for us it's more of the same first order of business is make reddit awesome, make reddit faster, more work for more team and then the future internationalization a big effort, video. same strategy, just keep moving ahead. >> i want to hit on both of those. talk about why video is important. you talk about enhanced video quite a bit. is it people want to make tiktok influence, you know, stories out of it? what do you see as video what role does video play? >> sure. so if you go back in the past, 15 years ago reddit was just links. then we had a text and images and third-party video and our own video, and every time we add a new content tiype our users ar creativity in new ways, usually ways we can't predict. we are looking forward to another big evolution of reddit. i think there is a version of reddit that is even better watched than read. of course, tech isn't going anywhere either. so i it think it will be an exciting new frontier. >> and when was dub smash? >> late last year. >> and this is pointing in that general direction? >> yes so that team we brought in with the acquisition,

ultimate reddit army stock?e very enjoyable levels i would have to imagine. >> yeah. i mean, the reddit stock army keeps betting op things it likes or things it wants to mess with and they certainly love messing with reddit. i think the big question for reddit is they keep taking all this money they keeping a saying they're going to invest it in the product. the reddit product has looked the same forever i can't tell you one improvement they've made to it what are they using this money for? >> no, but steve, i'm glad it doesn't look any different there's something reassuringly familiar about just the plain text and all of that but i guess my point is if i'm fidelity, steve, i'm thinking sure, i'll bid your value up to 10 billion, you're going to take this thing public and it could be worth -- do fundamentals even matter >> saw this with robinhood too remember our colleague andrew sorkin asked the ceo of robinhood, are you at risk of becoming a meme stock yourself and i can't even imagine a more meta meme stock t

what impact has that reddit group had? the - condition. what impact has that reddit group had?s, the influencers then try and provide more proof that they are in fact ill and then because they are providing more proof, they are accused of exaggerating it. and they get to the point of self—harm sometimes. goodness me. thank you very much for that and if you would like to see that and if you would like to see that documentary, it is called sickness and lies and you can see it on the iplayer now. now it's time for a look at the weather with carol kirkwood. hello again. some of us have already seen quite a bit of rain this morning. for others, it is yet to arrive, but more of us will see rain today than we have done in the last few days and it's also going to be windier. the strongest winds will be in areas adjacent to the irish sea. what's happening is low pressure is coming in with its attendant fronts, so a dry and bright start in the east will be usurped by this area of low pressure coming in, introducing thicker cloud and then later on, some rain. so, there are some shows in s

another factor, the most mentioned stock on reddit. courtney >> kate this is interesting. with gamestop there was high short interest that attraction the reddit traders that's not the case. training is part of it what else should we understand >> it's a great question >> those redditers are drawn to the highly shorted stocks. the day traders tried to band together and stick it to the hedge funds. that does not appear to be a factor at least today. after an ipo short selling tends to be muted because of the lack of shares to borrow. it's possible but extensive as well to do so. i talked about this earlier. they say about 10 million shares of robinhood borrowed in order to short right now it seems like a high number. it's not really moving the needle there is a little bit of short side activity. it is not changing the picture today. it's really the long side driving a lot of the volatility that we're seeing with robinhood. >> all right, thank you very much, kate kate rooney reporting trying to untangle the mystery that is robinhood and the meme stocks. so is robinhood the ne

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what do you think of the reddit crowd number one, and how does a company like moderna become a read reddit darling >> yeah, it is so foreign but just so new and it makes the market so much more interesting but also very volatile my perspective of reddit for biotech is that biotech is a hard space to invest in because you kind of have to know science and if the trials will work or not and the space is very volatile, things move up 100%, down 50% but now it is like looking at simple themes like vaccines. we all know the next variants are coming so the simple biotech thing, vaccines will probably be more important. and it is like a moderna or a pfizer is the bellwether >> and so let's back up and talk about why small and mid cap biotech names have been such poor performers especially if the sector gets more attention from the reddit crowd. it almost reminds me of the professional investors who are always talking about the next big thing. why are those same conversations not leading to more interest whether from the retail public or whom else in these names? you know, i remember past years whe

