tv The Claman Countdown FOX Business October 26, 2021 3:00pm-4:00pm EDT
i mean, july, august, low vix, market's climbing high e. in september, vix rises, and then september sells off. and what happens here in october? the vix imploded. it was a precursor to the -- lauren: and october so far despite it being a scary month if historically. ken, kim, thank you. liz claman, over to you. >> thank you. liz: yeah, we've got confidence back. these numbers on the ticker below us, consumer confidence up for the first time in four months as pandemic fears, at least some of them, begin to ease. that and booming earnings have the dow poised within this hour for its third straight record close. the s&p looking at its second all-time high in a row. that would be the 57th of 2021. and by the way, nasdaq's no slouch, a 37-point gain right now. a new catalyst for -- could be
imminent. a food and drug advisory panel is moments away from voting on whether to recommend giving the pfizer/biontech covid shot to kids. a top expert is here to tell us whether that's the final step to putting a deadly pandemic in the rearview mirror. plus, america's ports resorting to extreme measures to clear out that backlog in the supply chain hanging together by a thread. blue yonder uses artificial intelligence to help major fortune 500 companies smooth out their supply chains. the ceo is here in a fox business exclusive on what he has now figured out on how to get the supply skids greased again. and the world's richest man has about 259 billion reasons to dance, what investors are saying about elon musk and tesla. but first, forget the metaverse where people can
supposedly interact in the digital world, the real world is smacking facebook shareholders right in the face. the stock plummeting to the bottom of the nasdaq 100. right now dropping i want to say about 4.5% right now. facebook did beat on earnings per share, but it also said it's going to bet $10 billion of company money on developing metaverse platforms. ceo mark zuckerberg saying facebook reality labs will enable people to engage online with others as avatars in a virtual world. analysts not quite onboard with that as no fewer than eight of them have dumped a flurry of digital downgrades to their price targets. the stage is now set for google parent if alpha bent and dow member microsoft -- alphabet. microsoft is on track for an all-time record close right now. i believe microsoft needs to close at $310.76. it's at $313 right now.
and, by the way, quite a lofty price to earnings ratio of 35. is new inflation the pe inflation? is that the new inflation? let's get to our floor show traders, the great scotts with what they say are some pe deals. and, by the way, google pe, forward looking, 30. i mean, that is, i guess in this day and age, scott, that looks cheap. [laughter] but it doesn't feel cheap at the moment. >> it doesn't feel cheap, but everything is relative, liz. look, you know, the fact is that when you still are in a zero interest rate environment, where else are you going to turn? the equities market. and the equities market is basically getting valuations that are higher than historical norms because of the fact that people have no other mace to put their -- place to put their money and invest. you can't really put your money into cds, into savings account because the rate of inflation is
beating what you would earn this those investments. so you have to try to look for something, i guess, that's a little more riskier, that's the equities markets, but that's helping to to pell these stocks higher -- propel these stocks higher and raising the valuations, raising the, e. and as these large caps continue to set higher highs and higher valuations, they're dragging up the mid caps and the small caps as well. liz: yeah, you know, that is the question though, scott bauer. do we let go of our discipline and look at companies that are now, as scott fullman says, sort of the new normal and here's where we are and everything's relative, or do you to hold on and really look and dig deep for better and lower p if e ratios -- p if e ratios? >> liz, i think you can hold on and look for those more normalized pe ray chos -- ratios, but you also run the risk of missing out on a lot.
