[laughter] let's talk about gamestop for a moment. [laughter] talk about gamestop for a moment.he headlines a little bit, but it is still up significantly. amc too from the lows, right? they're still four-digit percentage returns. what's going on there? >> i know, and that's the thing that that strikes me. i think a lot of people in january would have said we're not going to be talking about gamestop anymore. it's august, right? but the stock is still at $150 or hovering around there today even though, you know, it may have been sliding recently. the it's had a lot of staying power, a lot more than many initially thought. that's really the big takeaway here. charles: i know the "wall street journal" talks to a whole lot of investors, are you getting the sense they're in it for the long run? this revolution has been phenomenal, i love it, i try my best to encourage it, i want it to be a lifelong endeavor, but there are some reasons, you know, people -- whether the playing field's not level, gary gensler's saying the right things, but e will he do the right things? you know, you c

on deck john najarian is here, he will lay out all the action he has seen in amc, gamestop and otherst are they going to do today, though >>> plus your morning rbi on big tech's big run and while history says we actually might get a pull back yes. history says that. i will tell you why. if you haven't already, follow our podcast it's called ""worldwide exchange"" tailorworldwide exchan" with a hybrid, mayou don't have to choose.o? that's why insurers are going hybrid with ibm. with watson on a hybrid cloud they can use ai to help predict client needs and get the data they need to quickly design coverage for each one. businesses that want personalization and speed are going with a smarter hybrid cloud using the technology and expertise of ibm. nice bumping into you. i'm dad's greatest sandcastle - and greatest memory! but even i'm not as memorable as eating turkey hill chocolate peanut butter cup ice cream with real cocoa. well, that's the way the sandcastle crumbles. you can't beat turkey hill memories. sofi is a one-stop shop for your finances designed to work better together. save,

that happened to gamestop in terms of impact on the platform? wouldn't that just be, like, the quickest spiral drain down ever? if for some reason they had to restrict access to the stock might have to get capital -- i don't know this thing plays out, but certainly not a good thing for the stock itself, and would certainly make the pain felt by retail investors, robinhood might be lending to, deeper. >> yeah. there is another, a whole other level of risk. quick on options 79,000 of the 70 traded today is crazy. also talking game viral robinhood and remember in the past, balance sheet was an issue for sure i would look to take advantage of this move as quickly as i could. i don't know how quick think has could happen, how long to get a convert ready like tesla did many times to great success. looking to do that. >> yeah. bring up a great point a lot of criticisms how investment banks priced a lot of these ipos and the giveaway. stock priced at 38, openeds at 70 not out of the realm of possibility the way a lot of hot ipos traded over the last cou

i think we're sticking with it however much gamestop goes up. >> we'll check back with you on these. good to see you. tim, i'll go to you. long fang short, short fang. long fang, diamond back. >> there were a group of equities over done and the energy trade was part of a structural change in how these companies are run at a time when demand has come back and you have the tail wind companies that are starting to deliver diamond back is a story where they will increase their dip by about 13%. they have committed to paying 50% of free cash flow giving it back they stressed any mna they do has to be free cash flow of freedom. this is unheard of five years ago, ten years ago in the oil space when it was all about growth at all cost we have been talking about demand i think the more important story at some point will be the supply side i think there's a lot more capacity, discipline inside of the oil space and opecs plus and even in the u.s. >>> coming up, we'll have more on the mcommodity crush. we take a look at gold >>> we have pair of earnings on deck amc on the move after reporting. w

certainly a dynamic worth following on the other meme names like i'amc and gamestop would you watch thatlosely >> actually i am new markets tend to slowly build out end of first month, second month, so on and so forth. for a company like robinhood it's still in early days, but that will give us more window into how investor are looking at it if there is significant option activity >> yes rohit, back to my first question do you think robinhood can capitalize on a huge younger user base or does it risk becoming a feeder for other players in the situation whether that's traditional or the big syntec ones? >> so far, robinhood has expanded the market for everybody in the space as in i think in the ipo, an interesting chart. they showed, in the last -- in the first ten years of this venture, all the big houses averaged 4 million users the last five years, 20 million users. half of them have come to robinhood. so robinhood is enabling this expansion. not just for themselves but for everybody, and if you have drawn that straight line out, then they can add more layers to the story, but that's w

