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tv   The Claman Countdown  FOX Business  April 1, 2022 3:00pm-4:00pm EDT

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inflection point. i'm feeling much better about it, i know you are too when you look at your portfolio. it's going to be a wild year. we work really hard for you and, of course, nobody better taking you to the closing bell than liz claman, and she's coming up now. lei. liz: maybe, charles, our number one guest at the top of the show, one of the most widely followed investors in the world, mark mobius, you know him -- charles: of course. liz: he's coming up live. you need to hear what he says. investors at moment not exactly playing the fool, the dow and the s&p turning positive in just the last few minutes after spending much of day in negative territory. investors brushing off a slight miss in the march jobs record. we've got the dow up 84, the s&p up 3, the nasdaq still lagging just by 3 points. you can see crude oil down just under a dollar. we've got the paychex ceo here
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to reveal the hidden gems he shes -- she -- sees in the jobs report. [audio difficulty] liz: -- the global economy. mark mobius, if aforementionedded, one of the world's foremost emerging market plaintiffsers. he's going to tell us if he agrees with larry fink, that the war in ukraine means the end of globalization. and more importantly, we're going to ask for his prediction on what stocks will do in this second quarter. and meme stocks in the spot wright as gamestop gets set to split its stock, and amc has made this dramatic move to diversify. amc's bid e to become a holding company with very unique operations. he's got the inside scoop. plus, the guppy indicator giving
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bitcoin whales the green lightsome we're going to explain it with the ceo of riot blockchain, and we'll look how bitcoin is reacting. will market action set the tone for the rest of the second quarter? we're going to go with impossible to tell at this hour due to major developments in play. number one, russian firefighters, take a look, are still working to douse the flames at a fuel depot in belgrade that russian authorities claim was hit in a predawn raid by ukrainian helicopters. this afternoon ukraine's top security official denied the accusation saying russia's finger-pointing, quote, does not core respond to reality. but but the war theater is still very hot and has the potential to broaden and, hence, gyrate equities. also vulnerable this hour, the march jobs report showed that the u.s. economy added 431,000
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jobs. by the way, the 11th month in a row of job gains above 400,000. but, rather, to all the indicators showing inflation is still sizzling hot. average hourly earnings in march growing 5.6% over last year. great if you're a worker, but at nearly 8% consumer inflation, that's prices on everything from rent to gasoline to groceries is not only outpacing, but erasing hose wage gains. it should say right here that the cpi is up 8, nearly 8%. all right. with stocks coming off the worst quarterly performance in two years, we do have the s&p down about 4.75%. we do have a situation right now where we are looking at what's going on when it comes to all kinds of froth, especially around this: the fox business alert we need to tell you about. gamestop, well, in the morning it was jumping about 15%, but are all the a gains gone in this final hour of trade?
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apes have gone ape for shares, pushing them higher by 15% to open at $189 this morning on news that the darling of the wall street bets reddit room announced a 3 for 1 stock split. gamestop has entirely reversed, down 3.75% to $ -- the company did file that it wants to put up this stock split. we're watching it right now, and it is well off the day's highs. let's take a look at pot stocks, not really getting a buzz this afternoon after the house did end up passing that marijuana opportunity reinvestment and expungement act, better known as the more act. now it goat -- goes to the senate. if it passes, the bill would decriminalize marijuana on the federal level, but we've got aurora down about.75%, til ray down 4%. sun dial clinging to a 1% gain.