, a clever marketing team or something bigger and more nefarious, people have been trying to gain redditg time we have been working to protect against that for a long time >> is it all about them as the gatekeepers? users are on the lookout they are working -- they are aware this whole thing can be manipulated. >> yeah. they say that they are getting better at catching that because they now who the user is we talked about this yesterday it's interesting you have a fidelity coming in you have to wonder if the more institutional investors they get, the more advertising dollars they get, they will be held to a higher standard. they have some ways to go on that front i asked him whether they had a responsibility perhaps to clean up this in terms of investing, pushing towards long-term robinhood has been doing with the iras and saying they need better education he said, we are all here for the community. there will probably be both that exist on the site. >> do you have any concerns in the sense that reddit has been a big player, they are doing fund raising rounds, this high valuation, they a

approach, trying to unwire reddit so that the groups on reddit that have been promoting this stuff have thing to remember is the majority of people are not like this, they're not looking around for horse medicine. that's true for every online community. reddit had become overcome by other communities telling people to take ivermectin. regular people on reddit have stood up, they've said to executives saying, you have to stop this. executives said, guess what, we're not going to do anything, this is all did discourse, discussion, that old trope you hear from lots of silicon valley executives. so instead, these users banded together and have taken over the ivermectin sub-reddit that used to be people talking about putting it on crackers so it tastes less bad. so there is a little bit of a triumph here, maybe a playbook for the future as well. >> ben collins, senior reporter for nbc news helping cover disinformation on the internet. ben, thank you, you final made it make sense to me. >> thanks a lot. >>> we'll be right back. a lot. >>> we'll be right back. when i get a migraine, i shut out

seeing a lot of chatter about it on reddit.en shots and chatter about those types of trades in particular there is also been a lot of the stay at home traders looking for content as well as a community and barriers have essentially gone airway. it's more accessible with hundreds of apps now including robinhood offering options it's cheap across the board, commissions have essentially dropped to zero. and volatility also spurred this on options contracts of course let you buy at a predetermined price in the future or you can sell it at a future price. and these types of trades tend to do better and just be more successful when there are big swings in the markets which we have seen a lot of this year, especially in those meme stocks. and those rewards, of course can be higher but so can risks in these cases. so be approved to buy puts or calls usually requires one or two years experience and a minimum dollar amount in liquid assets brokerage firms like robinhood have some under pressure and made it harder to access options tradin

tim, interesting trade can't short a stock in this reddit frenzy. >> yeah. look, i think we're doing the right exercise in trying to compare the fundamenta businesses, and because i think a lot of that conversation was also just talking about people trading the stock. on some level i don't even really care. i think we're trying to assess the value of this business one of the things that's an important point today is sometimes the capital markets opportunities will allow the company to grow to a place, and access to capital will change the future of the company. that's kind of the buy line for so many reddit traders in this democratization, supporting companies they believe should have more access to capital and let them work out their future by -- actually it's been logic you've heard es spouded by vlad tev irv and the leaders here part of the story for robinhood what are they going to do with this client base how are they going to tie them in more long term, grow their balance sheets whether i.r.a., actually lending. there's a very powerful loyal client bas

i mean, not exactly the kind of stock we typically think we would see on the reddit boards >> yeah, i agree amd has been really interesting. it's not really a consumer brand. really a b 2 b business. the reddit mentions picked up ten times over the last ten days and it picked up a few days before earnings, which obviously the company blew out the earnings call. so i think a lot of the due diligence on reddit is talking about the global demand for chips right now. and if you look at the alternative data, the company is in major expansion mode. with jobless claims over 240%. and they are forecasting incredible demand. i think that's -- that's what redditers are talking about >> what else are they talking about outside of robinhood and amd? then i'll let you bounce what should we keep our eyes out for now >> one more, snap chat last week there were five megacap stocks in the top ten of wall street bets being discussed. snap chat was not amongst them but it's creeping along there. the company hasn't gotten as much attention as the others but that's what i'm looking out for >> we will inde

emily: meantime, reddit just raised new funds at a $10 billion valuation.t has been a long journey. it was not always looking that way. talk to us about the power of community and the value of these platforms. where do you see that going? alexis: i would like to take credit for having the foresight but i really, i didn't. i thought this was a good idea to just and sort of expect the power of community to scale in the early promise of the internet. the thing we did not anticipate, that i think you're seeing now fulfilled through crypto, is that sense of community ownership and the sense of being able to reward someone for being, for participating and giving them a sense of ownership that actually helps pay bills. the fact that we now have programs that is creating this new sort of web 3 it's a big deal. my expectation going forward is that we are going to see a lot of really interesting stuff bubble up as more talented product value with designers and engineers who start building on blockchain tech. and i really think this intersection of community and capit