i speak more about the other popular stock, gamestop in this world.ave used the craziness, insanity of this calendar year to really help with the overall trajectory of both of these companies. we have amc doing very, very smart things with -- expanding in other avenues showing sports. gamestop, we, i think becoming the amazon of esports sales. i'm bullish on esports. if they can pull that off i applaud them. i like both are getting into crypto. the leadership team both get a round of applause using insanity to better their companies. charles: we've got just less than a minute to go, i want to get you both in. two things though. listen the experts keep calling you dumb and all of these insults even though these stocks are up 2,000% for the year. trey what do you make of that? does it inspire you more? how confident are either of you gary gensler will do more than just lip service? >> you know, these guys can call us dumb all they want, i think ultimately what is important, retail money, simple as it gets is beating so-called geniuses on wall street who

we saw a surge gamestop shares are down, but they rallied 28% on tuesday. so what summer vacation?y average the stock has traded as low as $4.56 to as high as $483 and it's not just gamestop amc surged higher. there's a lot of unusual call option activity for both amc and amg, buying the stock at a specific price there is bullish sentiment volume came in at almost three times its daily average. the single most active stock yesterday and following a trend a number of other stocks across the board, meme stocks like clover health as well as blackberry all trending higher yesterday. since so many of us suffer from the fear of missing out, fomos, the head of gothic management said they missed out on a potential $400 million in gains after sold its entire holdings in gme and amc go of the retail training media took off earlier this year. and why should we all care amc is the largest in the russell. if meme stocks keep rising that could be 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

partnering with gamestop on a number of possible fronts. now, how are those talks going have you sat down or zoomed with ryan colin, the seer of gamestop to get something going >> i think actually use of the word "apes," i look at these millions of individual investors as the, who really -- came on the scene just in the last six months they're the owners of my company. they don't work for me i work for them. they're my bosses. and just like all of the memes respond to shareholders of their companies, we're certainly interested in the suggestions that are flowing to us from the owners of our company. >> so you talked to ryan cohen then >> no. no. >> why not isn't he a neighbor of yours >> what i said yesterday on our earnings call when for the first time ever we took questions rather -- most of the questions on our earnings call dpram our individual shareholder owners rather than professional securities analyst, was that we've gotten a lot of good ideas flowing into the company from our company's owners one of them was that we should partner

. >>> plus gamestop's heavy rally.nd's ceo weighs in on that winning bet for her state. we're back in a couple minutes that's great, carl. but we need something better. that's easily adjustable has no penalties or advisory fee. and we can monitor to see that we're on track. like schwab intelligent income. schwab! introducing schwab intelligent income. a simple, modern way to pay yourself from your portfolio. oh, that's cool... i mean, we don't have that. schwab. a modern approach to wealth management. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. >>> coinbase had a beat on revenue. joining us is early coinbase investor sean williams, along with dan dolan from mizujo rasean, what are the metrics that stood out to you? >> i think eps and revenue are two of the main revenue. it's about take rate, about veri

if you think about gamestop, a lot of that was in the options market. we have some posts on it.you have been scouring the reddit boards. ed: they are regularly siding the robinhood app, but they are reminding us that in some cases they are selling amc and gamestop to buy this. maybe robinhood will ban them to -- a reference to earlier this year when robinhood restricted trading on some of the meme stocks. emily: why did these folks not buy on ipo day? there was not a lot of volatility. ed: there was a lukewarm reception, to say the least. one reason was that restriction, these day traders, reddit warriors, whatever you want to call them, they felt aggravated by what robinhood had done earlier in the year. what institutional investors are saying, this is herd mentality. they are seeing what others are talking about on twitter and other social media and getting in on the act. emily: certainly there are institutional investors as well. what is it in the psyche of these retail traders that is convincing folks to still by now at this price? ed: the fundamentals of the company are not

