let start with the reddit stocks and meme stocks. let talk about amc even though it went on either side of the flat line today. would you be a buyer and follow the crowd? >> courtney, let's take a step back and think what is going on. that's crowd sourcing ideas on social media platforms we thought maybe this was the blip but it here to stay and that idea was planted with little guys betting against larger guys and wynn, that can't go away. i wasn't in the trade. if you 2 x your money, you should take profits here and wait for a pull back and maybe see if you can visit other entry points there and also for gamestop, up 25% over the course of the week there so i think this idea is strong and you keep seeing it come back. for myself, i've been sitting and watching and it's good to be a spectator in this volatile trade. that's where i'm at with this. >> help me understand this it seems like in the beginning, yes, it was like a revenge play. it was the little guys against big hedge funders in a name like gamestop but look at a name like

direction on reddit, that's at least as strong as that heat seeker algorithm, and in many cases theeker sort of reflects all of those movements of these traders because they're doing a leveraged trade. they're getting in there because their accounts, some of them are huge but most of them are modest-sized accounts. so instead of being able to buy 10,000 shares of stock like the institutions we follow, they're buying 100 option contracts that simulate 100 -- or rather 10,000 share position, scott. but the returns, like you've said, 159% for amc, but you look at the option returns, oh, my gosh, 1,800% i mean i can show you just one of them from the may 18 call, scott, went from $1.25 to over $20. i mean these are crazy moves in these stocks beyond meat, the same sort of thing. beyond the 11th of june expiration, 150 calls, they were buying them when the stock was 139. they've already tripled their money, 300% return in a week so when that army of apes lines up from reddit, and they all say ape strong and they all start going in one direction, it is just going to lift, and obviously we

reddit trading back in the markets. here is abigail doolittle with a look at what is happening with this friday feeding frenzy. abigail: it is indeed a frenzy. so much green on the screen, and this is just friday. amc up 20% on the day, on the open, hitting a $16 billion value market cap. then you see lots and lots of green for these reddit stocks. beyond meat until recently not in this group, but now some are starting -- trying to explain. there were the big gains in january. not clear what is behind the trading right now, amc probably getting some of the benefit of the doubt around the reopening, but here, huge volatility. orange, amc, white, gamestop. back in january, white, the original meme stock, the original reddit stock, up 117% at that point. amc up just a fraction of that. then there was the crash back down, higher, higher, and now you have both of these stocks up more than 1000% year to date. what is behind it? of course there is a short squeeze, also they gamma squeeze, that has everything to do with the opt

and later, amc, shares soaring 35%, is this the moass mother of all short squeezes, as i heard on reddit. we start with ge, spirit, trans digm -- phil kicks us off with the details. >> hey, melissa, when air bus does something basically predicting where the industry is heading the others move, that's the case today, boeing moved higher, and air bus said get ready for amp for a 320 the counter to the 737 max it's the bread and butter at air bus and they want suppliers to get ready. for how much proud uks will increase, they currently build 40 per month by the fourth quarter want suppliers to be ready for 45 per month. by 2023, first quarter, they expect that to get to 64 that will eclipse where they were at the high-point in 2019 and they want their suppliers to investigate the possibility of getting up to 70 -- 70, a-3:20 per month in the year 2024 there's increased optimism about the max. deliveries have recertified after the latest electrical issue was fixed. orders have been increasing, moving shares of boeing higher. we've seen the same from the aviation sector overall, whether ge, b

they're just using reddit and twitter.hing to do with theaters. >> does it have to? we keep saying this has nothing to do with fundamental businesses, businesses are not that successful. does it matter? if you're one of these investors and you have seen the value of these shares skyrocket, you've won. >> yeah, stocks up 66% in the last 8 days. it's up 6-fold in the last year. good for them. the companies took advantage of it and did a secondary. the question is now what? you have what is effectively a stock that is trading almost like -- it feels almost cryptoish. it's detached from the underlying fundamentals. if you made money on the way up, great. watch out on the way down. we are seeing a pattern here. this company, typically the market does bend towards fundamentals. the corners of this trade with gamestop -- >> not now. >> -- will begin to collapse. >> fundamentals these days, they feel like a thing of the past. dom chu, scott galloway, thank you both so much. crypto, we can go into that all day. >>> coming up next -

