tv The Claman Countdown FOX Business October 19, 2021 3:00pm-4:00pm EDT
company, best product taking market share from the big boys. charles: all we need to know. i love talking to you two guys mark, ryan, thank you both very much and everybody is excited by this netflix thing, because you know, this is a company that wall street said was going to fail over and over and over again, for at least a decade and you know what? they always seem to do the right thing. liz claman, you've got another great hour particularly leading up to this earnings report. liz: oh, yeah, and i know you're going to want to stay tuned for this because charlie gasparino has adam aron of amc, i mean, with the whole sec report that is enraging the ape s, you've gotta watch this it is risk on as we kickoff the final hour of trade. investors pumped up by a slew of strong earnings driving them to pound the buy button the s&p and nasdaq looking to notch five straight wins their longest win streak in two months and the dow and the s&p are inching within points of new all-time highs. that meme stock memo is finally
out and the founders of the ape crowd says it's insulting, retail investors intelligence. wall street bets reddit room founder is about to join us in a fox business exclusive to fire right back at the sec's report. it's assumption that the apes are vulnerable to gami fication and its rejection of the idea the meme stock crowd did show enough strength in numbers to pull amc and the rest of the meme stock from the press a pus forcing short sellers to cry uncle, the guy who started it all is coming up in just a moment. the price of bitcoin is going absolutely crazy right now driven by the crypto crowd sharing on the launch of the first-ever bitcoin futures exchange-traded funds. the man behind that historical etf pro shares global investment strategist is here to explain why his new fund is better than just cashing in on crypto itself , and as concert and
sporting events and broadway finally fill seats to pre-pandemic capacity, vivid seats has the ticket for you. its ceo is here as his online ticket marketplace makes its public debut on the nasdaq, but first, we've gotta get to this breaking news, we want you to specifically look at shares of gamestop and online broker robinhood. both are in the green, even as that highly-anticipated sec report on january's meme stock madness finally released yesterday, is infuriating self- described apes or retail investors because it outright diminishes the fact they showed extreme power over old school wall street. some facts show the opposite of what the report is reporting. in mid-january, investors in the wall street bets reddit room began chatting up and agreeing to buy shares of gamestop to foil short sellers who were heavily betting against the stock as their coordinated move grew in numbers the stock price soared 1,600% at one point , overwhelmed robinhood's trading platform which many of
the ape traders prefer because it's commission-free forced it to temporarily pause long trades in gamestop and another wall street bet favorites including amc theaters, bed, bath and beyond and the rest. gamestop shares were heavily shorted by wall street firms betting the retail video game chain was about to go down the tubes, look at this , december of 2020, 110% short interest, the company had been forced to shutter its doors during the pandemic, killing revenue. the report basically denies that short sellers were squeezed by the phenomenon but it ignored one key fact. today, the short position of gamestop is at just 10%. to the floor show, trader jamie rogozinski is the founder of the wall street bets reddit chat room where this began many years ago jamie your first reaction to the sec's report? >> you know, to be honest there's a whole lot of nothing in there but i was kind of insulted when i finished reading it. they are saying well, gamestop didn't go up because the short
sellers were covering no it wasn't really the gamma squeeze, but the confetti animation, that looks like it's an actual problem that needs to be solved so i don't know. i still don't think they get it. i think that gary gensler should take a walk down wall street and take a look at what they just put in front of the charging bull so he can realize the retail traders are here to stay. liz: the gamification piece is the animated sort of rewards when you effectuate a stock trade and of course robinhood had that, and you know, am i right, jamie, to a child getting a reward, or a local lollipop for completing a task and it seemed like the sec report was saying that seems to be the problem. you know these wall street bet traders. are they that easily sucked in by confetti that's animated? >> no, that's insulting so there's this 45-page report that i read and then the conclusion is like four different
suggestions that are in there. they are saying well when it comes to payment for order flow we need more reporting and when it comes to short selling we need more data when it comes to the dart pools we need more information but these confetti animations that's really going to fix the problem. are they really addressing the issue and they are recommending after their 45 page removing this confetti animation is going to fix it, that's crazy people aren't buying stocks because you get little animation after that. right? like it's nice, it's a good interface, but it's most certainly not what's going through people's minds. liz: let me give you some examples because it did, the report did articulate that so-called institutional accounts had significant short positions in stocks like gamestop, but also, dillard's for example. it was 66% of the float was shorted back in january, but today, only 27% of the float is shorted, and again, we show gamestop, gamestop back in january, when all this volatility was happening, 123% of the float was shorted.
