how do you deal with 8 million shareholders adam aron is using social media and rehing out to them andd for the company. we'll see how long it lasts. >> if they have a areholder meeting theyave thee ders to hold it. >> need a big theater. >>> still ead, elon musk nding himself in trouble again thanks ttwitter. once the need for vaccine slows down will the drugmakers nd a shot ithn e arm? we'll dig into that when "power lunch" returns wealth is shutting down the office for mike's retirement party. worth is giving the employee who spent half his life with you, the party of a lifetime. wealth is watching your business grow. worth is watching your employees grow witit. prcipal. for all it's worth. >>> welcome back bio tech stocks in the vaccines had incredible runs since the outbreak began moderna stock price hitting an all time high today. up 800% since last year. biontech up more than 500% novavax expected to submit for approval this year up 4200%. but will the valuations be sustainable? let's ask jeff meacham you have to think through the hard questions like this what answershave you co

adam aron really is seen as playing to the reddit crowd here w. the capital raise yesterday which was seen i think by analysts as strategic a good way to raise cash as the share price is up 3,000% this year it is a strategic move even though the reddit traders don't see that as the appeal here, there is a sense by sort the retail trading community that adam aron is reaching out directly to them this investor-connect announcement that they have made there is a portal on amc's website saying reach out to us there is free popcorn, which everybody loves. reddit traders you have seen it on wall street bets and on line forums are seeing him -- he has described amc now as an underdog which is a prevailing theme in any of the meme stocks amc, blackberry or any of the underdogs. he is playing it strategically he is smart on both sides, at am aaron on the analyst side saying we will raise cash and on the retail side and knowing this audience makes up 80% of amc's shareholder base. >> a lot of people want free popcorn today. stock up more than 100% i love mo

here is what's making headlines at this hour amc entertainment ceo adam aron sitting down with trey collinscompany's largest pool of retail investors. it offered aron unrestricted access aron used that opportunity to persuade shareholders that allowing new shares was in the best interest of amc's future. >> if you arm us with the tool to go find value creating opportunities, we can do that. if we're not armed with this tool, you're tying our hands behind our back, you'll make it that much harder for us to land some of these attractive opportunities to benefit it. >> making the argument not only for what has just happened over the past week in terms of the shares that they did sell but for the opportunity to be able to sell some more shares in the future talk about m&a. >> the tool being cash, right? >> the tool being cash if they can sell shares to the public at these types of prices, they can use it to pay down debt he talked about all of the other movie theater chains going out of business going bankrupt during this period and the opportunity to consolidate and buy some of them one of the

adam aron. >> the dow is up 57. bob pisani here at the nyse. starting to peel a little bit more like -- feel a little bit more like normal with you guys back. subways are a little more crowded. highways are a little more crowded. flattish open. let's call it that new high 4232, the old highway back on may 7th. sideways since then. everything is moving europe closed at a new high or at a new high today, and two or three points away from a new high let's call it close enough and the reason we've been doing so well is not just rotation, essentially everything has been up look at the sectors, we have new highs at the close on friday, we had new highs in energy, oil was at a 2.5-year high financials are at a new high bank stocks were at a new high and health care lagging a little bit. and tech stocks, 2%, from the historic high there, so we've got cyclicals moving up, we have defensive names like consumer staples hitting new highs as well the whole market has been essentially rallying the big story is essentially are we at over this goldilocks scena

adam aron brought the company to where it needs to bring down debt, raising capital until we're fullyim a genius in the way that he navigated this whole reddit frenzy. >> well he's taken the tailwind and he's used it and playing offense. we've said it on the show, karen said it, we brought it up few times, get out there and raise capital. when they raise capital at $9 a share we applauded that. raising capital at $30 a share wherever it was at the time they did this transaction even smarter. so, and at different times, whether it's a company -- not comparing -- but at tesla when raising money and improving the balance sheet that's a growth capital story is -- again, it almost becomes self-fulfilling and gets them to the other side. i don't think a m c business is ever komackiing back the way ever coming back the way it was. the life we knew before. the broken company before covid, i don't think suddenly mends its ways. >> there's a filing in which adam aron said they're looking at locations on the west coast in terms of the stress chains, locations that will not reopen now. >> note to

