some high-profile ipos have fallen down to earth. our own andrew bary tells us which are deals and which i don'ts. what are the most important things investors ought to be thinking about right now? inflation and recession fears, the s&p barely avoided closing the bear market, retail stocks plunged after earnings reports revealed inflation was reducing profit margins. and why warren buffett bought billions of dollars of paramount stock instead of streaming giant netflix. been levisohn, carleton english and jack hough. it looks like the s&p finally in bear market territory and at the end of the day friday a furious bout of buying kept us out of our bear market, that means all clear? ben: the s&p barely avoided closing the market and it is down 18% from its all-time high, the way i look at it the nasdaq is down 25, 9%, the russell 2000 is down 20%. 40% of stocks in the nasdaq, 50% or more. whether we call this the bear market, the s&p didn't get to the 20% threshold seems immaterial because it deals like one. the bulk of the selling has

right now, the reason why you do not see so many ipos being printed is the markets are not there.t's a global markets issue, not a greater china issue. hopefully there is a window after the summer, hopefully where things can be, a few things could come through. stephen: i year ago we were in this room, and the headline we got from you was you felt hong kong was being left behind because of covid and no vaccinations. now, fast-forward, it's because of the quarantine. the rest of the region and world seems like they have opened up and moved on. are you concerned hong kong has lost its luster as an international financial center because of its covid policies? guest: hong kong has suffered. the situation was difficult. colleagues have come back to the office, most restrictions will be lifted by thursday. there is definitely a different yield and we had -- field -- feel that a couple of months ago. it's important if hong kong keeps moving on relaxation that's going through, and as you and i discussed, right now probably one of the biggest bottlenecks to bring some families who might ha

they have a tremendous cfo i wasn't surprised they may try to break the ice in the ipo market, at theday, public market investors and even cross investors in the private market have a bevy of choices. with public comps down anywhere from 50% to 70%, the bar is going to be high for companies that want to go public i'm not an investor in instacart, but, you know, well run companies should be the first to get public this year when we do see a return of the ipo market. >> jeff richards, always great to get your insights, thank you. >>> and after the recent selloff, is netflix still overvalued one long-time bear is changing his tune we will break down that call next next do stay with us. ♪ ♪ opportunity is using data to create a c advantage. ♪ ♪ it's raising capital that helps companies change the world. it's making complicated financial concepts seem simple. opportunity is making the dream of home ownership a reality... ♪ ♪ ...writing new rules and redefining the game... ...and driving the world forward to a greener energy future. (applause) ♪ ♪ opportunity is setting a goal... ...and cha

tanvi: birth regards to the ipo market, -- with regards to the ipo market, the secondary market investmentthe guards to ipo, i feel that if the fundamentals of the company are strong, and future prospect of the company is bright, such investments should be looked out with regards to a longer-term loan with regards to volatility. i think to take a listing gains with regards to ipo's is currently wind up with regards -- juliette: some of the risks out there, i know the volatility, do expect that there could be an exodus of some of the retail investors? tanvi: absolutely. i think with regards to the investors, we had an influx of investors when covid started. we saw investors increasing in participation and i believe that the participation is going to continue, even when we are seeing indian equities. we seen domestic investors remain stable and positive on the indian markets, with regards to regional investors, i thing i would expect them to not have too much of an outflow during this time. at the same time, i think that investors need to understand that equity markets are going to remain vo

the same thing with ipo index. we have to get back to the pre-covid highs around 35 on ipo grade we are below those levels, who knows how much lower we can go. we need to see rotation and they have to stick those levels and they have not. it's a tough game to play. liz: it is a tough game to wrap your mind around how jc looks at things. he does not look at inflation is soaring and we saw the worker shortage and the great resignation, he simply looks at technical levels. let me get to you and you tell me, people are looking at losses in there saying when do i hold on and when do i cut the. >> that depends on who you are and the quality of names that are in your portfolio i have not been selling anything at the way down, the names of my portfolio and you and i discussed it are the bigger medic and should make a cap consumer staples, names under pressure at the moment will be the first ones to react when this settles down anybody goes back and people will go for quality, the quality will be apple, microsoft, johnson &