and what is i the impact of this reddit group? the cle it the impact of this reddit group?ill. brute prove that they are really ill. we must leave _ prove that they are really ill. we must leave it _ prove that they are really ill. we must leave it there. octavia, thank you for coming in to tell us about that. octavia's film, sickness and lies, is on iplayer now. a wildfire that has raged for more than a week has now reached a thermal power station on turkey's aegean coast. the coal—fired facility was already evacuated and flammable and explosive materials were removed, in advance of the flames. in greece, fires exacerbated by a heatwave are also causing severe damage. the bbc�*s lebo diseko reports. one step closer to safety. seeking refuge from wildfires in turkey's southwest, hundreds forced into journeys like this just to stay afloat. here is the epicentre of concern. a thermal power plant storing thousands of tonnes of coal. authorities desperately try to contain it and remove chemicals, coal and other flammable materials. they say its main units are not seriously dama

. >> it's facebook and reddit.er 25,000 members called ivermectin and the team. he would think that there are doctors and they are giving advice. but the commenters are not doctors. they are just random people trying to same the same or space as everyone else. if you get the paste version of this it tastes truly terrible. they cannot stand a taste of it, it's very bad, so they try to find other ways to deal with it, through injection or other means i can't talk about on television. it is grim stuff and people are overdosing because they have no idea what a milligram is versus a gram. they are taking a lot. and that's why you see these calls to poison control centers throughout the country. >> then you mentioned reddit they are being another source of misinformation. you've recently reported that some other people on reddit have taken a more constructive or maybe destructive approach trying to on why or read it, so that the groups on reddit promoting this to have to confront reality. >> the thing you have to remembe

they're understandably kind of picking up on this meme stock, you know, reddit enthusiasm around them, which certainly they should. it is getting them a lot of capital to pull themselves out of this hole i don't want the viewers to be confused there is no technology innovation here. there is no platform that is going to drive this story. that's not what amc is about >> jon, you'll get the apes after you. if you're thinking about introduce cryptocurrency into your business, perhaps there is a longer term story there. i hear your point, however >> if 7-eleven says you can pay with bitcoin, they're not a tech company, they're accepting bitcoin. if you think bitcoin is worth less than dollars, pay for your slurpee with bitcoin >> as you say, jon, i use this often, your quote, every company may be atech company, but not every company is a good tech company. so perhaps one way of looking at it let's get to our first guest, though, joining us with his thoughts on whether or not the apes can keep adam aron's company afloat, editor ron john roy. help us out here where do you sit on this side o

for example, wall street bets on reddit is sky jb rocketing, including 10.7 million people. of course, journalists, as well. the propensity to gamble grows when everyone can see your stock pickings online. there is an upside finding others with similar interest and a rise in market participation, kelly. >> it's the blessing and the curse. you have a herd, but then, you know, you're encouraging each other. what about spax? i was reading about how this investment vehicle is leaving some newer, younger investors feeling burned. >> the credit goes to institutional investment for this story there was a piece about investors who lost millions on bill akman's spax. many didn't know what they were buying into, but it didn't stop them from rushing into this new financial vehicle. a-rod, cierra, many are posting their own spax bill ackman fan pages. the sec lost the spax, and retail investors lost big. many wanted on the action, increasing risk by borrowing on margin or buying cheap, risky call options didn't always result in stellar returns returns. in this piece, one guy said tradin

we're all over the action shares of amc the reddit favorite stock kicking off the latest earnings call recent losses today but one notable name sat out the rally what it says about the sector. later, a kiss for crypto rocker gene simmons has been setting on the biggest on doge coin tell us why he's so positive on the crypto space gold at the lows of the session. april of last year silver is now down 8% in past week copper and lumber, you know, also down. does smod commodity sell off give you pause for concern transitory as the fed says what are your thoughts >> i think it tells you that think think or crude who firmed up the dollar, who firmed up the ten-year u.s. treasury yields. they think the fed will start to taper soon if you go back to 2013 in the december meeting, the fed started to taper bond purchases in 85 billion a month to 75 trillion and they started tarping $10 billion. if you look at the risk assets that we talked about, that would signal maybe we get it as soon as jackson hold at the end of this month or the next meeting in september that the fed might really start spea

