the gm story is a little ridiculous, but i think they have a big opportunity here.ve talked about gm for a long time their $35 billion spending commitment over the next five years. they're putting their money where their mouth is and i think at eight times, it's probably too cheap right here and just to go back to tesla for a second. obviously gm is not tesla and tesla has a head start and advantage in all kinds of areas, but when you're talking about a stock like gm, $80 billion market value versus a stock like tesla at a $400 billion market value, that gap is probably going to close so after the gm selloff, i still want to own it here. >> tim >> the chevy bolt is nowhere on the radar screen of gm's forward looking em and lithium battery and their technology and analysis it's meaningless it's a cash cost here and clearly for a company that's been focused on free cash flow and running a very efficient business and being profitable, that's disappointing look, i think the chevy bolt is an inferior product and it's not what gm's hanging their head on and where the tech

we've asked us a gm exactly how many there are. but reports suggest around $500.00 employees and their families remain a situation. republicans describe as disgraceful. my office was working with one of these journalists and tried for 2 weeks to get attention brought his case. so he, his wife and his infant child could be saved, but our police were ignored. it's absolutely disgraceful. the us state department claimed they evacuated the local employees when in reality they abandoned hundreds of usa gm journalists and their families. a scrambled evacuation terrorist attacks a couple airport and a government that doesn't exactly love the us state department. it's a horrifying situation. it's a horrifying ideal. i mean, we've essentially our government essentially left these people to be murdered, slaughtered by the taliban. these people were seen by taliban. they were us propaganda agents hired and paid by the us government to to report news favorable to democracy, to, to the west, to the u. s. government. and now we've just abandoned

last year alone, the usa, gm's state funded outlets like voice of america and radio free europe spent over $5000000.00 to win the countries hearts and minds. the organization claims to have the ears of over 60 percent of the afghan population as well. no doubt cutting edge propaganda was just as important to washington as state of the art bombs. radio free europe and radio. liberty mission is to promote democratic vail, youth and institutions by reporting the use in countries where a free press his band, by the government, or not fully established, voice of america will serve as a constantly reliable and authoritative source of news was of america will represent america not any single segment of american society, and will therefore present a balanced and comprehensive projection of significant american thought and institutions. officials on the house foreign affairs committee say only 50 usa gm journalists were able to escape after getting help from other governments. the state department hasn't even put forward a concrete plan to get its own personnel back home. it just related promi

american thought and institutions. officials on the house foreign affairs committee, se the 50 usa gm journalists were able to escape after getting help from other governments. the state department hasn't even put forward a concrete plan to get its own personnel back home. it just relate a promise that no one has been forgotten. we did not forget about you say, jam employees and families are, will, we will remain keenly focused on getting them out safely. just as soon as we can, the usa g m spokesperson has confirmed that their people are still in a life and death situation. we've asked us a gm exactly how many there are, but reports suggest around $500.00 employees and their families remain a situation. republicans describe as disgraceful. my office was working with one of these journalists and tried for 2 weeks to get attention brought his case. so he, his wife and his infant child could be saved, but our police were ignored. it's absolutely disgraceful. the us state department claimed they evacuated the local employees when in reality they abandoned hundreds of usa gm journalists a

this comes after gm last month said it expected production to be down by about 100,000 cars in north america during the second half of the year compared with the first half of the year. >>> a private jet. that is how one carmaker is billing its design. audi unveiled its car, called grand sphere. the car can't actually fly, but audi says it's designed the car so the inside transforms into a first class lounge while the car is in self-driving mode. it represents what audi believes could achieve as it pivots to electric and autonomous vehicles. the company plans to sell these electric cars by 2033. >>> virgin galactic's spacecraft has been grounded by the faa. the feds are investigating the company's previous flight that carried founder richard branson. it says the rocket-powered plane veered out of its approved airspace during its descent. the company will not be permitted to conduct another space flight until the faa's investigation concludes. >>> up next, are you enjoying the torture? the giants fighting for first place. we're going to show you what happened at the ballpark this afte