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this break news, amazon staten island warehouse workers have, indeed, voted yea to going union. employees at the new york facility voted to unionize. the tally? 2654 to 2 the 131 against. it is the first successful union effort in the retail giant's history. on thursday workers at an alabama warehouse voted against unionizing, 993-875. but with amazon channeling something like 416 -- challenging something like 416 ballots, that that outcome is too close to call. amazon shares slightly higher. take a look at qualcomm. this is an important story we need to show you right now because it is dropping about 4% after jpmorgan removed it and tech stock staple apple off its analyst focus list on fears that smartphone demand will slow as costs rise due to both new lockdowns in china and the war in ukraine with. of course, qualcomm, keep in
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mind, is we could say the number one chip maker for smartphones. so now it's at the bottom of the nasdaq. apple down about two-thirds of a percent. what does the market forebode for the second quarter9 in let's bring in mark mobius who is one of the most high profile investors in the world. he's joining us live right now after spending the day watching -- all of the developments. over the last 11 days we have seen headlines from federal reserve members, and over the last 11 hours, headlines out of ukraine. both bring significant risk for investors. first, let me get your second quarter prediction and guidance to investors right now. >> well, right now it's, of course, a very difficult situation because not only do you have the situation in ukraine, but, of course, you have situations with expected high rates in the u.s. but all over the world or you have a lot of -- to buy constraints. people are having to reshuffle the way they get their supplies,
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the way they get their raw materials. there's a lot of uncertainty. so what we see is that companies are diversifying their sources of materials. and generally speaking, looking at everything they do in a way that prepares for war, way -- basically. it's a very, very touchy situation. liz: well, war, of course. we saw now there is the possibility -- although the ukrainians deny it -- that they finally fought back by crossing the border into russia and, you know, helicopters in a predawn raid attacking a logistics depot that also had some fuel there. we saw earlier pictures, maybe we can put some of those up where the fire fighters in are russia -- listen, russia's already hit many ukrainian fuel depoes, so tit for tat here. regardless, how bad do you see this war affecting what is going on when it comes to the global markets? >> well, it's -- you know, don't
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forget, in a situation like this we have winners and losers. there are some companies that are going to benefit from the fact that russia's not able to sell its goods or services, particularly its raw materials to certain countries. so here in the middle east where i'm sitting, of course, they're going to be in better shape because they'll be in the position to be able to survive the oil, the gas that people need around the world. but more importantly, if you consider that wheat coming out of russia and ukraine is not going to be in supply, countries like egypt are going to be in real trouble unless they can get supplies from the u.s. and from other parts of the world. is so in some ways, the u.s. is going to benefit -- or u.s. farmers and also people in america who are supplying things like gas and oil are going to be in good shape. liz: yeah. well, we do want to point out to our viewers that crude oil is falling in the aftermarket another 1%, and we've got brent down about a third of a percent.
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arbob gasoline pretty much flat. mark, when i look at what's going on back here stateside, we, of course, have to indeed focus on what the federal reserve is doing and what the federal reserve members are saying. you know, weeks and weeks ago before the turn of the year many were very delicate and said, sure, we've got to be data-dependent and, yes, we'll take it slowly, a quarter point here, a quarter point hike there bringing us up off emergency levels. well, in the past two weeks we've had the st. louis if fed if president, cleveland, we pay need to institute 50 basis point hikes, maybe in both june and july. what kind of risk is that a going to add to the market and investor participation here? >> well, i think that, you know, they're being very conservative. i think you're going to see much, much higher rates. just don't forget at the end of the day the way these central
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banks think they've got to make a real rate of interest. and if you consider now that inflation is at 7%, that means that interest rates have to go higher than that. so i think they are being very, very conservative, and maybe they don't want to scare the market. but people on fixed income are going to be in real trouble as these rates go up. people in equities, of course, are going to be in better shape if they have pricing power. liz: okay. that's what i was going to ask. so equities better than bonds no matter what at point. >> exactly. no question about it. liz: okay. it's very hard to read certain sectors more so than others, and specifically i'm talking about chinese stocks. yesterday we saw them, the bottom dropping out of many of them because the sec is saying, you know what? we are going to delist you. they added some new names to that list, because you are not playing with our rules, you are not being transparent enough, and is we need to see you open the week finish books over the
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past three years. dede global up, tencent is getting back up to $10 a share, is this two dangerous to stay in or more of a trader's game? >> we're in a situation now where if the u.s. keeps on putting the pressure, buyers the in america are going to be really scared -- i'm talking about the big institutions -- because they don't want to be in a situation where they have illiquid stocks which are not traded in the u.s. in a liquid way. so it's pretty touch and go. i think the recent bump-up in those prices not because of what bond investors are doing in china, but what the chinese are doing. you must remember that the, one of the top people in china has gone on publicly and said the market should go up. now -- [laughter] that's what chinese investors listen to, and they've reacted and poured into the market and pushed the prices up.