g gamestop is dropping like stones and flowing into robinhood and i don't want you to be a pig about people and says you need to take something off the table when you have an 80% gain in two days. just half. i'm not saying all half that's also why we peeled off some advance micro devices, a stock we have long championed. the cramer chipmaker fave overnight meme stock what happened here the process of acquiringing xilx you have merger arbitrage funds who short the acquire, amd and buy xilinx because in a stock "for life" stock deal they will convert but there is a problem with that playbook many dislike buying high dollar value stocks like the $144 xilinx because if it breaks down they'll be crushed so now rolling back the position selling xilinx and buying back amd. the meme deeds want to crush the hedge funds doing this which is why they jumped 5% as onceagai they hated shorts, had to scramble to cover because the memesters forced their hands i hope the wall street better, the memesters remember to take something off the table and buy that nice sweater. the gamblers don't have enoug

as you can see by today's action in amc and gamestop that is starting to change.rtain names, they have begun to edge a little bit higher. by the way if you want these short positions to go higher because you want someone to squeeze. the more compelling short names are really starting to do pretty well. i have two names on my radar i want to share with you. sporting goods and ev battery. they are heavily shorted plays not necessarily played by the apes. congratulations. lesson from best buy, companies do learn how to adapt, they learn how to stay alive. they learn how to thrive. of course nothing is guaranteed and these sort of ideas carry higher degree of risk. i say it before and say it again, smart money are not guaranteed always to be right either. what i'm reminded, what really inspires me with the investing apes you guys have taken control of your lives. you want to change your life. i say, find your own way, chart a new path. break the unfair rules. live and learn but never, ever give up on the stock market. we'll be right back. what matt. whether it's ensur

it is reflective of amc and gamestop in terms of how the options effectively moved the stock, if you will, because of what had to happen on the underlying stock itself. >> the other question is can the company take advantage of this is there anything they can do? a convertible debt offering or quickly to capitalize on this? >> the question is how much more money would they like to raise i don't know i'm a little baffled we're going to talk more about this throughout have a number ot who will speak to this and offer insight perspective on maybe what is happening behind the scenes and what should be happening. we will see. >>> meantime, uber shares. talk about going the opposite direction. lower. the company posted earnings of 58 cents a share the beat coming because of an unreal eized gain of didi and t sale of the save driving unit. they spent more on incentives for drivers to come to work. uber affirming it will reach profitability on adjusted basis by the end everof the year. we spoke to the co-founder of lyft they reached that milestone. it adjusted the number we will talk to ceo

today and up the same over the past week amd is down 4% after a 10% rise during the same time and gamestop, higher today but that's down 7% so does it pay to follow the meme trade joining me now is mark smith, senior vice president and portfolio manager at wells fargo advisers and cnbc's bob pisani mark, i don't understand what a meme stock is nymore i thought it was like a depressed name that was heavily shorted and primed for a bounce but, like amd, there's real fundamentals behind that stock so if you own it, and it gets caught up in something like this, do you trim it, sell it, hold onto it what do you do in this market? >> yeah, my clients are asking questions like this all the time, jon. and what i respond to is momentum investing with no underlying fundamentals is inherently gambling. if you are okay with gambling with your hard-earned money, then, yeah, pick up some of these meme stocks that don't have any fundamentals or clients or sure way to profitability if you have a meme stock that has a competitor that's out there that can do exactly the same thing, then maybe you're in for

