did i lose money on gamestop?t happened will make people more nervous about shorting? in the future? of course it will. no, no, of course. and as for gamestop, well, it's now looking to move its operations digitally. its share price is still incredibly variable. in february, it's been between $40 and $200. casper and matt believe what happened shows what the internet can do through collective action. i think from now on the hedge funds are going to have, in their risk models and prediction models, there's going to be a new line item in there, like, "hey, watch out for this everyone ganging up on us and grouping together scenario." that's never happened before. without the internet, that would be impossible to accomplish that. john's investment was relatively small, but he lost most of it. i don't think any, like, change has come out of this. that's been pretty apparent. i hope people see that, i hope everyone who gets screwed over does see that no—one's coming to bail them out and changes aren't being made to help

let's start with how gamestop is doing. sonali: this is a stock that rose 830% on the year, and now it is taking a dive after hours, down more than 5% on the -- in the last hour's trading, missing analyst estimates on profitability, or the lack thereof. there net loss had widened. people getting burned today. romaine: a lot of moving parts right now with gamestop your let's bring in someone who has been following this company from a fundamentals perspective, and investor in it since 2017, rod alzmann, founder of gmebe.com. what are you looking for out of the company overall with regard to their strategy, with regards to their earnings or the lack thereof? rod: sure, romaine. thank you for having me back on. they lost money but i think we should look at what the company has told us is important. they told us they think net sales is the most important metric if we want to think about their transformation into a more tech oriented company, and they did beat on net sales by 9%, so nice to see that versus analyst consensus. they

it is a tough world for gamestop.eality of the operating environment it had to cope with and what we have seen in terms of the share price feel like they are on different planets. are we now going to see stocks like gamestop reverting to fundamentals if we are seeing this new approach taken i retail traders? -- by retail traders? karl: there's a difference in some of these stocks. the gamestop's of the world, you can call folks who are engaged in those the new market entrants, the way the market behaves. they believe in these stocks for a reason. they have had nothing to do with fundamental valuations. if you look at this on any basis and they are trading at these valuations and market cap, there is something else going on behind the scenes. this is a group of people who see value in gamestop, and amc. it is the same thing and some of the crypto's. that value is ascribed not based on valuation but belief. it is what these people believe these stocks are worth. i think the meme stocks and folks engaged in those are her

requesting documents relating to the trading of gamestop and other meme stocks.stop saying, in farther, we're in the process of producing documents and have been and intend to continue to cooperate fully with the s.e.c. staff. this inquiry is not expected to adseriously impact us. on the ten-minute earnings call, the ceo saying they're exploring new opportunities. no further details a few other details from the report we want to highlight. they increased sales of hardware by 62% year over year. gamestop said it increased its inventory for the quarter to mitigate supply chain issues ittic increased its cash and holding by 217%, holding almost a billion more in cash also, investor interest in this stock, its decline recently, the last five days, actually in the last ten days, so a lot less volatility for gamestop. especially before earnings, especially compared to the last quarter. dom, back over to you. >>> let's trade gamestop now jeff mills, i wonder, there was a case to be made for trading the stock because of a momentum factor at one point. is there a fundamen

, for in a row the rise of the reddit rebels market trend of 2021 the wall street says crowds as gamestop, amc and robinhood got held by diamond hands but what will 2022 bring, will talk trading transfer the new year of the ceo and just a little bit. the electric vehicle revolution dominated by tesla may finally go mainstream as more automakers shifting to high gear ceo of lithium here to give us his easy outlook for the new year. the christmas travel nightmare far from over unfortunately as omicron variant causes massive flight cancellations and delays at the nation's airports. will go live to new york laguardia for an up-to-the-minute look at the situation. i feel so bad for those folks. i'm lauren simonetti and for liz claman. we'll take a look at the shares of the airline and other travel related companies getting slammed is weather related problems for the flight cancellations and rising omicron cases trigger fear of tougher restrictions. overshadowing that today is a really strong retail sales report underscoring the u.s. economy, mastercard reports retail sales rose 8.5% during the

welcome to both of you frank, gamestop.ly, analysts have the consensus that it will lose 50 cents a share. he says a loss of 40 cents a share but it doesn't matter. only thing that matters is ceo ryan cohans transformation strategy and he feels very unlikely and another thing to watch. a lot of people on reddit talking about diamond hands with the stock. video game sales are spiking this holiday season. up big in early shopping six times over holiday shopping. those people will have cash in hand and really buy an xbox and buy a ps5 from a gamestop and help this company out or more on being on reddit and fight the short sellers? that's the real question when it comes to this stock. one thing that people haven't covered is that gamestop took out an asset-based loan of $5 million. what is their plan to pay back that money if they can't pay it back, they'll lose the physical assets whether it's stores or video game controllers >> interesting so, delano, how long will people keep the diamond hands on this stock and hold the shar

