taking a stake in lordstown motors. melissa, back to you. >> i have a couple of questions. >> sure. >> fox con taking a stake in lordstown, does that jeopardize any of the other relationships it plight have with being contract manufacturer for other electric vehicles. you mentioned fisker so i don't know if you think there is a problem. >> i don't think it does. >> if there is a stake in a competitor. >> no, i don't think it does contract manufacturers are by their nature, when you look at somebody like magna, which builds a number of vehicles for a number of different automakers at its plant in europe, that is the way it is with contract manufacturers. you make the agreement with that company that you've got the final assembly plant, we need you to build a vehicle let's have a one-on-one relationship even if the vehicle being built may be competitive with another one where fox con has a relationship with a particular automaker. at the end of the day, if you are fox concon, you want them to come to you and use you as a

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. today's action coming as the social network hit pause on instagram kids its photo and video sharing option for children under the age of 13 why? well there's a wave of backlash that didn't just fizzle out its continued to increase. we now have 44 state attorneys general who have objected to this option fo

lordstown motors, 9%.ant to fox con which builds apple iphones and ipads. this ohio plant was where president trump visited after lordstown bought it from general motors. remember general motors was shutting it down in 2018. lordstown rescued the plant and jobs. lordstown is embattled being investigated by the sec for overstating orders. stuart: the plant is being bought by foxconn? susan: reportedly yes. stuart: doesn't foxconn make phones and gadgets as opposed to cars. susan: they assemble the phone and ipad. they don't make them. they were supposed to fund that 12 billion-dollar factory for flat screen televisions in wisconsin which never came to life. stuart: what will they use the factory for, lordstown. what will it be used for now? susan: electronics. you're right. away from cars. stuart: that is interesting stuff. netflix, what is with them? susan: record highs from them. not much in terms of news flow. just on the viral series called "squid games" which has been a lot of talk on social media abou

calling lordstown one of the less legitimate players in the space.ers this week to park at least 50 feet away from other vehicles this comes after gm recalled mover than 140,000 evs due to a risk of spontaneous battery combustion it seems like a problem. stephanie, what do you think the best way to play this. i know lordstown is a very tricky name. what do you make of cathie wood unloading some of tesla? >> lordstown is a mess, they might need to have more additional capital, the management is in flux. tesla is up 70% in the last year, the ev market is $802 billion, that's a 40% kegger i know she's in it, probably still overweight the name, but she's probably taking some profits, because she probably made a lot of money. they're growing above the market above 10%. they have good so aptiv is not cheer, but down 11% from its highs. i've been adding to that one >> quickly on tesla, and the ark selling, does this imply one of the ultimate bulls that had price targets into the many, many multiples, is taking profits. if they're taking profits, it should b

lordstown and fisker both down 3% to 6% bank of america downgrading the stocks today lordstown to underperform. fisker to neutral. we'll have more on ford's electric vehicle in a moment a large focus for investors has been these big captech names faang has dominated. maybe too dominant maybe time to shift the focus and look at the names that are the future of tech rather than today's staples. goldman sachs launched the future tech leaders equity etf they are focusing on smaller emerging tech companies. if it sounds familiar it's similar to ark investments which has a number of the forward-looking innovations. how will they differentiate themselves joining me is brook dane from goldman sachs asset management and the manager of the fund. good to have you here, brook let's start with theemphasis which is really on non-faang names. do you think this has become too dominant in most people's portfolios >> great to be back on the show, especially on such an xexciting day on goldman sachs with the launch of the future tech leaders equity etf so, yeah, we have this fundamental belief and we've been tal

they downgraded lordstown. the concern here is really the competitive pressures.lysts didn't seem to think that these companies would not be able to bring their products to market, but by the time to get there, there are going to be so many other options for investors out there. both of the stocks down by about 2% each. an upgrade to avis budget on the capacity to over earn. tom: a lot going on here. i really would do point out that an hour from now, key economic data. the silliest gkionakis -- the silliest cannot cuss -- vasil eios gkionakis joins us here. strong or weak dollar 12 months out? vasileios: well, this is indeed a very tough call. i inclination would be to say weaker dollar. in the near-term, there is loaded -- there is low visibility. we have the markets getting spooked about how deep or how prolonged that growth scare is going to be, if it is going to be something a bit more sinister, a bit more severe. if our central scenario here is that the activity data are going to start stabilizing, and potentially we are going to see some pickup in activity,

fis kerr is down about 10% and lordstown is down about 65%. lucid also declining since its spac debut in july the stock heading lower since then the big spike was when the spac acquisition was announced. called it the tesla/ferrari of ev auto maker. and john murphy from bank of america is with us now john, welcome. >> thanks, kelly thanks for having me >> lucid hasn't delivered any cars they had about 10,000 pre-orders from what i read the most expensive version they make has a range of like 500 miles on one charge is that right? >> that's right. that's one of the key metrics is the miles per kilowatt hour. it's one of the things it brings to the table it's sort of a new view of how you measure efficiency and productivity of the battery but also the power train so, that 500-mile range serve a testament to them being able to put up 4 1/2 to 5 miles per kilowatt hour. everybody else is about 3 miles per kilowatt hour or less. not only is it a high-priced vehicle but it is a technologically advanced vehicle. >> we've seen a lot of hype in the ev

