leslie picker joining us with more on what we can expect. >> the official title for today's hearing iswo who wins and loses when short sellers, social media, and retailers collide. calling key players from all aspects of the january volatility that saw shares of gamestop climb to the stratosphere only to plummet shortly thereafter keith gill,roaring kitty and a ex exp expli explicit alias, he's presumably there as the voice of the little guy. reddit ceo steve huffman will tell congress that bots, foreign agents, nor bad actors played a quote significant role on the sub reddit group wall street bets that became the destination for really pumping up gamestop now, vlad tenev, the ceo of robinhood, the commission free brokerage of choice for younger retail investors, plans to assess the necessity to place restrictions on buying shares of gamestop as a necessity. this took place in late january as the volatility boosted the collateral requirements with its clearinghouse over the two days it takes for trades to settle. robinhood didn't have the cash on hand at the time to meet those deposits

leslie picker is at the commodity desk. >> that's right. rising against today with brent closing in on $60 a barrel wti at its highest level in more than a year. it's the third straight day of notable gains with support today coming from a surprise drawdown in u.s. inventories according to the api. oil climb this week is boosting the energy sector with the top performer today let be gains in the big oils like diamond-backed eog and apache the xop is already up 18% so far in 2021. last i checked, it's only early february tyler for? >>> it's time now for today's power movers gw pharma soaring, jazz pharmaceuticals buying the company. gw focused on medical uses for cannabis the pot stocks as a group continue their surge till ray, for example, up 300% in three months. next up is vaxar, plummeting stock as their test with inconclusive results >>> kasaba sciences, the stock soared yet on positive data for the alzheimer's treatment. look at that, up 51%, the stock up -- can i read that right? 1100% up this year so far. >>> the marks are moving hig

leslie picker, kate kelly, appreciate it. talk again soon. >>> the s&p sectors with the wall good for 16 led by top we talked about just a few moments ago, energy back after this. trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity. good morning! the four way is a destination place. right here, between these walls, is a lot of history. i am black. beautiful. i must be respected. black lawyers, doctors, educators, martin luther king, b.b. king, queen of soul aretha franklin. you're sitting in the place where giants ate. the four way, as a restaurant, meant so much to this neighborhood and we wanted to continue that. to have a place where you have dignity and belong, that's the legacy of the four way. ♪ the holidays weren't exactly smooth sledding this year, eh santa? no, but we came through smelling of mistletoe. the now platform lets us identify problems before they became problems. if only it could identify where my ball went. this yo

leslie picker, great to have you on thanks for joining us. >>> a little sarcasm just a touch take care. >>> let's turn now to the broader markets. we are seeing dow futures up 212 points the market melt up at least in the states simply continues. joining us now is global head of fundamental equities and portfolio manager of emerging markets equities at roboco fabiana, thank you for joining us central banks and fiscal stimulus, they're on their way banks remain accommodative is there any reason to believe the equity markets, others like the u.k. will not simply continue to go higher? >> brian, good morning we still like global equities. it is a varied asset class, but you have to watch out where you put your money there are some markets out there that have done very well and probably are valued to perfection the u.s. has kept on making new highs but other markets, other regions have not look at europe it's not even back to where it was before the pandemic. look at china, not even back to 2007 and just above 2007 levels. so i think there is sti

with gamestop and some other names. >> yeah, risk management is always evolving there for sure leslie pickerry much for that story. we appreciate it. >>> to the broader markets now, and what we can expect following a wild week for some of those stocks and overall for the markets. joining me now is jill garvey, huntington national bank, and matthew, thank you so much for being here jill, we'll start with you has anything you have seen with the volatility in short squeeze stocks really changed the overall thesis for why investors should still be invested in the market right now >> good morning, dom it's great to see you. well, first of all, we think that stocks will continue to have a great year. since november 9th, when the pfizer vaccine was announced, we really have seen buying all over in the equity markets. and i think what yesterday taught us is that the stock market doesn't go in a straight line we're utilizing that volatility as an opportunity to buy in. we've been positioning for a post pandemic environment, so we really have been putting into small caps, mid caps, emerging markets, a