emily: you have been scouring the reddit boards.y are regularly siding the robinhood app, but they are reminding us that in some cases they are selling amc and gamestop to buy this. maybe robinhood will ban them to -- a reference to earlier this year when robinhood restricted trading on some of the meme stocks. emily: why did these folks not buy on ipo day? there was not a lot of volatility. ed: there was a lukewarm reception, to say the least. one reason was that restriction, these day traders, reddit warriors, whatever you want to call them, they felt aggravated by what robinhood had done earlier in the year. what institutional investors are saying, this is herd mentality. they are seeing what others are talking about on twitter and other social media and getting in on the act. emily: certainly there are institutional investors as well. what is it in the psyche of these retail traders that is convincing folks to still by now at this price? ed: the fundamentals of the company are not that strong, according to bloomberg intelligence

over the near term >> rohit, is it poetic justice or irony looking at the wall street bets forum on reddita lot of hatred for robinhood. business model and what happened earlier in the year with trading halt. >> yeah. again, it's hard to see how robinhood can sustain these valuation, to be honest. again, there are fundamental question marks in the business model ash the sustainability of the business and how simply good they are with market makers right now. small changes in the payment rell lation could -- regulation could mean good for the business a lot of promise and a classic story stock in my opinion. but the skittishness, adding to that of investors. >> rohit, what is a meme stock in danger using that for anything that is popular and goes volatile. it's not clear to me who is moving this. is this institutions is it investors? at the retail level? is it some sort of a short trade gone wrong it's not clear to me that we know yet >> it is too early to tell from our standpoint, from our trading desk, we are seeing more short covering again it is very hard to short a new ipo, but to the

getting another 9% today new data shows another big spike in reddit mention force this name it is, againfour times as popular as the second place, which is amd stay with us if you're 55 and up, t-mobile has plans built just for you. switch now and get 2 unlimited lines and 2 free smartphones. and now get netflix on us. it's all included with 2 lines for only $70 bucks! only at t-mobile. - [announcer] dearest smoke shacks, defenders of the dry rub. thank you for giving your all to a 20-pound hunk of brisket. whatever you serve, we'll proudly deliver it. (bike rattling) (pleasant piano music) well, geico's 85 years isn't just about time, you know. it means experience. i mean, put it this way. if i told you i'd been jarring raspberry preserves for 85 years, what would you think? (humming) well, at first you'd be like, "that has gotta be some scrumptious jam!" (humming) and then you'd think, "he looks fantastic! i must know his skin care routine." geico. saving people money for 85 years. beg your pardon. >>> reseth near the bottom of the hour here. welcome back to "techcheck." i'm carl quint

couple drivers here, hood is now the number one most-mentioned name in the wall street reddit chat room, yesterday it was number two its moved up a point but this is also the first day investors can pile into hood options trading which opened this morning but could robinhood , along with a good chunk of the rest of the market, but headed for a cold shower? in the past 24 hours, these three power players we'll put up on your screen, two of them just hours ago, have made declarations about both the markets and the economy that indicate regulation and rate hikes are on the horizon. securities and exchange commission gary gensler, calling cryptos the wild west promising he will heavily scruitinize the digital currency trade, charlie gasparino will have more on that in just a moment. two hours ago treasury secretary janet yellen discussed the u.s. economy saying inflation is temporary and would return to normal levels in the not too distant future, but federal reserve vice chair richard clarita said today, that if federal reserve expectations for inflation materialize in the months ahead mea

part is public retail traders can now share that more easily there's youtube videos it's not just redditre's people saying here's how to short the stock, cause pain to the hedge funds and it is more of a power dynamic and power struggle than anything this does seem to be the recent -- the most recent example at least of a trend we've seen going back to gamestop it's the flavor of the week. >> that is a fascinating point michael, you want to respond >> yeah, you know, i think that the short sellers really are unnoticed. in a way, this is almost really a market dynamic that really is reining in short sellers if you think about the main complaint, short sellers have been driving the metrics it hasn't been base on fundamentals now we have another party on the other side that i suppose their perspective is they're keeping these hedge funds accountable. so, i think it's going to continue, and i think it's absolutely correct that if you're short in a stock, you better have strong conviction and a lot of money because it could come after you very easily like they are on support.com today. >> cas

