the red-hot reddit that's already dtit. >> the reddit effect is real and it's shake up traditional financial and lowering barriers of entry for individual investors. >> it's nothing short of remarkable >> the forum was founded in 2012, but went mainstream during the pandemic in 2021 when users spurred by retail investor keith gil better known by his online moniker roaring kitty, executed a short squeeze. >> i'm not a cat and i'm not an institutional investor >> leading to a wild rise in the slumping brick and mortar video game retailer once on the brink of bankruptcy. >> gamestop shares, there's nothing normal about what you're seeing when it comes to the stock right now. >> since then, armed with stock trading platforms like robinhood and ameritrade have championed several money-losing companies like amc, bed, bath & beyond while they take down short will sellers in the process they've led to congressional hearings and a potential gamification of the markets as well as the evolving role of technology and social media. the whole piece on the cnbc is tech check guys, have a great thanksgiving

. >> this started from a sub reddit and blew up from there.nvolved. how did it all go down? >> yeah. back in june of 2011 the idea was putt forward to take this new sub reddit where people post stories with a specific bent to them. in other words written in the first person and meant to be taken as true. this really happened to the person telling the story. and so the idea was put forward to just create a podcast to narrate the stories and grew from there. i did a lot of it in the early days and then brought in the composer and the incredible cast of talented voice actors and has blown up over the last ten years. >> let me play a little bit more from room 733, that falls into a very ultra creepy category. >> occasion ll anight i thought i could hear a noise next door like marbles rolling across the floor. since it never woke lydia up i didn't bother to say anything. one amp i was alone in the dorm editing notes on my laptop. i had my headphones in but the music wasn't loud enough to cover the noise of someone knocking on the door. come in i sa

stock, that's why it is every risk manager has been staying away from the wall street stocks and redditcks. there are no shorts out there. i remember trading back in '99 and if you announced you had a website, your stock went up 20%. same thing here. they don't happen near bottom. they happen at the top b.k. is not going to be the first one. as much as i like to be a contrarian, i would also like to rent from avis and have the monies to do it. i am not going to short it >>> coming up, zillow, home slipping business. > >>and we will break down the company's latest efforts in mackaw we will be back right after this ♪♪ ♪♪ move your money to sofi. download the app and get your money right. when you hear the word healthy it always feels a little out of reach. but it's all about the baby steps. maybe it's a jump or eating something green. or taking mom to get that vaccine. ♪ healthier means bringing stuff to the folks ♪ ♪ that really need it. ♪ ♪ like help at 2 am or care that's right at home. ♪ ♪ believe it. ♪ ♪ and caring for them all means ♪ ♪ we're doing healthier right. ♪ ♪ so, let's do

cnbc talks to some of those redditers about why they're sticking with it in business, setbacks changet business internet and add securityedge. it helps keep your network safe by scanning for threats every 10 minutes. and unlike some cybersecurity options, this helps protect every connected device. yours, your employees' and even your customers'. so you can stay ahead. get started with a great offer and ask how you can add comcast business securityedge. plus for a limited time, ask how to get a $500 prepaid card when you upgrade. call today. >>> welcome back shares of amc entertainment, the more than century-old movie theater chain, have been on a wild ride this year after teetering on the brink of bankruptcy in 2020 its market cap now sits at $18 billion and that's thanks in part to a group of 4 million retail investors who now own 80% of the company melissa lee has been following this story and spoke with one of the most well-known influencers in the ape army. >> i think what attracts people to amc is the unity behind the trade. it brought people together to appreciate that you can c

it's a thread on reddit called "what this is thing?" the identification of mysterious objects." people post photos of an unidentified thing, and ask the hive mind of the internet to help them figure out what it is. i like this sort of thing so we took some of the objects from reddit and asked folks on hollywood boulevard if they could help us identify them. [ laughter ] it's time to play "what is this thing?" let's see what people say. >> what is this thing? >> um -- neti boi pot. >> i feel i could balance a ball if i could blow air in it, a magic [ bleep ]. >> could be like an enema. if you have it in the dark side, fill it with water there. that's the only thing i can think of. >> looks like a bong to me, am i allowed to say that? >> jimmy: wait a minute, a better question might be who is that shirtless man? there you go. that's hollywood for you right there. probably chasing the guy who took his shirt or something. [ laughter ] back to the thing. we had some solid responses. one of them is correct. what is this thing? a neti pot, a m

this buzz etf that is basically investing in the reddit trades i know we talked about cathie wood and transparency and what are other opportunities >> yeah, the buzz etf is i think a really interesting the strategy has been around for over five years. an index has beaten the s&p. and i think what is really interesting about it is you think this the crowd is a momentum-based investor. but if you parse through all the messages on reddit and stock and some of the other social platforms people are realizing there is a different signal in there, as well not only does it own maybe what you would expect, coinbase, upstart, but also some like paypal and a stock that has gotten really hurt and zillow, as well. >> fascinating times also includes amc entertainment. that stock is up over 1,200% over the last 12 months. jan, thank you for joining us. >> thank you. >>> now federal court dismissing one part of a proposed class action lawsuit against robinhood and the company's role in january's gamestop frenzy. robinhood did not conspire to strict trading as meme stock surge. shares of the company a