and as scott said, we're in a little bit different, you know, kind of environment right now, and it is all relative. so some of these higher pe ratios we're seeing are, to me, quite justified. visa is one of them, quite frankly. it's got a pe ratio of 40, and in that spacing that seems really expensive -- liz: yes. >> been but i love it. but one that is so cheap ask it's in an industry that we just saw phenomenal results for ups is a company called zim, it's in the shipping and transportation industry. and, obviously, the focal point of maybe the whole economy coming up for q4 and going into the first or part of next year is with shipping and transportation with all the backlogs. they operate out of israel, they operate internationally. their pe ratio is only 3 to 1. now, the offset to that is maybe they're not make any money yet, right? so maybe it's a little bit more risky in that regard, but that's one if you're looking for bare
bottom pe ratio, purely on pe ratio with a lot of upside, to me, that's one you've got to look at. liz: well, guys, nvidia is really perking up at this hour, up more than 6%. that big chipmaker, 88 pe ratio? and intel, because we've got to look at intel too, i mean, that's certainly a story because, of course, it's really been falling it's now down about 2% after a couple very rough days. intel at the moment, that pe ratio is 9. but i guess, scott, that's an interesting point where you look and say, yeah, the nvidia story's better than the intel story. >> well, look at nvidia and see where demand is coming from. ini would ya makes video chips, those are the highest speed processers that are out there. and that is getting the attention of everybody who's doing bitcoin mining. and they want those high-speed
processers. they're taking them from being video, basically video processers to microprocessors to help them go out and and mine for these bitcoins. it's sort of a hybrid situation. liz: speaking of which, we have had bitcoin up 40% this week alone, and it has just been on a tear. yes, it hit very close to 67,000 last week, but at the moment we're still up above 60,000. scott bauer, you looking at any of the crypto names here? >> i do like some of the crypto names, mara and riot, those are two that certainly come to name. but i have to be honest with you, i love the new etf as well because this could have been a classive buy the rumor, sell the -- classic buy the rumor, sell the news sort of event that we could have seen a massive selloff in bitcoin. and, yes, it's certainly --
liz: which new etf? you got bito and then you've got -- >> i'm talking bito which is the one, you know, it's based on cme futures. liz: correct. >> i really think that's an opportunity for people to get into the space, and i truly, and i watch this very closely, i truly would have expected a bigger selloff on that buy the rumor, sell the news event just on bitcoin. so i love the etf, but i really like out of those two i mentioned, i really like riot blockchain. i really think that, again, we can't look at pe ratio on stocks like those, but you look at a stock like that, and there's a lot more upside than there is, you know, possibility to the downside. liz: riot's pe is lower than nvidia's at the moment. we're just trying to let you in on what traders think, depending with on one of the important varying met rakes, the price -- metrics, the price to earnings ratio.
gotta look at tesla. if we look at an intraday, crossing the trillion dollar market cap level monday for the first time ever. so far today shares hit a new record price are of $1,094, then they turned negative, and now they're back up about 1% to $1,036. yesterday the stock soar ised more than 12% on news that hertz announced it has ordered 100,000 teslas to build out its rental fleet. the car rental agency itself rose about 10% yesterday, up another two-thirds of a percent this hour. aiming to reach a 20% electrification rate of its global fleet, and as it does that, its big order 100% had everything to do with tesla's spike, at least in that few-hour moment yesterday. ev makers canoo and workhorse, well, no are moving -- those are moving higher. the trend of abandoning deals continues with draftkings
dropping its $22 billion for u.k.-based entain. it turned its back on the deal despite negotiations. draftkings punching higher by 4%. the stock had father-in-law more than 10% -- fallen more than 10%,, and as draftkings rises, it represents 5% of the best holdings. dan nice appeared right here -- niles appeared right here yesterday to name betts as one of his top sports betting picks, but his big 24-hour winner has got to be the real reel. so on the show yesterday dan picked the luxury retail site as his number one internet pick. he's already sold out of google and facebook. popping 3%, it's been as high as a gain of 7% this session.
raymond james this morning raised the high-end stock to outperform and consignors -- [laughter] the italian look. raymond james giving it a price target of $19. as we speak, food and drug administration advisory panel is debating whether 28 million american children should be eligible for pfizer's covid vaccine. coming up, we're going to ask the hay owe clinic's -- mayo clinic's top vaccine expert is this key to end of the deadly pandemic even as, breaking news, china locks down a city of 4 million. that's happening right now. with the closing bell ringing in 49 minutes, the dow's up trim digits here -- triple digits here, a gain of 100 points. ♪ ♪ flexshares are carefully constructed. to go beyond ordinary etfs.
