>> i mean, i think that right there that shows you that i actually covered in citron, i covered mispace, because i thought that they would be bought out, but at the current business model they will phase out. both things happened, they got bought out and then phased out. i suggested buying linkedin and now sumging to sell face booshgs because when you this company, you can be disrupted and the structure there and the network effect, and as josh was saying, right now, you have other networks and more i'm sure in the next 20 years before we take facebook and model it out, we don't know what social media is going to be looking like in ten years from now, and to say that we will, we are naive. and so to assign a $320 billion valuationk and this is not procter and gamble or exxon, but a social media company. and a technology company, and 20 years ago i would have bet on ibm as a tech company. it on shows you how dangerous at these levels to hold this stock, because kit can be disruptive. >> and paul meeks, you? >> and first of all, i would not focus on the market cap, because it is trading a

citron research tweeting that they're going to zero and also bankrupt.eep in mind, chemours was spun off from dupont last year. the stock is down 11%. it halted though and we'll keep an eye on the stock. it resumed trade, excuse me, now down better than 11% on this report from citron. we reached out to the company, scott, we'll let you know when we hear back. back to you. >> thank you so much. when something unusual happens, the nagarians find it and try to make money on it. you have a bullish move? >> i do. it's a stock that all of us know how negative it's been. macy's. a huge roll and then huge buy of the july upside options of 34 strike options. 13,000 of those trading. today, they're back in there again in the june option. just in the last couple weeks, how the stock itself is started to move to the upside. i know that was an option. but you take a look at the stock. it is over 33. nice move in the stock right now. bullish activity. >> holding period? >> i'll be in there for a few weeks. i went out to july. >> doc? >> marriott, judge. mar. the reaso

appreciate it. >> have a great day. >> andrew left of citron research.nterest is a good point. if it is a 40% short interest in the stock, a 3.6% squeeze is really not saying much. >> you would see it overshoot the range. the stock for stock deal, therefore, the stock down 10%. tesla, that is, putting pressure on it. that was all you needed to know. a guy like andrew was already short. probably laid into it in the close, too. >> for the folks at home, if you're thinking about shorting solar city on this, what andrew said is very important. check the borrow rate. it could get very expensive to be short. so you might make money on your short, but you'll lose it on what you're paying for the borrow. >> the technicals on tesla is 190 is the next level. we talked about this last night, it goes down to 170. a retracement. i've been negative on the stock because i don't think they need production numbers. so that's my trouble. >> another thing. >> it hurts them worse. >> you've got to respect andrew left. 170s, 180s -- >> but to say it's the next sun edison? >>

. ♪ citron research short seller andrew left says the stock is too expensive right now.statement, he said, i respect zuckerberg and his team, but investors have to put the size of this in perspective. snapchat is becoming a beast. left was bearish on pharmaceuticals in december before it fell 40%. facebook shares fell the most in nearly two months monday after gaining nearly 9% in 2016. it is the biggest deal microsoft has done in its 41 year history, and one of the biggest tech acquisitions ever. we speak with satya nadella and jeff weiner about their $26 billion tie up. ♪ get ready for the rio olympic games by switching to xfinity x1. show me gymnastics. x1 lets you search by sport, watch nbc's highlights and catch every live event on your tv with nbc sports live extra. i'm getting ready. are you? x1 will change the way you experience nbcuniversal's coverage of the rio olympic games. call or go online today to switch to x1. >> risk aversion is stirring a fourth day of losses in the asia-pacific market on concerns about the eu referendum and central-bank meetings in the

so, this is andrew's day, andrew left citron day. we'll make it satya's day. >> there were, i would say, a school of investors who got in because no one believed linkedin could have two quarters that bad. >> and that was right! i mean, well -- it wasn't just linkedin that had a bad quarter. go back over the microsoft april 21 quarter, and amy hood says the intelligent cloud segment, as i go, as opposed to the stupid cloud segment -- i didn't like that -- the intelligent cloud segment delivered $6.1 billion in revenues, which grow 3% and 8% just at the low end of our guidance range. and that was one of like -- that was another one of those ah hah moments. >> yes. >> well, that's changed. this is no longer going to be that guidance. association you'll hear their cash really wasn't doing anything. you're going to hear a lot of analysts say listen, i'm no longer concerned. there is a moment in the conference call where they were talking about how windows 10, we're still a windows 10 company. no! they're no longer a windows 10 company. >>

