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tv   Mad Money  CNBC  January 25, 2021 6:00pm-7:00pm EST

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not be watching the game unless it's like walking past. >> here's the cmg ad the game is not going to be a blowout but our burrito is come see us at cmg goldman sach my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends, i'm just trying to help you make money my job is not just to entertain but to educate and put it in context. call me at 800-7 43-cnbc or tweet me @jim cramer
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game stop caused the stock market to collapse under its own weight does it make sense to fret about this stuff with the major earnings report on the way starting tomorrow? after a day where the market was torn in two different directions, the dow declining 37 points and s&p advancing and the nasdaq advancing, we need to talk about the vaccination we were treated to story after story how president biden's pledge to jab 100 million people in 100 days may not work out there may not be enough vaccines to go around we hear about covid strains that could beat the vaccine making the exercise pointless we already know the economy is weakening. while new infections have pulled back from highs, although we're seeing over 200,000 cases, the psychological impact is causing people to stay home resulting in a voluntary shutdown but it's not like the economy is in ruins for the 93% of the work force
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that's employed, they have nothing to spend their paychecks on so they invest or pay down debt the service economy may be in horrible shape but if you work in travel, leisure, dining or sports, if your company is private and small you may be doing fine ultra low interest rates heamake i easy to buy a new house or car as they leave the city for the suburbs. this may be the best housing market they have seen because people are desperate for homes with work space and school space where they can be safe from covid. you can't put a price on safety. home builders are blowing numbers away the whole sale fueled upside surprises. the remote work style is a service to the industry and retail and if you're worried about going out, there is a stay at home enableenablers here is logical ones, dominos,
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other ones like it you have to be ready for the slowness and the way people wear masks and the lack of testing infrastructure but we're not headed for another lockdown. frankly, the state can't afford it and the governor of california lifted a stay-at-home order even though the outbreak is bad out there we know how to do this you can leave the economy open as long as you keep the elderly and at risk at home. so if you're selling stock here because you believe the economy is cracking, i believe you're making a mistake the federal reserve is keeping interest rates low and i have no doubt he'll stick to his guns. most consumers have a lot of spending money and eager to use once we're vaccinated and the world goes back to normal, please how about the second worry that the stock market will be brought down by the wild actions and stocks like game stop, the retailer place you go and buy video games and, you know, you buy the hardware
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this game stop is something we must talk about because it's bid up higher and higher there say form i mentioned before wall street bets on reddit a lot of young people read reddit i read it because younger people read it. i have a community of investors to choose individual stocks and run up with a group with commentary how much they love them they don't target any stock. they go after the ones that are heavily shorted to come up with a short squeeze. they will come up with a thesis and run them and run them until the shorts have to cover their positions spurring one more leg higher i know what it's like to get caught on the wrong side of a short squeeze. the only thing a short seller can do is throw in the towel no point to fight it you have to cover your short meaning buy back the stock before you run out of money. you can see this battle how it played out in game stop today. look at this see that spike yes. the shorts believe the company is worthless but the longs think
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it's going to the moon it's a brick and mortar video game retailer at a time people increasingly download games off the internet they have the xbox and playstation and flying off the shelves and have a big investor who is smart it easy for them to gun game stop higher and make good money if it hasn't been made already when the stock spiked 159 today before closing at 76 the wall street best crowd can easily find stocks with big short positions. you can look them up, it's not a problem. game stop was alludicrously shorted. for years, betting against this is shooting fish in a barrel they forgot what can happen when the longs gang up on you and gang up is a technical term. not saying they are doing anything illegal but enforced. we saw the same thing in b and g foods and bed bath they have short positions of 36% and 63% respectively
