in short, it's a quality spac play with almost nothing in common with the spac this is already a goodsiness before it became public and they've been putting the money they raise from the spac merger to work on buying up the bowling centers. they bought another one and signed definitive purchase agreements for eight more. that's giving the numbers a big boost, exactly what the spac is meant for. unlike most spac plays that consistently over promised and under deliver, bowlero is on pace to beat its own forecast. with most spac plays, it's tough to get a handle how many shares are out there. new stock seems to come out of in where diluting anyone foolish enough to be a buyer back on february 7th when the stock was down they announced a 200 million share and warned buyback, not a selling expedition but a buyback in the spring they redeemed the warrants with control. like the real company. thanks to the buyback, they've already retired 80% of the new shares created during the redemption process and still got 160 million left in firepower for more authorization get this, in short, bowlero

the godmother of the spac world, that's what we're calling her. a fox business exclusive. her investment firm was among the first to enter the spac market in 2015. i guess to date, what, 15 blank check mergers? >> i think that's right. liz: take us back to 2015, because there is this misidentification where people think this all started during the lockdown and the pandemic, but spacs were well before that. >> i think spacs go back to the mid '90s, and it really talks -- you are asking exactly the right question, or liz, because spacs are a vehicle to take companies to the public and to fill the capital needs that a variety of companies have at different times in the economy. so in the '90s, it was steel companies that couldn't get capital. and later on other companies came to the market. but in 2015 it began to be clear that financial technology companies were meeting the level of maturity which would allow them to be public companies. liz: you know, i've got to ask you about these star-led mergers and star-led spacs that have been out there. and

what's happening in a lot of these spacs is that the spac in the overvalue a privately-held company andhey're starting with the huge, huge price levels for stock and they really have no place to go other than down. in our situation, we have two publicly traded companies, value of our company is during the trading day, you go with the value of our company and it's every single second. we have very well-known values and putting together a deal that's a fair evaluation of the two entities and it's very simple. plus, we're both sec compliant companies where the jurisdiction of the sec and very different than most spac combinations. liz: this is a shortcut way to list on the nasdaq; correct. you flip and able to take on the spacs identity as certainly that position and space. so my question now becomes for investors looking toward what you plan to extract, forget visitors, how about customers, who is approaching you and who wants the minerals and is the word out? >> the word is out. you've seen the reports about automobile companies, steel companies and they're going out and searching for th

take us through your view. >> it is not your father's spac market anymore.he markets have changed in the days where they would go after pre-revenue companies are changed. there's a lot more specs that have money in trusts and they are looking for companies that have growing revenues and consistent profitability. so that created competition in the spec market. today, going public through the spac market is on parity with going direct market ipo. then when you figure in the fact we had a $300 million backstop on the deal, it made it compelling to go this way. the days where there were sponsors and founder shares are not there anymore. it is all based on upside warrants. >> i know you are in talks on other deals before this and you got close, did you ever think about giving up, giving money back to shareholders before you decided on the flex jet deal? todd: sure. all along we said we would take a pass versus throw an interception. that was something we would have been happy to do. honestly, we have a tremendous company here and a tremendous management team, so

a spac play that's actually worth owning i'm talking about bowlero.r-o the company that's rolling up the boeing industry with acquisitions you may recognize them as cramer faves amf or a bunch of them unlike every other post-spac stock bowlero's genuinely profitable and they're consistently beating expectations including last month when they reported a fantastic quarter after that they asked if the company could come on because i profiled it. and i just couldn't say no are you kidding me the stock's already given us a quick 12% gain since we highlight td last week we were happy to oblige. let's check in with tom leo shannon the founder and ceo of bowlero to get a better read on this business. mr. shannon, welcome to "mad money. >> thank you, jim, nice to be here >> he's got that -- this is what i do too i mean, look when we bowl, we're somebody special. and i really feel that way and i think you can tell us the bowling experience changes and is the best way for all generations to have parties and get together, particularly after covid. >> it's so true

there have been many successful spacs.and then we hit the hot market of the last two years, which is already dissipating. but spacs will be here for a long time. high quality spacs we made an agreement with circle that was to seek approval of the s.e.c. a while ago it has been a very, very strong collaboration between a acquisition and circle we wait for the approval from the s.e.c. so we can go public we like this business in circle. it is about payments it is a really well run business by jeremy aler we're encouraging the development of more robust regulatory platforms around stable coins we think we would benefit as the most conservative. so, yes, we're very much looking forward to taking circle public. >> i have a number of things, i'll just -- why do we need stable clients the u.s. dollar is up 15% this year everybody wants a dollar, it is most valuable place to turn right now. >> it is just a digital version of the dollar. and i think to say we're not going to have a digital version of the dollar would be very -- >>