leslie picker, thank you. >>> another investment firm delivering some surprising numbers.oft bank turning an $11 billion profit, helped largely by doordash maybe i should call them golden egg? >> that's right. the golden egg comeback? less than a year ago, soft bank posted its wos financial results every. last night a different analogy here you see it a golden goose laying golden eggs, each titled soft bank's biggest and most profitable investments doordash has earned the vision fund more than $8 billion in paper gains. today the delivery app announcing the acquisition the robotic start-up, chow bottics open door, lemonade and faultics among other holdings the fund criticized on rework ahead of its implosion now soft bank reported an $11 billion net profit that, guys, led shares to their highest level since its.com peak decades ago. back then, massa san had taken stakes worth very little when you think about it in alibaba and yahoo japan that would turn out to be hugely lucrative it was also right before he nearly went bankruptcy after the internet burst it shows you that

let's get right now to leslie picker with more leslie, what are you looking at? >> reporter: hey, brian. the regulators paying attention, paying close attention, they say, to what's going on in the silver markets the commodity futures trading commission acting chairman roston benham releasing a statement that the cftc is closely monitoring recent activity in the silver markets the commission is communicating with fellow regulators, the exchanges and stakeholders to address any potential threats to the integrity of the derivatives markets for silver and remains vigilant in surveilling these markets for fraud and manipulation so this is the first we've heard from the cftc since we scaled that big move higher in silver interesting that they are now on alert for what's going on, brian. >> wow leslie picker, big news there. dan nathan, i'm going right to you. your take on where this all may go >> yeah. i don't think it goes much further. i mean, if you look at the fact that, you know, this gamestop traded as high as $500, closed friday at $325 today closed $225, down

bring in leslie picker and i don't know how that additional capital raise is viewed at this point. >> yeah, that's the key question, melissa. robinhood and its advisers they're all grappling with what to do in terms of ipo moving forward. the company has several class action lawsuits. congressional hearings hoards of customers who are fed up by the recent trading restrictions but robinhood also has record app downloads and a need for capital to meet those regulatory requirements amid volatility in certain pockets of the market and that, of course, is despite having raised more than three billion in just the last few days. so that, of course, brings us to the ipo. i've been told it's been deprioritized, as robinhood really fights fires on a multitude of fronts. company wasn't close to debuting anyway no official ipo date had been set. this recent crisis though and this recent turn of events could affect a few things. number one, valuation. reports suggested that robinhood was targeting about $20 billion for a price tag in the deal. that figure could move up and down depending how recen

and this is the black clover health that is back down again after a short seller health, and leslie pickering with this and the broader push. leslie >> yes, clover published a long response to that short seller report rife with homonym attacks and sweeping inaccuracies and gross mischaracterizations and among the key findings of the report by short seller hindenberg research that clover is under active investigation by the justice department under a variety of issues that was not disclosed to shareholders until that report. that report took aim at the due diligence chops, and clover acknowledging that it has received a request for information from the doj but not in with subpoenas or with warrant of disclosure. the company did note it received a disclosure from the s.e.c. yesterday. hindenberg tweeting that it is preparing a response to clover's response, but we are starting to see a trend here. the short sellers are increasingly targeting the public spacs and we saw it with muddy waters and with hindenberg and nicola before that and record amount of capital has been raised by these special p

leslie picker has a look at why retail investors might be paying more attention to these reports thanr: retail traders have been searching out clues for where the big guys are putting their monies maybe they are seeking out vulnerabilities they can profit from an example, game stop. it is paernd on the long side, too. if you remember the silver squeeze. others were urged not to follow suit because hedge funds were long a silver etf and could benefit. within the next 90 minutes or so we will see the bulk of filings that shows hedge fund longs, puts, and calls as of the end of december after witnessing what happened last month it is likely many funds which changed their positions in the six weeks since but some maybe not. >> leslie, thanks. >>> steve weiss as we all know, they are backward looking. do you buy into the idea that we will see retail traders fishing around for other squeeze positions? we tend to get more long positions in the 13fs than short positions. >> they don't disclose short positions. they do disclose long put positions. so if they are short through that way -- look,

