the way zillow lists agent-backed listings on its website.ing potentially of a long, legal battle, john, back over to you. >> eamon javers having brought us the initial news about that lawsuit a few moments ago. guy, the rebound remains intact and the nasdaq up 3.4% and if it gets above 3.the%, you have to go back to april let's get to the judge. >>> we're about to see aing about reversal and are in the midst of that now. joining me for the hour, stephanie link, josh brown, pete najarian and sarat sattee. remember the dow hit a new intraday high. here's where we'll start josh brown, is this the beginning of a big tech bounceback

. >> zillow is another one and let me throw this one out really quick. >> zillow is unassailable and i understand it's not a cheap stock. $27 billion market cap on trailing sales of 5 billion or so over the last year. it will be a while before zillow ever sells at a price to sales multiple that value investors can get comfortable with the good news is nobody cares. that is not going to be the thing that determines whether or not zillow shareholders make money. it's always going to be growth and brand and network effects and things that simply do not show up on an income statement for years and years to come, and i think you have to have some of those in your portfolio to capture the upside of what the next decade will bring. >> all right care i, i want you to weigh in on that. do you agree with what he said >> i almost always agree with what josh says, but here's the clarification. >> good start. >> we track -- the stocks that sell at a multiple or 14 times sales and have 10 billion or higher market cap and the peak of that was in the middle of february there were $5.3 trillion in th

competition. >> it is this scramble for space. >> reporter: jeff tucker is a senior economist at zillow and says the record low interest rates mean even more in extremely expensive real estate markets. >> if they know they can lock that in for 30 years, it makes a huge difference on a sizable mortgage. >> reporter: for many people with white-collar jobs that didn't lose work, many were able to save money by staying home. for first-time homebuyers, that made a big difference toward that down payment. couple that with low interest rates, it was very tempting for people to buy. now the expectation is that the economy will improve and the low interest rates will start to creep up. >> it has really created the perfect storm for the housing market to erupt. >> reporter: alexander is a real estate adviser for compass and he saw interest wayne in san francisco during the pandemic but says it's coming back, especially for unique homes like this one, it is two cottages combined by a glass ceiling and has a lot of rare outdoor space. >>offer today, after just a few days. >> reporter: san francisco

. >> how about -- i know you work for zillow and i'll continue with that. they were fine with you working from hawaii. any concerns about the time difference? i know it's only two or three hour time difference. >> we're lucky to have open minded people at zillow group and we have a new distributed workforce. we're all kind of around the country right now and making time zones work. but i will be weigh up early to be logging in. >> especially if you have east coasters as well. then a six-hour difference. at 5:00 a.m. probably zooming in. i guess if your view is that of a beach you're good with that. >> yeah, with the sun coming up, yup can't beat that. >> was it a tough decision still, though, as wonderful as hawaii is the to leave the bay area, leave san francisco? >> for me not so much, just because i -- after -- since i've left i felt a part of me has still always been there. it's like my true home. and all of my close family is actually living there. so i'm actually the only one out here with my -- my immediate family, my child and my wife. so -- >> okay

we are seeing now a new lawsuit filed against zillow, the online real estate company rex now suing zillowe two entities of being a cartel effectively rex accusing them of joining a cartel with the national association of realtors saying zillow zwroind to conceal all non-mls real estate listings on sfwlil o's websites behind a tee fault tabatha they have a problem with on zbril o's display. they say rex's listings are losing significant traffic as a result that have and they allege that the national association of realtors is preserving sky-high real estate fees i talked to mike tim scott, the general counsel of rex yesterday about this, and he explained what he says the national association of realtors is doing wrong here take a listen. >> they brought the biggest real estate aggregator, the biggest portal site under the tent and it caused, from our perspective, what we're concerned about, it caused zillow to segregate these listings from companies like rex, which are operating independent of these old rules at more competitive prices and it put them off to sited of the platform in second