into spacs to go public are so different.t are looking for profitable growing revenue companies. and we certainly fit that bill and when you have competition among the spacs, obviously, it then lowers your cost to market. in many cases, the cost to go to market through a spac now is lower than if it was direct to market through an ipo. and when you take into effect that there's a $300 million backstop on the deal, then it also meant that it made it very compelling to do it in this manner >> for those investors out there today looking at your company and trying to think about the valuation and specifically about the comps, right, what is the comparable company to compare it to, i just mentioned wheels up that came through via a spac you could speak about some of the other companies you think you compete with i know at one point people were looking at blade as another type of company, but you're a profitable company speak to how you think the investing community should think about comparables. >> first of all, we're so differen

this thing's a spac. it's a 12.t's doing very well it's buying back stock i mean, i don't know i thought it was a pretty good idea >> we had the ceo on >> how was it? she? >> you don't remember? >> i don't remember anything but i do remember this i remember my documentary on exxonmobil i remember learning a great deal >> i love that documentary >> "house of cards." and i mention all of this because, yesterday, exxonmobil announced an interesting transaction with cf industries, where they are going to be acting as the unit that captures the carbon and sequestrates it for cf as much as two million tons a year of carbon. had a chance to sit down with the head of low carbon solutions at exxonmobil. when we did the documentary, it was a guy named joe. >> this is different from buying a company. >> correct this is exxon coming in and saying, hey, we can do your carbon capture for you, and this is going to be additive for us and for you. he explained it. take a listen. >> so, we're taking two million tons a year of carbon

spacs liquidating at scale here.eing that as someone looking for good investment opportunities? brad: most spacs didn't deserve to be $10 a share. now they are at a price where they are supposed to be. but i am stumbling across some that are good businesses, that have good five-year plans, good management teams, but they need capital and vision. sonali: a big theme here at the greenwich economic forum has been a lot of negativity around the macro economic environment. you saw with the imf said today. also the idea that valuations are becoming suppressed. there are chances to buy and start a business when capital is constrained. how do you sum up the double edge sword that we are facing? brad: my world is dealing with the employees between our companies, warehouse workers, truck drivers, dockworkers, and they are hurting a lot. that has to get under control. the other part of my world is ceos of large companies, supply chain officers, entrepreneurs who are customers of ours. they are not as negative as you are hearing

>> spac deals have not been so popular in the last six months i would say. hold up overnight is fantastic. they have gone through a massive dilution with the purchase of the wolfsburg project. to hold up quite well, we've done a good job in explaining it to the shareholders of the spac, that it is a very good deal for them and a good deal for the european lithium. because in australia, we are swamped with so many different lithium stocks in australia itself. being in europe, there's a lot of skepticism. but it will be the first -- it is the only licensed mine in europe. that skepticism, being in a bigger market, a bigger market where we're going to be more accepted. again, i always reiterate there's so many lithium players in australia that the fund managers here sort of ignore a smaller operation in europe. and again, i was i keep on saying underneath the scapegoat, but the mine is completely underground. the plant is going to be built underground. we've had absolutely zero environmental issues come up with all three levels of government. that's the local t

very exciting figure so, i want -- this is a spac i want to alert people to a spac that went to -- wentamatically and had been a public company that went private. called getty images holdings the symbol is gety people got very excited about it the stock went to 30 and it is now at 5 and i put that out not to dim the, you know, not to tamp the hopes of anything. it just came public. but to remind people what can happen to a legitimate company that is actually profitable that's a spac. let's be aware that even profitable spacs have hurt our viewers tremendously >> jim, you mentioned nat gas, and you mentioned grain over the weekend. russia, obviously, not cooperating with the corridor. and also, there's a new round of sanctions that will make it tough to have an insured ship take oil from russia beginning tomorrow >> and that matters, obviously, president xi has been, i think, a bion, david, why putin has remained in power. i think it's a perilous time for putin, not just for zelenskyy. >> that may be the case. but of course, that also raises a lot of fears, because if you corner putin, w

