rivals and position robinhood in this broader universe.ioned considering some of these headwinds? >> yeah, so, when you look at the actual stocks for a second and then stop talking the business and the actual stocks, we think the fed is going to raise rates a bunch of times in the next two years maybe four rate hikes over 12 to 18 months. in that scenario where you get more or less than that but the fed is still raising rates and inflation is high, i want to be outperformed by or long the retail brokers that have a lot of interest rate sensitivity and that's charles schwab and more so with interactive brokers. those two are more exposed to rates. robinhood is almost purely exposed to trading activity, which we think is normalizing down so from an earnings revision stock perspective, we prefer schwab and interactive to robinhood. and that's what our ratings point out there. >> hey, finally, craig, not to make too much of it, is there any m&a optionality from a legacy financial firm that might take a look at this and figure, well, we're not

buy now, pay later the ipos of coinbase and robinhood and not to mention all that online and digital commerce that has been happening over the last 18 months what's happening instead is investors, they're actually returning to the incumbents. take a look at shares of visa and mastercard they have each jumped more than 10% over the last month while the more recently public names like affirm and sofi down double digits the question is, guys, is the hype of the off starts wearing off within those names the names tied more closely to crypto, coinbase and robinhood now have the lowest multiple to ev to sales basis in the group and square that embraces bitcoin and blockchain hasn't done the stock any favors since that change the company is on fact for its first yearly decline since it went public back in 2015 the question here is that a lot of these retail investor and buy now, pay later i don't think anyone thinks they're going to go anywhere next year. can these incumbents kind of hold on and move quick enough or is this just a pause >> i think it's a pause. i think this is a pretty clas

robinhood's reason?ut of capital to meet deposit requirements — in other words, so they claimed, they were running out of money. we don't answer to hedge funds. we serve the millions of small investors who use our platform every day to invest. and then it basically started falling back down to earth, and first it fell back to sort of $200, then $100. the clue to robinhood's branding is in the name. a trading app that's self—reported m0 was to democratise trading had, to some, protected the rich. no—one cared. like, and it happened right in front of your face, they blatantly did it, and no—one can say anything. so that's when we were thinking, "0k, we should..." you know, we give brands and companies a voice all the time, let's try giving the little guy a voice for something we really are passionate about. you decided to fly a plane over robinhood's offices in the bay area. we did. yes. i think robinhood catching the brunt of this, like, they created that irony for themselves. they cashed in on the brand

with robinhood, it's not to say their growth trajectory is negative going forward just a lot slower,point, jon, a lot of folks at ipo, wasn't that long ago, didn't figure that would be part of the population in terms of overall risk to the company. >> all right we'll continue to fold in all sorts of that commentary moving on next up google facing off against disney in its latest tv fight. revolved with roku last week google will drop a number of disney channels and increase roku's subscription if an agreement not reacheds by tomorrow asking all partners to treat youtube like any other partner offering same rates services are a similar size pay across disney channels long as we carry them disney responding confidently saying disney have a long track record that's positive, all types across the country and committed to working with google to reach a fair agreement. julia, treat like everybody else i thought a new air wa of a la carte digital magic? sounds like a cable carrier dispute we've known about for decades. >> it does indeed, because that's ultimately what youtube tv is. a strea

liz: amc is up 6% today, robinhood is down.rading, the up-days in amc and you could see that in gm e, the up-days aren't as high as they used to be and the down-days are actually lower than they used to be. liz: lower highs and lower lows. charlie: just look at the trading pattern i've been watching this so what does that mean and i think robinhood falls into this category, because people buy this from the no-fee trading app robinhood, buy these meme stocks. i would say this. there's a couple things going on , the virus, obviously, theoretically not good for movie theaters, the new variant. there's streaming, which even if you look at long terms, take 2020 out, look at 2019 compar ables to today, not really doing so well. amc is still off long term are streaming and i think one other thing, i think, is bad for these stocks. it's the fed, and you know, the fed, you see , in the past, allen greenspan and other fed presidents, would pop massive bubbles in the market. i remember i'm old enough to remember 1994 when alan greenspan s