to both get approval of trump because they are a party beholden to him as a personality and a deep reddity to go. but that is exactly why democrats have to be laser focused on passing policies, because there is really not a lot to be gained -- look, if you are into these bobert deep reddit memes these are -- midterm elections are often a referendum on the party as a whole. so the more that these extreme republicans are out there making offensive comments and then kind of apologizing, obviously don't care, and we can see where mccarthy and the party leadership is, they are just barely a slap on the wrist -- but democrats have to be out and vocal and show they are being effective, they are passing thing like infrastructure, and they can pass things like build back better. you know, we can take paid leave as the example. if democrats don't keep paid lead one of the most popular pieces of the legislation in the program they are going to get drowned out by this republican noise. it is going to turn republicans from the main treatment off of the republican party but they are not going to be ene

remarkable to see this explosion in monthly options, particularly call options this year with the redditobinhood crowd >> what is the exact as we see more in options than stock themselves >> it is not quite right to say the options tail is wagging the dog at this point but it has caught a lot of people's attention. remember something, are you in an up market, so at the start of a new options season or a monthly options, you buy some options slightly out of the money, in an up market they will tend to go into the money. if you do it month after month, suddenly you think you are ainous but you're not you are in an up market. we haven't had the whole new system of movement to monthly and even weekly options really tested in a down market or a more volatile market we'll see. >> fair enough bob, thank you so much we appreciate it bob pisani tracking things down at the new york stock exchange >>> the dow, meantime, is on track for the second straight weekly loss as the lockdown austria has renewed worried about the pandemic airlines like united, american and delta taking a hit boeing lower as

line is, you cannot be large in these positions if you need to get out of the way quickly of the redditme traders. they don't necessarily start with the question, what is a really good company? they sometimes start with the question, who do we hate and who would be punished by my buying this? when you're in that environment, be small, be nimble. just manage risk. on the short side, it has always been about risk management, but never more so than now. >> there has also been a huge trend with a discussion about moving to esg and putting money into greener companies, greener types of technology. i think about some of the electric vehicle companies that have gotten completely pumped up. not just tesla, but another one that ipo'd. it has a market cap as big or bigger than before, even though it only delivered a couple cars. is this a concern, or is it specific to the moment? carson: we have done some shorting in that space. the trick with shorting something like in the ev space or a technology that might have a future and that future could be important, is, it is separating the ceo's or foun

i don't know anymore >> it is all over reddit i like the duvets. a heavy duvet so i feel safe at night. >> with a steep drop warning of some supply chain disruptions. up nine. well below best levels coming up, we'll talk about another stock that is a huge jump avis shares more than doubled. more on that at 6:30 the fed getting ready to set its path for the post pandemic economy. we'll get you ready for today's big decision that's next. you are watcng "uaoxhisqwk b" live from the nasdaq market site in time square ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq ♪ say it's all right ♪ yeah... oh. ♪ say it's all right, it's all right ♪ ♪ have a good time 'cause it's all right ♪ ♪ now listen to the beat ♪ ♪ kinda pat your feet ♪ ♪ it's all right ♪ ♪ have a good time 'cause it's all right ♪ ♪ oh, it's all right ♪ wi

that's what reddit is for. at the same time, i find this kind of refreshing.musk is unpredictable but he's the only c.e.o. who's having a good time. he's running tesla but also the mascot. it's almost as if the pillsbury doughboy was the c.e.o. him going around the office telling people to touch his belly button. hoo hoo! don't tell h.r. about this! you realize if he pays taxes on this that will be billions of dollars for the united states government at one. i hope you voted in the election last tuesday but i really really hope you voted in elon's twitter poll because that my friends is clearly the vote that really matters. did you vote? >> i didn't vote, but i feel for those astronauts flying on a spacex rocket ship whose toilet broke and they're wearing diapers shitting in their own pants going i wish someone would fix the toilet, what's our c.e.o. doing? sending out a twitter poll? i think this is a cry for cash. there's a difference between wealth and having money and i think he's broke man. >> trevor: you think he's cash broke? >> i think if you go to app