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but we're by to means home free yet. there's a lot more pain coming as we see the problems chinese companies have in the u.s. i would say private investors in america, you've got to be very cautious. liz: very cautious about chinese stocks. i want to ask you one quick last question here. should cash be king? >> no. i don't think it's a good idea to have -- maybe 10, 15% in cash but no more than that. you've got to get into stocks with good pricing power. technology, of course, i'm talking about the people in chips, peep in soft -- people in software, these are the people that are going to do well going forward. any company with good pricing power should do very well in this market. liz: yeah. well, they're being swamped by the higher prices ask and pricing power. mark mobius, thank you so much for joining us. >> thank you. liz: the guppy indicator, it's
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flashing green for bitcoin whales. don't know what the guppy indicator is? we're going to explain the remarkably accurate barometer with the ceo of riot blockchain next. the closing bell ringing in 48 minutes. dow jones industrials gaining about 55 points at the moment. "the claman countdown" on this friday is coming right back. ♪ ♪ if meet jessica moore. jessica was born to care. she always had your back... like the time she spotted the neighbor kid, an approaching car, a puddle, and knew there was going to be a situation. ♪ ♪ ms. hogan's class? yeah, it's atlantis. nice. i don't think they had camels in atlantis. really? today she's a teammate at truist, the bank that starts with care when you start with care, you get a different kind of bank.
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or symptoms or if you had a vaccine or plan to. tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reaction may occur. best move i've ever made. ask your dermatologist liz: we're guessing that a lot of you have never heard of the bitcoin guppy indicator, so we're going to explain it9 to you because it is making a splash with crypto whales. it's a gauge that bitcoin investors use to predict where the digital coin might be headed. now, it successfully predicted the december slump and is now showing a bullish signal for the first time in this year, and bitcoin is responding. it's up about 1% or $541 and change to 46,263. now bitcoin has rally ared 20% since the january low of $35,000, so at 46,263, that's a nice move, i would say. but does the guppy indicator measure the d.c. and texas shark
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effect? let's bring in the ceo of riot blockchain, one of the premier bitcoin miners. jason, how legit, in your opinion, is this gun by indicator? -- given by? it's -- guppy. it's named after an australian trader. >> well, liz,i'm not a trader, much less a technical trade ther, so when i first heard guppy indicator, i had to google what this was. liz: me too. >> right? we are very long-term believers in bitcoin, so we are investing in infrastructure and building up our operations, holding bitcoin on our balance sheet because we see the long-term value implications of bitcoin. so not too familiar with the indicator, but it sounds like they're bullish, and that sounds great to me. liz: all right. well, bitcoin have gone from around january 2nd, 35,000, to what we see at the moment, around $46,299, something like
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that, 229, rather. yes, 229. so talk to me about what you think is underneath this groundswell as of late. >> well, i think it's a lot of hinges that go into it. first -- things that go into it. first, the properties that make bitcoin scarce, i believe, continue to drive value over time. and bitcoin with new supply introduce canned into the market is cut in the half every four years. and the effect of that is actually today the 19th million bitcoin was mined out of 21 million bitcoins that will only ever be made. so what you're talking about is a real scarce asset, something that's provably scarce, and i believe that drives long-term value. the second component is the utility of bitcoin. i think geopolitical events continue to demonstrate use case for a decentralized planning system that does not require third party intermediaries that gives individuals sovereign control over their wealth. and we're seeing the use case in
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realtime now. the start of bitcoin people thought about what the use cases one day might be. today we're seeing bitcoin used to give donations to ukraine, and it's being used to help people fleeing war-torn areas hold on to their wealth. remember in bitcoin you can secure your wealth memorizing the 12 or 24-word phrase in your head crossing borders, and your wealth is invisible to everyone. the scarcity is continuing the drive value, and the use case is being demonstrated, and i think it's causing peopling -- liz: i can't even memorize my if amazon password, jason -- [laughter] >> well, when it's all your money, you will remember very well. liz: yeah, i would hi so.
