everybody, including myself, by the way, was tripping over themselves to be long the name good for jim chanose, as well. >> i agree with that, certainly on jim, but i agree on the concept of this is a company that's really not going to make money. and i just don't know if i want to own stocks like this in this environment. i believe that coinbase has a legitimate business and i believe that they are certainly taking a major demographic, have an enormously sticky market. people that are going to continue to grow their crypto experience through coinbase, they're going to trade multiple currencies and begin to trade nfts i just wonder in this environment, is this a stock i want to own? this is not one of the ones, we call them the high-multiple tech stocks, that have crashed that will be any first in >> i agree it to focus on companies that have real earnings and real dividends. it's nothing i'm trying to throw my money into right now. >> it's more macro environment versus stock-specific at this point, but no one is reaching in a higher rate environment for a quote/unquote growth stock it's been

just shy of 1% >>> coming up, fin tech names have gotten beaten up, and jim chanos sees further pain for coinbase one says it's a solid long-term play the thoughts next on "the exchange". hey businesses! you all deserve something epic! so we're giving every business, our best deals on every iphone - including the iphone 13 pro with 5g. that's the one with the amazing camera? yep! every business deserves it... like one's that re-opened! hi, we have an appointment. and every new business that just opened! like aromatherapy rugs! i'll take one in blue please! it's not complicated. at&t is giving new and existing business customers our best deals on every iphone. ♪ ♪ >>> after a weak start to the year, the fin techs saw a rally last year. square up 42%. paypal up 20%. coinbase up 16%. jim chanos doesn't think it will last this is what he said on "overtime" >> we're looking for companies where the profit forecasts are continuing to decline as the valuations stay up there are plenty of companies that are in the new economy that have real growth and real cash flows and real earnings. but th

. >> that was jim chanos unveiling a new plan, calling it a bubble stock that is being sold on a story to someone about this next, but we chatted about this ourselves last week. it's not cryptos we've seen more institutional investors saying it's going to be a major trend or asset class. what he takes issue with there are companies that perhaps may be washed out. john, if we are in this sort of '90s moment, so many companies and funds pouring money into crypto, but consolidation down the road. >> you know, i can't help but keep using the musical chairs metaphor because markets eventually seem to feel that way, right the music stops. there's a chair gone everybody rushes to sit down somebody ends up with their butt on the floor, carl, and you wonder at some point whether it's temporary or longer term that's going to happen in these crypto markets so how does that affect it like the volatility that we've seen up to this point, dee, if it's helping the coinbase and the likes of them to make money, fine but then if it goes away, does it suffer? >> yeah. many proponents of the space would a

. >>> let's turn now to coin base, short seller jim chanos unveiling new bet against the crypto exchangeling the platform a bubble stock sold on a story interview on closing bell overtime on friday. take a listen. >> we think that as competition increases in kcrypto, this is no a call on crypto or bitcoin prices or anything like that, as competition increases amongst the exchanges you'll see fee compression. as it is coin base will probably not be profitable this year with $40 billion market cap >> chanos also saying coinbase is overearning compared to its competition. shares down 30% for the year and on the heels of those comments, bank of america initiating coverage on crypto bank silver gate capital this morning with a buy rating $200 target calling the stock an alternative way to get exposure to digital assets saying it's well positioned for the expanded use of stable kocoins. so, of course; all that crypto stuff, dee, i'll turn to you first. chanos makes a decent argument that 40 billion is quite a market cap for this story, but if you believe that coinbase is more than just a trans

i think jim chanos says it's a great short. i think the time to short the stock was much higher.t to 10%. that's too much. you have too much in that one stock. let's go to jorge in california. >> caller: thank you for taking my call. >> of course >> caller: i'm interested in what you have to say about gild. >> no, i know it looks very, very cheap but you know what, that's not why we buy drug stocks we buy drug stocks because they have growth, and gilead has none that is the conclusion of the lightning round. >> the lightning round is sponsored by td ameritrade >> coming up, has the bear's roar become a bore how did the bulls trample downers in week locked with uncertainty? find out next. when traders tell us how to make thinkorswim® even better, we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim® web. because platforms this innovative aren't just made for traders -they're made by them. thinkorswim® by td ameritrade >>> one week ago, on

we are just getting started in just a few minutes, we'll speak exclusively to legendary investor jim chanosa brand-new short position right here in o.t we begin today with our talk of the tape that is this week's stock surge. whether it really does mean the worst is over. it certainly has been the conversation all week long right here in "overtime. >> we're in the neighborhood of a tradeable bottom >> what we're seeing in our world is there is a lot of volatility, there is a lot of