larry: the gm is gm is gm is gms and he jokes, if we do not get it done, i am going to sit next to youmargin between winning and losing is such a fine line. lorenzo: and what do the guys feel like? you are one play away from going home and feeling sad. they found a way to win the game because they fought together and the offense came up and made crucial plays when needed. larry: and there you have it- woah. wireless on the most reliable network nationwide. wow. -big deal! ...we get unlimited for just 30 bucks. sweet, i get that too and mine has 5g included. that's cool, but ours save us serious clam-aroonies. 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. california, did you know our homes share power? but when we try to stay cool in a heat wave our supply is pushed to the limit. but you have the power to keep us up and running! “i do?” yup, we all do! with flex alerts. they notify us when to shift our energy use if our power supply is stretched. so from pre-cooling our homes, t

so, when you left gm, that's jim for you. so, when you left gm. you _ that's jim for you.left gm, you are re-honed there in left gm, you are re—honed there in the us. do you have any fun memories of your time together in london? filth. of your time together in london? oh, oh, sure. of your time together in london? oh, oh. sure- we — of your time together in london? oi oh, sure. we loved of your time together in london? ©“i, oh, sure. we loved to take walks together in hempstead, especially the east. we often shared a new lease on life... the east. we often shared a new lease on life. . ._ lease on life... laughter. occasionally _ lease on life... laughter. occasionally afternoon i lease on life... laughter. | occasionally afternoon tree lease on life... laughter. i occasionally afternoon tree at eglinton house and he had the stones and clotted cream and i would have... ., , ~ ,, , and clotted cream and i would have... ., , ~ ,, have... the uk loves the muppets as ou know have... the uk loves the muppets as you know and — have... the uk loves the muppets as you know and i _

i'm long gm, but that's been just a terrible place to be. beginning of next year is going to be very, very important for them and maybe we'll see some valuation out of cruz >> coming up, alibaba popping in today's session, but is this comeback for real? we're breaking down the china tech next. plus options traders are betting on a chip rift wth rephen isort crosses the tape don't go anywhere. "fast money's" back in two with directv stream, i can get live tv and on demand... together. watch: serena williams... wonder woman. serena... wonder woman... serena... wonder woman... ♪ ♪ ace. advantage! you cannot be serious! ♪ ♪ get your tv together with the best of live and on demand. introducing directv stream with no annual contract. >>> alibaba jumping nearly 4%. tim, what's your take on this one? >> well, i think you've got a case wherefirst of all, on the charts, you could take alibaba to probably 210, 215 and we're still in a down trend. i don't think that the chinese government is going to let up. i do think though a message has been sent, bo

gm crops are gm crops, whether they—re gene edited or use older genetic—modification techniques. that prevents them from getting the common form of lung disease. today's announcement could mark the start of a new generation of genetically produced crops and animals. pallab ghosh, bbc news. with me is dr helen wallace from genewatch, a not for profit campaign group that monitors developments in genetic technologies. also i'm joined by professor helen sang from the roslin institute in edinburgh, where researchers have developed gene edited pigs that are resistant to a type of lung disease. thank lehmans terms —— our audience is interested but we need to talk in lehmans terms. tell us the benefits of gene edited props or pics that are resistant to lung disease. mr; are resistant to lung disease. my own are resistant to lung disease. ii own research is are resistant to lung disease. ii1: own research is gene are resistant to lung disease. ii1 own research is gene editing in chickens for resistance but colleagues at the roslin institute have developed pigs using gene editing tools whe

toyota, gm and stalanti, the parent of jeep and ram let's talk about what they're seeing all impactedchip shortage why point out these three. they are the three largest sellers of pickup trucks in the country. they can't get enough chips to make as many pickup instruction as they would like to make then you might ask -- toyota is not one of the three biggest, ford, gm and stellantis. ford numbers tomorrow. but they're in the same boat in terms of chip production limiting how many pickup trucks they can build we've seen a couple of times already in the last month or two where they've had to bring down production at a particular plant for the f-150 for a week, maybe week and a half and bring it back up. that's the state of things right now. i want not changing any time soon. >> tough times for a lot of people trying to sell a car. phil stay with us. because joining us on the phone right now is mr. wonderful himself, kevin o'leary kevin, you also have breaking stock news you own gm but you just bought shares of ford tell us why. >> yes back in july 9th while on "halftime report" i made s