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they are going after rocket mortgage with a 31% short take crazy out there. bed, bath beyond stock that opened up 34 and leaped to 37 squeezed up and plummeted $30.68 to finish 47 cents the squeeze didn't stick my advice to the shorts, i'm not going to give any advice to the wall street reddit crowd my advance to the same trades leaving yourself open to this action, you'll never know what wall street bets will target next now, not all of these targeted buying campaigns are about busting the shorts some of the stocks they aim for are genuinely loved. i'm thinking blackberry, a good software business. big runs today they are so loved and the wall street best crowd doesn't seem to want to stop at these levels. they use the targets like analysts are enthusiastic. as entertaining as the moves are, this stuffer is ultimately a side show. at the end of the day, i don't think a reddit forum can bring the house down
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they are picking under valued stocks and running with them it's not big enough to move the entire market. come on. what really matters now is that we have a stock picker's market for the first time in 29 years this is a market that rewards companies for being well run and less sensitive to the broader economy than they used to be many of the biggest winners thrive because they enable the economy. remember that? stay at home economy, we have just galore they sense a high bar. that can hurt the market there is a gauntlet of stocks from microsoft to tesla to boeing and amd and can hurt us if we get hit with the profit taking at once but of these, only apple is at the highs now. when a company reports a descent quarter like kimberly clark, the stock sores. at one point it was up 22
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points stocks go down when they disappoint and that happened to ibm. a market of stocks the bottom line with the exception of a hand full of tech plays, there isn't a stock out there that's big enough to bring down this market if anything, the earnings starting with j and j tomorrow could be a terrific sign that many big cap stocks are immune to a slowdown and unproturbed. it's a market of stocks and not a stock market anymore let go to andrew in vermont, andrew >> caller: boo-yah dr. cramer. first time, long time listener here. >> i like being a doctor what's going on? >> caller: thanks for everything you do for us little guys. >> i'm trying. >> caller: last summer i a took a position in the defense industry for the nation's war fighters it initially made gains but since been on a slow decline despite the government contract. with a dem in the white house
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and earnings being reported later this week, what is your opinion on l 3 harris? >> a lot of people feel this way. the democrats come in, defense stocks do badly. that's not true at all as a matter of fact, it's often the opposite we'll hear from rathion tomorrow they will tell us what to do with a 3 harris. i need to go to azeeza in texas. >> caller: mr. cramer, how are you? >> doing well. how about you? >> caller: fine, thank you my husband and i always watching your show. thank you so much. >> you're too kind thank you. >> caller: my question is about drop box what do you think about the company? should i buy >> i think the problem with drop box frankly is it doesn't have any earnings momentum. i felt you can say all it needed is slack and that got a bid but i don't know who will bid for drop box and i think microsoft
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is being competitive so i would prefer you not to be in drop box when there are so many other good tech stocks to own. what matters is we have a stock picker's market for the first time in a long time and i don't think there is a stock big enough to bring the market down as you hear negative commentary about it has to crash now because of game stop no on "mad money" tonight, is it time to head west for the next investment i'm eyeing boot barn to see if it's worth considering here and which electric spacs are you playing? it's been a year since the first case of covid, i'll sit down with dr. michael menna to find an easy and affordable way to keep the virus at bay we're not using it so stay with cramer. >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question?
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tweet cramer #madtweets. send jim an email to or call us at 1-800-74 1-800-743-cnbc miss something head to
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boot barn is back and better than ever. before the pandemic this was one of the best stories of retail.