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can you focus pskically on riot for the moment? you just announced you're going to sell up to $500 million in shares. obviously, that brings down the stock price at least short term because people are worried about dilution. but what is at the heart of this move? >> so we have an incredible team and an incredible capacity to expand our operations at our the facility out in rockdale, texas. bitcoin mining is a capital-intense intensive game. you are competing against minders worldwide to increase your hash rate faster than the global network cash rate. so we have an opportunity to leverage our operational efficiencies and our low cost of power, so this capital raise is part of our efforts to continue to scale our operations, execute on the growth plans we have in place and evaluate a plan that may come in front of us. liz: i get it. i get it. you're a growth company, obviously, you've got to take what you make, and you immediate to find other places where with you can beat the bushes and find other opportunities for some capital. i want to remind our viewers a couple things. number one, riot at the lockdown
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in 2020 was a $3 stock. it is now a $20 stock. so, again, it is something that we've seen is come back after the lockdowns. but we gotta bring up washington d.c. breath warren is now saying -- elizabeth warren, and d.c. hasn't exactly been friendly to crypto. the sec is very concerned about it, wants to regulate it more. but senator warren says it's time to create a u.s. central bank for digital currency meaning a coin that is run by this country. where do you stand on that? >> i don't think that's much different than the dollar as it exists today, and i don't think that addresses any real use case. but as far as lawmaker interest in bitcoin, i can tell you there is a lot of interesting, and we are utilizing this opportunity to tell our story, educate lawmakers and regulators about what's going on, and i think discussions are going to be increasingly positive. the people we talk to are learning about the testimony and the opportunities that
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bitcoin -- the technology and the opportunities that bitcoin mining brings. senator warren sent out a letter to a number of bitcoin mining companies asking riot for information about our operation, and we used that, we looked at that as an opportunity to tell our story which is very positive. so if anyone's interested, our letter in response to senator warren is on the presentation section of our web site at riot we talked about how we respond to demand surges in texas, we talked about how building, capturing surplus power helps renewable generation development, all the jobs we create out there in texas building our operations. liz: we'll be watching it. jason, thank you very much for joining us. >> thank you, liz, for having me. liz: anytime. jason lez of riot block blockchain. the most magical place on earth littered with political land mines as florida's governor
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threatens disney over its reaction to a controversial new law. and now walt disney's granddaughter is weighing in. we're headed straight to the sunshine state for the latest in the feuds over the so-called don't say gay law are. with the closing bell ringing in 37 minutes and the dow still holding on to gains of 33 points, we're going to disney world next. ♪ ♪ your car insurance, so you only pay for what you need? oh, like how i customized this scarf? wow, first time? check out this backpack i made for marco. oh yeah? well, check out this tux. oh, nice. that'll go perfect with these. dude... those are so fire. [whines] only pay for what you need. ♪liberty. liberty. liberty. liberty.♪
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♪ liz: this feud between disney and florida governor ron desantis is heating up over the so-called don't say gay law. desantis now threatening to strip the mouse house of its 55-year-old special status. the 1967 reedy creek improvement act which for decades has allowed disney to operate as sort of an independent government around walt disney world. and that now hangs in the balance. disney is florida's largest employer, raking in $75 billion
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in tourism cash each year with, and the company adds more than 5.8 billion in tax revenues each year to the sunshine state's coffers. the political tit for tat minefield is a real mess for both the state and the company. let's get to ashley webster live outside walt disney world in orlando, florida, with more on the developing controversy including the granddaughter of one of the co-founders of walt disney weighing in. >> reporter: yeah, abigail disney, granddaughter of roy disney who was brother of walt disney, she's been weighing in today in a tirade against what she calls right-wing, anti-woke nonsense. she adds perhaps the right wing has finally bitten the hand that has been feeding it superfoods these few decades, in other words, she's backing disney to fight them on this so-called education law, don't say g a ay. now, florida's republican governor ron desantis digging his heels in p. he says, bottom
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line, disney should butt out, they've crossed the line in the relationship, and that is just not going to work. a take a listen to the governor. >> i think disney has gotten over its skis on this. and, look, there's policy disputes, and that's fine. but when you're trying to impose a woke ideology on our state, we view that as a significant threat. this wokeness will destroy this country if we let it run una abated. >> reporter: well, the governor also calling disney dishonest and hypocritical. case in point, he says, look at the countries that disney is hoping to expand to. north africa and the middle east in particular, algeria, egypt, morocco, saudi arabia. all these countries ban homosexuality. he says disney cruises goes to the dominican republic if which also bans gay marriage. neither side wants to fight. certainly, i think, disney is doubling down. florida fighting back saying it's going to repeal that