what does that mean for robinhood?is a different approach that needs to be formulated by management? karl: i think you are right on the mark. when i think about robinhood, i think about the customer acquisition. the growth they experienced over the course of the last two years in terms of their customer base going up to 23 million accounts, but what they have been able to deal with opening accounts and getting folks on their platform has been stunning. the business model is based on generating trades. how do you continue to have these folks engage with the marketplace? how do you continue to generate that flow so they can continue to invest in the plat form and grow? they need a new way to engage with the customer. if you look at what they said on the last earnings call, that is what they are trying to do, get into longer-term investing, into education. they talked about snippets they now have available. they refer to them as snacks and how they are getting customers to engage. they started with 24/7 customer service,

and we think robinhood has a number of areas of differentiation.y have a huge balance sheet that i think they're going to do acquisitions over the next year, and as i just mentioned they are going to roll out new products so, that's really what it's about that they have to be able to deliver other products and services that really their customers want to use, which i think there's evidence around that they're doing very well in cash management their ipo access product is seeing traction. we think that on the crypto side they've already seen some very early signs of progress on the crypto wallet. and i think some of the other things that are going to come on that front this is going beyond just trading. we think that they may have nfts and a number of other features like that, which no one's really talking about right now. so, right now everyone's focused on the third quarter that's the last fundamental data point we have. then the stock's gone down not just because of that but because of all these other technical factors. so i don't think it's goin

robinhood wants to help.tarting december 22, robinhood users have the option to gift seven cryptocurrencies. crypto is not the only hot gift. nft's, making the most wanted list. many are comparing the token to lottery scratch offs, the gift that could pay off big time. here to discuss and predict, we are joined by megan. great to have you with us. who is gifting crypto and nft's, and will it pay off? >> thanks for having me. i think it is great for robinhood because they have so many users on their platform that are already trading stocks, and this is a great way to bring the entire masses into crypto. why give a gift card for the holidays when you can give someone an investment? when you think about crypto, it is culturally relevant and gives friends and family the opportunity to build wealth. i think it is interesting in that respect. you can customize it with messages. robinhood is a great user acquisition, great for referrals and bringing users onto the platform. i think gen z will do it and a lot of port

again, i understand why robinhood has been such a disappointment, but i think you have to be careful to paint all of these stocks with the same brush. >> well, they have been painted. at some point somebody might step inand buy them because they're either going to zero or they're going to stop going down >>> let's move on because with so much sort of moving under the hood of the market -- see what i did there? the big cpi report got us wondering what you can do, all of you out there, to inflation-proof your portfolio let's get to our chart masser, carter worth, who is charting what we might be able to do in this uber inflationary world carter >> well, it does get down to your conversation whether it is peak or whether it's transitory or not the words are all really clever but i guess no one really knows. but there are some traditional places that do do well in moments of inflation obviously hard assets, commodities, real estate, or companies that can pass on increased prices to the end user in any event, let's look at three etfs i think this as good a place to start as any the first

you mean robinhood >> i just said -- you tell me, mel.st said i would, so i was testing my would >> i'm going to move on. cath wreck wood say it's going to so wood or wood you not buy this one >> i think this is a data play this is obviously in some sense where we've seen other companies try to fail. the valuation not terribly interesting. this is a long-term play i'm not typically one that chases the growth multiple, but this is very well positions in space. i mean, this is a sick lars trend very much in their favor >> guy, wood or wood not >> i would change the sound effects to wood not. this is a money losing machine now for quite some time. growth is slowing. it's been taken out to the wood shed wood not. >>> just a reminder, you can find the full talk on demand, just go to cnbc.com/pro. >>> shares of lennar up, one options trader sees even more gains ahead. we'll brawn down the actions we'll brawn down the actions when "fast money" returns.fiden. this is my granddaughter... she's cute like her grandpa. voya doesn't just help me get t

robinhood is far from the only company allowing customers to gift crypto.zach prince who joins me in a fox business exclusive, with what you guys have found when it comes to gifting cryptocurrency. >> yeah, hey, liz thanks for having me back. so we did a survey of not only blockfi clients but also the general public and we asked, do you intend to give any of your relatives or friends the gift of crypto this holiday season, and we saw pretty good response to the survey, but we were relatively shocked by the number. 10% of folks said that they intended to gift crypto to someone in their family this year. now, i work in the crypto industry. i've been gifting people crypto for a while. i can definitely say this year, more folks in my family have asked if i was still doing that than in years past, but i think that's a really great number for the industry and you're see ing robinhood as you mentioned, of course is available on blockfi's platform but also companies like square and coinbase make this possible. liz: well, gifting crypto sure be nice but it's almost

