sure what amc is supposed to buy.we raised enough money they could create a competitor to netflix. >> though that isn't what they're talking about. they're talking about buying out prime theater locations. that could be good andrews, we've seen the periods of time in the market where the laws of physics are suspended and it's like the matrix, people leaning back and dodging bullets. maybe this is the longest period we've seen ever or in a long time but the periods tend to end. do you think that's what chen ohs is getting at, for traders, investors, whatever you want to call it, when do you stop the clock and declare winners and losers >> i think chen ohs and others including myself are saying we're closer to the end than the beginning. you never know whether you're right or wrong in terms of timing i think there is a lot of us who lived through different cycles feel some semblance of responsibility to say, look, there are real risks involved, increasingly it appears if you spend time on reddit or on twitter online, th

amc is a good example.s, in addition to the fed. if you get prices high enough you're going to see lots and lots of equity issuance not only for companies that can put it to good use but for all kindsof sort of questionable business plans and outright scams i think that that's -- that is sort of where we are now we're getting into money being raised for all kinds of things that probably aren't at the end of the day going to be productive but might line the pockets of promoters doing it. i think that there's a difference in -- in taking that money and -- and putting it to work in factories. whether the factories make profitable products or not and doing some other things we're happening, for example, in the crypto space, or in some of the more questionable spacs, and i think that's just going to go on as long as these markets stay pretty ebowlient i think we'll see more and more of that issuance in 2021 and 2022. >> do you see, though, the interest among retail investors as healthy for the market? i think --

. >> and we'll get to amc with just a moment. session. planet fitness, missing on earnings but topping earnings as gym memberships increased and the stock is down 1% right now the reel real getting crushed after reporting a loss greater than expected. they did say gross margin was up compared to a year ago but shares down 14.5%. and well end with the online education company raising its full-year outlook and we'll discuss dan rosensweig later >> let's go to amc it was less than expected loss and the stock's up about 6.5%. hooz been up more than that the premarket. seems to be decoupled from fundamentals market cap over $18 billion. i did ask him about the company's long-term fundamental strength and treatmentads to what seems to be what they expect to be a great growth company. take a listen. >>> the same people who are putting us down now were running with equal certainty 10 months ago that we were going out of business then. they've been wrong and who knows what will happen there's only one thing i'm certain of the share price

let's trade amc.line saying that ticket price, the average ticket price is up 15% versus pre-pandemic that might help offset the lower attendance we have seen. >> it's good ticket prices are higher but when you have fewer people through the door that's less at the concession stand which is super high margin that's not great i love this dguy so much for doing whatever he could but this is still a business that's so incredibly challenged. we have seen like box office start not terrible it used to be terrible and not and drop off dramatically. that's not a great sign. delta variant didn't good either all thoeds things with a pile of debt is not good for me. >> they hold 80% of the shares in a recent tweet a couple of months ago 4.1 million of them. >> that doesn't make the situation bad. it makes it different than what we're used to dealing with if i look at it, it's uninvestable they were losing money in 2019 when sales were more than five and a half billion dollars they are expected to be below 2.5 bil

amc will step up to the earnings plate. we'll talk to the one of the community's biggest voices as well as a market pro. president biden is very quietly extends a pause on student loan payments as we went into the weekend. another example of my mind big government run amok. plus we're also going to be staking with a republican lawmaker, sending shockwaves over the weekend saying democrats are ready to ram through, quote a socialist debt bomb before they skip town that senator is here. all that and so much more on "making money". charles: all right. so friday the market got it really went back to script. bond yields moved higher. cyclical names moved higher. financials led. energy stocks led. we had a pretty good session all around. so we kind of thought that would be the day today. we almost got the inverse. we see financials looking pretty good. some of these tech names rebounded as well. i think a lot of this reverts right back to the notion or the concerns about the delta variant, really, really concerned very worried he

and contrast that adam aaron at amc. and like elon musk, he had a sense of showmanship but it is a chain of movie theaters they could sell drinks and sold' water and pop and take payment in bitcoin, they offer prepare p popcorn for shareholders adam is not going to develop a cancer vaccine you go there to watch movies except this time you could get covid if you're sitting next to someone with the delta variant again, all that means nothing to the wall street bets crew. they don't care about the fundamentals they don't even care about the delta variant. they care about boosting on the back of short sellers. warren buffett doesn't like it but the aips are trying to accomplish, it is a multi-level marking stream meets bull market now you have a army of short busters any time the short sellers get too crowd and the kinds that are libel to attract short sellers they have a degree of protection they never had before these days it is more dangerous to short anything. the other day albertson's put in a new cfo, except for wait a