short interest and then mentions on reddit and other names that they can now predict what will be then-up and momentum trade and definitely partially due to some of the institutional investors. >> hang out in the forums, too the point is that it's social. not secret thank you very much. >> exactly thank you. >> for more stocks to watch go to cnbc.com/pro. >>> another reddit darling, cryptocurrencies the next guest said the popularity of crypto and rise in ransomware is no coincidence he's making a case by crypto needs to be banned in the name of cyber security. he is a professor and executive director of global financial market center out duke law and joins us now lee, welcome >> thank you. >> why don't you make the case here you have a powerful friend essentially in the form of warren buffett and his sidekick says i don't want any part of something that's a mean of exchange for fraudsters. >> i have never met them but it is a privilege to be considered a friend of theirs but look. i have taught fintech law and policy for five years and it is only recently came to this conclusion wher

it just shows the meme, the reddit crowd, they are still there. is amazing to see the impact they are having. amc, it did raise money and take advantage of that situation kind of ahead of this reopening. but eyes you say, they have come back for more -- but as you say, they have come back for more. absolutely sensational. alix: for amc, it is 1000. 1200% for gamestop. guy: these are crazy times. alix: what i also find really crazy, i mentioned this at the top of the hour, i am not saying that amc and gamestop aren't real companies, but it is also ford. ford makes stuff, and you have the reddit crowd in that as well. i found that to be quite interesting. guy: ford, and some ways, you have seen what happening -- in some ways, you have seen what is happening with the reopening implants, but -- reopening in plants, but they are making a shift. it just feels more logical to me for a generation that is looking at that, and we take it back to exxon. you can almost compare and contrast what is happening here, ironically, with the electrification shift of

it had fewer than 8800 mentions on reddit. also says it's hiring engineers for an ntf division. elon musk tweeted about bitcoin mining council and plans to address crypto currency. plussi musk denying he has influence over the market. please note there's no formal organization and no one reports to me. my ability to take action is limited. kelly, some on reddit disagree with that based on how much crypto has moved on his tweets >> i want to go back to the game stop thing for a second. it's interesting to watch them reinvent themselves. the nft move is an interesting one. what about amc it seemed to me the simplest explanation that ties this all together is something like liquidity driven or cash driven or interest driven it's odd it would come right as we're about to go into memorial day weekend when the economy nationwide feels like it's about ta to open up >> these two companies are so different yet they trade in tandem they are seen as the reddit favorites. it's really divorced in some ways from fundamentals i think a lot of folks on red dreddit are looking at mentions and th

interesting to me, burry has become a reddit favorite favette among wall street bets for the gamestop bet, but so was elon musk. self-proclaimed meme lord. i wonder how much damage done with the bitcoin comments to that group so it will be interesting, carl, to see what happens when these two worlds collide if they collide. we don't know the timing of this bet, and what the details of it are. but peeking in the reddit threads and saw one user say, oh, musk -- burry, excuse me, probably made a bet for the short term maybe getting out. saying that he is not exactly a diamond in the hand. doesn't get too greedy knows when to cash out. >> yeah. at the very least, even elon, de, might agree that things will get more competitive, not less, in the comes days. ford rolling out the lightning f-150 today and tomorrow we know what's coming up in china as they bolster local players. at the very least you can say the space will heat up and get to be tougher sledding perhaps for tesla. we'll see. >> yep let's pose this to our first guest this hour. a tesla shareholder and chief investment officer o

the reddit or's -- the redditers and robinhooders were buying this last spring. everyone was saying they did not know what they were doing. a year later, they are entirely vindicated. catherine: that's right. 99% of the time in a bankruptcy case, i would say the shareholders are getting nothing out of reorganize companies. this is a different scenario where not only are they getting something, it is actually much larger than what anyone could have ever predicted. it has to do with a number of confluent events. david was talking about the rebounds and also the prices that are increasing for used cars, so these shareholders were buying into the company, and they always said, we're in the money, and there were others that if you look at the bankruptcy plan for pointing out, you are actually slated to get zero. you are slated to come out of this with absolutely nothing. a bidding war between some of wall street's biggest investment firms pushed up the price and it actually came down to which of these two groups -- there were two competing proposals -- would give more

