tv The Claman Countdown FOX Business January 7, 2022 3:00pm-4:00pm EST
charles: i've got to leave it there, guys. tough week for the market, two guys that have done it well and done it really well for a long time. see you both very soon. now, want to take you out to liz claman in las vegas for the ce e s show. all i saw yesterday with, liz, was all kinds of articles. that thing is hopping. there's some great stuff going on out there. liz: it is arguably not just a huge business and technology story, but it's a news story. of course, because of the omicron part of it, but you can see there are people here, and they are blasting out amazing technology. we do have to get to this massive winter storm, charles. it's snowing in -- the bulls and the bears split on the december jobs report. while job creation widely missed expectations, the 199,000 number, that's a gain for jobs for the month, closes out 2021 with a total of 6.4 million more jobs than at the end of 2020.
that is the greatest increase on record. in this hour at least the dow is reflecting the positivity from that, it's up 119 points. the s&p, let's call it flat to slightly lower, down about 4 points. the nasdaq losing 92. could make a run for the finish line in this first volatile week of the new year. we're on it. the east coast might be stuck in the white stuff, but it's beautiful business temperature here in las vegas. on this third and final day of ces 2022, we have migrated over to the venetian. wearables and a lot more consumer tech. we're focusing on the two new tech categories, the metaverse and spacement now, yesterday -- space. yesterday we gave you a sneak peek of sierra space's space plane, the company has turned the most heads with its plans to win the space race with its pilotless crew and cargo.
showcasing its dream chaser space plane called the otter bellal wreath. last night before a crowd of 300 at the exclusive leaders and tech dinner, i was up on stage interviewing the husband and wife team behind sierra space. coming up, their deal with jeff bezos' blue origin to create that floating business park called the orbital race. and you guys know it's a metaverse. still in its infancy, the tech start-up that that's not waiting for it to develop. we'll show you. this is a vest that leapts you feel every sensation. i'm talking about rain drops to a wind symptom or even being hit by a bullet in the metaverse. i tried this thing. the product developer and i will show you how it works in a fox business exclusive. way more immersive than anything that you have seen. let's get to a fox business
alert. after two days of losses for the majors, the dow is hanging on to gains at this very hour. but at the moment we do need to tell you about the december jobs report. it missed on the non-farm payroll numbers. the expectation was for a 400,000 jump in job creation. the actual number was 199,000. but the unemployment rate droppedded to 3.9%. folks, that's the lowest level since february of 2020. average hourly earnings once again increasing, six-tenths of a percent last month. feeding fears of inflation, rising labor costs. let's go to where you see the reaction. the 10-year yield briefly hitting 3.8 -- 1.8%. that is a two-year high. let me give you some perspective. over the past three sessions, the 10-year yield has jumped 13.6 basis points as the market sees the federal reserve firmly marching towards three interest rate hikes this year beginning
in march. a week ago today the yield had ended at 1.496%. so you should infer from that that enter rates are rising. regarding the labor report, keep in mind not exactly a solid number because the survey period for the december jobs report or ended mid month. so the omicron-related impacts will be reflected many january's report. here is the administration's take. >> we're going to watch that closely in next month's report and, obviously, anticipate the omicron variant could have some impacts on next 'em month's report. there's no question about it. but right now we're focused on getting our recovery moving forward. liz: all right. so let's get a head start for you, our investor viewers, on next week's market. kenny poll carry, this morning it looked like the tech rout was over, but no. the nasdaq is down 82. i would tell our viewers the low of the session today was a loss of 203. but if you had to attach an
emotion to the markets, is it caution? is it fear? is it calm? >> i think it's anxiousness, right? because there's still a little, there's still a little question about the pace and the speed at which this is all going to happen. we understand that rates are going up and taper's going to stop. the balance sheet reduction, when is that going to happen? that's causing, i think, more anxiousness. not so much fear. i don't think long-term investors should be fearful, i think they should look for opportunities. but i think it's uncomfortable at the moment because you don't really know yet. liz: yeah. you don't know, but when you look at the losers versus the winners, dow jones industrials, nike, united health, and then you see the nasdaq winners, you've got some gamers here which is a big topic here at the consumer electronics show. electronic arts, obviously, there's been some pockets of real strength. where are you kind of hunting those out, kenny, and stashing
