i mean, with gamestop, that's another example where people did that to sort of say, hey, look at whathis intersection between politics and business and the stock market, and that's all happening via trump. >> despite what diller says, the company is amazing, it has $200 million. no debt, but the company lost $58 million last year alone, and we know these trials have been a money suck. not that he'll listen, but do you think trump's lawyers at some point try to convince him that these constant attempts often using fringe legal arguments to delay aren't working, they're only costing him money? >> i think those conversations i had before the filings are made, chris, and i think that donald trump is someone who continues to show himself as being a very difficult client, someone who you can't control, and so when it comes to representing someone like that, as long as your client is not necessarily forcing you to do something that is illegal or potentially going to result in sanctions from the bench, you essentially work for them. you present them with different options that they may see as

stock whose price gets inflated beyond its underlying value by online investors, but in the case of gamestopat least, an actual business. here's how one commentator on the infamous "wall street bets" subreddit explained the situation. "if you invest in this on a long enough timeline, you will lose everything. if you think donald trump is going to create an income-positive social media platform, you are an absolute [ bleep ] moron." [ light laughter ] now, in fairness, that's not just some dude's opinion. he's quoting the company slogan. [ laughter ] agree or disagree, you've got to love the harsh wisdom of reddit investors. reporters and financial experts in the mainstream media are all carefully parsing their words and saying stuff, like "the fundamentals of the business do not support the current market capitalization of the publicly traded securities. if the dudes at reddit ran cnn, the headline would say, "this [ bleep ] is worthless mother [ bleep ]." [ laughter ] and here's the real tell that everyone knows trump's stock is actually worthless. investors are betting against it. "the new

it is not gamestop. it includes laser photo tonics. among 20 other companies that have gone ipo.ll to come, hindustan zinc -- there ceo joins us with the outlook. keep it here with us, this is bloomberg. ♪ t? boring. think about it. boring is the unsung catalyst for bold. what straps bold to a rocket and hurtles it into space? boring does. boring makes vacations happen, early retirements possible, and startups start up. because it's smart, dependable, and steady. all words you want from your bank. for nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled... which is pretty un-boring if you think about it. haslinda: you are watching india focus. hindustan zinc is the world's second-largest zinc producer and the largest silver producer. 21% drop reported in net income in net income in the fourth quarter with revenue falling 12% for the year. a 28% drop due to zinc crisis. what assumptions are you making about zinc prices in the coming quarters? arun: zinc prices are up. my guess earlier was that we would be touching $3000. but it looks like it will

gamestop. >> gamestop. what you think is going on here?us. >> do you -- >> company has no revenue. >> do you think it could ever be a bigger business? >> no. >> does he win the presidency? >> no. why? >> it becomes -- >> why would you figure? he's only interesting now because he's out there entertaining the folks. i hope if he gets elected he just plays golf four years. >> do you thill all investors in this are scammed? they think this is a transference of wealth from one side to the other and that's the goal? what do you think is happening? >> i think their dopes. who would buy a company that literally has -- what does it have? $30 of revenue? why would you put, how could you put a value on it? they're buys it for other reasons just like they bought theaters when thwas no theater business or bought gamestop whatever. it's stupid. it's stupid stuff. >> it was 1,000 times revenue, i think. >> what? >> wasn'twasn'tit 4 million? >> why are you eventalking about this? it's a scam lie everything he's ever been involved in is some sort of con. >

