that's katrina lake, chairperson and ceo of stitch fix.e i admired her work ethic and what she has bltui, and now it's really starting to pay off. "mad money" is back after the break. >>> next, the vaccine. from approval to your arm, how the roll-out will happen >>> plus, cannabis state of mind an exclusive look into jay-z's newest empire. >> the facts, the truth, the news with shepard smith, 7:00 eastern, cnbc. ♪ >>> the new wave of sizzling red hot ipos hitting the market, a one-two punch of doordash and airbnb well, maybe it's time to ring the register on another group that we've been featuring and praising, a group of red-hot stocks that have gotten a lot of love from speculators in this market i'm talking about the electric spacs. high-tech electric car start-ups that came public during reverse mergers with special purpose acquisition companies, spacs lately we've been watching the space closely buzz the electric vehicle space is on fire while i warned you away from some of them, i recommended a few that i thought were too good to ign

i had katrina lake on last night, a visionary people, women and men, who have gotten the box, the boxit is exciting i point it out because the downgrade of goldman doesn't mean anything, carl, to the people who are buying stitch fix. they don't care about goldman's price target, okay these people just like stitch fix. they don't care about valuation. they like the box that comes what has happened is the bifurcation, david, we have people, analysts who are doing things that are basically, i'm going to put it out there, less relevant than trade rooms. goldman versus reddit, david >> well, what you're describing is things that are reminiscent of the late '90s my experience there, of course, having reported on it very closely, every day, joe and i would sit across from each other on the old "squawk box" set and you would be a guest sometimes and there was the same thing you come out as an analyst at your own peril if you wanted to stick to valuation and say, listen, i can't recommend something at 100 times sales or 500 times forward earnings and it didn't matter until it did. but, by the

. >> i've always been a big fan of katrina lake i visited her at stitch fix. of people felt, carl, there is a 37% short position that who needs stitch fix if you're at home and not dressing up anymore to go to work the answer is millions of people and this was a phenomenon quarter. what it does say is that people like the process of trying to figure out what they want to wear david, they -- a lot of people are just trying to say, you know what, maybe i need athleisure, maybe get away with it, can i get away with it it is a remarkable quarter because people bet against her -- why it is ail gor ritalgorithmic, is inexpensive, it is a terrific way to figure out if you have no taste whatsoever or don't have time, and you want to wear expensive clothes, use stitch fix. >> no taste. >> great for people that have no taste. i'm not talking about the in taste you get from covid my daughter had no taste for three weeks with covid no taste this is no taste meaning you -- >> you wear horribly looking clothes? >> yes. >> you don't know what you're doing? >> yes >> like the