emily: you know, looking at robinhood results, their crypto trading dropped almost 80%. it was kind of astonishing how -- i spoke with the cfo who told me perhaps crypto trading had normalized. and i'm wondering what you make of that huge change in volume. i know it is just a window into robinhood, but i wonder if it signals something about broader interest or hype around cryptocurrency. michael: i mean, i think we have ebbs and flows and it is natural to have some cyclicality to it. i think q1 was a pretty good quarter. it's slow down after the china exodus and they are heating up right now, you can tell with all the chatter about the various coins. so i don't think that we have seen the last of crypto volatility and crypto enthusiasm. and i think that in time, we are going to see more of this cyclicality. emily: so you think more volatility is ahead? michael: i just think this is the most exciting thing going on. right? the entire crypto world is attracting a huge amount of capital. it's attracting a huge amount of talent. it's attracting a huge amount of attention. on

among them we know reporting issues disney plus, netflix, slack, robinhood and coinbase.and delivery workers with drivers for amazon reporting that they face challenges, as well. amazon sellers also reporting that they were unable to access seller central used to manage orders amazon saying the root cause of the issue is calling an impairment of several network devices and working to for example the problem and bringing you more headlines as they come. back do you. >> thank you ironic to talk about nasdaq's efforts to use the technology. >> the move. moving to the cloud. impairment of a structural thing there. it's interesting to know what caused that impairment first thought is this a result of an outside menace. >> they say the root cause is an impairment of the several network devices. you know there's multiple mitigation paths. have seen some science of recovery some other recent ones in google's case proven to be scripting errors is this more of the same or something else going on? we'll get more the averages are close to all-time highs once again. the russell is nea

of robinhood's business becomes increasingly important to revenue for the company.ll-time high back in august guys >> kate, obviously this sounds like they wanted to beef up and offer more when it comes to the crypto offering. that is robd remind us how important it is to the typical traders. dogecoin is very popular as a meme stock is it popular with the robinhood crowd in general dogecoin specifically. >> second quarter dogecoin made up a bigger portion of the revenue but it's been sort of cyclical first quarter goldmaamestop. and then most recent quarter the cfo said we didn't see much volatility and reliability on the volatility and whatever the flavor of the week or month is coming to cryptocurrencies or stocks but increasingly important and competitive pressure with single or finteches with cryptocurrencies and does seem that they're focused on building out that side of the business to differentiate away from stocks in general and be a one stop shop for finance which is the pitch that paypal and square have made and competition there. >> kate, thank you so muc

. >>> robinhood sees a big drop. much more when we take you inside the "market zone.h or listen to us live on the go with the cnbc app we have stabilized here a little bit on the market down 177 on the dow. we'll be right back. >>> tonight, the supreme court hears a major abortion case. why roe v. wade's future is now in doubt >>> plus, the michigan school the xfinity black friday sales event is happening now on xfinity mobile. now new and existing customers can get our best wireless deal of the year - up to $1,000 in savings - for a limited time only. on the most reliable network nationwide, plus nationwide 5g. act now and save up to $1,000 with xfinity mobile. so you can go all out on gifts for the family - during our best wireless deal of the year... the xfinity black friday sales event. click, call or visit a store today. you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire powe

speaking of fintechs, robinhood launching the beta phase for its most-wanted crypto products next month, we'll have those details for you and retailers have a new strategy. they say that it's easier to just keep that ugly sweater or that unwanted christmas gift. we're going to tell you why you should keep it, next. the closing bell ringing in about what 28 minutes from now, dow's up 19 points, any gain today is indeed a record high, and the nasdaq is looking to break its two-day losing streak, and finally, have an up arrow, "clayman countdown" coming right back. ♪♪ care. it has the power to change the way we see things. ♪♪ it inspires us to go further. ♪♪ it has our back. and goes out of its way to help. ♪♪ when you start with care, you get a different kind of bank. truist. born to care. lauren: all right, take a look here, you have the dow jones industrial average and the s&p still on track for record closes i'm looking at the s&p, because it really was a tremendous year. when you think about it, they had 11 100-point moves this year , i mean, it's just going up and up, but kind of tes

my question for you today is robinhood. >> no.here's the problem with robinhood they've got the wrong customer base they have a great app. remember when i had that young person come on saying why am i using robin hood because i'm tired of candy crush. that, ladies and gentlemen, is the conclusion of the lightning round. >> announcer: the lightning round is sponsored by t.d. ameritrade coming up, hut hut hike. stick with cramer for a special no huddle next it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪ >>> look, maybe it's because i'm from philadelphia and i love a good figh