some money? >> so it's funny, so i'm hunting about in ibm, in some consumer staples, but i'm also starting to look at -- you're talking about space and you're talking about -- i'm looking at a company called red wire which is about space infrastructure which is going to be kind of this new theme that's out there, rdw, the stock is down about 55, almost 60%. it trades at $5.50. but it's interesting what it's getting itself into in terms of infrastructure and what people are going to be doing now in space. so i'm starting to look at that one because it's just interesting. it's a different way to play kind of the space story that you were talking about today. liz: yeah. we're going to be showing people quite an unbelievable development. it's not just one of these concepts, it's actually being built for the end of this century. i mean, sorry, the end of the decade. won't be around for the end of is -- end of the century. [laughter] tom the, what are you buying, what are you selling, and how do
you think next week plays out? >> yeah, liz, we saw the fed fund futures move from a 66% probability of a rate hike in march to a 70% probability after the report morning. and what we're focused on is the last shall be first. if you look at sector performance and asset class performance over the last 20 years, within the next year or so the laggards bottom leaders and the leaders fall from grace. industrials, they were third worst performer in 2021, we think they're going to be in the top three in 2022, they're going to grow earnings 35% next year versus the s&p at 9%. in that context, we like boeing. hay got two new orders this week. they're down 50% from their pre-pandemic highs. they got 19 777 freighters from atlas air, 50 737 max orders from allegiant. allegiant hasn't done business from them before, they took that share from air bus, and the chinese gave them the plan for recertification in december,
that should be completed in a few weeks. that is going to be a big catalyst moving forward. and in terms of asset class, emerging markets was the worst in 2021, we think it's going to be in the top in 2022. china is the biggest part of that weight, and you saw some really smart value investors this year -- this week, charlie munger double down on his doubledown from q3 to q4 of alibaba. this has been a very controversial stock. it's up 15-20 president in the last couple weeks -- 15-20%. they've grown cash flow and earnings per share by 500% since 2014, and last month you could buy it at 2014 prices. charlie was scooping it up, i was scooping it up, and i think there's a great runway over the next 1-3 years. china will be the only company easing monetary and first if call policy in 2022 while the rest of the developed world is tightening. we see an opportunity. liz: well, possibly. and that makes you wonder will
the fed hold on to its sort of telegraphed promise that it will start raising rates in just a month or two. kenny, tom, thank you very much. check the dow, up 127 points. folk business alert from the casinos of sin city, the mobile betting in new york state starting at 9 a.m. eastern tomorrow. online sports betting can be legally taking place. bents can take place in the empire -- bets can take place in the empire state for the final week of regular season nfl games and also, oh, yeah, the super bowl. the state gaming commission says four licensed operators can accept sports bets. look at draft kinks, they've one of them, up 6%. we've got caesar around's up 6.3% and fanduel and rush street, we're looking pretty much at a nice move for rush street. online gaming, of course, legal for years here in nevada where wednesday i was at the hyundai
booth at las vegas convention center where the korean auto giant along with a company called mow discuss demoed how you can create driving avatars. hyundai just announced yet another deal. hyundai motor and unity software are partnering to design and build a meant that verse -- metaverse digital twin factory. some of your eyes are glazing over right now, but we're talking about avatars, etc. both companies will build the road map and platforms for the virtual million plant. wow, you've got hundred hyundai up 1% to 41.70, unity software standing at $120.15. let's talk about streaming, that's still in play. shares of discovery at top of the s&p 500 after bank of america upgraded the multimedia company to a buy. citing, quote, attractive risk and reward. bofa says the pending merger with warner media could mic the company a global media
powerhouse. but again, we like to give you perspective on "the claman countdown." discovery shares are down 12% since the $43 billion deal to merge warner and discovery announced last may. right now seeing a pop of 16%. and discovery holding up 14%. well, talking about pace and space companies, cap town james t. kirk -- captain james t. kirk called space the final frontier. sierra space, a mysterious and secretive company in colorado is getting closer to inviting guests up there. sierra's orbital race basically a low earth orbit business pod so you can hang around in your shirt sleeves floating above the earth. up next, you're about to meet the husband and wife inspiration alleyeders of sierra nevada corporation, sierra space as well. finish what an inspirational story. i was on stage with them last night. you've got to hear about their deal with jeff bezos.