gamestop is worth 10 million is best buy worth 2 1/2 times gamestop or five times gamestop. >> or isamestop only worth 1/20th of best buy >> what they haven't attacked me for is when i gamble to the 11th grade and they caught everybody but me >> yeah. >> we were all playing -- >> there's no statute of limitations on that. >> actually, there is. that's why i mention it. i think, david, that we're at this moment where you have to take some pain you can say i'm going to own block through this, and that's fine but you have to take pain. >> the forecast calls for pain speaking of the forecast, i do want to get to james gorman, somebody we've -- >> i like him. i like him he's changed >> mr. frost, that is wilfred frost visited -- >> i thought you said mr. froth. >> no. this is what gorman had to say about the fed rates. >> at the moment at zero interest rates, we have no ammunition ten rate increases from normal if i were the fed, i would start moving earlier rather than later, store away some ammunition and accept the reality. this is before we even get to the inflation discussion we'll s

i think we are going to get another gamestop, amc meme/yolo situation.ict which stock, but we tracked that very closely, looking at these calls and put demand levels. i thing it is going to be very correlated to what we see happen with the cryptocurrency path this coming year, especially with regulatory items coming down the line. matt: what do you look back at to help you predict 2022? do you compare the covid pandemic to the global financial crisis to the internet bubble? how do you gather the experience necessary to look forward? amy: that is a big part of it. we look at seasonality changes both through realized and implied volatility levels, back as far as we can go, even to 1987. one of the really interesting facts is during the pandemic, we had volatility levels that actually surpassed 1987, as well as the other crises you mentioned. the fact that we come down to pre-pandemic levels within the last two years compared to all the other situations tells you how resilient the market has been overall, and how that has led down into the volatility market

as we know, there was a lot of crazy trading in gamestop. tell, the company did not do anything untoward whatsoever. now the sec has to investigate where you have a stock that went up all the way and now it's down to 160, 170. but i don't really think that the company did anything wrong i want to be very clear about that >> got you do you expect anything of substance today on the call from ryan cohen they don't do q&a. and what i think this is his fourth earnings call since he joined the board do you expect anything >> based on what i saw in this press release, i do not. if i recall their last quarterly earnings call lasted, you know, less than ten minutes. they didn't take any questions and basedon the fact that, lik i said, this press release was six bullet points, i'm not really sure we should be expecting much more. quite frankly, shareholders deserve a lot more but at the end of the day they can always vote with their wallets and sell the stock >> anthony, i appreciate you jumping on with us we we'll see you again soon >> thank you >> d

the december declines in amc, gamestop and robinhood, have shoved these names to new lows.d their chest with diamond hands again or is meme stock mania bubble finally about to burst with the closing bell ringing in 18 minutes we're going to take you inside the cage and show you what's going on with the pricing, next. we've been waiting all year to come together. ♪♪ happy holidays from lexus. get $1500 lease cash toward a 2022 rx 350. ♪♪ appia rare earths & uranium corp. is actively exploring a get $1500 lease cash toward a 2022 rx 350. world class critical, rare earth element project in canada. appia's high grade discoveries are essential for the rapidly growing electric vehicle and renewable energy markets. appia rare earths & uranium corp. my daughter has type 2 diabetes and lately i've seen this change in her. once-weekly trulicity is proven to help lower a1c. it lowers blood sugar from the first dose. and you could lose up to ten pounds. trulicity is for type 2 diabetes. it isn't for people with type 1 diabetes. it's not approved for use in children. don't take trulicit

to recap, number five was gamestop there we go. love the sound effect.w jones industrial average number three, apple. number two, tesla. number one only two of our viewers on twitter have guessed it correctly the ten-year treasury note the most surged ticker on cnbc.com it doesn't come as a huge surprise to those of us that had to read out. it's surprising. i don't mean that to be an anti- anti-climax. every time i read it out, it surprises me because it's the most boring in the world only two years probably more boring because it moves less it's very important, sarah why do people have to search it? it doesn't move that much. >> it's underpinning all these things you're talk about like meme stocks and tesla and apple and everything the story with treasuries was really interesting we saw yields jump by the most since 2013 we had this great bontd bull market >> there's 8,000 stocks out there to beating against each ot other. i'm going to track those five tickers and say what if you bought 20% in eempach one of th. a happy and healthy new year to you, mike

i posited that maybe they spent their stimis on gamestop. what are your expectations about the size of retail investors right now? steve: the individual investors i think, for the most part, if you have not been engaging in a true gambling mentality, you are doing great. you still have to think the average person has not necessarily gone crazy with crypto or gamestop, or amc, the memes, or whatever, you are doing wonderfully. a certain amount have been bit hard because they have been a bit out over their skis, but most are finding their assets are up, as long as they were investing as opposed to outright chasing the next hot trend. that is a good thing, generationally. matt: if you bought gamestop one year ago or bitcoin one year ago, you are in the money big time. as long as they held onto it, they are super rich. steve: absolutely. the question i have is who bought in, when. the problem is, gamestop had its moment at the end of january, early february. we are talking almost one year ago. there were a lot of people came in on the back of th