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down. this as the u.s. hopes to push its vaccination effort forward, and big news could come within the next, i don't know, 40 minutes, we don't know yet. right now an fda advisory committee still meeting virtually. yes, the public can watch it. they're sifting through data and public comment as to whether to recommend that the cdc approve the pfizer and biontech vaccine for kids ages 5-11. pfizer says its vaccine trial this many that group showed 90. 90.7% efficacy in preventing the virus in kids. so for those who believe that children are somehow immune to the coronavirus and that they don't get it, fda officials telling the panel today that covid-19 is now one of the top ten causes of deaths in american children with 1.9 million infections in the key age group and close to 100 killed. ahead of the vote, let's bring in one of the nation's top vaccine experts, dr. gregory
poland. doctor, what are the odds that you're giving to the panel's approval to the pfizer/biontech shot for kids? >> oh, i think it's very likely. in fact, as we are speaking, the voting question is up in front of the panel -- liz: let's put that up, if we can. okay, go ahead, sir. >> you're exactly right. you know, you looked at covid in this country, a quarter of all the new cases are in kids. 130,000 new cases last week in kids. and about 30% of the kids getting hospitalized with covid are kids without any underlying conditions; that is, otherwise healthy children. liz: exactly. i wouldn't debate that at all. my question to you now is just because that is an absolute fact, do you feel that the sample size for the pfizer trial for children 5-11 is big enough? are you confident in the stats
that you got from that that you hope to see, certainly, that it should be approved? >> well, of course, as physicians ask is scientists we always want to see larger numbers. do i think it's sufficient to allow an eua, yes, i do. i think that the balance of benefit and risk tips in favor of granting the eua for kids 5-11. liz: well, let's just put this up because i want our viewers to know, i know some of you are in the car, so you can't see, but it's important to put the banner up that says that the voting is happening right now for this. the benefits, obviously, outweigh the risks, that's what i'm hearing you say. however, there are risks, the myocarditis, higher incidence in males in their upper teens. anything to worry about there? >> yes. i mean, always. whenever you have a side effect, you want to know more about that. and, in fact, even for adults
and older kids the fda has required ongoing studies. that's appropriate. actually, they go out about five years looking at consequences of myocarditis9 and per car diets. but you put that in real estate to covid which probably causes a 7 to 11-fold higher incidence of covid, and it becomes an easier calculus to do. now, one proviso. if this current trend continues where we really have less and less and less cases, then yo reach a point at which you say, well, we might be, you know, causing as much myocarditis as what we see with covid or even less than covid. we're not there yet. but if that scenario happened, that would be a different
risk/benefit balance. liz: doctor, the situation in china, there is a city of 4 million people that has just been lock down. six cases, apparently. is that an overreaction? >> yeah, i think it is. i mean, we certainly wouldn't do that anywhere in the u.s. or in the west. on the other hand, they've demonstrated the ability to do that, to contain these outbreaks and the spread. i mean, think about the early spread in wuhan with a variant far less infectious than the delta variant -- liz: well, i'd rather not think about that. that's where it all began. >> yeah, i think that's fresh in their minds. liz: let me jump in and just ask about this: with children the needles are smaller, and the dose is smaller. we are manufacturing here in the united states and elsewhere syringes and the needles that are more appropriate for this child's dose. do you think that we'll be ready for it? >> you know, i think the plan
has been to be ready for this. i think what really will be the unknown is how many parents are going to take advantage of being able to immunize their kid. obviously, if it were everybody, i think we'd run into some shortages. i don't anticipate anything near everybody. liz: doctor, final question. i don't know if you have children. if you did, if you do, would you get them in that age group vaccinated? a 5-year-old, 6-year-old, 11-year-old? >> i think that i would. and i'm being a little bit hesitant in the sense that my kids were all healthy. they didn't have any underlying conditions. but i think -- and we've talked about this as a family. i think i would because i want to give them, no pun intended, a shot at the normal kind of social life that kids this age deserve to have. and when i look at the risk, you