you're going to dip into spacs? >> i'm only looking for one, but most of them weren't really good.y shouldn't have been taken public in the first place. but there are some that are really interesting. they're trading 10, 20,000 shares a day, there's no natural demand for them, they can't grow. is so if i come in and put a billion, billion and a half dollars of fresh equity, i become ceo, we invigorate the company, there could be manager there. i'm going to look. i've just looked on a cursory basis. liz: well, tech -- i'm really digging here, because i'm fascinateed. >> i was just out in silicon valley, and i saw some big hitters. tech's dangerous. it can be really, really big or bust. you look at my track record -- i want to make sure if we do something in tech the, so i looked at cyber. i looked at cyber and talked to people in israel, on the west coast. i love cyber from the point of view that's a big problem -- liz: and there's a need, yeah. >> big need. and that's how you make a lot of money, you position yourself to fill the big need. but the valuations are crazy. they're, lik

. >> i imagine it's concentrated, too, in places like crypto and spacs and other pockets of the higher speculation areas of the market is that what you're seeing >> crypto is very unique and there aren't that many levered entities we were involved with an entity that had problems and the spac market, i don't think, was too levered. it was just valuation problems, highly speculative high-growth companies. i don't believe it's going to be -- the last cycle it was centered around commodities, a lot of oil and gas in the past down cycle i think this time it's just going to be that idiosyncratic company that had too much floating rate debt or was too levered or is exposed to some angle of the consumer market that might get -- might have a problem due to inflation and gas prices so it's interesting, i don't think it will be a sector this time i think it will be that company that over-levered itself going into the cycle. >> that's interesting, and also speaks to the fact that the system is in better shape. ken, thank you it's always good to catch up with you i appreciate it. >> thank you grea

it's at five all the way up and we got the spac money out i did not like that. i think sofi interesting bank building itself out is at the right level to buy now we're going to tyler in california, tyler? >> caller: big boo-yah from california how are you doing, jim >> jim is doing well how about you? >> caller: doing good, thank you for asking i'll make it quick. >> sure. >> caller: insiders and institutional banks buying up shares and the stock beating the last four earnings has a 4.38% dividend yield i would like to know what you think of especially with the cost of food going up how this affects a stock like khc. >> okay. kraft heinz is a terrible company but its stock reflects an even horrible -- more horrible company so the stock is too cheap versus what is a not great company and you know what? sometimes we can make money like that you never know i think you can with that one. the dollar strength is hitting the market hard including some of my favorites like proctor, j&j but the chart suggestions it could be peaking and a weaker dollar would be a gigantic

messaging that decembeisappearse your parents see it, as bad as that is it's more than the average spacp touchable those are. not enough people that invest or trade have lived through times like these that i have it's temping to buy beaten down stocks with increasing brand names and i saw many do that, well, you lost fortunes. instead, you need this moment right now. monday morning to get out of the minors and join me in the majors as we say in fantasy football now, we want a high floor but not a high ceiling it's not time to make risky bets on down and out speculative stocks it's time to save dollars and put them in the best, not the worst. i like to say there is always a bull market some and evwhere an. i'm here for you. >>> the january six committee signs a subpoena for former president trump. i'm tyler mathison in for shepard smith. >> announcer: when the committee wants to depose him. >>> steve bannon sentenced for contempt of congress. >> this thing i'm above the law is a lie. >> announcer: the prison time ordered and why he may never have to serve it. >> a michigan family goes mi

you have nvidia, gm, i like them, met the management and smaller spac names the last time mobile eye an independent company they were more or less the only game in town they experienced tremendous revenue growth, the margins have come way down. you could argue that intel made the right call here because until a year ago, the market loved fast growing tech plays regardless of the profitability. that's no longer the case. of course, intel owns 94% so if they plan to sell down the road, that could put real pressure on the stock. i'm very worried about that. on the other hand, they just wanted mobile eye to get independent valuation. we have nothing to worry about but we don't know. let's talk valuation after the stock's monster move, mobile eye is trading at roughly 24 times back of the envelope earnings kakcalculations i like mobile eye the business i think mobile eye the stock will have a tough time once people realize the fed's war on inflation is far from over if you want a piece wait for pull back down below $24 and paying less than 20 times earnings and that would be a nice price

a spac is kind of like that. >> yes, so here is an interesting question most of the market is invested in passive indexed etfs. there are a small percentage of etfs that are different things 2% and herb mentioned leverage and inverse etfs do we really need three times leverage oil etfs? i don't think so some people do, fine as long as it is not a systemic risk and here herb and i are in complete agreement on this and i don't see a lot of evidence of that single stock etfs, i'm not a big fan. does the world need three times inverse tesla etfs i don't think so either. but the industry is changing and evolving and now that it has been saturated with so many etfs, they are looking for new business opportunities i say fine as long as i don't see evidence that it causes weird gyrations in the overall stocks or the overall market >> and what kind of signs would you be looking for to indicate that is the case, bob? >> well, for example we did have a problem with volatility etfs a couple years ago and they had to change the eflt etf, they had to tighten some bands. and that is how the market ev

