. >> i was on reddit. i go on reddit, wall street bets. today, they were featuring the turtle.k that gamestop won here, the bears are going to be in retreat, because now ryan cohen, which has -- he has total control of the money, has $3 billion to play with, so what i think he would do -- he never listens to me at all or throws me an ice cream cone or good humor, i don't know. but they have the money to write a check to any mall in the world. they do have 4,000 stores. they could get out of every lease, close every single gamestop by my take, for a couple billion dollars and start over. and that's just unbelievable. so, my hat is off to what they did in terms of being able to take advantage of the -- >> to refresh people, they were doing an "at the market" offering led by jeffries. they had been raising money for the company. this, of course, as jim pointed out, since the stock rose dramatically. now, by the way, they did 45 million shares and raised almost a billion dollars. then, they did another 75 million, which they've now completed raising, as you just said, about $2.1 bi

now, it is reddit.r what is next. >> maybe he posts a youtube video again for the first time in three years. the main thing that stands out to meet is the may flurry lasted two days and quickly gave back the bulk of the gains. gamestop took advantage of that. can keith gill find a way to keep momentum going into earnings, and whether this is going to be a flash in the pan that lasts two days or does he return to youtube and bring back a number of retail investors given how different the underlying dynamics are now compared to early 2021? caroline: for now, other companies doing well on the back of it. great to have you back on the show. tesla issued a statement against the i.s.s. who is on his pay package, elon musk, after the proxy urged shareholders to reject the pay package. there is a long statement all regarding a 2018 performance award that ended up being ginormous, but largely because of the market capitalization of tesla and the stock share performance became phenomenal. >> this award five years

they're afraid of the redditers. respect the redditers, wall street bets, because they got a stock up on a company that i think is not worthless but really bad. it's a moribund homage to hard video games, and i look at that, and i say, before i make a judgment on that, i say to myself, you know what? there's a considerable cohort that is amused and that it's okay to be amused. we don't think so. we don't think that amusement should play a role in stocks. maybe i'm just old. maybe i don't see the fun in stocks. >> but you're saying the entertainment value is part of the value. >> yes. that's -- that's better than i put it. >> this commingling of gambling and investing? right? >> yes. >> for lack of a better word. >> this changed everything. robinhood changed everything. remember, they got -- they made it fun. they made it exciting. they made it -- i mean, look, if you go and you talk to jason robins, i think jason robins would say, listen, my draftkings is far more serious than their robinhood. but robinhood got away

from a reddit room. do you include that kind of stuff? the reddit room stuff? >> no, no.l so it depends. listen, there are certainly alternative data sources that sell and transact on reddit. i think it's a matter about judgment and empowering finance professionals to select the sources that they trust and creating tools that allow them to identify information they wouldn't necessarily tend to otherwise. flexibility is the name of the game. liz: can it turn the source information into original writings, original work? >> yeah, for sure. so we connect fact patterns across hundreds and thousands of documents so if you have, if you believe that semig.lutides are going to blow up the diet industry, i want to be the first person to know about a human clinical trial and understand the structure of a value chain and connect the dots that others might miss is a central part of what our tool is able to do. liz: you got the $6 million inside funding. what do you plan to do with the money? >> we hire incredible people. we're building a small team of exceptional humans. liz: let's sa

or on twitter or something. >> they said it's in reddit. >> they said it's in reddit. >> it's in redditthe guy. >> that is true. actually. it is true. you get anonymous people. it means nothing. >> but you know, what i said is that when a guy when you see a guy reach for stars in the sky, you can bet that he's doing it for some doll. >> wow, you just turned into. >> wow, you just turned into. >> is that from a musical? >> is that from a musical? >> that's from a musical? exactly. that's from guys and dolls. >> oh, guys and dolls. >> oh, guys and dolls. >> i think he's been going to church services and studying the bible. some god's going to get in, isn't it ? bible. some god's going to get in, isn't it? a bit's going to seep in. at some point he's going to have some guilt. maybe this is the beginning of the end because he's starting to have some some morals . some some morals. >> the bitdefender message says, i don't give a bleep about jesus. and that is a very risky strategy to be dissing jesus. >> i don't recommend country people don't. but you should. you should never. here's my advi

you don't know what's going to come down the pike, because reddit is a unique business model.which i'm somewhat afraid of, so fundamentals go out the window, so i would hold it if i had it. it's done decently since the recent ipo. the other interesting thing about reddit is that its data, it's got tons of data on all the people that are on the conversation boards, can be valuable to a.i. firms, so that's maybe a hidden asset, yet i'm just unclear on the business model, and i'm just not comfortable with its uniqueness yet. i think we need a few more quarters of earnings reports and learning about it. >> i'm surprised you're even looking. i thought it was going to be an instant no way, jose. chris, thank you so much. >> yeah, maybe. >> maybe. chris gisanti, thank you. "power lunch" will be back right after the break. >>> welcome back. after payrolls this morning, you see how stocks started negative on the session but quickly moved to session highs, the s&p moving to all-time highs, really, and we're now kind of with the dow up 40 points, a little bit in the middle of that range.