pay attention to, another reason to start looking back at retail platforms like wall street bets on reddit. let's turn to the fed. according to a survey, the fed will start tapering its massive asset buying program this month in the midst of the concern i'm growing inflation taken homework -- taking hold. joining us now is the parametric director of fixed income. thank you for joining us. let me ask you about the term inflation debate. can we stop using that? do we all agree now that inflation is here and it is not transitory? >> yes, by definition, we can all agree inflation is no longer transitory, unless we are redefining the word to mean over an extended period of time. supply chain issues are the cause of that. not necessarily seeing any easing of that, so there is more concern as we thing -- see things priced in the market. we could be seeing higher inflation and supply chain issues the remainder of the year and into next year as well. i am not sure that this is to your point a debate anymore. it is here to stay for some time. matt: what does the fed do about that, what do we get fro

the army of retail investors banningb banding together on social media websites like reddit and taking the issues they say is unfair to retail in investors. cnbc's melissa lee has dig into this what have you learned about this gore gorilla gang >> they are committed to not just to gamestop but the movement it's incredible to think 4.1 million retailers controlling 80% of a publicly traded company for the documentary, we wanted to hear more from the apes and i sent a tweet asking them to share me a video telling me why they invested in amc, most of their responses were willing t student debts. i have a lot >> it will go to the moon. and if it does not, it has been a wonderful ride >> i got amc for generational wealth i want my kids to be financial stable >> why am i an ape because of [ bleep ] -- >> we also interviewed two of the most influencers on youtube who share why they are shining a light on it and why they feel the system is rigged against the little guy >>> how the amc aicpas crack wall wall street is playing on our cnbc's youtube channel >>> sometimes you can have one and some

i'm looking at this reddit page, stories of people who have gone down this qanon rabbit hole.e's one who says lost my mom to this qanon [ bleep ]. talked about killing small children and drinking their blood. the saddest thing about this is how grounded in fear people are. we're all afraid. we're all unsure of what's going to happen tomorrow. where is it going to end? i have no idea. that's also really scary. qanon is a digital phenomenon but nothing exists in a vacuum. as it turns out, the paranoia that fuels q is as american as apple pie. at t-mobile for business, unconventional thinking means we see things differently, so you can focus on what matters most. whether it's ensuring food arrives as fresh as when it departs... being first on the scene when every second counts... or teaching biology without a lab. we are the leader in 5g and a partner who delivers exceptional customer support and 5g included in every plan. so, you get it all, without trade-offs. unconventional thinking, it's better for business. to make progress, we must keep taking steps forward. we believe the

cfo about their future and electric vehicles, and then being on the meme platform wallstreetbets on reddit. a lot to take in. we will talk about it later in the show. specific stock movers in the tech space, starting with meta. as you said, the company announcing it won't use facial recognition on the facebook platform when it comes to photos and videos. netflix up by 0.5%. it is launching into video games, five new titles for android platforms only. microsoft, one of the better performing mega cap tech stocks, giving its version of the meta-verse, and you will dig into that right now. emily: thanks for holding down the fort in san francisco. if you are worried the metaverse will be all fun and games, it -- fear not, microsoft's version will have powerpoint and excel. at its ignite conference, the company introduced more than 90 new services and updates at the core of the new announcements, a commitment to exploring breakthrough ways of connecting people, companies, and ideas. i sat down with microsoft's ceo, satya nadella, in an exclusive interview to talk about his own visit to the metav

just get on reddit and see if you can spot a company that hedge fund managers are keen to short.think the company is overvalued, then you and all your middle school buddies are going to buy that stock, forcing the hedge fund managers to take a massive loss and driving up the price of your stock. with your newly acquiring with the you can start your own hedge fund that continues to grow your fortune, until one day a group of people exploits one of your martin strategies, causing you to realize the traldz you made and the money you collected are in fact meaningless. when that day comes, you reflect on how nothing you bought or sold has brought you any closer to happiness, but now you're an old man, and this enlightenment has come too late. it's called capitalism. now, go out there and have some fun. next question? >> if you wish upon a star, do all your dreams come true? >> stephen: great question, joseph. i was hoping to answer it by using a famous song about wishing upon a stark but, unfortunately, that song is owned by a very litigious company, so for legal reasons this will be

research change with respect to short sellers in this very changed environment, where you have the reddit crowd and the wall street crowd jumping in and moving against the highly shorted stocks >> well, when i was at the research firm, one of the things i would be looking at is i would be looking at stock puts and other message boards to see if this was one of those kinds of stocks that's the first thing i would do, especially after february and at that point when memes started to push things up. the other thing i would do, and i would do today is look to see what the owners of the stock are. if the stock is 30% held by black rock and vanguard and any major etf firm, at that point you know you have inertia against you unless you can come out and point out something is an outright wire fraud >> it is fascinating >> really interesting. >> it takes a lot more careful work, maybe, in terms of the ipo structure than it might have in the past. >> i think that's an important part of the equation absolutely. >> absolutely. herb greenberg. >>> coming up, inventory and investments. we are joined by