they were oversubscribed in the ipo.ot of retail investors missed out. >> let's talk about this. this is a venture capital fund. >> this is focusing on early-stage infrastructure software. having said that, i think this infrastructure software, there is so much more to be built. i am still really bullish on the company we have invested in. ftx is still private. i am so bullish on what they are building. early-stage, they are missing a lot of building blocks. i am excited about bundlers. that is the storage for web three. there is so much more to be built. we need to just hang tight and not get too scared with what is going on. >> let's talk about the crypto market. they are basing themselves on web three. when you see them getting hammered so much and the spillover effects of the money that has been placed into these sorts of businesses and now a pullback and risk tolerance, does that mean the people will be worrying about the rest of the crypto space? >> i think this is not about bitcoin prices. it is about the technolo

fewer ipo's, fewer ability to exit investments for vc firms.us short capital to invest in the startups of tomorrow. >> why is that? covid? >> there's a litany of reasons. people are dealing with losses in their growth stock portfolio. chaotic market environment become all-consuming. you just don't have time to look at new ideas. on a day like yesterday if someone calls and says we've got this great ipo. >> how often you make a decision on a new investment opportunity? >> verily. the people that work for me are much better at those decisions. >> how many do you get? >> proposals is like an endless number. -- that is very mixed across the industry. one of the big changes for us was the lack of asset -- access to corporate management teams. we are so intertwined with corporate america and trying to understand business models, the value proposition of consumers, how they are going to take the business forward in terms of new r&d and projects. using that to corporate america when we moved to the world of zoom based calls that were very anodyne, that

in the past post-ipo, we guided it would be 36 months since the ipo, we are still maintaining that view operational basis, it is practically pretty simple because essentially every single path of our business, every single prong of our business requires a robust financial service. be at the mom-and-pop kiosks, the merchant, the end customer. it supports the stream for us to empower every prong of our business to service the customer better. yvonne: you also acquired hello fresh with a 35% stake. can you give us some indication of how that business is going and how impact of an intact that will have on your topline growth? teddy: it will be meaningful in the future. as you know, we have about 13 million mom-and-pop kiosks. a majority of them are resellers because they are a traditional convenience store. the capacity they have with this price, 128 sotres, we can use that to service our mom-and-pop kiosks. it will be crucial for us in the future to continue our penetration into this segment. david: ok. are you looking to make any other acquisition these next 12 months or so? i know you pr

there is already talk about another ipo.is according to dow jones and noting mosque is telling investors that he plans to possibly return twitter to a public listing, launch an ipo in as soon as three years. $54 billion deal is expected to close later this year, we are not seeing this move moving the stock, but of course, there has been a lot of focus on the financing of the deal, and it's closing later this year which is subject to financials holding up, approval of shareholders and regulators. we are also reporting various sources indicating musk is speaking to investors and private equity firms to shore up if not share financing for twitter, perhaps putting less of his own money at risk, doing it, we know he has shared some of these views that he did not care, then we heard he had some specific ideas for investors to cut jobs, cut costs. he is sharing an idea that twitter would be launched in another ipo within three years after taking it private. shery: talking about the financing efforts, tell us more. su: there has bee

the nasdaq still sees a healthy ipo pipeline.ow many companies want to come to the public market in this kind of environment? we will teach -- we will speak to adena friedman. this is bloomberg. ♪ ritika: this is bloomberg markets. i am ritika gupta. you're looking at the live shot of the principal room. coming up, brian chesky joining bloomberg technology at 5:00 p.m. in new york. keeping you up-to-date with news from around the world, here is the first word. the european union is proposing to ban russian crude oil over the next six month. ursula von der leyen also said that refined russian fuels would be banned by the end of the year. brooke has learned that hungary and slovakia will not enforce the ban until the end of 2023. those countries were opposed to a quick cut off. the rest of bill quan for -- the u.s. investigations into questionable trading practices are on the rise. these probes center on the same question -- are the markets rig. biden administration officials pledged to sue -- pledged to pursue white-collar crimina