romaine: are these the amc people or gamestop people? >> the amc people, i believe.oming back to the rally for a second, those shares are up. you have the likes of gamestop, and that stock. romaine: this is in the moment reporting. greg, are you still there? greg: i'm still here. my son got his first part-time job, movie theater. he said it was insane last night, all about spider-man. romaine: a great job for a kid. all the popcorn and candy. greg: he has to pick up the popcorn and candy. i'm greg pennell. this is bloomberg. ♪ romaine: if the trial is successful, they will approach the u.s. fda for an for that age group in the first half of 2020. the vaccine partners amended their clinical trial after it was discovered the regimen did not prompt a strong immune response in young children. a previous covid-19 recovery provides little shield against infection with the omicron variant. that is according to a large study from imperial college london. having a had a had covid only offers about 19% protection against omicron. the study underlines the importance of booster

so amc entertainment and gamestop one to watch here meme stocks a focus.oting after a big decline from recent highs. back over to you guys. >> thery are still a lot higher than at the beginning of the year after the break, we sit down with ceo's of vox and group nine "techcheck" is back in just a moment it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire (inspiring music) - [narrator] at souther

shery: su keenan there with the latest on gamestop.ought -- vonnie quinn has our first run -- first word headlines. vonnie: two shots may not be sufficient to protect against omicron. a third dose boost antibodies that fight new strains 25 fold. the new vaccine that targets omicron should be ready by march. >> basically, three doses of the fire -- pfizer biotech vaccine would provide the same protection for over -- omicron. >> boris johnson curbing the spread of the omicron variant. these advising people to work from home if they can. mandating the use of vaccine passports in large venues. he rolled out making coronavirus vaccinations mandatory but warned that a national conversation may be needed to avoid restrictions in the future. >> we don't know omicron's severity, its rate of transmission, nor the full effectiveness of our vaccines against it. since i last spoke to you, it has but -- become increasingly clear that omicron is growing much faster than the previous delta variant and it is spreading rapidly all around the world. vonn

we were not involved in gamestop or amc on the long or the short end for that matter.ly look at names and, you know, own them on their fundamentals and for us, nothing changed in some of these names from the fundamental perspective. so the moves obviously didn't make sense to us and we were not part of the rotation that you saw on these names >> i hope even if there is not enough gamestop, if there is never another amc guy, but all these people who started in the markets stay in the markets, that would be something. that would be the legacy >> without question. and most of them will stay and we've said this dozens of times on the show. a lot of these people know mor about convexity and negative gamma than the people paid to do it respectfully, melvin capital probably got what they deserved in terms of the structure of the trade and people figured it out. i'm all for that, by the way it's a darwinism type of situation here so, good for that crowd. and maybe if melvin capital were named like achilles capital, they might have been impervious to this unless they got shot i

gamestop down 3.5% amc down 6%.on that big day yesterday on the pfizer acquisition news. the rest of the top-ten, becky, on my twitter feed back over to you >> dom, real chquick, i was goig to ask you about amc before you brought that up, and others, wow. one month ago, amc, you know, 45 21 today you know what i was doing a month ago? gamestop -- a week ago -- no a month ago, 2.50, less than a month ago, 1:30 today. >> it seems like not that long ago, but it was almost a year ago, right, when we were talking about the robin hood phenomenon, the meme stock frenzy, january, february of this year, right i was looking at a full-one year chart of amc, it's pretty crazy just the kind of ride we've seen over the past year with that stock. >> are they cheap? are they cheap >> i have no idea -- >> would you say either one is finished going down? >> i mean, look at that, 60 bucks going down >> i know. i'm not ready to say, okay, this is the bottom. >> no, i've heard too many stories about falling knives and cutting fingers, t

gamestop, 240 to 140 in a month for gamestop amc, bed bath and beyond express all notably down today.bond market yields are lower across the board with the ten-year, right down here, it is below 1.43% one month ago we were up at 1762 this is all coming ahead of the fed's meeting this week where, if anything markets are expecting them to be hawkish but the rate complex shrugging that off oil in the red as well pippa stevens has more. >> oil prices dipping negative as the market weighs omicron against projections for a jump in production next year. analysts are raising their demand, from for the first quarter of 2022. wti is ending the day at $71.17 for a loss of .7%. present crude is down 1.2% at $74.26 both contracts registered a gain last week snapping six straight weeks of decline u.s. oil is still about 16% below its october high turning to nat gas, prices are down 3.6% today, but over in the uk, they rose 11% to a record level as lower temperatures and political head winds over supply from russia fuel shortage concerns. >> exactly the dichotomy toby rice from eqt was talking about

but anyway, in the dow rise and fall of gamestop thursday we have some cramer faves that i think will be able to handle the appreciate a pair of charitable trust names. i discussed about whether to sell boradcom today because it is a lot but it is a technology company and although it is a chick maker that has been consistent and pays a about dividend as for costco, it has seen it get hit after big runs you have to treat that as a buying opportunity and i'll give you much more on that later so stick around you want tried and true. how about hormel we're talking about, yes, spam with a 2.4% yield. this is the limited edition pumpkin spice which is a little out of season but it is as good as ever and will be 24 years ago just like it was 24 years from now and it is down big from its highs. even moves with the portfolio. not that much like spam, lululemon, they report and i think that is going to give you a fantastic set of numbers i also want to hear from chewy too, the pet retailer has seen stock get cut in half. i posted some chewy toys recently it is a called a bear market, people dig