the only person in america who did it... ..it had sourced that little piece of information from a reddit, when they were reading it, could understand in context that the person was making a joke that to keep the cheese from sliding off your pizza, you should add glue to the sauce. google sort of couldn't understand that this was satire, that it was a joke... so, not great. i mean, ijust should bring in... well, google have said about this, because they've told the bbc, these were "isolated examples, generally very uncommon queries, and they aren't representative of most people's experiences, and that the vast majority," it says, of ai overviews provide high—quality information with links to dig deeper on the web." and it said it's taken action where policy violations were identified and it was using them to refine its systems. just in the last couple of minutes of the programme, let me ask a further question about al, and it comes down to when big organisations that have content, like the atlantic or the spectator or the mirror, decide whether or not to share all of that content with the

. >> it's a situation where reddit, the reddit forums, where the meme stocks were big in 2021 and thisas all taking place, on reddit, there is a lot of pushback. kate who came up with the story yesterday was showing how the moderators are pushing back. the people in the forums were the ones left holding the bag. >> there is someone on the other side of all those trades. if you are keith gill, it's great that you have followers that do that, but it eventually gets to the point -- i don't know. it's a brave new world. it's the wild, wild west of pump and dumps. >> i get the concern going after the short sellers. what he's doing, if this is the case, is leaving yall of his followers. >> should he be penalized for blockbuster? >> no. i can understand elon musk's frustration with tesla shorted and saying we're trying to survive. >> that's is different than the meme stocks. what's the bullish scenario for gamestop? >> i don't know. maybe they figure out a way to really do -- >> based on squeezing the shorts. that's all it's based on. isn't it? >> i think so. i think there could be some under

our data is very positive on reddit. >> are you able to gauge income group? >> absolutely. started to see the consumers earning less than $50,000 having to pull back. in other words -- >> in other words they are frugal by choice. >> right. the reservoir they had coming out of covid and the government support kind of hit a wall, so for the first time we started to see this unfortunate thing where the affluent consumer was fine and doing better, but the consumer earning less than $50,000 was having to stop and say, i can't afford to buy as much as i used to. we saw that in october. he saw that in the first quarter results, second quarter results, that fork. >> people have to understand goldman sachs. let's bring that into play. there is a recognition that a lot of companies are afraid to hold prices back because that might hold them down in a different department. from the old days. is it possible that if you don't rollback, you get left behind? >> yeah, absolutely. as you know, we have a partnership with goldman. they have been terrific about bringing that customer dimension

. >>> shares of gme soaring after a reddit post by roaring kitty. deep "f'ing" value. i'm not sure what that means. you can see the last move. a couple of weeks or so, we will see if it continues. that was after he just put a meme of him sitting up in his chair. this has to do with the size of the position. the reddit post showed a stock portfolio of 5 million shares of gamestop worth $116 million. the account showed a position of 120,000 calls in gamestop. call options with a strike price of 20. these expire on june 21st. bought for $5.68 a piece. >> holy cow. >> well into the money right now. the post could not, though, be independently verified by cnbc. notably, he did not post in the wall street bets chatroom that he frequented during the meme stock mania in 2021. gill's x account posted the image of the reverse card from the game uno. i'm glad i'm not trying to figure this out. i'm glad we can't do anything. i'd be confused. >> yeah. >>> we are also talking about the chip wars heating up. the processors announced in a surprise move yesterday. jensen huang announci

game stop shares going through the roof after social media stock analysts posted on reddit.has a $116 million bet laid down on gamestop. shares in the retail gaming outlet initially soared by 74% before dropping back to about 31%. it was the first post by roaring cutie on reddit in three years following the huge increase in gamestop shares and the subsequent crash back in 2021. the so-called meme stock trading frenzy was immortalized in the movie "dumb money." there is still lots of dumb money out there, sandra. >> sandra: risky business. >> john: you think? >> sandra: i guess gamestop -- all these meme stocks, amc is way up, r redditi don't know. >> john: everybody's buying games online these days, so how long do brick-and-mortar gaming companies have? >> sandra: your money, your decision, right? >> john: according to roaring kitty, they have a lot of life left. >> sandra: it's amazing to watch, that's for sure. we have brand-new information coming out of the courtroom right now on hunter biden, and update just coming in that the first lady has just left the courthouse. the