and gamestop roaring back to life what's driving the reddit favorite higher this time? we'll find out we start with the big bank beat down, the nation's big bankers taking serious heat today on capitol hill, wells fargo, morgan, bank of america, kicking off two days of testimony before congress check out this exchange between senator elizabeth warren and jpmorgan ceo jamie diamond >> how much did jpmorgan collect in overdraft fee from consumers in 2020. >> your numbers are inaccurate we'll have to sit in private -- >> it's a private -- can you answer . >> it's a -- how much in fact did jpmorgan collect in overdraft fees from customers in 2020 do you know the number >> i do not know. >> i have the number $144.63 billion. >> we waive the fees for customers upon request if they were under stress under covid. >> you can fix that right now, mr. diamond will you refund $1.5 billion you took from consumers during the pandemic. >> no. >> not pretty. tim, what did you make of today's hearing? does this hearing tell us even though banks did a lot of work during the pandemic they

annmarie: maybe you need to spend more time on reddit. i'm kidding. haven't seen anything new on reddit either. i was wondering maybe if you had some extra insight. when you talk about the correlation between meme stocks and crypto, we haven't seen a 10% plunge, where is that money going? steve: some of it unfortunately is margins, which means it disappears. i thing a lot of the crypto that we saw, a lot of the fallen crypto was -- a lot of the fall in crypto was because people were deploying margins. but that's where i think it goes. i thing this is the rotation. i think it comes out of crypto. this isn't working for us. let's go to reddit and see what might work for us on that side. that is the rotation in a nutshell. money going from sector a to sector b, except in this case it is different asset classes rather than traditional sector rotation like we think of for your institutional investors. annmarie: so forget tech to energy, it is bitcoin to amc. steve, thank you so much for that. steve sosnick, interactive brokers' chif strategist there -- bro

reddit threads in this gamestop case have an impact similar to something that could rival a bloombergminal, so speech on a bloomberg terminal shouldn't be treated differently than speech on a reddit thread. i think we have structural opportunities to improve trading. lisa: i will say, there is a question also about how bitcoin, how doge coin, as my children asked me about on a daily basis because it is from "row blocks -- from "roblox," there's a question of why we haven't come up with a regulatory framework. rep. davidson: i had the opportunity to speak to secretary gansler when facebook was talking about libra. he felt the sec wasn't doing enough to get regulatory clarity to the market. i look forward to his answers on a range of topics. it will be his first appearance before the house financial services committee. i am optimistic you will agree we need some torch of -- some sort of light touch regulatory clarity for this space to flourish. i was touched by the federal reserve's openness to allowing access to the fed payment system. tom: could chairman gensler take a middle ground i

it's one of the most closely tracked spacs on reddit. psth with more than 13,000 members. today's daily discussion already has 2,000 comments the conversations range from detailed speculation about what the target might be. many members have coalesced around the idea of a stripe or a bloomberg, although i have no reporting to support that notion that he's negotiating with either company pershing square has declined to comment, of course there are also some pretty entertaining memes as well bill actman as wonder woman, with subway footlongs, one for each day that goes by without a deal announced so you can pick your favorite and pick the day the creativity is fierce nonetheless. the speculation is enough to drive the spac price well above the value of cash held in trust, about 1.5 times net asset value. you can see there $25 a share. so investors in pershing square were clinging to his words on the investor call where he said he started working on a transaction in early november noting they have done their homework on the deal, they like

dogecoin came out of a meme used to reward and providers on reddit and twitter.ssive following, accepted by merchants, i guess, around the world, but this has been similar to what we saw with gamestop with the reddit group pumping up a particular stock or coin. this whole thing, dogecoin thinn a joke. it wasn't meant to be traded. it grew into something. tristan, you loveyou loveyou loe would you be tempted to pay in dogecoin? >> as long as they take it, the value of any currency is what we say it is, what we all agree upon as a society or community, so they will take it and get me seats behind the catcher. sure. >> if you have been on reddit, you have seen this takeoff from the past six months or so. i am not surprised. it is more widespread. >> the a's have stepped farther into the 21st century than i have. i guess dogecoin is man's best friend, now. >> until it crashes -- there has been a whole pump and dump thing going with dogecoin. you have to be careful when you buy. >> speaking of being careful, get ready to catch groceries from a drone.a drone.a drone.a