taking questions about whether he will do a joint venture with gamestop whether they should do merchandising with gorillas on them i don't know where to start. i don't know where to start. >> here is the question for you. if you had to grade adam aron with how he handled his majority shareholder base, retail investors, what grade would that be >> genius. a plus, plus, plus, plus. >> exactly. >> i'm concerned i hop i'm concerned and i know the apes are concerned i'm concerned that adam aron is taking advantage of you, apes. that's what is happening here. i don't see it any other way >> the advantage or incentives are aligned? if both sides want to see the company succeed and survive, the interests are aligned anyhow is that taking advantage of the shareholder base >> hold on one is the other thing mentioned, i think, the idea he may sell shares in the company >> right. >> they may put together programs to set a schedule to sell shares. let's be honest about how aligned everybody ultimately becomes in all of this you know, maybe they're not taking advantage maybe this is all aligned in a colle

there are people that are mentioning gamestop and seem to still be trying to convince other people to not trade. but i think whether they are positive or negative mentions tend to be a good thing for stocks like this or at least for their stock price on a day like today. >> robinhood trading at 70 books. kate rooney, thanks. >>> shares of gm are moving in the opposite direction following earnings this morning. phil lebeau's got that story for us phil >> wilf, it's all about the guidance and it's rare you see a company increase its guidance and yet the stock gets hammered. that's what's happened with general motors here's what's happened their previous guidance in terms of full-year expectations was for earnings of somewhere between $4.50 and $5.25 a share. they said we expect $5.40 to $6.40. the stret was expecting much more the consense sgog today was $7.39 a share and analyst after analyst asked about this today saying, we thought you'd be doing even better in the second half than what your guidance was about. the other story with general motors this stock has moved higher because o

shares of gamestop soared yesterday as some retail investors came back in full force despite an otherwiseuiet market, the stock closing 27% higher with no obvious at list during the trading session it rose as much as 36.5% on heavy volume, more than 14 million shares changed hands, seven times more than a 30-day average. other meme stocks also popped, amc entertainment jumping 20%, clover health climbed nearly 10, bed bath & beyond rose more than 4% much more on the stock moves in just a few minutes you should have seen the twitter. i mean, in the reddit sort of amc -- #amc short squeeze was trending. >> we had a little conversation yesterday 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

on the screen, we'd be talking about other things gamestop would just be on.re is that the reddit army is alive and well if. >> look at what they're doing to amd. i love lisa su, don't get me wrong. she's from queens and when anyone's from queens, i always ask if they're going to go in the mermaid parade. >> the mermaid parade is in coney island. >> brooklyn. >> that's your borough >> amd when you look at the volume, it's 19 million. lisa su's company has been captured by the reddit millions because it's a great company >> it is a great company, but i don't know if that's healthy for your stock price to go to levels that aren't necessarily supported by the fundamentals. >> no, it's not. i got to ask her about that. >> really? you got to ask her about that? >> no one ever says their stock's too high. >> amc is still up there at 17 plus billion. >> do you think robinhood doubles today? >> it certainly -- >> it may have been halted again. >> you know what it feels like >> i know it probably has been >> i haven't seen another halt there. >> it's resorts casino rem

but as we have been talking about in the show this is an unshl market where companies like amc and gamestope become completely detached so taking a look at shopify that is making a very interesting run in the e-commerce space up against amazon and partnerships with google, why not a shopify in this market environment >> certainly amazon's another great competitor just this year they made two acquisitions that are basically building out the elements of an e-commerce platform for sellers to use that amazon doesn't have right now so the ability to offer capital to its merchant selling on the amazon, a complete software package to allow them to sort of better manage their various store fronts and wherever else they sell and this is important and elevates amazon from a software perspective. in this environment, sure, obviously e-commerce is booming throughout the covid pandemic and i think that is sort of stepped forward. we'll see that continue and i would say i get a lot of calls leek this to say why are you so bearish on shopify and actually a little ahead of consensus on revenues for this ye