know, myocarditis sounds scary, but you have to remember that the vast majority of that either doesn't require hospitalization or gets hospitalized for a day as a precaution, no real treatment and resolves spontaneously. and the risk of myocarditis from covid is far higher than from the covid vaccine. so my reticence, if you detect any, would be how much community transmission is there. if it's next to nothing, i probably wouldn't. i'd hold. if it's like my community where there's high to substantial transmission, i shul would. i absolutely would. liz: dr. greg arely poland of the mayo clinic, we're going to keep our eyes on the hearing, we're watching this very closely. tizeer shares moving -- phaser shares moving higher ahead of the news. home sales still near all-time highs. madison alworth is in one of the
hottest markets in the entire country. we're headed to one particular city where legions of americans are now buying second homes. forget first homes, second homes. just so that they can work from home. we'll tell you where and what the rices are next. ♪ ♪ oh! are you using liberty mutual's coverage customizer tool? so you only pay for what you need. sorry? limu, you're an animal! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
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♪ liz: home prices in august rose a staggering 19.7% year-over-year. the case-shiller index which gauges the jump or fall in home prices in about 20 regions in the u.s. says it's the biggest jump ever, just second behind july's 20% record. and it is not just first-time home buyers driving the action. second homes are becoming more and more attractive and in demand as workers now have the
opportunity to do their jobs from anywhere. madison alworth live in one city in florida where it's now the hottest city in an already sizzling housing market. madison, reveal it. where are you? >> reporter: we are inaples, florida, liz. yes, so many people are turning here because it is such a gorgeous place. now that there's no boundaries around work, you can really do it from anywhere. and, of course, this is why people are choosing areas like this. inventory can barely keep up. in fact, it's down 76% from last year. people are buying homes left and right, and this is happening across the u.s. estimate that 60% increase this interest when it comes to buying second homes. and i'm with michelle who's been a realtor in this area for over 20 years. tell me, are you hearing from buyers that they're here not just for their first home, but their second, and why is that happening mow? >> without a doubt our second home sales are very strong, and some of the reasons buyers are
choosing naples would be the high quality lifestyle, the exceptional amenities and the absolutely beautiful sunsets. and so also our outstanding weather. and our outstanding weather enables us to enjoy outdoor activities year round. >> reporter: super hot but beautiful all year round. like i mentioned, it's not just those sales are happening now, but we've been seeing this increase over the last two years, liz. take a look at these numbers. last year this time over 9,000 homes sold. this year, over 15,000 homes sold just here in naples, and the year is not over yet. so you're seeing those buyers come into this market. they love it, like she said. you're about 20 minutes from the beach. just so much space here that you don't get on the east coast. and another big thing because florida obviously doesn't have income tax, but it does have property tax, and that's another thing that is driving people to this coast compared to east coast of florida, you're going
to save hundreds of dollars a year because the rate here is cheaper than miami, fort lauderdale. liz: oh, boy. inventory, i'm sure, is getting thinner and thinner, hadson. thank you very much is, madison alworth. do not miss tonight american dream home with cheryl casone at 8 p.m. eastern followed by mansion global with casey mcdonald only on fb, this prime. check it out. -- nbn prime. -- fbn prime. take a look outside off studios in manhattan, yep, we expect that the winds will really start picking up. you can see the flags starting to wave here. extreme weather not helping the struggling supply chain in the east and west coast or thes. they're now resorting to financial penalties to get goods off the loading docks and onto the road more quickly. blue yonder is the company that helps speed up the supply chain. how can it help when the whole chain seems to be in quite a few