for self driving cars to make cars safer and vivid seats are rare unicorn that makes the profit as a spacgood place to look. jack: even a blind squirrel can find a nut or one oh 2 or 3. how much farther can stocks fall and what are wall street analysts missing? i'm asking liz ann saunders another busy day? of course - you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want - your team, ours or a mix of both. with the nation's largest ip converged network. from the most innovative company. bring on today with comcast business. powering possibilities. (driver) conventional thinking would say verizon has the largest and fastest 5g network. but, they don't. they only cover select cities with 5g. and with coverage of over 96% of interstate highway miles, they've got us covered. thanks to avalara we can calculate sales tax on almost anything, anywhere, automatically. avalarahhhhh.

that about a spac let's go to jason in illinois.g-time viewer, first-time caller appreciate everything you do and congrats on the phillies >> thanks a lot. >> caller: but anyway, wanted to talk to you about clf. >> the quarter wasn't that good. the company tried to say it wasn't as cyclical as it turned out to be. as far as i'm concerned, once you get to the 13 level you're not going to stop right there. it's going to go even lower. that's why i continue to prefer nucor. better company i'm not done we're taking piroz in california >> caller: hi, jim thanks for taking my call. really appreciate it >> of course >> caller: as a garp and momentum investor i wanted to get your opinion on a health care stock that is showing great technical momentum and a fantastic pipeline for drugs in the diabetes, kidney disease and sickle cell disease space. it has currently a p/e ratio of 25 and it has a great balance sheet. what are your thoughts on vrtx, vertex pharmaceuticals >> ever since what they've done for cystic fibrosis i've been that compan

for self driving cars to make cars safer and vivid seats are rare unicorn that makes the profit as a spac. a good place to look. jack: even a blind squirrel can find a nut or one oh 2 or 3. how much farther can stocks fall and what are wall street analysts missing? i'm asking liz ann saunders next. the day you get your clearchoice dental implants makes every day... a "let's dig in" day... mm. ...a "chow down" day... a "take a big bite" day... a "perfectly delicious" day... - mm. [ chuckles ] - ...a "love my new teeth" day. because your clearchoice day is the day everything is back on the menu. a clearchoice day changes every day. schedule a free consultation. ♪ i got into debt in college and, no matter how much i paid, it followed me everywhere. so i consolidated it into a low-rate personal loan from sofi. get a personal loan with no fees, low fixed rates, and borrow up to $100k. sofi. get your money right. another busy day? of course - you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated se

ed: there is always some artificial trading when it comes to a merger with a spac company. of investors buy in, institutional investors. the market for electric motorcycles is unknown. matt miller is probably better qualified to speak about it. the price point is interesting also. is this an expensive product relative to a gas combustion motorcycle? again, there is always froth when a company goes public through this mechanism. guy: ed, thank you very much. joining us on what is happening with tesla. keep an eye on livewire as well. coming up, take you up to birmingham. anthony browne joining us for the latest on the conservative party conference. alix: one hour into the u.s. trading session, the s&p now up a full percentage point. clearly we are oversold. ism coming in weaker than expected. katie greifeld is tracking the move. >> the s&p 500 up 2%. interestingly you have the nasdaq one-handed underperforming today. that is due to tesla taking a bit of a bat from the opening bell. crude is up 5.5% as opec-plus considers perhaps an output cup and a big rally in the bond mark

in the two to $3 billion range, stable business software company, this was a failed spac we took offck exchange and will build in private markets the next three to five years. those kinds of deals are being done. the larger transactions are like our investment which was a $10 billion deal a few years ago, the capital markets just aren't there for that kind of deal. credit markets aren't ready. there is not enough equity to collect for that kind of transaction. but these smaller midsized deals which you can build throughout acquisitions on organic investments are still going to happen. it's hard to say when the market will really come back, but i think inflation and interest rates need to stabilize, and buyers and sellers need to find each other in a better way than today. francine: what does tighter financing markets mean for private equity, and some of your funds, if you see liquidity in public markets trying up doesn't make it worse for private? christian: it does because when we are making an investment typically we are having 40% of the investment in equity, and 60% being done wi