. >>> and the gamestop coo exits the company.l be absorbed by other key positions. >>> the big event of the day is the jobs report out at 8:30 a.m. eastern time. it is another busy day of fed official speeches. we hear from susan collins and tom barkin and michelle bowman today. >>> we are checking our futures today with the dow implied higher by 63 points and s&p by 15. for more, let's bring in jason katz at ubs. jason, this is very much a day about the jobs number. do you feel the economic narrative in america can change significantly with what happens today at 8:30 a.m.? >> the porridge his to be just right, dom. if we have an extreme number on either ide, you will have a binary reaction. that is not our expectation whatsoever. i think good news will be construed as it should be as good news. >> if good news is good news and bad news is bad news, what do we make of the recent market action? does it give you some pause? the volatility? >> the higher for longer regime is because the economy is on solid footing. sometimes we over

the only one that is standing gme, gamestop, even that is down 25% year-to-date. amc all crushed.there are cult followings around these stocks. you don't invest because you like a company, because you think you're saving the world by buying a company. liz: very true. >> people at amc thought, let me make this point, they thought they were smart saving the company and it hurt them. you know, the impulse on trump is like let's help donald trump who has been unfairly attacked. that is now how you invest. you invest, you throw money away. if you want to do that give him a campaign contribution. better off for investors, giving donald trump a campaign contribution than trying to support him through the stock because this company has lots and lots of companies. ace greenberg always used to tell me, you never invest with your heart. he took losses knowing once he took the loss, he would have 20 chances to make a gain. he was never wedded to a stock. never believed in a stock. believed in making money and investing. liz: same with buffett. don't fall in love. >> same concept. liz: thank y

. >> okay, then he's the game -- it's like gamestop. right? >> you know what? >> no?ou look at this? you look at this -- >> oh, you're on truth social? >> i'm on truth social. >> show it to me. >> i'm not having you look at my phone. >> show me your phone. >> how dare you? >> seth: why won't you show her your phone? [ laughter ] oh, is the only app candy crush and do you have it downloaded twice? [ laughter ] seriously, jesse, why won't you show us your phone? is it because you're afraid we'll see the video you took of rudy driving his car? [ laughter ] trump himself seems to have no idea how the business works. for example, the special acquisition company trump media merged with is listed on the nasdaq rather than the larger new york stock exchange but when he tried to explain why trump offered a mind-boggling and nonsensical answer. >> truth social is doing very well. it's hot as a pistol and doing great. and it's going public. and the new york stock exchange wants to have us badly. and i told them we can't do the new york stock exchange. you're treated too badly in

perhaps the most famous meme stock was gamestop, when a group of keyboard warriors sought to lift thealready seen this. when donald trump announced he would run in 2024, the share price of the company truth social was to merge with rocketed. but it then fell, after a campaign speech that was criticised at the time as low energy. for the first time, then, we have a us politician whose fortunes can be measured on the stock exchange. from a business perspective, that may be a genius move. but there are other problems with that strategy. by only posting on truth social, and being financially beholden to it, he's limiting his reach. he always said it was twitter that allowed him to bypass traditional media. in this election, it doesn't look like he's coming back. so this might give donald trump a much—needed financial lifeline, but it could also hamper his re—election campaign. joining me now from brooklyn is peter kafka, the chief correspondent at business insider, the new york city based financial and business news website. welcome. the whole thing seems extraordinary and in lamens turns

other reasons, just like they bought theaters when there was no theater business, or they bought gamestopupid. why are you even talking about this? it's a scam just like everything he's ever been involved in is some sort of con. >> that's a clear buyer beware warning there, from a wall street veteran. >>> up next, bill nye joins me live. he has everything you need to know about monday's total solar eclipse. eclipse. my name is david. i've been a pharmacist for 44 years. when i have customers come in and ask for something for memory, i recommend prevagen. number one, because it's effective. does not require a prescription. and i've been taking it quite a while myself and i know it works. and i love it when the customers come back in and tell me, "david, that really works so good for me." makes my day. prevagen. at stores everywhere without a prescription. power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. e*trade from mo