adam aron has navigated this reddit frenzy like a pro, like he's been through it before. what do you make of this >> he's handled this brilliantly, absolutely perfection, he tishd bonds in december the highest security you can have, 15% interest 15 that's crazy he was doing anything to just save the ship and then the miracle happens and wall street bets, they're all excited and the story gets a life and he's able to sell some stock. remember that was at like 9 or 10 and on conference calls he said they own a majority of my stock, i work for them and the stock rises again, he raises more money, and reddit apes love diane and the gorillas, he has the company donate $50,000 to that and $50,000 of his own money, absolutely genius stock goes up again. he sells more. he offers popcorn and discounts to shareholders. brilliant. they love him. and then today he files this be afraid. you're my guys and girls you've helped me, i don't want you to get hurt brilliant, again i mean, kudos to adam aron, he did everything possible to save the ship and i don't know if he gets it or not bu

flat just after more or less losses, following the movie operator's second share sale in a week adam aron trying to gain support for an issue of another 25 million shares they basically reached their full argument ration, around 520 million share, that's all they can issue and last night he sat down with trey colin, the owner of the trade channel on youtube. take a listen. >> if you arm us with the tools to go find vault creating opportunities, we can do that. if we're not armed with this tool, then you're tying our hands behind our back, and you'll make it just that much harder for us to land some of these attractive opportunities that benefit us all. >> talking about opportunities and the ability to continue to sell stock into a market that is willing to value this company at some $25-plus billion equity value. and yeah, adam aron wants to sell as much as he possibly can, because in doing so, you have the opportunity to significantly reduce their debt load i mean they have already raised i think what is it almost $3 billion at this point, since this all began they still have i think wha

in the same token, of course, adam aron today in part of the filing says, you know, well, we wouldn't recommend buying the stock at these levels, you know, blah, blah, blah but your point is well-taken >> yeah. look, that's what they're doing, and it is a brilliant move by amc, raising capital at these prices, which is not as dilutive as it would be if they were trying to raise at much lower single digits. yeah, there's the clown car that's enabling the professionals and the companies, but it is not indicative of market top these four or five stocks are not going to do anything for the market it is not calling the end of it. it is just a side show it is an entertaining side show, but i'm not playing it i don't even have them on my screen >> josh, you know, do you think that this is a side show it feels to me like this is the show, that it is an indication of so many different things. it is an indication of risk, it is an indication of a speculative market, it is an indication of a fed-induced market it is an indication of just sort of where we are. it is an indication of how retail is

i think that speaks monuments of how great of a ceo adam aron truly is.idering all the negative media which is almost all the financial media, how important was for amc to climb off the canvas to keep everyone stoked and confident? >> right. the last six months has been a slow windup to the story book you're reading now on the charts and i think over that period of time there has been a lot of retail investors or apes, doing studying, doing due diligence, crunching numbers, more importantly emotionally preparing themselves. the last squeeze that happened in january, i think there was a lot of things to be learned. this much time to now i think people were emotionally prepared for sort of moves that happened. to have the momentum continue obviously a great opportunity to give some good momentum and hype to the community. that is ultimately what it comes down to. keeping spirits high. keeping the new apes out there that join the community and happy an telling those stories. charles: i got less than a minute, trey, just tell us what is the end game? where do

joe. >> thanks, andrew. >>> amc ceo adam aron reaching out.nia continues in that 8 k there's a pretty interesting -- pretty interesting quote that we can get to where the company actually said we believe the recent volatility in our current market prices relate market dynamics unrelated to our underlying business or macro or industry fundamentals and we don't know how long they will last. >> the better line, under the better circumstances we caution you from investing unless you are prepared to lose all of your investment. >> company disclosure. you might die. >> i love those on the nightly news, man. what i have is not as nearly as bad as if i take this stuff. >>> check out the shares of cannabis company tilray. this morning cannabis carol resuming coverage of the stock with an over weight rating price target of $22 a share. "squawk box" will be right back. >>> time now for today's aflac trivia question. who is the voice of apple's siri the answer when cnbc's "squawk box" continues aflac! let's see that one more time. ♪ ♪ (bleep) (wincing) oo