nearly 2,000% so far this year. >> reporter: this wasn't due to gamestop's value as business.he redditers drove up prices to score profits and hurt establishment investors who bet against struggling companies. a populist uprising armed with no-fee brokerage accounts. then robinhood crashed the party. >> they announced trading restrictions. it cited recent volatility. gamestop trades are now blocked. >> reporter: that infuhr rated traders, and robinhood's ceo later apologized before congress. >> i'm sorry for what happened, but what i commit to is making sure that we improve. >> reporter: a space tourism boom. >> the new space race, the bat offensively the billionaires. >> reporter: the modern space race is not between countries but ultra rich men. richard branson, jeff bezos, elon musk all funneled their immense wealth into space travel and innovation. and this year branson's and bezos' rivalry took center stage. >> yay! >> reporter: branson took flight on july 11th. >> the first person to ride into space aboard a rocket he helped fund. >> reporter: edging out bezos by nine da

lastly, we have gamestop coming our way tonight.e are, i think, getting somewhat tired of the hold here. their patience is wearing thin if it's a great report, yes. i think gamestop can go to the upside about 62% of what is traded is calls versus puts. but a lot of folks that just keep saying today is the day, today is the day on twitter, on reddit if and if today is not the day that some announcement or something gets made, scott, i think some of those people might decide to take what they've got and go home. >> we'll see we'll see after the bell when gamestop reports thank you. >>> coming up a landmark hearing into the future of crypto currencies ceos testifying on the hill, including the ceo of coinbase. the very latest headlines and discuss what is at stake for crypto investors like you, next. reducing our carbon emissions to net zero may be our biggest challenge yet. there's no single action that will lead us to carbon neutrality. but there is a single source of essential sustainability intelligence. s&p global sustainable1. un

, novo cure and c3pi gaim gamestop has been so volatile many pulled coverage for the full list of the can get them at cnbc pro >>> the street is asking where is the pricing power one analyst thinks he has the answer and it lies with franchisees. he will be along to vegi us his top pick for 2022. ♪ >>> all right. welcome back restaurant stocks faced a triple threat this year between rising costs, labor shortages and the pandemic you might have heard about. kate rogers joining us with a look at the names the street is betting on though in 2022 and why. what is the street seeing will be the hot places to eat and invest next year, kaelt? >> hey, ryan after learning how to manage in an ongoing pandemic, the restaurant industry as we know is still continuing to face challenges due to the omicron variant spreading. analysts are looking to names that can perform well in open and more restricted and closed environments and, more importantly, have pricing power and flexibility as inflation continues to weigh on this sector the top pick for 2022 is starbucks. he says investors should own names t

amc and gamestop down sharply. 59 minutes left to go in the session. court?> it's going to be a big show, jon. in a moment an exclusive interview. wilfred will join us with ceo games gorman we don't hear from him that often. >> bob pisani is tracking the moves at the new york stock exchange josh lipton at the nasdaq. bob, what are you looking at >> jon, again we are dependent on omicron headlines and take a look at the dow decliners all cyclical stocks dependent on the economy. see weakness in financials like american express and goldman sachs and a spattering of consumer names disney affected by omicron headlines. energy is a proxy for global travel essentially and growth. oil down a bit today chevron and the dow down in terms of new highs, we have several new highs in the dow it's defensive names like pfizer and united health. coca-cola and mcdonald's at new highs but these are smaller parts of the overall economy a group that's really struggled is travel names. they were clobbered in november. on delta concerns went straight down in november and clobbered

gamestop reporting its losses widened in the fiscal third quarter.om a loss of 18.8 million or 29 cents per share a year earlier it was fined for using market dominance, regulators said they had harm in the ecommerce logistics service including they leveraged to encourage sellers on amazon fulfillment by amazon. amazon plans to appeal that. we will be repealing on a major milestone, apple hit a $3 trillion valuation if it reaches $182.86. check on the shares, we're at 134. lawmakers urging instagram to better protect children. the company saying it is a positive force in young people's lives. we will debate the company's xoils policies and if it is keeping people safe. "squawk box" is back right after this this >>lad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones . >>> instagram top executive adam mosseri testified before the senate yesterday calling for the creation of an industry group to develop a plan to protect youth online instagram announced new safety features, questions r

gamestop earnings were out last night. they were a loss. shares down 5% in the premarket.u are looking for any sort of strategy update, you do not get it. it was a one page earnings release, six billet points and a conference call in which the executives took no questions. rh, big furniture. this is a fundamental story. it has done well, up 11% in the premarket. jonathan: they cost some serious cash. romaine bostick coming up a little bit later at the close this afternoon on bloomberg television. gamestop up 821.71% this year. what a move. lisa: but it didn't really show the earnings for it. this is the issue. at what point does the rubbermaid the road and they actually take that step gain and do something that -- at stock gain and do some thing that can make it sustainable? jonathan: we are 25 hours away from cpi in america. joining us now is target chaudhry -- is gargi chauduri, head of investment at blackrock. how do you expect to respond to it? gargi: very exciting days for those of us who look at inflation markets, which is everyone these days. i think we are probably