amc giving the apes community a shoutout during the earnings call. ceo adam aron joins me to break down the future of the movie chain. all that and much more on "making money." ♪. charles: so for the most part the market is in a holding pad earn. some may chalk this up to summer doldrums. i suspect there is macro concerns and a lot of unknown with the delta variant consisting a shadow of uncertain think on all the action. small business optimism declined in part to the hiring conundrum. 49% have job openings, 39% hired last month. 27% plan to hire over the next three months. here is the rub. 57% say they have fewer or no qualified applicants. second quarter product tivity came in below consensus. so as inflation rages the debate rages on many were told, they were hoping that the elixir would be a productivity miracle. lots of money on the sidelines, looking for clarity. so far the tea leaves remain murky. joining me to discuss the editor of the bear trap report, larry mcdonald, and kpmg chief economy. constance hunter. start with this month's product

but where are we right now with respect to amc?e a battle between, you know, individual investors and wall street and institutional investors has continued. you know, i can't comment on the ft's reporting, but i will say that it seems like, you know, many of those professional investors who at the start of the game said we think gamestop is going to tumble, amc is going to tumble, they've been caught on the wrong side of these trades. are you know, they've certainly been caught flat-footed. so i think that was cocontinuing, you know? it'll be -- continuing, you know? if it'll be interesting to see where where it goes. charles: i'm obviously rooting for the apes, and i want to see what happens. a america c, they're going to report next week -- amc, what do you think we need to hear from the ceo? >> you know, one thing i'm watching for because this ceo has done an interesting job of kind of, you know, currying interest among these individual investors. he's really reached out to them on social media, on different platforms and, like,

but is there any real way to stop all the recent hack attacks >>> mean stock madness back in vogue as amc, game stop and the like all look to add to a late session surge yesterday. >>> deals in d.c., house democrats breaking a stalemate over president biden's more than $3 trillion new spending plan. >>> goldman sachs throwing down the hammer when it comes to covid vaccinations at its american offices grab some meatballs and maybe go get a screwdriver because ikea may be making one of its biggest store changes ever it's all happening on this wednesday, august 25th, and this is "worldwide exchange." ♪ >>> good morning, good afternoon or good evening and welcome from wherever in the world you may be watching, i am brian sullivan, good wednesday morning let's get right to it, see if this record-breaking rally will roll on today. and right now it looks like it will, futures they are higher again, not by much, but they are in the green, dow futures up an entire 5 we are watching big tech, the nasdaq, futures up 20 points, right now again more than the dow. you know, we are coming off more new r

trey, you say there is an investment thesis for instance in amc, right?t now you could make an argument both ways. you can talk about the ebitda and current earnings for negative cash flow but you can't argue with improvement and growth, that is ultimately with is important for a stock. what i'm watching for the next year, what i think will happen you will see a divergence point where the chart and price action can be backed up by spreadsheet information, some sort of cash flow behind the country. the more the stock trades in the 40s, 50s, 60s, whatever a stock is worth on given date is what it is worth. trading for a long time, man. you can make a pretty strong argument. charles: touche, touche. some coach said our record is we they say we are, something to that effect. what do you think, matt? >> i agree with that. i speak more about the other popular stock, gamestop in this world. i think both leadership teams have used the craziness, insanity of this calendar year to really help with the overall trajectory of both of these companies. we have amc doing

clearly. >> i wonder how many more tickets amc has to sell. i mean they have to sell tickets and draw people into the theaters i think viewing habits have changed probably permanently for many people. in other words, it is so convenient to sit at home, to screen it when it comes out on hbo or whatever and order dinner at ome. >> well, i have two answers for that the first is that amc is looking to try to go into live sporting events but those are one-time deals. it's not like a movie where you can continuously go every single day. again, that's a one-time activity where we all go and watch. >> would that be birds of a feather or what, meme stock to meme stock. >> i could go on even the technology that was used on the call by amc is called say technologies and that's owned by robinhood. so there's a lot but just to your point, on the call at the end of the call, the ceo did say, you want to know how much we know the cash we raise we can survive in an $8 billion box office market for a year or two maybe. $8 billion that's at a level that is defi

amc entertainment out with earnings after the bell. just this year, up roughly 1500%.g in our team. katie, let's begin with you. what are the key levels you're watching >> we worry more about stocks that are coming in hot, meaning they have very strong upside momentum ahead of the report that leaves them more to prove and amc has pulled back about 60% from its recent high above 70 so in a way you can view that as a positive it has short-term oversold however, it still does have downside momentum and the volatility is extremely high it's difficult to stick your neck out in front of an earnings report i think we should watch certain levels we're watching support around $29. and on the upside, we would watch the 20-day moving average. it's right around 36, 38, at this time. we see two closes above that level, that to me would be impetus to add expose because you would reflect improved momentum behind amc following this creative phase. and you would avoid the same >> in either direction i don't think i have much of an edge in guessing how it's going to perform after report

amc traded actively.illion contracts, which is just shy of two times the average daily volume the thing that stood out was 1,000 contracts of the october 45 puts were purchased for $12.24 what's interesting about that trade is this is an at the money put. to put into context, $12.24 on a $45 stock is 27% of the stock's value. that's a lot to pay in extrinsic value that's awl going to decay if they don't accelerate to the downside so this is betting a million dollars that amc is going to give back all of yesterday's gains and more before the october expiration >> the size of this trade, tony, does this indicate to you, i know it's impossible to know that this is not a retail trader >> i certainly think a million dollars in premium certainly would say that this is not a retail trader. yes. because that would be all that risk if that trade doesn't work out. >> all right tony, thank you. i asked that obviously because retail traders have been very active in the options market, but they tend to be in smaller s