. >>> and speaking of amc ceo adam aron communicating directly with investors.e of the company's movers this year could slow enthusiasm for the stock. "the exchange" will be right back >>> welcome back what a ride it's been for shares of amc up about 88% completed the sale of 11.5 million new shares in mere hours yesterday but that's not the wildest number coming to amc seema mody has that story. >> amc is capitalizing on the enthusiasm with stock sales this week selling $230 million worth of stock and then another 11 million shares of common stock to the market amounting to $580 million. before this week amc raised $1.6 billion january tomato pay down the debt at around $5 billion. but these stock sales come at a cost 80% of the total stock is issued over the last 12 months. and ceo adam aron says more sales could be in the cards and asking shareholders to approve a proposal to issue more shares but not this year. >> if the shareholders approve a new 25 million share tranche, theoretically we could use them quickly in 2022 or use them spread out over a long per

enough capital to get escape velocity and think outside the box the way tesla has is clearly what adam aronas in mind. the question is how many followers on the sell side willing to think that broadly about it and a couple fewer on that front today the perfect person to ask about this, dan niles who joins us to talk about amc and pockets of froth in the market at large happy friday thanks for being with us. >> my pleasure, carl. >> so 30,000 feet, it seems to me your view is that, a, these pockets of froth or whatever you want to call it aren't new, they're comparable to things we saw a decade ago or even before that they're a function of money supply is your view. i guess the question is, do they bother you do you think it makes people question the systemic health of the market at large? >> well, there's sort of two answers to that. as you brought up, people think this is new, it completely isn't. if you go back to a fortune magazine cover that i sent you, trader nation, and that was 1999, and one of the tag lines was, they can break you or make you rich so that's what we're going through

we know that adam aron's background is hospitality. he knows that, starwood.g a deal with a real estate investment trust saying, look, we will put theaters now that covid is waning in your -- you know, top flight theaters in simon property group, in federal realty adam knows everybody he can put some sort of theater wherever you need it, and he's going to own this business, which in the end is going to be a great business adam is a fantastic manager, but what he really knows how to do is run a stock, and it is simply brilliant. you got to admire it just for the moxy >> jim, we got about 60 seconds left here. you know, if you had been with us today you might have commented on the goldman downgrade of sin mark and i max down to sell directionally do you think they're right on what attendance is going to do >> i think it is going to soar i think people want to go to the movies, and i think adam should buy both of those in a heartbeat and become the king. the gold winner, jack warner, adam probably wants to be jack warner so it can happen. i love that. adam, warne

you're like adam aron, you want them >> well, i don't know if i'm like adam aron, but i'm very, verymething, and myself having four kids, you know, that group of gen z that are out there trading within our stock today, they're technology savvy, retail savvy, brand savvy. sara, you want them as investors. you want them as consumers we're using them to get a lot of feedback on our products i've got to tell you, you look at our stock today, we trade at close to 30 million shares that's almost on a daily basis so there's a big, big retail population out there that are buying our stock, talking about our stock, and through social media is getting the word out. listen, there's a lot of things you have to do in regards to shareholder meetings and that to be able to bring retail shareholders in to vote, et cetera but it's a great base of shareholders to have because they're so educated about your company and educated about your products it's amazing when you come back and look at what they're posting about our products and what they know we love having them as part of our shareholder base >>