. >> there's a long list of them at the top of the list is ro robinhoods it was at the heart of the meme frenzy that we saw it led to the over estimation of valuation and growth trajectory. i think data points to names like robinhood peleton was out there as a work from home play people aren't rushing to buy new bikes and more of tech name, docusign last quarter was a disaster. they confessed that pandemic tailwinds faded a lot faster than they expected and faster than the investment community expected i don't think you can touch it for one or two more quarters >> docusign and peleton benefitted from the work from home trade we starpted off talking with our colleague make about the fact we're not seeing those stocks react to the negative news about the omicron omicron variant the way they used to i'm wondering how you're watching this latest covid news. >> you're not seeing a rush to buy these stocks i've been a vocal bear op f zoom that's probably the one stock that benefits. it does feel like the schools will shift to remote learning to some degree which is my fear and a lot of other p

robinhood is noting issues dr. anthony fauci saying early data suggests the omicron variant is not worse than others it is highly transmissible but not the same as the delta. mark meadows signaling a sharp reversal his attorneys saying meadows will not cooperate with the january 6th congressional investigation. the attorney says the panel has shown no respect for executive privileges >>> that's the news this hour, scott. back over to you >>> kathy woods, we talked about that down nearly 20% this year now she has a new etf. what it is and the stocks that are in it when we come back. >>> oil giant exxon mobil announcing it aims to have net zero by 2030 electrifying operations, expanding methane and eliminating routine flaring as governments pressure energy companies to fight against clip mat change exxon recently committed $15 billion to lower emissions investments over the next six years. we now find that 85% of individual investors are interested in sustainable investing. among millennials, the interest is even str

. >> and speaking of relative performance, robinhood, didi, all those companies went public this year and have all seen their shares slide yet leslie picker, we continue to see more ipos and spacs and direct listings. 2021 will end as a record year in terms of money raised i keep asking this question, leslie when is this going to hit private markets and there really hasn't been any indication it has. we have companies on all the time that are raising rounds at ever higher valuations like data breaks recently. >> yeah, it's pretty remarkable because usually what happens in the public market, it is a lagging indicator, but it does ultimately affect the private markets, but we haven't yet seen that with the onslaugt of deals, you'd think performance would be better ipos notching a record in terms of stand alone companies combined with special purpose acquisition companies or spacs the capital markets generated $318 billion worth of new issues by far a record, even adjusting for inflation. those numbers alone may indicate a healthy market ipos of 2021 are down 11% while the nasdaq is up 2

a special edition of studio 1.0 with the robinhood ceo. you won't want to miss it.is bloomberg. ♪ vonnie: it's 5:30 p.m. in new york. goldman sachs is running to make covid vaccination booster shots compulsory as the firm stands by. anyone entering offices must get a booster shot if they are eligible. meanwhile, apple has closed 16 stores across near city because of rising cases. online orders are still allowed. deliberations continue in delayed maxwell sex trafficking trial as jurors

for example, the settlement that came out this year with robinhood.dgr robinhood may have been extending that to traders who shouldn't necessarily have been using that. romaine: interesting moves by robinhood. we'll seal what's in store for this company in 2022. this has been quite a year. robinhood futured a lot of interest among retail traders. do you remember naked brands? it was a swim wear company that inpoliticsically rallied like 800% in january? tim: what goes up must come down. if you invested in it on that upswing a few months ago. it's down from its february highs, more than 76%. romaine: yeah, we should look back. we're going to be here tomorrow, i'm told. the markets are open because of what tim told memory, some sort of quirky rule they came up with here. back a year ago, the stocks we were talking about were stocks that nobody ever talked about before and these were huge moneymakers for those brave enough to get on that train. krity: web -- remember, january is a seasonally volatile month so maybe we'll see that happen again in 022. rom

part of the answer is the person who is on robinhood and trading gamestop options is really the same also owning bitcoin and ethereum. so if we go into 2022 and we get a massive rise in cryptocurrencies, you are going to see that wealth effect spread over into the options again. we know that this investor is savvy in both pockets. the other thing is, i don't know if you recall when we had that the lability freak out with the vix -- that viability freak out the vix, you saw the retail owning cohort quit, so it may not even be that they are trying to do an upside call. you might actually see that put option volume really spreading as well. kailey: let the record show, retail traders can be bearish on some occasions. you mentioned the cryptocurrencies. we talk a lot about equity volatility. there was a narrative out there that crypto volatility was going to start to become much more subdued as you have institutional adoption, as you have the introduction of formal mechanisms like a crypto etf. we did get those things this year, and yet you are seeing just as much volatility. do you have