amc inc. proved -- amc improve its capital base with some timely stock sales. dave wilson has more.ow him see because of its status as a meme stock, but from time to time, it is actually something you have to hang onto beyond just the moment of the shares. the stock is down by more than half from a peak in early june, and we are seeing a bit of a rebound in today's trading thanks to these latest results for the second quarter. revenue was actually down from what it was two years ago, but it was higher than analysts were expect, at least the ones we survey at bloomberg. when you look at their quarterly loss on a per share basis, it was actually the smallest since the coronavirus pandemic began last year, so you could argue from that perspective it is a sign of progress. as far as cash flows go, about $85 million a month went out the door at amc. compare that with $124 million a month, the figure that they cited in march. they got more than 22 million moviegoers in the quarter, which didn't hurt either. this is a stock that has tended to react positively to quarterly figures. we shoul

meanwhile, amc edging higher, down as much as 41% this month.this moment and periods like this would come. how do you fight your way through it, we're bringing in investment youtube host matt kors. matt, first, you've done a lot of work. i was watching a video, honestly, we don't have that much time, so if you can shrink it down on how you're finding evidence of more naked shorting and what you think should be done about it. >> yeah. to put it simply, i think this is one of the first times in the entire amc saga that we have statistically back data that is suggestive of counterfeit shares or, to put that in another way, naked shorts. i don't want to bottom any, i guess, horrific backslashes to your math class, but august 9th amc is having its next earnings call, and people are starting to ask those questions. they're verifying their shares, and is we're starting to get an idea of the average ownership of the community. and no matter how you really approach this problem, it comes down to one thing for the shares that are allegedly in existence fo

>> i talked about this earlier i don't know if the ceo of amc is watching.ccept bitcoin that's a good idea i will not buy movie tickets with bitcoin i think amc should take some of the money on the balance sheet they have over a billion and a half they should buy bitcoin. that will be the conviction bet. appeal to your shareholder base, explain to people you understand where the swworld is moving. i think that will get the impact they are looking for that's the really high conviction bet they have the cash to do it. >> you think it's symbolic it's not really about people using bitcoin to buy a movie ticket >> if i told you you had an asset that continued to appreciate at 150 to 200% compound annual growth over a decade and it wasn't going to slow down too much from that over the next couple of years, would you use it to buy movie tickets? probably not i think they understand that i think they understand who their shareholder base is. why not enjoy some of the up side or potential up side along with your shareholder base put it on your balance sheet tell ever

[laughter] sonali: but can you buy amc stock in bitcoin? joe: that would be amazing to see.oline: it is amazing how many investors are leaning into this. amc shares have done pretty well whether or not you will be buying your popcorn with crypto is not the matter. we will discuss why crypto lobbyists were called ill-equipped in the bill. that is next. ♪ caroline: we have been talking all things crypto. one area the industry keeps hitting hurdles in is washington. romaine: i think a lot of the crypto faithful got a taste of that. great story today that quoted the blockchain association executive director, who basically talked about how they have known for our that they are under resourced and understaffed. how the budget of the advocacy group is only 1% of what the bankers association spends. the crypto industry has woken up to the fact that they need to invest in washington. let's get to jodi schneider, bloomberg political news director. you know washington better than anybody here. if you if you want regulations written in your favor, you have to be present. they certainly

for amc. charles: i'm going to squeeze one more in with 10 seconds, coinbase, buy, sell or hold before the close they report after the bell. >> i think they are going to get more than 60 million users absolutely buy. it's going to crush it in the long term. charles: sylvia you are absolutely the best. not only do you make people a lot of money but you follow instructions. [laughter] thanks a lot. liz claman, over to you. liz: [laughter] oh, well, i don't follow instructions. charles: you know, you tell a guest we got 30 seconds and they start reiting war and peace. liz: she's terrific, i have the same issue bumping up to kudlow, charles take a look at the global exit restructure etf, top holdings include vulcan materials, deere not only is it up about two and 1/3 percent on the senate passage of the infrastructure bill but that vote is also powering the broader market to all-time highs. we're talking about the dow and the s&p, they are closing in on brand new record, but infrastructure paths s

amc. susan: we will see how the wall street vets does with amc theaters.ack open but still down 50% from june highs. the stock rallied trading session that followed each of the last six earnings report on average up about 7%. that's only posted a profit wants in those quarters. do you believe that? stuart: yes, i believe that. hurts. susan: they will report earnings, first time back from bankruptcy in chapter 11 so i would say it's a reopening trade and may be value. also smile direct club. stuart: uber really hurt the car rental companies way back, not recently but way back skip. susan: given that most of their rentals come from the business side, i don't know if it's necessarily uber that hurt the business. it's probably the covid lockdown and no business travel. what about smile direct club and how much are we taking care of our appearance peered the stock is down. stuart: that's the bright smile people; right? susan: yes. makes you look good to. stuart: i must try that. look who's here to talk about amc. there he is, jeff zika. good to see you. i know