, gm, gm" and this exhibit and lots of people were. this is the idea. look at how wide those lanes are. you turn this city into the super block of towers, and that what you do, waiting into the long line and so this is the course of things in 1940, and you sit in something called the carry-go-round, and built by a diorama -- and how are we doing? are you bored? do you need to breathe? stick with it, because it is going to get good. so let's look at what happened with the highways. the highways were doing fine when they were outt in the sticks, because there was nobody to bother them, but this is washington, d.c., and this is the 1950 layout for the freeways that is going to go through the city, and very quickly here is the inner beltway, okay. you can see the district lines here. this is inside the district that you will have a beltway. it is going to work out good. 66 is going to come in, and do this round thing, and that is good. this is now 395 i'm guessing. is that right? yeah. that seemed like a good idea. and i-95 is going to cut

. >> reporter: gm says workers will be back the first week of october, but for how long?o one really knows. >> we don't know what amount of parts are going to come to us. we don't know how long they're supply us. >> reporter: you could be right back here in six months again. >> we could be right back here in two weeks. >> reporter: company towns like lansing have always been linked to the economic tides. when one boat rocks, everyone else's does, too. stephen farrell's restaurant is doing more to keep its moorings. >> i used to have 29 employees. i'm down to 19. >> reporter: is that due to the chip? >> absolutely. >> reporter: he said the bar was filled with someone who works at the gm plant or supplies the suppliers. he knows someone linked in that chain. >> i have no one in family to be concerned about. a lot of my friends i work with, they have family, kids, they have bills, they got doctor appointments, dentist appointment. >> reporter: bread and butter worries that have echoed through the bars of michigan through generations. back in miller's bar, the lunch rush is o

. >>> gm is temporarily halting production at eight north american plants due to a global computer chip shortage. many of the chips are manufactured in southeast asia where covid cases are surging. gm says the shutdown will last a week or two until supplies improve. >>> bottle rock isn't the only game in town this weekend, how you can enjoy the stern grove festival without leaving your couch. let us take you to a place you've been craving. where the aroma of authenticity turns into the scent of home. and the warmth of friends and family is in every bite. here, there's a story behind every meal. with cacique, you'll be inspired to add your own flair. so you can tell a story of your own. cacique.your auténtico awaits. boost and cricket charge you more for unlimited 5g. metro doesn't. introducing the big 5g upgrade. just twenty-five bucks a month gets you unlimited 5g and a free 5g smartphone. that's half the price... ...for one line of unlimited 5g smartphone data ...plus a free samsung galaxy 5g when you switch and trade-in. all with the power of the t-mobile 5g network. rule your day wi

we're talking about vehicles having like a thousand chips. >> reporter: gm not the only one. ford, toyota, and nissan also pumping the brakes on production. the computer chips are mostly made in asia, where right now the delta variant of the coronavirus is hitting hard. forcing plant closures. the domino effect quickly extending to the big flee in detroit. >> we're going to have this start-stop situation where it's like the lines come back on, they get shuttered back again. some automakers, they're reworking their vehicles to have fewer chips. certain options aren't being offered. but it's not been enough to actually completely curb all of the ushz. >> reporter: how does this impact you? with less supply comes increased demand, sending car prices skyrocketing. the average price of a new car last month was an eye-popping $42,832. and supplies are only tightening. car dealerships had just under 1 million new vehicles on their lots during august. that's 72% fewer than during the same month in 2019 before the pandemic. the bright spot? if you're looking to sell a car, now is the

