so how have sites like robin hood so dramatically changed the face of retail investment? yeah, the rise of retail has really force wall street to take notice, especially after the catastrophic losses they face when institutional has got squeezed and started losing billions in names like game, stop and blackberry. so they are completely changed the landscape of investing, especially after blowing it on the biggest hedge funds like melvin capital, institutional they trade on fundamentals. they look at earnings, catalysts financials and global climate, and all that to determine price points of dames and their market cap to look for opportunities, but then retail. they rely more on sentiment and hype and to that. and it's a complete divergence from fundamentals because you look at a name like game, stop are an see, and any institutional of b, like that's dead money, short it. but then all the retails ban together under their love of gaming and saving the movie theaters and movie business and managed to squeeze out all the hedges game. stop rallied over 2000 percent this year,

and that's robin hood's crutch that they rely on. a lot of traders, not long term traders and hardly so one big coin didn't do anything for a couple months and just kind of flopped around the 38000 support line. people lost a lot of interest. and then of course, as a 2nd reason, which was the death of those coin. as michael just mentioned, a huge portion of robin hood's revenue came from crypto training, specifically don't coin. and i think all of you know, my feelings on those klein are ready, but those coin had been responsible for about 62 percent of crypto transaction revenue. robin hood in the 2nd quarter, but it has proven itself to be a one time gag token as now. volumes are down about 75 percent. so while there are a ton of great all coins out there that are actually doing spectacularly, it kind of blows my mind why robin hood wants to bet on and actually feed into this retail frenzy by listing such an unreliable and dumb coin and ignore i. some the real projects out there. when i know something we've talked about a lot, righ

robin hood in the 2nd quarter. but it has proven itself to be a one time gag token as now. volumes are down about 75 percent. so while there are a ton of great all coins out there that are actually doing spectacularly, it kind of blows my mind why robin hood wants to bet on and actually feed into this retail frenzy by listing such an unreliable and dom coin and ignore i. some the real projects out there. when i know something we've talked about a lot, right? if you're getting in and you're making money, then life is great until it starts falling. and then all of a sudden you're losing money. so it'll really be interesting to see how robin hood moved forward with that. and if they continue to really focus on some of those mean point. now michael, i want to shift a little bit. i know that when we're talking about really just crypto currencies in general, a lot of those mainstream currencies are facing a tough road and have a tough road in recent days. but at the same time, we've also got j. p. morgan revealing that s

you think that's also taking a toll on robin hood as well? you know, there's a, an argument, a few months ago that as more and more people go into the office because of delta be largely over that you'd have less people actually treating crypto, curtis and less retail and less mean treating all that. i think we're starting to see some of the elements of that. again, it's a little curious me, if a large part of your revenues being driven by the fickle crowd, you're going to very fickle revenue. so everything lines up with this narrative that a lot of people staying at home, we're bored. so what do they do? they went to the casino and the casino happened to have access through their the robins. and now chris, they want to bring you obviously into this conversation. why are you seeing the difference between what we thought maybe in the 2nd quarter and 3rd quarter for robin hood? do you agree with michael at all? well yeah, there was a huge surge of crypto training the 2nd quarter versus the 3rd quarter. and that was pretty much because of 2 thing

and robin hood, basically capitalize and game of fight by giving these amateur traders a platform to band together an army, which is more powerful than any hedge fund or tells about these investors. who are they and what makes them unique compared to say, the traditional investor? yeah, there's a, there's a couple of things that are pretty significant here and talking about the median age, right. the median age of these retail investors, it's 31 years old, which is pretty remarkable. if you consider the fact that this isn't, i guess you can say this is not your daddy's investing game anymore, right. it's a, it's a totally different group of people from the past. i think everything chrissy just laid out explains why that is right for the 31 year old and younger. these are folks who want a game of fight system who love the idea of being able to move markets by moving in mass together. if you think about, you know, older investors, they would never have considered a time when you would kind of move markets together by going online 1st discussing what traits to make and then making somet