leslie picker, hi. >> spot silver is surging, a byproduct of the recent push on reddit last week theushed up the ishares ticker, they could force the perform of more silver to meet the demands. there's an element of trying to bring down big banked, now, in reading through the reddit trace, did not some, some in believe who you pushing this trade. now, there's no evidence now exactly who is better hind the silver surge most people on reddit use an alias, but several hedge funds certainly suffered from last week's squeeze and the week before as well melvin capital down 53% for the month. citadel provided a cash infusion about a week ago citadel's flagship fund down about 3% for the month other funds also nursing some significant losses for the month of january tyler? >> what is the outlook for regulation, not ned of hedge funds. what does your spiedy sense tell you? >> i think that's the number one question i get from a lot of people, you know, where is the s.e.c. on this at this point it's unclear so far they have put out two statements, and they're making sure that the little guy doe

seventy-five-dollar credit when you post your first job at indeed.com/groomer time for a cnbc news update with leslie pickerhello wilf. here's what's happening at this hour, everyone former president trump will not testify during his impeachment trial next week. a lauer for trump tells nbc news the democratic's request for testimony is a, quote, publicity stunt. trump has resigned from the screen actor's guild after they threatened to expel him after the capitol hill riot. he says the union has done nothing for him but he is proud of his roles in home alone 2 and zoolander. samsung is building a new plant in texas, saying it will create 1,800 new jobs and the house of representatives is intent on stripping marjorie taylor greene of her committee assignments. earlier today said she apologized for some things see said in the past but not her conspiracy theories. >>> 15 years, that's how long it has take ten xlf financial to near its all-time high mike santoli looking at the long road back for the sector and whether financials can continue to head higher. >>> plus we are counting you down to the january jobs r

kate rooney and leslie picker have the details kate, let's start with you >> hey there, morgan a coupleferent testimonies out. i want to start with robin hood's ceo he says that robin hood did not help hedge funds to customers' detriment. we are still looking through ten ev's testimony we also got one from a reddit trader keith gill. he says the idea he used social media to promote gamestop stock was preposterous his channel he says was for educational purposes only and also says he is an individual investor not a hedge fund. he says his investment in gamestop and posts on social media were entirely his own and he also still maintains gamestop is under valued. he says the company is still dramatically under valued by the market morgan, back to you. >> thank you leslie want to get your reaction or your thoughts on what we're getting here in terms of information. >> so this is the prepared testimony from melvin capital's gabe plotkin who will be appearing tomorrow tackles a few issues in this prepared testimony. number one the idea of short selling. he will say that absolutely none of mel

bob pisani is here along with kate rooney, julia boorstin and leslie picker. slie, i'm going to begin with you. we're going to learn a lot today about short selling. we will learn about short squeezes and we're also going to learn how the powerful firm citadel executes its trades among other things >> it's rare to hear from some of these voices, namely ken griffin of citadel and dave plotkin, both of whom have been surrounding this controversy is the idea that gamestop and other names have been able to be shorted at over 100% of their float size a lot of people are wondering how that's possible and the short squeezes and short selling can contribute to some of the volatility that we've seen you can probably expect questioning on that front as well as around the transparency involved in disclosing certain short positions whether there needs to be more transparency in order to properly assess the risk both from the company side and the market side. interestingly, keith gill will point to this and say they need to start the discussion on this issue of short sellin