today, 16%, so the report is saying oh, you know, the apes didn't have any effect on forcing these guys to exit their positions. i mean, are you kidding me? >> yeah, it did say that they forced them to exit their positions but what they are saying is their position like they didn't close them that much it was like a weird thing where they are saying look, it was over 100% short float for gamestop, and eventually they did close out the positions , but it wasn't that much. it's like that's over 100% of the shares outstanding had to be purchased, meaning more than one-time for every share that had to be repurchased how could that not have an effect on the price that's just crazy. liz: amc turned around and arguably was saved. i want to let our viewers know the ceo, adam aron is going to join charlie gasparino in just a few minutes, and he's going to give credit to the apes, the so-called meme traders, from your wall street bets reddit room that you founded, and you want to talk about turning it around. i was looking at some of the
numbers here and amc, overall, had seen a marked spike and again what did that allow amc to do this rise in the stock price? >> you have, once again, back in the report where he's almost scolding people saying look, kids, it's not meant to play around this game. this is a capital market, it's meant to raise capital for businesses to grow. well guess what? that's what happened with amc, right? their prices went backup. they got great publicity but they did an additional offering , they sold more shares, they raised capital to reinvest it into goods and services. that functioned the way it's supposed to like for the first time since i've been playing with the stock market, i actually saw a company raise money because they needed to raise it, as opposed to paying back their investors. i think that is definitely something that is not spoken about enough, which is hey these things are actually getting fixed, like in addition to that fixing, you have this report that's talking about how you have this market is for fairness and equality and stuff but keeps talking about how all these
brokers ended up breaking because they weren't ready for individuals to be using the market. i mean, where is, i know the fangs have to go through stress test for 2008 for simulating liquidity crunches but there's no stress test for brokers. one broker ran out of id's for trades meaning so many people traded the computer didn't know how to generate additional number sos they had to stop traying where is the fairness in that. liz: yeah you have to agree there were 10,000 trades initially, that were 10,000 accounts that were trading gamestop and in january, that jumped to nearly a million. i want to bring in traditional trader scott fulman. i don't mean to diss. i mean a guy whose sort of part of the older school of trading, what do you think when you see this report and you look at all that has been revealed here. >> well you know what's funny, liz, is that we were there on the day it happened. we saw what was going on. our customers saw what was going on, and people were actually joining in on the bandwagon with
it as well. the fact was we knew there was a high short interest in a lot of these companies and a lot of it was predicated on the fact that these companies were not doing well because of the pandemic and there was a reason to go short. now all of a sudden buying comes in, they start to scramble and say hey, we've got to start covering some of these positions making sure we're controlling our risk. that's a short squeeze, and the fact is that it's being denied, i think, really is not doing service to the investors out there. we have to admit what happened and we have to admit the reasons why it happened, but the fact is , again, i think that people really need to know what's going on, whether you're old school or new school, doesn't matter. the trading activity spoke for itself that day. liz: and that is impressive, jamie. is it fair to say as we wrap up, jamie, that these meme stock traders maybe saved amc all
those jobs and all of those theaters and the tentacles that arised from that whether it's real real estate or all of the people that worked there? >> they did abdomen the and the market functioned just wait until the retail traders start voting with the shares they own that company will be surprised they have to be accountable to their shareholders a concept they probably realized didn't exist. liz: great to have you both the founder of the wall street bets reddit room and that really started something and the likes i've never seen and trader scott fullman, great to have your perspective too, scott. we've got this fox business alert, pharma investors they don't even know where to look first, major news exploding out of the sector, hour by hour, johnson & johnson almost at the top of the dow jones industrials after a third quarter earnings beat during the quarter, after medical device sales jumped on the resumption of surgical procedures which had been sort of put on the back burner during the pandemic. j & j shares up 2%, it did report lighter than expected
revenues and that's blamed on the fact that even at a half a billion dollars in sales of its covid vaccine, that still missed sales targets the drugmaker says it does expect full year vaccine sales to hit $2.5 billion. vaccine manufactures mixed on reports that the food and drug administration may allow americans to mix and match, meaning getting a different booster shot of the covid-19 vaccine than the one they originally took. the fda also is expected to authorize boosters of moderna and j & j vaccines by tomorrow evening, and that mix and match news should come alongside that as well. ulta beauty looking ugly at the moment shares of the cosmetic store chain at the bottom of the s&p down nearly 10%, after releasing long term financial targets during investor day, but then, neglecting the issue of guidance for this year. full year 2021. still, even though we're down here, ulta is still up 41% year-to-date, perspective, children.