this restricted supply giving us bidding wars or as zillow's analysts say low inventory plus high demand equals intense competition. homes in 2020 spent an average of 16 days on the market. it was 12 in october. compare that to an average of 42 in 2019. >> it's the scramble for space. >> reporter: jeff tucker is senior economist at zillow. he points out that the record low interest rates mean more in extremely expensive real estate markets. >> they can lock that in for 30 years which makes such a huge difference. >> reporter: for many with white collar jobs who didn't lose work because of the pandemic, many were able to save money by staying home. for first time home buyers that made a big difference for the down payment. it was very tempting for a lot of people to buy. now expectation is the economy will improve with the vaccine roll out which means low interest rates will start to creep up. >> it's really created the perfect storm for this housing market to just erupt. >> reporter: alexander is a real estate adviser for compass. he saw interest wayne in san francisco during the pandemi

with a great realtor a good realtor sells a least one house a month check their sales history and zillow. americans. find homes in southern california especially we dig real estate and we forgot about the boat and all the other trouble the financing and everything else. and here we are right back at it frenzied up 51015 buyers for every house like none of that ever happened. to. the 800 video. i documented the real estate market on you tube i got almost 1500 you tube. and it gives people really good sense of what's happening. i mean jewel of this that today that house sold for 1.6. 1 point one i'm talking millions here. point 4. 5. and i don't know what to say they're. both going to employ. i don't know what the heck it is the dollhouse. pool in the front yard. slightly unfinished. firepit. why is stealing a trick to get me all the other planets is all stolen. what could have been so nice about those pillars that they had to steal this and i'm not sure. there's. 15 houses on this street. i think it was. at least 8 of them had loans way over a 1000000 but if you're sit non-o. 1.2 or 1.4 l

. >> caller: appreciate it i need your help on two stocks i hope you can do that the first one is zillown the second would be oracle. >> oracle is a very inexpensive stock with a good balance sheet. zillow happens to be on fire and that's one of the best conference calls it's come back down and i think it's a buy it a good strategy for buying homes. i think the rates can't go up a lot. i think you're okay. dianna in michigan, dianna >> caller: hi, cramer. >> hi, dianna. >> caller: my stock is pfizer and doing a great job with the vaccine? >> they are. i like the doctor very much. stock yields 4.5%. just doesn't have a lot of mom momentum is it an okay stock to own absolutely is it the stock i like in my portfolio like bristol myers it will do better than pfizer. let's go to thomas in pennsylvania >> caller: jim, how is it going? >> not bad how about you? >> caller: go birds. >> thank you. >> caller: i messed up, man. i made a bad decision. i didn't listen to my advisor and bought a stock you told me kno not to buy and i'm down 15% and need your help you got to help me with incy. >> wow,

but if you want to move the danville a typical home price on zillow is roughly 2 million dollars. so that's. a lot. the other spots that made it in the top 10. they're all in southern california. the next bay area location to make the list is oakley coming in at number 21. i. weather is nice out there in the east bay lawrence karnow. here to talk about the weather all around yeah. all around. you get to see a lot of sunshine and some that's a kind backed off just a little bit on the temperatures compared will be out of the weekend with your skies. >> actually cleared out all the way to the coastline. it will be cold front sliding on through help in the mix out some of that marine layer. and so here we are left the clear skies of this looking good throughout, although we'll see some gusty winds developing overnight tonight. more than just a moment but certainly a beautiful look at over san francisco across the bay. beautiful clear skies on this spring day temperatures. yeah. they took a bit of a hit. it was nice over the weekend. all of a sudden the sea breeze kicking in that dropp