at least were cass today according to data, with more mentions than both gamestop and amc. momentum trading as well a factor likely hedge funds are looking to jump in on the action short interest, though does not appear to be a factor. tends to be expensive to short a stock like robinhood so soon after an ipo thanks to lack of shares out there to borrow. talked to s3 partners earlier saying some short interest but the long side driving robinhood's prices today melissa? >> thank you very much on robinhood, a roller coaster the past couple of days and indulge me in the irony here, but the online platform that enables meme stocks to become a thing. these reddit darlings, has become one itself. so, dan what do you think the implications are here? >> fabulous. i think right now if you're a robinhood holder, just a few days ago it didn't look particularly promising it's interesting to juxtapose this verse coinbase, public through a direct listing april a bit of a frenzy in that leadup, traded up, creamed afterwards and trading around its direct listing price the last few months.

we sincerely hope the amc will stop its divisive efforts targeting individual trustees and officers of the college and will instead devote its resources to partnering

>> so i'll start with amc.etty much the tom the price point i think makes it interesting. i think people are like, they must all be buy ers you know, yo look at a day like today, this is a stock that is interesting for options traders also it was a 13% move being implied on the amc stock tonight based on earnings. >> so, again, really interesting there. in terms of robinhood, what was interesting is the ipo, we didn't necessarily see people clamors perhaps as much as you would have thought once they had the big down move. then with the addition of options last week, we saw another on the multiequity side in terms of what was going on again, due to the fact that it was -- more buyers had that first downward move, it's starting to even out in terms of buys versus sells. >> very interesting time to be in the markets, no matter what side you're on thank you. >>> we've been much more tomorrow morning when investor jim chanos joins "squawk box." >>> skillz reporting a decrease of paying active users as the economy re

up next amc giving up gains from today. however, still in positive territory.et in on the action of the other meme names as well plus cnbc small business playbook tomorrow. featuring the star studded lineup designed to give you tools and knowledge. you can register to attend at cnbc events.com/small business we're back on "the half" just after this break >>> i think all of us have been watching the financial markets for a very long time and we can't always explain how the financial markets act. a market is a market there are willing buyers, willing sellers. we made a very clear disclosure a few months awayo ago that our stock traded away from historic fundamentals and we -- we made no bones about that >> all right that's amc ceo adam aaron on squawk on the street" with jim cramer and the gang. justifying the valuations of amc stocks the shares have been volatile on the back of better than expected quarterly results. down 50% from the 52-week high however still up more than 1,500% this year dr. j., i'll paraphrase that i can't explain where the stock is, but we'

it is amc, gamestop powered the russell 2000 to a 22% gain. of people don't even own the stock are making pretty good money this year, aren't they? >> right. this is incredibly surprising to me as well. it is not just the meme traders piling into stocks like amc. it is also value investors. as you pointed out the irony is they may not even know it. right now i think it is just amc in the russell 2000 value index and value etf we were discussing. it is pretty remarkable. it means that amc's wild rally this year up more than 1000% has actually helped the value camp. all year long there has been this tension between traditional investors like value investors and social media driven traders. we're seeing the social media camp hawk the value camp which is pretty surprising. charles: according to what you heard at the journal, "the wall street journal" there is an effort to get amc out of that etf. how is that going? >> you know, as i reported a few weeks ago for the journal fund managers that i was speaking with you know, kind of criticized this pl

there is a big difference here from the meme stock sales we have seen, like amc, robinhood will not go any proceeds from the transaction. while the ceo champ pond retail traders during that ipo last week, big institutions like andreissen, horowitz, rea capital, they're cashing in on yesterday's surge. and they're also some of the names who rescued robinhood earlier this year during one of its most controversial moments. >> yeah. a lot of controversy around the name our next guest just initiated robinhood at peer perform in the note titled why robinhood is uninvestable right now, warning clients don't buy the stock. steven chubak joins this morning. do i have you? >> yeah, i'm here, can you hear he >> good to see you i got you. your note is interesting, implying downside of 36% you say it is a tough short as well can you lay out the thesis >> yeah, sure. look, why it is such a difficult short really boils down to the fact that the float is incredibly small relation to the overall market cap, the cost to borrow is incredibly high, and we are incredibly sensitive to the meme finance mania

