well read it or initially did ignore robin hood because of the fact that robin hood was the reason that they got burned previously when they restricted the trading of names like amc and games talked about it absolutely furious because they thought that games are that robin hood was actually working hand in hand in tandem with other big wall street names like citadel and screwing out the little guys that they propose to, to that purported to support. so rather than actually quite furious with robin hood and it really wasn't until yesterday, after kathy woods came out and said that, hey, this is, this is great. we have a very high price target. we're going to be acquiring a big chunk of position. so ready to basically solve this as an opportunity to ride the wave up as well as renters also saw the fact that literally it was the 1st day of options training. it was a very easy way for them to spark a rally spark a squeeze. and as you know, this is the game that retail traders like to play. they play short squeezes, they play gamma squeezes, they play delta squeezes, very obvious, technical

if you compare that to robin hood, they have 18000000. so in terms of the whole trends, you just talked about retail investors getting more and more involved in the market . a power certainly opens up another door. now it's going to take a while for that to happen. as you've mentioned already into the crypto space. there's talk that perhaps they'll find some kind of a partner as a broker dealer. but overall, right now, if you just look at the stock itself, it's interesting because you mentioned it's sold off a little bit. but it actually is holding a very keen, moving average year of the 50 day moving average. you have an opportunity if you believe that this could be a real profit for them as it was, let's say for robin hood, when you have a situation where you have about a $10.00 risk and it should send the stock off. now we will tell you though it does, it will take time. it's not going to happen overnight. wow. so pay pal is seeing all of the success that has been had with retail training and they're trying to get a piece of the pie. t

that was about 1% of robin hood's total funded accounts as of the end of june. choppy litz listing day with shares selling off about 8% at the time. they are still below that ipo price of about $38 one thing helping robin hood stock recover though, conviction from growth investor kathy wood. woods arc invest purchased about 1.85 million additional share robin hood on friday that was worth an estimated $65 million her firm now holds more than 3 million shares of robin hood an that stock makes up just shy of 1% of the arc innovation etf back to you guys >> kate, thank you so much. >>> shares of affirm shooting higher today ending the day up about 14% on the back of squares massive deal acquire rival after pay. up next, the firm's ceo joins us to discuss the buy now and pay longel bend. "csi bl"ack in a couple of minutes >>> the buy now pay later model taking center stage again today. square announced plans to buy australian company after pay in a $29 billion all stock deal this comes a few weeks after reports that apple is working on a pay later service in partner

i am a believer in robin hood. i am i still like the stock even up here obvious and less attracting just under 37 i know it is not the high ets quality but i endorse the stock less for what it is now than what it can become and that's why it roared today. here is the bottom line. as the delta variant keeps spreading like wildfire, state governments bring back some of the covid restrictions all over the country, i bet these pseudo lockdown stocks will be big winners! of course, if somebody comes up with a cure for covid overnight it could destroy the thesis. then again, even if we had a cure i bet 50 million americans would refuse to take it just like they refuse to elect immunity daniel in new york daniel >> how are you, jim? >> i am good, daniel how about you? >> doing well. so i've recently opened a position in six flags, sticker six, and given the potential for the covid variant to spread rapidly i wonder if you think the stock to buy, hold or sell >> i will be honest, no. i mean they're scaring the living dayli

let's get to robin hood.e opening higher up 2 thirds of one%, $37 a share. >> $65 million -- stuart: that will do it. stuart: put it in. some companies reported before the bell, start with ali baba. >> check it in, the jab and all. better earnings this morning and profit at ali baba but the real story is the beijing clampdown, trying to reassure investors with a $150 billion shared by back, stock is down. stuart: under armour. >> the top and bottom lines, raising sales guidance for the year and they have been lagging a lot behind nike. stuart: they are athletic -- what is the word? >> athletic apparelmaker. stuart: is a word that i can't quite reach. move on. what is the next one you are looking at? >> eli lilly. a big drugmaker. people don't need therapeutics. stuart: you are looking at clorox. >> last year, hard to find any clorox wipes. that is tough for this company. this company said we fell short when it comes to sales and profit. the outlook for the year. 2020 for clorox. stuart: we were wiping everyth