this after we learned there were communications between executives at the trading platform robin hoodadel securities before the move they prohibited buying a number of so called meme stocks including gamestop and amc. this was highlighted by this internal chat message on january 27th where robin hood president said you wouldn't believe the convo had with citadel, total mess. joining me now former sec attorney. lisa, you know, all week ken griffin lied, trending on social media. might have broken some sort of record there. citadel securities in the meantime broke their silence with a series of tweets that i personally don't think helped their cause. you've had a chance to look at it. what are your thoughts? >> thanks, charles. yeah, it's pretty amazing when you see big sophisticated company like citadel respond to this kind of criticism. i mean, honestly, they stopped listening to their lawyers and started listening to their pr folks. the tweets don't really help. i absolutely a degree with you -- agree with you. lots of stuff that they are saying is, you know, vintage back from januar

so how have sites like robin hood so dramatically changed the face of retail investment? yeah, the rise of retail has really force wall street to take notice, especially after the catastrophic losses. they face when institutional got squeezed and started losing billions in names like game, stop and blackberry. so they are completely changed the landscape of investing, especially after blowing at some the biggest hedge funds like melvin capital, institutional they trade on fundamentals. they look at earnings, catalysts financials and global climate, and all that to determine price points of dames and their market cap to look for opportunities, but then retail, they rely more on sentiment and hype and to that end, it's a complete divergence from fundamentals because you look at a name like game, stop are an see, and any institutional would be like that's dead money. short it. but then all the retails bound together under their love of gamey and saving the movie theaters and movie business and managed to squeeze out all the hedges game. stop rallied over 2000 per cent this y

we made so much of robin hood from crypto trading, and coin base.her of them. the last time bitcoin was at 55,000 i think coin base had a 300 handle briefly i am surprised it has lagged as much as it has both of them >> do you think the coin is the ship coin? only one coin dog can exist in the crypto universe? >> that's a dangerous conversation i have a dog that is a shih tzu. i would have a field day with that coin. i think the shiba inu won best in westminster some years ago. i can talk dog breeds, but crypto currency is not one >> time to go around the horn. >> macy can be a trade and investment it pulled back i think it was a tactical trade on some of the head winds but i think the longer term, fundamentally, you could own this one >> steve >> around $18, a trimmed a bit but still in it is trading down on worried out of vietnam they don't have any of those worries so this is a buyers' gift >> karen >> i think coin base is interesting for a trade. not a long-term investment, but just a trade on the heels of the bitcoi starts right now >>> my miss

at the closing bell, alphabet, microsoft, robin hood, twitter and others. we dig into those and what the companies say about the advertising market in particular. we want to dig in, youtube, google of course which owns youtube, twitter reaching the next generation of consumers, ones that want content, information, trading tools. taylor, first let's dig into the financial details. taylor: let's start with google. the big headline number, and i will keep this broad and brief him cloud revenue growth slowing just a little bit. getting revenue that -- you are seeing a little bit to the downside with the slowing growth within the cloud segment. that is the opposite when it comes to microsoft. the cloud computing strength has been fueling sales and profit growth. when we talk about the at environments on google, you want to talk about that with twitter, at least twitter says we are up 3% because maybe the impact from the apple and the supply chains, like we heard from facebook, maybe those aren't as bad as we thought. they are seeing less of an impact. texas inst

says the club couldn't come at a better time >> it's really good for this younger generation, the robin hooderation, who want so much to have fundamentals. why does something go up, why is it recommended it's the "why. the "why" has been lacking and the club is going to give you the ""why." >> sign up by going to cnbc.com/investingclub or use the qr code. >>> let's go to the final trade. >> always listen to jim, that's a club i want to be a part of. they're going to be looking at pfizer some of the pressure on the company, you're now back to i think a small discount in the five-year multiple pfizer, check this one out >> nadine. >> med tech etf ihi. it's not a consensus play yet, it will be eventually here >> steve grasso. >> clear secure, ticker symbol you. it's trading like there's no vaccine, like people are never going to airports or supporting events again y.o.u. >> karen >> for a trade only, foot locker >>> that does it for "fast money" for this week do not go anywhere, though "options action" is up next. wealth is breaking ground on your biggest project yet. worth is giving the people