gamestop, that figure was more like $350 million in january, when meme stocks were just emerging.c, we have seen numbers like $600 million. it does 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. ♪ mat

more than 20% respectively you can see gamestop up more than 30% this morning. other big gainingers, clover health, robinhood and wish the rally is putting a squeeze on short sellers with close to a billion in estimated losses. according to analytics company ortex. bitcoin trading near 50k a street call to hit 420 feels like april all over again. >> confession. i don't care about meme stocks i mean, not sure they are actually memes anymore most of these stocks a lot aren't tech stocks or making a claim to fundamental technology innovation. i mean, people are jumping on them because of hopes, maybe, or popularity, carl, but this is like a side show that's fun. says something about the market moment we're in. i don't know i like to dig in on companies that have real technology possibility, understand trends that are driving an industry, and in this so-called meme stock story, for most of them, that's just not there >> yeah. well, i'm not sure the reddit crowd cares whether or not we think of memes or if it's real. >> right >> getting commentary in general, de, mig

with gamestop there was high short interest that attraction the reddit traders that's not the case. training is part of it what else should we understand >> it's a great question >> those redditers are drawn to the highly shorted stocks. the day traders tried to band together and stick it to the hedge funds. that does not appear to be a factor at least today. after an ipo short selling tends to be muted because of the lack of shares to borrow. it's possible but extensive as well to do so. i talked about this earlier. they say about 10 million shares of robinhood borrowed in order to short right now it seems like a high number. it's not really moving the needle there is a little bit of short side activity. it is not changing the picture today. it's really the long side driving a lot of the volatility that we're seeing with robinhood. >> all right, thank you very much, kate kate rooney reporting trying to untangle the mystery that is robinhood and the meme stocks. so is robinhood the newest meme stock or does this week one rally have staying power rick, you're going to have to explain

my question is about gamestop >> okay. gamestop is a little controversial.they're arachnids, nematodes they like it a lot and good for them that, ladies and gentlemen, is the conclusion of the lightning round. >> the lightning round is sponsored by t.d. ameritrade >>> coming up, hut, hut, hike. make sense of the market machinations in no time flat stick with cramer for a special no huddle next it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪ ready to shine from the inside out? try nature's bounty hair, skin and nails gummies. the number one brand to support beautiful hair, glowing skin, and healthy nail

there's gamestop this is just the last couple hours, accelerating to the highs.hey lily, i need a new wireless plan for my business, but all my employees need something different. oh, we can help with that. okay, imagine this... your mover, rob, he's on the scene and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, asap! so basically i can pick the right plan for each employee... yeah i should've just led with that... with at&t business... you can pick the best plan for each employee and only pay for the features they need. sofi is a one-stop shop for your finances designed to work better together. save, spend, borrow, invest, and earn cash back rewards, all in one app. that's how you get your money right with sofi. that building you're trying to buy, you should ten-x it. ten-x is the world's largest online commercial real estate exchange. and it's fast. if i could, i'd ten-x everything. like our lunch. (laughs) amazing! see it. want it. ten-x it. >>>dom >>>dom chu is zeroing in on this stat >> it only took seven

to sources familiar with block's domino fundi, which launched in february block describes how the gamestopn $70 million he had planned currently he's got about $30 million of commitments through august 6th, domino had returned just shy of 11%. joining us to talk about the fund and so many of the other interesting revelations from that letter on interest rates, elon musk is muddy waters capital founder carson block good morning to you. >> good morning. >> let's go through the letter, because it is, as i said, it's a doozy and you are honest i should say this letter is not necessarily family friendly. there's some language in this letter but let's start with elon musk because he's somebody i know that has frustrated the short sellers for quite some time but it appears that you may have come around on him >> well, actually i know you want to start with elon, andrew, but i just want to talk about the rates because that's what got me to elon. >> okay. >> i woke up last week 3:00 a.m. one morning kind inform a panic because i had this realization that i think in order to decarbonize the economy,

yesterday, let's start with that, gamestop surged 27%.silverback, the king meme guy, saw his company, theater chain amc, spike 20%. clover health spiked the same, and then blackberry saw a 10% gain. look at these names right now. and, by the way, amc started the session today down. it is now higher at the moment 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 of