let's look at robin hood. stock is surging but it's an of selling.ia: if you double your money in a matter of days these are early investors like venture capital funds. when it wasn't the $50 billion behemoth, or a let's and venture capitalist, they bought into robin hood before the ipo coming they are selling $3 billion worth of stocks, 97 million shares being offloaded day today, not all at once and they have maximum selling price of $35 for these 97 million shares. it is more supply onto the market and still, i checked this morning robin hood is a meme stock of the moment, number one on the wall street bethpage on redit and options trading, 300,000 option contract yesterday on the cbo and this week you had kathy would buying another $65 million worth and her total robin hood steak now is $300 million. there's a lot of positives here so there was a mix of options trading, just seems like redit popped up all over again. ashley: it is the talk of the town as they say is i want to get to goldman sachs actually raising their 2021 target for the s&p to

like robin hood, as long as those stocks are still a think, that's good for robin hood >> there's anverlap between the people investing in the stocks and the kcrypto >> i want to get to dan's provocative statement, and that is that a centralized platform is an on ramp to a defi world. financing that world which could disintermediate the centralized platform what do you think of that? >> i think it's too hard to predict exactly how this will play out it's clear there will be decentralized financial applications in the future and centralized applications it will be a co-existence. i don't think most of the large financial institutions on wall street are ready to go into any decentralized applications they are worried about custody or security, potential hacks i do think that we are going to see both of those worlds thrive in the future. i believe what we are watching is coinbase can't predict the future because nobody can predict how the world is going to price these assets. if the world continues to price these higher, coinbase will do well if the world decides to reverse the trend an

the biggest thing to me is whether you go on robin hood -- i know that they wanted to add while it's- wallets at some point. i am a long-term holder of coinbase. but a lot of people talk about decompression. they worry every other day about people saying we are going to come after coinbase. one thing to note is let's take a look at custodial ownership of these cryptocurrencies. there are hacks every other day of centralized and decentralized exchanges. this would be something that enables that increase. in enables billions of dollars to be able to participate in that. this is what coinbase is doing for some trails and end of business. emily: always fun to talk to you. there is so much more we want to get to and we will say that for another time. toyota is slashing output due to the global chip crisis. we will hear from the toyota vice president of sales next. this is bloomberg. ♪ >> we believe the worst is passed. >> it is very fluid. >> this will run into 2022. >> the chip shortage has an effect on capacity. the actions have been taken by our suppliers and this will also go away. >>

were looking for another form of entertainment, and trading stocks on robin hood was part of that.hink that goes away. but the fact that sports are back, legalization is rolling out at an accelerated pace, the ability to get legally across the country -- it is covering 50% of the u.s. population right now. i think you will see a lot of trading activity move into online gaming and sports betting. sonali: it is not legal everywhere yet. it is not legal in new york, for example. folks that are investing in games franchises see online betting as part of the evaluation reasoning. they think it's going to skyrocket because people bet on these teams more. do you think they are getting ahead of themselves? ramy: there are a lot of numbers out there in terms of how big the market is that everyone talks about. you have 30 million, 40 million, some people publishing 60 million. whatever the number is, it is a massive opportunity. our people getting ahead of themselves? maybe a little bit. we are seeing there are going to be significant winners in this category. it is too big of an opportunity

m robin hood has been up as much as 80%. >>> millions of people across the country will get to stay in their homes because of a new move by the cdc. >> the cdc said a rush of evictions could hurt efforts to slow the coronavirus pandemic sot agency issued a new 60 day moratorium on evictions until october 3rd. it covers areas with substantial and high levels of coronavirus transmission. that's about 90% of the country. missouri congresswoman cory bush who protested for an extension called it a victory for families. >> children will be able to start school in the next few weeks and not have to worry about where they are going to sleep. >> it gives state and local governments more time to distribute the more than $46 billion already set aside for renters. >> we need governors and cities to get emergency rental assistance funds out. that is what the point of this moratorium is. it's to buy time. >> the white house had insisted that even as late as monday of this week that it didn't have the legal authority to extend the moratorium. the president changed his mind after intense pressure from