. >>> the spac attack, i'll give you my take and all your calls, rapid fire in tonight's edition of theround is stay with cramer. go. go lights. go big city lights. go spotlights. go stadium lights. emerson software helps clean energy become reliable electricity. go “good night.” go boldly. emerson. >>> out with the old bio haven, in we in the bio haven the drug company agreed to do something bold selling the cprg franchise, including the great migraine treatment known as nurtc to pfizer for 1 1.6 billion dollars. the deal closed yesterday giving shareholders $148.50 per share in cash. the business that got everything else in the pipeline these are early stage prod duct candidates meaning it has more speculative but also got a boat load of cash they can use to fund these programs. i have tremendous faith in management they made the shareholder as fortune and i heavily rely on this drug and i always say and tell you this is the one that they sold to pfizer. we have to ask, could this be a new bio haven be worth buying? let's take a closer look with vlad the chairman and ceo of the ne new

see consolidations, a lot less dealmaking, and fewer exits in the form of m&a's and ipo's and even spacst of investors and their lp's were counted on to deliver those returns. something sonali: sonali: we were talking about during our crypto show was the idea of traditional finance versus de-fi, and how much does traditional finance still need to move. when you are still seeing crypto , the market value has gone down for these two cats but money being raised that way, through daos clearly created by ageneration looking to invest money differently. so how important is it for crypto currency, crypto markets, blockchain to be a new part of the financial system, even within existing companies? meltem: here is what is really exciting. even though the cryptocurrency market cap may be down, what we see is the integration of crypto-currencies, digital assets, and blockchain technology into the financial system is continuing at a really rapid pace. we see firms like apollo, kkr, fidelity just to name some that are not only offering ways to offer crypto, they are actually looking at innovative way

the conservative youtube equivalent and that went public by a spac at $2 billion valuation.some would say probably not worth $1 billion at this point. he's worth $2 billion and apparently he's worth $2 billion and i would say that his brand value in this is probably worth more than any money he puts in. stu: all right, last one, why should acare? continental resources going private. >> san: interviewing chairman alexander ham on the program. susan: it all makes sense to me because the stock is surging and looking to take it private and 28 and mixing in this type of environment and closing by the end of this year and oil prices hit their highest since 2008 contraindication for cerumen removal right. might as well; right. own the whole thing and reap all the profits yourself. stu: bring back fracking please. frack till the cows come home. lauren: not like u.s. energy. stu: we'll see you later. promise. check those -- the big board please. you're going to like this. we're 612 points and that's better than 2%. dow winners show me the list, please. got a look at that. sales force

system is trading low -r than what people had hoped for certainly we've got some of the largest ipos of spacs certainly the first half of 2022. i want to get to the book, the book is called adrift: america in 100 charts. we picked out a couple of these but some of the ones that really struck me or worried me actually and made me kind of depressed, you said that stock ownership heavily favors the wealthy. what does that mean by it and how is that bad? >> stock ownership is a wonderful thing and i'm just the way you have is them favoring owners and we decided to go back to the reagan years and tax income and even the bail yachts we'd argue between -- bailout money ended up in the happened of top quintile households and ran out of stock prices that are your own stocks but it's also keeping prices i would argue artificially high meaning that younger generations have seen their wealth with percentage of gdp and going for amazon. i think we should let the gail force winds of destruction flow and not artificially prop up the economy. liz: we want to end with this one, it's the first time in u.s. his

byd continues to lead the ev market with 200,000 vehicles sold last month >>> shareholders of the spac looking to take former presiden trump's social media platform public that vote will decide whether to push the deadline for digital media to september of next year. a similar vote last month failed to get 65% investor support to finalize the deal. dom. >> silvana henao, thank you. >>> investors waking up with whiplash following the relief rally following three straight days of losses still the averages posting the first positive week in the past four it is a busy week ahead with two reports on inflation, consumer prices and production prices we may hear more about the rising interest rates and the dollar on corporate earnings results from pepsi and delta and citigroup and wells fargo. the kick noveoff to earnings sen let's talk about this with kamal bhatia kamal, the big question right now is markets have seemingly tried to price in all of the negativity right now it doesn't seem to be stopping what will stop it? is it cpi or ppi or corporate earnings that come in, maybe, better than