silver surge is the latest example of an online phenomenon sweeping wall street cnbc's leslie picker leslie why is silver the hot name now >> that's a good question.owingo the precious metal is targeted metal of the social media coordinated trade following that of game stop and amc last week. in addition to the commodity itself, a fund that tracks silver known by the ticker slp, plus silver miners all rallying today. and some speculators are turning to the physical metal. it's been wiped out from retailers. one ceo telling cnbc he can barely keep bars and coins stocked. >> we typically have about a thousand silver products in inventory available for purchase we're getting so cleaned out right now that we're actually, last i checked, down to 80 items in stock, a number i've never seen before and never thought we would ever see. >> all that glitters is not -- well, silver many on reddit's wall street bets forum behind the surge in game stop came out against the trade today, alleging it's hedge funds masking as retail investors who are the ones pushing silver at this time, no one has pub

silver surge is the latest example of the online phenomenon sweeping wall street cnbc's leslie picker leslie, why owe why is silver the hottest name now. >> that's the good question, shep the precious metal is the target of another social media coordinated trade following of that gamestop and amc last week. in addition to the commodity itself, a fund tracking silver known by the ticker slv plus silver miners all rallying today. and some speck larts are turning to the metal one ceo temg cnbc he can barely keep bars and coins stocked. >> we typically have about a thousand silver products in inventory for purchase fch we are getting so cleaned out right now that we are -- last i checked down to 80 items in stock. which is a number i never naught we would ever see and i've never seen before. >> of course all that glitters is not, well, silver many on reddit's wall street bets forum helm alleging it's hedge funds masks as retail investors pushing vvr silver at this time no one publicly claimed to be the master mind behind the so-called silver squeeze. but regulators and lawmakers remain on

that's something we have been following this morning we are helped by leslie picker with more on thatyeah. exactly. spot silver david is surging the price jumping to $30 the highest level since 2013 now it's a byproduct of this latest push on reddit to rev up assets and try to force a technical squeeze in those assets the idea to target silver the middle of last week with the thought being if they push up the silver trust they can force the etf to procure more silver to meet the demand there is also an element of in these forms of trying to bring down the big banks who are hedged against their physical holdings now, slv is surging as are silver mining stocks like core mining and pan-american silver today. a catchphrase on reddit is buy physical now, this sentiment caused a supply squeeze over the weekend. retail sites were bombarded with orders for physical bars and coins and had to halt orders yesterday. this morning we spoke with mike whitmire, the ceo of jm bullion, who said that he almost -- or he sold almost 1 million ounces of silver this weekend. a typical weekend he would sell

leslie picker has more on that story. les. >> hi, court there's really a spac selloff across the board today look at shares of the cnbc stock index down sharply today churchill capital. among the biggest decliner after announcing a long anticipated merger with lucid motors, the tesla competitor but it's not the only spac feeling the heat today northern genesis down sharply as is ark-like clean transition corp both of those announced mergers in the ev industry there's certainly a reckoning going on today but whether this is peak spac, that remains to be seen more than $130 billion in capital has been raised through these vehicles in the last year or so and sources say the pipeline is as full as it's ever been so i'm not quite sure we're at the peak yet, but spacs are starting to show shares up 500% before last night's deal announcement. so it's not that surprising that investors are taking this opportunity to crystallize some of those gains the way the deal is structured also earning it some skeptics. there's quite a bit o

i'm carl quintanilla with david faber and leslie picker.s a fine read, carl we take that 76.2 mid-month three -- excuse me, the 76.2 mid-month read and toss it and it now becomes 76.8. 7 76.8 is the february final read. it's not bad to put it in perspective, the final january read was 79.0. some of the other embedded issues here, some are quite important. if you look at current conditions, it, basically, is lateral from our mid-month, 86.2 and remains at 86.2. 69.8 is expectations then it got modified that was the mid-month now 70.7 a nice improvement there one-year inflation 3.3, okay? 3.3 is the highest level of one-year inflation in this series since august of 2012 when it was 3.6 if we look at 2.7, which is the five to ten-year inflation, yes, the same as the mid-month read the final read but you have to go -- and there is a lot of 2.7s you have to go back to january of 2015 to find a 2.8. the point of this is, is that we want to watch every possible way to measure inflation why? look at ten-year and 30-year bond rates across the world.