. >> reporter: according to the real estate website zillow, the average home value in hudson went up 60% in the past ten years. during that time, the median household income for hudson residents stayed below $40,000 a year. and despite a relatively low unemployment rate, about 23% of hudson's population lives in poverty. since 1990, roughly 2,000 people have moved away. hudson's mayor, kam johnson, says that gentrification is driving the exodus from the city. >> we see a lot of transplants from new york city and from other big cities that are now coming here. and that's tough on the people that grew up here. you see a lot less of the people you went to school with because they're forced to move to the outskirts of the city. >> reporter: even in the midst of the pandemic and the resulting financial crisis, hudson home values rose by 10% since last year. meanwhile, longtime residents are finding it difficult to stay in the city without government assistance. >> it's become really hard for families to find affordable spaces outside of subsidized housing. >> reporter: claire cousin grew

if it sits there and settled, if you think about the teslas of the world or zillows, she's buying visionnaries. offthe ability to monitor that tom myself, so i'm going to buckle up. i'll let you know when i buy more. >> please do >> scotty, could i make a comment on that? >> yeah. >> when we have the first big move in rates, vix spiked quite a bit. i think that's a great example of markets desensitizing to a front-burner issue after it's a front burner issues long enough. i'm not saying if we had a derivative move in rates that the debt toll was rapid, we wouldn't see another scare, but my sense is markets climb walls of worry, this is a worry, inflation is a worry, change in tax policy will be a worry, but as we talk about them, markets typically climb those walls of worry if they're not too dramatic, and if they're for the right reasons. my sense is we're going to see the reopening trade overpower all of these worries and all of these risks. that's how we're betting. >> okay. >> so we're using this volatility based on rates, based on inflation, based on potential -- to take our position. >>

took her basket of stocks in her coverage universe took out outliers in terms of multiple like a zillowage of 4.2 and applied a 20% discount and came up with $175. her basket included names like chewy and e-bay. do you think gamestop business is only a 20% discount to a business like a chewy or e-bay >> yeah, listen, i don't think so this is a stock that i actually liked at around $20. i thought the worse was behind them they were moving to digital. they have e-commerce at 30% of sales. so things are moving in the right direction. the way they're getting to the multiple and comps using for the valuation, i think there's a lot of risk between here and that point for a stock that typically trades at less than one time sales. this is not for me at this price. >> yeah, tim >> yeah, and stretches into affiliated platform revenue, you know, like add platforms, marketplace -- >> ntf and virtual worlds. full circle. >> right so, i find it a huge stretch and, you know, look, going from $15 to $175 or whatever this move was, is really tough to explain. i'm not sure why anyone would do it it's a b

continue to rise our next guest is an expert on both sides of the divergence founder and former ceo of zillownd palantir board member spencer joining us now so good to see you this morning. the were e is, with all this talk about rates, what's your outlook for the tech sector? >> thanks for having me, julia look, investors are getting more selective. we see this, of course, rates tick up. a risk off trade investors tend to cycle out of high growth, high-priced assets into slower growth companies that are a little safer, and we're starting to see that happen seen it over the last couple of weeks. for me, i'm a long-term investor and try not to get caught up in short-term fluctuations. we're at the beginning of digital transformation in huge versicles in our economy investing heavily in vertical companies like amazon, also vilma, state's title and others we're talk about anything to press a button on your smartphone and have magic happen are long-term winners and will make it through the choppy period we're seeing. a little out of growth. >> we will talk more about that spac deal made in a litt

you look at the russell 10 on 0, they are gigantic stocks that are not even in the s&p yet, vroom, zillow opta, datadog, these are the kind of stocks that i think john is referring to >> he directly referenced the fang stocks, though. i'm not making it up he said fang stocks, not me. i'm not assuming, insinuating. he said -- do you think faang stocks, josh are -- >> that's the part i disagree with him on. >> ex-alphabet >> i think some extra at premium multiples. i would also point out this idea you'll get this massive multiple compression as rates rise for the best companies in the world, that's already been proven wrong. we saw a rate hike cycle that got under way in earnest in 2013, and rates rose through 2018 they started with a taper, then fed funds rate hikes, seven in total, i think three in '17 and four in '18 you saw the faang stocks do incredibly well, far outpacen the overall market i don't think it's as simple as saying multiple will contract for faang stocks because rates are going up i think there will be multiple contraction where you have stocks trading at 40, 50, even 60

