet that hood is offering will let users interact with crypto outside the trading platform while the lightning network will make bitcoin transactions faster and less expensive for users. we've got investors tarry-eyed over the constellation brand shares up 4.8% after the spirits giant announced a quarterly revenue of $2.1 billion beating wall street's estimate of $2.02 billion. the maker of the brands from corona beer to svetka vodka says they expect beer sales to grow as push as 9%. while wine and spirit sales

could decline by as much as 3%. and few bow hit an annual -- finishing ubo hit an annual low of $5.8ing. we're off that floor, still at $6.15, down is %. -- down 1%. announcing plans to strengthen its management, but that has not helped investors who have been scared off by the company's too poor earn earnings that were released in late february. fubo is down 70% year-over-year. ♪ the cnn plus streaming service launched last week ahead of the merger completion of warner and discovery media, but as multiple execs flee, is discovery's stock worth your viewership for your portfolio? if top media analyst rich greenfield on hits and misses ahead for if media's newest power player. closing bell, 29 minutes away. now the dow's up 130, and we do have the nasdaq better by 62, the s&p up 30. stay tuned, we're coming right back. ♪

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liz: okay. in less than 24 hours we could see the warner media discovery merger finalized. the new media giant will trade on the nasdaq under wbd, warner brothers discovery. but with this marriage comes some divorces as discovery announced its future leadership team today. the laundry list of executives and leaders exiting the company headlined by warner media's ceo continues to grow. current discovery boss david saz love is going to, of course, head the merged company. he has been scroar's ceo since 2014, but with discovery shares pretty much dead money over the last ten years, will the movement of the chess pieces make a difference for investors who are waiting to cash in? lightship partners' rich greenfield, top media analyst, having a little fun with the pink slip parade, tweeting out

this picture from the famous red wedding. non-game of throne fans, half the stark family was butchered. let's bring in rich greenfield. rich, the list of exits is long are. you've got hbomax boss, the cfo, several executive vice presidents all gone within the last 72 hours. and that's not even the full list. i guess it's cleaning the house, totally get cleaning house, but is almost like cleaning out the silt from underneath the house? >> look, this is a, essentially, you know, this is david buying goliath. that's, essentially, what happened here. while at&t share holders own the majority, this is essentially a discovery and david saz love team takeover, and they're putting in their a lieutenants, you know? obviously, they're removing people that have had a lot of experience in streaming, you know, going back to the -- you mentioned jason and andy, that's the o.g. hulu team that really

built hulu. obviously, the discovery team has a lot to prove, and i think that's sort of -- obviously, you have a lot of selling pressure from at&t shareholders who are going to be the selling on this transaction and there's a lot of fear heading into that, but the other thing is what's the strategy, what's the ability of this team to execute? this is an entirely new company. you can't really look at discovery historically and its set of assets versus the new playground that they have of to play with. like, this is an entirely different job. you know, nonfiction discovery programming versus hbo and warner brothers, it's completely different worlds. liz: well, i have to just make a point of saying that they did amounts -- announced they solidify their team, j.b. peret is going to take the title of -- channing dungy, chairman of warner brothers television, toby emirates, chairman warner brothers pictures group. seasoned executives, many of

them, but when you go back to at&t, they vanished when they bought -- they banished some important names, really such huge creative forces around hbo. not to mention, you know, bob greenblatt. bob greenblatt had a midas touch there. so i'm just confused as to, you know, i need to hear from you, i guess, if you think this will make a meaningful dent in what has been a problem for both of these stocks. >> look, or the most important person that's staying at this company is casey lloyd. there's no doubt that casey, who runs hbo, is critical to the success and future of hbo, and i think hbo has had probably its best year in a long time. hbo had really stagnated at 30 million subscribers o -- over the past 12 months they've had an incredible year. they a made a conscious decision to leave amazon channels, but that was a smart strategic decision. i think the question, liz, the

overarching question is we don't know what the strategy is. how is it going to shift? if obviously, you think about what was happening under jason, it was really gunning and putting the pedal to the metal on hbomax. they were playing to win, they were putting more and more assets, they moved all of their movies -- remember, in 2021 they moved all their movies to day and date release. obviously, they've gone back, but they got very aggressive during covid on driving hbomax. i think we're going to really find out how exactly is hbomax and discovery plus going to be -- charlie gasparino, aye been listening to his comments, we certainly have heard that it seems likely that all three services become one ike every-service -- uber-service under hbomax umbrella. liz: possibly. >> again, it all comes down to what's the strategy, and i don't think we know yet. in order to judge are you seeing a lot of disruption, i think