coming -- coming right back. the dow up 118, the s&p down 4. we're still seeing lower moves for the nasdaq, a loss of 89. don't move. ♪ ♪ real cowboys get customized car insurance with liberty mutual, so we only pay for what we need. -hey tex, -wooo. can someone else get a turn? yeah, hang on, i'm about to break my own record. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ whether you've enjoyed the legendary terrain in telluride,
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♪ ♪ liz: space stocks skyrocketing as the space race heats up. we want to show you a couple of them. virgin galactic, virgin orbit and the upo tuck ticker symbol. virgin up 19%, the etf is up 1%, and look at virgin galactic, up 725%. 7.25%. one of the newest entrants you probably never heard of, sierra nevada if corporation. i was honored last night to be on teenage and interview the founders at ces vip invitation-only dinner last night. you've got to hear how in this
couple spent a billion of their own money to reach for a dream and beat the big guy. >> we were thinking ahead. you saw the technology changing, small satellites going to come in and, i mean, relying on russians to take our astronauts to the space station is crazy, it's not right. and not only we can launch and recover our own -- but still cap assumes. these are 50-year-old technology. capsules. space planes are real, commercial runways, green fuel, that's really the piece. so we started small. we had lee acquisitions. put it all together, invest our own money, significant amount of money, and then recently we spin off our sierra space as an independent entity because it takes a lot of capital. we put a significant amount of money, almost equal amount of
money we raise which is billion and a half dollars for a $4.5 billion market valuation as the largest global serious a filing. tenacity is the name of our space flight, your -- >> liz: you're being kind. the competitors were vicious. >> they were various. a lot of political games. you know, politics, the finance, i ease people large companies have more lawyers and lobbyists than engineers combined. [laughter] so working with government, you know, how are you going to succeed. so you're going to -- innovation is very key. liz: the dream chaser, by the way, it is pilotless. it will ferry crews to and from, in the beginning, the iss, the international space station and, again, he glossed over it but he shouldn't, the green fuel. this is not fossil fuel that
this runs on. tell me, erin, a little bit about when you're going to be able to do this with the dream chaser, and then we will get to something called the orbital reef. okay. thank god for dreamers, but tell us quickly about -- >> certainly. it was not a --ing. [inaudible] so this started with seed monies from nasa. so start building. we believe that this is right thing to do. so we start investing our own money. so we invested $1.5 billion of our own money into that so then nasa saw that we were leaning forward, they start coming forward also. so massa, we got a $2 billion contract from nasa to take it to the international space station for cargo right mow. and our goal is to take -- so we
were building the crew version right now with the new funding that we just received from investors. liz: orbital reef, you have to go if you haven't been across the street to see sierra space and the orbital reef. it's a smaller scale one, but believe it or not, this is going to be for l.e.o., low earth orbit. you can't depend on the iss. that's for government and astronauts. this is a mixed-use business park that floats in lower orbit. tell me how that works. >> yeah, it's a huge business park, and it's very modular, expandable, scalable. brings a lot of partners. typical business park, somebody develops, somebody owns and leases and anybody can come and get a place through research, manufacturing, you name it. i think it's the future of space especially when you go against china is building their own space station, giving free access to people. our space station is aging, end of its life, so we have to come up with this commercial
approach. one of the things nas nasa did very successful, i encourage our defense department to do the same, public-private partnership was very key. the money i'm talking about investing, skin in the game and it's a different model than i'll give you a contract and pay you as you deliver so you don't have to take a lot of risks in investments. so that cop sent, i think, with our partner if, blue origin, is amazing. jeff bezos personally is -- liz: what is blue or gin going to do with orbital reef? >> the ultimate vision is millions of people living and working in space. i mean, jeff may be thinking about having amazon in space, but -- [laughter] yeah, really. in terms of the technology, building modules, we have multiple partners coming together. that's why this whole excitement about space economy and the investment going crazy, everything else last few years, that's helped me raise this
money because people -- it's the foundation of the vision. i think it's going to happen. the question is when, 5, 10, saw years, it doesn't -- 15 years, it doesn't matter if you have long-term vision. liz: let me be clear, mr. ozment started as an intern and he and wiz -- his wife erin bought it. russia, as you know, it's been in the news, exploded a satellite in space. erin and fatih have top level security clearance with the u.s. government, and while they didn't want to give details, they bluntly said space is no longer a peaceful domain but that the u.s. government and military is on it. well, plans to set up an nft hub, is it going to work to keep the meme crowd invested? gamestop up 4% right now. charlie's going to break the story next.