pen national gaming has the s&p crown at this hour, it's sitting almost at the very top of the index throne after the brokerage started coverage with a buy and a price target of $95, we're at $80.97 and that is a gain today of 4.7%, it expects to gain market share in the sports back and i-gaming segments, and pen, which as you know majority owns star stool sports also announced the completion of its acquisition of score media and gaming. and the bullishness spilling over into other wagering stocks we do at the moment have international game caltech actually, just turned negative, fubo tv was higher by 10%, engine media powering higher by 12.8% right now. >> all right are you ready to attend your first live indoor concert in close to two years? get your tickets here, vivid seats making its nasdaq debut today, the ceo joins us
live on his big day to tell us how post-lockdown vivid is standing out in an increasingly crowded marketplace for online tickets, close bell 48 minutes away the dow jumping 164 points, s&p better by 30, the nasdaq having a strong day as well we're coming right back. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. (vo)isit indeed.com/hire while you may not be running an architectural firm,
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liz: let's bring up vivid seats making its nasdaq debut, right now, its stock is trading higher by 1.5% to $12.45 high of the day at least, $12, well let's see , today's range $ 12.70 the low, 11.11 this happens after its merger with spac horizon acquisition corporation, giving the company a valuation of $1.95 billion. it's a secondary ticketing platform, meaning, you have tickets, you can't use them, somebody got sick, you forgot it was your wife's anniversary, so you resell them. they've partnered with major players from espn and rolling stone to all bunch of different kinds of partners allowing
ticket holders to resell those seats on vivid seats live marketplace. timing here is crucial, vivid seats is jumping into the market precisely as live events come back into full swing. let's look at a live event of the ticketing stocks all in the green year-to-date at least live nation, the parent of ticketmaster hitting new highs this month, up 37% and for this year alone, eventbrite up 15% so how is vivid going to further disrupt major players and their winning streaks? vivid seats ceo is joining us live now from the floor of the nasdaq. first of all, congratulations, stan. that is, this is an interesting feet for seat, but let's talk a little bit about how you really plan to stand out from the crowd >> hi there, liz, thanks for having me on the show today. really excited to celebrate the milestone with the team and talk to you and when you talk about differentiating yourself against the consumers i'd start with, we are a unknown player, vastly unknown in the consumer space and you'll be hard pressed
to find a $2 billion company, half a billion in revenue, over $100 million in ebb ebita that you've done in 2019 but yet when you look at consumer awareness, less than 10% of the country really know who vivid seats is and so as we look at really establishing who we are and telling people who we are, it's not just about telling people who we are, it's really about telling them why we're better and we've done that through vivid seats rewards. liz: concerts, broadway, sports vents, what do you see the most activity in, where are people trying to resell their tickets? >> yeah, we see look, for us, we see concerts, we're a little bit heavier-skewed concerts with that being about a majority of our volume there, and we see a lot of the big artists touring this year, and into next year as well. liz: okay, but live nation has a huge portion of that business, they are the parent of ticketmaster. stan, i mean, i love your guts i
love all that you're doing at vivid but you've gotta really articulate to this investor audience how you beat out a ticketmaster with people jumping on a live marketplace to resell tickets. >> yeah, look. i think we've got a couple things. on the consumer side, we've got the only rewards program that really rewards every consumer with 10% in loyalty and value, on every ticket they buy. i think that's unsurpassed in terms of economic proposition. then you look at the partners that we brought on, we're now partners with draft kings as part of our rewards program as you buy more on tickets you'll earn free draft kings dollars to make bets on the sporting events you're going to and on top of that we've got a surprise and delight program that rewards people with upgrades but also access to unique events so across the spectrum with 10% in value draft kings dollars as well as unique vents and special offerings we think we've got a really differentiated and compelling offer to consumers. liz: all right, well, some of that would have to certainly attack the issue of fraud or ,