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stocks surged more than 160% and covid hit and the stock got hit because boot barn sells work cloths and sites got shut down everybody forgot about this one. i wished we paid more attention because they spent nine months working back towards previous highs. the company announced spectacular fourth quarter results. could this thing even have more upside let's take a closer look with the president and ceo of boot barn welcome back to "mad money." >> thank you very much thanks for having us on again. >> we've seen the final numbers here and they are excellent of course i am blown away the fact you ha a january that some retailers can't manage single digits how did you do it? >> we're really thrilledwith the january performance plus 17
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consolidated plus 20 in the stores and brick and mortar stores and i think that's one of the things that has always differentiated boot barn is the strength of the stores business. it's a number of different things some of the internal initiatives are taking hold. i would acknowledge that a portion of that acceleration between december and january is undoubtedly due to stimulus checks, we believe. >> right. >> having said that, the underlying business continues to be very strong. >> okay. so jim, i've done a lot of work on the idea that a lot of little players have not been able to survive the pandemic has the competitive landscape for you changed? you're number one. you have 10% shares. a chance for this is your chance to garner more share >> it does the traditional mom and pop retailer, a guy with one store or two stores in a local market frankly is the number one
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competitor across the coup ntry as we open stores, we're truly taking share from somebody that doesn't have a national brand, doesn't have a professional buying team, hasn't been developing a lifestyle brand over the last decade or so so we are taking care from mom and pops that's atrend that's been goin on for the last eight or ten years and probably has been accelerated daughter to the covid pandemic. >> okay. so i know you believe you can have 500 stores long term. that's doubling the fleet. brick and mortar stores? a lot are shying away from them. >> it's a no brainer 30% cash return in the first year and we look what happened over the last few months, even during the pandemic, boot barn
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coming back to ensure markets and had anticipated and even if you think about during the pandemic, we've been able to demonstrate positive sales in the brick and mortar stores. we're very bullish on increasing the store count and think the 500 number is very much in reach if not more and that is here in the u.s. >> now, i was thinking i'm always looking for recovery plays doing well we're going to have rodeos coming back and regard boot barn all over the country not just and i think you guys could be. >> there is a number of things we believe could be future wind in our sail. we've been battling covid and battling softness in the oil
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mar markets. we have pressure to get in inventory to the supply chain during the pandemic. that should go away and to the point you've made, events will come back. there is more than 1,000 rodeos around the country every year and every single country music concert for the last nine or ten month haves been cancelled and that gives us the catalyst to buy a new pair of boots and they have been sorely missing we've been hustling to make up for that kind of loss in cust p m -- customer demand but i think going forward there is bright prospects for us that should hopefully continue our trend. >> one last question, you brought up this notion of the work boot. the oil patch work boot. how do you feel about the oil patch coming back because i see
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oil prices coming higher and how do you feel about the work bootd -- boot and consumer that goes to work every day? >> the work customer in general seems to be very strong for us the work boot business is strong for several quarters certainly prepandemic and then even during the pandemic work boots really lead the reemergin of the business. the oil patch is under pressure. we called out softness and flame resistant apparel that correlates with the oil markets for us but we're starting to see a nice pickup in pull on work boots. it does seem that that part of the united states is starting to reemerge and build back screen so we're a bit bullish that oil could become a tail wind to us the next couple quarters. >> i couldn't agree with you you did incredibly well during the pandemic and the numbers you're seeing now are
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extraordinary. president and ceo of boot barn congratulations on your success. >> thank you very much appreciate it. >> when you look atry retailer they have to have something special and be something that can grow and grow and boot barn can put up more stores "mad money" is going to be right back
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acquisition. this money exists to buy other businesses the spac climate change crisis real impact one clii for you home gamers is joining forces with an electric vehicle charging station play. clii surged from 13 to 22 on friday that's a gain for pulling back a few today. you usually get a big pop when the electric speaks but this was essentially huge which is why we're focussing on it. it will be the third electric vehicle, third electric vehicle charging company to list in this fashion. a year ago there were none of them this is a full blown subsector and the charging stocks are beloved by investors. makes sense. it feels like everybody wants a piece of the electric vehicle action as auto makers roll out more and more electric models, you need more charging infrastructure and you have to assumecities or taxs
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we don't know which ones will catch on but we do know they will all need the juice. and that's what makes the charging story so compelling now that there are three of them and here we go with that beautiful graphic, three of them we got to figure out which is the best you got that climate change crisis real impact merging then you've got the first one, the switch back energy acquisition that's merging with charge point and last month we learned another spac is joining forces with ev box all three had enormous runs. we're not early. charge points pull back from 49 before christmas to 48 and change today it up 200% from where it was trading in early november. spac partner pace beneficial finance pulled back over six weeks ago, it was at ten so how do we identify the best
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of the bunch is it charge point is it ev box or ev go? this is an exercise called comparison shopping. you need to store through what each company does. what is running them who is funding them? consider the price this is the way to analyze the spacs and evs. charge point is a 13-year-old company based in california with 4,000 customers with networks of 115,000 charging sites charge point sales other companies. network charging hardware, software subscriptions, maintenance support and a mobile app that tells drivers where they can plug in their cars. that's what you need they are a compelling business model and get revenue from subscriptions and keep everything running it charging stations as a service. i love the business model. it light on the inventory and heavy on the software. how about the cv box
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this is a 10-year-old dutch company with 190 charge ports across 70 countries, like charge point they sell hardware and have a software service component which i love the biggist difference, they started in america and started moving to europe and ev box started in europe before expanding to america this is one where european exposure might be attractive because the governments are much more aggressive pushing energy for ev go, the one we found out about on friday, this one is a little different they own and operate the largest public fast charging network, fast charging to be operative for an electrical vehicle in america and their network is fueled by renewable energy the largest public fast charging network isn't very large we're talking less than 900 locations, 67 metro areas but they have real great partnerships there is general motors. they picked these guys for the nationwide electric infrastructure buildout.