this all comes after one of the reddit users at the center of the meme stock craze revealed he owns a large number of shares in the video game retailer on wall street. overall, stocks were mixed as investors await a government report tomorrow on jobs. the dow was down more than 115 points. the nasdaq was up 93 and the s&p was also slightly in positive territory. >> doctor anthony fauci returns to capitol hill to push back against some lingering criticism from the pandemic. >> the second issue is a false accusation that i tried to cover up the possibility that the virus originated from a lab. >> still to come, the results of a tense back and forth in this senate hearing and the oakland ballers are getting ready for their home opener. >> but the question is, is kland ready for he ♪ we're in the middle of... seizing the date! ♪ in the middle of... trying new things! ♪ in the middle of the perfect pairing ... and parking it here for the night! ♪ so come get away... together... to the incredible, unforgettable illinois— the middle of everything. ♪ baseball team is getting help from volunte

video was posted on reddit. to the post, doesn't look like he had his clipper card with them. alameda city council, they stop the controversial climate project. it would have had scientists injecting salt into the clouds, the project and also the effects of global warming. scientists say the saw the drive clouds increasing their reflection of sunlight in reducing the amount of heat it is or by the water below plans to start those experiments that have been in the works since earlier this year on the watch of scientists from university of washington. but the city intervened this week. staff and in the city didn't know anything about these experiments until. >> we learned about it from a new york times article, the that the experiment began and that was in late march of this year. so after hearing from concerned residents, i sure my colleagues reached out to a city manager and said what if we know about this? and the answer was nothing. researchers behind the program say they are disappointed the city's decision s

this video posted on reddit.he user says that this as sneaky passenger was spotted on the quay line out civic center and they said >> maybe you got out of some of these backpack because i don't think it's native community. i just said. ahead of when i came never buy. he'll find his way home, i all right. let's get over to the weather center. we have john standing by with the forecast. he was made in little corner over. there was a father ing in the wind. well, hey, it's opsunny in san jose this morning. good weather to be getting outside and making your commute in. >> we are seeing a cooler morning and we're about to see a cooler afternoon for pretty much everyone we are seeing daytime highs today being affected by a cool sea breeze that's kick back in. and this high-pressure ridge can on the outs for a little bit of weak trough. rushing right past us is also bringing in a cooler air mass. all these factors are lining up to temperatures this weekend, mostly topping out in the 80's next week, though, we do make a

i looked it up on reddit. any takeaway? no, it's on reddit. what's it say?at while you were away, jim, were strategists upping their targets for the year, in some cases to 6,000. evercore today, even stifel, which is not constructive, says it might melt up to six. >> we don't want that stuff, and i don't think it's going to happen, and i think we're going to mark some time. we're going to get the quarter soon, for heaven's sake, and let the quarters tell us. obviously, there's a big problem in the market. there's this cohort of 300 to $500 billion, and then there's the trillionaires and we don't have enough in between. if we had more broadcoms at $800 billion, then i think we would say, wait a second, it's all right. i mean, i was trying to describe how the value nvidia this weekend, and you come back and say, listen, apple and microsoft, you have phone company and a company that has a great but very competitive situation with datacenters, with cloud, and those guys are all duking it out, amazon, and we know that you're well, if you're making this bet, you'r

as she was in the red, she was unable to play in final jeopardy but did take to reddit to tell her sideed up to her own issues with the buzzer, calling it uniquely frustrating to know answers but not be able to ring in for them. while she first called it a day to forget, she still called it a good experience. this is not the all-time lowest score. that was set back in 2021, with minus $7400. >> so she missed that one by 300 dollars. just a bit. >>> up next, summer travelers are setting new records at airports across the country. and a little less conversation. a little morbidie bidding on th blue suede shoes. g on the blue suede shoes. [thinking] why always the couch? does he need to go to puppy school? get his little puppy diploma? how much have i been spending on this little guy? when your questions about life turn into questions about money... there's erica. the virtual financial assistant to help you spend, save, and plan smarter. only from bank of america. try killing bugs the worry-free way. not the other way. zevo traps use light to attract and trap flying insects with no odor an