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

>> yeah, well maybe some of the money was coming out for a while of the gamestop and amcs to fund thed things like that maybe we have to consider that too. all right a quick break. ask halftime coming up next. you ask by video we'll play them on the air what happens when we welcome change? we can make emergency medicine possible at 40,000 feet. instead of burning our past for power, we can harness the energy of the tiny electron. we can create new ways to connect. rethinking how we communicate to be more inclusive than ever. with app, cloud and anywhere workspace solutions, vmware helps companies navigate change. faster. vmware. welcome change. ♪ someone once told me, that i should get used to people staring. so i did. it's okay, you can stare. when you're a two-time gold medalist, it comes with the territory. all the things, all around you... where you learn, work, and fly... we help make them healthier. we are the people of abm. for more than 100 years, we've been a leader in making spaces cleaner, from the things you touch to the air you breathe. today, more than 100,000 of us are

. >> gamestop. >> really? >> yeah. gamestop a lot of appliances -- still can't get.ve. >> it is. >> how much is online, how much in-store, and when it comes to gamestop, we talk about the threat of the digital distribution of video games? right? don't need to go to the store. >> and unique assets including inspiring what is possible of course, across the bread eth of consumer electronics products, ability to keep it working together she has got it the real secret here, people have to fknow this but people don't know this woman spent a fortune building up supply chain if anything would ever go wrong she did it over two years. she saw it coming. who else saw this coming you have sew see around the -- supply chain issues did not bother best buy, because she invested, invested to make it so anything happened she'd get her stuff. that's how you do 20% comp store sales. that's how you do it all right? >> all right you have a stock potentially, at least, opening bell. >> david, get this want to see the future here >> there we go. >> oh! that's the future. you have a magic f

gamestop up 30% since the start of this month. robinhood, however, unable to capture the same momentum. i s.e.c. chair gary gentzler told barons banning payment for revenue flow, it is on the table. shares of hood down 10% in a week below $45, though up about 1.25% today. gentzler told barons that, yes, the spread, marketmakers and robinhood, can make money off the spread, but it is about more than that. it is about the data, right? the data that the marketmakers are collecting here could represent an inherent conflict of interest. >> yeah. just want to note, on support.com, market cap on that now less than a billion dollars. we normally don't talk about companies that small and that's after it had that big run-up so be careful, people. just for fun a lot of times, not for keeps, whether it is a meme stock or the new generation penny stock, whatever. but going back to that robinhood point, julia, i think this goes back to sort of the question that is underlying zoom, as these conditions change that brought some of the companies up

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. >> that's a great name, i don't think there are signs that is spreading it seems like gamestop in amc are the favorite stocks and all the attention has gone to robinhood in the past week. then i mean, what do they mean the idea that everything is come full circle. so robinhood is still debated the meaning craze, it really helps retail investors, now robinhood is the meta- meme idea. jack: month some companies are putting that off what do you think it means does it stretch our recovery up? >> i think it definitely has some uncertainty into the real pretty we have amazon, blackrock and apple pushing their return to work landslide by a month or even to 2022 as you mentioned what that means for the businesses that support workers, the businesses that reliant commuter traffic, recovery is going to take a while to get to the pre-pandemic level it does stretch the reopening but also the longer we have the work environment it's going to exist past the pandemic and be more permanent way of working. >> or cover story is about this move in the office there was some flex work stop pics let's get