that disruption executive wise is going to scare investors in the short term combined with sort of the technical pressure. so this is going to be under pressure. no doubt about it. over the course of the next few weeks. liz: right now it's down 3.3 3% even with this new announcement, down 2 -- 42% over the past 5 52 weeks. david saws love, he is a guy who is now being call, quote, mr. hollywood. this is not somebody with a track record yet like a lou wasserman or a peter guber in hollywood. plus the fact that, you know, he took over, what, in 2006? if you go back ten years, the stock is exactly even slightly below where it was ten years ago. how patient are investors going to be? how much time are they going to give him? >> look, discovery is not a great set of assets. i mean, if you look at discovery today, discovery is a

stand-alone company which struggles. and i think that's the reality. discovery sort of got lucky, right, that there was this unique circumstance where at&t needed to get rid of warner media. there weren't a lot of easy to do -- liz: can i just jump in here? they looked lucky when the merger was announced last year. you can see the spike in the stock. but they don't look lucky now. it's lost all of those gains. do well, liz, where would it be without that? where would it be without this? you're saying it's down with it, what would it look like on its own in this environment? i think discovery would be in a lot of trouble given the rerate we've seen in all streaming stocks. if discovery was a stand-alone, or it would be in pretty bad shape right now. so i think the reality is this is a huge opportunity. saz love, if he's really, you know, he never should have gotten this opportunity. this is like winning the lottery are. this is incredible, the fact that discovery's able to essentially take over warner media. the hope would be, the hope would be that he is super aggressive. he's got a huge opportunity to

be aggressive, really lean into streaming. e does have a lot of leverage, and that's going to be the one things that invest -- thing that nervous are concerned about. liz: do you, rich, hear from investors, because i know you speak to a lot of them about anything regarding this "wall street journal" report that came out last week that shows that his compensation is about $250 million last year? his full compensation, 250 million last year, and yet again not, not a performing stock here. do you hear anything along those lines? >> i think if you look looked at investors in the broader media space over the course of the last ten years, investors have been disappointed in -- across the board, in executive compensation not connecting to performance. that is across the board. there are so many stokes in this space that -- stocks that i could point to where the performance of equity and shareholder returns have not tied to executive compensation.

liz: thank you very much for preparing our viewers. again, discovery right now down 3.33%. we expect that tomorrow we'll get the full announcement that the merger has been completed. thanks, rich, good to see you. >> thank you. liz: in just hours 15,000 people, many in their teslas, some even without invitations, are about to descend on tesla's new giga-factory in austin, texas, for the grand opening. our texas panel is on the ground next in austin, texas, they're going to tell us what they hear will be the electrifying announcements elon musk may have up his sleeve. dow is up 174. ♪ ♪

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liz: fox business alert, the doors to tesla's cyber rodeo for the texas-sized grand opening of its austin gig georgia-factory are about to open. rumors swirl in the tesla community of a big cyber truck surprise that could be unveiled at the austin factory tonight. elon musk is going to be there. tesla's cyber rodeo rounding out a big week for the ceo. the stock has punched into positive territory at this hour by 1.6% as tesla announced today the even so it will be recalling some 127,000 model 3s in china due to faulty semiconductor chips that could potentially lead to collisions. but what will tesla's cyber rodeo bring tonight? will elon musk be dancing in front of a new cyber truck model? 15,000 people are supposed to descend on this factory. joining me now, well, we've got three of hem right there in austin, texas, tesla shareholder

ross gerber, barron's senior writer al root and tesla owners' club of austin president matt palm. ross and matt were sent one to have 15,000 exclusive invites to the cyber rodeo, and they're going to be heading to giga, texas, of after this interview. al, you and i, ours was lost in the mail, we didn't get it. you're all there. matt, i am going to start with you because this is a big moment. you have within a big cheer leader for -- been a big cheerleader for the giga-factory. you've got several teslas, what's the atmosphere like and what has it been like in the past 24 hours? >> so we've had some social warm-ups with hundreds of people that have come into town, and the funny part is not everyone, invest, the majority of them don't even have tickets for the cyber rodeo, they just want to be around the excitement. i mean, it's frenetic here. everybody's super excited. we're trying to get as many friends in as we can with plus ones, etc., but it is a very tight list right now.