all that said, gamestop is we're trying to figure out what g gamestop's going to be >> waiting for gadeau basically waiting for ryan c cohen. it's been a long time. it's still a $13 billion market value when any number of analysts would say it's worth a whole loss less. >> and they do mention a risk there could be insidereling and if you notice that's not new but you notice when amc peaked was when the adam family sold stock. gamestop's beloved so the question is can balls stay in the air until something happens. >> by the way, amazing tweet i don't know if you saw. he mentioned that this yaear am stock had the seventh highest number of google searches in the united states. >> he said no to nfts. went from 80% institutional ownership of the stock and went to 20% embraced the shareholders at i level. this is not warren i've never confused berkshire hathaway with amc. >> speaking of berkshire here at the opening bell cnbc realtime exchange, new bank celebrating at the nasdaq and a developer o infrastructure information software we'll talk to the correctio ceo and everybody's waiting to see

the social media platform known for its message boards that was a go-to spot during the gamestop frenzythis year is seeking market evaluation of more than $15 billion. reddit, who was founded in 2005 had roughly 52 million daily active users and more than 100,000 communities or subreddits as of last year. i was checking a couple of comments on a subreddit about the ipo. one said, hey, do redditors get shares? and one said it's probably overpriced. >>> the promise san francisco mayor london breed is making as she pushes to keep the city streets safe. and the action on the plan from residents. >>> we have our storm ranger radar watching our storm moving out of the bay area. but a very soggy seven day but a very soggy seven day forecast ahead. shut it down. just remember. you're not a bad mom. you just need better internet. at&t fiber delivers faster upload speeds for more reliable video calls. get at&t fiber, plans starting at $35 a month for a year. limited availability in select areas. call 1.877.only.att. ray loves vacations. but his diabetes never seemed to take one. everything felt l

, amc and the rest for us. >> let's start with the grand daddy that's gamestop falling 8% today as theyok at amc falling hard the amc apes, many say they maintain the diamonds hands. holding a stock despite ups and downs. an analyst said it made the reddit traders taking losses and now many of those traders use the gains from blackberry to set off losses 2349 tech investment other meme stocks with tremendous gains in 2021 kenansan they're buying diamonds. as they see omicron concerns hit the market back over to you. >> wow i don't think you can ever go wrong with diamonds. >> a good thing. a good thing i'm very -- we had a thing earlier this hour, cathie wood's ark investment funds, shows how hard it is to repeat gains over and over through different market cycles. damn near impossible not many do it. >> tesla down sharply. >> folks, that will do it for another week went by fast thank you. >> thank you. >> there's ark innovation down today. thank you for watching "power lunch." >> "closing bell" starts right now. ♪ >>> welcome to "closing bell." i'm wilfred frost at the new york stock e

that didn't hold true for gamestop and started to see more sellers in gamestop and i thought was interesting we see clients nibble at that one and interested to see what happens to that stock over a few weeks with a rougher day this morning and then nvidia and amd. continued through last week. that's been a stock the clients are on for a while and seem to like the action in that stock and again one that a lot of people sort of over the last few months put the money in the portfolio on. >> over the last month and the week were the clients overall net buyers or sellers of u.s. equities >> buyers. more so over last month with a higher exposure to the market than in the past last week they were buyers but it took until friday when clients started to buy a little be the more. i think they were nervous in the beak as mike got done talking about some of these volatility swings heading into the end of the year i think people were more nervous coming off november. >> are they buying into the weakness in tesla? >> it is interesting tesla sub 1,000. our clients start to buy we saw buyers this morning s

liz: listen, gamestop fluctuates charlie: they all fluctuate. it's losing money, right?he fate of fcc nominee gigi sonh remains to be determined after a recent vote moving her nomination until next year and while congressional division was thought to be the main factor in what appears to be imploding nomination, it looks like big media might actually be -- charlie: so who is big media? abc, owned by -- liz: they don't like her? charlie: cbs, owned by view o come cbs, nbc owned by comcast, you can throw us in there, why don't we like all these people dislike, someone like gigi sohn? it involves two major issues. copyright clauses and re transmission fees. she's against both of them. she's against strict interpretation of those. she wants, she thinks it's bad for the consumer. therefore, she got on the bad side of big media and they let schumer & company know and hence you have a real problem in the democratic party right now. progressives love her, for those reasons, because these issues cost essentially consumer s more. if you have to pay re transmission fees guess what?