a survey by zillow finds there is no metro area in anywhere in the u.s. where women have more buying power than men but the gap is closing. in san francisco, 8% of single, female renters can afford a home. currently, a gap of 4% behind single-male renters. in san jose's metro area, 6% of single women, who are renting, can afford to buy. that's 2% behind single men. >>> thousands of grocery workers in san jose will start seeing more money in their paychecks. the city's new hazard pay went into effect today. a $3 per hour increase for workers at grocery stores with 300 or more employees. some shoppers we spoke with say it only makes sense. it's about time to increase the pay for workers who have been on the front lines during that whole pandemic. >> they should obviously have that, of course. if it wasn't for people doing this work, we wouldn't have what we need. >> unless the city approves an extension. the new ordinance applies to both independently owned stores and franchise stores. >> a billion dollars to close the digital divide. that's how much comcas

i thought first of all you were talking about wool worth zillow is doing incredibly well and i thinkis much more about again what i talked about at the top of the show, the hatred, new found hatred for high growth and a company that did a lot of great stuff and i don't mind the motto buying and selling homes. not my favorite but gives them growth can we take one more can we go to larry in new york, larry? >> caller: hi, jim, thanks for taking my call. >> of course, larry. >> caller: i'm a devoted listener, first time caller. >> thank you. >> caller: i'm a long time holder of ncr. >> well, then you're kind of a suffering there but it's making a comeback i went to see him many, many years ago on the island and i felt there was a lot of value there. it taking a long time but the value is being realized so i'll go with larry. i think larry has got horse sense. and that, ladies and gentlemen, is the conclusion of the lightning round. >> announcer: the lightning round is sponsored by td ameritrade >> announcer: coming up, how should home gamers play the great reopening? cramer has got the

a survey by zillow, says the average rent in the city's most expensive neighborhoods dropped 9.6% from february of 2020 to february of this year. the average rent in those neighborhoods, now, about $3,300 a month. but for representers in san francisco, the least expensive areas, prices fell just 1.8%, year over year. people in those neighborhoods are paying an average of $2,400 a month. that's nearly $300 more than the national average. last summer, it was on the brink of going under. but today, amc theaters close to reopening all of its locations. this is the anc theater in santa clara. it reopened for the first time in months, today. it's just one of hundred -- hundreds of theaters across the state that are now reopening as those restrictions loosen. amc is the nation's largest-theater chain, and says it expects to have most of -- 99% of its theaters up and running within a matter of weeks. >>> well, it is old school and it is awesome. an east bay tresh is once again open for business. children's fairyland in oakland reopened, today. after a four-month closure. fairyland was built on

. >> i'm looking at zillow, nice place over on first avenue, 400,000. 1,000 square feet. i think we should all move there. >> something to think about. well, it is 2:45 in the morning in sonoma, it's 5:45 in new york city. straight ahead on the money edition of "fox & friends," it's often precedented situation at our southern border. now president biden says he may pay a visit some day but the surge already overwhelming facilities. texas governor greg abbott joins us with what he has seen on the ground and he does not like it one bit. and senator tom cotton breaks down the response from washington, all live on "fox & friends." plus, congresswoman-elect julia and new york assemblyman ron kim, ben domenech and shannon bream. it's going to be a very busy monday. it all kicks off in 14 minutes and 15 seconds, right here, right now on the channel you trust for your morning news. carley and jillian back in a couple minutes. you're watching "fox & friends first" right here on the fox news channel. eps me moving forw. they guide me with achievable steps that give me confidence. t