then robinhood crashed the party. >> they announced trading restrictions.t cited recent volatility. gamestop trades are now blocked. >> reporter: that infuhr rated traders, and robinhood's ceo later apologized before congress. >> i'm sorry for what happened, but what i commit to is making sure that we improve. >> reporter: a space tourism boom. >> the new space race, the bat offensively the billionaires. >> reporter: the modern space race is not between countries but ultra rich men. richard branson, jeff bezos, elon musk all funneled their immense wealth into space travel and innovation. and this year branson's and bezos' rivalry took center stage. >> yay! >> reporter: branson took flight on july 11th. >> the first person to ride into space aboard a rocket he helped fund. >> reporter: edging out bezos by nine days. what followed were several high-profile private space flights sending both celebs -- >> captain kirk himself, the great william shatner. >> reporter: -- and wealthy thrill seekers into space. number eight, cyberattacks held industries for ransom

new york's 2021 heroes, robinhood the largest poverty foundation in new york.o education and later earning several degrees, five of them while in prison. he launched his own group to reform the criminal justice system and mentors others who were incarcerated. marcus pass grew up in a struggling brooklyn neighborhood and found a love for helping underserved kids and a leading voice in partnership for children working 24/7 so families like his can succeed. a homeless mother facing domestic violence while living in a shelter with her newborn, now enrolled in a specialized education program working in technology. today she's a budding success, what a fantastic story. i hope we're all inspired by those heroes. that wraps us this hour. i'm stephanie ruehl. jose diaz-balart picks up breaking coverage right now. >> good morning, it's 10:00 a.m. eastern/7:00 a.m.

robinhood continues a slide down 2.5% much more on "fast money" at 5:00 and reaction to day one of thek. don't go anywhere. >>> welcome back to "squawk on the street." we are still tracking a sell-off in certain technology names. within that particular sector we are seeing weakness in a variety of stocks including those in remote working players like adobe on the software side and service now as well. you have solar stocks coming under pressure today also keep an eye on microsoft down 2% so far as megatech nation get caught up in that broader tech sell-off. there's more "ua othsqwkn e street" coming up. stay with us here. don't touch that dial. reducing our carbon emissions to net zero may be our biggest challenge yet. there's no single action that will lead us to carbon neutrality. but there is a single source of essential sustainability intelligence. s&p global sustainable1. >>> nike looking to expand its presence terms were not disclosed but the deal will extend the digital transformation this is what the co-founder told us back in march >> it's really amazing how we work with shoes

that's where we show you the chart and tell you the story robinhood is on pace for the 11th day of lossesthe past 12, down 30% in that time. cathie wood joined sara eisen for a cnbc pro talk this morning where she explained why she is still bullish on the name. for that full interview head over to cnbc.com/pro here is a sneak peek of what she said >> at the end of the day we do think the stock is settling down it has the best user interface out there for retail investors despite the controversies, we see a lot of evidence that investors on robinhood are not just trading like crazy, high-frequency traders - [announcer] at southern new hampshire university, we never stop celebrating our students. from day one to graduation to your dream job, that's why we're keeping your tuition low for the 10th year in a row. - [student] the affordability and the quality of education, it can be enough to change your life. - [announcer] as a nonprofit university, we believe in making college more affordable for everyone. - southern new hampshire university, it was just amazing experience. - [announcer] find

. >> we applaud the transparency they have at arc and robinhood, 52-week high.ter market performance for many initial public offerings this year and i'm not just talking about the many spacs trading below their $10 issuance price there's also prices out there that have really suffered in the after market and never recovered. and robinhood certainly is one of the key words there and 63% over the last three months >> it's been a rough year and goes back to a point you made earlier about the reerating that perhaps potentially we're going to see in the private markets and what that means for 2022 as well as future ipo pipeline. this is a big year, not only for spacs but for traditional ipos perhaps gives some pause in terms of where we see that money go, both in the private market and how and when the trajectory is for the companies to then go public >> meantime, clearly risk-off mode dow's down more than 1.5%. bitcoin under pressure a lot of the growth names. we'll take a short break don't go away. across the country i came across this house with water dripping fro