had the capital to go invest in supply that's one kind of story on the other hand, you have amc, gamestopices far away from the fundamentals do you see a difference there? >> oh, yeah, and i think that's what's going to sort out which companies actually make it through. peloton, "sex and the city" response clap ad aside and whatever other pr things and issues they've been having >> that's ryan reynolds. >> i think ryan reynolds might have missed that one amazon, there's a famous story the stock dropped 90%. bezos was even tweeting this a few weeks ago and then they came back amazon showed us that even's 90% stock drop can live completely outside of the actual company itself it happens in the market, but the company itself was solid and i do think the key distinction here is peloton and i think it's around 4x sales right now. that's a reasonable company and if that up and down stock price roller coaster never happened, they could actually be in a pretty good position and they just quadrupled revenue and everything would be looking rosy and everything feels like it's in turmoil and i agree,

you also need to have a gamestop pro membership, which costs under $10 a year.typically retails for 700 to $800, depending on what is inside. the cost of beef is surging. according to the bureau of labor statistics, beef and veal prices increased 20% from october 2020 to october 2021. they say the issue is a lack of processing facilities. that should change the next years as more facilities open up, which will allow more beef products to get processed. the second most valuable u.s. car company behind -- reggie: to be honest, i am noe o sure what is happening right now. we had a power hit in our studio and other places, so we are recovering from that. right now, maybe we can take a live look at the new york stock exchange? maybe not. kumasi: about meta? reggie: there is. well, things are not going well on wall street, down 456 points. kumasi: facebook's parent company, meta, is a facebook and instagram users that they have been spied on, so now they have and seven companies that are considered surveillance for hire, including one company hired by harvey weinstein

it is on full display with amc, gamestop and others. what do you think is going on here?ajor things going on. first of all with amc, the past two or three weeks the short interest is rising, which is more supply. obviously with more supply the price is going to go down. amc has just under 20% short interest. gme has 16% short interest. on the other side of it, i think big entities, whales, big institutions, hedge funds are kind of reacting to what we're seeing in the overall market. i was listening to your previous segment and inflation is extreme right now. i think everyone is waiting for the fed result tomorrow. i wouldn't be that surprised, i don't think it is implausible if some big players are pivoting out of high-risk equity classes or amc, gme, would be considered a high-risk equity class. charles: i've done a number of stories on this show using my own experience of really buying and holding and i always make the point, a lot of names that i made big money on were against me, sometimes for years. so the point for me it is a lot harder than simply posting tweets. s

for the month gamestop and amc are down about 30% so far in the month of december.mong the best performing stocks on the s&p 500 at this hour, well, i guess it kind of makes sense, it is the vaccine manufacturers. we have moderna up about 6% or more, and pfizer up nearly 5%. kelly, back to you >> seema, thank you. >>> now, the big event this week is, of course, the fed meeting not just because it is the fed meeting but because this time they're possibly expected to announce a faster taper. it starts tomorrow with. the big decision is out on wednesday. the key question is whether they will speed that up, hint at any more rate hikes. markets are starting to price a hawkish fed in steve liesman here with what to expect steve. >> kelly, the market is expecting a faster taper and faster rise to rate. the question is whether the fed -- in a preview of tomorrow's cnbc fed survey, which is coming out shortly, it will come out tomorrow, we asked people if the fed will have to slow down the economy. 48% said no, but 45% said, indeed, yes, they will, with 7% unsure what we fin

gamestop shares off the session highs but still up 3.5% and amc entertainment about 3.75%.ut, again, kelly, 13%, 14% downside yesterday, they're both well off the highs from the meme frenzies earlier this year we will see whether it plays to the downside or if they hold a little over here back to you. >> thank you very much, dom. >>> it wasn't 10%. it wasn't 10%. markets were braced for ppi to hit that rating on a yearly basis in today's report, but instead it came in only at 9.6%. only still the highest on record. the response in bond yields, the ten-year edged higher but the bigger response as dom was showing us really in the nasdaq today, down 2% it is down about 7% from the late november highs. my next guest says buckle up, markets will be choppy for a while. jason brady, welcome how choppy >> well, look, we'll see tomorrow a little bit, right the fed tapers faster than the market currently expenses and you continue to get some flattening in the yield curve, a lot of the market leadership we have seen over the course of the last year or so has much more shaky foundation

gamestop up 8% on that note, amc spiking 20% today.e will hit the stock in "rapid fire" but a big comeback in this name market still on pace to end the week lower it is highly concentrated in technology names like microsoft on pace for the worst week since october of 2020 microsoft down 6%. adobe down 15% this week nvidia lower by 7% ty, back to you. >> seema, see you shortly. thanks very much >>> to fed governor chris waller speaking at an event in new york steve liesman joins us with the headlines. hey, steve >> good afternoon, tyler fed governor chris waller saying inflation is alarmingly high, persistent and has broadened some hawkish comments from the newest fed governor. he says an increase in the funds rate will be warranted shortly after asset purchases end. they end in february, early march. it does open the way from his opinion for a march rate hike. the omicron variant is a big uncertainty in the fed outlook, could go either way, more inflationary or more declines in demand he still expects inflation to moderate next year bu