he held something of a robin hood image and was well-liked by many people. it was those people who actually helped him and his gang evade the law. the gang was dissolved when bill was tracked down and killed in 1896. then there is kid curry whose real name was harvey alexander logan. he was known as the wildest in butch cassidy's outlaw gang known as the wild bunch. that gang included the sundance kid, will carver an many others. some of them posed for a photo in 1901 which i have put on the screen for you. the pinkertons learned about the photo, got a copy of it and put it on wanted posters all across america. probably a bad idea for them to have posed for this photo. kid curry during his lifetime was wanted on warrants for 15 murders, but it was generally believed that he had murdered at least twice that number and william pinkerton called him the most vashs outlaw in america and said, quote, he has not one single redeeming feature. he is the only criminal i know of who does not have one single good point. >> which one is he? >> i am not sure. it's a good

i don't even have to use robin hood. >> i love the way you think so. back in the clinton administration, banks were allowed to become stockbroker stock workers are a lot of coming companies, insurance companies. lot of come banks now flash for tonight, 20 years and always fintech companies. hey, paula, bigger than goldman sachs by about twice as big likes change, things change. but peoples and started brokered service which competes with robin hood but pay palace has 20 years of trust with you and me and they have or emails. they could market so that's bad news in the sec said today they're going to maybe think about cracking down on pain for order flow which is 80%. how robinhood makes their money. seems like the world hates the not alarmed by that. >> we've a great month of august. we can take a day off. it's a little bit of a draft. had a great year now p 500 up 20%. that's amazing. that goes hand-in-hand with our next big story you mean the winners on the u.s. prices. home prices. >> yeah. okay. i talked at all time highs 19 of 20 cities in america

and a lot of them have become these robin hood type figures versus the evil lawmen.did hear about a few evil lawmen, it's interesting, that's kind of the typical way that wild west outlaws have been characterized. so i want to leave you with this thought. the encyclopedia of western gun fighters noted that though the history of these old west gangs is often row the man advertised it should not be forgotten that they were in fact nothing more than thugs. i want to thank you guys again for coming out this evening. we've got a few minutes for some questions and answers, if anybody needs to slip out, feel free to do so, but if anybody has any questions i would be happy to answer them. [ applause ] >>> walking from washington, d.c. to new york city, former wall street journal reporter neal king reflects on his nearly 300-mile journey. >> doing it a year later with all that had happened, all of us being shut in, all of us being, you know, walking around behind masks, that long covid winter as we call it, which was a pretty horrific stretch, the events we saw play out of ja

robin hood extremely active recently, this morning $46 a share up 2.3%. ray wong is with us.y do you like it and where do you think the stock price is going? >> i like the stock, it is going to 60. it is more than just the trading. that is the beginning, about the account control with financial institutions, 22 million people that have the option to get to credit and banking accounts, 50% of all retail accounts are being taken by robin hood and that means they will be the replacement for banks going forward and that is what is happening in the decentralization market defying crypto where a lot of action is happening and that is powering the robin hood stock. stuart: looking at $60, 46, what is your timeframe? >> it will happen within the next eight months. stuart: i am going to move on. talking about a 30% increase in eight months. i think i got the math right. coin base $256 as we speak. i know you think it is going up. where is it going? >> 350, part of the reason is $56 million, the best place to go right now in terms of getting wide range of crypto currency's out there. t

if it is 80% of robin hood's revenue you trade for free on robin hood because you don't pay them. it could represent a conflict of interest and has not set up customers you harmed, it is down 3%. game stop shares in january weren't able to buy their shares, no reaction to that was robin hood was lower -- stuart: the order flow is what it is, google and apple open for business. apple is down a fraction, google is up. to curb their payment dominance. >> not because of the amount of money but potential precedent that it sets. according to south korea, if you are a software developer you don't have to use apple google or pay them commissions. why is it bad for apple and google although stocks aren't losing much but cuts off some revenue, it sets precedent for the eu or the us to make corrections and if they don't comply there's a fine of 3%. total revenue in south korea is $1 billion so it's not about the money. that is nothing for them but it is what the us and europe could do. stuart: a precedent. if it happens there and america they have a real problem. support.com. we talked about

robin hood has been on a roller coaster since we're listening last week. we'll take a look at what's behind the changing prices and how traders on read it are playing a role in the company's performance plan for vaccine passports in the u. s. and.