with the closing bell ringing in 38 minutes, dow is up 88 points. we're coming back live from ces z 2022 in las vegas. don't go away. ♪ ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq
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the path is gilded with the potential for rich returns. muck marc. ♪ liz: all right. we've moved over right onto the floor of the venetian where you see the consumer electron electronics. this is in universities and different locations, made in california, a california, u.s., company. check this out. you tap the screen to order. i consent. you start looking for the menu, okay in vegan -- no, i don't that. i don't want spicy kim chi, not ramen, so that's so obvious for charles payne. do we have any -- let me see if
i can find some teriyaki. there it is. teriyaki chicken bowl. you press select, this is going to take one minute. you press chef, yes, chef, it's $12.99. yes. what do i presses? yes. finish -- pre? yes. and it's going to start making, it's going to come right out here. takes about one minute, and for all of you crypto fans, yes, it takes cryptocurrency. speaking of which, let's take a look at bitcoin. crypto has fallen something like 40% since its most recent all-time high of of $69,000 back in november. gamestop making crypto news, let's get to charlie gasparino. charlie, i'll wait for my food while you take it away. >> enjoy, liz. i'm never going to cite the meme stock craze being over because i've seen, if any, sis haas -- frenzies last well after they should be over. the whole controversy over
fannie mae and freddie mac show it could last years. but traders are really saying that, you know, this whole meme stock craze is starting to get a little long in the tooth. but they're citing what happened last night. gamestop and amc, they were up double digits. i believe gamestop was up 30% last night in after-hours trading when gamestop announced stuff it was already doing, it was going to get into the nft and crypto marketplace. and with that, it was like game on with meme stocks. they trade in tandem. i think a -- amc was up double digits. but you look what happened, me and ellie, my producer, have been querying traders today what's going on? why did they peter out sod badly? gamestop might be closing a little higher, but it's still not up 30% today. it's more like up 4%. amc is up maybe 2%. why did it peter out so much?
what they're citing is this: the highs that are achieved by these socks on supposedly good news are lower. the lows that are achieved on bad news -- earning, maybe just one major blockbuster for amc and other movies underperforming at the box office, the lows are lower. and it's a trading pattern in. now, that doesn't mean the stock's going to go down to three or one cent as rich greenfield, the analyst, predicts tomorrow. but this is a ring calculation brace going on with this. and if interest rates do rise, liz, that's going to be a recalibration potentially across the spectrum. and the first stocks that usually get hit are these types of stocks. that doesn't mean the apes are going to sell all of them. some might. but if there's any institutions holding them, jim simon, renaissance, apparently holds some amc, they may recalibrate the risk and say, hey, let's count our winnings and move on.