they do the same to their friends and family, so really a snowball effect here fintech like robinhoodting and referrals as well as giveaways to drive user growth it is a way for the cash app to differentiate from a growing list of fintechs offering competing programs, companies from affirm to paypal have talked about being the go-to finance app for users. kelly. >> i was going to say i'm going to get it so i can gift it unless the other apps start to offer the same thing thank you, kate rooney >>> despite fintech struggles i was just laying out, my next guest is sticking with the space. she has a buy rating on traditional and newer rating payment stock. lisa moffett, it is great to have you back. cathie wood was just out here saying the reason innovation stocks have been sliding is because of inflation would it apply to the fintech names? >> it would definitely apply to square lisa ellis with moffett nathanson. it has a lot of the valuation tied to the long-term value in the company which as interest rates rise naturally compress that companies like visa and mastercard which, as you h

coming up, a special edition of "studio 1.0" with the robinhood ceo vlad tenev. don't want to miss it. this is bloomberg. ♪ hey, angie! you forgot your phone! hey lou! angie forget her phone again? yep. lou! mom said she could save up to $400 on her wireless bill by switching to xfinity internet and mobile. with nationwide 5g at no extra cost. and lou! on the most reliable network, lou! smart kid, bill. oh oh so true. and now, the moon christmas special. gotta go! take the savings challenge at xfinitymobile.com/mysavings or visit an xfinity store to learn how our switch squad makes switching fast and easy this holiday season. >> these are your first word headlines from around the world. a leading israeli hospital has started what it says is the first formal clinical trial of its coronavirus vaccine. the medical center has begun to administer the shot. they currently have a low antibody count. the person leading the trial says initial data will be available in a few days. japan's industrial reduction jumped by record in november, a the countries recovering. bounce

coming up, a special edition of studio 1.0 with the robinhood ceo vlad tanev. miss it. this is bloomberg. ♪ >> this is bloomberg. here are the first word headlines. u.s. center for disease control cut its recommended period for covid-19 escalation from 10 days to five as long as people don't have any symptoms. delta airlines says this will help them manage crew shortages. thousands of flights were canceled. the u.k. health secretary says people should remain cautious them a particularly during new year's celebrations. he doesn't think further measures will be needed, but

netflix — disney plus and the trading app robinhood have also been affected.ha haldea from raymond james. it is see you. this is not good at all for us on. its cloud services is something you really want to push to its clients. , , ., ., clients. yes. it is a world leader in _ clients. yes. it is a world leader in cloud _ clients. yes. it is a world | leader in cloud computing services including software services including software services associated with the cloud. the issue with this update is that delivery drivers around the world, especially in the united states, sitting idle and they cannot afford a big logjam of deliveries leading up to the ski holiday season which is the biggest for many of its clients who use amazon around the world. this is a real issue. the company did not have an update as to when the outage would actually ease and it is not a good look for amazon in the ski season. aha, not a good look for amazon in the ski season.— the ski season. a critical time for amazon. _ the ski season. a critical time for amazon. one _ the ski season. a cr

including netflix, the trading app, robinhood, amazon's ring security cameras, mobile banking app, chime and the payment network system venmo. even some airlines, like southwest and delta, were impacted while facebook was showing spikes in outage reports, the issue, also wreaking havoc on amazon's delivery operation. bringing down critical tools used by amazon warehouse and delivery workers. the problem preventing drivers from getting routes or packages and shutting down communication between amazon and the thousands of drivers. it relies on 3 delivery service partners to set an amazon dot com. incorporated app used to communicate with delivery drivers was down vans that were supposed to be on the road. delivering packages were sitting idle with no communication from the company. and now packages are piling up ahead of the christmas season. however, amazon hasn't responded to ortiz request about how many warehouses and delivery stations we're experiencing issues as a result of the outage. amazon web services power cloud computes for about a 3rd of the internet. the issue originated when

had a robinhood.e know it struggled but interesting given the market this year for risk taking and the kind stalwart that benefited most. >> i'm glad you brought up crypto bitcoin is having a big fall down 7%. come down below that 50,000. below 48,000 right now it is interesting. it felt like bitcoin has core lated to the stock market well but in december that's broken down because bitcoin is down double digits for the month and the s&p up 5% or so for the month. how do you view the action and what's driving it if it's not just a pure risk taking sentiment indicator like we have seen with stocks lately. >> yeah. i think it mostly still is maybe not be the big cap stocks working really well. i think cross ownership of crypto exists with the fast moving, highly speculative names coming in for selling and from april 15th the stock market outperformed bitcoin by 40 percentage point just the braun happened in the year orr 15 months or so prior to the spring and so it's like giving back since then and i thi