. >>> all the buzz words amc embracing meme stock media tipping its hat and bitcoin along the way. >>vid still getting the headlines. is there a new health threat looming? one hitting kids we're going to talk more about it this morning. >>> a big deal for barstool. in talks for streaming live games on its platform. >>> say it ain't so. they are anxious in the hamptons as the bubbly appears to be running on empty it is tuesday, august 10th this is "worldwide exchange. >>> good morning, good afternoon, good evening. welcome from wherever in the world you are watching i'm brian sullivan more on all of those stories ahead. right now, let's get to the markets and your money and how things are setting up on this tuesday. we're not seeing a big move in the futures market this after stocks did fall fractionally on monday a mixed trade. dow futures down a touch nasdaq futures up a touch. let's get to crypto. crypto has been the hottest market of all in the last couple of days and weeks. ethereum up another 5% on monday and up again right now .60% watch a bit coin it broke back above its 200-da

amc will use it for transactional value. year, right? more acceptance. if gary gensler and the sec eventually come in the etf is good to go, you have broader ownership, that is great to establishing bitcoin but i'm not sure it's a game-changer amc is accepting it. stuart: amc has two billion u.s. dollars in cash. they can ride out any storm in the theater industry. lauren: they're trying new things accepting bitcoin and having concerts in their venues. playing offense as well as defense. stuart: amc, 35 bucks a share. >>> here is what is coming up, cnn helped raise $235,000 for a mother of three facing conviction. only problem she is not a mother. we'll tell you about the major correction the cnn had to issue. member of "the squad" caught partying maskless an hour after bashing republicans for not taking masks seriously. we'll call out the hypocrisy. dr. fauci says hopes masking up kids won't have a long-term impact. what did dr. marty makary think about that? we'll ask him because he is on the show after this. ♪. that build

right now amc up 16%, right at its 50-day moving average. here could mean a lot more momentum. wow, two big moves. you know what? it fits perfectly for a great day from best buy. this is cautionary tale. i want you to listen to this. it crushed wall street consensus. they offered more robust guidance than anyone expected. this company continues to confound the experts. the great example, so-called smart money, let's face it they don't know everything. remember when everyone said this company was a showroom. it was doomed t would go out of business. check out this article from reuters, january 20th, 2014. insight, shorts set to pounce as stocks seem pricey. fed pulls back. james chanos, one of the more prominent shorts out there the market is primed for people like him. now is not a bad time to be raising capital for what we do. when critics view me like the village idiot and not an evil genius. the article went on to mention best buy as a potential short. best buy company shares suffered the worst day in levens year year on thursday, falling

what's your take on adam aron and the viability of amc. >> i am so bearish on amc. now than it was at the beginning of the year when its stock was trading at $2 or $3. but i think adam aron is smart making lemonade out of lemons. if he can keep the stock high, raise some money, then maybe he can pay down some debt and get this company in a better fundamental position with its financials but in terms of how amc is going to fare for the year, it is not going to look good we're looking at theater revenues for the total year that i don't personally think will cap more than $5 billion adam aron said he needs it to hit $5 billion for it to be profitable i don't think that will happen some of the things that he's doing, they're gimmicky. what do you mean you'll have people buy popcorn with cryptocurrency the average age of someone buying a theater particular is not the person behind the retail investment trade on reddit they are not going to whip out their phones and try to buy raisinettes with cryptocurrency. it's a good buzz word but i don't see how it works out. >> as a

and why should we all care amc is the largest in the russell.e good news for small stock etfs >> interesting point because we talk about it as a value index, too, what are the main theorys why they started to lift again >> bitcoin crypto traders. bitcoin specifically and ethereum that shows just in terms of the option trading i talked about for the two stocks that it's keeping a lot of analysts on their toes because there's been a calm and there goes the volatility >> keeping all of us on our toes kristina, thank you very much. kristina partsinevelos >>> that does it for "the exchange." don't leave your seats "power lunch" begins right now >>> kelly, thank you very much it certainly does start right now and welcometo "power lunch. here is what's ahead happening right now president biden hosting his first very high-profile meeting with private sector executives. a who's who of ceos. the issue is cyber security, and we'll speak to an expert who says there's one area of this growing threat that is not being sufficiently discussed and that is supply

that would get you a whole lot of movie tickets and popcorn's at any amc location. >> the bay area air quality management district is helping people with asthma prepare for wildfire season. the district is providing portable air conditioners to low income residents with asthma. the units are being distributed to help when the air becomes unhealthy. >> these air filters will not only address inequality, which is being challenged by the wildfire season, but also will lessen the spread of covid-19. >> the units will be distributed by nonprofit health providers. we are always watching our health and the air quality. >> i was in lake tahoe over the weekend, and one day was absolutely stunning, and the next day, so smoky you could barely see a hundred yards. it is amazing. is that going to continue? >> absolutely. we are dealing with that smoke. it is widespread in the tahoe area. right now, let's look at our live view where we have nice, blue, sunny skies in the south bay. nice marine influence keeping you comfortable at the coast and around the bay, 84 in san jose, but the heat is on. it i

i mean, in the reddit sort of amc -- #amc short squeeze was trending. >> we had a little conversationesterday about how to do this show, who to book, what we should do and talking about the overall market you can only do that so much. >> so many times. >> and i think maybe there's traders around that are like, you know, playing this overall market, yeah, let's go back to those meme stocks. i really think that might be it. let's find something somewhere that gets our blood running a little bit when you hit a new high every day it seems like, but it's tough to attribute it to anything, whether it's delta, whether it's jackson hole, whatever you want to talk about, but i think it's boredom i think it's boredom it's august so it doesn't take much to get these things started because, you know, it's probably a little liquid. i like this next story i have to ask eamon about it. >> i know you do. >>> democrats reaching a deal to break the stalemate over the $3.5 trillion budget resolution and the white house holding a cybersecurity meeting with a bunch it says here, a bunch -- a bunch of high