that was his vice for robin hood for that was his name. he wasn't wearing him off. i think that there is something that possibly dies back to those the who cult clown intervention in both of the nation. the idea of dressing up in a mosque so that what you do doesn't get back to you. it's a form of evasion. um, so the often completely understand it in the context of the modern protest movements. but what about the context of the, of the internet right now? i mean, it's like a free, accessible way, and it's sort of the replacement of the mask. you get to be the freaks that you want to be. we want to really knowing who you are on the thing. we're back in dollars. it is a very bad thing, a lot more friends. the also jarrett come back, he was pointing out that some yet anonymity on the internet, the allows all of these trolls and much worse. so to invite everybody's lloyd's, that wasn't a glitch. that was a feature that the people who does owens the internet is owned by in as a feature. it wasn't on the site and is enabled the very worst elements of society to spread the

that was his vice for robin hood. and that was his name. he wasn't wearing a mask. i think that there is some things that possibly dies back to those the who called clown intervention in both of the nation. the idea of dressing up in a mask. so that what you do doesn't get back to you. it's a form of evasion. um so, but i can completely understand it in the context of the modern protest movements. but what about the context of the, of the internet right now? i mean, it's like a free, accessible way, and it's sort of the replacement of the mask. you get to be the freaks that you want to be. we want to really knowing who you are on the thing are best dollars. it is a very bad thing. annoyed more friends, the author jarrett come back, he was pointing out the song, yet anonymity on the internet. the allows all of these trolls and much worse. so to invite everybody's lloyd's that wasn't a glitch. that was a feature that the people who does owens the internet is owens, are in as a feature. it wasn't a mistake and enabled the very worst element so, so as he to spread their

. - tiene sus orígenes de esta especie de robin hood, de esta especie de hombre que les quitaba a los esto es una historia que los va a sorprender. - tienen delante de ustedes al famosísimo jesús juárez. - no descansaré hasta haber terminado con ese -----. [risa] no se pierdan la próxima. [♪♪♪] cc: telemundo network captioning@telemundo.com >> cientos de mujeres llenaron las calles de la bahÍa y resto del paÍs alzan sus voces, exigiendo los derechos reproductivos. >> el gobernador de california anunciÓ un nuevo mandato de vacunos para todos los estudiantes elegibles del estado, asÍ comenzamos. >> este es tu noticiero telemundo 48, hola ¿quÉ tal? buenas tardes soy cÉsar, fa fema (federal emergency management agency) tiene el dÍa libre. >> miles de mujeres marcharon en la bahÍa este sÁbado para exigir sobre sus derechos reproductivos, lÓpez estamos en vivo desde san josÉ, donde se llevÓ a cabo una marcha, cuÉntanos. >> buenas tardes cÉsar y una de esas marchas ocurriÓ aquÍ afuera del ayuntamiento de san josÉ y quiero compartir con ustedes algunas fotos que mandaron algunas participarons

ridley scott's had success with the sci—fi, the fantasy genre, but his epics, robin hood, for exampled i'm wondering if that's an appetite that belongs to a bygone era. well, we caught up with ridley scott and he talked to us about the last duel and gave us some impression of how he thought it would perform at the box office. i tend to play big internationally and less big in the united states. particularly now china, japan, italy and france. and so they love the period thing. i request a duel to the death. and ridley scott is really pleased that his film is going to be seen finally in cinemas, a sentiment widely shared at the london film festival, where many movie—goers were finding joy once again in the cinema going experience. we can't let that go awayjust because we have platforms of what i like to call towers of ether, �*cause you pull the plug and they're gone. i think cinema is essential. we have to keep those rooms open as soon as we can get rid of... we'll never— it's gonna be a while before can get rid of this terrible thing that's occurring but i think it will eventually go