leslie picker's got that story for us. >> reporter: those hedge funds aren't just looking to use this source investment opportunities or do due diligence on names as they have done for years and decades now, increasingly, they are using this data as defense, as a way of really protecting their portfolios >> these social media conversations, this attention that companies are getting, has potential to be risk it can be risk to the upside, risk to the downside, but i think everyone is roecognizing that it is something they knead to at least start to understand and start to take into account when they are making those investment decisions. >> it was found an increase in mentions on social media was a leading indicator for the gamestop pop earlier this week think nim's cofounder said he has seen a huge outreach from current and prospective clients looking to defend their portfolios the challenge, not all content on the internet is clear-cut a tweet of ice cream is said to be partly responsible for the surge in gamestop this week. it would take a very smart algorithm or human, really, to pi

leslie picker has the story. they can't decipher diamond hands? is that not clear?s now, maybe not a month ago. to your point, it's becoming increasingly difficult to really understand the lingo, the emojis, the pictures, all these other things that are moving stuff around the founder said last week he has a data team monitoring these message boards. they have seen a huge tick up in demand from investors. they have done that for years, really decades increasingly they're using it as a defense to protect the portfolios think data, investors found an increase in mentions in social media was indeed a leading indicator. zen says he's seen a huge uptick looking for help for examples that tweet of ice cream is said to responsible for the surge this week. it will take a very smart ago rhythm, people are working on it, to pick up on all the various nuances. >> it does seem that hedge funds may be looking to hire humans -- can you imagine -- to go through the boards and interpret some of it not clear-cut at all. >> it's not clear-cut and it changes by the day what is fascina

let's bring in leslie picker to talk about what she saw and heard particularly from the folks from your beat, which is really the large managed money of hedge funds and we had mr. griffin, we talked about him gabe plotkin of melvin capital as well. >> i'm actually surprised that plotkin did not get more questioning. i expected a bit more populism, and kind of looking at his role as a short seller. he did get some questions, however. he was asked whether or not he believes there should be more transparency and disclosure around short selling he kind of dodged that question noting that if those are the rules, he will abide by them they asked whether he had shorted a stock over 100%. he says he has not done that in the past, so some kind of rudimentary questions surrounding just the practice of short selling as a whole i think they were looking to get to the heart of whether there needed to be any kind of additional regulation on that front. surprisingly, there was no question or there hasn't been any question about the role of a short squeeze in volatilely, specifically, which is basicall

in congress brought together some of the power players behind the january trading frenzy leslie pickerwith more hi, leslie. >> good morning, joe here's what happened during that 5 1/2 hour hearing yesterday robinhood ceo vlad tenev received most of the attention with questions around restricting trading amid the volatility last month. ken griffin received his fair share of heat as well, asked to explain the various facets of off exchange trades that market makers like citadel play brokerages like robinhood for the privilege to execute melvin capital's gabe plotkin was largely asked about short selling reddit's ceo there were no nefarious actors, and keith gill about his case for gamestop perhaps the most revealing exchange of the testimony was this exchange showing how close robinhood really came to the brink. >> there were a series of steps that the robinhood securities team took to -- >> at that exact moment, did you have the liquidity for 3 billion, 5:11 a.m. >> at that moment we would not have been able to post the 3 billion in collateral. >> they're talking about january 28th ther

. >> leslie picker joins us right now with a look at what to expect, and leslie, it's a little surprisingo hear that from tom at peterffy, because he is not given to hyperbole. >> and he's someone in a position to know and if you look at a list of witnesses set to appear before the house financial services committee today, it may sound like the start of a badjoke, two hedge fund managers, a social media ceo, robinhood, and roaring kitty walk into a congressional hearing, but the heads have been called to discuss serious issues, issues of market fair ness, financial populism, complicated workings of market structure, potential manipulation mix that in with lawmakers and several hours worth of questioning, there's expected to be quite a few fireworks at the least the impetus fwas the late januay volatility in gamestop that drew attention to robinhood as well as the sub reddit group wall street bets where stock tips were shared, gamestop bulls, igniting this whole david and goliath narrative. each witness will defend his role in the gamestop frenzy. many will deflect to what they see as issu