so there are some weird trading pattern ins going on here. we should point out that claims by the apes that there's going to be a short squeeze on here, i still -- they still have not materialized. if you're an average investor and you think this is going to short squeeze and the price is going to run up, i'd be very, very careful because that is not happening. there is no empirical evidence that you can't short the stock or borrow the stock or buy the stock. there's no short squeeze going on, so be very careful with that. who knows why people are saying that, obviously to pump up the stock. that's where we are with this, liz. is this final innings? can't tell you, but there is an interesting trading pattern in earn going on here, and with higher interest rates -- liz less well, yeah. >> back to you. liz: charlie, in the time you took to get that report, i now have chicken teriyaki freshly made. let's put it on the table. and the company is called yokai,
really cool. now -- ooh, fresh. i bet the college campuses absolutely love this. thank you to iowa man ca and the team, these are all over the place, and they're only going to be everywhere in places, possibly near you. in the meantime, you're talking about food, but how does a pineapple feel in the metaverse? i know that's a weird question, but how old the sensation of your avatar feel getting shot at by a bb gun or getting rained on in a storm? coming up, making meta come alive. the company that has put forth a plug-in wearable vest that is way more immersive than a headset or anything else you've seen. we're going the demo it, show you, and you'll meet the creators when we come back. dow jones industrials the only major in the green, up 100 points. don't go away. we are live, the only business network, here at ces 202 22.
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to healthcare. ♪ ♪ liz: okay. while i am live here at the venetian on the vegas strip where consumer tech and wearables are taking center stage, i told you we would keep checking in live at the las vegas motor speedway. any moment now nine different teams from 19 universities and 8 countries are going to compete in the indy autonomous challenge. it's going to make history. sponsored by luminar, these indy cars will make history in the very first high-speed, head to head driverless race car competition. mow, we've been warned, austin russell, who, of course, is the founder of luminar, he warned many me that there could be crashes. but no drivers, so no sweat, right? we do have our cameras there on the race and the race cars. we're going to get a full report in just moments, and when they wave that flag, it's going to be really something. breaking history.
very interesting, universities are taking part in that including auburn and mit, etc. okay, virtual reality looking a whole lot more like black mirror here at ces. take a look at these smart contact lenses. okay, these are soft contact lenses and they enable players to direction into the metaverse without goggles or glasses. you can see some of that a on the inside of it. no goggles, no glasses. and i just ran into the top analyst at tiger management. he told me that that is one of the most important things he has seen here. he said the three trends are definitely ev, metaverse and all things autonomous. well, a lot of that comes together right here at ces. so i met up with a start-up today to try out what's call their tactile vest that allows users to experience real life sensations while plugged into
the metaverse or the digital world. everything from rain drops to even the pressure of a bullet can be felt while wearing this thing. take a look. ectronica is putting together what are called wearables for the metaor verse. -- metaverse. you can feel all kinds of sensations just as if they are happening many true life to you. we're going to start with a rainstorm, and i'm going to press that. then i put on the headset, and this vest is filled with voice-coil motors, and i'm feeling rain drops hitting me right now all over. this is so cool. looking up i can see -- now it's really coming down, and my hair, i would imagine, would be getting wet in a normal state, but there's a littling bet of wind i'm feeling, very cool -- oh, suddenly the storm has stopped because i can only feel a few droplesss of water -- droplets. now we're getting fireballs.
one just hit me in the back. one just hit me in the hip. here comes -- one just hit me in my back. oh, my gosh. why would anybody throw fireballs at me? [laughter] this is so cool. let's bring in the product developer behind this vest in a fox business exclusive. civil vain, we just -- sill vain, we just similar mowed it. how does the technology work in the vest you are wearing right now in. >> they create very precise and specific vibration in many places around your body that gives you the illusion of feeing touch on you while you're playing a game. liz: i understand that you're going to start taking orders in march through a kickstarter campaign. >> in martha year we will launch the campaign so you will be able