very similar to robin hood for it to be expanding so quickly to try to establish market share in the u. k. pay powell rival that of establish crypto current. the exchanges such as coin based global as well as resolute. so making such a heavy investment into the crypto industry, really it by the giant. it really is giving this conviction that crypt those will play in the future of global finance and commerce is not just the fad as so many of the haters continue to preach and been finally here. a chinese high court has now and now it's that crypto currency is not protected by law. after reviewing a case involving virtual token, how will this impact bitcoin and other digital currencies, which have been outlawed in china? yeah, i mean it's certainly not good news, but i don't know that if it's anything different than what we already knew, look, china is a country where is the high court is not going to say anything different than what the national government says. right? so the government says, big coins not allow the high correspond to come and challenge that and say it is allowed there

of course, robin hood has made big news throughout the week. all about this doc, which is now up around 50 percent after a dismal i. p o. last week and new job data released on friday showed hiring rose in july, added the fastest pace in nearly a year. non foreign payrolls increased 594-3000, while the unemployment rate fell to 5.4 percent, both beating expectations as companies face a so called worker shortage. average hourly earnings in the u. s. or 4 percent year over year. while labor participation is up to 61.7 percent, all of which has caused markets to react positively. and before we wrap up, we wanted to take a look at the state of oil. now both brent crude and west texas intermediate fell this week. prices really took a hit over concerns of oil demand could be hurt by new restrictions due to rise. and cobit cases, all just as opec plus members moved to increase output in the coming months time. now for a quick break, but when we come back, we head back to the crypto currency sector, where a change in a theory has led to a crypto rally

earlier this year, their statement was there like a robin hood saying that they're only targeting corporations and they're giving away a portion of the funds to charity. and that they were doing good by actually pointing out security flaws that companies are aware of them and can avoid future consequences that could be much worse. and at the same case here, when the attacker sent back the stolen funds, they actually included a message that red quote. it would have been a $1000000000.00 hack. if i had move the remaining coins, did i just save the project? not so interested in money. now considering returning some tokens or just leaving them here, what if i made a new token and let the dow decide where the tokens go. so basically the tacker is kind of trolling that proving himself and his abilities and that is for the sake of showing the world what he can do. basically the same way an athlete would want to show off to the world state of the lympics. so as of today, the report shows a white pack hacker communicating with him, saying that they can offer the attacker a security bounty when the rema

another hedge fund has a -- i want to and quickly with the robin hood story. see a complete change. up 19% today, those orders are going to have to be put on hold. emily: the roller coaster continues. thank you so much. a day after announcing a longer -- amazon is ordering all front-line employees to mask up, regardless of vaccination status. this is a another example of how companies are having to constantly reevaluate their policies. let's listen to some other companies reacting. >> as far as delta goes, it is difficult to tell what the effect is except for markets that have closed it down. >> encouraging people to come back. the delta. has changed that. >> we are reinstituting the mandatory mask policy. >> we are providing incentives. we are having good conversations with employees about the benefits. implementing the safety guidelines i talked about with masking and social distancing. >> we are going to work with governments. we are going to follow vocal mandates. -- local mandates. >> one company -- industry affected is villa state. glenn, it has been a r

so robin hood getting the full boost. >> why would it not be the meme stock?en we return, honeywell chairman and ceo and former white house trade advisor will discuss china's teccrk h ac down and attempting to control corporations we'll return after this. team usa is ready for the olympic games... ...and so are mike and eddie! show me the olympics. they easily catch every single event with the award-winning xfinity voice remote. show me bmx racing! show me swimming. track and field. shot put. skateboarding. water polo. climbing! discus. surfing. dressage. dressage? it's horse dancing. magnificent. with the best of the olympics, and everything else you love, it's a way better way to watch! cheer on team usa with xfinity x1. say "show me the olympics in 4k" so you can watch in stunning 4k ultra hd. >>> the delta variant, supply chain disruptions. these are some of the thorny issues facing the economy for months our next guest, honeywell's chairman and ceo great to see you today thanks for being here. >> thank you, becky. >> i know when you all reported your earn