leslie picker will have that story for us. >>> in the meantime, check out some of the reddit rally namesn 10%, now it's down 3%. blackberry off and gamestop up by 17% "squawk box" will be right back. >>> welcome back to "squawk box" this morning hedge funds are playing defense after "the game" stop squeeze by scrapping social media sites scrapping some as well leslie picker joins us with more on thisstrategy. what's going on here, leslie. >> yes, scraping and scrapping, andrew traditionally that practice is scraping social media sites to see how sentiment might impact stocks it's been used for sourcing investment opportunities, doing due diligence. over the past few months these types of data are being used increasingly for defense as a way of protecting portfolios >> these social media conversations, this attention that companies are getting has potential to be a risk, a risk to the up side, a risk to the down side but i think everyone is recognizing that's something they need to at least start to understand and at least start to take into account when they're making those investment de

. >>> a team of spacs are coming under scrutiny leslie picker has the details. >> we hadn't heard fromen tia since that report from hin denburg research was first disclosed yesterday morning. but now a response he says that yesterday's report was rife with personal attacks, anyone facts, and bluster that has been rebuked by the company. he goes on to say that while i may have my own views on short sellers, i do believe they should remain part of the capital markets and recognize the prospective that in some cases they can identify real anomalies. that is not the case here. he guess on to say he will let clover's long term goals and performance speak for themselves going forward. but certainly, the latest bit of news here in what's been just dueling arguments on both sides of the aisle on one hand you have got this hindenburg research which yesterday put out a report calling clover a broken business facing an active undisclosed d.o.j. investigation, and the research itself questioned call happen tia's due diligence in that report. now clover responded this morgue by saying the d.o.j. ma

i have no idea not to mention leslie picker, have there been inside sales at gamestop i mean, you had, two, whatever it was, and suddenly people had a windfall that they never could have imagined and they have been selling like crazy. >> from what i could - >> that's why gary - >> filed on that. >> right. >> so we know. >> gary gensler is the head of the s.e.c. leslie, i would kind of pay him a call or get their lawyers in because there is so many people who are thinking about what gamestop's doing david, gamestop may be doing something. there may be something material. but their silence to me has become deadly, frankly. >> they can just put out a statement that says we can't understand the activity in our stock. i don't know beyond that what you pointed out, they haven't decided to sell stock. people have different theories as to why they have chosen not to may have something to do with the gentleman i just mentioned as well. i am amazed we haven't seen more insider sales there. i don't know. >> well, adam aron, look, adam aron took advantage of the buy in amc look, these guys need t

i'm carl quintanilla with david faber and leslie picker. board walmart is not helping the dow and it's a story of rising rates, perhaps trimming some interest in high p.e. claims dow's down 173 we begin with the gamestop craze heading to washington. the ceos of robinhood, melvin capital and citadel to be grilled by lawmakers today. >> s.e.c. commissioner hester pierce joins the show. >> and continued misery ahead. a warning from the governor of texas as many still struggle for heat and hot water this afternoon days without power in that state >>> just a couple of hours from that hearing at house financial services where robinhood, citadel and melvin testify what we might hear this afternoon. hey, kate. >> we have gotten a few glimpses of what to expect at the gamestop hearing mostly through ceos prepared remarks. the heads of citadel, melvin capital, robinhood, reddit and the non-ceo today trader keith gill, who goes by roaring kitty. they have shared their statements in the past 24hours while they are addressing the gamestop rally, they ta