that's how amc could raise money from a group of regular investors.how the highlight is amc stock, up roughly 1400% for the year he refused to -- he stoked the flames to keep it alive. an all-time record for the century-old business so now the company can hang on for years until the crowds come back of course, he won't have to way long, because it looks like the across the board are already there. people stiff love going to movies, though who else has this killer combination, great showman and operator how about elon musk he ended up one of the richest people on earth, because despite the critics, he made a successful company who else fits the pattern? i always like the outspoken john legend, the builder of t mobile. he created a corporate culture that was more david than goliath, though verizon and at&t, of course which he called dumb and dumber. i thought he could be so glib about the competent torrie adam aron, elon musk, great showmanship, which is why they've been able to deliver such fantastic returns i promise to try to find a bull market here

whether or not amc, after all of these capital raises.ple excited. the point is you can't really generate meaningful box office the top movie of the year, black widow, is around 170ish million dollars. changes in the lenders and the last time amch precovid box office. just looking at the numbers. looking at it. there's just not enough box office attendees or movie theater attendees. it looks problematic for amc it will be interesting what they say tonight on the earnings call all things point to the fact that they're not going to be able to meet the covenants in q4. >> i'm glad you mentioned the earnings call, rich. shareholders make up about -- 80% of shareholders are retail investors, 4.1 million of them according to adam aaron. as an analyst on wall street with a sell rating on the stock, do you have the same access you had before to the company and to asking questions on these calls? >> amc was not taking our questions before or, you know, after. they sort of shifted to focus on their retail shareholders. i think just the important th

with amc, we have seen numbers like $600 million. raise the question whether the demand will be there to meet the supply, assuming those shares get sold. amanda: the cynics say, when the ducks are quacking, they get fed. in this case, is the volatility in robinhood being reflected in some of the other meme stocks? dave: we are not seeing the kind of moves, really, that we have seen elsewhere. you look at the past week, you can see it. given the declines of amc, gamestop, it may just be that robinhood became the latest play for these smaller investors looking to reap big gains. here we are, it has happened, and now you have the response, the potential for all of these additional shares to be sold. it is a question of whether robinhood can whether that increase in supply. matt: thanks for joining us, dave wilson, with our stock of the hour. coming up, an exclusive conversation with oaktree capital co-founder howard marks. he will join erik schatzker here on set. this is bloomberg. ♪ matt: this is bloomberg markets. i'm matt miller. joi

after hours we are also watching amc. not a lot of people going to movie theaters, given the delta variant right now. but still we have seen revenue beating estimates. amc soaring even before the market closed, and soaring after-hours, up 4.7%. all to do with retail traders and meme stocks. that really helped the s&p 500 see records upon records in 2021. there talking about 44 record highs already this year. at this current pace we could see 77. that would be really short of the 1990's high we achieved back then. we're really looking forward to what these stocks could be looking at when it comes to stock gains for the s&p 500. also inflation. we have seen inflation expectations. what is going to happen with the fed tightening? already we are seeing u.s. consumer inflation excitations rising to an eight year high when it comes to those numbers. right now the median three year, you can see it around the 3.7%. the one year even higher when it comes to consumer expectations of where prices will go. haidi: and finally for the

more capital and become this sort of huge player and you mentioned uber then you have gamestop and amcnd the story's remaining to be seen and how do you sort through the stories and narratives >> right uber is definitely not where people want it to be the market definitely serums to be under valuing it relative to doordash and cast off the piece of the business and that investors don't seem to be giving it full credit for the stakes it has but i just think that the broader point here is just that tesla is like the best example. right? a sub text of my argument is just that the s.e.c. and regular laters looked at the xuanxus and thrown up warning signs but it feels like they let the market go and very slow to act and seeing with the investigation on tesla's self driving technology and whether everything is up to what they promised it's been obvious to anyone following tesla is there's lofty claims and you have to wonder are regulators willing to take action before the market corrects itself and then if there's a correction look back at the companies saying you shouldn't have done xyz bu

about 95% of its theaters are now opened, and amc posted a better than expected quarterly report card yesterday with revenue rising to $445 million. itth loss narrow to 433 million and the head of the company hopes for a happy hollywood ending in the future saying, if it was a movie, it would be called recovery. the company also announced it will accept bitcoin as payment beginning by the end of the year. >>> dominoes is giving away $50 million of free food. the pizza chain says customers shouldn't be hit with surprise fees by third party delivery apps and promises surprise food with its own delivery service. one in every 14 doll knows couples commerce who order through the website until november 21let receive free pizza cheesy bread or chocolate lava kate. for more head to cbsmoneywatch.com. i am diane king hall at the new york stock exchange. >>> the calls to shut down san jose's reid hillview airport is intensifying. doctors are concerned about lead pollution from small planes. they are concerned about a study showing elevated lead levels in children who live near the airport. rese