first among the meme stocks, the idea that what became a story in the reddit world has become a storyreal world. tom: we will have to see. right now what we have to see is the rebuilding of the hertz brand. there interim ceo is with erik schatzker. erik: i am down in times square, the heart of the nasdaq. i am at with tom wegner, greg o'hara, and mark fields, the interim ceo of hertz. this trio is responsible for one of the most remarkable corporate turnarounds. last may it filed in bankruptcy and buys night it went public again, giving the company a market value of $13 billion. what a remarkable turnaround. break, -- greg, hertz stunned the financial markets for this order for 100,000 teslas. why make such an early bet on electric vehicles? greg: we are in the travel industry, we have investments all across the travel industry, and providing people with the products they want was an easy decision for us. we know our corporate travelers want electric vehicles to visit their clients and do business. we know our leisure travelers want electric vehicles. a great way for them to try elect

it will be the second to last child tax reddit payment unless congress acts. >> concerns continue to grow over a winter covid surge. nationwide cases and hospitalizations are going up after weeks of decline. more on what you should do if you are planning a holiday get-together. reporter: daily new cases are up in the past two weeks. nearly half the country is seeing an increase in infections of at least 10%. health experts are urging all adults to strongly consider getting a booster shot even though the cdc has not yet recommended it for everyone 18 and older. four states, including california, are advising fully vaccinated adults to get that extra shot at least six months after their second dose. >> we are seeing a little bit of a decline. we are seeing more breakthrough infections. the good news is that vaccines are holding up great against severe hospitalizations and deaths. for most adults, the risk of breakthrough infections has risen with the delta variant. i think people should be thinking about getting that booster. reporter: medical experts say they believe it is safe togeth

i was listening to the clover health call yesterday and they took a couple of reddit questions. email is known to do that as well so there's a different dynamic that's happening where people actually pay attention to them >> they should to be fair it's a lot bigger, faster and a lot more money on the line we'll see you in a few minutes thank you very much. >>> up next on this busy tuesday, what kind of dangerous game is vladimir putin playing in europe right now? why what's happening with one key pipeline could be very telling. >>> plus a major spac bet on social media with huge returns, we'll tell you about next door and later on, move over apple and microsoft, sort of there's a new entry into the $2 trillion club, we'll tell you who it is. that's your mystery chart, shouldn't be too hard. if you can't guess that i'm not sure i have anything for you we'll tell you all autt bo iwhen "worldwide exchange" rolls on right after this bring your visit to outdated montepisa! our sights will take your breathing away. our food will make your mouth leak. and our roads will make you break

than good for actors and actresses and other folks there that are back to work what we've seen, in reddit stocks and whatnot, is that once the balance sheet has changed, and we know this just from staring at companies over the years, this company has enough support, the ceo has a following within the retail community that every negative thing he says as a disclosure and disclaimer seemsmbolden the stock i admire the creative ways to bring in new revenue streams but it's not really a movie story. >> it's not a movie story. nor does it want to be a movie story in the future, karen i think that, you know, the thought here, as tim had mentioned, maybe we should never view it as pre-pandemic, what the business was, where the business is going, because it wants to be in another business. adam aaron may have a little leeway to figure that out. >> he might. the story of amc surviving is a movie in itself, it would be a fascinating one. you know him as well as anybody. i agree with tim about him sort of issuing a word of caution to shareh shareholders he says it and people say it's perfunctory, th

places like telegraph, reddit.ere going to actually follow through on trump's directives to storm the capitol. and then from there, a lot of the planning that took place in plain view. there is a number of reasons that contributed to why the fbi and the cia and, again, all of our law enforcement agencies missed a lot of these warning signs, but a lot of them had to do with the president himself. he had sort of weakened and scared a lot of these apparatuses that would normally be able to snap into action. but you had someone like christopher wray, scared to make a public statement condemning and trying to scare away some of these protesters and, you know, i don't think they necessarily thought they were potential rioters at the time, but didn't want to put out a public statement because he was worried it'd incur the wrath of trump and aggravate him even more and cause him to make a public statement that would exacerbate the situation even more. i recommend you spend, viewers, 30 minutes of your time to go into this

the army of retail investors banding together on social media sites, like reddit and taking on wall streete funds to lose billions of dollars by betting big on stocks including gamestop and amc they have even made enough noise to cause the securities and exchange commission to look into some of the issues that they say are unfair to the retail investor cnbc's melissa lee has been digging into the apes for a documentary that's up on cnbc's news channel right now i watched it this afternoon, melissa, it's fantastic. what did you learn about this gang >> oh, shep, we learned that they are deeply committed and not just to amc the stock but to amc the movement to shake up wall street. it is incredible to think that 4.1 million retail investors now control 80% of a publicly traded company. it is even a shock for amc's ceo. who has seen the company's market grow from $750 million at the end of 2020 to more than $18 billion today. for this documentary, we wanted to hear more from the apes and i sent a tweet out asking to share a video telling me why they have invested in amc. most of their respons

