. >>> up next, the spac king only mentioning spac three times in his annual letter that story and moreltdown in growth stocks oafte the break. i'm so glad we did this. i'm so glad we did this. life is for living. let's partner for all of it. i'm so glad we did this. edward jones ♪♪ choosing miracle-ear was a great decision. like when i decided to host family movie nights. miracle-ear made it easy. i just booked an appointment and a certified hearing care professional evaluated my hearing loss and helped me find the right device calibrated to my unique hearing needs. now i enjoy every moment. the quiet ones and the loud ones. make a sound decision. call 1-800 miracle now, and book your free hearing evaluation. ready to shine from the inside out? say “yes” to nature's bounty advanced gummies and jelly beans. the number one brand for hair, skin and nails. with two times more biotin to bring out more of your inner beauty. get more with nature's bounty. >>> welcome back social capital trying to explain the meltdown in his portfolio. with deirdre bosa, "tech check." >> efficiency has been th

keep inmind, symbotic came public via a spac merger in june of last year, one of the last big spac dealsh and while the stock initially popped to $20 last summer, it couldn't hold on to those gains. makes sense. this is a textbook on profitable growth stock and that whole court, we know, it was dispiesed most of last year, especially with a spac connection only bombed at 8.75 per share last november but that's when the growth turned around and as we feel more confident and nearing the end of the rate hike cycle for the fed, it is a little premature and since it closed 3, 2 dollars and change at the high earlier this week and pulled to just under $27 this stock is incredibly volatile at these levels, i don't want to take the chance. if symbotic goes higher from here, i would love to circle back but it feels risky. and i am nervous about the quarter monday night, and not any particular reason but the expectations are high. and it is by far the largest customer, walmart and walmart as an investor might offer some protection, but let's -- no, too risky. you want an alternative that is not as

charles: folks, coming up another black eye for spacs as "buzzfeed" plummets. i didn't tell you so. first if recession is imminent how bad will it be? we have to ask dana peterson, she has been on this a long time. red flags, jeff snider sniffed a few out nobody is talking about next. ♪. the chase ink business premier card is made for people like sam who make...? ...everyday products... ...designed smarter. like a smart coffee grinder - that orders fresh beans for you. oh, genius! for more breakthroughs like that... ...i need a breakthrough card... like ours! with 2.5% cash back on purchases of $5,000 or more... plus unlimited 2% cash back on all other purchases! and with greater spending potential, sam can keep making smart ideas... ...a brilliant reality! the ink business premier card from chase for business. make more of what's yours. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edwa

400 ipos launched many disastrous, road kill, many collapsed like wirby parker and others then the spacsbomination, trading below two bucks, a shameful, disgusting, vicious loss and tends to hurt the least prepared or most easily b bamboozled therl market anyway. now tech in shambles they killed their favorite bank. didn't pivot from focus on revenue growth to actual earnings, kicked to the curb decapitation of biotech stocks, can't talk about them, most too small to mention, with rare exceptions like prometheus bioscience the losses didn't kill the bull. the return you're getting with doing nothing with your money has exploded higher. i can get 4.15% interest rate if i open an apple savings account with my apple card who needs it when you can get the good return from cash? isn't that bearish yet it hasn't stopped the bull either matador matador bears will come out and get stamped by the bulls as usual but the experts tell you to go with the bear. the monster decline we've been waiting for and -- short risks higher than low, it's a bad sign like it has been since october why does the neg

tens of millions, public square on track to go public in third quarter through spac deal with columbia s4 filed, in front of sec comments back-and-forth we are anticipating '23 i think more of a cultural movm with an transaction we see we want to facilitate, a renaissance rebirth of patriotism in this country, this is helping facilitate that, i mean, we see every day that that have we've ceded cultural consumers man confess expatriation of culture we can get angry campaigner what hasn't happened until now what is a solution, if you are fed up with woke corporations? michael in public square the first company that is providing that solution to people, to a give them transparency, into companies that actually share values of over half our country. maria: wow is this resonateing with people do you think. >> more than i ever could have dreamed we were first mover in the space pioneering a new economy it was hypothesis consumers could be as hungry as anticipated it has exseededings we have telling a story the story is resonateing with millions americans that are fired of funding companies,