for example, scams on platforms like these. what do you do to ensure that that does not happen? >> yeah, i think there's a little bit of a narrative out there around fraud. look i can tell you from our data. fraud on vivid seats is less than one-tenth of a percent of our volume so it's really a small portion but we've also invested heavily in making sure that consumers trust and have a really safe platform to buy from we now, for the past three years , have been rewarded news week's best customer service in ticketing and also a 100% buyer guarantee and we stood by even throughout the entirety of covid i think those two things we really put our money where our mouths are and we feel really confident in our ability to offer that safe, trusted platform, to consumers. liz: well, the eagles, i don't know are they coming on tour because i'm so pumped i need to see them again. >> they put on quite a show. i think folks are excited about dts, and a lot of great
performers out there. liz: stan, we're watching "seat ." thank you very much. >> thanks for having me liz. liz: stan chia going public today of vivid seats. missing in action during the red hot real estate runup, enough appraisers, skyrocketing real estate prices have created home buying headaches and hurdles well beyond just you coming up with the down payment. grady trimble live in a chicago suburb with realtors facing a slew of issues that makes running the decathalon look easy , closing bell 38 minutes away, look, the dow climbed another 10 points in just the last few minutes we're up 176, we've got much more ahead, including adam aaron of amc theaters. don't go away. flexshares etfs are built with advanced modeling. to fill portfolio gaps and target specific goals. strengthening client confidence in you. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com
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september new home construction forced the cool down. housing starts for the month fell 1.6%, missing estimates of a three-tenths of a percent rise and permits looked even worse tumbling 7.7% as home builders battle supply chain snafoos plus material and labor shortages, and that's not all. to northbrook, illinois where grady trimble joins us live on how you can navigate these home buying hurdles which include the fact that there's a complete shortage of appraisers out there reporter: there's that, and talking about the tight inventory, liz, this house we're in is the perfect example. it's about to hit the market, probably next week. kathy manahan-wilson is the broker, you expect this to go quickly. >> i don't want to jinx myself but based on where things are and the fact there is no other inventory and this is a development totally filled out i think we'll go pretty fast. reporter: yeah that inventory issue it's happening everywhere, even though traditionally this time of the year in
illinois, home sales start to go downward, but not the case any more, during this crazy market, and liz, also mentioned the appraisals. a lot more appraisals than normal are coming in under the contract price, which can really mess up a deal. you haven't dealt with that too much, but that's partly because you're warning buyers and seller s about that possibility with all these bidding wars driving up prices. >> for sure i'm telling micell ars get an appraisal before you even go on the market so we have an idea of where another appraiser will come in. if it's a hot property we will up-tick that when we go to list, multiple offers you have ammunition to give to the appraiser that may not be appraising at the number that you sold for. reporter: for buyers the key is to have more money down in case you have to cover that difference between the bank won't loan you. >> for sure what i'm telling my buyers, if they're going into a multiple offer situation, you're going to have to know that you've got the money to make
sure you've got the down payment that may not be for the number that what you're paying for the house. reporter: and that's why cash is king right now, and liz, we've been talking about these home prices going up and up and up. i'm sure you saw that prediction from goldman sachs that they will go up another 16% in 2022. i mean, there is just no sign that this hot market is going to cool off anytime soon, and all of these issues are the perfect example of that. liz: oh, boy. i know. we had to wait on an appraiser when we were trying to refinance a lot of people are experiencing this , grady thank you very much and by the way, so much more information on this. you've gotta tune in for tonight 's fox business prime real estate block. american dream home with cheryl casone airs at 8:00 p.m. eastern followed by mansion global can k c macdonald only on fbn prime. the crypto faithful getting a new way to trade on the top digital asset as pro shares launches a bitcoin futures etf
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etf trading under the ticker symbol bito. it opened at $40.88, right now it's at $41.83. to be clear, it does not directly invest in bitcoin, no one is allowed to do that yet when it comes to funds or etf's but it provides investors with exposure to bitcoin futures , because it tracks those futures. this arrival of the new etf has added, as we said, more fuel to the crypto craze fire, but what is going to keep that fire going and growing in the future? the pro shares global investment strategist simeon hyman here to break it down for us, great to see you, and wow, it's always interesting to be the first but tell me about how this came about and how long you had to wait and most importantly, what was it like when you got the news you've been approved? >> well, innovation is at the core of everything we do at pro shares. in fact we first filed for bitcoin etf in 2017, so we've been focused on the space for a long time.