right now and the silver screen is turning a deep shade of red at amc, yes, the wall street bets reddit crowds favorite name is down 10, call it 11% even after posting a much smaller than expected quarterly loss. just days ago investors were experiencing fomo with these names should they buy at this levels? let's get to scott shellady and scott full man. a bunch of momentum names considerably discounted paypal included tesla, time to buy these names or some we haven't just talked about but are getting hammered right now. >> you know what? there's this , a term for it. what happens when you're looking to buy a car, say it's for $10,000, and that car goes on sale for $6,700 or $7,200 you snap it up right away but for some reason when it comes to trading stocks we're always a trade and we don't get involved so when you get a discount on something you want to buy anyway , the best thing to do when we talk about equities is to jump in and do it because think about it. we've already got a record amount of cash out there right now. we've just passed a $1.2 trillion infrastructure spending bill

carrying them and this is a stock that all of the momentum players are buying, and it's on every reddit board you can find so much positive information about nvidia, and as josh says, it's taking over the unverse and it's going to solve everything and every company's future, but there are times and we have to remember this as professional investors for sure and it is taking over the world in whatever area it plays and you buy it at the top and had to explain that to your clients, institutional or individual clients after and do not have an answer to the question, why did you buy that stock other than that it was going up and it has an incredible future. that's not a good enough answer. >> i think, for example, moderna is an incredible company and the stock phenomenal, but if you paid close to 500 for it you might at this point say gosh, at 450, i should have waited before i bought the stock because you don't know when it's going turn and nvidia like tesla can go up another 50% or 100% in the next six months and then it can just turn around and go down because there aren't any more buyer

and we're talking to the founder of the now-super hot reddit wall street bets.ear. you've got to hear how he started this web site, how he watched it grow and the original winning trade that began to happen shortly after he founded it. it is a fascinating story. the developing platform that sparked a retail rebellion. listen on apple, google, spotify, foxnewspodcast.com, anywhere you get your podcasts. closing bell, 17 minutes away. the dow now up 208 points. we are watching every tick of this market. don't go away. ♪ ♪ carefully constructed. to go beyond ordinary etfs. and strengthen client confidence in you. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire bogeys on your six, limu. they need customi

every day we get more stories of institutional investors, businesses, social media like reddit, talkingbout moving into the space. very few people are talking about leaving the space or pushing back on it and i think that has got everybody excited is that more adoption is coming. >> speaking of being excited at the end of the third quarter $3.4 trillion of cash sitting on household balance sheets, really the most ever. does this serve as some sort of a backdrop for this market rally? as long as there is that much cash out there, is there sort of a safety net that keeps this rally on autopilot? >> yeah, i think so. i mean to put that cash number in perspective. it is three times what it was a year earlier. it, a lot of people didn't spend money during the lockdowns in 2020. all the stimulus checks. they have a giant amount of money in their checking account. it is showing up i think in one of two-ways. most is held by the wealthy. they're putting it into the stock market. why you're seeing the stock market relentlessly rally. the rest are buying stuff. that is why we have a supply chain

what occurs on robinhood and reddit on other blogs that start to focus various names i need to know that as it's happening and as a result i've been very cautious about shorting i'm very, very, you know, concerned these days that this theme, this idea of meme stocks is a flash in the pan and that's not the case if you want one of the best indeckes to watch what's occurring, simply download robinhood and put a few thousand dollars into it, buy some stocks and watch what happens it is probably one of the best sources of information you can get at the moment it's happening. and so, look, i have lots of other services and i read the research like everybody else and i'm not going to ignore social media and robinhood is part of the platform and same with paypal we have to get used to the volatility of these names and as a result, this concern about england and if they pushed that law there, every other broker will have that >> it's not just that. it's an overall view, and i think cramer said as much this morning in probably different words than i'll use now. there are multiple occasions, it se

shares are up 3.7%, now amc has risen, thanks very much in part to the wall street bets reddit room crowd. those retail investors who buy shares and then say we're never selling them, they call that diamond hands, adam aron catering to those investors lately by asking their opinion on some company decisions. amc shares up 1,753% year-to-date. wall street affirming its commitment to a firm holdings the buy now pay later site is up 15 nearly 16% right now after not only reporting a narrower than expected quarterly loss but an 84% increase in gross merchandise volume. a firm also expanded its deal with amazon allowing all eligible purchases of $50 or more on the site to be split into monthly payments for u.s. shoppers. amazon is flat right now. >> investors in another super- hot fintech revoicing at this hour, mobile first finance sofi charging higher in this final hour on stellar earnings, but with an exclusive hand in the biggest ipo of the year, is the current quarter , going to crush it as well? sofi ceo and yes, military veteran anthony nodo is joining us live next on how he handed his