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the plan is to add 2700 sites over the next five years they are also doing business with uber and lyft charge point and ev box are arms dealers supplying anyone that wants to build charging stations while ev go is building a network of it own. i have to admit all three are compelling let keep digging down. you have to look at the bloodlines charge point is run by ramano. he's an engineer with a lot of experience founding and selling technology companies zemens, bmw, chevron, fantastic. we're less familiar with the european management team but they have software service experience what draws me to this one is tpg pace beneficial financial which is an offshoot after tpg which is a fantastic private equity titan. ev go is intriguing. the ceo has run a distributed
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company and rural company. she has venture capitol experience perhaps most important, she was assistant secretary in an acting under secretary of the president obama administration very useful connections now that biden is in the white house. the spac is run by david crane remember him the former ceo of nrg that went old school to clean energy play. it didn't work the company didn't like him. he was a classmate of mine in law school and a friend. he's been a pioneer in the field. maybe too early. not now. i don't want to get bogged down. nobody knows how much they can make in 2027 but all three have real revenue now charge point did 135 million in sales. management can grow at a 50% clip they brought in 70 million euros last year and forecasting 72% growth this year better than charge point
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given the box is more conservative with the long term protections jgiving numbers to 2023 they think they will break even by 2023 for earnings before interest, taxes, amization they had $14 million in revenues last year, not that big but only were growing 49% this year ev go projects 54 million in 2022 and 166 million in 2023 which would represent massive acceleration if the sales take off, they will be ebitda positive in 2023 charge point and ev box are similar. ev go is a smaller and more speculative story, think higher risk, higher reward. tyreek hill versus st. mahomes all right? let take price they haven't finished merging with the backers but right now charge point has an implied enterprise value of 11.1 billion
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and ev box 1 billion and ev box 4.6 billion. assuming they can hit the forecast, they are trading 14 times sales and both very expensive. only ev box has a reasonable valuationless than seven times $38.66 ev box trades under tpgy, $24 stock. ev go trades under clii $19 stock. bottom line, if you want a charging station boom. ev box seems like the best of the bunch similar charge point over the faster growth and cheaper stock. you need to buy the spac tpg and build positions here in 24 want something more speculative? pick on climate change real impact ideally let it come in more because it's hot to handle but holy cow this space is something. keep in mind cnbc spac 50 is
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keeping track of these for you and the cnbc spac 50. jack >> caller: jim, a great big boo-yah from allentown. >> my, i was in allentown yesterday. how do you like that that's a great coincidence. >> reporter: that is a great coincidence. glad to have you here in our great city. >> that's a good sign. what's up? >> caller: first time caller, long time listener. >> thank you. >> caller: are you bullish on ford motors? where is the stock headed? >> jim farly is running it and has the backing of the family. this quarter may have warranty issues i don't want to have too much hype but my travel trust owns it join along at the action alerts plus club. we're not adding to the position that's important for people to know let's go to quidwight in connecticut.