this bill is a reverse robin hood stealing from the poor to give to the rich. a small handful of very well-connected wealthy interests will get richer off this bill that everybody else will get poorer as we inflate the dollar. that's not fair to hard-working americans, better utah, bad for all americans everywhere. laura: back to this measure in the bill that would track your vehicle miles, the objectives of the pilot program are to address the need for additional revenue and provide recommendations for adoption and implementation of a national motor vehicle per mile user fee. we have romney, mcconnell, portman, bill cassidy, etc. supporting what will ultimately lead to another tax on americans and the $3.5 trillion bill which is joined at the hip with this. why is mcconnell doing this? >> he will have to speak for himself. i can only speak for myself. they will say it is only a pilot project but a pilot project is a little like a pilot light moving forward. there is no way it can develop into a full-fledged program about massive intrusion into private family i

shares of robin hood surging in the pre-market less that a week after its less than stellar market debut and a new boom for bitcoin. how the $1 trillion infrastructure bill could help millions, yes, help millions of crypto investors when it comes to their taxes it's wednesday, august 4th, 2021, and you are watching "worldwide exchange" right here on cnbc. ♪ ♪ >>> good morning i am dominic chu in for brian sullivan the dow is implied lower by roughly 44 points. the s&p would open lower by 3 to 4 points we'll call it relatively muted so far this morning. the s&p 500 is coming off a fresh record closing high while the dow jones industrial average, the russell transportation all seeing their worst first day winning day in three days check in what's happening with the treasury market overall. you can see a slight move in yield but not by very much a slight tick higher in the benchmark by 1.18% meanwhile, the benchmark currently stands about 17.5 basis points or .174%. now a number of sectors are on the move this week as well while infrastructure may be treading water on capitol hill, on wall

look at robin hood, it is high, a different story for robin hood. stock. they allow trading in meme stocks so it came down from its high of 85. they expect the slowdown in real tell trading and that makes sense, the stock market has come up so fast and furious, haven't had a 5% full back in 10 months and it is summer, people are going out, not staying home trading on their phones as much as they used to be. stuart: whatever you say. shorted stock is the word for meme stocks, all of them slightly higher today. we should take a look at the dow winners. there are a few including microsoft. lauren: $332.32. stuart: i'm almost embarrassed, almost. winners on the list right there, we've got microsoft, caterpillar, top of the list is boeing quite well with microsoft. the s&p 500 list headed by mosaic. who else is on the list? prominent names, nasdaq winners. here is where we should see big tech. nvidia is up there, ebay is on the list and humana. lordstown motors up slightly. did the share healthier -- shareholder meeting last 10 minutes? lauren: about two

. >> at the same time, that's what everyone in fintech is trying to do, like robin hood, who we'll hear maven becoming the first u.s. female-backed female founded unicorn in the space with a valuation of over $1 billion. i spoke to maven founder, kate rider, who led that latest round. you can check out the entire conversation on our show, linkedin and twitter pages it was a great conversation. a great milestone in the space. >> very cool very cool. >>> cisco and nvidia tonight let's get to "the half." >> thanks so much. welcome to "the halftime report." i'm scott wapner the only question that matters to your money, are we about to have the biggest correction and which stocks might be most vulnerable joining me, stephanie link, krnks's jim cramer, the host of "mad money" and he's at the desk with me today and i'm so happy about that let's take a look at stocks. we're down across the board, except the russell, but it's been down lately and a lot the dow is holding on to 35,000, a loss of 40 points. the s&p is a fractional loser by six. nasdaq, let'

it comes from somewhere in washington at its worst with politicians who want to play robin hood.y think they steal from the rich to give to the poor. but in this case they steal from the not so rich giving to the not so poor. then that result is the absolute annihilation of the american dream. you see these people that have second houses that went out to pay college tuition or build a nest egg. something make-believe to their children. or a vacation. they work their tails off all their lives. for the federal government to step in and destroy with a built it is pretty disgusting. that's what you get out of washington. laura: gun violence spikes in liberal run cities from a shooting outside a laundromat in new york city to tourist on bourbon street running for their lives when gunfire broke out. when will it end? coming up next. hot dog or... chicken? only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ before nexium 24hr, anna could only imagine a comfortable night's sleep without frequent heartburn waking her up. now, that dream... . ...is her reality. nexium 24hr