also, escobar was a very public figure and a person who became a sort of robin hood for many a poor columbia answer while alton. yeah, he's definitely a household name here, and he is very powerful, especially in the north west of the country. but he spent most of his time hiding in the jungle. is no one an approved regular. it was good news that he was captured and i don't think it's going to change much. i'm just because the programs in the country remain the same company. and oh, no, no, not, not that area can. i don't think it will have the same impact as death of pub last cover that caused the real change in the country and within colombian, society, this arrest doesn't feel to say the truth is that it's difficult to know just how much of an impact this will have on the elicit the drug trade, the experts will tell you that if the demand of cocaine remains the strongest, most likely new leaders will appear that will replace him. what we do know is that the columbia wants to extradite auto near to the united states. where he will face a number of charges and where many people hope that he

and he was also seen as a sort of robin hood, very many poor colombians in the case ever to nearly said a very, also very powerful figure in particular, in the north west of the country. but somebody that most people didn't really know besides his name. and besides the pictures that the police has shown of him in that has spent most of his life hiding in the jungle. no one knows that he was captured. but i don't think it's going to change much because the problems in the country remain the same for no, no, no, not, not the daily. i don't think it will have the same impact as death of pub, glasgow. that cause the real change in the country and within columbia society, the service doesn't feel to say. so i listen to what happens next. but we understand that the colombian government wants to comply with the extradition request to extra died or to near lead to the united states. we don't know how long that will take. there is of course, an extra dish and treaty in place in the country and the nil was 1st indicted in the us back in 2009. so more than a at deck in the go, there have been sinc

things like robin hood, social media trading, these things, they just drive and it's heard mentality and that's what makes the thing all up to the point where it just doesn't make sense. and those bubbles just never last long . so important where you said in order for someone to when someone else has to lose boom bus, because the i, thanks so much. thank you. and let's go now to the latest forecast with the global recovery from the international monetary fund. this includes new warnings about how ongoing supply chain disruptions are taking a toll on even the richest countries in the world and the projections for the growth we will see this year, which had taken a hint. as a result, the global recovery continues, but the momentum has weakened, hobbled by the pandemic. we have a slight downward religion for the growth of this year to 5.9 percent. we've seen major supply disruptions around the world that are also feeding inflationary pressures, which are quite high. and financial risk taking also is increasing, which poses in additional risk to the outlook. now i left didn't single out

ridley scott's had success with the sci—fi, the fantasy genre, but his epics, robin hood, for exampleat belongs to a bygone era. well, we caught up with ridley scott and he talked to us about the last duel and gave us some impression of how he thought it would perform at the box office. i tend to play big internationally and less big in the united states. particularly now china, japan, italy and france. and so they love the period thing. i request a duel to the death. and ridley scott is really pleased that his film is going to be seen finally in cinemas, a sentiment widely shared at the london film festival, where many movie—goers were finding joy once again in the cinema going experience. we can't let that go awayjust because we have platforms of what i like to call towers of ether, �*cause you pull the plug and they're gone. i think cinema is essential. we have to keep those rooms open as soon as we can get rid of... we'll never—, it's gonna be a while before can get rid of this terrible thing that's occurring but i think it will eventually go and cinema will definitely return. man

he became a sort of robin hood for many poor columbia. and while they're on the other hand, oh yeah, it's obviously very powerful, endangered, especially in the north west of the country buddy has spent most of his time in big john go. also people don't think that this will have the same impact culturally here in the country. and because of just how big of a public figure escobar was, and also because it made me believe this will not change as much the business they listed fit, trade of narcotics, the in columbia. been now that also near live gone. others will appear new leaders that will replace him. thank you very much. from boca allison graham, he at 14 protest is backing the military of briefly blocked major roads and a bridge and don's capitol as tensions grow between the generals and pro democracy movement tear gas was fine to clear protest as and cartoon relations of salad between the military and civilian sharing power and fragile transitional government . it's supposed to lead sit down to elections after a long time, leader amoun