going to turn out to be good it did jump to $34 because of the lunacy of how spac's traded.pt it was mentioned directly by jensen huang on the quarter for nvidia, why? because you take their images, then you give adobe some copy, and you make it so that adobe is going to be your cash register, and then you just say, look, i want a getty image of -- and you figure out what you're selling -- and bingo coca-cola talked about this. this is being used right now for advertising, and you need the images of getty to make the advertising work i don't know about this takeover guy. there are good holders of getty, but i like this company very much, and i think people have to realize it's one of the few spacs that i would ever get behind because it will be profitable next year could be extremely profitable >> well, as you point out, the getty family, coke industries, n newb newberger berman, a very large holder as well in terms of what they did with the spac that ended up taking this thing public as for trillium, i have nothing on them and this guy although he says that he has decades o

maria: all right, we will be watching public square and, of course, the spac taking you public.ns to you. when we come back jeff flock is live in chicago this morning looking at businesses thinking ahead of the windy city's mayoral election, it's election day in chicago. ♪ ♪ ♪ ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. ne. >>> maria: a welcome back, crime and economy expected to be the two key issues in chicago's may oral runoff two candidates on ballot election day fox business jeff flock joins us live in chicago right now, he is outside of mcdonald's headquarters with the very latest. >> i forgotten how much up if weather was in chicago good morning to you from mcdonald's corporate headquarters keeping eye here today because it is

that was not a great spac deal i think buzzfeed is trading in the 70 cents range let's just say, weworknot far -- i think wework may be a little less. 72 cents and then wheels up. >> did you really? at the same time >> yeah, we said it at the same time wework, wheels up. you think of a lot of them didn't go too well remember the days on fridays we'd do all the spac numbers >> i find that when you look at spacs, i always come back to getty, which at one point -- getty, which, by the way, is a very, very good company, i'm not slamming them, because jensen huang talks about them as a public, but came public at $10, then went to $34 and now at $5 >> oh, they brought it back, thank you, guys, just to have a little memory there when we used to talk about it >> the spacs just wiped out another generation of investors. >> they're still moving forward. when was the last time we saw an ipo of any note? >> there were three last week. none of them were larger than like $30 million and they were all chinese stocks >> yeah. >> the information had the story today about seat geek starting to look at co

. >> do you miss the days of the spacs, i see it on your face do you miss it at all? good >> we have focussed on companies going public but with spacs, that was a helpful factor in terms of bribrif i of bringing more companies to the market. >> will it be in a time capsule with nfts? >> i think we have to recognize that spacs were -- became very active because of the fact we had a free money environment and in an environment where money costs money, which is the environment we're in, and will be in now for probably a long period of time, i think it is a very different -- >> do you think those will come back >> we had spacs come into the market since 2010. they have always been a small part of the market they became a big part when the interest rate environment was so receptive to them. >> do you think they have been tainted now? >> we're still seeing spacs come out into the market and they still find combinations and i think there is -- that's a cottage industry that exists for a long time. >> adena, let's talk about ai. nasdaq has obviously is home to a lot of techno

it's under -- >> it was a spac. >> it's a spac that is looking to merge with -- it is under pressuretoday, and i should note it's a very small market cap. >> it's very small and had lost a lot of value. >> it is down in the midst of all of this. >> people are now looking at it. he sequestered himself inside that bubble, which does not have a lot of viewers, does not have a lot of people on it this is a reason for a lot more americans to look at truth social from that perspective, it would make sense >> eamon, at what point does this -- and i ask this because the markets were down today, the markets were down before this arraignment process started. at what point does this become a situation where wall street and investors take a closer look >> morgan, i don't think it does, particularly when you're not in a general election cycle where the markets might be looking at two candidates many a general and saying, well, one is better for tax policy or economic growth than the other, and if that candidate takes a hit, then you know, maybe that might have some implications for the market thi

of the month she will take over as the ceo o hasbro the spinoff of the electric bike unit with the spac merger. stock prices are moving higher. >>> when we come back on "worldwide exchange," another big money mover and shares of one luxury giant taking off. >>> and we dive into whether crude oil has more room to run. >>> and later, conversation with dhl america ceo mike parra an. a very busy hour ahead when "worldwide exchange" returns mak . now ports can know where every piece of cargo is. and where it's going. (dock worker) right on time. (vo) robots can predict breakdowns and order their own replacement parts. (foreman) nice work. (vo) and retailers can get ahead of the fashion trend of the day with a new line tomorrow. with a verizon private 5g network, you can get more agility and security. giving you more control of your business. we call this enterprise intelligence. from the network america relies on. power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools, and paper trading to help sharpen your skills, you can stay