this is video was posted on reddit.o shared the video of the sticky passenger says it happened on the quay line outbound from the civic center. a little snake there was spotted a few days ago, according to the post. i don't know. it doesn't look like it's really harassing anybody. just 12 for free, right? how do you feel about snakes? are you definitely afraid of snakes? you know. >> i i'm going to say yes, like, but it looks like it's a garden snake. so. yeah, it will get your to what is the one creature that would like really freak you out if you are stuck on a bus with it? well, probably a shark. shark baby mine is a fair, okay. i have i have a history with parents at all particularly care for to get into the specifics on that. but we were just trying to kill some time for our producer there. but that wraps it up for kron. 4 at 5 vicchio is telling how the sausage is made. that is hit for this hours. she said, but there's a lot more news to get to coming up. >> on kron, 4 news at 6. yeah. coming up next hour, a major

> reporter: an online community gaining attention with millions of views on tiktok and a thriving reddit community supporting those trying to resist the urge to splurge. >> we spent at least $1,000 eating out every single month. this is why we're doing the no-spend challenge for the month of june. >> anything that gets people to be more thoughtful about their spending is a good thing. if it comes from tiktok, that's fine. >> reporter: some vowing to go as long as a year buying nothing but absolute essentials, foregoing clothes, gadgets, fancy vacations and dinners out. others doing it one month at a time. >> the pit fall is maybe it's a flash in the pan and you might do that a week or two weeks. when it's over, you start revenge spending. >> reporter: it comes at an interesting economic moment. a pandemic-era spending boom that landed americans with a trillion dollars in credit card debt for the first time last year, with delinquencies now on the rise and an economy that's leaving consumers with mixed emotions. >> while the headline numbers tell you unemployment is really low, the econom

. >> till now, there hasn't been any action from his account on reddit.t changed over the weekend. >> reporter: showing off a screen shot of a new stake in gamestop. 5 million shares purchased for $21 per chaishare. and posting a cryptic reverse uno card on x. g his trade could be worth over $300 million. prompting questions from analysts. >> his last summary of what occurred in his yolo update as he called it, he had about $30 million in his account. now he has roughly $130 million. so it makes you wonder, is there some sort of outside investing going on? did he just make some really great trades elsewhere that he's now putting into gamestop? >> let's explore a bit further. >> reporter: the gamestop squeeze saw social media users banding together to purchase the stock which soared as much as 1,000% propelled by his online analysis, gil loved by those across the internet, defending his methods to congress in 2021. >> the idea that i used social media to promote gamestop stock to unwitting investors and influence the market is preposterous. >> reporter: th

the post, it was not on the famous wall street vets forum on reddit. joking about meme stocks. the moderators admonishing keith gill writing three years ago a bunch of people, as they put it, flooded here to be part of a trade because, quote, we were all stuck inside and had free money and it was funny, as they put it. many people ended up holding the ball and they said that's not what we're about and they want roaring kitty to take the gamestop sheen in begans elsewhere. good luck but your whole schtick and disappearance really, quote, f'ed retail up and it would be nice if you didn't leave them on a cliffhanger. maybe some warring factions on reddit. >> what is the reverse uno card. that's what he posted, right? >> yeah. >> the company tweet was a reverse. we could spend all show analyzing this one. it's the same thing. it's sort of if you looked at it, it has nothing to do with gamestop. these are plooems, the same thing his first post was a video game player leaning forward in the chair. i won't attempt to take a stab at it. anything he posts is se

union, well, yes, they know how to create a holiday, and so what, and after that, it remains only to reddit mobile phone has been issued, and there is also a taxi, metro and public transport. you can go outside, there are people on the street, cars are driving, this is about endless western speculation that literally everything is prohibited in north korea, what have you seen? we were given phones with access to the internet, here you can access social networks and telegram channels. yes, they will be taken from us. this is a business, temporary, phone that you can use. north korea is not such a closed country. there are even taxis. we with you went to pyongyang last year. do you remember, together with sergey lavrov, when this trip of vladimir putin was probably being prepared, you shot a big report. there are taxis and public ones here. transport and metro, yes, but now the report is no longer made, so as not to show how majors walk again, they just tell that there is a taxi, there is a metro, there is public transport, that kind of thing. achievement, what is simple, i don't know, hide u