now before it is fixed, carl, he is talking about ipo in three years. >> yeah.s a lot of reporting he did tweet about potentially charging commercial and government users as he makes it free for i guess you call it retail users one thing we didn't mention was the tweet about nfts and changing his avatar and saying that seems fungible. >> seems kind of fungible. i mean, it's just been a gift to us business reporters watching musk tweet and his reaction to all of this. who really knows how it shapes up it is fun to speculate, jon. we have seen him miss targets. maybe it will be three years, maybe it will be never you never know >> keep that never on your bear side of the thesis also the free mason joke somewhat funny check a couple of stocks we talked about airbnb, amd, strong earnings to the up side but well off highs of the session, still in the green, carl, so far. >> indeed, guys. by the way, tonight, the parade rolls on ebay, twilio, oil came off from inter day highs. got slightly better than expected inventory numbers and the vix is still below 29 with two h

the renaissance ipo etf down 25% in the past month.c spac post deal index is down almost 20% for the month and a deadline is fast approaching for example spac deals to get done. let's bring in santosh rio with manhattan venture partners santos, welcome. good to have you with us >> before we get to some of the declines a little bit of background here. when a spac goes wanting for a deal after about two years in typical cases, what do those spac organizers have to do return the money to the investors? >> absolutely. they just have to return the money and the cost of setting up the spac, you lose that. that's an invested capital and you can't get that back. so you just have to return it. you have two years to get it done that's enough time >> many of us remember what went in 2008, 2007, 2008 in the real estate markets and auction rate securities and other kinds of esoterica that cratered. is there any possibility that the spac market, if it falls apart could be the kind of tipping point to a real financial crisis in turn, what is now not

>> they had this huge ipo in november.case, we have an ipo some of the biggest investors, it insiders, employees are restricted with what you can do with your shares initially. the lockup vent that 720 million shares of rivian became available for public trading. they could be sold. we had reports that fold had -- ford had sold a block of 8 million shares at a discount. it is not good for sentiment when when your biggest shareholders as trade when lockout lifts. when look at has the shares have performed since the post ipo peak of $172 a share. all things considered, when you -- it went as badly as it possibly could have gone. >> badly as it possibly could've gone, meanwhile there is an investor not selling. >> he is a big saudi family conglomerate, the third biggest shareholder in rivian, and amazon, another big investor in rivian, they said they have no intention of selling their stakes. they gave a very public backing of rivian management. we did not get the same explicit backing from rivian -- amazon. they did not will

>> it certainly feels like the window is not particularly open when it comes to ipos. you are right, we saw those consumer facing ipos, even if you look at the fintech space, companies like robinhood have already gone public. even in the fintech space they're more focused on the infrastructure, and even companies like flock freight and these other -- these other infrastructure companies to deal with the logistics of infrastructure those are also tend to be more b 2 b oriented we have the likes of go puff using logistics to deliver things more quickly to consumers. their valuations as proivate companies are much higher than comparable companies in the public market. we're likely to hear them say they'll hold off we certainly should ask about this later. >> go puff at 27, that's one that's got to watch out. >> this is a company that's innovated by using so much data that it has about what consumers want to make products themselves and improve their margins. >> they got to be careful not to go poof, though. we're going to have you back talking to flex port real soon, a di

tom caulfield, ceo of global foundry, the one ipo i liked in the last year. "mad money" is back after the break. >>> coming up, a stock on the chopping block cramer checks in on the metaverse player that has investors frowning in this reality. next. from every corner we want to hear from you, drop us a line on "mad money." >>> next, the latest report from the bureau of labor statistics as inflation remains near 40-year highs. the senate votes on protecting abortion rights. >> the fact, the news, with shepherd smith, next on cnbc. for mike's retirement party. worth is giving the employee who spent half his life with you, the party of a lifetime. ♪ ♪ wealth is watching your business grow. worth is watching your employees grow with it. ♪ ♪ staying up half the night searching for savings on your prescriptions? just ask your cvs pharmacist. we search for savings for you. from coupons to lower costs options. plus, earn up to $50 extra bucks rewards each year just for filling at cvs pharmacy. and it's easier than ever to get your projects done right. with angi, you