tesla, fisker, lordstown, all part of that sector that continue to build and grow. ev makers also in drive mode right now. xpeng seeing the biggest gains, moving higher by more than 5.5%. >>> well, the national worker shortage continues to take a toll on businesses from coast to coast, but help is on the horizon for hiring managers. with extended unemployment benefits now expired, many companies are ramping up incentives to attract applicants. but with the most recent jobs report falling flat, will incentives be enough? jeff flock joins me from broadview, illinois, with one company looking to get its hiring game moving. jeff. >> reporter: very good question, cheryl. i come to you from the warehouse of a company if called mini moves based here outside chicago but has 125 locations nationwide. as you can tell, moving, as perhaps you know, it's a very labor intensive business. machines don't wrap the couches up and don't unload the trucks. they've had a real problem finding people with these unemployment benefits extended in the way they are. are you hopeful, john, tha

saw it in lordstown. >> alb. >> yeah, another one nikola. >> new high today. >> that says that there is a lot going on in this particular space and it's a matter of i think, having to spread across multiple aspects of the ev world. so that's kind of what i'm doing right now. >> yeah. >> i like the battery side of it we were talking about right now. and i think that that creates a lot of great opportunity, sully. >> but at the same time you're buying calls in energy transfer, a company that moves dinosaur juice through pipelines to fuel cars with gas. i love it. you hedge the auto bets. >> you are one munn% right you know what, i don't look at it as hedging. the energy space, everybody gave up done oil was $38 in november. where now? over 70 today. it gives you an idea of you know, often times it's like the old saying about the depth being this and that. it's crazy to me i think there are always opportunities out there, whether it means energy transfer i have energy exposure in the options world. i have so many different positions that are exposed right now. and this is just adding to

to them they say lordstown is only worth five bucks.first all civilian space flight. calling virgin galactic a competitor, that is buy. they're not concerned about the delay of the italian crew spaceflight. retail sales numbers. that is also helping american and amex today. bank of america is lifting it to neutral. they say it is worth $169. amex has underperformed this year but there could be more upside especially as americans spending more and they're probably using their plastic, stu? stuart: probably out there spending wildly with all the money on the sidelines, with 4 trillion in money funds. that sounds like a good idea. what else you got? susan: i have a deal news. great western bancorp in south dakota. this is a tie-up between montana based first interstate bank system. first interstate bank system buying great western. i love the local financial tie-ups. not only the big players that dominate the banking space in america. stuart: got it. great western bancorp up 11%. not bad at all. thank you, susan. >>> grocery store store pr

lordstown rallying on reports is close to selling its ohio plant, to taiwan's foxconn.ought from gm two years ago. this sale will give a much needed cash boost to the electric truck maker call it a wild ride for rideshares today as you can see , it's 6.5% gain. now on the flip side investors slamming the brakes on car max, despite beating on revenues, a miss on earnings, leaving the auto retailer stalled at bottom of the s&p, right now car max is down almost 11.5%. and kohl's on no one's shopping list today, at least of all bank of america. analysts of the big bank double downgrading shares from buy to under perform on supply chain crunches, warning the lack of inventory could dent sales specifically in kohl's active and women's private label lines. i bet this is not the last time that we hear this about one of the retailers i've got to say that because the supply issues we're seeing right now and kohl's is down more than 11.5%. let's stay with this because kohl's is not the only retailer getting killed today. bed, bath and beyond also getting. isunk by supply chain pro

. >>> about 30 minutes left to go in the trading session lordstown motors higher on a report of nearingeal to sell the ohio plant to foxcom the sale will help them raise cash and could be finalized this week the stock moving up more than 6%. >>> shares of virgie galactic soaring after the faa ended the investigation into the july flight which devastated from the restricted air space trading up more than 13% now the company is free to focus on the next flight which was postponed, that includes some members i think of the italian air force. >> a low way off the highs down about half a percent on the s&p 500. >>> it is time for a cnbc news update. >> hi. the department of homeland security telling immigration officers that lacking documents is not enough reason to be deported secretary mayorkas telling "the washington post" that the biden administration will continue to focus on deporting immigrants that pose a threat to national security or public safety. >>> suicides rose 15% last year among armed forces 580 suicides in 2020 senior pentagon leaders called the studytroubling and calling f

look at youngstown, ohio, there is a lot to unpack with what's happening at lordstown motors, whether or not the company is only able to succeed, and i hope it does, it seems clear there were outside investors looking at this not as a long term investment in a community with a proud manufacturing heritage and a talented workforce but as a way to make a quick buck with no follow through. there will always be people, of course, like that but that doesn't mean we need to encourage risky financial mechanisms to encourage speculation over long term investment. in a situation like that when those investors make their money and pull out, companies break promises and workers and the community pay the price. what are the risks, chair gensler, what are the risks that the spac market has highlighted over the last year and what can we do about it? >> i think the special purpose acquisition companies, these blank-check companies, the risks are to investors and the disclosure to the investors. i have asked staff to serve up recommendations that we could consider as a commission, but in essence ther

look at youngstown ohio, what's happening at lordstown motors whether or not the companies are only able to succeed and i hope it does. it seems clear there were outside investors looking at long-term s a investment in a community with a proud manufacturing heritage but as a way to make a quick buck with no follow-through. there will always be people like that but that doesn't mean we need to encourage risky financial mechanisms to encourage isolation over long-term investment. in a situation like that when these investments and pull up great promises communities pay the price. what is the risk that the market is highlighted over the lastyear and what can we do about it ? >> i think the special-purpose purpose acquisition companies are blank check companies. the rest are two disclosure to investors . i'd asked staff to serve up recommendations we can do as a commission but there's a lot of cost in these and secondly, we usually have a 2 yearfeuds . they usually try to go out and buy something and a lot of the institutional investors when that happens sell, it's called a redemption right