i get my bulletins, a lot of it's -- a lot of it is silly, but you need to know what people on redditw what ryan cohen's thinking and what roaring kitty is thinking. keith gill. they're factors. they're certainly more factors than half of this stuff that i come in with. >> we didn't get to discuss the scotus decision yesterday about s.e.c. in-house proceedings. the other is how many google searches reference reddit, and this rosenblatt downgrade at google has real questions about search. >> yeah. look, i mean, the stock c's had big run. people are unsure about what's going to happen with search versus gemini. i think search has gotten in better -- i'm tired of bashing alphabet, because every time i've said it's almost over, it's found a new way to make money. they're very smart. you're underrating ruth porat if you're saying something bad about alphabet. >> well, it's barton crockett, who i know you like. he talks about nascent signs that bing has taken some share. we know what's happening to search at retail, walmart and amazon. may be a higher than expected capex cycle. >> it's poss

the person who posted the pictures on reddit says they saw the animal thursday afternoon and reported it to the fish and wildlife department. we're going to keep working on this story and bring you much more at 11. crews are battling a fast moving grass fire in alameda county. video from an alert wildfire camera shows a large plume of smoke. firefighters say it started as a control burn around 230 this afternoon, but winds caused it to get out of control. here's a time lapse from the past half hour on an alert. california wildfire camera. this is happening not far from the livermore lab, just off of west corral hollow road. it's a fairly remote area, and we have just been told that we're updating the number here. 946 acres have burned. that has doubled since the 5:00 news report. crews say it is 40% contained. well, the sat canceled more than 1000 high school students who came to the downtown oakland marriott to take that test are going to have to not take it now. they were sent home. yeah. it's the latest frustration for parents and students who say it is nearly impossible to registe

taki matters into their own hands or know hiring a sitter off some website or, finding somebody on reddit or, you know, instagram becomes kind of their guide. like the reality is this is already happening. vironment where people perceive that the legal of acquiring or growing and selling these compounds is relatively because law enforcement is a lot more with far more addictive and destructive drugs like opioids. i think that is really the world as it exists you know people are going on these retreats these t experiences are being commodified in ways that are strikingly open considering these are still schedule one drugs and are putting their faith in this in the compounds and in the people. these experiences. but i do think there's room for lawmakers, for policymakers to start grappling with these questions, they have to do so in. the context of a crisisries of scandals. i think that, would not be the ideal setting and environment to have these difficult and nuanced conversations. so i the earlier people start really kind of grappling with how know, how should this be regulated? and, you

we talked about this with the reddit ipo as well.ple who understand businesses like a reddit or a gamestop, they think it's something they can get in on for the lulls. everything the internet touches, right, turns to lulls. that's what you saw in the comments that were rapidly going into that live stream. at one point there were 644,000 concurrent people tuning in to that stream. >> i'm watching right now, i didn't see it. and he -- yeah, looks like fun, i guess, but there's the 8 ball. it is a little bit crazy. how many times can you go back to the well with, yeah, i'm crazy and i'm buying and it's going to go up 40%. i just -- sooner or later t, it like buyer beware, it's not going to keep happening, is it? >> i totally agree with you. if you look at his twitter account, he only posts memes. his last one was a screen shot a clip from the movie batman the dark night. even at the beginning of his live stream, over 50 preminutes that live stream a big chunk of it was him laughing uncontrollably at himself as he put band-aids all over

and this is a video from reddit. a user shared video of the sneaky passenger there.e. happened on the quay line outbound from civic center. the snake was spotted a few days ago, according to the post and i didn't write this is a good line. now it doesn't look like he had his clipper card with him. well, maybe yes. >> maybe it's inside maybe an so it's going you're going gross writes, going regurgitate, know, hard. i actually wasn't going find your snake. taken just like slither of the thing. it probably could read it. where was samuel jackson? when you need it? he's able to sunday things on the but he that's him. that's that even better brothers are universal or my is out. alright, that's going things up for us here at 10 o'clock. but stay tuned to the news at 11 first, it's sports night live, though. we've got ben ross here with a look at all things sports. any snakes? yeah, not that i know that may all the mariners and a's, though, for sure. and they're young a's. >> who has roots in the bay area? we're going to tell you all about alameda ryan who pitched against t

. >> or reddit.oes on reddit and finds some psycho. >>> we told you the fdic was expected to reject the citigroup living will plan in the event of a catastrophic failure. now the fdic board has rejected the plan in a vote behind closed doors. this appears to concern regulators. the move will be symbolic because the fed is not expected to follow suit in rejecting the living will. business limitations on sdi would kick in if both regulators would agree to the bank plan it is deficient. this story doesn't compare to the lead story in the juournal which we will not mention to you. in upholding the tax on foreign earnings, it opens the door to taxing unrealized gains. the lead in the journal talks about it. if the court is so conservative, where are the conservatives? five justices with the opinion written bring kavaunaugh. he did not say anything on whether unrealized gains could be taxed. justice barrett wrote the dissent. closed the door. they could have done that. now it will leave it open and a lot o