>> the biggest problem is since the ipo, this has been a train wreck. have has been the communication for management the ability to control the supply chain, some out of their hands. investors do not have confidence that they have been able to navigate ultimately the price increase and they took back the price increase a comedy of errors it feels like they are slowly moving around the corner in the right direction. demand is there. reservations is 90,000 it is a different market this is a penalty box stock right now. >> i did a panel with gm ceo mary barra last week she was not knocking rivian, but companies like rivian out of the blue startups is doing something she has known for years. manufacturing cars and trucks is hard it is hard work. supply chains are tough. it is difficult. do you think that rivian is going to get through this? i don't ask that question lightly. >> i think they will get through which is why i believe here the risk/reward is still there and positive i think what mary said is true a lot of the companies underestimated the supply

in some of those cases, the ipos, but we really don't know what the employees may have sold, as well because it's only the insiders and the top holders that we get disclosures on employers might have sold, as well they have good information as executives and not as good and certainly not the information that everyday investors have >> robert frank. one of the things a few of those insiders have in common is the high, short interest in their stocks caravana is nearly 30% short interest and we'll talk about more names with big short interest that could pop in "power lunch" which begins right tyler? ♪ ♪ >>> kelly, thank you so much we'll see you in just a few seconds. welcome, everybody i am tyler matheson. the market sell-off intensifying this afternoon and here is what we have in the hour ahead. apple down 20% from its january peak off 7% just this week the sell-off spreading from speculative names to tech stalwarts and having implications for the broader market plus, wells fargo souring and i mean souring on electric vehicles, questioning when ford and gm will actually make money sel

the chip design unit preparing for an ipo.guest about how it could become the most valuable asset in the portfolio. the ceo of arm is with us. let's talk about how arm is moving into more markets and more valuable markets. what opportunity is that unlocking for you? >> we've had a great year. we just announced results earlier yesterday. record revenue, record profits, record royalties and licensing. we are seeing the demand for on technology across all sectors. particularly in automotive, infrastructure, and iot. we have had huge demand in those areas. emily: where do you see specific opportunities for growth? is it computing? automotive? >> one of the areas we have been known for historically is power and power efficiency. think about smartphone were we have had great success, it is the ultimate device. it's all about power and power efficiency. now, think about the data center or an electronic vehicle. both of those have the same type of requirements. they need to be very power efficient, mindful of performance, and they hav

it is trading below its 2017 ipo price. company has doubled users and tripled revenue per user and gone from burning cash to generating cash, guidance was given a month ago that advertising deteriorated. the economy, inflation, supply chain with russia, facebook had a warning in february, the question is how far it could spread. one analyst set of companies pull back on their ad budget they will take money from smaller venues and put them in the ones they know work from now. bad news for snap, twitter and peinterest but okay for facebook and google. if the economy really turned south who knows? some of these stocks are pretty cheap, that analyst said snap is set for a draconian downturn, facebook or meta, incredibly cheap, 17 times earnings. jack: snap well below the ipo price. mega-retailer amazon is downsizing where to cut costs. certified turbocharger, suspension and fuel injection. translation: certified goosebumps. certified from headlamp to tailpipe. that's certified head turns. and it's all backed by our unlimited mi

staying private for too long, but i know you've written that we're in sort of a nuclear winter for iposonder how long you think that winter could last. >> it's a great question, carl, the big challenge right now is the ideal beyer, people forget when you go public, there's a beyer for those ipo hares, it' not only fidelity, it's cross overfunds. one of the challenges you have right now is those investors can buy if you believe companies at six to ten, great growth companies, the googles, not just the twilios and facebooks and amazons at reasonable multiples. they're applying those same multiples to growth stage companies. it's created dislocation the private market takes about six to nine months to adjust to the public market. we're in the second inning of that we're seeing companies raise capital. venture capital in q1 was still strong, it's a much more cautious market where investors are paying a lot more taeks to really key underlying metrics, gross margin, overall -- should have mattered but in some cases in 2021 weren't as high on the list of things to focus on. >> jeff, quick last