as we saw the other day the bulk traded on robin hood was in doge coin that exist only as a joke a joke for musk factor and it's only 30 cents today they shot down a leverage bitcoin etf. it would have been nuts. most have been disaster for home gamers as long as you recognize the very real possibility the whole investment case for crypto rest in greater full theory, you have to speculate on it i'll take the eagles and give them three and a half on sunday. i don't have any particular attachment and i'll ring the register on the rest of my position when i think it's going liar by all means speculate on your favorite crypto currency that's what i'm doing but do it like an investor and not fan i like to say there's always a bull market summer i promise you i'd find it for you. see you tomorrow the news starts now. >>> former new york governor andrew cuomo charged with a sex crime. i'm kelly evans in shepard smith. this is "the news" on cnbc the white house pushing a new spending plan. >> nobody got everything they wanted, including me. >> what's in, what's out, and what it's going to take

on front, how would we compare against people who position you to a retail trading platform like robin hoodere does tradezero fit into the mix, retail versus professional? dan: we looked to be the one stop shop for active traders globally. we are doing that and a three-pronged approach and focus on our product, technology and service. we offer four different front end platforms. we are currently offering equities and options trading. we are also focused on shortselling and facilitating shortselling. so the offering we provide through our technology is access to equities and options, real-time streaming of market data, the ability to trade from 4:00 a.m. to 8:00 p.m., and having the ability to trade long and short options, so this speaks to the active trader. this is a function not available at every broker, but it is something we really focus on. we have a patent pending on our short locator product, which is an innovation that helps facilitate short selling in a faster and easier way. matt: are you worried about fallout? because although a lot of people think short-sellers really improve t

. >> people are angling for two kind of got on robin hood. tom: there's a lobbying campaign. >> yeah. francine: i'm going to dig in and maybe get some pressing facts. tom: for some out there, a price increase in mackey d's menu. i did not put you down for one interested in mackey d's. francine: i don't do junk food. tom: shall -- shell missing estimates just a day after an activist investor goes on the attack. we will have more on that. this is bloomberg. ♪ francine: welcome back to the open, everyone. 12 minutes into your european trading day. that spanish inflation figure a little bit about expectation, not doing much, as tom was saying, for the euro. stocks were a little bit on the downside. there concern -- there is concern that inflation and a slowdown of the recovery could force policy to change quickly. higher-than-expected inflation out of spain. what does this all mean for the ecb? maria: yes, we had new data from spain today. new inflation numbers out, 5.5 increase. this is the highest since 1992, the year when spain was holding the

this is the latest move by the company to differentiate in a crypto field with robin hood, square ando may be a way to diversify away from trading revenue and adds pressure to open c there are others that it adds pressure to. coinbase was almost 3% lower this comes after coinbase disclosed some issues with transfers. there are still issues with certain bank transfers, withdrawals and trades they say they identify the issues with what they say are stuck transactions no word from the company on what is causing that. >> do you think that the likes of square or papal will go into that that seems like a foregone conclusion >> coinbase is following and catching up to other plat fform, but jack dorsey is bullish on it it seems like coinbase will test it out i am sure the scale is making a lot of these other players bullish. >> i think kate nailed it. it is coming after there was a tweet that talked about open c 27.5 billion 330,000 growth if you do all of the math, it's a pretty easy thing for coinbase if you think where others are trading, it is a logical extension. >> there are other playe

i think when there are companies like robin hood or other large banks, when they set out to build a new crypto products, what they will end up doing is partnering with crypto native companies. ultimately, they form those teams, those teams build up more conviction over what crypto is and what it means, and they can't retain that talent. those keep -- people tend to join a startup or start a company in the space where they have more opportunity and flexibility and they are not stuck within a larger organization that drags its feet to get simple products like row grid out the door. -- brokerage out the door. emily: what's going on? >> i don't know what's going on with shiba. the most interesting thing is the price movement. i don't hear about anything going on about that network. there is nobody building on it. of all the interesting things that is happening in crypto, and you know i can talk about this for three hours, sheba -- shiba is not in the top 100. emily: what is the most interesting thing happening in crypto? >> for me, it is defi. so seeing the capabilities of what new innovato