. >> i'm joseph robin hood biden junior, do solemnly swear -- dion: the animatronics of resident joet the magic kingdom this week. creative teams have been working to add bite into the hall of presidents. he recorded the audio of his oath of office used in the exhibit. disney is the parent company of abc seven. a final check of the weather and what people can expect further back back-to-school forecast. spencer: the week -- let me start again. off to a promising start. our air quality is improving. the sea breeze brings better air quality. clouds tomorrow morning will linger but we will have a sunnier afternoon and it will be heating up in linda by tuesday. overnight tonight, look for expanding low clouds over the bay, temperatures mid-to-upper 50's, highs tomorrow under mainly sunny skies without so much smoke and haze, mid 60's from the coast to low 90's in the warmest in the occasions. here comes warm up, wednesday, thursday, and friday. 80 degrees or higher near the bay shoreline, upper 60's on the coast and temperatures gradually taper off next weekend. still going to be warm. d

is it right to have a reverse robin hood immigration program, which is what we have now. and the third mitigating factor -- the third reason that small, net benefit from immigration is not what you think it is is that it is entirely wiped out by the extra social service costs that low skilled immigrants impose on tax payers in general, not because they are not working, not because they are ripping anybody off, but if you have a less skilled, less educated person in modern, postindustrial, knowledge-based economy, the odds are pretty good that he is never going to be able to earn enough money to feed his own children -- not because he doesn't work hard, but because he is a mismatch. if you will, a 19th-century worker in 21st century economy. because he is never going to pay a lot in taxes and will inevitably use services to feed his children and take care of his family, is a net economic loser. the issue is not our immigrants -- are immigrants legal or illegal, good or bad. the fact is that is a mismatch for a modern society to be taking large numbers, especially poor peop

what does robin hood have to turn into to make it more of an attractive longer term secular story? >> i think it has to turn into the charles schwab of this generation i think robinhood, they picked a great name passing the baton from the rich to the not yet wealthy is really good marketing tool. dom, remember heading into the stock it ripped higher surged 50% this year far outperforms the smh. it was only about 5% from the all-time high. now in the after hours heading higher here turning to the results, beats on the bottom or the top. q3 guide darns that's expectations of 6.5 billion. 67% versus expectations of 66% spoke with matt bryson at wed wedbush. it was better than street expected there were high expectations hanging to this print though matt says. this stock trucking higher right now. there's still as matt says some concern about whether that farm acquisition is on it they're saying q2 is strong. gaming demand is outpacing supply, she says as for cryptocurrency mining in those new chips just for minors that they introduced, revenue 266. that is lower than the original esti

robin hood is recovering, down 8% earlier.y have an interview with the seg -- the interview they had with the sec chairman, that order flow is still on the table. tom: thanks so much. greatly appreciate it this morning. on the market lifting, on bond prices lifting, the liquidity out there, conrad dequadros. something central banks have had to deal with, this wall of money. let's begin with, is the fed concerned about the will of money driving asset prices -- wall of money driving up asset prices? >> when they get asked that question and when the debate shifts to what qe is doing for considerations, they don't seem particularly concerned. it goes back to that view that it should be addressed by regulatory actions or it is not really monetary policy issue for them. i think it is more of an issue than they make it out to be. talking about the wall of liquidity, we can see it in the fed owned facilities if we look at the overnight program. every day, $1.1 trillion gets returned to the fed and the fed pays interest on it. clearly

the nasdaq, however, is lower by about 0.5% shares of robin hood soaring about 9% finishing up a wildding. and the oil market getting ready to close for the day and the week pipa stevens has the numbers at the commodity desk here she is. >> hey, tyler. speaking of wild weeks, oil is down again today wrapping up a week of heavy losses improving demand has been so important to oils rebound this year any indications that it might slow is going to weigh on prices and that's exactly what we're seeing right now as the delta variant leads to new lockdowns wti is down 1.2% at $68.25 for the week it's down more than 7%. that is the worst week going back to october. crude is at $70.69 for a loss and for the week down about 6% which is the worst since march tyler, back to you >> thank you very much, pippa. i'll pick it up from here. >>> ahead on "power lunch" the u.s. economy adding 1 million jobs in july this comes less than stellar adp report earlier this week what does this volatile labor market mean for investors? >>> check out shares of carparts.com surging more than 15% at one point and 14