dwac is the spac that donald trump's truth social is supposed to reverse merge with and that's taking a hit of 2.7%. scott, do you think that's because maybe elon buying twitter, he now knows he's stuck with it and better dive in and be bigger and better. >> the move to buy twitter because the thought is that he was going to, you know, moderate some of the perceived restrictions on users and content on the platform now so if more people can go on twitter and post more things, maybe they go less and less to other alternatives like the one you referenced. liz: mark, do you get the sense that elon musk, when he first put out his offer for this deal was very knee jerk? you know, that's what i get the sense of and he didn't realize when you do sign something that says i relinquish my opportunity to do due diligence. for those that don't know what it means before you buy a company and you're serious, you're allowed to go through the books and find anything that doesn't pass the smell test and he sign that had away and he's with the delaware chancery court that holds up the rule of corporate

this time it will just be the next generation of spacs. for right now, prudent, patient, and hedging. erik: this is more a matter of curiosity for me than anything. when you and i talked in december 2020, i remember vividly you saying, there is a really good chance the correction is just around the corner. it did turn out to be just around the corner. ulrike mentioned the importance of hedging. you run a series of etf's, for the most part fully invested. i would like to know, and i think people here would like to know, if you are running a different kind of vehicle, would you be managing it differently, investing differently? would you be hedging, allocating more to cash, buying protections in the options market? cathie: you are asking about the wrapper. we do run other accounts like that, but we are clear about what we do and what we do not do. we are not an asset allocator. we are focused exclusively on disruptive innovation, transformative innovation, and i think we are fulfilling an unbeaten need out there. we are doing the research an

certainly had a leading role >> oh, they were at the forefront of the whole spac underwriting they wereered this deal as kind of a back doorway for ipo that's been lucrative, but as that has slumped, i think in their q2 earnings, they saw 96% drop in capital markets during the quarter year over year so all of that has led to tremendous losses in their investment bank. a lot of people are looking at this and saying, there's a big profitability issue. balance sheet, while interconnected, a bit more of a question mark. obviously, there's been some impact from just the volatility we've seen in rates on the makeup of their balance sheet that we just don't know what that looks like at this point in time >> yeah. as we see, no longer at the bottom of the screen, shares are no longer sliding. they've come back during the session and now in positive territory. leslie, thank you. >> it's all that context you two gave it. >> there you go. >>> as we head to break, let's give you a road map for the rest of the hour. tesla shares are under pressure. they are sliding after reporting third quarter deli

the spac planning to take former president's donald trump social media public truth social has been placede google app store after it agreed to follow content guidelines it's been available in apple app store since february digital acquisition up 10% go. go emerson software. go science people. go breakthrough meds and safe science. go space age welds for super silent cars. go big. or go home. from software that delivers new cures at warp speed, to technology that makes clean energy reliable, emerson innovation helps make the world healthier, safer, smarter and more sustainable. go boldly. emerson. - [narrator] if your business kept on employees through the pandemic, go boldly. getrefunds.com can qualify you for a payroll tax refund of up to $26,000 per employee, even if you got ppp. and all it takes is eight minutes to find out. then we'll work with you to fill out your forms and submit the application. that easy. getrefunds.com has helped businesses like yours claim over $1 billion in payroll tax refunds. but it's only available for a limited time. go to getrefunds.com powered by innovati

if you compare it to other conservative social media sites, for instance, rumble, went public by a spacn, rumble, youtube equivalent has 76 million monthly active users. david: wow. reporter: there is a big significant gam here. david: is there a bot issue, a bot issue elon had problem with twitter on? reporter: parler has a small user base because there isn't a big of a bot issue. compared to less than 50 million downloads. twitter has currently 200 million daily active users on their platform. elon musk trying to close that deal. i find it interesting at the end of this year we could have elon musk owning twitter, kanye west, ye, could own parler. they have known each other, kanye and elon could there be a deal. one social media headline to truth social. part of it really took off after twitter kicked donald trump off the platform. truth social right now says they have two million monthly active users. two million more than parler letters than a million but way less than rumble which has 76 million. david: there may be all kinds of deals working out. this may be part of a bigger plan