which is why you see more traffic in gamestop and others on that kind of wall street bets forum on reddit if you look at the tickers we have on cnbc you see some stocks working their way back up again. fairly pr ly prevalent in the t. >> impressive show of force. appreciate it. >>> talk about the auto market into the push to evs to rising costs and material shortages and changes in consumer habits no doubt the whole market is at quite an inflection point and our own phil lebeau and jonathan smoke the chief economist for cox automotive dan, weelt start with you the change to ev just yesterday we saw ford upping the ante and spending to 30 billion through 2025. they are expecting ev sales to account for 40% of their global sales by end the of the decade last night the senate finance committee approved the green energy for america bill which raises ev tax credits. despite all the positive news, ev stocks has seen sharp drops nikola down 20% and tesla down 8% in the last three months. dan, i turn to you with ford on the scene with new f-150, who is best equipped to take advantage of the chang

and then what content is appropriate to them or rise to the top and i love that approach reddit cannotke entire hands-off approach we saw what happened there and they decided to take a more hands-on approach with certain communities but instead of moving them they quarantined them as a regular part of our vocabulary. was a very hateful community instead of taking it down they didn't allow new people to find or join. the conversations were still happening and not driven underground. but they also just weren't open for anyone. that is a unique and interesting approach. that's what we need to do more of. >> we have a couple more questions. >> i thank you have to type it. we have a few typed questions in the chat which i will try to collate for you see you can answer altogether. what are some of the aspects of the internet that makes speech issues so much more intense and complicated? and nice link to that is kevin o'malley's question about vaccine misinformation. asking do you feel it's okay with vaccine injured children to be centered on facebook. - - censored on facebook. i will be davi

reddit some past some of the most reprehensible qualities on the internet and this is an example wherepolitical compromises possible. we did this study where we created a made-up social media platform. unbeknownst to them we pair them with a member the other party to talk about issues. we were shocked to discover people in this anonymous condition be polarized much more than people who didn't especially republicans and that's particularly interesting. maybe it in my view the pier pressure on republicans with that viral silence dynamics where people are scared of sharing their unpopular views may be anonymity for some carefully designed forms could be one way out. >> so you are referring to your most famous study that 2018 study. said this is a new study. it's a study that we just did last year. the early experiment was the one with the lots that we asked people that followed lots of exposed them to the other side for one month. >> that's right. that was an amazing study where you made up interactive people and it actually made things worse but let me be clear i've never criticized anon

she is not sure trading stocks that are on reddit.l say my kids are really into deutsche queen. tom: it will be into ditch interesting to see, but -- interesting to see, but matt miller way out front on bitcoin. edward morse of citigroup. but -- stop by. stay with us, from new york, from berlin, this is bloomberg. >> the russian hackers behind the soul for when campaign have escalated attacks on u.s. federal agencies, think tanks, and nongovernmental organizations according to a blog post for microsoft vice president tom berg. in april, president biden ordered sanctions against six companies that provide support to the kremlin operations. in taiwan, officials say the coronavirus outbreak is not under control despite strict social distancing members -- measures. authorities reported hundreds of new infections. the health minister hoax at least 60% of the population can get at least one dose of the covid 19 vaccine before the end of october. japan's prime minister is extending instead of emergency in tokyo and other cities in japan. it

the interesting thing is there is a research note that it has become a reddit crowd trade.t had a spike up and a spike down. that reddit theme stocks thing is not over. that stock up 1% but off the highs of the session. futures now positive after being pushed at lower, and it goes to show that even if china wants to suppress higher commodity prices because it really hurts the inflation bubble, it hurts the price index in terms of higher prices, they cannot do all that much because it is a global story in part driven by decarbonization of the western countries. really interesting point there. guy: absolutely. we will talk about this later in the program. we will focus on that around the european close. let's talk about what is happening now. the first in person eu summit since december kicking off in brussels. top of the agenda, the landing in belarus sunday. what can we expect? the european leaders have a challenge here. they need to in some way may be sanctioned belarus, but not hurt the population of belarus -- ma ybe sanction belarus, but not hurt the population of belar