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>> caller: thanks for taking my call. >> of course. >> caller: the stock i have a question about is xl fleet the stock has risen to 35 and came back down to 20 i bought some at 21 and looking to buy more. my question is would several analysts giving the stockprice between 30 and 60 and the companying an ev with cars on the road, should i buy more or -- >> i would i would. this is a space i like very much and tonight, we're going over this group and i think this is the most popular group that i can find of all these companies coming public. why? because we have a biden administration and we got to clean the darn air and there is a consensus about that i think they are in good shape thank you for the comments everyone wants a piece of the electric vehicle action making charging stations compelling and now you know how to play it. you got them here. can you take a picture of it so you know and you can buy much more "mad money" ahead. the novel coronavirus continues to challenge the public health system but one epidemiologist
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found an easy way to get a handle on the pandemic is there a stock to bring down the market for good? i'm giving you my take and telling you what to make of the game stop situation so stay with cramer
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while we wait for everyone to get vaccinated, we fight for the pandemic to be contained we spoke to a professor of epidemiology at harvard for his game changing at home plan everyone could have a cheap rapid test like those in the u.k. these are tiny bit less accurate than a pcr test but you can test yourself every morning and if it is positive, stay home we got a new president trying to push to a big rescuepackage including $50 billion for covid testing this could be on the table. so tonight, we're checking in with dr. menna and do a demonstration. he's from the harvard school of public health that brought along paper based covid tests to show
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you how easy it is welcome back to "mad money." >> thanks so much. happy to be here. >> doctor, before you came on, i used this covid-19 self-test kit. it took me 90 seconds to actually do it you have to wait 15minutes to get results but results were available far earlier than that. how do we get these? how does everybody get these >> the tests are being made today. the biggest issue is the regulatory frame work that we have to evaluate tests at the fda is not keeping up with the science. it's evaluating tests against the pcr and pcr is so sensitive, it's catching people for a long time after they have been in infectious so we need to get a new pathway at the fda to e evaluate these, which are effective to catch people when they are infectious. that's all that matters.
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if you're infectious, stay home. if you're not, no problem. >> it was very easy. i did a nose swirl, put the drops in this area here and it showed me what to do this is something i would i imagine is far less expensive than the $30, $35 test i keep hering about. >> these are selling for about $5 they can be anyway some companies are marking them up a lot this particular one by nova is not. the test by abbott is also selling for $5 but have it associated with an e medicine consult. we need to get all the prescriptions out of this and get the e medicine consult out if we want to use this for personal surveillance at home so i know if i'm safe generally to go to work or school, then we don't need doctors involved. we can just get people to these
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cheap rapid tests available at home. >> do you have examples where without disclosing anything that might be a test, where it is working? where we know you've cut down the number of people getting sick >> absolutely. this particular test we just finished a large trial on college campuses and found when we're using it every couple days, the test has been nearly 100% tesensitive to detect peope before they get their pcr results back we're finding it working as well or better than the pcr test to get immediate results, find those who are infectious and stop them from enter acting with peers in that case. >> i want to make it clear as great as this sounds, we are not in a situation where you can go on amazon and buy these, correct? >> for the most part, some of them will come around but they will still have e medicine consults linked to them so there are other baggage that will be
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associated so for the really cheap ones that are working exceptionally well, unfortunately, they're not quite available yet. >> and yet, i would say in terms of what is going on in the coup t -- country, we want an affordable solution. we don't want a solution just to benefit rich people. >> one of the best things about them is they can make testing equatable. not only do they make it fast and accessible, it's a new level of equitibility. it doesn't matter how rich or poor you are if the government purchases them and gets them out to people but the tests are so inexpensive that anyone can use then, anyone can have them available to them near daily for use. you brush your teeth in the morning, use a covid test. if you're positive, you don't leave the house. if you're negative, you do everything the same are as you would have done. >> let's pause if people who got
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it had it, haven't given it to anybody yet and stayed home. do you imagine we could have a case load dramatically diminished >> absolutely dramatically diminished i'll put it this way, if we can get 100 people to go on and infect just 90 people, doesn't sound good you know, 100 people who are infected go out and infect 90. right now 100 people go and infect 140, 150. but if we can get them to just infect 90 for four weeks in a row, we get a 90% reduction in where we otherwise would have been we can dramaticry ally reduce ce in a month. >> with that, how can we make this happen? what do our viewers have to do to make this happen because this is the thing i want to make a huge cause because you're dead right about this. >> i think one of the biggest things is these tests, we need to make sure the money is there and the president's plan is
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putting the money in place to make sure tests like this can become available and we really need to make sure that the fda and others are keeping up with the science, that the regulation isn't getting stuck in where it was last february, that we're keeping up and recognizes the limitations of pcr and recognizing the benefits of fast testing and we push for new regulation at the federal level to ensure that every american can get access to these tests ideally tomorrow we could be stopping this pandemic, you know, in the very near future in the united states. >> well, let's hope president biden or some of his team listened to what you had to say because i think it's the most important thing to do at this very moment to try to stop the pandemic thank you dr. michael menna. you're making a big impact on everybody's life thank you. up at harvard, school of public health public health. that's the real issue. not medicine, it's public
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area homeowners learn how your neighbors are accessing $100,000s with a reverse mortgage loan from the bay area's #1 reverse mortgage lender. lemme tell you something. i wouldn't be here if i thought reverse mortgages took advantage of any american senior. or worse, that it was some way to take your home. a reverse mortgage loan isn't some kind of trick to take your home. it's a loan like any other. big difference is how you pay it back. discover if a reverse mortgage loan is right for you. use it to eliminate monthly mortgage payments pay of credit card bills, medical costs and more. with a reverse mortgage you can pay whatever you can when it works for you, or you can wait and pay it off in one lump sum when you leave your home. find out more, call aag for your free information kit i'm proud to be a part of aag. i trust 'em. i think you can too. call now!