no, you cannot run a car without a microchip. >> reporter: while gm waits for the components to comee plant will shut down for two weeks. >> it will be paid we'll have holiday pay the week after will be probably an unemployment and sub pay. >> reporter: frederick jamieson is the local uaw representative. >> we would love to be working 24 hours a day but it's just not the case right now because of the pandemic and the semiconductor issue. >> eye opening thanks to tracy hinson for that. >>> janessa is monitoring the fire danger out west that's next. >>> what t ehend of the pandemic unemployment benefits could mean for the labor market improve your heart's ability to pump blood to the body. don't take entresto if pregnant; it can cause harm or death to an unborn baby. don't take entresto with an ace inhibitor or aliskiren, or if you've had angioedema with an ace or arb. the most serious side effects are angioedema, low blood pressure, kidney problems, or high blood potassium. ask your doctor about entresto. lactaid is 100% real milk, just without the lactose. so you can enjoy it even if

made a case for gm the 72. but i'll make that case again in terms of ford and i'm not looking to play would you rather because in this case, you can own them both, but ford's going to earn about 1.90 you've got stocks closing in on 18, 17 bucks it just to me it's too cheap now people say you don't as thes a big max 10 order so is there more turbulence ahead? plus, crypto dropping as el salvador adopts it as its legal tender brian kelly joins us to break it all down "fast money's" back in two. but this is worth. and that - that's actually worth more than you think. don't open that. wealth is important, and we can help you build it. but it's what you do with it, that makes life worth living. principal. for all it's worth. (vo) this is a place for ambition. a forge of progress. a unicorn in training. a corner to build a legacy. a vision for tomorrow. a fresh start. a blank canvas. a second act. a renewed company culture. a temple for ideas. and a place to make your mark. loopnet. the most popular place to find a s

and tesla that goldman sachs says will be the winners in the auto industry race, gm moving higher by 2 1/3% right now on that thumbs up but the big bank is slamming the brakes on lordstown, ticker symbol ride, although we'll give you the reason why ride turned around here, doubts on the growth prospect. lordstown investors are undaunted at this hour, shares reverse pre-market red arrows, they don't want to listen to goldman at the moment, lordstown up 3.5%, gm as we mentioned 2 1/3 and tesla is jumping to 2.8% as it rolls out a beta version of full self-driving mode but only for drivers with high safety scores. taking a quick look at other major moves in the ev space, there it is continuing to lose strength at this hour, down about 6.6% after big gains last week, battery recycler continuing its, sorry, its wide ride to the upside right now up 9.25% i would say that's wild, workhorse is moving higher by 9.7%. let's get to facebook a lot of you own this in some portfolio or another. facebook is fighting its way into the green just by a third of a percent after selling off at the hope.

and i think the points about gm are relevant here. a final question about batteries. how are they able to deliver that kind of range on a battery similarly sized to tesla why shouldn't we expect tesla and others to catch up >> there's a hyperfocus on batteries, basically 100 kilowatt per hour, costs going down over time and getting $50 to $75 to break through and be cheaper. but ultimately there's the power train and efficiency of how you get that electricity to the wheels and ultimately the err dinam ibs of the vehicle so, i think that's one thing peter is unique on maybe the battery has a longer range or maybe have a smaller battery that's less expensive and have a similar range and the discussion here is going to more outside just the pure battery itself, get a lot more into the efficiency, the power train and the aerodynamics of the vehicle to help ease the pressure on battery advancements and i think that's a key point here for lucid that people really need to understand. there's a whole lot more than just a battery >> thanks for joining us and walking us through