citron says its high margins will eventually come down when the competition heats up.eems to be the first public announcement of a relationship with intel or mobileye, when of the cofounders of the company, the computer vision genius behind its tech, he has another startup called all cam. it helps visually impaired and blind people see what's around them by basically telling them what they otherwise would see if their eyesight was ok. on ofcapital, the venture intel, is an investor in all cam. perhaps one of the mobileye's cofounders leveraging that relationship. elliott gotkine, bloomberg news, tel aviv. cory: turning back to a story we are monitoring, apple said to be in exploratory talks to acquire tidal, the music streaming service, according to an unnamed "the wall street journal" source. for more, let's turn to our bloomberg news reporter. tidal, which i had this week so i could see the kanye west video -- reporter: it is those sort of a good names which were -- cory: rihanna has exclusive stuff with him. i want that stuff on i have to wait otherwise. tidal based

it rocketed on its debut but it has since become a favorite among short-sellers, particularly citronh. mobileye as they short of the year. he is not doing too well this year on that at because when he made that call the shares were ever so slightly higher than where they are now. to convincenot able andrew leff. this year it is 127 which is the same as amazon. is ahe noted that there lot of insider selling going on. potential in research and develop it. obileye has been a bit of a trailblazer. intel is tying up the world's biggest chip maker. gotkine reporting from us live from tel aviv. the biggest diamond auction in more than a century did not sell in london as the top bid of $61 million did not meet the minimum asking price. seen fetchings $86 million. it weighs more than 1100 carats and is the size of a tennis ball and is second to the 3000 caret r-i-noor diamond. that is all we have for this markets:f "bloomberg middle east." has recoupedmarket all the losses. we have -- we're looking at a swathe of other things with oil down a fraction. and a lot going on and a lot to digest. ?

. >> a response to a report earlier today from short-selling research firm citron saying the company would be bankrupt. it dropped shares by 14% and recovered to be just about maybe three-quarters of a percent of the upside. the statement is talking about strongly refute the report and today they go on to outline the number of steps they have taken and also go on to say that and reducing cost and portfolio and decisive action under this plan. and significant cost reductions while strengthening its liquidity protectiliquid ty prediction. a couple things addressed and tu turn it to a formal level by saying that officially and strongly refute it. a very interesting development in this company that was a spin off from dupont does titanium chemicals in this story will be sure to have legs going into tomorrow, guys? >> dom, the statement was issued in the after hours session so after the stock recovered? >> the stock didn't recover during the regular session. right now chemours shares spiked in the after hours, maybe 78,000 shares here and the shares are down nine-tenths of 1%. >> it made

andrew left at citron research. >>> coming up live to london. first tesla shares are slumping after offering nearly 3 billion dollars to buy solar city. we'll discuss whether this will officially transform tesla from a car company into an energy one. ♪ i could get used to this. now you can. when you lease the 2016 es 350 for $329 a month for 36 months. see your lexus dealer. they found out who's been who? cking into our network. guess. i don't know, some kids in a basement? you watch too many movies. who? a small business in china. a business? they work nine to five. they take lunch hours. like a job? like a job. we tracked them. how did we do that? we have some new guys defending our network. new guys? well, they're not that new. they've been defending things for a long time. [ digital typewriting ] it's not just security. it's defense. bae systems. >>> tesla shares took a giefive dive today on news elon musk wants tesla to buy solar city. shares of solar city closed about approximate percent higher. -- 3% higher. musk. chairman of tesla, share

>> citron would tell you that a lot of those mckesson sales might not be sales.hat's his position. >> berkshire hathaway. >> it's a real lesson. exxon and walmart both have more revenue but as you pointed out apple is more profitable and more valuable. >> right. >> if you need 10 cents and walmart and exxon needs 60 krenltss to make a buck, buy apple stock instead. that's my nba obvious, you know, class 101. so. >> you're still thinking about the monkey. i know it. brian, you're thinking about the monkey. >> i'm thinking with the monkey poising the dates. it's clear monkeys are trained to do evil. let's get down to seema mody. >> the emerging market's etf, the eem is higher flirting with a one-month high. one of the bright spots is the russian stockmarket gaining momentum after brent did. back to you. >> this is an area they thought this wouldn't happen, especially if you thought the fed was going to raise rates. what do you see with the merging markets? bam. the minute you think this is less likely, this is the natural place go. >> and the suckers who are higher