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55-year-old law. i don't see that happening. but you were talking about numbers. try this one on. a report in 2019 said that disney has an economic impact on central florida of $75 billion every year. and that includes all the ripple effect, all the side businesses that feed off of disney. also half of a million jobs. and to that point, i've got to tell you, we've been dour here for the last, well, 24 hours trying to talk to anyone on camera about disney, almost impossible. either someone works for disney, their spouse, brother, sister works for disney. of there's always a connection, and they do not want to talk on camera. disney is -- and the state of florida have been hand in hand for over 50 years, so this is a spat. it's not particularly pretty, but i think, ultimately, they're going to find some common ground. liz: well, desantis makes a point. [laughter] i mean, if they're trying to get
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into these other countries, you know, come on. but, of course, we like to hold america to, certainly, a higher standard. it behooves sides to make a deal on this one. ashley, thank you very much. ashley webster. well, disney employees voice their gripes, the rest of the leisure and os bialty industry saw major gains in the march jobs report. the paychex ceo is here next to tell us what his corporate client ares are saying about keeping their employees happy. closing bell ringing in 28 minutes. look at the nasdaq it's down 37 points. not too much, just a quarter of a percent to the downside. s&p lower by 4. could it turn back up to the green? dow is up 33. we're coming right back. ♪ ♪
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albeit slightly lower than the 490,000 economists anticipated. but the real star of the report, how much americans are getting paid over last year. average hourly earnings year-over-year, 5.6% higher, the most since may of 2020, and up.4 of a percent month over month. president biden shows -- says this shows an economic build from the bottom up. >> people are making more money, they're finding better jobs, and after decades of being mistreated and paid too little, more and more american workers have real power now to get better wages and to do what's best for themselves and their families. liz: what about the corporate clients that are paying those wages? we go to the ceo of paychecks, providing human resources, payroll and benefit services to small and medium-sized u.s. businesses. marty, what did you make of this
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report? >> well, i think, like you said, it continues to show strong job growth. this is great. and the wage increases, although they are below the inflation we're seeing, are certainly the strongest we've seen in some time, and we're seeing that as well at the paychex index. close to 5% wage clothe, the strong isest by far -- growth. just last may, '21, we were about 2.7%, now we're over 5. liz: okay. but as wages go up and inflation goes up, what does that say for the businesses that are paying those wages? >> well, it certainly does make it difficult. it's been a difficult couple of years. you have supply chain issues, inflation. you're either going to have to get it back in price or find other ways to reduce costs can and get more efficient. and that's what most of the businesses that we work with are doing just that. liz: what are your clients doing to keep employees coming to them from the job with market which is extraordinarily competitive right now, meaning competitive
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for the businesses because they're trying to get the attention of workers who can now pick and choose because there are so many openings. >> yeah. what you're seeing is not only, of course, competitive from a wage standpoint, but benefits and flexibility are the biggest thing now. we're seeing a lot more of our clients look for retirement plans and set up retirement plans for their employees and make contributions to it. you're seeing much more in the benefits, more health benefits. health insurance even for mauler businesses to try to -- smaller businesses to try to compete. and of course, workplace flexibility, allowing them time to work from home and for flexible schedules are important particularly to the generation today that's moving around from job to job. liz: we got the labor participation rate coming in around, i believe, 62.4. the great resignation, is that still a thing? about eight month toss a year ago, people are saying, i'm done, i'm going to go sit on a farm or do what i really want to do, i'm resigning, i don't need
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this. well, all of the government stimulus has pretty much dried up when it comes to those extra paychecks that people got. what are you seeing when it comes to so-called great resignation behavior? >> you're sill seeing it particularly in that millennial generation because there's a lot of opportunity that's being presented to them particularly this if certain jobs like i.t. and so forth. but i think it is calming down a bit. i think people are getting worried that do i make this jawmp and then -- jump and then maybe this job isn't as good as i thought or isn't as secure as the one i had. there's still quite a bit of turnover. liz: well, you've been a beneficiary of this sphere. you -- atmosphere. what do you think is the number one driver of your quarterly numbers? >> well, sales have been extremely strong. we've had three consecutive quarters of double-digit revenue and earnings growth, and we're seeing strong sales and strong additional taking of our products, you know, from our
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clients that have h.r. outsourcing, it now makes up more than half our business. payroll, we've been in the business for 50 years, but h.r. outsourcing is our fastest growing business because of exactly what we were just talking about. how do i implement business plans, how to i attract and reretain employees. we can help with all that, and we have a lot of technology to do just that as well. liz: well, a happy employee and an employee who gets good benefits is usually somebody who works that much harder. we certainly hope. so at some point hopefully inflation comes down so those wage gains can actually be felt by the workers who are getting them. >> hope so. liz: marty, good to see you. thank you very much. >> okay, thanks. liz: the king silverback has a plan to make amc a titan, but not necessarily in the entertainment world when it comes to theaters. charlie gasparino has new details on what ceo adam aron is now aiming to do to keep the ape army on to offensive.