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there is battle lines being drawn and nobody is right if everybody is wrong young people are speaking their minds and getting so much resistance from behind when buffalo springfield wrote that song, these days it could be an anthem for the younger investors that flooded sites with positive commentary about many heavily shorted stocks with the biggest one being game stop. the long suffering video game retailer now the short sell ers have bee
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running over this from $47 to $3 as low as last year that would be a good time to buy it back. not that long ago the con conventional wisdom said game stop was garnered. they tried to turn the thing around but video games going digital and the mall going bye, bye the future looked bleak. the xbox and playstation came out. last week the company added the founder and successful chewy to the board of directors taking a major stake in game stop management has been silent certainly not talking to me but gnat in the last few weeks the stock went from 17 to 80 with a pit stop of $159 today spectacular turn it been an incredible win for the bulls including people bushing it on wall street bets and my hat off to them made a lot of money. it been an incredibly bad wager for 148% of the float meaning they shorted more sharing than
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are actually traded. well, they pushed the luck and it blew up in their faces. so what is all this about? i think it amounts to a street fight, the thing we're used to seeing between big time money managers remember when bill ackman went to war did a great job on that story. they started pushing the story herb life was a fraud. the longs including major players like carl icahn was a legitimate company as you can be in the marketing business. came out swinging. was he trying to burn the shorts didn't matter. he had a right to be vocal as long as you disclose what you own and don't commit fraud he was calling it as he saw it and steam rolled back to game stop. the insiders selling are aggressive yet you can argue ryan cohen is a miracle maker and maybe they will use prices to do a large equity offering and clean up the balance sheet and diversify into a successful different idea now the shorts have been burned
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may believe they are acting in concert and should have to file r as such. the government may question their disclosure and deem them a group and go against them. some market makers call options to the people might squawk they're manipulating the stock for a short squeeze hurting the market makers in the process i don't think they would win they wouldn't win in court and the government doesn't have a case against them but they could make people squirm i think the longs have every right to make the case if you want a stock, more power to you analysts do it all the time. nothing is wrong with expressing your honest opinion if you're not making fraud leclaims or pumping and dumping. this is a first amendment right. i think the shorts are probably right that the stock is too expensive now but really up a lot but they can't win until the longs declare victory to run out of ammo. at the end of the day, game stop is a battle ground stock it no longer about the company but players and easier ways to make money than betting on
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cheerleaders or possible government investigation let's take a call. tina in illinois, tina >> caller: jim, my husband and i love you so much. >> thank you. >> caller: we yacwatch you ever day. >> thank you very much, thank you you. >> caller: we're action alert members. appreciate your humor. thank you. >> i try to be funny in the videos my wife called in the middle of a video. i told her only emergency. >> caller: bring her on the show some day we'd love to meet her. >> done. >> caller: we bought canape growth and up 85% on that position alopene and i'm thinki related to the legalization of marijuana might create more muncie seekers, taco bell, yum
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brands >> the cheese pizzas look great. good stock to own. i applaud you. thanks for joining the club. all right. everybody, i like to say there is always a bull market somewhere and i promise to find it for you here on "mad money. i'm jim cramer see you tomorrow the news with sheppard smith starts now good evening i'm sheppard smith this is the news on cnbc a few minutes earlier than normal tonight so we can bring you live coverage of the house of representatives as it delivers to the senate the article of in impea impeachment. this is a live look at the door. the impeachment article charges the former president within incitement of insurrection they are expected to walk the single article across the capitol, the first step before a trial can begin. senate leaders agreed to delay