. >> leslie picker, thank you. >>> mike, it also shows the retail traders in part of their mission didn'twn the hedge fund world in january. they did take down maybe a few that was very short game stop. but when it comes to going up against that industry it is going to take a lot more. >> right it was always after oversimplified in aens sense almost madeup story line that that was a tarting of hedge gunds generally speaking some of the most heavily owned hedge fund stocks if you look at the concentration baskets are big growth stocks. they have done very well i think you would perhaps want to be short something against it so you could keep the huge winners on the books that's the thinking of hedge funds. it is not targeting stocks and running them into the ground it isset up for good stock selection because you have divergent valuations and a lot of macro stuff through flying lieu the market. >>> tesla may going a big bet on bitcoin, buying $1.5 billion worth of the cryptocurrency according to an s.e.c. filing. the company also saying it would accept bitcoin as payment for its products lo

i'm carl quintanilla with david faber and leslie picker. morning as we watch continued signs of relief in texas. yellen's push for stimulus and we are getting existing home sales. for that diana . >> existing home sales in january rose 0.6% to a seasonally adjusted annualized rate of 6.69 million units, up 23.7% year over year and the second highest sales pace since 2006 the supply continues to be the problem. 1.04 million homes for sale. that is a 1.9-month supply down 26% year over year, and that's pushing prices higher. median price of an existing home sold $303900, up 14.1% to an all-time high for january. things are selling differently depending on price points. home priced below $100,000 down 28%. million dollars homes sales up 77%. finally, the daes on market very fast, just 21 days to sell a home down from over 40 days one year ago carl, back to you. >> unbelievable picture in the middle of winter thank you. markets trying to get takeaways from yesterday's house financial services hearing about gamestop. joining us to talk more abou

thanks despite heavy losses by hedge funds, most firms ended january in the green our leslie picker hasunds are basically the tom brady of the investing world regardless of what team they play for, how many super bowls they have been to, their age, they just find a way to win under pressure this, of course, coming from a very sad chiefs fan this morning. but in all seriousness, that whole narrative of the little guy beating out the big guys in january over gamestop, well, it's gotten a little muddied in recent days. new data shows that hedge funds actually posted gains for the month. on average they were you were 0.9% the bigger funds fared even better with the asset weighted average indicating returns of 3.4% for the month hedge funds also bested the s&p 500 and a widely used bond index. but the disparities were very wide during the month. the winners won big. the losers faced very significant losses with the bottom down nearly 8% on average, the top up 11.6%. melvin capital the poster child of losses in the whole gamestop saga with 53% declines for january thanks to those bet against

leslie picker with the details.a chronically underperforming stock price. the group is composed and mccallum, and cora legion and 2010, which represent 9.5% of kohl's they are looking to shake up the board revealing nine nominees today. they are also urging kohl's to treatment line inventory and urging them to sell non-core real estate. kohl's said in a statement it rejects the quote investor group's attempt to seize control of the board and disrupt its momentum guys >> so, leslie, as one who has talked to michelle gas before of kohl's, this is not a bedding bath and beyond situation which these activist did have some success in and they have got a track record when it comes to helping that retailer. that was a struggling case kohl's has had interesting ideas that earned it a number of upgrades, which the company itself point to, including selfora in the stores. the partnership with amazon. the fact it is not in malls and a lot of analysts say it is primed to capture a lot of market share in malls. how tough of an a

leslie picker with the key metrics to watch in tilray's report >> tilray shares trading lower today inrter numbers expected in about ten minutes or so. here are the numbers that the street is expecting. that tilray needs to beat 15 cents per share in losses and $56 million in revenue the canadian cannabis company found itself at the center of a reddit frenzy just last week with shares doubling in two days before ultimately declining to prior levels in focus though for investors today will be more color about its merger with afria which is expected to close during the second quarter, guys >> thanks so much. we look forward to those numbers after the close. but the close is one minute and 50 seconds away. mike, what are the internals showing you? >> a little soft definitely improved over the course of the day but still more stocks down than up today. it has been another one of these consolidation days the average stock is definitely pulling back a little bit. take a look at energy though obviously a bright spot not just today but also this is on a month-to-date basis the stock up 18%. th