the latest chapter of the reddit trading crowd facing off against institutional sellers perhaps.to the options market as well 33%. the stock soared what happened to the options >> yeah, so the options, which were actually already quite active ahead of today, traded 11 times their average daily volume almost 790,000 contracts traded over all that would place it third in terms of the most active single stocks traded all day and the most active options traded were the 7.5 and 11 strike calls that expire in november over 82,000 of those traded for just under 1.90. meaning that traders were risking more than the stock actually cost in january to bet that the stock could rise another 80% by two weeks from friday so some pretty crazy volume that we're seeing >> certainly is. thank you very much. as always, of course, tune in to options action every friday, 5:30 eastern time. it is already time for our final trade. let's go around the horn tim, why don't you kick it off >> yeah, look at that lows breaking out and i think if you look at the second quarter numbers, the margin expansion and

almost six in ten investors are members of investment communities like reddit.y are getting their financial advice online, hopefully through apps like anything to do with cnbc, but youtube and tiktok lead the list and tho a survey of 18 to 24-year-olds were found to be more likely to choose riskier financial decisions when being watched by others today, investors are constantly sharing trades on twitter and encouraging each other to stay long in trades behavioral researchers say the risk could stem from the interaction of community and capital. >> it is not really so much about earning profit as much as showing your fellow community members this is what i got, this is -- i'm going to keep holding on for you guys, for the rest of my community you saw a lot of that with game stop >> social media is a big part why robinhood and reddit are so popular. 10.7 million people are include and though the propensity to gamble grows when everyone can see your stock pickings online, there is an upside, that sense of being part of something and a rise in retail investor market

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

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

>> this is reddit.t vlad, we may think that vlad, game stop, the money has been coming out of game stop, okay. that's an opportunity. that's a source of funds amc up a little bit today, but it was down, but the money is focused on robinhood and amc these people have a lot more money than people think. >> so much for a not well-placed ipo. here we are a few days later. >> they had to clean up when vlad sold some. >> not quite a double but you're getting in the ballpark. >> you're getting close. >> 39, 38? >> they got 22 million people. it is loved. i know that people think how could this be a single source of truth. >> all right, but jim when it comes to the fundamentals and the potential for this company, who knows, and certainly you can imagine a lot more -- i'm talking about robinhood. >> no, be ever that, you said the fundamentals. >> talking about the fundamentals and the potential future of the company, you can get a lot more optimistic about robinhood than you could potentially about gamestop or a

think about valuations creatively in this environment so could that provide some impetus for the redditrowd to further push up the ark fund >> after amc i'm surprised any short seller wants to be out there. you're almost begging for that to pushback to get so it's going to be interesting to see how this plays out because i wouldn't be surprised if people jump on to the ark w bandwagon. before the truth coming out people could lose their money. >> finally, within ark two names to get your comment on coin and robinhood ahead of the print. you said you don't find either that innovative with vulnerabilities to bring them down but they have the networking effects to ride the momentum waves. >> both platforms have taken advantage of the influx of people in the market that never traded and invested before and pulling people into the market the problem is each platform has a weakness, perhaps even a critical weakness. while robinhood is free they're paid on order flow and could put -- bring the platform to a halt with coinbase it is the fact that it's an opaque -- in spite of the fact of a chea

hold investment it is public nature which is why young erier investors are willit take on the risk redditonline like you tube. robinhood and twitter were not the focus of the survey. the survey of 18 to 24 year olds were more risk financial decisions when watched by others. encouraging each other to stay long and behavior could stem from the interaction of community and capital. >> it is not really so much about earning profit as much as showing your fellow community members this is what i got i'll keep holding on for you and the rest of the community. you saw that with gamestop >> reporter: social media and social interaction are a big part of why robinhood and reddit is popular bets sky rocketed to 10.7 million people the propensity to gamble grows when everyone sees your stock picks, there is an upside. rise in retail investment participation and more are getting in the game. especially since the pandemic. >> kristina, this is no surprise you walk into a casino if you see a lot of activity and action at that black jack table or hot craps table, people are drawn toward it. what do we se