to preorder the product. >> how much will i they cost? >> $60. liz: and is it basically ago knost agnostic? can it plug into the facebook/meta consumers verse or any other company? >> it can be connected with any if application, basically. we just need to be -- [inaudible] and -- liz: i also tested it during a first-person shooter game. now understandably, you don't want to really feel like a bullet. i want to just let our viewers know that it felt like i was getting hit with maybe bb gun type of thing. what applications beyond gaming do you see this skinetic vest? i'm thinking about training firefighters, maintenance people, pilots, military, physical therapy. >> yeah. basically any application that uses the -- and you can add the sense of touch to the experience. because by adding that, you
improve the immersion, so it feels more real. and it just makes it better. liz: you don't want to give anybody a heart attack, right? [laughter] >> it's relatively gentling. liz: i attest to that. but the metaverse is already having certain troubles. of there's a lawsuit a woman has brought. she's already been groped in the metaverse. i would really imagine that with these tactile vests you really feel touch of any different kind because of the coils that vibrate. have you thought that far ahead on how to prevent something like that? >> we're not so worried, we really control the vibrations that we produce, so we can really control and make sure that no inappropriate vibration is generate9 by our device. liz: when you look ahead, what do you envision for this vest, and will there eventually be a time where you don't need a headset? we just showed contact lenses that connect you to the metaverse. >> well, this vest will probably
go from there, i mean, it will probably get lighter and beless invasive in the future. liz: the vest is called the skin etic. we'll be following you guys, okay? >> thank you very much. liz: thank you so much. dow jones industrials up 97 points. the nasdaq still flagging, down 108. history being made on the track at the las vegas motor speed. nine driverless indycars racing at 200 miles per hour. we sent kelly o'grady there. her full report is straight ahead live from ces 2022. closing bell 17 minutes away, s&p not going to make it at least at this moment. we're down 8 points. stay with us. ♪ ♪ everyone remembers the moment they heard...
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♪ ♪ liz: gentlemen, start your engines, or should we say, soft ware, rev your motors. just down the road from us is the las vegas motor speedway, and they are making history with the very first driverless indy car race using lidar, light detection and ranging, to help autonomous vehicles go straight into the or future. no drivers, i remind you. nine different indie cars, kelly o'grady is right there at the track. kelly. >> reporter: i love that, start your software. this is the coolest way to end ces, right? see the tech in action. all right? okay, i want to show you, we've got tons of people here, everyone's excited to see the technology. and i want to take you over to actually see one of these cars,
okay? so we got them going around the track. over here we've got one of these autonomous cars, and you can see there's no driver in there. and up at the top above that green -- oh, there it goes! start your software, liz. [laughter] it's off. that -- [laughter] and we are going to go right over here. this is where it's all controlled from, okay? we've got, this is the pit, and i'm going to bring in paul mitchell, the ceo of energy systems network. tell me what's going on here. what are they doing with this vehicle? >> when heir in the pit, the only option they have to do any changes to the car is before the car leaves. they're downloading algorithms, checking the level, but once that car leaves, it's outside of their control. we had a car go 169 miles an hour. that is a record for a racetrack, a world record. >> thank you so much, paul. are liz, i can't believe we hit a record, 169ing miles an hour x that was a pulley autonomous vehicle. you can see hot of excitement
here. liz: yeah. i mean, purdue's got a team, i was reading, mit, italian, german, canadian, good for them. listen, we're going to get video of this the race once it takes off. i guess the autonomous drivers are throwing hissy fits because they want more press or something like that. but fox business -- [laughter] at ces, we are here with an a incredible crew all over the place as you guys can see. kelly, thank you. i just want to show you, moen a few sents, we're all germophobes now because of omicron? this is a touchless thing. so you move left and it's going to be hot water. left. okay. you see the red light? oh, yeah, that's hot, that's hot. when you want it to go cold, you go like that, and now you see the blue light? yep, it has changed. you want it to stop, you go like
that. voila, it stopped. nice. not indy cars, but today's countdown closer thinks one major automaker is way overvalued. we will hear which name and maybe you want to take a look and start revving the engine for your portfolio. dow jones industrials right now, the only index in the green. we are green here at ces. and when i say green, we mean business. not red, not blue. dow is up 42 points, let's see if it can hold on to those gains. stay with us. ♪ ♪ flexshares etfs are built with advanced modeling. to fill portfolio gaps and target specific goals. strengthening client confidence in you. ...
you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire liz: less than four minutes to go before the closing bell rings so how is the market shaping up for the week?