when you get robinhood trading, point-and-click, it is money. jonathan: you just offended half the audience. you have to go. lisa: [laughter] jonathan: enjoy the holidays. everyone we know on fixed income says the same thing. lisa: they said it behind closed doors. at the same time, it has not been true over the past couple of years. the stock market has been more of a predictor in terms of the tone. what is the bond market telling us? jonathan: the earnings for the equity market have delivered in a massive way. to say this is all about the fed, look at the earnings, it is not all about the fed. tom: i cannot say enough about the one-year year call, to your call, three your call. jonathan: welcome back. thank you for coming. lisa: [laughter] tom: i have more time off? jonathan: i have more time off. and then you are off afterward. i might not come back. from new york, this is bloomberg. ♪ ritika: i am ritika gupta. its highest level in more than a decade. consumer prices rose 5.1% in the last year. driven by gasoline and new cars. it might persu

issuing some new rules in the new year joining us now, robinhood chief legal officer.for having me. one would have to assume that congress is actually going to act i heard joe comment on things happening in washington it is a stretch to believe anything on crypto coming out soon >> that's really the question. about legislation or influencing what agagary ginsler and what hi doing. >> i think it will be informative. the world of crypto here in the u.s. is kind of dividing into two camps. one is bigger than the other the other running away from regulation and trying to avoid regulation the other camp and robinhood is sort of running into the regulation you have entities already so highly regulated who put such a premium on compliance. saying, we can deal with regulation it doesn't squash innovation doesn't take away investor choice the problem the chair has here is he doesn't have legislation to give him the authority to do probably what he wants to do >> which is what >> i think the analog here is derivatives. we saw what happened in the financial crisis and what happen

. >> we know also, just a huge robinhood name coin base is now down to $265. the s.e.c. doesn't like how a lot of thing were runs at these ba banks this goes a true collapse. it can happen on a saturday, so the question is, i don't know. is the people who like bitcoin, they like it people who don't, don't. people who like bitcoin, they're vociferous in how much they love it this is a buying opportunity, so there's not a lot of analytics involved. >> there's a long debate, especially giving -- about whether you own the platform or the currency >> the fact they can just roll over -- its worth talking about robinhood. it is a disaster, and you hear nothing, right it just goes down a bit regularly. they're the quietest of any of these. wow, people are losing fortunes. >> you've tried to get answers from them about how they have evolved, but from 85 to 21, it's been a tough ride for them >>> there's the opening bell and the crept nbc at the big board haggerty, making its debut at the nyse at the nasdaq, a big day for buzzfeed, the first publicly traded purely digital -- >> be

patel, thank you. >> thanks. >>> coming up, when we return, gamestop, robinhood and others is the meme >>> and later, slack's co-founder and ceo stewart butterfield is going to join us. "squawk" returns after this. switching wireless carriers is easy with xfinity. just lean on our helpful switch squad to help you save with xfinity mobile. they can help break up with your current carrier for you and transfer your info to your new phone. giving you a fast and easy experience that can save you hundreds a year on your wireless bill. visit your nearest xfinity store and see how the switch squad can help you switch and save. get $200 off a new eligible 5g phone when you switch to xfinity mobile. talk with our helpful switch squad at your local xfinity store today. >>> welcome back to "squawk. the so-called meme stock getting slammed in trading yesterday but that's nothing new check out the one-month performance of high-flying names, amc and robin hood, j gamestop down by more than a third. joining us, tracy, what happened to the diamond hands? >> what do you think is underlying this? >> i th

so watch robinhood and lennar is probably, the last i checked, the biggest pre-mark declineer in theeport, down 7% right now, a hot market interest rates driven probably by the fed but it comes out with earnings that missed expectation on revenues that beat, implying perhaps the housing market remains hot but the soaring costs for lumber and constituent products led to earnings declines there so lennar, earnings come short of expectations, revenue beat, guys, i'll sends things back over to you. >> okay the domino after domino. thanks, man. >>> coming up, when we return, delta ceo ed bastian and the overall sector we got that interview coming up right here on "squawk. futures right now are looking up j. powell is making the market happen today, dow up about 334 points nasdaq up 132 points s&p 500 up 232 points. we are back after this -aflac! -i love my gold jacket, but that aflac blue feels so right. when you feel right, you coach right. i know that's right! prime never believed in double coverage, but health insurance and aflac...is money. ♪ must be the money ♪ and i know how coach p