. >> i looked at reddit.is not doing a very good job keeping the scammers off the platform. they still get the commission whether the item is fake or not. they are only doing the symbolic crowd reporting thing. how do you respond to that >> well, we actually have been working on removing the spam from the system. finally i think over the last few months we made huge headway. impact of it will be positive. one of the things we see with content management broadly is that in the system when you sort of look at the fighting spammers, you have to look at machine learning have you to look at community reporting. so overall i feel like the last few months we are getting steam over it. the battle is not over i don't know if it's ever going to be over it's something we fight tooth and nail it's not about commission, it's all about technology. >> we are big fans of snap chat. it's gaining momentum by the week >> yes it's really exciting to sort of partner with next gen platforms. what we see with snap chat posh mini is

liz: all the lexicon, yes of course from the reddit rebels, great to see you, the nasdaq has crackedtraight record closes the heavy index topping 15000 for the first time ever intraday but cannot close their, it's there to 15026 with 59 nu

what impact has that reddit group had? the point is that not many people do fake illnesses.n fact ill, and then because they are providing more proof, they are accused of exaggerating it. and they get to the point of self—harm sometimes. a new uk invetsigation has discovered that a mix of agricultural pesticides sold to farmers is more harmful to bees than was previously thought. the researchers from royal holloway university found that a cocktail of chemicals reacted with each other to kill larger numbers of bees. our science correspondent, victoria gill reports precious pollinators in decline. our bees face multiple threats to their survival. from a loss of food—rich rich natural grassland, to the dozens of pesticides that are commonly used in agriculture. this new study set out to quantify each of these threats, and to work out how they combine to affect the insects' health. the researchers examined 90 studies that each measured the effect on bees of pesticide or another environmental challenge. they worked out that combinations of several chemicals killed many more bees

you look at the reddit boards appear there are some very strong reddit boards dedicated to this spacith more than 15,000 people speaking on it. and people feel a little burned at this point in time, kind of comparing it to the titanic, a sinking ship, get out while you can. people talking about the money they lost on this thing. yeah, it's definitely an angle here >> i mean, all just happens, too while there is more scrutiny overall on spacs, sparcs, whatever whatever you want to call it. the microscope is firmly here. >> right, right. and of course this one being the largest ever gives it a larger microscope than you may see with other spacs. people say the lawsuit filed against pershing square taunton in squishing could technically have been filed against any spac out there because of the idea they will invest in treasurys and money market funds that hold u.s. treasurys, that's common among the entire asset class the fact that this one is the largest led to some unique challenges here, especially as it pertains to finding a target to consummate a merger with. >> all right good stuf

this photo went viral on reddit.inics at the jackson public library downtown. i repeat, a library. why aren't these people in the hospital? isn't that the question sean hannity should be asking rather than promoting this kinda sorta sketchy situation pushed by a governor no one ought to trust regarding covid? sean, you know that covid can kill you. your company knows it too. per an internal memo, fox news is mandating employees, like hannity's own producers, to enter their vaccine status in a database. so what gives? is it the insatiable thirst for ratings or validation? maybe it's money. whatever the reason, this itz what fox news and desantis have done. neither hannity nor tuckems nor laura ingraham and the rest of the filthy rich fox news hosts nor any of their wealthy friends will ever have to lie dying on a library floor begging for regeneron. you all will never be refused a hospital bed. your king got covid and got flown to the nation's best military hospital in a helicopter to receive all the cadillac treatmen

traders are learning some of those strategies in places like reddit, youtube and discord where they findunity as well the barriers to entry essentially have gone away it's now more accessible with hundreds of trading apps including robinhood now offering options, and it's a lot cheaper. commissions have essentially dropped to zero. kelly, back to you >> it's so interesting, kate, to think through does options trading mean the same thing as gamification, or does gamification refer to any kind of way that people might be trading? >> i think it refers to trading across the board robinhood has gotten dinged by other regulators, the state of massachusetts has gone after them, and they have changed some of their strategies there, but i think it refers to other brokerage firms as well, the idea of enticing people to trade and just spend more time on their phone. does that eventually sort of move on to options that could be the case but it's sort of across-the-board cryptocurrency stocks in general and what goes on we've seen it happen with gamestop a lot of attention there >> i hear people talk

our quant team looks at the names getting the most traffic on reddit, risky lo y longs or t and hood is a clear number one over the last few sessions, not surprisingly i think we just have to be a little bit sensitive to that we try to outline the fundamental case as part of the note, and based on the fundamentals, the bold case, you can underwrite something as high as 100 the bear case if you contemplate the real regulatory risks and worse case scenario, it could be as low as 15 we're shaking out somewhere in between. we're mindful that the valuation outcomes are, you know, pretty extreme, you can drive a truck through that range, so we have to be mindful of some of the sensitivities when we think about what sort of rating we want to ultimately publish. >> right and you're framing it in a series of questions about the business model and the industry that i guess are really unanswerable now, namely account growth, arpu, what is the regulatory picture for payment for order flow what is the new normal for new retail engagement those don't sound like questions that will get answered in