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the proceedings until february 8th. that will give the former president's lawyers more time to prepare as impeachment managers are sworn in we now know that the democrat patrick lahey, the senate's longest serving member will preside over the trial the majority leader chuck schumer says the proceedings will be fair and that they will move at what he calls a relatively fast pace senators will once again decide whether to convict the former president. and if they do, they could prevent him from holding public office ever again. in a moment, we'll get analysis from melissa murray, a professor of law at nyu but first, cn nrk brksbc cnbc elon moy. walk us through the process. >> reporter: this is the first time a president has been impeached twice, the second impeachment trial for donald j. trump. this is something we've seen before the house manager is literally
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carrying the article across the capitol from the house over to the senate floor now, once they arriveinside th chamber, they will be presented by the acting sergeant at arms, then the arrsergeant at arms wi read a proclamation saying they must remain silent while the managers exhibit the article it will be up to the lead impeachment manager jamie rascon to read the article for incite t -- incitement of insurrection he's dealing with this after having lost his son a few weeks ago. it important to point out we won't see chief justice john roberts preside over the trial as he did over the last one. it will be democratic senator patrick lahey in his role as president protemp of the senate who will be presiding. he says he will carry out this duty in a non-partisan manner and he will have to take a
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special oath in order to provide tonight and over the trial to come now, tomorrow we are going to see more formality as the senators are officially sworn in as jurors in this trial but the real crux of the trial will not begin until february 8th when the house managers begin to make their case the house speaker nancy pelosi said she chose these managers nine of them to represent the diversity of the caucus, race, gender, demographics but they also have a unity of purpose congressman rascon described it as an effort to save the republic and shep, that's how a lot of lawmakers feel about this at a time you can still see some of the broken glass and shattered wipingndows from the violent mob on january 6th. >> this walk across is part of not stoatute but constitutionaly
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mandated, correct? >> reporter: it's part of tradition and part of the formality of this process. this is not something that is taken lightly and that is one of the reasons why we see them sort of solemnly walking across the capitol here the last time this happened, democrats got slapped on the wrist because of the way they initially engrossed the articles of impeachment remember nancy pelosi signing that with multiple pens and handing out -- >> do we want to listen -- >> reporter: democrats were seeing -- >> thank you very much. >> reporter: seen as -- >> i want to bring in. i apologize. we have technical issues with the audio. the floor is yours with my apologies. >> reporter: that's okay democrats were seen by some republicans as taking this lightly and somehow celebrating the moment this time, shep, it's a much more somber occasion again, everyone having lived through that day on the capito and having that memory so fresh
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in their minds and this is one of the reasons why, you know, you're seeing the type of mood on capitol hill that we are seeing play out before us and that procession will take place in a very slow pace but indeed, it not a long distance between the house and the senate. >> there is a lot of disagreement, obviously, over what is happening today. well, here they come let's -- actually, these are staffers a lot of disagreement over what is happening today, how vocal has it been? how nasty has it gotten, if at all? >> reporter: well, i think it's encouraging that schumer, the majority leader in the senate, chuck schumer was able to reach this compromise with the minority leader top republican mitch mcconnell over the time frame for at least the beginning of the trial they still have not reached an agreement over how the trial itself will be conducted but both sides are saying that this initial time frame will provide
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for a fair process to begin with many republicans fear that this process overall will be unconstitutional. >> thanks so much. let's listen for just a moment and we'll reset when we hit the top of the hour. and good evening, top of the evening, i'm shepard smith this is the news on cnbc right now house impeachment managers are delivering the article of impeachment to the senate chamber this ale's make the walk all the way across statuary hall, a three-minute walk we're told and once they reach there, they'll deliver that to the united states senate. i do want to bring in a guest while we


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