they benefit too much from the ur urban exit i like zillow and tractor supply big cities will bouncehan you expect thanks to fear of the next pandemic but because the last year has proven working from home is viable for millions of people. second,comorbidities, term we didn't know a year ago is what really kills you you want to lower the risk stay in shape, that's one of the reasons i like planet fitness and peloton. at least when some of the froth comes out of it, it's still a little high. it may be over inflated and more than $30 billion market cap. finally, this is one that -- finally saw love today i like apple several years ago the ceo tim cook told us on "mad money" he felt his greatest legacy will be apple's pivot to health. the more i use my apple watch, okay, picture of me and my wife. the more i use my apple watch, i realize how indispensable it's come to staying healthy. i always say, i want you to own apple, don't trade it. all these are plays on the next pandemic even when we finally beat covid, i think this experience has been so traumatic that we'll be quietly preparin

if they do any homework at all, they'll see a slide that says angie home services, airbnb, uber, zillow, etsy, ebay, why should you be in that commpanyc? >> this is an enormous market unbelievably broken. you think about the care to get things done inside their home. it such an experience. we can built something great we're the largest player in the category but think we're about tiny relative to the overall size of the market we have an amazing opportunity to take a really clunky broken model and today if you go to angie or the angie mobile or app, you can have a very unique experience that you can't get anywhere else. there is no one with 20 million people and a quarter million service providers in the platform and there is no one that says hey, we're here to help you love where you live we're here to build angie into the home. >> what i found was very intriguing in most recent conference call. glen, the cfo a wise man said the average amaerican should do about 12 jobs a year on his or her home but it's too darn hard. we did 1.8 people aren't doing enough to preserve their home value.

ok, very cool and our second topic of conversations kind of interesting real disruption i i think zillow but you're thinking there's more out there that's going to disrupt how the whole thing >>and let's go over this that something called i buying and it's a phenomenon of you know real estate agent you think a real estate agent comes to your head more and more businesses to go online because that image has go away. you talk about 5.4 million homes sold last year 1.9 trillion dollars in transactions. >>and it's going to millennials and the generation z who biggest fighting group in the next 10 years roughly 40% of america. >>a group of bypass they are up about phones. so one half of one percent of all sales and real standard and from the so it directly to the buyer. i out the middle man that's one half one percent expect about 10% by 2030 which would be a 220 billion dollar market 2 players open door and so well if you want to get in early those are stock ideas work or adviser. if you believe the industry is going to be disrupted it's like getting into tesla 10 years. just known out there

liz: well, tom, i'm not hearing docusign, zillow or twilio or snowflake. so, chris, give me a sense, are you done with the tech names, or do you get the feeling that there are some ones that have certainly gotten a lot cheaper and they're on discount? >> yeah, i think so. there's a broad base of stocks you can look at. i'm more of a big picture person, i look more toward the indexes, you know, trade the nasdaq, you know, as an index in itself. i would say this, no matter if you're buying individual stocks or if you're trying to buy dips in the nasdaq, the key is you have to have your orders working before we have dip. we've seen the volatility that regularly had 2, 3, 4%, 5% moves down, and i think that that is the numb one caveat -- number one caveat you would say. if you're looking to buy the dips, you have to have the orders working beforehand. where we're going to be in three or four months, i would imagine once we get the stimulus there's $3 trillion sitting on the sidelines in cash, $3 trillion coming down the pipeline from stimulus. i don't know how

if you were loaded to the gills with the teladocs and the docusigns and twilio and zillow and on and on this bounce gives you the chance to lighten up so i would say that it's a rorschach test what did you hate the most about your portfolio before this huge moment where value went crazy to the upside and tech got killed how do you want to address it today? so from my perspective, there are some names i like a lot for the ultra long term and paypal is on that list and zoom is on that list. these are stocks that i have a very low cost average, so if i were to buy them right now i would be averaging up and i may do that because they're names that i think i'm getting at a big discount relative to where they could be in the future and that doesn't apply universally across the board >> look, i hear you, and there are stocks that are down a lot and they're not picking that up on discounts that exists sarat, however, you must think we're at the end of the tech route because you're buying facebook and you're buying some chip stocks, too you've got qualcomm and nvidia that you've been adding t