another stock popular with the reddit crowd is hitting back today at questions for the trial data forheir alzheimer's drug. the shares are still down 26% for sava and finally toll brothers is gaining today, beating on earnings saying low inventory and low mortgage rates helped their results. they expect to build 10,000 homes this here with an average price of $830,000. wow. toll often seen as the luxury play over to rahel salman for a cnbc news update. >> here's the cnbc update at this hour, a house committee is demanding record from the trump white house and several intelligence and law enforcement agencies the requests carry a two week deadline the governor raising the state's official covid death toll by more than 12,000 to more than 15,000 she's trying to give a more honest picture of the pandemic casualties, although the higher number isn't totally new because johns hopkins and others have been using the higher tally for months because of known gaps provided and the world health organization says it is still unclear where covid-19 came from, the group warning that the origins of

one of them used to be incel on terra reddit blinded them. , , ., , , them.her places and you find a _ them. they turn up in other places and you find a lot _ them. they turn up in other places and you find a lot of _ them. they turn up in other places and you find a lot of aids _ them. they turn up in other places and you find a lot of aids in - them. they turn up in other places and you find a lot of aids in the - and you find a lot of aids in the all to write some credits and i used to be one that got booted as lata and he would find them in their january they try to bully the other forums so a lot of people dislike them and a lot of people however their views are draw the lines at abusing women so. i don't know if you hear the very brief clip we have shown of the video that david filmed not too long ago that he talked about being beaten down and defeated tjy my about being beaten down and defeated by my life, is that the kind of self—pity and language that you witnessed over a year? self-pity and language that you witnessed over a year? absolutely. eve hi

the reddit crowd, rival insurance giants, everybody trying to take you down?el shriber joins us live from tel aviv. your most recent earnings report was typical of a hot growth company, we see this a beat on revenue but a miss on bottom line because you're taking your profits and reinvesting them in the company but investors who got in after the january high i'm venturing to guess they are pretty annoyed. talk to them about the near future for your business. >> so wonderful to be with you. you know, we wrote you mentioned the ip ipo. we wrote about what kind of investors should really be drawn to lemonade and what kind of performance and focus we're going to have for them and what we wrote there was that short-term fluctuations are really noise and we're not going to credit them as signal. we're going to focus intensely on the long term opportunity that there is before us, and insurance really is, perhaps the most disruptable industry on the planet and the prize is worth fighting for. these are businesses that can survive for 100 or 200 years and go often $100

wall street bets reddit forum target for short sellers they're trying to bid the stock up it's up 38%. just to give you context, earlier this year to start the year this was a $40 million market cap micro cap company. it's now worth close to $900 million in today's trade. so, keep an eye on support.com, wall street bets, short sellers, reddit, you name it, all part of that theme paypal exploring stock trading on its platform. according to sources familiar, the shares up 3% meanwhile ripple effects carry to robinhood what does it do to robinhood those shares down 4.5% now we'll have more on that story throughout the course of the day. still an interesting move, a divergence, if you will, right, kelly, for those online payments and brokers, paypal, robinhood going in opposite directions i'll send things back to you >> we will have much more on that still to come >>> let's turn back to the broader markets. what is driving stocks forward to all of these stocks dom is talking about and how has this changed as delta spreads bob pisani has more. >> kelly, the important thing is rotation we'v

we speak to jock mallers getting into reddit, giving up on snap and throwing in the towel on shortin

it's just a fact so when you go look at sofi versus robinhood or on the reddit boards and see how mucheddit activity is around robinhood and not around sofi you can see the difference in the stock prices and, look, don't shoot the merge. i'm not the only personal observing this today when i make private investments in companies planning ipos down the road, the first question i ask is, who is running social media for you who is actually telling your story? who is doing messaging that matters in terms of what you're worth >> i hear you. i'm looking at gamestop, at 483 now at 150 that's why i bring it p . pudrj. has an update on his trade as part of unusual activity we'll do that next - oh. - what? rain. cancel and stay? done. go with us and get millions of felixble booking options. expedia. it matters who you travel with. this past year has felt like a long, long norwegian winter. but eventually, with spring comes rebirth. everything begins anew. and many of us realize a fundamental human need to connect with other like-minded people. welcome back to the world. viking. exploring the worl