liz: yeah. i would have been loved to have been a plus one. not so. al, neither you. but you've already landed. just a couple of hours ago you went to the site, right? can you describe cha you -- what you saw there? >> a lot of planning. you know, there was a few things, right? i kindly asked if there was somewhere i could park, and security told me to, very nicely, get lost. [laughter] it is a a massive facility. it is a massive facility. one of -- you know, i've been to several car plants, ill call this one of the larger car plants i've seen. it'll be very difficult for me to sort of run across the highway and try to get into, but it was an impressive site. i wasn'ting allowed to be ross' plus one either. i think he took his wife. liz: ross, what are you expecting to hear? can you give us the chatter and sort of the rumor mill that could come to fruition tonight from e elon musk who takes the stage at 9 p.m.? >> well, it's called the sign

cyber -- cyber rode owe, so i think it's all about trucks. the sort of juxtaposition between the teslas on the road and the ford pickup trucks, you can really see the vision that elon has on taking over the truck business in america. this is one of the most consequential moments for tesla as they move from being a car company into being a truck company and doing it in the heart of trucks here in austin, texas. so i think this is really a great marketing opportunity for tesla to get into the roots of really the good old american pickup truck, you know, history of ford and gm and really establish itself as a truck maker. so that's what i'm most excited about. liz: i have a cyber truck right here. imagine that. actually, it's -- [laughter] laugh it's the cyber whistle. >> i forgot mine. i forgot my whistle. liz: yeah. matt, you had an event last night, and somebody important to the tesla universe was there,

sandy -- what he is her name? can you tell me what happened? he's dancing here. >> sandy -- [inaudible] yes, he takes apart vehicles and examines them and then is very critical and kind of breaking them down and determining the quality of the build. so his youtube channel has exploded. he took apart the first model 3 in 2018. he recently took apart the 2022 and said they're completely different cars. every car just gets better and better, and so sandy's sort of a rock star as a reverse engineering on the vehicles, and he shares what he finds with the public and and people love it. liz: well, al, what does he need to say tonight that will make a difference for the stock as it goes forward? >> oh, what's he need to say. that's a good question. you know, i think, you know, so ross is very focused on trucks. the cyber are truck's going to

hit roads probably in 2023. any timeline adjustment to that would be huge news. you know, i don't necessarily think that he'll deviate from his product plan in january very much. i think he'll focus on talking about manufacturing excellence and what matt was saying, some of the innovations that he's bringing, you know, structural packs, the battery back being part of the structure of the car. liz: all right. >> you know, like matt says, things totally different even though it's the same model over a couple of years. liz: okay. we're going to be hit by a commercial break. ross, take some pictures. we're going to show raz' video tomorrow on -- ross' video tomorrow on the show. we're coming right back. ry talea children's hospital — your life is just as unique. your raymond james financial advisor gets to know you, your passions, and the way you give back.

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like zoom and docusign. they're way down. is this the time to build them back up? our "countdown" closer should be intrigued rather than discouraged. with 3.2 billion assets under management, christopher zook. some of these names are heavily discounted. yet some people wonder is there still going to be a bigger leg down? we can talk about some of them. you say zoom which is down 70% from its recent highs. i don't know. you got to talk to me why you think this is a winner right now. >> always great to be with you and one of the most fascinating things about the market how it repeats itself over multiple cycles and you're right for the first time in a very first time the high quality businesses the market took a meat cleaver to the stock prices and they have gotten hammered. that is obviously where opportunity presents itself.

now what you got a situation for the first time since really the pandemic began, these companies are reasonably valued. don't get me wrong, they're not cheap but they're great companies, category leaders trading at very reasonable prices now and so you want to be an owner of these and prepared at the same time to be able to buy some more if they go down and to do something that is so difficult, so hard, but if you follow me i think you will get it, that is to hang on to them. buy them and hold these three to five years. liz: docusign is on your list. docusign down 66% through the recent high. we can cycle through these. spotify, down 53% from the recent highs. snowflake down 43%. sales force down 35% s there a common thread before we hear the closing bell ring? >> they're all basically movements to the cloud. this is a trend that will not stop. we'll continue to move more to the cloud. these are the category leaders we want to own.

these are the companies we want to own for the next three to five years. buy them. hold them. liz: chris, great to have you. thank you very much. we'll put all of cries's picks on facebook.com/lizclaman page. [closing bell rings yikes! market is down. looks to end up. dow up 86. s&p up 18. we'll do it all for you with just as much excitement tomorrow. that will do it for us. "kudlow" is next. ♪. larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. in a few moments, former attorney general bill barr, my former colleague in the trump administration will be with me here on set and we will have an extended long interview. this is my big question to joe biden and his radical left-wing friends in congress tonight. either we don't have a covid problem anymore, in which case you don't need more covid federal spending, and we can stop wearing masks o