we had ceo adam aaron 'em embracing this reddit frenzy this morning aron tweeting about it trying to rally investors he painted amc as an underdog. he says in our view this is not mindless dilution, a very smart way of raising cash and says, watch out naysayers, amc is going to play on offense again back to you guys >> kate rooney kate, thank you very much. david, you've been looking -- what a deal. >> yeah, interesting mike joined us on "squawk on the street" this morning and we were talking about this and speculated mudrick didn't get back to me. it's a stressed asset management firm i called him in this morning but i speculated they might sell the stock very quickly and they were beneficiaries as well because they had been a creditor to the company. they played on the liability side of the balance sheet and concerted some of that into stock in the past. the same levels -- far lower levels where silver lake sold the stock, once one of its bigger investors and who controlled this company sold out at a level less than half we are right now. they made $30 million on a day trade and al

whether, david, it's about a downgrade of imax and cinemark out of goldman, it does appear that adam aron has incredible situational areness and leaning into the reddit crowd. >> he is leaning into. it his contention is pretty simple as you lookt some of the work from goldman of course, where they're talking about a box office recovery, not going to be as strong as people think because of course something we've talked about endlessly here, the shortening of that window, and changing behaviors in terms of consumers but when it comes to mr. aron, i think it is pretty simple from his point of view, i used to have an insti institutional shareholder base i had large shareholders, for example, wanda bei the largest, controlling shareholder for a while, institutional base, and now they're gone, it's shareholder base on retail, it's people on reddit, it's others, and it's retail and i need to communicate with the owners of business and the west way to do that and it may be through this new connect platform that they're putting togeth, where you can get some free popcorif you do connect with amc i

then you say, what is a smart guy like adam aron going to do when he has the capacity coming back tos. on the other side as you point out, there's like 500 million shares selling at 38 and they still have about 5 billion in debt what does the business do? what happens long term over the next five to ten years will they -- because of the paramount decision, 1928, was changed, what does that mean with regards to his ability to create content is he going to get a piece to stream those are the pluses from my end i have an old saying that i learned years ago, either you make dust, that is you buy the stock, that is buy the stock, you short it right now, get out of the way we don't own this. we have a conference tomorrow. we have markets showing up we have reddit showing up and other theater chains we will look at other companies and see what they think about the revenues at the box office that's it. >> mario, what media and entertainment stocks do you own right now? >> let's step back and say the following. we have content streaming. let's talk about streaming spotify has 400 plus million

. >> when adam aron said hey, look, you better not be in this stock if you're a squeamish sort because you may go to zero here. you don't hear that often from ceos except occasionally in i guess some filings where they almost obligated to say sump things. >> even in this case i do think it is kind of a legalistic let's cover the backs on this. >> right. >> but also recognizing that selling 11 million shares into a market right now in this kind of a froth that's traded a billion shares in two days did not matter they would feed it out and taking a $10 discount to what it traded at yesterday so what? there's a found money. there's a corporate calculation going on realizing we might as well take what the market gives us for now and it's always been the case of rooting interest, an element of being part of something big going on right now in the markets. i rememberwhen online quotes were -- became a thing for the first time and watch the stocks move i think this is a bit of an accelerated version of all those things and not necessarily new that basically stories drive stocks in the short t

have taken very different approaches in the way they harness the retail trader let's start with adam arons what you expect from a more old school, hospitality executive. putting the customer and investor first he was the ceo of star wood resorts, norweigan cruise lines. he's been reaching out to this group of traders on reddit the movie theater chap in launce its on portal. they have perks like early screenings, free popcorn he's reminding investors a couple of times that they own the company and he works for them now over the ryan cohen. he's about 30 years younger than aron he's the founder of chewy. not the ceo. although he owns about 12% of that company, what he says really goes to game stop he's been face of this company and cohen is not as explicit in this outreeach to the reddit crowd. his tweets can be sort of k cryptic. the ice cream cone we have gotten almost no details on that. game stop hasn't taken advantage of this recent to make more money. kelly. >> i think that's a good point you make while the jury is still out on what happens with the stock price of both of these compan