reddit forums have been key to dogecoin this one is labeled unpopular pin -- elon wasn't that bad onfrenzy causing issues at robinhood it's been leaning into dogecoin lately they sigh in the middle of the episode was due to volume at this time, but the outage has been resolved. this week on reddit, traders are talking about palin coantir, and almost 60% down from the highs back in february others commiserating today about some losses in the tech-heavy portfolios they have, talking about the on wall street bets, the stay-home stocks have been getting slammed for weeks, clown cathie's ark, down about 5%. >>> we break down jeff bezos and his love of milk next? ch "techcheck" will be right back to a huge wedding. to give high fives to our patients. to hug my students. with every vaccine, cvs is working to bring you one step closer to a better tomorrow. ♪ it feels so good to be cared for. ♪ wi♪ back up now, ♪, cvs is working to bring you ♪ just a little more. ♪ ♪ the feeling someone's always there, ♪ ♪ just to show how much they care. ♪ ♪ the feeling you're not alone, ♪ ♪ now she's a part

if you look at the wall street that's reddit post -- wall street bets reddit post, you can see a correlation number of unique authors and the weather there. so i thing have already been receding since it is frankly more tolerable to go outside on the east coast in particular. i don't think they have to destroy this market, but at the margin i do think they take a little bit of the oomph away. alix: let's talk about the value trade. i just want to point out the single-digit upside from major regions. they prefer europe to the u.s.. for the u.s., we see increased margin pressure. for europe, they see stronger momentum for earnings growth going forward. i know you are u.s., but where within the value sector can compete with the call for cash from europe? lori: we are neutral on u.s. versus non-us. with that non-us, a lot of it in our thinking is europe. i do think it is a interesting call because europe is the ultimate value trade. it has better valuations. but at the end of the day, the virus backdrop is better in the u.s. at the moment, and we are at the center of the reopening trade right no

are you part of the buffett camp that thinks gamefication is not a good thing or the reddit meme investorp that says trading can be fun and should be fun and is a way to learn about investing markets? >> i'm in the camp that says saving and investing for the long-term is how people should focus and how people should think about investing and that's what we encourage. and to benefit from compounding, stick with it. diversification, stick with it that's our whole man tra >> noah, i'm wonder building the business model going forward as you plan to scale up your subscription revenue, which i take it you expect to continue to be the bulk of revenue. does subscriber acquisition start to cost a whole lot more as you have to use marketing dollars perhaps to compete with some of the bigger names in this space? >> well, as you know, we're over 4 million paying subs, trend to go 10 million. i think this time in the country is really important with what happens with covid for every day consumers. we want to get as many people on the acorn platform as possible as fast as possible so we can put the res

our users are on reddit, on twitter. it is a huge phenomenon.aded assets on etoro u.s. charles: what did you look at to convince you, was it a ban? you just didn't have it, right? you decided to welcome it. why? what changed about dogecoin? >> when we are deciding to list assets we look at two things. primarily if there is enough liquidity. clearly what is happening with the dogecoin, currently with a market cap of 72 billion. there is liquidity. we can satisfy demand, most of the assets we're listing because of a large market cap are immediately in demand. the second aspect is compliance aspect. we go through a very neuroanalysis whether or not a particular asset is a security. if it is deemed to risky to be a security or that we believe that yes, you might consider it a security, we would opt into not list it. if we get comfortable after consulting with lawyers that that it's, it is decentralized enough or does not fall under the definition of a security we would go ahead and list it. charles: okay. i'm surprised that you would say it is not t

stop has over 2,000 unique mentions, that's according to data firm quiver quantitative so why is reddit one big reason, nfts game stop launched a new website yesterday under the domain name nft nft.gamestop.com, hinting at a move into digital collectibles in that area it is also hiring engineers for that nft division. guys, we saw a broader sell-off in some of the meme stocks last week and the other speculative assets, of course, cryptocurrency bitcoin is recovering a bit from the crash last week. it fell to roughly $30,000 last wednesday. it is back around the $40,000 level, about $38,000 today once again, a big driver, elon musk he tweeted about bitcoin and a mining council and plans to address the environmental impact of cryptocurrency mining that is boosting some morale around cryptocurrency this week. musk though denying he has influence over the crypto markets and doegecoin in particular responded to a tweet calling him the doge ceo he said his ability to take action is limited. deidre, back to you. >> i'm not sure we will buy that, especially as we track the markets in relation t