they're getting from the reddit group and whatever other groups they joined in or facebook or whatever social media platform they use and i think it is going to play out. i don't think, i mean, for the moment you've seen the upside of it but basically i think what it does, it makes momentum stronger in both directions there is a correction because i feel that the same forces that push prices up relentlessly because of social media would cause the momentum and the downside to be equally and perhaps more proportionately much greater than it used to be. >> which is something, obviously, new issues need to bake into their models as they come to market we have rent the runway, today it's rivian. i'm looking forward to how you're processing or evaluating new issues or perspectuses any differently than in the past >> i think the difference is direct to consumers has always been a business. but what used to be local businesses have now become global businesses. the advantage of technology and breach and social media playing out. right now if i were to make a collective judgment, i think collec

health after it expires in stimulus payments and.ri mother's offer seemingly low cost or even free reddit, poised to capture this market share but while these products may appear straightforward, consumers and policymakers ask themselves, what is the cap? we need data to understand what they are, prevalence and whether further protections are needed. the testimony i've submitted for the record details are concerned for products including by now pay later from a third wage access in overdraft avoidance. my oral testimony will focus on by now pay later. in my state of california, financial regulator, department of financial protection intimation discovered by offering these products california consumers,ti certainy now pay later making it legally. enforcement actions against them and required licensing california. because they were licensed from theyir will begin gathering dat. we are awaiting public disclosure but at a d minimum, e know these products have exploded in california. the top six buy now, pay later lenders for nearly 11 million or 91% of the total consumer loan originated in 20

we love having you >> thanks, kelly >>> coming up, the rally in amc seems unstoppable as the reddit crowdack darling will any have their diamond hands turning back to coal we're back in a moment we now find that 85% of individual investors are interested in sustainable investing. among millennials, the interest is even stronger. ♪♪ one of the big trends in sustainable investing is data, and the ability to understand how sustainable your investments are. by taking that information into account, investors can make better decisions for the long term. sustainability is not about one number. it's about variables like water usage, data privacy, consumer trust, diversity, land use and conservation. all types of investors are now considering this in their investment decisions. this is not niche. one in four dollars globally is following some form of sustainable investing. with sustainable investing at this scale, there's power to change the markets and have an impact on the issues investors care about most. i am courtney thompson and we are morgan stanley. ♪ >>> welcome back, everybody. we've giv

tim has been a guest on my everyone talks to liz podcast this week we talked to the founder of the reddit street bets, jamie rog ozinski. okay this guy is in the sweet spot right now. you gotta hear what he thinks about developing the platform that sparked the retail rebellion known as the apes, yes, the meme stock craze. you can catch it on my podcast on apple, google, spotify, fox news podcast.com. a covid winter crumbling under the pressure of supply chain and driver shortage, that and more straight ahead, in today's pop stocks closing bell 40 minutes away, folks we do see this dow continuing to struggle it's still above 36,000 though even with the loss of 128 points, the nasdaq up 127. don't go away. everyone remembers the moment they heard, “you have cancer.” how their world stopped... and when they found a way to face it. for some, this is where their keytruda story begins. keytruda — a breakthrough immunotherapy that may treat certain cancers. one of those cancers is advanced melanoma, which is a kind of skin cancer where keytruda may be used when your melanoma has spread or cannot

it is up a hair-raising 1,877% year-to-date, with a run- up like that, the retail ape s army the reddit if they can reach behind especially with the ceo adam aron supporting the ape movement but he might not be the only one charlie gasparino about to break the story. charlie: you should point out that amc just turned negative whose been up about 2% all day. liz: okay. charlie: was up 4% yesterday. based on my story, see , when i write something negative about amc all the apes buy it, so i wrote a column talking about stock manipulation, of all these -- liz: let's see how big their power is can they turn it around charlie: maybe, i don't know who knows but in any event, it is kind of an interesting thing going on, on top of everything else that's interesting with the stock. a short seller, coming to the aid of the ape movement, i guy named mark kahotes, long time short seller now kind of like out of the business, he runs a chicken farm in california. [laughter] liz: somebody has to. charlie: maybe he buys corn from adam aron. liz: popcorn. charlie: feeds his chicken popcorn, it could be

wall street reddit shut down, went from eight viewers to 1000. i am youtube. i figured out media.hat was the start of the start. gamestop went haywire. amc went haywire. we're so far down the rabbit hole and micro structure of the of the stock market and leave retail out for scraps on the street. charles: that is the most important thing. the determination to do it. not like people are really going to a casino as wall street americas it, at least financial media. i will start with a video question from colleen. >> charles, thank you for taking my question and thank you for everything you do for retail investors. if companies trade in the dark pool, my understanding that the reason they do this is to prevent volatility, via large trades from market-maker to market-maker, broker to broker, creating volatility in the stock how is it that they are allowed to trade in the dark pools but also trade the same stock openly in a short on the market? charles: fantastic question, colleen. matt, how are they pulling this off? >> so with that i think this is a great question to highlight the co