i'm not really privy to all of the conversations with the sec but what i would say is that the public information that the sec has been making about the benefits of the futures market is certainly very consistent with what we see as the real value of accessing bitcoin through those futures, and we think what we did today of putting together a belt and suspenders approach of the regulated futures market, and regular etf really provides a robust solution for investors and one they can just put in their brokerage account, trade to like a stock and that's a solution that a lot of people have been waiting for. liz: right so for those of you asking, and we had this conversation this morning with the team of "clayman countdown", why not just invest in the futures. well right now bitcoin futures for october, 64, 415 and when we were having this conversation at 10 a.m., it was 62, 450 so today alone, your new presence in the market has really helped, i
would imagine, to push this higher, but let's talk a little bit about exactly how it works, as you track the cme futures of bitcoin. >> it is indeed the cme futures, and we invest in the nearest contracts in the futures market, not ones that are many months into the futures. the nearest ones and the benefit of that is that it really does track the performance of bitcoin historically we see that and to give you a contextualized example, we actually launched the analagus much you'll fund back in july, ticker btc fx using the futures approach and in the period that that much you'll fund has been around, bitcoin as noted by the bitcoin reference rate. remember, bitcoin has a bunch of different exchanges, you can't just kind of invest in the thing in the corner of your screen but the bitcoin reference does a good job of pulling together a few different exchange metrics. that was up in that period through last friday, 51% we know
its been going on. the mutual fund, our mutual fund running the same strategy as the etf up 52%, right on it, and by the way, for reference, the grey scale trust gbtc was up only 37%, so we really do think that etf will do what it's supposed to do and can be a very effective robust and convenient solution for folks. liz: i like how you got that competitive dig in there, but this leads to my next question. there is such things as ether futures have you applied for an ether futures etf? >> we're always looking at the evolution of the crypto market. i mentioned that we filed first in 2017, for bitcoin etf so we're certainly watching the evolution of the market, the maturation of the market, the various ways of trade, we're excited to add to the liquidity of the environment with the etf. we look at other currencies and of course we're watching the evolution of the regulatory landscape and if there are
opportunities to bring other differentiated and value-added solutions to investors, we'll certainly be considering those quite seriously. liz: well, ether is getting a bump as well it's now up $94 to 3,821. simeon, please come back with your next done, i want to see a futures when that exists. >> no comment. liz: thank you very much. watch the proshares bitcoin strategy etf it's up 2.2% right now to 4,178. are big changes coming from amc theatre ms. spears charlie gasparino with ceo adam aron and the exclusive on what's ahead for the business model, and how he views the ape investor who piled into save amc. and carlson dixon is a founder and ceo of a company called reveal suit. you want to see reveal? look what happens when you pull open the jacket.
yeah, you can have your school logo, your favorite team logo, it is a brilliant idea. he joins me on my everyone talks to liz podcast, he was raised in the dallas inner city by a single mom where he learned the power of hard work, developed a love for basketball, he played in college, but years later as he was coaching college , he was faced with a difficult decision. continue coaching for a steady paycheck or dive head first into that business of reveal suit. you've gotta hear his story it's available now on spotify, apple, google wherever you get your podcasts closing bell ringing in 19 minutes, dow is holding on to 156 points of gain, we are coming right back.