well, you can take a look here. we do have even as the dow jumps about 49 points, it needs a few more points to actually pop into the green for the week. nasdaq is not going to do it. nasdaq is down about 4% on the week, with just a few minutes left to close. s&p looks to close down 1.7% for the week, and as i said, the dow needs just a few more points, but it needs to get 80 more points on the board here, if it wants to close in the green. not a lot of anxiety in the markets even though kenny polcari said anxiousness is the emotion of the markets, the vix is down, actually, showing less fear in the market down about 5%. now, closing bell three minutes away. we need to get to our countdown closer christopher zuck is looking at the auto world, we are too, here at ces. in fact, right here, this is something called the asci pod. this is going to be be built into autonomous vehicles, because you'll have so much time since you don't have to drive,
that it's one of these hang out and get a massage and completely chill out things but i'm very interested to see which name christopher zuck says has the best opportunity when it comes to big tech growth stocks and the auto world. he welcomes us right now, and great to have you, christopher. let's start off with the auto world. >> happy new year to you, liz. oh, it's always great to be with you and we're excited to turn the corner to a new year. you know, when we look at the auto world right now, what everyone is focused on is how did they catch up to tesla and surpass tesla in their lead in ev, and the reality is that pretty much everybody is going to play catch up to them and at some point, some will pass them. so we think that most of the major auto manufactures will be successful in electric vehicles, autonomous vehicles are right behind it. the one thing that is a defen it derivative in our mind is that tesla is grossly overvalued here at the end of the day it is still an automobile company, it is still going to be dealing with automobile margins, and at
a trillion dollars, in market capitalization, and the other 10 largest competitors combined, this is a stock just gone way too far too fast, and it will come back to earth as everyone catches up with them. liz: is there a point, christopher, where you say okay, at this price, time to get some shares it's down 3% today but if you look at sort of the one year chart it's still rather lofty. >> that number for me is probably closer to 400 or 500 which sounds a long way from a thousand, and it is a long way from a thousand. that's the kind of downside that this name has and as everyone else begins to catch up to it and it does begin to trade as more normal multiples, and potentially for the long-haul, and the market leader, but not when you overpay so dramatically like investors are paying today so we will participate in the short side of the name and we will be willing to buy the stock and buy the company at
such point as it gets to really less expensive than today. liz: christopher give me 30 seconds on didi, that is the chinese ride hailing company caught in the crossfires of the chinese government, champing down on companies that wanted to list globally, its pulled its listing from the united states but what do you see from this name? >> this is a name that's a dominant player in the transportation stage and as mr. buffett is saying when you have a company that's a one-time but fixable problem some of the best opportunities can be created. didi stock has gotten crushed because of all of the regulatory overhang, when this market does recognize the power of the underlying franchise and their business, and the regulatory overhang is lifted this is a stock that could go from four and a half dollars where it is right now easily to 10, 15, 20, or $30. we look at amazon in the tech bubble bursting, the stock went down $0.95 and it was a fantastic buy.
didi will end up being in the same category. liz: christopher zook of caz investme nts trading his opening his trading book for us, with a little bit of a chris-cross play there, didi and tesla great to see you. as we finish up here at what is arguably the biggest news story when it comes to emerging into the new world of covid at the consumer electronics show, the large-scale convention in 2022, you have to be vaccinated and you have to wear a mask and the journalists over the past few days are allowed to do their live hits on the floor without the mask on and i have seen some incredible technology which is where these technological advancements come out. we could not have done it. i could not have done it with my most incredible la and new york- based crew, headed up by big tech head kevin burn, my entire team of 11. i remind our viewers, a lot of journalists backed out. they did plot want to come, we took the risk at fox business
because we felt that we be safe, because we are all vaccinated, and so far, none of us have tested positive for covid, so on that note, the dow has just turned negative sorry about that >> [closing bell ringing] liz: we are saying goodbye from the consumer electronics show in las vegas as we wrap it up for the first week of the new year i'll see you back in new york on monday. thanks so much for joining us, kudlow is next. larry: hello, everyone. welcome to kudlow, i'm larry kudlow. we begin tonight with a real economic declaration from our president joe biden, which we will now record for posterity. please take a listen. >> for too long, throwing around terms like pro-growth and supply side economics to drive an economic agenda that didn't deliver enough growth and supplied more wealth to those who are already very well