gamestop, a high street retailer at the heart of the battle between institutional hedge funds and amateurishnvestors earlier this year, rose as much as 26% for no apparent reason on tuesday. in japan, the government has adopted an interim plan over how to protect local farmers and fishermen, when millions of tons of radioactive water from the fukushima nuclear plant are releasing the sea. the water has been accumulating since the 2011 triple meltdown. it has sparked concern and outrage among locals, as well as china and south korea. we have this report. reporter: the plan to release treated radioacte wasteater from the fukushima nuclear plant is moving forward. the japanese government has already given its support, and operator tepco will continue with cleanup efforts. >> today, the cleanup measures were decided for the water at the nuclear power station. we will move steadily forward with the decommissioning while prioritizing safety. reporter: the treated water will be released in the ocean. it has the support of the international atomic energy agency, but not everybody is happy with the d

he went to the bench and the gamestoped and his teammates all stood up and gave scola a standing ovationso deserves because of the support these athletes need for their family to be able to accomplish what they do. look at that. the mom is doing the biting of the medal >> she deserves it, too. >> that's wonderful. >> so many great stories. >> yeah. >> we are doing well with medal count. we notice

analysts tend to move back they did this with gamestop.w a big research firm, wolfe research saying robinhood was uninvestable they said we cannot in good faith recommend investors get involved in robinhood on the long or short side they are talking about a $45 price, peer performed rating they are concerned about a slowdown in retail trading a lot of people called yesterday and noted robinhood traded 175 million shares that's a lot of shares who was doing the trading? that was the big question. trying to track down i had made a lot of phone calls. i will make some guesses here. it seems to be in the retail trading. most of the desks i talk to estimate retail traders were probably 60% of the volume a large group insisted we needed to pay attention to hedge funds and institutional traders who simply make a living trading high volatility, high momentum stocks and the estimates were all over, somewhere around 25% could be that particular group short covering, fairly small options market makers started trading options yesterday. yes, a factor,

amc, end of the day, pretty much flat gamestop down 5% the days they are lower continue to be a lot lessy definitely have like bled and drifted lower for periods of time when nobody is talking about them if you looked at amc, peaked above 70 let's remember. it did kind of crack from there. you have something like gamestop peaked above 400 seven months ago so it's not as if -- >> i'm referring to one-day moves. bigger on the upside >> they continue to have this residual -- people at the ready to pull the trigger on them. and the stories fly around and we share these kind of elaborate theories of why there should be some short squeeze of this shadow negative -- >> you're in touch with that crowd. >> i'm more in touch with them than i prefer to be. but, no, i mean, every single time we talk about this i say the market does wild stuff all the tomb the market puts money in the wrong place all the time big major blue chip stocks get misvalued by tens of billions of dollars every day in this market so i can't get exercised by a company having a 10 or $20 billion valuation -- there's a lot of en

i think this is much more nuanced conversation that's people using lunch money what happened in gamestoped. we talked about this froth y fr. >> you know, obviously, depending on the client, we're talking about risk tolerant they're having more cash, and they want to spend it, and they're buying, you know, real estate, second homes, interest rates pretty much at all-time lows, but folks are going to continue to buy. to impact the lower stratosphere in this country. so clearly we have the dry -- market smith, victor jones, thanks for the time today. on when he thinking the fed will -- >>> plus peloton cutting the price of the original bike by $400 an analyst says selling the stock now ulbewod like selling apple when it cut the price of the ipod we're back in two minutes. and there you have it— -woah. wireless on the most reliable network nationwide. wow! -big deal! ...we get unlimited for just $30 bucks. sweet, but mine has 5g included. relax people, my wireless is crushing it. that's because you all have xfinity mobile with your internet. it's wireless so good, it keeps one upping itself.