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amc shares, they are moving higher right now, charlie gasparino is at the annual milke n institute global conference in la and managed to grab amc ceo adam aron and break exclusive news for the "clayman countdown" but first charlie you have more news on the sec lawsuit filed against ripple. charlie: yes, grand garlinghouse i could never say his name, we spoke to him yesterday we asked him about his suit in the context of what's going on with the bitcoin etf and what the sec is doing in terms of regulation. listen to what he had to say. >> it has had a stifeling effect here in the u.s. , hopefully when we get to the end of this , there will be certainty and clarity and frankly it could be a positive thing for the xrp echosystem community since the one crypto where there is clarity is certain. charlie: do you see a settlement of your case in the works? >> i would love to spend less
time on this , and be able to move forward. the one thing that cares about more than anything and really for the whole xrp echosystem is theres clarity going forward that xrp is not a security. if that's not in the cards then there's nothing to settle. charlie: well, there you see it. liz, i think people at ripple are actually annoyed that the sec's approving a bitcoin etf while they are attacking the xrp and ripple, and as you heard, no settlement unless there's that very fine point that xrp remains a currency and not a security, thus outside the sec boundaries. let's go to adam aron fascinating conversation i just had. that was the best thing about mi lken, liz, you just talk to people as they walk by and we ran into adam and it's interesting, what he said is this. he goes amc, the theatre chain, is going to be a different company in the next year. it's not going to be purely theaters.
now, i tried to get out of him what it is. he promised to go on the "clayman countdown" and talk to you and i about what exactly those changes are, but he told me, within the next couple of weeks, amc will announce a meaningful change that was the words he used in his business model that will tip the hat on where they go in the future so he did talk about the amc ape community. liz: what did he say about that? charlie: well he basically says they are the reason why they are going to be able to make the changes. the fact that they rallied behind the stock, they have given him capital, 2 billion in capital, he can grow the business, he can build it out, he can change it, and we're going to see where he's going with that in a few weeks. he also thanked me, believe it or not, for some of the comments i made about him and this is where he and i agree i think he's a very good ceo. i think if anybody was given a horrible hand, he's looking at streaming, which it hurts,
obviously, his theatre business. he's had a pandemic which is still going on which obviously hurts. he's done some incredibly innovative things to keep things together and he's not a bs'er. if you read what he says, he admits the stock based on historical trends is trading at way too high of a price, and there's a risk here and there's a risk here, and there's a risk here, and so he's very forthcoming about that, but he did say this. he said listen, amazon wasn't built in a day and we went back and said people used to say that jeff bezos, back in 2000 had a portal for a bookseller therefore the stock was only worth $6 but as you know it's worth a lot more than $6 today. he said try to imagine, he goes i'm not saying i'm jeff bezos but that's where amc will go and i'll change stuff and innovate and i believe him. i think he's very smart. you look at the moves he's doing , it's really smart hugh
he's trying to fight to survive and i will say this. no other ceo i think in america was dealt this sort of hand that he was dealt given the pandemic and streaming. that's a one-two punch and he's still kicking. part of it is based on the apes and he acknowledges that b he's just not sitting on his hands. liz: i don't know if you heard, charlie, but we have jamie rogoz inski, who founded the wall street bets reddit room at the top of the show. he is insulted by the sec's indication in the report which i have right here, which basically blows off the apes efforts and the fact that they've chased a lot of shorts away and the fact that amc was up 1,865% year-to-date. charlie: by the way, i read the report. i don't know if that guy read the report. this is what the report really said about the apes and adam would agree with this , i think. there is no short squeeze in amc
if you want to go and you want to buy this stock, because you believe the mother of all short squeezes are coming and it's going to explode, you're probably, probably just throwing money away. if you want to support the company because you like the company and you think adam is a great ceo that's another thing but that whole short squeeze notion did not play out really in the meme stock, by the way, that report also said that this notion of naked short ing is a bunch of malarkey. but they shot down -- liz: let me read you a line from the report. the report says the media characterized trading in gamestop as an act of rebellion intended to humble short selling professional investors who had allegedly targeted the stock. what part of 130% of the float being shorted as gamestop is alleged. that to me is right away skewed. charlie: wait a second, but what does that mean, liz? people need, i'm not saying you,
but maybe you too. you need to understand how markets work. by the way -- liz: what part of 130% of a float shorted is allege is allege. charlie: what do you mean, what do you care? liz: that's saying allegedly. charlie: the whole report is a loaded word. if you read what they said this is one of the strongest, it's the strongest part of the report, what they said was the conspiracy theory and this is after tons of analysis, and by the way, gary gensler would stop screaming in my ear, gary gensler would -- liz: i'm not saying anything. charlie: to crackdown, i'm just telling you this. that report shot down every conspiracy theory. liz: but it pumped up the gamif ication acting like the retail investors are stupid and distracted by shiny objects. charlie: no it didn't. it said they like the stock. stop it. i read the thing twice.