digital acquisition, the spac due to trait -- do take truth social public is sliding down another 5%. rumbled down 6.3%. very short-lived feel good the conservative social media names when the new cycle around trump started. caroline: we will dig into the social media names in a moment. let's turn towards donald trump's indictment. the former president saying it is all political. district attorney alvin bragg says trump engaged in a catch and kill steam. >> that is a scheme to buy and suppress negative information to help mr. trump's chance of winning the election. >> this fake case was brought only to interfere with the upcoming 2024 election and it should be dropped immediately. caroline: with us to wrap it all up as well as some of those tech angles, bloomberg's kriti gupta. extraordinary day. talk to us a little bit about what you are seeing after the impact. it was historical in many ways. kriti: it was historical in many ways. the potential first criminal conviction to any president in american history. it is a massive deal. is it going to disqualify him from president? the answ

tomorrow around 5:00 p.m., spac x will test its rosters from it facility in south texas. there is a 2 1/2 hour window to launch. if that doesn't work ou they could still launch over th next couple of days. it will orbit the earth and land in the ocean near hawaii. >>> all parks around the countr aren't having j >>> it has been 17 years since we have seen it, playoff atmosphere and zach down. the game was still lit after a three-point thriller over the defending nba champs. >> kings fans were hitting the grit and why not? this was the first playoff game in sacrament since 2006. he missed this free throw and gary had a second offensive rebound. steph curry, that put the warriors up by 10 the kings had no quick. this is the final seconds in the third. this gave sacramento the lead. the kings ended the quarter on 15-4 run. the kings were in transition. he knocked it down for three. it was a big night for him. he scored 32 points of the bench. there was four minutes to go. clay thompson driving, found curry in the corner. how did he make that? curry scored 13 of his 40 point i

they're not buying $4 billion market cap companies or spacs. that's a process that will frustrate people that are solely focused on valuation >> i think sundar pichai would say i'm here, guys you're forgetting about me because i am an ai play as well. jenny? and i have a lower valuation >> right, but then you get into where the competition comes from what josh said that is really important, you said it has 30 times earnings, it's a safer play -- >> it's lower than that. >> okay, but, whatever the, the point is microsoft has earnings. i think with alphabet then where you get into it is, okay, but their market share is so huge, right? how can they sustain that market share? and whether it ends up being reality orbit, the perception is that with alphabet there's huge risk from ai cordrcorroding. >> jenny, it's not that simple the google cloud actually is probably going to outgrow the microsoft cloud because the microsoft cloud is already there. google cloud is not there. in certificate alone you can say there's down side risk if bing enabled by op

i mean, these companies came public, carl, and the spacs, they're funny.y club. >> yeah. >> ge is down 30 cents aren't you going to come after me >> not yet by the way, speaking of -- i know this is apropos of absolutely nothing, but you're talking about spac, and we talk a lot about commercial real estate have you taken a look at wework? i know this is out of nowhere. do we have a chart >> it's way too early there. >> it's up it's 54 cents. there it is. >> wow >> 54 cents. >> that's the difference between -- >> that's recent go back a little bit longer, guys >> they screwed you. >> they managed to come public >> i'm sorry, they -- i don't know what they did, but they brought it public. >> adam newman's stake was $700 million i think it's about $35 million now. >> here's a quiz for you what did jamie dimon in the series bring adam newman >> i haven't gotten to that. >> the 1942 tequila. at 10:30, when i went to see adam, he brings it out and goes, it's time. i said, what "it's time for tequila." i said, it's 10:30 then i walked out, and i said, every singl