have gone bankrupt can raise capital and the credit environment improves >> right you know, to ceo adam aron'sdit, he is riding the momentum and enthusiasm around the stock. with all of that, wall street is cautious $10 is the price target. amc trading at $48 a share i wonder where you think this stock should trade at. >> we saw this in january and february where credit markets are saying one thing and these stocks were up in the heavens. they had a 70% drawdown. for investors watching us now, the credit markets were right in january and february they were telling you there was a drawdown coming and we had a 70% drawdown they are back up if i'm a young eer investor and you want to ride the wave, go ahead. if you want to take half the gains off the table to reduce your down side, then you should not be in the plays. you can get wiped out overnight. if you have to, make sure you are managing risk the best you can. >> understood. quick word on broader markets, larry. what it means for the broader averages >> what is weird is since the last six months we had the s softbank blow up and archegos blo

since around the end of may when the spike got pretty noticeable but not among them was a ceo adam aron of amc shares, i wanted to be very clear on that the russian the run-up that so many of the insiders are selling minuses ceo so it could be your perspective on that whether the sign of things to come whether to push them on that point but he's not at that point i apologize for the confusion, on the meantime i want to focus on the market, a lot of this is built on optimism of accompanying country coming back, that is no more obvious than the shows that are returning to vegas and sold out right now, some of the months in advance, edward lawrence following all of that in las vegas, what a sweet deal he has in las vegas. >> a pretty good deal i'm in the theater inside of the bellagio they let us in the door cirque du soleil starts live performances on july 1 the crew has been getting the theater ready they change 28 lightbulbs today alone it's like starting over because this theater has been dark for a year down las vegas boulevard has a live show tonight with an unrestricted audience you

meme trade, i have to ask you what's your approaching to to be to this are you going to take an adam aronctly with investors? what's your play here? >> absolutely. look, great to be with you this morning. we are committed to providing value to our employees, customers and investors over the long term that means a few things one, building highly innovative solutions, two, building deeper relationships with ad buyers and lastly growing our market share. it is an almost $400 billion market opportunity we have only been public six months whether it is retail investors or institutional investors we are committed to connecting with as many as possible. >> a lot of the retail trades are not connected to fundamentals i want to ask you about fundamental challenges apple making it harder to target adds own their devices google making changes when it comes to cookies and facing challenges in their alternative tracking strategies. how fundamentally challenges are those two big changes going to be for your company? >> these are significant changes in the technology ecosystem. we have invested heavily

last night the ceo adam aron speak to retail traders on the you tube channel and talked abou another plan to issue more shares. >> if you arm us with the tool to go find value creating opportunities, we can do that. if we're not armed with this tool, then you're tying our hands behind our back and you'll make it just that much harder for us to land some of these attractive opportunities that benefit us all. >> the latest post to issue stock comes after amc told 20 million shares in two offerings this week. one yesterday and 8.5 million shares to mudrick capital which the firm flipped mudrick no longer owns any debt or equity in amc the meme stock has presented a challenge. webbush upping its price target on amc to $7.50 saying they don't recommend buying shares right now based on volatility. bank of america removed its rating on another meme stock, bed, bath & beyond they also terminated coverage of gamestop as for amc, trey collins from trey's trades told cnbc earlier the stock's fundamental value is somewhere in the $20 to $25 range but there's money to be made on momentum i though

. >> and said listen to meme stocks or adam aron comes out and says i have to do 500 million shares here because this is taking the game on. or ryan cohen comes on, the punitive ceo or not really of gamestop and open up a crypto bank and 4,000 different stores. he refrained from doing that because he didn't want to be right on top when he said it and would give me too much credit. >> you know, in terms of what to do in the market let's take theses nally bad days out of the picture -- theses nally bad days out of the picture and broaden it out global equity funds show biggest inflows in three weeks while b of a flows show the sixth consecutive week of tech redemptions. >> so there you go so you buy tech. >> what's up with that >> enough with the oils. a great run. enough with the cumminss we don't know what china is going to do. who knows what china is going to do what you focus on is what you last heard that was great. so i listened to last night, this was adobe's first quarter. >> the stock is up this morning. >> ever. ever its quarter and he was so confident. a brainy-like, brady-like.