. >>> we know most recent spacs have been less than stellar, but an exception today we have an imperfect it's our stealth mover of the day. it is call the perfect corporation. and it makes apps that allow consumers to virtually try on beauty products. the stock was having a good debut after merging with providence acquisition corporation but gave up all the gains throughout the session and is slightly lower. it seems like everything that everyone was talking about this weekend ontwitter was twitter. elon musk asking if he should bring back vine which twitter bought in 2012 before shutting it down in 2016. musk ball and adviser jason tweeting a poll to see how much users might pay to be verified in the platform. and musk has dissolved the nine person board, leaving him in charge of twitter. joining us is ali, who left the company a few years ago. i don't know where to begin. there's news on this developing story at all times with a new tweet from musk. what do you make so far of his takeover >> well, it's kind of a fascinating story. you have one of the most prominent communication platfo

that thing is going away in some fashion, the spac is in trouble. there are vendors mad. the typical trump business. and so i think he'll be happy to be back on twitter. he'll band on it in a new york minute and back on twitter scream ago way as he likes to do. the thing, is let me be clear. it may not work. people may be tired of this. right? just like the apprentice was popular. i watched that every season and then got tiresome. more trump is not necessarily good for the republican party. it sort of, you get tired of him and weary. i think a lot more people might -- that might happen if he gets more of a voice. >> i would dare say more trump is not good for the republican party. but what do i know? kara swisher, editor at large of new york magazine and host of the pivot podcast. thank you for your time tonight. >> thank you. >>> up next, we have breaking news. the daily beast roert who broke the story about herschel walker allegedly paying for a woman to have an abortion is out with a new interview with that woman tonight. she says she is also one of the mothers of hers

era they deserve to be slaughtered they got what they should have i've had a huge number of garbage spacs on low quality ipos for the most part better than the year 2000 predecessors. more than 300 stocks with this earlier advantage if you keep track that's 90% of the crop we're seeing new declines but mercifully, they're not going out of business. for the great recession, just forget it. it's not that. so many large institutions went under and respectable commentators were calling for the banking system if noble prize winning fed chairman ben bhadn't drawn a lin in the sand, i don't think the system would collapse. there is nothing like that now like my ma always said, comparisons are odious what does it matter if we had a great recession? we have a different narrative but same result. we have a lot of inflation that has to be wiped out. unfor unfortunately, the fed has one tool that's raising interest rates. it doesn't immediately help, either, though, which is the problem problem here right now we've seen a dramatic decline in the savings rate down substantially from the pandemic highs

reports could go for $30 billion, that is doing worse than broader ipo market, autonomous driving spacs. p embark technology do you 76%. au aurora, 77%. perhaps not surprising that this company mobile eye has had to market down again. like you said, jon, kind of the share structure will keep intel in control for perhaps a later date if the market rebounds. >>> adding conductor semis to its list find out why that's coming up next. "thcckisacinwo eche" bk t. if you have this... and you get this... you could end up with this... unexpected out-of-pocket costs. so if you're on medicare, or soon to be, consider this. an aarp medicare supplement insurance plan from unitedhealthcare. medicare alone doesn't pay for everything. and what it doesn't pay for, like deductibles and copays, could add up to thousands of dollars. medicare supplement plans help by paying some of what medicare doesn't... and making your out-of-pocket costs a lot more predictable. call unitedhealthcare now and ask for your free decision guide. medicare supplement plans also let you see any doctor. any specialist. anywhere i

jobi was a spac. it >> cathie wood liked that. >> she may have liked that these are quiet too were we have a rooftop deck i go up there and read with the air traffic, so loud. it will be nice when they come in their quiet >> i say coca-cola with the jack coming up 3.2% pepsico reports tomorrow i look at these defensive stocks people should start focusing on this elf. this is a $2 million stock you say forget about it. it is up nicely. it's cosmetics people use cosmetics when things go bad remember the lipstick indicator? do you remember that >> i do. and look your selfie best. >> i came one that >> i think on jobi, did we mention delta has a deal to invest we didn't tell people the news >> five cities if you're going to fly out of new york, make your way to the airport. >> avoid the traffic >> uber and lyft share some of your work with us. they are both down we can put them up sharply uber down 9.5% right now the reason does appear to be headlines around the biden administration's gig worker classific

. >> long way from last spring and the spac craze that's for ure coming up on "tech check," a lot moreresults moving in opposite directions a big interview with intel's pat gelsinger. that stock getting a boost, as we have taken out yesterday's intraday high. just about 20 points shy on the ayitusr the highs on the week. st wh through the pandemic, getrefunds.com can qualify you for a payroll tax refund of up to $26,000 per employee, even if you got ppp. and all it takes is eight minutes to find out. then we'll work with you to fill out your forms and submit the application. that easy. getrefunds.com has helped businesses like yours claim over $1 billion in payroll tax refunds. but it's only available for a limited time. go to getrefunds.com powered by innovation refunds. . >>> as we head to break, pinterest is popping after beating analyst estimates across the board including on monthly user numbers that's tracking for double digit weekly gains double digit gains today still down roughly 30% so far this year. pinterest ceo bill ready will be jim cramer's guest on "mad money" at 6:00 p