tyrus in airport lounges and exclusive lounge as you know whether reddit post brings up should childrenrently they are noisy and messy what say you, you travel. >> it's not about the children's bad parent should not be allowed in the lounges do to wear tank tops and shorts on a flight shouldn't i can take my children anywhere let me break it down as a black parent we say things like i hope everyone behaves like i wish him by would act somebody give me a reason to go to the men's room and everyone of my kids going it ain't going to be me and they act like little angels. if you have good parenting your kids can go anywhere that parents should be kicked out. [ cheering and applause ] >> jamie do they have lounges and at greyhound? >> yet so lounge and bathroom combination. i took my kids to the alaska airlines lounge and when my friend goes where they will behave i said i don't know i left i drop them off hopefully. >> greg: is a great place to leave them like daycare. free food some really nice lounges some of them of showers i was in when the other day i wasn't feeling good they had a nu

less convinced using twitter/x as a huge treasure-trove just as i am reddit. number of stuff that sometimes is special, sometimes it's not. that makes a little less sense to me. >> they have a new service. actually had it for a while on twitter. it was ignored called community spaces. i don't remember exactly how many people there are on it, but a community, they out-source, crowd source opinions. you have an opinion about a topic and someone posts that on twitter or on x, that is contrary to your belief, you're notified by community spaces if you're one of these 70 outsourced people or an interest, post on it before, you're notified this is han posted. do you think it's accurate? it's outsourced. a very large percentage of, you know, postings have actually been taken down by the people who posted them when they've been criticized for being false. so you are having a truth-seeking opportunity here. and that -- that data they're going to have is going to help robotics for tesla. so everything feeds each other. every single thing he does is helping everything el

million position in game stop which reinvigorated the so-called apes who back in 2021 followed on reddit and piled into the stock. let's look it over. if you want to see some spread here. robin hood, it is getting its own bump on increased trading or retail investors like the mean traders. the stock already spiking on its own countdown. coming up on the claimant countdown. the big crypto exchange purchase he made and action from what he thinks of this latest emergent not just the main stock but the news about the lifestream tomorrow. coming up in just a few minutes. bottom of the hour we will see him then. to the markets. a mixed picture here. the s&p also close to turning positive. yesterday closing up fresh record highs. crossing an unchanged line today alone. 115 times. we have tomorrow jobs report. a lot of indecisiveness. any gain will mark for the s&p the 26th record of the year. for the nasdaq, the 14th. enclosed is even higher, a fraction higher. you will see both of those in the records books once again. ai powerhouse back below $3 trillion market cap level which it hit for the

are set to pop this is afteris after gamestop d 20% higher at keith gill posted a screen shot to reddithowing a $116 million position in gamestop and an options bet as of friday's close. gill confirming that position yesterday in a screen shot after the market closed. the positions have not been independently verified by cnbc. the fund for kitty is reporting that the morgan stanley platform is looking to ban gill over possible manipulation. the report adding no decision has been made, but discussions have been ongoing since gill resurfaced three weeks ago. >> you referred to him like kitty as kitty is his last name. >> it seems it is. >> silvana, thank you. we will talk about this and more with jay clayton later in the hour don't miss that one. >>> turning attention back to the markets which got off to a sluggish and uneven start in june investors may question the strength of the u.s. economy as data shows manufacturing activity weakened last month the ism index slipping for the second straight period in may. speaking on "closing bell," rob effort kaplan says this conflicts the path the

the return of keith gill on reddit. katie: again. >> just a few weeks after his return to x. we saw the stock up at one point, 75%. the return of keith gill driving interests. a number of that coming on options as long as the stock trades above $20. but reiterating his willingness to buy into the stock and drawing out some trader demand. 75% gains dropped to 24%. when you look at where the stock has been trading, still well below where it was trading just last month. can there be another driver to drive this as opposed to this one-off movement? katie: that's a great question. we will see how this turns out. he does have money where his mouth is. we'll see how this one evolves. tell me about gsk though. >> underperforming here in u.s. trading 7 billion pounds of value after a blow for its potential zantac legal risk. after the state court that the company and a number of drug makers have to tier and be brought into some of those rulings around potentially 75,000 cases alleging zantac causes cancer. looking at the bloomberg intelligence quick reaction, they teased out at the co