guest: v3 is putting the ipo in hong kong.iness is doing well, and the last two years of the pandemic, we have seen shares fly in the market. definitely they are going ahead. haslinda: the ipo plan will go ahead. how soon will that happen? taha: maybe this summer. they're looking for what is the best time and they will go ahead. haslinda: talk to us about the longer-term plans and how is that being impacted by commodity prices? taha: from day one we created a brand that appealed to a large market globally. when you have this kind of niche market, you are not affected by small points that can happen today, and that is why we are very happy to have this plan, we are listing $100 million to make sure our brand is evolving all over the globe. rishaad: how is business overall? taha: the business is not too bad. i was looking at this during the pandemic, and we had a great business in e-commerce because we focused on e-commerce, and we are more short today than yesterday, the two years of the pandemic made us make a great structure

ipo. it says it's cooperating with the agency chinese authorities opened an investigation into didi four days after its billion-dollar ipo and forced domestic stores to remove all of its core services dom, word of the s.e.c. probe sending didi shares sliding in after hours trading. >>> back to the market and decision day for the fed wrapping up with a 2:00 p.m. eastern time interest rate decision and a press conference with jay powell after that with all but certain a 50 basis point hike the fed hasn't hiked by half a point in 22 years and it hasn't raised rates of back-to-back meetings going all the way back to 2006. joining me now is former federal chair and fed chair roger ferguson and a cnbc krcontribut. maybe this is a foregone conclusion we know it's going to be 50 basis the points what exactly would powell say that would upset the apple cart either way bullishly or bearishly for the markets? >> i think there are a couple of things that could come out that might upset the market one

emily: how soon could an ipo happen? >> i cannot really say.me to go forward on that area, but as we said before, we are preparing to make that happen. emily: how are you evaluating this guitar, and could that delay or influence your plans? >> obviously, market timing dictates a lot of things. emily: let's talk about another part of the arm business, and that his arm china. you and i have talked about some of the turmoil you have seen in that particular part of the business. are you fully in control of the joint venture right now? how is it doing financially, and what can you tell us about its future? >> it seems that just 90 days ago you and i were talking about that. i'm happy to say that chapter is now behind us. we have resolved the issue. we have a new management structure in place. we worked with the board of directors, local stakeholders, chinese government. the new management is in place and we are operating normally. we have been able to complete customer contracts, sign licenses, so we do have operational control back under the leader

that bodes well for reopening of the ipo market sometime later this year.te companies, venture funded companies assume this year is a write off. every company i am involved with, saying assume you should not be able to raise a venture round this year. i think this could last for quite a while. it is a risk off trade as interest rates take up. public market and private market investors are prioritizing profitability overgrowth. it makes it hard for high-growth companies to raise money. they are all pulling back as a result. sorry to be a bearer of bad news on a friday afternoon. emily: there is one person out there that seem to have no trouble raising money, elon musk, lining up a large amount of investors to take over twitter, he was talking about his plans to change the company, there are still a lot of unknowns. you are a prolific twitter, what you think about elon musk owning the company? >> i was surprise, i tweeted as much, i am surprise the deal got done, although is not gotten done yet. as a twitter user i'm excited to see what elon's product insight

when you say ipos are not happening.ght now. >> it's not a great time to become public right now. >> it's not a great time, in particular >> if you are a growth company however, you and i have been students of the capital markets for a long time. you know with everything the world has thrown at us, it's been very rare we have gone more than a few quarters with the ipo market you know really very, very tight and so you know, this is a moment in time there certainly are businesses that can and will go public. i think the wave of the value expectation for young growth companies has to be reset and i think in that period of time so, definitely capital markets activity will be more constrained for a period we are still reaping the benefit of a lot of mna activity, you know, last year, at the same point, certainly in the first quarter and this wouldn't be surprising, because when things are volatile, confidence decreases, that affects mna activity we are seeing a lot of engagement as people are trying to think how to engage th