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charlie breaks it next. and coda won best picture sunday at the oscars bringing attention to the trials and tribulations of the deaf and hearing impaired. i sat down with businessman david lukino, the ceo of a company called frequent city therapeutics, he created it. he's working on a drug that cures hearing loss. a drug, not a, you know, a mechanism that goes in your ear. it's an actual drug. in this week's edition of everyone talks to liz podcast, you've got to hear how many nos he got when he was trying to raise money for this, but he kept on fighting. it is a great american success story, still very much in play. get it on apple, google, spotify, wherever you download your podcasts. closing bell is ringing in 18 minutes. dow is still slightly in the green by 18 points but the s&p and the nasdaq just a little bit in the red. stay tuned, we're coming right back. ♪ ♪ (vo) while you may not be running an architectural firm,
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liz: breaking news, we need to take a look at blackberry shares, they are suddenly down about 10.75, on track for the biggest one-day decline since june of last year. the canadian technology company's fourth quarter report did come in this below estimates with growth at blackberry's cybersecurity business flat. year to date blackberry is down 29. all right, just days ago amc chief adam aron announced plan to transform the company's business model by seeking more meme tock-powered deals. amc, of course, has become one of the big two faces of the meme stock phenomenon right next to gamestop. amc entertainment, the big neat orer chain, shares are up more than 56% -- theater chain -- with the news that the company
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would acquire 32% of nevada gold and silver miner high croft -- 222%. who can predict -- 22%. charlie gasparino. >> here's what we know, by the way, i'm getting some interesting commentary on my tweet -- liz: why do you even look at that? >> you're a clown, charlie gasparino. sad to see the apes even felt sorry for you. you're a disgusting human who deserves no sympathy -- liz: you did get some numbers wrong yesterday, charlie. >> which onesesome. liz: oh, you got the gold, we got the shaft, as if the shareholders. since that deal was announced, stock has -- >> how do you know it's going to be long-term good? liz: well, how do you know home depot's acquisition of a certain company -- >> well, home depoe generally buys nailses and and home fixtures. adam went out and bought a gold mine. liz: okay, well -- >> i'm going to give adam the
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benefit of the doubt here because he has made money off this deal, flight and, you know, he was a whole business model that they think this deal because they bought it at such distressed levels that this is going to work out long term, okay? here's what's interesting about that deal in the context of what's going forward. what fox business has learned is adam aron is going to go to his board and say we want a shift in our business model. we're not getting out of the theater business. we do recognize it's going to be very tough going forward not just because of covid, but, you know, streaming and all the reasons why people are basically staying home is and not going into the movies. therefore, we need to diversify. from what i understand, what sources are telling fox business network, is that he's going to go, he plans, okay -- i'm not saying he's going tomorrow, but he plans on going to his board and say i would like to make five or six deals like high croft -- hycroft mining. the numbers i hear are $100-2
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the 00 million to make deals like hycroft which we think buying it at distressed levels, we can make money in the future because with we think hycroft is going to be a no-brainer, we're going to make a lot of of money on this in the future whether we sell the land to somebody else or we keep it and we get financing to drill the gold out because we believe there's deposits there. this thing is worth a lot more than the pennies on the dollar we bought it at. it's already trading up, as you know. liz: well, let's just be clear, today bought it -- when they announced they bought it, it was $1.39, it has jumped by 79%. >> just remember that a little bit of that is irrational exuberance. that's not the long-term play he's talking about. the long-term play is they sell it to somebody who extracts the gold or actually get financing to extract the gold, and it's worth much more than the $1.50 or whatever he paid for it. but the bigger story is amc is
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recognizing the movie theater business is going to be tough, they need to diversify more than just selling popcorn at the malls. they're going to do -- at least adam wants to do, adam aron, the ceo -- distressed investing. and it's going to be, from what i understand, he's going do the board to do between 1-200 million of this, maybe more. he's talking five or six deals. it's very interesting. i will say about him, okay? aye covered every major ceo, jamie if die month -- jamie if die month, larry fink, david solomon, i've never met someone as resourceful as this guy. he is resourceful. he is fighting, he's fighting back. and what's interesting about him is, from what i understand -- and, you know, we have a call in to amc spokesman, he has not gotten back to us -- he's looking at it like this: i'm pretty good at distressed investing because, guess what? i bailed us out.