it may go up and down like gamestop did it it's sort of dumb money, a dumb money or money looking to hello, once even though it's worth that and it's certainly is. i think it's 5 billion now or something like that. >> i mean, he'd >> be better off paying $8 to elon musk for twitter blue at this point. but if he can sell it or get out it but it will be investigated pretty quickly if he's doing place like that because it looks like a yeah, i actually wondered i wondered about that because i mean look, and we can call it whatever you want to call it a scam, not a real company, but at what point does it go from just being a bad investment or questionable investment is something more? nefarious. i mean, is there a risk here >> well, there'll be shareholders, that'll sue and say i can't believe this didn't make money, although you can look at his record of its other businesses like this and have an idea of it. but people will be able to sue. i'm sure the fcc is looking at it carefully. there's all kinds of lawsuits among and between the founders. that's still i think going on and there's a

gamestop, the mother of all meme stocks we've been talking about this for a while dropped below $11.a long, long slow descent here for that. the first time it's below 11 since february of 2021 when it shot up. at one point it was over $100 on a split adjusted basis. it split in july of 2022 as i recall and so now you're sitting below $11. some of the other recent ipo have done well. i was excited at aster ra labs, $700 million deal went public march 20th. $36. went to 95. now $67. so it's well off the highs, but still up. this is a successful ipad. amor sports, one of two billion dollar deals --. it was a downsized deal $13 trading above that. let's call that a modest success. what about the pipeline? kind of excited this week. two interesting names coming up this week. thursday at the nyse, pax group, the largest nursing care provider in the united states. about $400 million. that will be trading at the nyse on thursday. what i'm really excited about, my childhood, ul labs, underwriter laboratories. you have to be a certain age to know this, nobody here is old enough except me to kn

gamestop has been on a long, slow descent, the mother of all meme stocks.s on an intraday basis. rallying a little bit today. reddit went public, $34 march 31st, went to $74 a few days later. traded today at -- you see here, $11 -- $44. a new low but still above its initial price. reddit, you can see that. elsewhere, gary gensler is speaking today at a conference. he is emphasizing the value of disclosures. there's a major s.e.c. conference today. they're laying out their priorities. one of the things he led with in his speech today, i monitored that, was the importance of disclosures going on. as a result of the spak rule changes in january, this is where you get these kinds of comments from the company requiring them to essentially disclose ongoing concerns -- >> they're a public company and they would have an obligation. i spent a long time in 2021 looking at ridiculous projections that would come out of some of these companies that were going to merge in terms of a spac merger and how absurd they were based on multiples that seemed impossible and, frank

. >> two words, gamestop. >> that's what you think is going on here? >> i mean, it's ridiculous. the company has no revenue. >> but do you think it could ever be a bigger business? do you think if he wins the presidency it becomes -- >> no. no. why would it be bigger? >> he's only interested now because he's entertaining the folks. i hope if he gets elected he plays golf for four years. >> do you think all of the investors are getting scammed? do you think this is a transference of wealth from one side to the other, what do you think is happening? >> i think they're dopes. who would buy a company that literally, what does it have, $30 of revenue? how could you put a value on it? they're buying it for other reasons, just like they bought theaters when there was no theater business or they bought game stop or whatever. it's stupid stuff. >> there was a thousand times revenue, i think. >> what? >> wasn't it 4 million. >> $4 million in revenue. that's $4 million in revenue. that's ridiculous. >> why are you even talking about this, it's a scam just like everything he's ever been invo

we've seen at brief times over the years with companies like gamestop where the valuations got crazy. on social media to push it up, all of those factors come together. and then you throw in trump and an election year it's all of those on steroids. it's the mother of all mean stock, ultimate mean stock. new go on truth social, you can see some of these groups. there's one in particular that has almost 10,000 traders who banded together to bite stock. they're very loyal trump supporters. they do view it as political expression. what better way to help trump especially with his campaign and buying shares in the company and showing your faith in him. it's taken on a life of its own. like i said before, you now have a lot of professionals on wall street who can spot this coming a while away. around when the deal was closing a week ago, we saw a lot of professionals saying we know a lot of individual retail investors are going to band together and buy this stock. i want that, too. it's crazy momentum buying and selling. we've seen over time, this tends to not end well. but even if it stays