but the ipo will test investor appetite. despite being cut by appetite.ets have been very volatile and other recent ipos have given very poor returns. then there are questions about whether lic's reliance on agents is still relevant when new are going digital. fin still relevant when new are going digital-— still relevant when new are going digital. on the margin front it will _ going digital. on the margin front it will be _ going digital. on the margin front it will be hard - going digital. on the margin front it will be hard for - going digital. on the margin front it will be hard for lic. front it will be hard for lic to compete if they continue to stay _ to compete if they continue to stay with _ to compete if they continue to stay with the distributor modeh _ stay with the distributor model. so they will have to kind — model. so they will have to kind of— model. so they will have to kind of really innovate as a company _ kind of really innovate as a company and become more relevant _ company and become more relevant for what the insurance market — re

didi's had fallen 85% since last summer's ipo.hite house is boosting support for quantum computing as china pours billions into the next generation technology. president biden signing several tech focused directives. one would require them to adopt new standards against the threat of code cracking from quantum computers. coming up, lift shares taking a beating. i speak to the lyft president, getting his reaction to the market and what's next. that's coming up. this is bloomberg. ♪ emily: welcome back to bloomberg technology. let's get back to earnings. lyft shares tumbling after providing a second -- disappointing second-quarter outlook. the ridesharing company planning to spend more to attract drivers on the road ahead. the stock falling as much as 29% , its steepest ever drop in a single session. i want to bring in the lyft president john zimmer. investors are spooked here. what is your response to their response? john: we don't like it. we take it seriously. we believe we are doing the right things for the long-term shareholder

what was that ipo price? $78 on the 9th of november you had it expire, and ford was ready to go with $8 million. that's only 8 of 102 million shares the fact that they were so willing to hit a bid immediately on a saturday is odd it is done the shares have been distributed. >> it is 8:00. >> yeah. you are unhappy this morning, jim, with the stock trading below 23 and 24. there was another seller i don't know who it was. i don't know if you have heard any number. >> i tried. >> any number of large firms hedge funds, d 1 who has a lot of privates. again, don't know who the seller was. the saturday offering was strange. i don't know if you have seen that >> i have never seen that. ford will be using the money for lithium, for nickel deals, and for battery jvs. they did make 150% on it but there was a hope it could have been billions here. maybe that can still happen. when you look at this group, it is just pathetic they are pathetic. >> do you have any sense as to ford's future plans? i mean, they hit $8 million

potential ipo amid securities.hearing from rasputin group preparing to lift the unit but it has not happened yet. they talk about improving competitiveness, mobility, and autonomy of the business and they believe by listing shares publicly they can have a more autonomous perspective and fund the various growth and financing strategies. no date set yet but we heard previously that the financial ecosystem would be a major driver given that potential ipo. so this will potentially provide relief to the debt burden. the mobile unit remains lost. capex staying high. so the leasing of the security and banking business could provide some self reliance away from broader debt markets. the ceo of credit suisse says he does not expect a recession. he is concerned he has a clear mandate from the board to continue in his position. >> with the high inflation shocks we have seen, people are somewhat insecure. but we do not think there will be a recession. there will be a slowdown. [indiscernible] if you look at certain markets, eq

didi had fallen 85% since last summer's ipo. white house is boosting support for quantum computing as china pours billions into the next generation technology. president biden signing directives wednesday. one would retire the country's most vulnerable ip systems to adopt new standards against the threat of code cracking of quantum computers. coming up, lift shares taking a beating, i really be speaking to john zimmer, getting his stake in the market reaction and what is next. this is bloomberg. ♪ emily: welcome back. let's get back to earnings. lyft shares tumbling after providing a disappointing second-quarter outlook as revenue in the first quarter beat estimates. the company planning to spend more to attract drivers. the stocks falling 29%. it steepest drop in a single session. i want to bring in john zimmer for his take on this. clearly investors are spooked. what is your response? john: it matters to us, the response, we don't like it, we take it seriously, and we believe we are doing the right thing for the long-term shar