. >> that was not the reddit crowd, some guy who are $10 billion working out of his office -- where was he was. >> that was a prelude to the year, to the z zanyness >> hey, listen, i would sell high, buy low. it's about stock, right? >> yeah. >> don't confuse things. it's about the stock, not the company. that's the year, 2021, it's not about the company, it's about the stock. >> to that point you've been pretty good telling our viewers what a good seasonal period the last five days have been, and we're up four for four >> i went back to larry williams, he's a great historic of the markets, saying stay the course it's a bit early to get off the horse. we have the fed today, and the fed will do something that i think is not antiworker, because that's jay powell. i think what's happened is we keep expecting him to low irthe boom he's learned his lesson. don't lower the boom don't do anything where it says, it made the fed kill this. don't do that. >> so what does that mean? taper is not enough? >> although dudley without an opinion piece this morning, arguing the fed may have to do more t

become a big event this year we have seen tremendous trading in 2021 around meme stocks, around the redditwd. we usually talk about quarterly expirations, but monthly and weekly options have seen tremendous growth in the last 7, 8, 9, 10 months. stocks with lie open interest, ones you would think of, the teslas, the apple also, the fords that are out there you said to keep an eye out on smaller companies, carl, where there's been a lot of interest moves around in the last few months it's hard to say whether it will affect the underlying stocks at the close, but definitely more interesting on these monthly and weekly options expirations people have plead money this year, so far it's been a tremendous trade this year. >> as we go to break, time for the bond report. yields down pretty much across the board. two-year got down to 44 basis points inched up just a bit out of the headlines out of sdwrurmany. germany. but definitely taking. i'll shoot you an estimate as soon as i get back to the office. hey, i can help you do that right now. high thryv! thryv? yep. i'm the all-in-one management sof

it's soaring on reddit wall street bets and surging because of that and up 54%. >> e retailer. >>> time for a news update with rahel solomon. >> here's what's happening airports not the only place to see a surge in new travelers as restrictions ease. land crossings into the u.s. from mexico and canada are busy including here in san diego. the mayor saying the end of the travel ban will help the local economy. >>> four astronauts on the way back to earth. they have been on the international space station since the spring and expected to touchdown in seven hours and the replace. s could launch wednesday night jirngs kareem ab dull gentleman bar calling packers quarterback rodgers a liar why he say that is rodgers is bringing back the stereotype of the dumb jock with the response to the nfl's covid vaccine mandate and he said harming all professional athletes and the reputations by ignoring scientific evidence of the coronavirus. you are up to date back to you. >> rahel, thank you so much. >>> regeneron said the antibody cocktail provides protection against covid-19 meg? >> hey, regeneron

because the reddit crowd is all over it and buying it, pumping it up. it is a meme stoke. tesla way down, 3% lower. elon musk says they haven't actually signed the contract with hertz foredelivery of 300 vehicles. time is up for me. neil, it is yours. neil: thank you very much, stuart. we're following all the anomalies. big, big campaigns going on throughout the country today. certainly focusing what is happening in virginia and in new york and of course new york city. mayoral race. don't forget about new jersey. we're focusing as well on very big guests, we'll weigh in on what is at stake today, including former secretary of state henry kissinger, why what the president is doing halfway around the world committing all countries to spend a lot of money. he has his doubts whether that can be realized, getting the results the world wants. harold ham, fossil fuel billionaire kingpin, what he makes of the message that all these leaders are send about fossil fuels and likely higher prices for you. meantime, go to to with the alexandria hoff with the youngkin campaign. reporter:

bottom line is you cannot be large in these positions if you need to get out of the way quickly of the reddit the meme traders. they don't necessarily start with the question, what is a really good company? they sometimes start with the question of, who do we hate? who would be honest by my buying this? so when you are in that and -- who would be punished by my buying this? so when you are in that environment, be small, nimble and manage risk. it has always been about risk management, but never more so than now. lisa: there has also been a huge trend with the discussion about moving into esg and putting money into greener companies, greener types of technology. i think about some electric vehicle companies that have gotten completely pumped up, not just as luck, but rivian, which just ipo'd. this idea that it now has a market cap as big or bigger than ford even though it has only delivered a couple of cars. is this a concern, or is just just something specific to the moment, that you don't want to get in on one way or another? carson: we have done some shorting in that space. so i think -- th

some of the stuff occurs on reddit and all the message boards, they keep talking about the mother ofto come if you do the digital dividend you might get a short squeeze. it's not coming. there is no evidence at the w squeeze. it sounds a little fishy by the false claims of a mother of all short squeeze. it's probably a book. david: the most point you've made so far is the insiders are selling and probably the only way to get the stock because this been hovering around for a while, it is down today on insider selling. it's probably coho this is plan, will see if i happens. david: i have to ask this question but were getting into the weeds. what is happening with the company, are people going back to movie theaters? >> people are going back to movie theaters, more now than 2019. if you compared to 2019 and 2018 and 2017 the trend is down significantly, why is that. i don't think it's just covid anymore. you really want to sit in the movie theater and have a guy talk on his cell phone and kick your seat when you can do it at home. if you go to the movie theater for the popcorn they will