r robinhood -- we have a spac piece tonight.uch awful merchandise offered that people are losing a huge amount of money. in the confines of so many stocks being good, there's a lot of people who own robinhood. i don't know, hey, look, valero is moving. that was a joke, but we have to be careful if you lose the cloud stocks, lose the companies that are losing money, about have great 40% revenue growth, that's not enough anymore, and i'm worried about retail because of omicron. i think that omicron is sweeping the nation >> from a foot traffic point of view >> maybe you want to take a break, but mark mahaney's work, his service says amazon is more negative i don't know if amazon is not that good and the mall is not that good, we have to pull back alternates a little shopify is great i think shopify and etsy are the two that don't have supply chain problems i really like both when i see a stock like adobe down, i say, okay, be a little circumspect. adobe is a great company. >>> if david were here, we would definitely have mentioned

rise of the reddit rebels market trend of 2021 the wall street says crowds as gamestop, amc and robinhood got held by diamond hands but what will 2022 bring, will talk trading transfer the new year of the ceo and just a little bit. the electric vehicle revolution dominated by tesla may finally go mainstream as more automakers shifting to high gear ceo of lithium here to give us his easy outlook for the new year. the christmas travel nightmare far from over unfortunately as omicron variant causes massive flight cancellations and delays at the nation's airports. will go live to new york laguardia for an up-to-the-minute look at the situation. i feel so bad for those folks. i'm lauren simonetti and for liz claman. we'll take a look at the shares of the airline and other travel related companies getting slammed is weather related problems for the flight cancellations and rising omicron cases trigger fear of tougher restrictions. overshadowing that today is a really strong retail sales report underscoring the u.s. economy, mastercard reports retail sales rose 8.5% during the holiday season. no

and offshore >> one last question i am concerned when i see for instance the, say the cryptos that robinhood on. i see this solano. doge i wonder whether my ethereum orbit coin aren't hurt by the fact a lot of people are getting taken in by what you and i may not think are real currencies? what do we do about the doge the ones that are taking younger people's money and may not be anything as legitimate >> notably one side of this is you need to have competition you don't want to just have regulars come in, choose the winner, choose the loser and force all of the market cap into things that might not make sense. on the other hand, you know, you want to make sure that people aren't just buying into scams or things like that i don't think it's a trivial thing to balance it. i think what i'd say is that there should be a lot more tranz p transparency about what these assets do. if you want to list a token, list what the use cases of the token is statistics about its usage list its history who holds the tokens to the extent they're large owners and things like that so that at least you can have t

robinhood off by 29% and plug power, an ev name, down 26%. kelly?onth down 17% today flipping between gains and losses as it tests a key technical level. let's bring in keatie stockton. what do you see? >> we have a first short term counter trend buy signal and right around that early november high we had a sell signal based on the same model from one of the demark indicators and the nature of the signal is that it's generated into the downdrafts. there is support for bitcoin around 44,000 and above that level. signal would be made higher conviction near that support and also confirmed by little turn around in momentum we don't yet have that but could happen in the coming days ahead so that's something we're watching for to affirm this reading from bitcoin. >> was bitcoin ever in the charts looking to you like it could hit 100k this year when it had the strength this year did it look like that would be hard to sustain >> for me i was watching the final resistance just shy of 65,000 and what we wanted to see to arrive at that higher price target is a

robinhood quickly followed with its own cryptogifting option as we want as crypto.com, swan bitcoin andt you are also gifting volatility the asset is known to rise and fall between 10% and 20%, sometimes in just a matter of hours. that gift may come with a tax bill if the value goes up, friends and families will eventually have to pay taxes on it, that is, if and when they sell. shep. >>> thank you, rooney. >>> this is what's topping cnbc's on the money. nearly one third of all americans skipped necessary medical care in the past three months, because they couldn't afford it. that's triple since march. the news from a new study by gallup and west health, as covid flares up again. people put off routine doctor visits because of the pandemic are now facing higher costs. >>> the new kid on the block getting sued, against the block. that jax dorsey's digital payments company previously known as square. >>> it alleges that the name change may call confusion. it claims that dorsey's company is capitalizing on its reputation. >>> the boss hitting it big. bruce springsteen reportedly just sold