jp morgan, morgan stanley for that potential trading unit ipo. the valuations sky high right now in that particular part of the world. tom: cold elon musk be involved? jonathan: i'm not sure about that. would you let's talk about the twitter deal? lisa: of course he doesn't. [laughter] tom: let's talk about what matters, which is brent crude $115. an hour ago, even with a good tape and the data check we need to do, brent front and center. jonathan: futures up 1.5% come of the nasdaq up by 2%. that tells you about the lack of confidence after we have been beaten up in this market so badly over the last few months. you'd's higher by three basis points. that inverse correlation is back. yields bouncing by three basis points. 3.20% the high two months ago. tom: now joining us, and this is a really important conversation for you on radio and television, with 30 plus years of brown brothers harriman, synthesizes and all of the eco-bible into the markets -- eco-babble into the markets. all of the fed speakers, how do you tell them to calm down about inf

plus global under investigation adding to scrutiny of its ipo at home. rishaad: of course and read at the top of the agenda today meeting taking place at the federal open market fomc pretty much at the moment had signaled and almost amended a 50 basis point cut. the question will be what is the linguistics behind all of this? what is the verbiage, what is jay powell going to say if he gets more hawkish, bets are off in terms of currency. we'll talk about it, but overall, under pressure for the three-year aussie bonds losing to the upside. the yield just about 11 basis points. dropping 3.1% there. the two-year, 2.84% at the moment. the yield on the aussie. it's really all down to what the fed does next. and with the aussie, the rba did yesterday. let's have a look at what else is happening. haslinda: markets around the world gearing up for an aggressive fed rate hike. let's get more analysis from our global economics and policy editor kathleen hays. kathleen, a 50 basis point hike now expected. what about a 75 basis point hike into the future? kathleen: t

ckn miteba ia nu >>> beyond meat tumbling below the ipo price after posting that wider-than-expected loss in a revenue miss, facing stiffer competition. this is what the ceo, ethan brown, had to say about his strategy on the call >> i know there's a lot of hand waving and a little bit of wringing of the hands regarding some of our quarterly results, but what we're doing is managing this business to create the longest-term growth opportunity. and these are growth opportunities that i don't think investors want us to turn down it's just going to be noise in the near term. ism comfortable with that. i think the market will catch up with that. but we feel good about where we are and, you know, on pricing we're not going to deviate from that >> no. no >> yeah. >> barclays comes out with a piece. as things go down, other things are becoming more -- >> intellectually rigorous >> lenny bruce don't jerk with the cash, downgrade the ew by barclays domestic and international food sales climbed 8% i had cisco on this week and those numbers are stratospheric. they're going up so much tony shu wou

that was more than a decade after we started, i was accused of waiting too long and having missed the ipodow. i would have never imagined what transpired over the course of 2020. i think looking back, it worked out really well for everyone. david: you went public in december of 2020. after the pandemic. but you obviously -- probably you had to lay off some people during that period of time. is that right? brian: like many people, i came back from the holidays in 2019 thinking my life was going to go in one direction, not realizing our entire world was about to get rocked. i felt like the captain of a ship and a torpedo hit the side. we lost 80% of our business. we were doing tens of billions of dollars a year in bookings. to suddenly go from highflying to people predicting the end of airbnb, there were multiple mainstream journalists predicting we were going to go out of business. it was almost like our business flashed before our eyes, and i ended up having to confront this reality that i realized we were going to lose half of our business. it's like running into a burning house. if you

the broader sell-off i believe that's a new record low and it is trading at nearly half of its $45 ipo price. let's bring in emil michael. what do you think? is this a ceo trying to get ahead of what's going on in the markets or trying to catch up? >> it is definitely frying to catch up if you look at last month, go puff, meta and robinhood all did layoffs or hiring freezes in anticipating of this market. this notion of adjusted ebitda being a new thank that's not in favor isn't right. i think the market has been telling us for four months now that they are going to be more focused on free cash flow, profits, and profitable growth. >> jordache has already had two years of free cash flow profitability. you bring up go pop and robinhood. they use these different metrics as well. could you give uber's ceo credit for coming out and saying we are not going to use it anymore? i haven't heard it from other companies that use it? >> yeah. i think it's the smart to do i think it was smart in the beginning. it is smart now. because ultimately that's how companies are going be the valued in lot r