it was the last of 3 hearings to examine the gamestop robin hood reddit saga.our washington dc correspondent anna wiernicki is in washington. what is next. >> wall street's top regulator told lawmakers on thursday that the agency is considering new rules after a group of amateur investors on reddit work together in january to drive up stock prices for the video game company gamestop taking on wall street. investors who bet the company would fail. what happened on january 27th in 8 was not good for millions of investors democrats, including california congresswoman maxine waters says it's time congress and the sec hold wall street more accountable is critical for our cops on the block at the sec to protect investors and ensure that markets transparent and fair water says the sec needs to crack down on private funds, especially hedge funds. but republicans say more rules would only make it harder for americans to invest or exploiting high-profile situation. >> to push a radical progressive agenda that will only further prevent every day. american investors from a

charles before you go i want to talk about the reddit mob the clothing retail expressed within 33% game a 50% movie theater giant amc inexplicably up 109%. so help me out, charles chevy putting my money into these meme stocks? >> we should've done this segment a month ago. [laughter] now you ask me. i will say this. kennedy: want to know is it because of crypto because crypto is tanking are people looking for other speculative investments? yes that's part of it. some of the money goes back and forth obviously really popular with millennial's for this a different thing going on here. there are some of these reddit stocks i think you could buy a car dam is one that looks attractive, listen. people are betting these names come around they do extraordinarily wellin the long term. the irony about all this is most of these are long-term investors which you want people to be. they are betting on names at wall street have given up on. you know what? a lot of times that works a lot. wall street is premature, too shortsighted for think the riddick route is a lot smarter. listen, you don't necessa

liz: look at this , breaking news,reddit's wall street bets crowd is out for blood in these final 18ment is speaking 45%, so the crowd is drawing blood from the hedge funds who bet against amc stock. shares are on a terror hitting session highs with trading volume accelerating very very quickly here, again, amc jumping 45% and by the way it's up 822% year-to-date. the picture is expected to get even more glittery for the movie theatre chain along with the entire sector, right? cinemark imax, as hollywood raises the curtain on a flurry of summer movie black busters this memorial day weekend is set to be the biggest box office weekend since the pandemic started as we see the releases of a quiet place ii, and cruella but here is the question, can the theatre business ever return to its full former glory and i'm talking about in the 80s here in a fox business exclusive ahead of this weekend's release, we're joined by rich gelfond, good to see you, rich, i've got to talk about f 9 the international debut of fast and furious brought in 162 million in total box office sales a big chunk comi

the reddit crowd does it again. we'll discuss that and a whole lot more. good afternoon, i'm charles payne, this is make an "money." breaking right now, for 150 years progressives looked for socialist nirvana. president biden is making the way for that to come through. big government, big taxes, social safety net so big work would be optional and success would be punished. i will ask what happened to prosperity in this country? there are few things wall street loves more than freeh money. where does this bill go. how can you benefit from it? wall street, they like it. i have experts with ideas how to grow your portfolio amid all of this largess. the era of engaging with china is over and that competition is on, picking up where president trump left off. i will ask gordan chang if president biden is really ready to take on that communist nation. all that and so much more on "making money". ♪. charles: so if the "new york times" is right and tomorrow president biden releases that six trillion dollar budget it will in effect mark a profound change. america wi

it was posted on reddit along with the caption, my daughter, where is the rest of her?t our eyes playing tricks on her. >> i can't unsee it. the rest is behind a short wall in the foreground made from the same stones as the sidewalk. >> i think i kind of see it now. >>> next to a memorable start for a young couple's life together. the video comes from las vegas. >> this company was at the venetian hotel when he popped the question. as he was about to place a ring on her finger, he fell overboard. luckily he held on to that ring and she said yet. >> falling in love. >>> next we head oversees where a man in france took slime produced by nails and, of course, turned it into a business. >> making soap out of it. extracting a tiny drop of smile from each snail. the snail mucus is said to have anti-aging properties. >>> a new guinness world record. >>> a new guinness world record. >> a billiards fan set a new ♪eh uh, eh uh♪ ♪flow (oh my gosh)♪ ♪where man go (oh my gosh)♪ ♪if a man see me (oh my gosh)♪ ♪i guess you never know what you got 'til it's♪ ♪flow (oh my gosh)♪ ♪where