been quite a remarkable turnaround for this business, which almost went bust these gamers on these reddit have pushed the stock up over 1,500 percent this year. so quite remarkable, but they will, they say, take bitcoin now before the end of the year for tickets. look, if you are unhappy with the markets, you are hangry. if you like what your government has been saying of late or you're just hangry with the whole covid situation and, quite frankly, who isn't then the creamery says they've got a limited offer that might feel that gap. they are offering a cheeto flamin'' hot ice cream and shake. $5.99 for the cheeto ice cream it's $6.99 for a 20-ounce milkshake. maybe that's one way of getting you through the day. back to you. >> or maybe ending it. i don't know about that. kind of interesting. salty and sweet, i get it. but spicy and sweet some i don't know >> the mexican candy where you put the chili powder on it i'm into it. >>> coming up, the crimson skies. harvard is setting itsig shts on ufos >>> and janessa is tracking the dangerous storms that spawned tornados in the midwest. this i

also the whole reddit craze we saw at the start of this year.ther this continues or whether that eases off, as people go back to work and reddit is not so popular at the moment. the company says they have seen a little bit of a slow down and demand -- in demand. they emphasize their client base is a lot bigger now and there should be able to cross sell other products and other kind of retirement products to those customers. they came to emphasize as well the average age of traders trading stocks now dropped about seven or eight years over the last five or six years as well. the average age of people investing is a lot lower, which is positive in the long-term growth. francine: five seconds, energy stocks? >> a really good week last week. the outlook for the variant of the virus is going to weigh on the shares this morning. francine: thanks so much. i will catch joe easton to talk about lionel messi. the only stock we should be watching his football sucks. coming up, the market open is minutes away. -- football stocks. coming up, the market open

still the most talked about stock on wall street reddit pages and twitch this morning.0 options cleared on the cbo. this is the volatility. cathie wood, arc invest, buying $65 million, her total robinhood stake of $300 million. that is one of the reasons we're seeing robinhood doubling in just a week. ashley: pretty amazing stuff, thank you, susan. president biden aiming for a big boost in electric cars by 2030. what is the goal? susan: i don't think it surprises anybody, i don't think it surprises anybody in detroit, auto city. 50% of all cars sold by the end of the decade will be emissions-free. battery electric. plug in hybrids or even the fuel cell powered hydrogen by year 2030. the carmakers are already doing it on their own. ford expects 40% of sales to be all electric by end of this decade. sylantis, formerly known as chrysler. gm all electric by 2035. they will have the announcement later on today in washington, d.c., with president biden. who is not in attendance? elon musk and tesla tweeting he wasn't invited to this event which i think surprised a lot of peop

reddit is raising funding that will value the service at $10 billion.ew financing will bring in as much as $700 million. it was valued at $6 billion in february and saw a surge in interest after a forum on the site jolted the stock market. bitcoin slipped below the $44,000 mark thursday, a day after closing at its highest level in nearly three months. as crypto markets inched back to $2 trillion, investors are left wondering if one cryptocurrency has a brighter future than the others. >> the fight over the future of cryptocurrency. cryptocurrencies are among the most divisive assets in the world. some investors love them and are willing to bet their life savings on them. others think that is crazy. inside the world of crypto, there is another battle brewing and it could find the future of the technology. on one hand, we have bitcoin. they believe the primary purpose of a crypto is to store wealth, that the digital assets will someday overthrow the dollar and remove the power to print money from the state. on the other hand we have ethereum and groups th

reddit is $10 billion. carta at 7.4 billion. divvy over $2 billion.the equity investments $273.3 billion today. it is a global story. if we look at the funds raised in the second quarter 2021, $166.2 billion, venture capital and startups. you can seat whatever is going on with the pandemic, venture capitalists are not deterred. go to the second quarter year ago, 2020. we have more than doubled the money going into startups and more than pre-pandemic levels as well, so those of the numbers. that is what is happening. i don't know why. maybe they are bullish about the economy coming out of the pandemic, but there is certainly activity. emily: thanks so much. for more, let's dig into why venture capital has suddenly woken up and how this is evolving. i want to bring in our deals reporter. first of all, fundraising happened earlier, and it seems to be a bunch got reported at the same time, or is there something in the water? reporter: sure. it has been active for quite some time. it seems day after day this last year there is a new unicorn, maybe two unic