liz: so did i. charlie: did you read the record liz: now i'm getting yelled at right here. charlie: just because you have it right here doesn't mean you read it. go back to adam aron, keep looking at what adam is going to do because he's going to be making news in the next couple weeks and break it on this show. liz: charlie gasparino live from beverly hills we're coming right back, don't go away. as an independent financial advisor, i stand by these promises: i promise to be a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com everyone remembers the moment they heard,
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(rhythmic electro rock music) (crowd cheering) - bito, bito, bito, bito! - [announcer] bito, the first u.s. bitcoin-linked etf. ♪. liz: wow, netflix flat as a pancake ahead of release for earnings. analysts expecting the "squid games" streamer will report eps of $2.56 a share on revenue of $7.48 billion. let's bring in the comanager of the strategic funds who knows everything about this stock right now. mark, we got a lot to talk about here with netflix. >> we do, liz.
good to see you again. but before we get to the important stuff, the next time gasparino challenges you like that you have got me in the green room, tell the producer to yell in my ear, tag me in, we'll get him straight. liz: was i wrong? allegedly institutional investors were shorting gamestop? up 130%. >> what is so frustrating the lack of understanding not only from a lot of market participants, i hate to say some of our leaders in congress about what that all means. that is why you get reports that are hard to unpack. i know charlie makes statements to elicit reactions from me but we'll talk about it another time. liz: absolutely, mark. pile in on netflix. >> yeah. liz: what are the chances the company beats, the stock sells off, sell on the news. everybody heard the "squid games" narrative which is amazing? >> it is. after coming out of four quarters of weak customer
growth, people coming back to real life after the pandemic. thank god i spent way too much time in the apartment in new york city during that time, but now you have to have a catalyst, right? you have to have a catalyst for growth. the "squid games," i hope it is not a one-hit wonder. what a lot of it is. certainly we been looking at a lot of alternative data. i have this company called battle fin we talk about a lot. we look at alternative data. we look at monthly active users. what is the interactivity of subscribers with the app, not just here but also overseas. the asia pac story is a big part where netflix will go in earnings in q4. i don't think there will be a lot. the stock has been trading in a fairly narrow range. the options we've been adding, what the stock added $18 million since end of september. >> it had a incredible runup. maybe you see sell on the news.
you're right about the korean hit which is swayed -- squid game. disney plus is slowing down. this company is poised and positioned in my opinion, humble where they look incredibly powerful, there is great growth potential when it comes to cable people cutting the cord, moving on. i got to get your thought what you hate right now? >> good lord, i wasn't told that. what do i hate right now? what i think is the biggest threat to a continued bull market. we're about to close 1% off the highs on the s&p. the supply chain issues and commodity prices are terrifying me right now. that is the biggest threat going into the end of this year. liz: you know what? i think so. it is affecting every company, everybody on their conference call is mentioning it. great to have you. mark, so you come back? you promising to get in there with charlie with a little bit of gasparino press the action?
>> you won't have to twist my arm, liz. anytime. liz: marc, always a pleasure to have you. with the strategic funds. [closing bell rings] s&p and nasdaq they're doing it. closing higher for the fifth straight day in a row. the dow gaining nearly 200 points and that is going to do it for "the claman countdown." my friend larry kudlow is next. ♪. larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. president biden holding two separate meetings with democrats today, all in an effort to negotiate their 5 trillion-dollar spending plan plus another trillion for infrastructure. we've got hillary vaughn live at the white house with the very latest. good evening, hillary. what's going on down there? reporter: good evening, larry. the president sees these dueling meetings with democrats as a way to put the pedal to the metal