read it carefully. >>> gamestop seeing big gains while young investors are seeking advice from redditn z adults and millenials ages 18 to late 30's say friends and family influence their decision, according to a new poll, more than half are scrolling through apps for advice and 40% consult with a financial planner, turning to other sources instead. >> it could be social media and non-traditional sources start to really compete with traditional financial institutions in terms of where folks are getting advice. >> about a third use facebook and instagram and more than a quarter from tiktok, reddit and twitter. financial planner, lauren williams says she meets clients where they are. >> instagram and facebook where you can share information and people can pop in and out of the room and find something interesting to them is the new way. >> williams warns investors not to be lured in by personalities claiming to wipe out significant debt or huge windfall on little-known stock. verify the information the number of followers doesn't mean they have credibility, education or experience in the

lawmakers on thursday that the agency is considering new rules after a group of amateur investors on redditk together in january to drive up stock prices for the video game company gamestop taking on wall street. investors who bet the company would fail. what happened on january 27th in 8 was not good for millions of investors democrats, including california congresswoman maxine waters says it's time congress and the sec hold wall street more accountable is critical for our cops on the block at the sec to protect investors and ensure that our markets transparent and fair water says the sec needs to crack down on private funds, especially hedge funds. but republicans say more rules would only make it harder for americans to invest or exploiting high-profile situation to push a radical progressive agenda that will only further prevent every day. american investors from accessing our capital markets. sec chairman gary gensler told lawmakers his agency is examining the role of social media platforms on market volatility i'm not concerned about regular investors exercising their free speech righ

as well as a trader involved in the wall street bets sub reddit. those involved in the short squeeze and volatility and we got the facts. in our second hearing we received testimony from a number of capital market experts and investor advocates to hear their views and begin to assess possible legislative and regulatory steps that may be necessary. we examined con flits of interest in the market. we have scrutinized payment for order flow, potential systemic risk to our financial system. the gamifiction of trading, the clearance and settlement of trading and the evolution of trading with the rise in use of social media and new technologies. today we will focus on the regulatory response to the market volatility. specifically we will hear testimony from the securities and exchange commission. the financial industry regulatory authority and the deposit trust and clearing corporation about their responses to events we are examining. it is critical for our cops on the block at the s.e.c. to protect investors and ensure that our markets are transparent a

that was because of reddit, reddit wall street beat, that a was because of twitter and facebook and millennialshe price of the stock up. as a result of that kind of communication, what you're seeing is that they rose the stock price almost 12% yesterday. dagen: you write about millennials have no confidence in key institutions, in the united states, for a variety of reasons. you mention corporations, even institutions of faith, and government. but when i read your article, i felt optimism for this very reason. because you interviewed people who are using their freedom and opportunity afforded to them by just the foundation of the country to do incredible things and to use technology to their advantage. and it's like rather than something being done by government mandate, you interviewed a screen writer, former show runner on the hbo show, insecure, ben cory jones, he's like i'm making an effort to employ people from all backgrounds, he's driving diversity and that is the individual. not the government. and that's -- because that's kind of -- that was what i took away from your article. [laughte

the action this week proves that if you want to check out the reddit hyped names gamestop up yesterday and blackberry and then bed, bath & beyond unchanged much more on the meme stocks at 6:30 this morning. >>> let's look at the "squawk" stack. lumber prices down by 6% a couple of days ago they were down again yesterday lumber down by 11% month to date the first negative month out of seven. year to date lumber up 52% copper is climbing up 28% for the year wti up by 4.1% month to date 36% year to date guys, morning coffee could get more expensive coffee taking off. at 1$156 there's been a lot of talk about that you can see the prices has been picking up you may pay more for gas, andrew, but also coffee. >> i'm already overpaying for starbucks and espresso pods. there is so much margin for them they have to eat that margin a little bit i'm paying for it already. >> i wouldn't count on that. you will keep paying. >> did you look into the gamestop tokens? you will use ethereum to buy is that why it was up so much yesterday? >> it sounds like haines -- >> andrew, it's red nose day maybe on