on tuesday it's not fundamentals, it's momentum the trading action proved it's not fundamentals g gamestops what it is. maybe a momentum spark fine, i can get on board with that and not a fundamental justification with the long-term. >> all right, time for the final trade around the horn. grasso >> wishing our guy adami a happy birthday tomorrow. god bless you, guy, happy birthday and final trade is west rock wrk. trade not worked but i'm still in it and i think you'll see a bright future ahead. >> second time in the decades. >> novo nordisk. nothing to do with demand, but enter 107 and happy birthday, guy. >> jack? >> lulu, good entry point here. >> guy, 30 in the early '90s, for perspective, target, i'll be there this weekend >> i'm sure you will happy birthday to the og options action is up next. [crowd cheering] how's sanchez looking? with your qb's increased spin rate, any pass with a launch angle of at least 43 degrees puts sanchez in the endzone. you a data analyst or something? an investor in invesco qqq. a fund that gives you access to nasdaq-100 innovations like ai statistical an

alyx: i'm looking forward to gamestop. guy: i'm curious to see what's going to happen there. piling back into the stock story, i want to know if that's going to be a catalyst. we will continue on bloomberg television and radio after this. this is bloomberg. ♪ >> from the world politics to the world of business, this is "balance of power" with david westin. ♪ david: from bloomberg world headquarters in new york to our television and radio audiences worldwide, welcome to "balance of power." president biden is still holding that video conference call with russian president vladimir putin. we turn now to our white house correspondent josh wingrove. we don't have a read out yet of what came out of it, but going into it, what were we expecting? josh: we expect president biden to layout consequences if putin proceeds with incursion or invasion of ukraine. wheezing that would include knowing sanctions between the eu and u.s., in particular targeting russian banks and foreign currency exchange, may be stopping short of other more severe measures like trying to freeze russia out of the

look at gamestop, we're back up 8% now, reversing those earlier losses.bought last week on the discount. gamestop was trading at 250 but reported wider losses than anticipated. they are losing more money changing the business. that is why the stock is down. stuart: can you get dip buying in big tech because i'm getting clobbered by microsoft and the qs? susan: you have done well last two years, it is okay to lose one to 2% out of stu's portfolio. you will live. stuart: whatever you say, susan. we'll see you next hour. susan: okay. stuart: get me some dip buying. see what you can do. >>> what else we got? new york city's new vaccine mandate for children, ages five to 11. that vaccine mandate is now in effect. date lee miller is in the city. fell it out. what does it mean for kids in restaurants, for example. reporter: doesn't matter if they're naughty or nice. as you point out starting today kids in new york city between the ages you have five and 11 have to being vaccinated to eat in a restaurant, go to a theater or take part in any indoor activity. many

mel, i don't know if you saw some of those amc, the gamestop, they got absolutely creamed here today.f the stocks, they haven't been through a correction just yet, and that could really weigh on their assets under manage. so i think this thing need to probably have a capitulation, and then i would at some point though -- >> i wood robinhood, and i think they have the capitulation you can't tell me this stock hasn't been taken down hard. i think you have a case here, cathie talks about the digital wallet dynamic, how about how sticky it is, how popular it is, and i think, yes, the amc/reddit crowd is often seen as robinhood crowd, and obvious they're not distinguishable. sometimes they shouldn't be. i think this is an i was testing my wood on the way in. some bucks higher, and although, again, limited down side. >> testing your would? you mean robinhood >> i just said -- you tell me, mel. i've just said i would, so i was testing my would >> i'm going to move on. cath wreck wood say it's going to so wood or wood you not buy this one >> i think this is a data play this is obviously in so

don't you love -- gamestop, insiders might sell in. >> yes. >> there's a risk factor yes, there couldo made fortunes, even though the company's earnings are no good. it's now going to get hit by those people anymore unless i have a picture of my spaghetti sauce, i'm a dead man. >>> let's talk dollar tree, if we can it's one of the more interesting fights going on. you may remember him from -- >> they wanted to clean -- get rid of the board >> on friday they nominated 11 directors to take over the board? this is -- >> are you kidding me? >>> raised outside capital, he's a well-regarded guy, i calmed him, by the way. he wouldn't call me back he had a representative call me back i'm really not interested. >> he's been around for a while. >> it's just a phone call. we can even talk on -- anyhow -- >> that means obviously -- >> they offered dreyling, who he's associated with, who knows the company well. >> dollar tree is trying very hard they bought family dollars. >> they're not really represented. >> okay. >> i'm just saying that dollar tree, can we just accept the fact that 50% of their

matt: with all that cash out there, with investors bidding up gamestop, bitcoin trading at $70,000, sheboo is a thing -- shina ibu is a thing. my mother is talking about nft's. a lot of things are frothy in this market. are we seeing the same thing for m&a? anu: i wouldn't draw that comparison. you are describing more trends affecting the retail market. whereas what you are seeing in the m&a market is a lot more driven by private company activity. the first year that more than 50% of the market has come from private companies. public company boards being a lot more strategic, growth oriented, and management teams having the need to innovate and use technology, faster than anything they have done in the past. it has been less about ephemeral things about the stock is up or not. that level of volatility is not good for the m&a market because you are looking to price assets. you want a little bit more consistency. what has been good about the equity capital markets this year is while valuation levels have been high, not every company has been treating high. even the market has differentiat

