joining us, its ceo anthony noto at nasdaq most likely. you, carl thanks for having me as well. >> you know, we've been tracking you and your journey at sofi really since i think probably around your first day. i wonder for how long have you envisioned a spac merger as a possibility? certain when you started with the company, it was just not the phenomenon that it is today. >> yeah. the journey we embarked on in february of 2018 wasn't so much about becoming a public company as it was about building a complete suite of products on a mobile application to help us meet our members' needs at every point in their life and be there for every one of the decisions they made and everything in between and knew at some point we would think about going public but wanted to make sure we solidified not only that strategy but actual results tied to the strategy which we have. a that point we then decided to go public and a question, what was the right vehicle? do you do a direct listing a regular ipo? a spac merger ipo? obviously we chose the path of do

we had anthony noto, ceo of sofy, the fintech company. banking system, are they not? you say you like etf's with financials in them. make your case. >> sure. we've seen a rotation toward valued oriented stocks that have led and etfs offer exposure to financials that are value oriented are taupe of mind of investors. invesco, rpv, is the our favorite value or remember ended etf. 40% plus in financials but exposure to energy, exposure to consumer discretionary companies like ford and valero. we think these are deep value stocks that are still attractively valued the way we can get them going forward. there is still room for up side. there is out of favor heading into 2020 and into early 2021. liz: well, yeah i wanted to get to the point also the pure value etf is not solely focused on financial names but as you look at some of the other areas when it comes to fintech i'm sure there are etfs out there. are you jumping in just yet on the future, whether it is defy, digital financial efforts right now? so many new ways of banking these days? >

we will speak to the ceo anthony noto at 1700 cet let's bring in the ceo of morgan free capital market. great to have you on the show. we had a guest yesterday on the show saying there were 400 spacs looking for targets. they all need to transact by 2022 looking for a company to acquire. it feels like the next 12 to 18 months will pose a big test for this product >> yeah, i think the great news is exactly as you described. we are finally reversing this two decade long trend of de-equity and taken back 500 of those over the past year very excited to see access to the incredible growth companies. these innovative companies creating industries of the future rather than staying private and being the playground of the wealthy. they are now being democratized by the spac market. >> there is a lighter touch to the spacs coming to market versus the traditional ipo how much of a threat after scrutiny from the regulators will pose the outlook? >> great question. i don't think there will be much change the regulatory process exactly the same there are a couple of minor differences in terms of for

emily: anthony noto, ceo of sofi . thanks for joining us.g up, lockheed martin and general motors teaming up to create an autonomous electric moon buggy. we look at the new rover and when we can expect to see it driving around on the lunar rock. that is next. this is bloomberg. ♪ emily: space exploration is getting a big boost. president biden's 2022 budget proposal gives over $24 billion of fresh funding to nasa in the largest amount ever to the space agency. the amount paving the way for more opportunities for space related research and deep exploration. on calls for nasa to make a lunar vehicle, lockheed martin and tenor motors teamed up to make an all-terrain lunar terrain vehicle that can deliver people and supplies to the moon's dangerous south pole region. joining me is lockheed martin's commercial civil space vice president and general manager. this is fascinating. talk to us about had this test how this lunar -- how this lunar rover proposal is different. >> excited to be here. the artemis program is going to take humans back to the

>>> sofi making its trading debut days after finalizing its spac merger deal ceo anthony noto was onc earlier and gave his take on tailwinds that have helped the fin tech company move higher in the past few years. >> the biggest trend that we've ridden over the last three years is just the sector acceleration from physical financial services to digital financial services. that has only moved faster over the back of the stay-at-home phenomenon over the last year. >> some banks like citizens financial is still betting big on physical locations. they are going to acquire 80 east coast branches. joining us it citizens financial ceo. bruce, i get confused because it's the afternoon but i'm usually here in the morning or broadcasting in the morning. why the purchase of these branches why is this still a business that you want to actually grow in >> well, it's very attractive locations for us we have a gap between our new england franchise and the mid-atlantic franchise so to be able to acquire 66 branches in the metro new york region is an important market that we want to serve. we also go

at rosen blat, $30 a price target, and that's substantial from here because it is at $21 look, anthony noto jpmorgan's of the world, sofi, paypal, it is a trinity, right, it's square, paypal, and noto injected himself into the debate. >> the trifecta of kind of paying for jamie dimon yesterday, right, the sort of -- >> we didn't get it. >> we could have gotten it he has tremendous engine for the companies that don't have to play ball with the regulators, don't have to worry about the deposits and what ted say, jamie is basically saying, we should talk about this, these guys can do whatever they want, i think he's right that it is not fair, but life's unfair. fair's got nothing to do with it it has nothing to do with it classic wine. >> fair doesn't have anything to do with missing the boat missed the boat. >> he said so. we didn't say so he said so >> bob pisani, today's the big day and when the real work begins right? >> we have the second half of the year, to go through flattish open is the way for the fed and the inflation trade is looking very, very topee, and look at the sectors today

anthony. he does a great job but candidly he's been my friend since 1995 so you can say wait a second, cr cramer likes notooo, boo, boo-yah, ji jimbo. why a how are you? >> having a great day. you? >> caller: i'm enjoying the sand and surf and nice to see everyone opening. >> i like the garbage truck that interrupted me during my nap today. >> caller: it's all good happy it friday. >> indeed. >> caller: happy to get out like i said more importantly, i'm happy to ask you to analyze a company that you've had on the show before you liked it, the stock sold off, wonder if this is a good entry point for good rx. >> i like it and the coupon business but i have this bad feeling they're up against amazon in somew way, shape or form people always fear amazon. i say you have to stay away for now. it's got an amazon issue i need to go to joseph in florida. joseph >> caller: what's up, my man how are you doing? >> well, how are you >> caller: good, good, happy birthday to my dad and happy father's day a ashford hospitality trust. >> they are able to refinance the preferred. not my game, not my style. i say sell, sell,