robin hood is adding a feature it once avoided. 24/7 phone support. it will allow users to request a callback for any questions on stocks, options, or cryptocurrency. robinhood has been increasing its customer service staff after a series of high-profile incidents and user complaints. pepsico has raised its sales forecast on its beverages and snack food. full-year revenue is expected to rise 8% on anna kournikova basis. at the same time, they are grappling with supply chain constraints that is making it more challenging to meet consumer demand. that is your business flash update. breaking news. the white house spokeswoman is telling reporters that president biden has confidence in current fed chair jay powell. this comes after elizabeth warren spoke out against powell, calling him a dangerous man last week, coming at him pretty hard today, blaming him for ratings issues. biden says he has full confidence in powell. johnson and johnson request the fda's approval for its booster shot this week. we will be speaking to the associate professor of internati

companies like robin hood and amplitude have had major debuts and there's more to come.now the head of western u.s. listings and capital markets. we do have you back with us. how do you see this you're going down in the record books, especially compared to last year? >> we are off the charts. we have added 560 ipos, raising $136 billion and we are only three quarters of the way through. you go two years ago, we had 124 ipos for the whole year net rate $24 billion. a lot of that increase has come from the spac ipos which are mixed in, but even if you just look at the operating companies, we had over 200 50 operating companies go public this year. so it is off the charts. emily: let's talk about the surge of companies choosing that route. how many of these teeth think will end up being good bets? jeff: this year has already had 84 spacs on nasdaq, representing $200 billion in market cap, and some great companies including 23 and me, loosen motors. some big men are choosing this. -- big name companies are choosing this. a back is like an ipo but in reverse. in an ipo, you g

this reverse robin hood that's so perverse. the reverse hobben hood effect where we're effectively borrowing against, stealing from the poor and giving it to the rich and the well-connected. giving the praise to the politicians who clamor for attention as a result of other people's spending, other people's money that other people will have to work for to earn back, to pay back. some of those people aren't old enough to vote yet. some haven't been born. some of them will be born years from now to

it that felt like a gut punch because the algorithm is for facebook is what implication is for robin hoodnd its created by add revenue for facebook similar to revenue from especially earning a% of the spread. my question is in your digital engagement, i'm hoping you can confirm the issues specifically conflicts between investors best interest and the ways that companies earn money that will be a subject of the investigation if you can confirm. >> i think it central, the issue that digital analytics are being used to not only optimize for our return but may be used to optimize for the company the platforms revenues and if they are done that way in a rowboat investment advisor or brokerage it creates conflict, it might create a more fun environment for us, that's okay but is also creating more revenue and what is that conflict there and how do we protect investors? >> i'm delighted to hear that and we can follow up on that. our to shift department. some of my colleagues across the aisle whether disclosure would increase small and mom-and-pop businesses. the bill i introduced we passed on th

according to a lot of the gambling experts we spoke to in the documentary, you look at, for instance, robin hoodmbling. there's intermittent reinforcement, there are graphics, things that feel like you are game-ifying the whole experience a lot of people don't think it is real money because all they have to do is press a button they don't have to walk up to a teller, pull out money and make a bet or deposit it with your broker, et cetera. it is instantaneous these days >> right i guess the question is where is it all leading it is one thing if people go, well, you know, i needed a different form of entertainment while shut in. okay, that's fine. but it feels like it became an opening for which to push for these ways to push forward the traditional parts of the economy. >> for this new generation they think that this is, in fact, investing, many of them, that this is the way to earn the money for your retirement, to buy a car, to buy a house. you see that on instagram. all of these social media influencers on tiktok with more than a million followers, they tell you exactly how to do it. >> oh, ye