mainstream facilitators of abuse and sexual exploitation taking a look we see names like netflix amazon reddit vera scion and google chromebook how are these companies involved generally speaking. so i want to review the traditional definition of human trafficking is using force fraud or coersion to taint goods or services usually sexual from another person however during cold or the last 12 to 13 months at definition steve has changed think of it on live vehicle something moving and image is moving all of these platforms let's talk about google chrome over 40000000 children during code that were using google chrome on their tablets and laptops for their education there were no safety filters there were no a monitoring tools that children during their lessons were being deluged with images of porn or sexual frustration and google refused to turn on which they can very easily do any safety filters or monitoring tools so again if that in. we're talking out and image sexual in nature of taking on line can travel travel travel that is the new definition of human trafficking during the last about 1

>> well, starts with the mima stock great i know you like that rocketship emoji crowd on the reddit chato let's talk about what they're up to but there are up 36% this week and amc more than doubled and a lot of short interest and signs of meme type trading but let's separate these and amc is in a fight to see whether the movie business will ever be obtained and it's very much a growth stock. ford is a totally different and that was up 9% and simple. electric f-150 pickup truck and a lot of people are out there saying wait a second, i did not recognize it would be such a serious workforce and maybe even make my gasoline truck look wimpy and wall street likes it and earnings have been strong and important programs. jack: speaking of power, let me read the lead to your story in this week's barren, big oil suffered a terrible setback but if could move the industry forward it will move energy companies and their investors. could you explain? >> wednesday animals looks like final scene of the godfather but exxon mobil living two seeds to an activist investor and a new activist investor and yo

and i say ashley is a crook, while you can sue me, but you can't sue read it because we do not want reddito have to go through every single one of those, and take responsibility, but you certainly consume me and asked but you certainly can sue me and people do. , it is important to understand this because section 230 encourages that kind of personal responsibility, but the other thing it does, it actually gives platforms legal protection to take action against hate speech, hoaxes, conspiracy theories, and twitter has been sued, and they successfully defended those lawsuits on section 230 grounds. it is an amazing law and has been essential to making the internet better, but it is widely misunderstood or it is mischaracterized out of political bad face. peter: but doesn't this go to complaints from conservatives, donald trump is barred from facebook and twitter, dennis prager can't be on youtube -- would you consider those to be, those two people to be giving hate speech? adam: without getting into particular decisions, the fact is facebook and twitter have , their own first amendment right

mainstream facilitators of abuse and sexual exploitation taking a look we see names like netflix amazon reddit vera side and google chromebook how are these companies involved generally speaking. so i want to review the traditional definition of human trafficking is using force fraud or coersion to attain goods or services usually sexual from another person however during cold with the last 12 to 13 months at definition steve has changed i think a bit on why vehicle something moving and image is moving all of these platforms let's talk about google chrome over 40000000 children during code that were using google chrome on its habits and laptops for their education there were no safety filters were no on monitoring tools that children during their lessons were being deluged with images of porn or sexual frustration and google refused to turn on which they can very easily do any safety filters or monitoring tools so again if that in. we're talking out and image sexual in nature of taking on line can travel travel travel that is the new definition of human trafficking during the last about 13 it'

mainstream facilitators of abuse and sexual exploitation taking a look we see names like netflix amazon reddit vera side and google chromebook how are these companies involved generally speaking. so i want to review the traditional definition of human trafficking is using force fraud or coersion to tain goods or services usually sexual from another person however during code the last 12 to 13 months at definition steve has changed think of it on line vehicle something moving and image is moving all of these platforms let's talk about google chrome over 40000000 children during code that were using google chrome on their tablets and laptops for their education there were no safety filters or no on monitoring tools that children during their lessons were being deluged with images of porn or sexual frustration and google refused to turn on which they can very easily do any safety filters or monitoring tools so again if that image were talking out and image sexual in nature of taking on line can travel travel travel that is the new definition of human trafficking during the last about 13 it's an i