that's what happens, i guess, when you see the ipo index, ark invest flagship fund, you see the cloudsee the spac index, all down from their highs. that's where the biggest excesses were. they have been largely drained away the big question now, the battle front has moved to what does it mean for the broader list of stocks, for the actual fundamental based parts of the market and whether in fact earnings forecasts have to come in and whether the fed will in fact tighten financial conditions to a point where the overall market has a little more trouble. so i agree the froth part of this cycle is largely been unwound, but now it's kind of a question of what happens next with the rest of it >> look at that yo yo chart intraday of the nasdaq which just went negative again, fairly positive it's been all over the map today. speaking of stock winners back in 2021 append 2020, chegg pluchlting after they put their outlook and sayingcurrent conditions are prompting consumers to prioritize earning over learning. overall the past month has been tough for some of the traditional pandemic high-flye

david: when you went public in december of 2020, you priced the ipo or the underwriters did at half the price that it ultimately ended up that day, so some people might say you left $23 billion or $24 billion at the table. were you thinking it was mispriced or were you ok with that? brian: we came back from 2019 with a $30 billion, $40 billion valuation. at the depth of the pandemic, our valuation was $18 billion. we probably would have struggled to raise money. we had warrants. to be able to be a $100 billion company seven months after that low point, it was really hard to imagine any of that was going to happen. part of the reason the stock popped was i believe we had hundreds of thousands of people in retail trying to buy our stock, so i don't feel bad. i never took the highest price in any around. we totally could have priced higher, but it was pretty hard at the time to foresee that this was going to be a company that this was going to reach a valuation like that. david: as we talked, you just reported earnings for last quarter, last year. they were record earnings, record revenues

he would have gotten had the ipo market stayed strong not saying it's wrong but causing pressure love that you called you're a trooper, and one day that company will come back because it's great right now doesn't have enough clients coming public. if powell can slay these seven d dragons, making money in stock market will come easy. day it happens, why didn't i listen to cramer don't sell everything. but telling you could be more terrible days. on "mad money" tonight, company that used to be great high flier, new ceo at helm guess what, chicken wings are down huge. is it too late to invest in emerging lithium stocks? we know elon musk said they're great place to be. my take. and is there place for up profitable tech company in your portfolio? i'm not sure but check with the top brass anyway stay with cramer >> announcer: don't miss a second of "mad money," follow @jimcramer on twitter have a question? tweet cramer, hashtag #madtweets send an e-mail to madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss something? head to madmoney.cnbc.com. [music - cover of blondie's “dreaming”

we're down over 70% since the ipo.s oversold as it is, a lot of the bad news is priced into this stock. i'd be looking for some sort of indication that the lows have been set >> taypically, what does that take, a number of days or rebound in the stock >> i would like to see a downtrend reversal of the stock. they say the lows are for sure in again, if we're so oversold when earnings numbers come out tomorrow, things would really have to be very bad for this stock, i think, to take a whole other leg lower because so much is priced into this. there's been seven street downgrades on this stock just last month a lot has been priced in fundamentally and technically it's too early to say that the lows are in. one is see some indication that you're getting a change in the chart. >> your thoughts on exxonmobil down today, but obviously the beneficiary this year of rising energy markets. >> energy is where it's at at this point in time it continues to be the best performing sector along with basic materials and these are areas

board, the american swiss foundation celebrating its 77th anniversary at the nasdaq, celebrating an ipoepgen t. >> there's been very few biotech and very few innovations and what you're hoping is that the ones from 2020, 2021 start seeing them being bought by glaxo looking for growth this is not the market for them. it might be the market for the big drug companies -- >> by the way, we'll keep our eye on, for example, j&j on some of these new restrictions out of washington. >> there's an opportunity. j&j aaa balance sheet. they're going to split into three. they had a problem with their vaccine. that's the kind of company that i want to buy today. i want to buy that. >> pristine balance sheet. >> i want to buy j&j let it come in, buy it that's what you buy. that's a great american company that makes things, do stuff, gives you a great dividend and doesn't sell at an unreasonable price. it's not heaard. you say the chart looks bad. it gives you a bigger yield, so to speak but they're splitting into three companies. the split is going quite well. all three divisions are doing well and tha