. $60 million for the ts to everything on reddit per year.uthors and publishers should i'm very happy that those 40 lawsuits are going on. and i think that eventually will work its way through the courts and be rve until then, we're going to we're going to just our way through it. and i think it's still very early days. i'm not not really, yous know, i don't think it's worth going to defcon five about just valuable tool. it's definitely going to make us more going to help us, you know, process and gather informatind w workers to do a higher level of work that's more interesting and creative for them. but ■ral■zl yof the caveat to sy and we have to regard it with caution, i personally don't think it's going to blow up the world, but, you kni ople out there who do. yeah. , i often come down on the side of technology and this i'm in the same pl i think there is a lot of value in what i can do. to me, it's like the birth of the internet. it's going to be that bit's gois in our lives. and i think it's not going away. the the genie is out of the bo

it is still him and get some sense of what is going on with his investment which he has touted on redditd over the last four weeks nonstop on x. caroline: that could be worth almost half $1 billion when you're looking at the overall holdings of shares. there are 70 directions to go. we could focus on the fact of whether gamestop is employed this moment or diverging it further or whether there being savvy. we can also dissect the fact that here is keith gill potentially manipulating the market? that is something we are starting to hear talk about. bailey: we have seen the wall street journal saying e*trade is considering banning him from their platform which makes me feel better if they can confirm he is making these investments in the company. the main thing that stands out when you look at the concern around market manipulation when i talked to securities lawyers, you need to be able to prove an intent to manipulate the market and follow through on that. so far he has not sold the stock. he has not done anything with the options. it is a weird area that has not been discussed in the pas

first live youtube stream in four years and posted a new position update to the yellow thread on redditeturns to the may high, gill's paper position would be worth $1 billion. all this as the return of three years of silence raised questions of market manipulation and outside funding sources and a possible ban of his trading source e*trade. joining me is michael piwowar and karl roessner. good morning to both of you. >> good morning. >> karl, i'll go back to your past life at e*trade. would you have banned roaring kitty? do you think there is a reason to ban him and e*trade, a company that is the trading platform, is there a reason to ban somebody who has become a cult hero? >> it is an interesting question. the way you have to look at this as e*trade and so everybody is aware, i did not work at morgan stanley following the acquisition of e*trade. i wasn't involved at morgan stanley. i talk about this in my personal views. the way i look at this situation, you need to look at the customer agreement. has mr. gill violated the customer agreement with e*trade? has he committed any crimes?

monday jumping more than 70% at the open before pairing back to close 21% higher this after a post on redditl known as roaring kitty claimed to hold 5 million shares in the company totaling $150 million as of friday's close making up 2% of the company's shares looking at u.s. futures, this is how they are shaping up at this stage. they are tracking for a lower start to the trading session on wall street. let's see what will happen that is it for today's show. i'm silvia amaro "worldwide exchange" is coming up next. of your business. take full control of your brand with your own custom store. scale faster with tools that let you manage every sale from every channel. and sell more with the best converting checkout on the planet. a lot more. take your business to the next stage when you switch to shopify. what is cirkul? cirkul is the fuel you need to take flight. it's the energy that gets you to the next level. this isn't just water, it's the water you need with the results you want. a state-of-the-art cartridge lets you transform your water with the energy and electrolytes you need for peak p

reactivating his account on reddit saying hens $115 million worth of game stop shares.n between his sudden owe merri bowl generals and the cryptos moving higher. like in 2021 with the meme stock and people diving into cryptos? >> yeah, this is driven from a political basis. united states remains largest economy in the world and has been kind of backwards as its approach to cryptocurrencies. countries like uk are way ahead, japan, singapore, switzerland and we're really behind the rest of the world. >> we do, we have 24 offices around the world. the voice of crypto and xrp has gone up. liz: it's money. you yourself given a total to 15 million to fair shake, the lobby firm that cryptocurrency people are filling the coffers there and suddenly you have donald trump saying i'm the crypto president. you have joe biden making some noise about, you know, come on, lay off the regulation as little bit. you guys suddenly have a voice. you're the kitten that roared in a way. >> yeah, less about the roaring kitten and more about the machinery in the united states move and act. we ha

it was up 21% yesterday after a screen shot was posted of a gamestop holdings on reddit remealing a $116lion bet. gamestop is up 60% since he reappeared on an x account in may. and e-trade is considering parring him from its platform due to concerns of stock manipulation. jacob frankl weighed in on the legal risk of "squawk box." >> if he is telling people in a public forum what he's doing, i don't know that it would constitute manipulation. on the other hand, if he's having private conversations, let's move the price of the stock to x, and he's going to benefit, maybe there is no change in beneficial ownership. that's something that the s.e.c. specifically looks at when it talks about stock manipulation. in other words, is a person using multiple accounts to drive the price up of the stock? >> interesting. let's talk more about what those options are to cash in without attracting regulatory scrutiny. we talked to chris murphy for that. everyone's buzzing about this, chris. walk us through it. >> sure. umm, thanks for having me. it's obviously a unique situation. everyone knows or at lea