and, by the way, amc started the session today down.by about two-thirds of a percent. but the rest are down. the point is that these rather pronounced moves are signaling that what used to typically be a quiet end of summer lull in trading volume might be anything but. let's bring in our traders. we need to know what you guys are doing. chris robinson, i want to start with you. do you have battle gear that you're going to be bringing with you along to the beach or wherever you're going? it almost feels like you have to at this point. >> yeah, unfortunately, if the markets are open, you know, i've got two cell phones, my laptop and an ipad, so i'm ready to go in case something happens. [laughter] liz: and what are you doing on them, especially on a day each when you're not in the office -- even when you're not in the office or in front of a camera? >> well, i think at this point, what, it's the 50th day in a row we've made new highs? we talk a lot about this, you know, certainly since the lows last march, we need to protect profits. most

to be a booth on the heels of the amc networks earnings release amc entertainment is currently up about0. the unemployment rate expected to hit a pre-pandemic low. but signals leading up to in number have been mixed we have the weekly adp report, strong ism manufacturing and services, especially the employment indices there, and moderate indications from two of the high-frequency daughters we are cover. >>> in addition to the impact of the delta variant, we'll be watching indications for inflation. steve pierpont points to just how pervasive and severe upward wage pressures have been they think the headline number could be over a million, because many weren't hired, so many won't be laid off so a lot to look at and look through in this upcoming report, andrew. >> steve, before you go, what do you think we're going to see when it comes to the states that ended some of these programs early? >> i'm working on that right now. i have at least three reports right now, two of which are from ukg and homebase, which as you know, they deal with actual people who are punching time clocks and real

looking at amc from a technical standpoint mainly and we were on last week and went from 40 - 46 likeidating sense and here we are about 46 if we can get through 48 i see 60 pretty easily it just always has a lot of interest and still a mean stock and if we see any kind of optimism on back to normalcy with moviegoing and as we get into the fall season and a lot of movies will be made that could help fundamentally. as far as ibm i think it's undervalued compared to many of the a.i. tech companies and it's a supercomputer with a big interest right now for the government. i'm watching it very carefully. charles: nvidia got the contract and it has to follow elizabeth warren to know that was going to happen. mark i know you like hum a, ten seconds, why? >> the engineer human tissues mostly blood vessels, these are available and off-the-shelf you can transplant them and anybody, where is it used, trauma where you don't have a chance to harvest dialysis, artery disease, over a billion company at less than 200 million. charles: that stock is on the move, we always appreciate it, lauren sim an

get e*trade and start trading today. >>> welcome back well amc making some mean stockteres very happyl accept bitcoin as payment by year end. and amc is not the ome one tesla will most likely restart accepting bitcoin as page on its later conference call. even soccer start lionel messi includes digital tokens. but let's talk honestly. are people going to use an asset that fluctuates so wildly in price to buy every day things? or are these just corporate marketing gimmicks, gimmicks with perhaps a really annoying tax implication. mckenzie is joining us now with more on this, writing about it on the website is this real or is this a pr stunt by the companies >> hey, brian. so the short answer is not really real. i mean people aren't using bitcoin to buy every day items and that is partly to do with the fact that not a lot of retails give them the option to spend it do you have microsoft, over stock, your occasional restaurant that will let you use your crypto wallet on their website or in person but these are the exception to the rule. what you tend to see more often are companies that

a lot going on with amc. are you on the earnings highlights and how earnings has impacted how you allocate capital clinic earnings have been fantastic. about nine of the companies are coming out beating earnings at least beating earnings if not better. a company like amc, it was going to go broke almost before covid. they have obviously been able to raise money here. i'd be wary of a company now that the theater business is on its heels is really in trouble. i don't know there's too much of a future there, but earnings are great and i think they will continue to be great for the foreseeable future, so all of the markets kind of price a lot of that in. there is going to be good news and i think there will be a lot of tail winds up for stocks over the next six, eight months. maria: and i know you have been bullish on small-cap. are you still have ian small-cap, where are you in terms of the most opportunity right now, craig? >> good point. we think small-cap will be better than everything here. versus gdp histo

analysts say the move marks the joining of two highly speculative entities bitcoin and amc.t lower on wall street today, despite a positive report on jobs and hiring and strong corporate earnings. the dow lost 106 points from its recent record highs. nasdaq gained 24 points and the s and p take down four points. senate democrats unveiled a budget plan today that seeks to significantly expand the country's social safety net. democrats are proposing to spend $3.5 trillion on health care, child and elder care, education and climate change. the programs would be paid for, in part with higher taxes on corporations and doubling the tax rate for the wealthiest americans on their investment income. the budget resolution could pass by the end of this week and would follow the separate $1 trillion bipartisan infrastructure bill that will likely clear. the senate tomorrow. the new york state assembly judiciary committee started discussions on impeaching new york governor andrew cuomo today an independent investigation by the state's attorney general's office concluded the cuomo sexuall