because the reddit crowd is all over it and buying it, pumping it up. it is a meme stoke.certainly focusing what is happening in virginia and in new york and of course new york city. mayoral race. don't forget about new jersey. we're focusing as well on very big guests, we'll weigh in on what is at stake today, including former secretary of state henry kissinger, why what the president is doing halfway around the world committing all countries to spend a lot of money. he has his doubts whether

reddit is at least vaguely about ideas, butde instagram is about social comparisons and about bodies. it'se about peoples lifestyles. a number of things are different than what high schoolig used toe like. sot when i was in high school i didn'tte matter if your experies in high school was horrible. most kids t had good homes to g home to, and they could at the end of the day disconnect. they could get a break for 16 hours. facebook's own r research says w the bullying follows children home. it goes into their i bedrooms. the last thing they see at night is someonen being cruel to them. thee first thing they see in th morning. >> some of your answers were quite complicated. so perhaps you could tell us in a really simple way that anybody can get what facebook could do address thoseto issues, childre to the want to kill themselves, childrenen who are being bullie children obsessed with their body image and not in a healthy way, what is it facebook can do now without a lot of difficulty to solve those tissues? >> there are a number of factors that interplay and drive those issues. on a b

. >> getting a lot of traction with the wall street reddit crowd. stuart: exactly.meme stock. futures, check 'em, please. a nice gain for the nasdaq coming up today. >>> harold to believe the -- hard to believe the president's pick to oversee the banks wants to get rid of all private bank deposit accounts. watch this. >> there will be no private accounts, and all the accounts will be held -- the. [inaudible] stuart: saule omarova facing lawmakers on capitol hill this morning. should be some fireworks there. inflation and supply chain disruptions, the ceo of gioia said he had no choice but to raise prices. the ceo of gioia next. ♪ i'm lost and i'm found, and i'm hungry like the wolf. ♪ straddle the line -- ♪ i'm on the hunt, i'm after you ♪♪ ot this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones what's strong with me? what's strong with me? let's partner for all of it. what's strong with me? what's strong with me? with me! with me! what's strong with me? wi

stocks the moves appear not i entirely to be part of the short squeeze and the meme phenomenon and reddit with options take a look at one week charts of avis and bed, bath and beyond avis jumping about 70%, bed, bath and beyond surged more than 70% in afterhours trading on tuesday. still up 37% and even a chart of tesla from last week when it joined the trillion dollar club shows a 33% jump for more we're joined by gunja and jj kinhan. you're well suited to this discussion you have written about options extensively, i introed the segment by saying, i get it, but -- i used to be in that business, it's always been the tail wagging the dog when you see the underlying stock move and what's happening but that's not what's supposed to be going on options are effective in doing a lot of things but they're supposed to be based on the underlying stock the option itself and activity there isn't supposed to dictate a tripling of the underlying shares that seems like there's something amiss and maybe too much money around or someone is gaming the system. >> i mean, what a wild year, as you pointed ou

the video being viewed nearly 3 million times on reddit.g never bring a sword to a gun fight. unclear what happened after the video cut. a california school district post unanimously not to support, enforce or comply with the state's pending vaccine mandate. the school board doing so despite possible repercussions writing, quote: the board is aware of the potential impact in terms of possible liability, exposure, funding, other formal actions that can be taken against the district in response. president biden facing backlash for a comment during his veterans day address. listen to this. i have adopted the attitude of the great negro at the time pitcher name was satchel paige. >> biden's choice of words landing him in hot water the remark came white biden was attempting to wish secretary of state tony blinken's dad happy birthday. steve: part one with senator tim scott. rachel: he also spent the day with him in his hometown of north charleston south carolina. >> i got a chance to speak to the senator and talk to his constituents one-on-one u

>> yes, senator, we are reddit or two -- on the youtube platform. >> the american academy of pediatrics says to create a national state of emergency around children and teen mental health. we need to outlaw the online features that exacerbate this crisis. the question that we have to answer, ultimately, is whether or not, for example, we are going to ban auto play for kids. the feature of when one video ends another one begins, it could stay glued to their phone so the apps collect more data and make more money. 82% of parents are worried about their kid screen time. to each of you today, do you agree that congress should ban auto play for kids? yes or no? ms. miller. we will start with you this time. >> yes, senator, each of the items you are outlining, we already prohibit. we have auto default set to auto playoff on youtube kids as well as for supervise experiences. >> so you would support that being legislated? >> yes, sir. >> mr. beckerman? >> we have take a break videos and time management tools, senator. but as it relates to time management on tiktok -- >> so would you support tha