now we have adam aron going at it from a different strategy, and some of the other ceos what do you makengagement around it >> honestly this is one of the few things where i think they have done the right thing. i think it was smart of them to take advantage of their ridiculously inflated stock price to raise for capital to give themselves more time to try to turn the business around. but i don't think you necessarily have to, you know, engage with these, you know, shareholders who are talking about diamond hands and going to the moon hopefully ryan cohen wears pants when he talks to these people unlike the ceo of amc. that's another story to be clear, i am not a lawyer. >> don't think it mattered. >> i don't think there is anything that. >> i think it helped >> gamestop. -- i think you are right there look, i don't think there is anything that gamestop has done that has been untoward this is a unique animal. they.ed every i, crossed every t, i don't have any problems with them from that perspective. >> we are flashing on the side of the side counter-commentary from the reddit community,

companies have been very careful about their public statements both not trying to hype the stock, adam aronay basic had it to say the stock is overvalued guys even as we're selling it, so remember that. what gamestop said in its, this is why amc is off as well, is that we received word from the sec that there's an investigation, we're handing over documents. we don't believe the investigation is material to our business, so it looks like they're not investigating them, per se, and it's related to the trading of securities like ours, and other similar securities, so it basically confirms, ashley, what we've been reporting now for the last two weeks, that the sec has launched a fairly significant investigation into the possible manipulation of these shares that are trading well-above, you know, sort of rational expectations and even the companies are saying is irrational so remember, the companies are saying it, and you know, whose doing it? how it's doing it? how it's going about i think these are very difficult cases to prove. i mean, i guess you could try to link up message board hype, say

notably wall street betss his ad this week he started playing to that reddit crow adam aron knows hised playing to that reddit crowd in a tweet about company news yesterday, he painted amc as the little guy. he said watch out nay sayer, amc is going to play on offense again. here we go they are rating stocks they see as a underdog, youemember gamestop, aders rushed to buy that name as sort of a turn around story for a struggling brick and mortar video game store. the really stick it to the hedge funds who bet against that stock. today amc went a step further in trying to reach this new audience they launched a port on amc website. for shareholders, those who own amc stock can sign up for the perks including early screenings of movieand free popcorn in statement the ceo says he's really taken pride in relationships with amc theater owners over the years. he's now taking that same approach with shareholders he says after all these people are the owners of amc and i work for them you can debate if this stock is worth 60 bucks or not and many have today one thing is for sure, it was not a

i did converse over text with adam aron, the ceo because i asked him come on the show and yesterday he said he can't i've got some announcements to make that are material to the company so he couldn't appear on television and now we see today what that was. the big capital raise, but also, the company has warned that this is a very volatile stock, and again, the specific warning was you can lose money here. >> and they're right. >> basically told folks not to buy it, right? i actually admired him a little bit for that. what i wanted to add to what kenny just said, i think that -- liz: quickly. >> the large short position as an investment, that's an endangered species. you're still going to see guys like me and specialists on the trading floor of the new york stock exchange who will use short positions for reasons of liquidity but for reasons of long term investment, that's endangered. liz: got it. all right right now, amc shares down just 9%, after having been lower by 30%. kenny, sarge, great to have two highly experienced traders on this very subject. thanks so much guys. cyber hacki

traders and he said he's just focused on running the company sonnenfeld polled his audience asking was adam aron right 54% called it a brilliant move and just 3% of his fellow ceos said it was not smart but 92% of attendiees said the stock value was not an accurate representation of the value. stocks like gamestop, blackberry, bed bath and beyond, work horse have all had big swings in recent weeks retailer express which climbed 500% this year also announced a share offering sending its stock lower. >> let's talk about the retail move and mike santoli has a look and kristina is covering how short sellers have been impacted so far mike, start us off. >> if you looked at the market broadly speaking, you look at the s&p 500 the main benchmark it doesn't necessarily appear there's been much direct impact. why? we've been in this very, very unusually steady trend of flatlining since about mid-april. we did have a little bout of volatility it felt like more than it really was, down less than 1% of the s&p this morning i think the question now is are we churning and using up energy just treading water o