will be matching the total winnings of the contestants and donating that amount to the robin hood foundationout of poverty. as a native new yorker, i am so thankful for this opportunity to raise a lot of money for a great charity in my hometown. with his $52,000 win yesterday, well, our champion, matt, helped add to that total. and today, we welcome kevin and nicole to the game. here are your categories in the jeopardy! round... and in this, we're looking for the name of the maker of each car. and... matt, start us off. 16th century, $1,000. - matt. - what's suleiman? - yes. - talk to the hand, $1,000.

percent from low to high and off like another 30% right now certainly a huge volatile move there for robin hood just a few days old in public markets. back to you. >> sign of the times as prince would say, dom as this new wave of meme-like stock trading coincides with record highs for the markets, the vanex social sentiment which tracks investment related mentioned and lists virgin galactic and gamestop as some of its top holdings that's up 8% in the last three months but drilling down on those holdings shows volatility. space is up more than 3% today and up the same over the past week amd is down 4% after a 10% rise during the same time and gamestop, higher today but that's down 7% so does it pay to follow the meme trade joining me now is mark smith, senior vice president and portfolio manager at wells fargo advisers and cnbc's bob pisani mark, i don't understand what a meme stock is nymore i thought it was like a depressed name that was heavily shorted and primed for a bounce but, like amd, there's real fundamentals behind that stock so if you own it, and it gets caught up in something like t

attempted transfers to other accounts to including $25,870 to the crooks online trading account with robin hood. by then, larry was standing in a chase bank branch and stopped it. >> so if you have not caught this when needed. they would have taken everything. you have. yeah. chase launched an investigation but more than 7 weeks later, larry hasn't seen a dime and no one from the bank is called him back in weeks and feeling helpless. he knew he better call behnken and chase spokeswoman told me she would has collate this case. an executive team member will contact him should take a priority and you know. >> return the money back as soon as possible. and continue their investigation to the extent to build a track where this came from, how it got started but not leave the individual like myself. you know, without this amount of money, this affecting your livelihood. >> the spokeswoman for chase bank tells me she will update me when she has more information and i will stay on this case to make sure that larry gets answers about where his money is. meanwhile, the manatee county sheriff's office is n

why is this -- that's why robinned hood's stock is going up because they make a lot of money on paymentr discount brokers depending on which one you use because they essentially take your buy and sell orders and sell it to another broker. that broker matches the buyers and sellers, makes money off the bid e and ask spread. it's completely normal stuff. it sounds nefarious, but it's not. and they pay you from that money. if it's gown to be banned as some people were talking about, well, that would hurt robinhood particular lay -- particularly as it just became public. at least in the short term. a bill like this being handled the way it is means it's going to to take a hong time for it to be banned. at least the legislation won't happen. gary gensler could come out and try to pass a rule on banning it, but it sounds like that's kind of an uphill battle as well. how did it go from let's ban it to let's study it? the reason why is because robinhood spoke, and probably citadel. this part i'm just conjecturing on, but they said, listen, you want to democratize the markets? no matter what you

the one vendor it reminds me of coming off of last week where so much of our discussion was about robin hood and this age divide within financial services this is one more chapter of that. >> there is a lot of, you know, companies in this space, buy now, pay later we'll talk to klarna our next guest says that square's buy now pay later play could set it up to be the jpmorgan of the future joining us now, dan dolav. he covers the buy now pay later company affirm, mastercard and visa we talked to a few weeks ago, but here is my question, it is not like the traditional players like jpmorgan don't have these products jpmorgan launched its own buy now pay later. i believe last year. has it gained any traction why aren't they really part of this conversation? >> i think that's -- you're hitting the nail on the head this is the issue. some of those legacy guys, you know, like the so-called guys that -- the old world, they don't really understand the pause needed to get these customers. you talk about the gen z and the young millennials. they're combining rap music as part of their cash app they bou