looking at the gaming stocks, discord, reddit, and a company like webtunes, they are very interestinggeneration is spending the time growing up on games. half of u.s. eight to 10 euros play roadblocks every day. -- eight to 10-year-olds flag roblox everyday. tim: we will have to leave it there. patron partner amber atherton joining us from california. coming up, elon musk and his companies are embroiled in dozens of lawsuits ranging from fatal crashes blamed on tesla's autopilot systems to civil rights complaints over the treatment of employees. we discussed the latest suit after this. this is bloomberg. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh are your gutters clogged? cleaning them can be dangerous, mucky, yuck. get leaffilter. it's as easy as one, two, three. call or click today. get your free gutter inspection on your schedule and get leaffilter installed in as little as a few hours. you'll never have to clean out your gutters again, guaranteed. get leaf filter today. call 833 leaffi

came after in account that was linked to roaring kitty the trader keith gill posted a screenshot on reddit yesterday, it showed an additional bet on $160 million on the mean stock it caused a flurry for two reasons, the first this is the first time that account has been posted since 2021, a lot of folks were saying he's back in the game this means roaring kitty is betting on gamestop to go up that's what you see the investor interest today, you couple that with what gill's twitter account posted this is a picture of an uno card if you ever played the game, a player throws this down to reverse the order of the game, a lot of folks are taking this to mean roaring kitty is reversing in favor of the average investor. we are nowhere near the spike that we saw back in mid-may you can see that right there on the chart which we sell mean mania and a lot of folks are wondering does roaring kitty have the same influence as in 2021 or are we likely more to see a series of muted pops and drops going forward, one mean stock benefiting from today, amc the stock right now is up 13%. again off the highs o

. $60 million for the rights to everything on reddit per year. so i think that, you know, authors and publishers should ultimately be paid. i'm very happy that those 40 lawsuits are going on. and i think that eventually will work its way through the courts and be resolved to everyone's satisfaction until then, we're going to we're going to just sort of have to make our way through it. and i think it's still very early days. i'm not not really, you know, i don't think it's worth going to defcon five about just yet. and it is definitely a valuable tool. it's definitely going to make us more efficient. it's going to help us, you know, process and gather information better and hopefully allow workers to do a higher level of work that's more interesting and creative for them. but all of the caveat to supply and we have to regard it with caution, i personally don't think it's going to blow up the world, but, you know, i know that there are some people out there who do. yeah. so, i mean, i often come down on the side of technology and this i'm in the sa

gil shared an update on reddit yesterday evening, his position was worth $586 million at the close.g if it could hit a billion today. he would have to come up with $246 million to exercise the options. that's a big hurdle. this could be a big mover today based on hype. game stop released their earnings. they were down 29% in sales with a loss of 32 million for the quarter. that hype is not rooted in the company's fansals. maria: two big stories, thanks very much. we want to talk about that on the word on wall street. it's time for the word on wall street, top investors watching your money. joining me is former gartman letter editor, dennis gartman many also with us is chris mcmann this morning. dennis, good to see you. thanks for joining the conversation. i want to take a look at all we've been looking at this morning, nvidia the name to own. chris, the 10 for one stock split will make it more affordable for lots of retail investors who may be watching this and thinking i have so-called fomo, fear of missioning out. would you buy after the stock split. >> i would. it makes it cheape

i love reddit. i think it's a good stock. just throw it in there. what's up? >> all righty.to talk about is course scientific, who recently signed a 12-year contract to host nvidia gpus, on top of mining bitcoins per month and seconds only to marathon. where does this fit in? >> and just to be clear, i happen to like bitcoin, and i happen to like ethereum, and that is what i stick by. let's go to fernando in virginia. fernando? >> booyah, jim. i started watching your show almost 20 years ago. back in 2005, when you were a young pup and you look the same, except thinner. >> you're very nice. >> and hearing you, you're not a big fan of intel, the competitor of nvidia. but what about a long-term investment based on a chip manufacturer? >> it is amd you're describing, not intel. >> let's go to tony in florida. tony? >> hey, jim. i just want to thank you for everything that you do. and i will be a club member for life. >> thank you. how can i help? >> well, the company i have is -- it's a company that does a lot with at&t and verizon stuff. in florida, it's mtz. >> that is a grea