you draw the hard line like tesla and zoom and peloton and s zillow tiffany referred to them as the dusttles those stocks have been all over the board. they were up big time 50%. down 15% a couple weeks ago. up 12% they have been all over the board. major interest rate sensitivity. becky, our view is this. we are not out of any sort -- we will be in the zone with anxiety around interest rates despite what the fed says. the bond market will make up its mind the transformative companies are going to be the most susceptible to changes what we view is step back from the noise. recognize there will be massive shifts and really anchor your position in three or four core holdings we think you can sleep well at night knowing the world is going there to give you examples apple benefitting with the digital transformation zillow, a company our firm owns. those are examples of companies you can sleep well at night owning >> gene, do you not believe the fed? you said the fed can say this, but the market will make up its own mind you think the rates are going up anyway >> i think so. i'm far from an e

we look at where is transformation happening i'll give you one example, we are investors in zillow andn door we have tested the thesis around what higher interest rates mean. it's something not a lot of people are talking about in the pullback we want to make sure that model still works long-term. that part of the story, so there is many layers to it, and i would just say this, too, we're not through this volatility has been quite acute, and i expect to continue to have big down days. big up days for the foreseeable future >> i want to get to stephanie, but just listening to you, gene, so 14%, all right, i get it, but on the way up when you were doing that just again and again and again, you know, taking in 14% increments as the nasdaq or all of these stocks move higher to levels we never thought possible why would you be surprised when it gives back 14%. >> well, i should have been more clear. i was not surprised, even with the pullback, and even kind of the recent bounce yesterday, the story stocks, if you will, are still up 92% over the past six months, and so we were always bracing

top tier investors include lennar, one of the nation's largest home builders and the cofounder of zillow> lyft shares higher after releasinged 8k filing moments ago saying ride sharing demands is surging earlier than expected joining us now, lyft's cfo along with deirdre bosa. >> thank you for joining us right after this news. yesterday uber's ceo said the green chutes they were seeing were encouraging but it was too early to tell. what makes lyft so confident that your recovery is more than just green chutes, that it might be some inflection point does that bring your profitability time line forward once again. >> thank you for having me lyft were excited to announce we had our best week for ride share rides since the pandemic despite the severe winter storms that impacted so many states across the u.s., average daily ride share ride buying increased 4% month over monday if you were to normalize for the storms, the growth would have been even stronger look i am smiling because this the release we also disclosed that ride share rides for the week beginning march 15th --we are talking les

one of the running jokes of the pandemic is how much we're all looking at zillow, at homes, even if you're

. >> she's one of them as you say teladoc and zillow and butterfly networks >> jonathan rothberg, we've of times for his various spacs and that is butter fly, no longer a spac as well. and she a buyer of that one. and let's get to dollar general. we did mention it but let's give you the news the company did report earnings but it is the guidance that is responsible for the loss of 6% or so of the shares in dg this morning and it is what we might expect and it goes kind of to our initial conversation to some extent in terms of what dollar general is saying, which is that the significant uncertainty continues to exist, and this is again their guidance for the fiscal year 2021, continues to exist, regarding severity and duration of the covid-19 pandemic, and given this uncertainty, it is difficult to predict specific outcomes, that's kind of where they are right now, in terms of u.s., you know, the consumers a behavior and their business but it's not a good outlook net sales in the range of 2% decline to flat. so the best they're hoping for at this point is flat. same store sales declines