aron, why are they not net buyers of stock at these levels? why are the insiders selling stock at these levels? why did the chairman -- liz: well not adam. charlie: why aren't they buying? why is aron adam not buying and you'd think if he had conviction he'd be buying and the reason why they're not buying if you read some of the details on the financial disclosures that they put out today, he all but admits that the stock is over valued so just words of caution out there on this thing. i mean, listen. no one wants to see amc go out of business let's be real clear here. people are saying you want to destroy amc and no, i want businesses that employ people, but the reality, do you think amc is a $12 billion company? i mean -- liz: 16, honey it's at 16 billion right now if that's what it be the enterprise value at 27.12. charlie we gotta run, but -- charlie: go for it. liz: i know you do too. go get me a mojito, extra mint, light on the rum. charlie: you got it. liz: thank you so much for interrupting your vacation, charlie. by the way, we were up very early pounding the table on the amc story to get you ready in my morning market minutes on

sold in the first quarter three in the second and none in 2020 however, worth pointing out the ceo adam aron has never sold any of his shares since 2016. >> it would be hard legally for him to sell a share today. >> it would be bad optics. >> class action lawsuit from the shareholders. >> pointing out a lot of insider selling. not the ceo. you don't want to look at that look at shares at bio dprgen. incredible news for anybody who knows somebody with alzheimer's. incredible hope because of the new drug aduhelm this is the first treatment for alzheimer's in 18 years. providing a lot of hope and questions. >> there are a lot of questions. a lot of doctors and analysts who have severe questions and doubts about whether it works. >> offering hope we will see what happens the big question is what do insurance do do they pay for it when there are questions about the effe effectiveness. we will have more at 6:50 eastern time. >>> we have news from the white house in the last hour the biden administration launching a government effort to tackle disruption that plagued supply chains during the pandem

to exclusive promotions, and invitations to special screenings, as well as a direct line to ceo adam aron of 450 million shares outstanding stock is up 20% in the pre-market. >> finally this , maria. a rhino at the denver zoo celebrating his birthday by playing an original song on the piano. listen to bandu hitting the keys >> [piano playing] reporter: the zoo says the 12- year-old, one-horned rhin o loves to compose all of his own music. watch out, rihanna, there's competition, back to you. maria: i love that. that is amazing. thank you so much, oh, god that is a great video. meanwhile, texas governor greg abbott issues a disaster declaration in 34 counties along the texas/mexico border in response to the ongoing surge of illegal immigrants. the order authorized all available state resources to assist law enforcement in protecting texas from property damage, trespassing, smuggling and human trafficking. joining me is former acting director of homeland security, secretary, and heritage foundation visiting fellow, chad wolf. chad great to see you this morning thanks so much for being here.

reddit crowd this morning they say we will give you free popcorn and also exclusive content, and yet, adam aron social media and just directly speaking to people that he knows are buying in, which is the average joes. stuart: yes, it's extraordinary that we have to spend so much time on meme stocks and cryptos, and we don't spend much time on the $44 trillion worth of publicly-traded stocks that america has. reporter: wow. stuart: it's such a difference. reporter: can i note that goldman sachs did downgrade to two cinema providers imax and cinemarc, we came of that $100 million box office weekend during the pandemic, so they are saying it's going to be slow and to recover and right now the prices reflect all of the good news that's been baked in. stuart: what a difference, amc, what a difference a day, contrast. market check. big board now is mildly positive , just five points higher for the dow. the 10 year treasury, where is the yield as of right now? are we back, yeah, 159 on the 10 year. where is the price of gold? $1,900 an ounce he asks where are we? 1,908 and bitcoin i think around 37,00