the spac, the ipo went down about 90% since then and kind of an end of an era for buzzfeed news >> al a challenge would start to get a squeeze here i'm sure we'll learn that more is the time. as for the week we have a lot of woodshop regarding earnings. tomorrow we'll get p&g which will give us a better sense where consumer stands. >> and also where inflation stands some of these household products have had so much pricing power and demand hasn't fallen off too much so what is that breaking point for consumers paying higher prices for everything they need in their homes and in their pantries that's a big question for p&g and package food companies coming out later in the coming weeks. coca-cola will be next week. it will be really interesting to see. but for now, stocks are lower, carl, but they've rebounded from the lows of the morning and it's nothing extreme given some of the head winds out there around recession and higher rates. >> even with the vix still below 17 this morning, pretty remarkable let's get to the judge and "the half." >>> all right, carl, thanks very much welcome

there's a lot of organizations out there that ipo'd, the spacs that are out there that need a lot more they need a lot more capital to run today than they actually create. stuart: all right. >> so this could promote a bunch of challenges. stuart: real fast, david, should i sell my microsoft? if we've got this dreadful situation coming, should i get out while the going's good? >> the a.i. revolution has a lot of steam left in it. i like microsoft, especially better than alphabet right now. i think that they're optioned well because they can -- positioned well because they can integrate and it's not just ad revenue on searches. i think that microsoft's flush with cash, it's a home team here in the seattle area, i'm voting that they go up. i'm hoping that everything continues to work out. stuart: i'll stay in. thanks very much, indeed. david, thank you very much, sir. see you again soon. lauren's back with us looking at the maneuvers. chipotle is up $255 a share. lauren: so despite several rounds of price increases, all customers management says, including the low income customer that pul

her emails, the comey letter the laptop in the ensuing years since 2016, since that rupture in the spaccontinuum, it is become clear, when the general voting public, medium, persuadable, normally voters pay attentio to donald trump. they don't like him. they don't like what they see. this has been demonstrated ove and over again in election after election it was true in 2018 when the election became a midter referendum on his presidency and republicans lost 40 seat in the house it was true in 2021 trum became the first incumbent president to lose reelection since george h. w. bush in 1992, losing the popular vote by 7 million and underperformin other republicans up and dow the ballot to had actually a pretty good night. it was certainly true in the most recent 2022 midterms wo against all odds, the democrat had a surprisingly good night. and that is in large par because donald trump had his fingerprints all over that election endorsing a bunch of unlikable maga weirdos or as mitch mcconnell euphemisticall called it, quote, candidat quality. >> our ability to contro primary outcome was q

it debuted at the end of 20 2021 via a spac.s stock has gone up in plames, down 91% -- flames, down 9 is % -- 91%. >> -- the tower was icing on the cake. [applause] [cheers and applause] [laughter] liz: those are the cheers, perhaps a bit premature, of rocket scientistses at the company's headquarters in hawthorne, california, as spacex's starship rocket, the largest ever built, took flight. two minuteses later, and it was a very speck act lahr and successful takeoff, okay? the liftoff, perfect. right? again, about 200 seconds later, spacex's starship blew up high above the launch site this texas. the rocket did lift off on schedule, successfully got up into the important parts of the orbit when there was the most stress on the rocket, but then it exploded in a cloud of flaming debris. space, and's founding, elon musk, did tweet that the company learn a lot ahead of the next test launch which actually could come in just next couple of months. no specific reason as to why the rocket ship exploded, but the actual spacecraft that w

. >> you, in large part, hav given us to safety, and spac to say, you can be different you can act differentn who i am, i appreciate yo very much. >> thank you very much ♪ ♪ ♪ >> being asian is a liabilit when it comes to physica safety >> the stereotype that asian are quiet. >> how many of you dated white guys ♪ ♪ [ cat purrs ] [ phone vibrates ] introducing astepro allergy. steroid-free allergy relief that starts working in 30 minutes, while other allergy sprays take hours. now with astepro fast allergy relief, [ spray, spray ] you can astepro and go. staaaaacccceeeyyy! i'm the sizzle in this promposal. and tonight, sparks are gonna fly. kyle? and while romeo over here is trying to look cool, things are about to heat up. uh-oh. darn it, kyle! and if you don't have the right home insurance coverage, you could end up paying for this yourself. sorry mr. sanchez! get allstate, and be better protected from mayhem, like me. that's a hard no. (vo) businesses nationwide are switching to verizon business internet. (woman) it's a perfect fit for my small business. (vo) verizon has business internet