. >> you know, i'm looking at stocks, jim -- >> this just this month, right the zillows of the world and teladocss, the spotify, the twilios the same sort of conversation as snowflake, simply they're either relatively recent ipos that flew or 60 time valuation or 100 times or more times sales, they have all come down a lot way, way off the 52-week highs >> average 80% for the stocks that i follow in that group. the ones that people love. and when you speak to younger people, they have had it they've decided that just as they thought that only stocks, that stocks only go up, now they think that stocks only go down and because they're in stocks that are not in keeping with the great reopening trade, and these people always, a lot of these people, i am generalizing and getting a lot of hate tweets, but they don't understand rotation, and stick with these stocks and hope that kathie wood has enough fire power to get them moving again. >> the other ones are not interesting. as you said, the nucor and the other one, pick the name out of the hat from the industrial complex. let's talk about

other winners to look at, look at zillow, twilio and etsy. i'm looking pretty strong moves.ast for now. i will throw in peloton. it seems to be your favorite stock of the day, up 13%. don't forget peloton was down 30% before the session started today. it made the announcement they are entering their first asia-pacific market in australia in the back half of this year. two things that implies. positive news, by the way, is that peloton if they get into australia the back half of this year they will clear up the backlog of orders for north america and demand for bikes right now. secondly, if you think about it. we talked about david tepper yesterday, right? he says you can't be bearish on stocks, yields have come down, they have. other countries, need to find somewhere to put their money to get some sort of yield. you will not get anything better than 1 1/2% in u.s. treasurys, right? so that brings down the yields when there is more demand buying in. stuart: yep. the yield on the 10-year has come all the way down to 152, 1533. look at this, gas prices. in the last month we've

and nobody knew what the margins were, the competitive positioning, the fact that zillow's out theredown, but there'll be incredibly dumb deals done. unbelievably stupid investments will come your way and we'll see -- what will shut the door is when the spacs redeem, when the cash and trust redeems and they get their $10 back and people feel it's not just a free lunch. right now, it's been a free lunch. there'll be discipline the markets always correct and there'll be great sponsors joe malone or -- i mean, there are great people out there doing great deals. and they're being, i think, disciplined. we compete against some of these guys, and there's crazy people it's just like, we've returned 20% compounded for 30 years at starwood capital group in real estate and we know how to structure deals. we know how to evaluate deals. there's a lot of rookies out there and just be aware, i hope the public isn't being led to slaughter. because some of the people are doing frankly on your show, the equivalent of bucket shop operators. they get up and espouse stuff that we actually know is not tr

now, core lodge jibbing, which is a zillow competitor, big decline after having second thoughts withhe real estate boom. microsoft, you know what? its $10 billion pentagon contract might be in danger. a new administration is coming in, new defense leadership, and there might be a rebid with other companies for this lucrative project, which i thought was interesting. check out gray scale's bitcoin trust. today it was up, up 4% just a few minutes ago, but that's how volatile the markets are. gray scale was trading higher with the move up in bitcoin strategy. and finally, tesla just went sub 600. look at that -- stuart: whoa. susan: yeah. and don't forget it was added to the s&p 500 at 650, so it's down roughly 30% plus from those $900 peaks. stuart: that's amazing. when i saw tesla at $900, i never thought that it would come all the way down to where it is now -- susan: had the same reaction thinking who's buying this at $900 when you're trading 100 times sales? stuart: yeah. well, there is extreming volatility today, and tesla is just one example of that, i think, down 4.5%. susan: ye

zillow is pushing back against bottom market pricing. reiterating that interest rates are like to rise -- are likely to rise by 2024. cash rate increases late next we're -- late next year in 2023. the governor emphasizes that any change in policy will now require actual, not forecast inflation. global news 24 hours a day, on-air and on bloomberg quick take, powered by more than 2,700 journalists and analysts in more than 120 countries. on vonnie quinn, this is bloomberg. haidi. haidi: watching some early movers in the australian session, let's get back to sophie. >> we are watching the sector in australia, we are seeing a bounce in shares of yearly -- of nearly 9%. zip, halting a four-day bump. rising nearly 7%. moving to the downside, under pressure after futures dropped under concern that chinese demand is imposing restrictions. they have the potential to return minors on the way down, we have payment players, zip gaining early in the session. haidi: we will be speaking to paypal about the company's push into the buy now pay later spac