that was emergency funding during the gamestop saga had has a maximum price of $35 per share. based on how early a lot of these venture capital investors get in, it's still a windfall regardless of where they sell. new enterprise associates, and an degreesen and horowitz are part of those investors. there's now some commiserating more about losses if they bought in on the momentum yesterday others are warning about buys in on folo, or fear of missing out. >> just to confirm, this would just be a transaction, not a fund raise for the company. >> robinhood would not see any of those proceeds. these really to the benefit of the early backers of robinhood, especially those who came to the rescue back in january when they did the convertible debt deal. >> thank you, kate down 23% today after a huge surge yesterday. >>> take a look at the dow, the s&p is on record close watch here for the s&p 500 the dow is up 184 points, nasdaq up 0.6%. russell zooming ahead today. >>> up next, amazon and wales fargo are joining a group of companies pushing back their timelines to get employees bac

robinhood restricted trading so many could not sell their shares and gamestop started to fall earlieryear. one analyst said we have seen this movie, the pump and dump, and it does not end well. retail buyers coming late to the party in terms of buying robinhood shares. a lot of the ipo's are earlier in the year that grabbed a lot of attention, like dd, like coinbase, really had huge volume and robinhood has really paled in comparison, but for the volume surge we saw in this latest session, as far as what is behind it, that is a question that is probably going to play out in the days and weeks to follow. a lot of attention now on this new, hot stuff. yvonne: is it herd mentality? are people trading on emotions? let's do a quick check of the latest headlines. singapore's biggest bank is increasing its intra-dividend after reporting second quarter profits that beat estimates. net income rose 37%. the rivals have also lifted payments to shareholders following better-than-expected results. hitachi is an exclusive -- [indiscernible] as it seeks to expand in europe. they say it would add 900

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

host: what did you learn about that with the gamestop issue earlier this year? >> the social media has allowed information to move quickly to very large audiences. we have seen this with some stocks and with cryptocurrencies, this sort of meme driven indexing is kind of an interesting space. but with cryptocurrencies, the important thing to remember in the long run is the value of the currency will be tied to the value of the underlying network. host: thank you for this conversation concerning cryptocurrencies. you can call us and give us your thoughts. republicans, (202) 748-8001. democrats, (202) 748-8000. independent, (202) 748-8002. you can text on (202) 748-8003. a call on the republican line. you are on. caller: good morning. now i have two questions instead of one. first of all, with all these different cryptocurrencies, and the only one i have heard of his bitcoin, do they all start here in the united states or did some resonate in different areas around the world? if so, have those other countries but any regulations in place, and is that part of the pr

dave: it's going back to january will we saw the likes of gamestop and meme stocks with smaller investorsit. people do have long memories. the same time, it's clear there is something more going on. matt: one of the ipo's that fell, we are going to hear from them. i want to quickly point out, we told you moments ago that the new york auto show has been canceled because of the increased spread of the alta variate of covid. this is -- because of the delta variant. this is a big deal for the city into the auto world. there was going to be a lot of firsts in terms of new cars. new york has reported 3001 hundred 15 new virus cases. seven new covid death. the hospitalizations for covid in new york have risen to nine hundred two. the new york auto show will now be canceled. it is not clear whether it will be held virtually or what the deal is going to be. coming up, a correction on the horizon. one thinks investors shouldn't wait for a selloff to position themselves for a coming correction. that's coming up. this is bloomberg. ♪ ♪ amanda: welcome back. citigroup downgraded stocks because of the

gamestop to the moon? tom: taking over the show. have another decaf tea. i did a lot of research. i thought it was a fraternity. this is bloomberg. good morning. ♪ and there you have it— -woah. wireless on the most reliable network nationwide. wow! -big deal! ...we get unlimited for just $30 bucks. sweet, but mine has 5g included. relax people, my wireless is crushing it. that's because you all have xfinity mobile with your internet. it's wireless so good, it keeps one upping itself. switch to xfinity mobile and save hundreds on your wireless bill. plus, save up to $400 when you purchase a new samsung phone or upgrade your existing phone. learn more at your local xfinity store today. so many people are overweight now and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now there's golo. golo helps with insulin resistance, getting rid of sugar cravings, helps control stress and emotional eating and losing weight.