deleveraging of the kind that sometimes occurs in an environment of tighter monetary policy >> got 30-year spacbout 5 today, jim bank of japan has them all >> yeah, okay, see, these are all very small, somewhat manipulated markets. if i were one of these private equity firms, i probably would have enough capital to buy all the dislocations david, you know, these private equity firms, busy trying to find something to buy. >> alternative asset managers is what you might prefer to go with private equity would just involve -- >> i like that >> that's what they are. black blackstone is up to $940 billion in assets and they just did this deal with this insurer today they're not buying the insurer but taking the aum from the insurer. >> do you remember when hyman wealth was bigger than u.s. steel? i got to tell you, jonathan gray is bigger than the king, okay? he's bigger than the king. yeah all right? you got king charles >> i know who you're talking about. >> i mean, honestly, we've got these companies -- >> he may well be. that's true. >> they have so much money that they're bigger than britain. >>

now, i mean, that farley building, is it going to go to tom farley's spac?hen you get farley in there jim farley from ford >> oh, this was the farley post office yeah it is. >> i'm wrong >> they're filling it up >> look, they have a lot of offices in new york. i'm going to say two things. i understand the death spiral because you have too much money for death spiral, but reels is doing much better than people think. >> you've been saying that for months >> i'm going to be vindicated by the facts. >> okay. >> but i think the problem is that people do not post as much on facebook or instagram how much have you posted today >> i don't use facebook or instagram. >> i rest my case. >> i'm the wrong person to talk to >> okay. >> i don't know if you noticed >> who's the right person? >> my age -- what? >> who's the right person? >> my 6-year-old daughter does -- is tiktok. all her friends are tiktok >> well, mark zuckerberg, who's watching right now -- >> my son does snapchat. >> mark zuckerberg is watching this very minute >> they use instagram, but so does my wif

overstimulated and printed too much money and the balance sheet is way too big and nfts and memes and spacsdid not do anything then. are you pointing fed for being asleep at the switch and now they've got to do this >> i think the fed was late to get started. they got caught up in the transitory versus permanent argument of inflation. they, themselves, recognized they are on the wrong side of that discussion. it is also very clear that for a variety of reasons, the economy remained or the fiscal policy remain ed stim lative as we trid to understand the 100-year event. you laid it out. supply chain issues and reopening from the pandemic. monetary policy that got stuck in inflation transitory and clearly trying to catch up i think they admitted they started later than they should have in hindsight. >> roger, i want to get your thoughts on ben bernancke's nobel prize win this morning we were debating earlier what h did in 2008 and what will be the history of that and, of course, there is a raging debate of whether we are now in a roach motel as a result of it. some people think we should have

spacs and nfts, meme stocks, they said no, we're still regular inflation is 1.8%, we want to get to 2%ate and many people thought that the forces bringing down inflation adjusted interest rates and bringing down real interest rates were secular demographics, low productivity, inequality, there are like a thousand papers on this. i think that was way overblown if the real interest rates had stayed low, in other words the fed could afford to maintain 2% inflation at very low interest rates, you could justify those asset prices but i've always been skeptical, i've always thought this would come to an end i don't know about a crashing end, but not a pleasant one. and i think we're starting it. >> you are not a market timer or even a stock market analyst, but what you're saying, i can't see how long term that would be positive for equity prices do you think that we'll continue to bewardedrewarded, are we in a period where maybe reversion to the mean >> well, there has been a lot of the reversion to the mean already. you are more up on exactly i think all the equity indices down 21% at one p

investment banking have not been as active a particular strength for them, there hasn't been as much spacto nii, net interest income so shares have come back a little bit now down 1.6%. just in terms of jpmorgan, dug through that release a little bit more, guys there was the credit cost that you mentioned of 1.5 billion that included the 808 million net reserve build. jamie diamond commenting on the release providing some additional macro comments. not too dissimilar from what we've heard from him before. he notes there are significant head winds immediately in front of us. high inflation leading to higher global increases not too surprising that they would add an additional 808 million to its net reserve build and there was also something notable in this release, $959 million net investment securities charge. that led to 24 crept decrease in earnings per share during the quarter. so some interesting dynamics not every bank is alike obviously but the macro clearly playing a factor in third quarter results, guys. >> just go 30,000 feet for us if we were to combine morgan stanley, jpmorgan,