. >> you sold gm >> jim should be ecstatic about that i'm finally out. i bought gm on march 18th at $59.80 it has been an awful trade for me jim and i are in a completely different place and there's a great lesson here for the view% where you actually get into a stock. scott, i like to place time stops. i gave myself six months this has been obviously, a horrible purchase for me, and then there was something glaring to me off the screens in the last couple of days and that was nvidia nvidia was down 8% nvidia has been since insepgsz in the quality momentum index and i don't personally own it. it's been one of the best performers i don't have much crypto exposure nvidia gives me a way to get that crypto exposure, so i took advantage of the 8% decline in nvidia and unfortunately, i had to sell out of general motors because the time stopped out and i basically bought into the stock too high and it will go up >> you got out of gm and got into nvidia. >> throw me a six-month chart of general motors so we can all see what joe's talking about in the time period

let me give you the thesis on gm the electric vehicle platform is extraordinarily strong and robust,icense and will license to others. the autonomous vehicle unit, crews could be spun off. i think it will have quite a it is a factual statement. it is also factual to say there's a bid right now and it will continue. the one thing obviously ere wil hallelujah moment when it comes. i think it will be a slow call that production picks up >> not for a while >> the most important thing is that demand is there demand is there. >> right but even lisa su out at code told our guys out there it is not going to happen this year and for the first half of next year it will be a tough situation as well for the chip shortage so it is not going to be solved really any time in the most immediate future >> it is going to be -- there's going to be a slow thaw as some of the issues like fires at plants in japan and droughts in taiwan, as those ease and get repaired you get a slow thaw what lisa su was talking about, and i heard her comments, is that the new plants that have been being built for the last

a relatively outperformer what multiple should gm?n here. i'm not sure how much but the chasm is just enormous even if were to get, i don't know, low double digits let's say, which wouldn't be crazy, it's significantly up from here. >>> coming up, the biotech breakdown, the ivb etf not immune to the sell-off we get to you the drop and set up for tomorrow's trading session, what traders are doing and watching aed has of the en ckig after this. not the exception. at emerson, our cold chain software and technology keep perishable food at proper temperatures, to assure its safety and quality. emerson. consider it solved. your shipping manager left to “find themself.” leaving you lost. 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 there's software. matchiand then there's iption. industrial grade software, forged from decades of industrial experience and insights. meet honeywell forge. analytical software that connects assets an

gm recalled all of the 100 32,000 volts sold since 20 fixed -- 2016 to fix the problem. global news, 24 hours a day, on air and on "bloomberg quicktake," powered by more than 2700 journalists and analysts in over 120 countries. i'm ritika gupta. this is bloomberg. ♪ >> the future of our nation and indeed the world depends on a free and open pacific flourishing in the decades ahead. this is about investing in our greatest source of strength, our alliances, and updating them to better meet the threats of today and tomorrow. jon: the president of the united states, important new partnership with australia. from new york city this morning, good morning alongside tom keene and lisa abramowicz, i'm jonathan ferro. this thursday morning, price action shaping up into retail sales and claims earlier this money. we are negative a little more than one points have -- .1%. bonds hire a single basis point higher. the story of the moment come across asset, it has to be in foreign exchange. ella stronger, weaker here. that's to 1.1770 tom: there are nuances in the strong dollar and weak

why didn't gm pursue this?1958, gm was the most powerful, largest profitable country -- country? company in the country. also this was required cooperation with the people who made the roads, basically the government, but some of you may be familiar with the famous quote "what's good for america is good for general motors" and vice versa so the connection between the government and general motors was there. so here's the way, and i hope this will be big enough for you. here's the way general motors also played it. this is the firebird 2. there were three of them. i urge to you look up firebird 2 and 3. wait, back. all right, let's see if it will play. >> a using great power in small packages. >> that's not the image. wait. >> generator, exhaust heat is no longer a problem. though experimental car of tomorrow has a science fiction appearance, it is practical and usable in every design. even the electronic safety highway is feasible for the future. here tomorrow's driver might just push a button and the car would