getty images went public via spac merger, reverse merger, last july at $10 a share.right now, the rearview mirror picture not as pretty. trillion yum capital said the -- trillion -- trillion yam capital is also urging getty to sign a nondisclosure agreement as soon as possible so they can begin due diligence. trilliing am also said it reserves the right to withdraw its nonbinding proposal at anytime without notice. let's look at c3ai, it is getting hit by a downgrade, down 11.6% in the wake of that. shareses standing at $17.73 after wolf research cut the software provider from if pure perform to underperform and set it price target at 14 per share. currently, as i said, the stock's around $17.75 a share. important to note the stock is still up 60% year to date. it's been a real momentum play with all the a.i. and chatgpt discussion. but wolf research said the company's transition to the a consumption model is going to be a drag on revenue growth. first solar covered in clouds at this hour. it is down about 3% at the moment after citigroup downgraded the sock from neu

. >> by the way, jim, we should mention tom rogers, of course, up there as well that is a spac they'reng there engine gaming and media. we'll trade under their new name game square. a little shout-out to our friend tom rogers. >> part of cnbc royalty. >> worked for "new york magazine." long and store read history working with him. >> that's right. primedia once owned that, too. >> i was not fired. >> you were not? >> i was. >> you were. >> it was done by the guy, adam moss who called me hey -- i said just say fired he goes no, terminated i feel so much better. i was terminated. >> jim, you mentioned sam's club brings us to albertson's as well with a quarter this morning, stocks down 2% and the notion yesterday raised by goldman that the theory that the consumer would weaken in their view was made reality with costco's update last week. >> that costco update was so important. stock was up yesterday, david. but costco missed -- they did great on everything having to do with why i love to go to costco. the chickens -- the beef when you go. >> when i go, which i never go. >> i'm going to s

it is not a spac that you expect to see this is really the state of the nasdaq right now is that what you should expect if you decide to go into the big cap tech stocks? 80% loss and then a triple >> it is a real business, joe. that's what i can say. >> a real business the stock has nothing to do with the real business half the time. crazy. brad, thanks i don't envy what you have to do for a living you do it well thank you. >> thanks. >>> coming up, we will talk about what is next for first republic bank. that stock down 60% this week. this week alone, folks that story is next we have a huge lineup still to come senator ted cruz and american airlines ceo is with us. we have cfo of eli lilly and activision-blizzard ceo bobby kotick and what it means for the appeal and future of the company. and then house speaker kevin mccarthy in the debt ceiling debate and fight you are watching it all on "squawk box" on cnbc >> announcer: this cnbc program is sponsored by baird. visit bairddifference.com. it's official, america. xfinity mobile is the fastest mobile service. and gives you unmatched s

they won a pulitzer prize in 2020 shares have fallen 90% since the spac in 2021 the market cap from $1.5 billion to $100 million. jumped at the right time >> decimal point 75 cents >> this is it. apparently, they embraced generative a.i buzzfeed will use open a.i >> to write all of the stories >> whatever. >> to generate click bait. >> yes >> i don't like that for friday, i don't like a lot of things. >>> coming up, i like it is friday we'll get you ready for next week's mega cap tech earnings. later this morning, we hear from p&g. they sell everything you can buy in every country in the world. it gives us a good idea of what is happening first on cnbc interview with ceo jon moeller. you are watching "squawk box" on cnbc >> announcer: this cnbc program is sponsored by baird. visit bairddifference.com. i know some consultants with great ideas. can they help us improve our digital experience? absolutely. they've invested over $2 billion in tech. that could really help us manage inventory. and save us a ton of dough. then let's take back our market share. checkmate, chess heads. girls, i sa

etoro tried to go public last year with the spac i'm not sure this puts this int the twitter app sg >where do you think this is going? do you know how much money is spent or the future of what this looks like you hear most of the headlines, i'll say mostly negative head lines. you did cut the staff. maybe the economics are different. i don't know what do you think? >> the problem is the economics is elon said during the interview this week is they are at a round cash flow break even. we don't know if that includes the interest payments. he took on took on the enormoust of debt. twitter was an albatross of a company. it was losing money when he bought it. the debt he put on was so much the reality is the net worth he can put more cash into it if he needs twitter is a break even and lose a little bit and make a little bit company. the question with elon musk is how long will he let twitter be that is he willing to spend that money to get to x.com? if you want to get to x.com, you have to add a bunch of engineers. >> dan, when we talked about the transaction and it was on the table, it w