and gamestop shares falling in extended trading.ompany, widely regarded as the first meme stock, reported a third-quarter loss. investors are concerned about how the struggling retailer intends to reshape its operations and lure gamers back. this is bloomberg. ♪ emily: former tech executive meg whitman has a new role, and not in the corporate world. the former ceo of ebay's president biden's picked as u.s. ambassador to kenya. until earlier this year, she was chief executive of the media content app quibi. she also ran for governor of california. planet labs is now a spac. the company provides a daily data insights to the likes of google but also scientists, ngos, and farmers. where is a company headed next? ceo will marshall joins us from new york. a big for you. talk to us about what this milestone means in terms of where and how you plan to invest? will: absolutely. this is a super exciting day, listing after 10 years of really hard work by our team. we set out with an audacious goal of imaging the whole world, and we achieved th

the market has been very self corrective the area that's been bombed out is gamestop, you know, amc,is plenty of things in the market that look cheap haired hanley will follow me on the show, i have an interest what he has to say i came into a big energy position one of my biggest positions, i looked at paramourn mont in canada, gaining $8 per share in stock flow the stock is $20 an change they have $4 a share and nine other energy assets. they tripped the dividend to a yield of 3.3%. they make money in oil at $35 a barrel i don't want to own car, i have to own net i have a lot of energy stocks. the supply demand for energy is favorable. i am very negative on fixed income ironically, the largest position is a fixed income. a no brainer it's very complex. we can't discuss this. i'm finding plenty of things to do you know i mentioned paramont, i would mention a theme, eight times earnings, cigna ten times other earnings i think overall we're borrowing from the future. we're pulling demand forward and fiscal monetary policies will get us in trouble. i'm not potentially paid to the dret

loss and received a subpoena from the sec in august part of an investigation into trading activity gamestopup over 700% since start of the year, thanks to main stock frenzy. total revenue grew to $1.3 billion from a billion dollars a year earlier perhaps most noteworthy about results, how normal it was a traditional earnings call. they talk about fundamentals of the business and don't take questions. unlike calls from tesla or other companies that embrace their new status, turn it into a spectacle which we love to watch but can be hard for investors to sift through. >> yeah, not as vocal as adam aaron on twitter the flagship fund is up this week underperforming in the nasdaq and s&p. wood was on squawk and asked about the valuations of types of companies she's investing in now. >> we assume massive multiple compression, down to fang like multiples in five years in the five year projection we are assuming multiple contraction just to be conservative do we think that the stocks in our portfolio, companies underlying them are as mature as the faangs in five years no we're just being conservati

it wasn't too long ago when he saw the likes of amc in gamestop shake the markets altogether. coming after they reached 50 million daily users in february alone. so not only since that mark at volatility event earlier this year, but there's daily users have continued to climb. let's talk about ipo's broadly because we just got another headline that tpg is filing for an ipo as well to list the stock on the nasdaq. if you look at how those recent ipos are performing compared to the s&p 500, they haven't been performing very well. those used to be all the rage when it comes to market bids earlier this year. the reason for why they might be coming to the market instead, the likes of bumble or rivian, they are potential he getting ahead of the market ahead of potential rate hikes, and that is going to be a key piece of the equation as we going to 2022. we heard yesterday the federal reserve pricing in three hikes on the dot plot, so how that impacts the ipo space, specifically a ticker like this that tracks some of those names, that will be the question. alix: i think it is interes

it is still extraordinarily difficult to get a gamestop store. that have the supply are not going to have any problem selling those. it is the level of demand which is up in double digits for one period of time could be sustained. guy: gaming consoles, the pain of my life. charles allen, thank you very much indeed. let's take a look at what is happening. we have come to the end date of the europe. a little bit lower. the ftse 100 under a little bit of pressure. as i say, this could change tomorrow. the fit overnight is the big news. that is what we are -- the fed is the big news we are all watching and waiting for. we track the news as we count down to that fed decision. we will do that on the cable show at 5:00 in london, 12:00 in new york. the dab digital story come if you cannot catch it, you can also find us on spotify and apple. tonight we'll be taking that boris johnson press conference. alix: really wondering what will happen without one. we'll be talking about that. coming up, something that directly impact so much money people can spend

gamestop has reported a wider fiscal third quarter less than analysts expected. the retailer disappointed investors waiting for more details about how it plans to reshape operations and lure gamers back. it became the poster child for the meme stock movement. and credit suisse says it is regretfully acknowledging that the chairman breached quarantine rules recently when he left switzerland for 10 days when isolation was over. he apologized for unintentionally violating the rules after returning from the u.k. at the end of last month. that is your bloomberg business flash. francine? francine: thank you so much. european markets open higher as traders think the global recovery will be resilient to omicron. kristine aquino, thank you for joining us. let's start with you. it seems pretty quiet today. we are seeing futures in the u.s. moving sideways, shares and europe are seeing a bit of a lift off. what could stop the rally? kristine: it might be a combination. we are heading into the big central bank week where we are going to be hearing from all the major central