officially the first electric pickup truck to make it to the consumer market beating out auto giants gm and tesla the truck maker released images, there they are the first all electric pickup truck rolling off the assembly line soon to be in the hands of buyers and ready to pay $67000, pretty cool ford let's take a look at that stock they are partnering and have a 2.5% move and amazon which is put it in order for 100,000 all electric delivery trucks is seen again of 1% right now. we have more electrifying news hitting the tape at this hour it is swallowing up a majority of the stakes and italian ev motorcycle maker motor company marking this if an ethereum acquisition in the last nine months, the chairman and founder and a member of the wwe dynasty shane mcmahon, you're on acquisition terror and the big news 70% stake, what gives you so much confidence that there is a market for easy motorcycles made in italy. >> a, they are sexy and i'm an avid writer and i enjoyed them but getting back to the consumer that's where everything is going, it will probably be on a plane, the really cool th

gm is dealing with its own battery issues with the bolt the managing director at capital alpha partners, james lucier do you think this will survive $12,500, is that an unprecedented sum? >> that's the size currently with an augment. we have a really astonishing provision here where with other tax credits you take an 80% haircut if you don't use union labor for the developers i would be inclined to think with the administration that wants to show an unprecedented bias towards unions and unprecedented focus in policy maybe you could force through this differential where you get an extra $5,000 for union-made vehicle using domestically sourced stuff. the reality is it is designed to give labor unions a strong incentive. >> it's interesting to see the commentary where people are trying to figure out where their cars are made. who is making them if nothing else this will have to be a big educational process. tell me what you think the net result will be, how many more evs will be sold and how many by the big three? >> this will provide a strong incentive. it says no car which costs more tha

gm will idle more plants. chip companies are building new facilities.ibbon cutting at asl in san jose. intel is building new fabs in arizona but there's no way they can catch up with what's need right now. they're talking about a chip shortage for maybe the next two years. >> i was telling my husband maybe buy lower tech cars. they don't exist. everything has chips everywhere. >> everything is off the lot because that's what a lot of people are doing are buying used cars. >>> new this morning, walmart is giving everyone a raise ahead of the holidays. the nation's largest retailer hiking hourly wages by at least a dollar for more than 565,000 store is workers. the ceo says the average hourl wage is now $16.40. the retailer also plans to hire 20,000 more workers ahead of the holiday shopping season. >>> and trending this morning, after 40 years, abba is back. >> let's take a listen. oh, yeah, to their new song. here we go. ♪♪ >> old-school feeling. >> take you back a little bit. >> just a little bit. look, this is one of two songs, the new songs, that the

as for gm and ford, gm reports on a quarterly basis ford we'll hear from tomorrow. for both companies the pickup truck is huge and both have been impacted because of the chips shortage >> when is this likely to turn around >> reporter: not until well into next year. what we've seen from the chip suppliers in asia, particularly in malaysia, covid-19 has impacted the number of people who can go in to work. there's fewer chips coming out of malaysia and other parts of asia this is the covid-19 impact, a delayed impact, if you will, that is still hampering the ability to build as many vehicles as they want. >> thank you, phil phil lebeau reporting. >> the lack of supply has been weighing on stocks in the sector lately auto nation down 10% in the past month. it's still been a good year for the group, though, up about 55%. how about carvana which sells online, up 37% autozone up nearly 30% this year >> the nasdaq hitting a record high led by stocks you may have heard of -- apple, facebook, google the poor little small caps are getting left behind. the russell 2,000 down b

when you look at ford, gm. fca, they put money.have got the money and infrastructure and people to know how to build it correctly. the question, will people buy it? we're still looking 2% take. even if they double, they double that incentive for consumers, will they want it? that is the thing we don't know. consumers have limitations. no one wants to give up their freedom. charles: yeah. it just looks like the government will make it where you won't have an alternative. the only thing you will be allowed to sell is ev cars or maybe hydrogen. lauren, thank you very much. >> thank you. >> i want to bring in sylvia jablonski. on top of hydro, high droved again, one of your etfs is a hydrogen etf. you have ballard power. i've been personally waiting 25 years for these stocks to pop. is it going to happen soon? >> it has been a long wait. >> a hell of a wait. >> it's a hell of a wait. some of the best things, getting in on the ground floor takes a long time to see the performance really multiply and i think full cells will come after ev