leslie picker joins us leslie. >> reporter: it happens four times a year quarterly today is the deadline investors to reveal their holdings through sec filings otherwise known as 13f. they aren't dated and they're limited to long calls and puts no short positions and reveals retail traders have been increasingly scoping out these filings for clues about where the so-called big guys are putting their money. perhaps some more intrepid traders are seeking out the vulnerabilities they can profit from that was the case with melvin capitol the end of last year when a reddit user posted about the puts on gamestop which turned into a notorious short squeeze. it's taken place when silver was trending on twitter. they urged others not to follow suit because too many hedge funds were long silver etfs and would benefit from that sweep. now today we'll see new filings that show funds holding at the end of december after witnessing what happened last month, it's likely that many funds have changed their positions. some, maybe not. guys >> so what do you think is going to be the other big surprise that

let's get to leslie picker who's got the details. ir s-1 this morning for a direct listing date tvd some really fascinating details in this filing they showed that revenue in 2020 increased. 6% over $1 billion in revenue. most of that stemming from revenue fees showing $332 million in net income they said they had 43 million retail users, 7,000 institutions on the cryptocurrency exchange other details about the transaction they will be debuting with two classes of stocks set to list on the nasdaq the filing has a bunch of kind of fun interesting aspects to it normally on the front page they'll say they're copying general counsel and others from the company. in this one they had a copy to toshi nakomoto the founder of bitcoin a letter from brian armstrong, the ceo of the company talking about economic freedom and what coin base can offer in people interested in cryptocurrency for those less well versed also, you know, they have some aspects to their risk factors. they mentioned that cryptocurrencies is highly volatile several times in

regulators are weighing in leslie picker, i know you're watching it. ready to go! ready to go! could be a move that -- and suddenly, you know what, you're going to be right sooner or later. finally they are i'm proud of them. >> reporter: it's funny you say that i thought exactly the same thing when i first was alerted to this story. quite the story, indeed. now the commodities leader weighing in. it is closely monitoring recent activity in the silver markets cftc goes on to say that it's communicating with fellow regulators, the exchanges and stakeholders to address any potential threats of the integrity of the derivatives markets. the reddit forums believe some nefarious group is pumping up silver on social media so far no one is pushing the idea, ets, silver miners. >> should have listened to those guys i'm kicking myself kicking myself, leslie we mentioned this has -- you know what, history never repeats itself obviously, not completely. gold went from $200 to 800 just like that. so i don't think any of the reddit -- probably reddit traders may nee

leslie picker joins us for more. that stock is down by 36%. >> reporter: that's right.d motors is making it official. why isn't the market cheering? they're disappointed in the way the merger is structured cciv has committed $2.5 billion. that's nearly 74% below the closing price of cciv yesterday making the new investment quite diluted to those who already owned the stock. while shares plummeted, they have gained significantly. they've received an onslaught of attention in recent months and they bid up the shares 500%. the company is led by peter rawlinson. with lucid, he's looking to build a luxury ev brand. the deck says tesla is, quote, innovative but not luxury. cciv is the fourth iteration of banker michael klein's series of spacs. the $24 billion merger, if approved, is expected to close in the second quarter when the ticker will convert from cciv to lcid, guys >> leslie, you've been watching a lot of these spacs and what does it tell us about the risks from the retail investors who are buying them? >> reporter: i think these public investments in private equity,

leslie picker joins us with more on that.stories front and center with what happened yesterday with clover. >> chamath palihapitiya who's credited with the idea of taking ipo candidates public via spac, he tweeted this about the process on wednesday spacs may be easy to raise but they are hard to execute and success isn't guaranteed the following day one of palihapitiya's recent spac deals became the subject of a short seller's report. as you mentioned, becky, hindenburg research calling clover health a broken business facing an active undisclosed doj investigation. the research questions palihapitiya's due diligence hindenburg usually takes short positions, it didn't with this specific instance. clover responding in a lengthy response which included their note saying that they have not received any civil investigative demands or subpoenas from the doj, but a request for information from the doj which it responded to voluntarily. the stock plummeted 12% yesterday anyway, and it's worth noting that cnbc has not independently v