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he believes that even before the apes came, now, the apes obviously bought the stock and gave him currency to do, essentially, secondaries and a all that. but even before that he believes he saved the country from -- the company from going into bankruptcy. he prevented amc from going under -- liz: because, of course, in the lockdowns every theater was shuttered, and he went from revenue to zero. >> okay. so now he believes he's pretty good at this whole notion of saving companies. what's a company worth saving. he's going to use those skills and the skills of his management team which, obviously, have been through the wars right now, to find these distressed investing. so how do you play the stock? i don't tell people what to do. there is no -- i don't believe in the whole notion of the amc mother of all short squeeze. by the way, adam aaron does not believe -- adam aron does not believe in synthetic shorting hurting this company. that is a conspiracy theory. take that out. why would you buy this stock?
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there's two ways -- or sell the stock. one way to look at it, it's bad because, guess what? adam aron is admitting that theater business is going to be tough no matter what. it's going to get better, but it's going to be really tough going forward. but also he's admitting he he survived the worst of it, he's got 1.8 billion in capital, he knows how to do distressed investing. the hycroft deal is definitely going to pay off. that's a positive for the stock. so it's up to you to figure it out. of just don't buy thinking this is going to be the mother of all short squeezes. liz: i'm so glad that after shooting from the hip and missing your target, you're coming back with some numbers, because right now -- >> the stock is down. you're wrong about this. liz: the stock is up 80 over past -- >> traded at 30 early in the week, now it's at 20, 22. 23. liz: when hycroft announced, it was at 13 if.29, and look where it is now. what part of the up arrow do now
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not understand? >> [inaudible] liz: we're talking about now, charlie. >> be careful -- ♪ ♪ she always had your back... like the time she spotted the neighbor kid, finish finish ♪ ♪ ms. hogan's class? yeah, it's atlantis. nice. i don't think they had camels in atlantis. really? today she's a teammate at truist, the bank that starts with care when you start with care, you get a different kind of bank. 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. visit
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liz: we are three minutes away from hearing the closing bell. market gaining steam in the final moments of trade. the dow is about to snap a two-week winning streak. the nasdaq and the s&p make it three in a row. we have the doubt down just ever so slightly for the week. let's bring in 1.9 billion access management founder and ceo who is looking specifically as a real opportunity and that is precious metals but not gold. you specifically looked at platinum and palladium which are russia, ukraine, global, auto industry, it's a way to invest in autos without investing in auto companies. >> that's right. one of the stories that spend
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less publicized in the likes of oil with all of the news about russia and ukraine. we have got to remember that the autos are also a huge story and suddenly palladium and platinum are in the converters for all these vehicles in the town they clean their missions. russia is the biggest producer of the platinum and they think this is an interesting area of the market and little bit overlooked. rosanna: let's focus on palladium for the moment. it goes into catalytic converters to help them convert, 2273, we are off the month hi but if we stretch this picture you can see where we have been and tell us where we are going. >> i think palladium prices are taking a breather because they went up to an all-time high on the back of the russia ukraine situation and that was because of the supply situation and the
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disruptions being that russia's largest producer. the prices are coming down and the reason for that platinum is able to be substituted one for one for palladium and catalytic converters or cars. if you are not a maker and you can buy platinum at a third of the price you will probably think pretty hard about doing that. liz: the auto stocks have a whole bunch of challenges that ship makers are slowing things up because they have supply chain issues that how does this fit into the bigger picture as we head into the second quarter. >> the bigger picture this is all part of the inflation story that has really been with us at the beginning of the year, but it's just exacerbated through the crisis in europe and we are seeing massive increases in commodity prices across the board. take a look at where we are we close that much of march 1 of april today. a quarter was down for equity market were down for stocks.
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the best-performing in the market you can about commodity. it did not matter what commodities you bought they all went up. >> you going with platinum and palladium and there are etf and that's how people might want to sit her. it's great to see you, thank you so much, we close out the week with the first day of april and the first of the second quarter of little bit of green on the screen the dow is up 132 points. have a great weekend. >> hello everyone welcome to "kudlow". i'm larry kudlow. you can tell a lot by looking at the nation's currency. country with chronically weak are almost always weak countries. week at home in week abroad. here is what's troubling me. in recent weeks the russian ruble has been rising, that cannot be a good sign, before the invasion, 79 rubles bought a dollar


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