it's great to have your customers participating on ipo it's good for marketing, but it's not like amcail investors are the company and driving that forward >> gina, what do you make of the trend? is this a meme stock or a semimeme stock, maybe? and what about the issue of the insiders in this company selling their shares robinhood has held out as a company that's good for the little guy, good for retail investors, part of revolution in trading. yet you see the same thing happening where the insiders are selling tens of millions of dollars of stock on the first day. does that hurt the image of the company with its base? >> whether it hurts the image of the company with its base, the point of their ipo was that i don't think they could actually place as much stock as they would have wanted to with the actual institutional investors who tend to be more buy and hold and tend to create more stability in the first days of trading. so, because they were sort of going for this retail feel, it had a retail feel, which is very bumpy. and the reality is that i think their entire business model c

and civil amc is still a long way from its intrinsic value and they're not having any of those people they're going to have 50% of the people they had pre-pandemic unlike viacom, which is trading today, civil amc is just way above its intrinsic value. >> now down 6%, mike, a possibility of gaming, other ways of using its brick-and-mortar footprints, aaron seems to demure on whether he's had those conversations in fact, i think he said he had no conversations. >> adam aaron is putting up a sail, and we're going to catch that breeze, whether it be bitcoin or some gaming, other events they're going to feature in the theaters, but look, 10,000 screens, if you don't have the movie companies have a heavy release slate, and a lot of people filling your theaters, it's a tough way to get around it. >> the senate that is approved the infrastructure bill with a final vote of 69-30. a number of names are rising on the news president biden just spoke about the deal ylan mui was listening in. ylan, what was the key gist of his messaging? anything particularly new? was he celebrated? or not yet >> i

grown its business with that capital and certainly the jury is still out for other meme stocks like amcthe capital that he's been able to raise, then fine i think andrew ross sorkin calls it manifest destiny. but i think elon musk has fulfilled that so far. >> manifest destiny of the meme stocks before we go i want to get your two cents on what's going on at snapchat where people are fleeing the platform for youtube and tiktok as they say money is drying up. creators have complained that a million dollar a day payout snapchat promised no longer exists and there seems to be no rhyme or reason as to who's getting paid and how much. snap shares are down about 1 1/2% today still up 50 erase this year. deirdre, i know you guys spoke about this this morning. what are your conclusions? >> well, if i had a tiny violin i might play it. i do feel for these creators who are used to getting more money but the reason that facebook and youtube and some of the other platforms, new platforms have proliferated and are putting the focus on creator monetization, i think goes back to snap leading the way a

if you look at amc and gamestop, that's what happened there it's almost now entirely owned by retail. >> if you say, come in as a ceo, not that rye roy needs a new ceo, but if they were looking for a potential high-profile executives, it's hard to get people who may look at a stock and say, we don't -- it doesn't seem to be based at all with the fundamentals in how the company is doing that can be another factor, it might make it harder to recruit people. >> kate rooney, thanks very much i'm sure we'll be talking about this more tomorrow, perhaps. >>> coming up, the ceo of kontoor brands, raising its outlook, we'll talk to the ceo of the direct consumer strategy, and whether denim is driving results. and we'll dive into the growth versus value debate again. our market guest will explain why not all stocks are created equal. >>> some of the stocks are hitting 52ee-wk highs, fresh ones, in today's session usaa is made for the safe pilots. like mac. who can come to a stop with barely a bobble. with usaa safepilot, when you drive safe... ...you can save up to 30% on your auto insurance. u

amc still reports next week.n the air it's vital to have to be able to stick it to the man. i haven't seen anything like this, these guys are amazing do they know that they're communists do they know that they're marxist? they hate the rich. >> the one thing i hadn't thought of is the idea that there's only so much money to go around you got to pick your bets. which one's going to get sold if you're running to robinhood? >> i think they have to sell amc because the new -- i think that the new variant makes it so you're not going back to the movies again you got the big screen tv. the hope was that the variant would go away. we all know too many people who have had breakthroughs >> thank you we're going to see you in just a few minutes. love to talk to you about. >> planet of the as, wpehen we come back, what you need to know ahead of the opening bell on wall street. stay tuned that building you're trying to sell, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchang

this is the direction things are going, amc, the largest movie theater chain, going to start acceptingitcoin by the end of the year if you make your purchase for concessions or tickets online or on the app. now, why would they do this? sure, this is the way things are going. more and more people are using crypto but the whole mean stock trend going on with gamestop and these young amateurs, savvy folks getting on, inflating the price of these stocks, well, amc was one of them as well, so the ceo is maybe thinking i got these young tech-savvy folks as young investors, maybe this will adhere to them. hey, they're not the first, not the last, they're just the latest. amc, we are talking about home depot, whole foods, microsoft, at&t, paypal, venmo, all in some way, form or fashion are starting to allow folks to use cryptocurrency, bitcoin in particular. this is the way things are going. don't know if you own any. didn't bring any. the prices can go all over the place but right now some almost 50 million americans own bitcoin in particular so this is the direction things are going. see tha