broken pieces? blue yonder's ceo is here. what he's discovered and what's happening now. it's a fox business exclusive. closing bell, 30 minutes away. s&p on track for an all-time record close, same with the dow. nasdaq up 21 points. ♪ ♪ >> my name is jennifer griffin, and i've been at fox news for 25 years. well, it was 2005, and i remember that they were going to evacuate about 21 jewish settlements from gaza instrumeny didn't want to leave their homes, and there was a lot of emotion around this particular event. we were broadcasting live when the israeli soldiers used a sledgehammer to break down the door of a house. when they opened that door, you could hear the sobs of the children. i think it was the emotion of
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♪ liz: the port of los angeles and the port of long beach will now start fining companies that leave shipping containers at marine terminals for too long. that begins november 1st. shipping containers have nine days to be removed by truck, three days by rail. after that time frame, companies will be charged $100 per container per day with $100 increases every day. it is the latest move in an attempt to unclog the supply chain at the nation's busiest ports. and while it has been only one
week since 24/7 port operations were put into place, businesses are still struggling to rebound. enter blue yonder, a supply chain logistics company that uses artificial intelligence and technology to improve the shipping process for some of the world's top brands. let's get to ceo who has seen second quarter revenue growth 49% year-over-year since the heart of the pandemic and start of the shipping supply chain crisis. tell me why companies are flocking to you and what it is you can do for them that hasn't been done by other supply chain companies. >> it's good to be with you again, liz. and let me share real examples with you. a leading liquor/beer distribution manufacturer out there gave us the major, the most significant transformation process of the year award this year, and that's because we helped them identify their upstream inventory, their -- the
supply of elements that forms their final product. and by getting them realtime visibility across shipping containers and fleets, we drove downstream visibility to their channel. electrolux, which builds cooking appliances, kitchen appliances, similar. upstream visibility is at its premium, liz. where are your parts? where are your components if you're a manufacturer in order for you to have finished goods rounded down towards the consumer. so that's an example of how we are helping our customers. liz: some of your customers deal in perishables. albertson's grocery stores, 7/eleven. this has got to be just crushing everybody. and as smart and wonderful as i'm sure your a.i. is, you have to explain to me how you guys are dealing with what everybody else is facing, and that is what has become a much longer supply
chain issue when it comes to shipping. you know, the average 40-day shipping cycle is now stretched to more than 70 days. >> you know, liz, as soon as the pandemic began, there were bookends of the supply chain that we focused on. one end is that we just talked about, supplier parts components visibility. the other unbelievably important area is consumer demand. what are you and i buying on a daily, weekly basis and having visibility of that. and we made an acquisition in july at the start of the pandemic, liz, off a company called yontrixx they provide consumer visibility to customers like with green's and c -- wall greens, cvs, and i'm immensely proud of albertsons and 7/eleven, the grocery, food, pharma if companies who really have been responding to consumer demands across their markets. so really focusing on those two
areas. liz: yeah. but at the start -- you have different problems. at the start of covid, it was unpredictable demand and lack of demand. suddenly there was huge demand for essentials, you know, the wipes and the toilet paper, but there was very little demand for anything that helped fill stadiums and helped fill football fields and things like that, schools, restaurants, because everything was shut down. what are the changes you now see in these unpredictable areas of demand and lack of demand today >> technology is a major actor in boardrooms and with ceos. taking your data that is trapped in multiple warehouses, multiple fleets and shopping centers -- and shop floors off to the cloud and applying artificial intelligence so that you're able to expect or see demand, forecast demand in advance of inventory allocation. so technology's playing an
unbelievably important role here during the pandemic. liz: what have you learned about the aging supply chain? i believe that in the past traditionally, you know, you had to plan 9-12 months out for any type of overseas sourcing and production. to me, that seems kind of quaint and unrealistic. >> you know, or there's a triple whammy, liz. there's the pandemic that we talk about all the time. there's the second force out there which is balancing your supply chain. the china factor, the tariff wars factor where all manufacturing companies, retail companies, logistics companies are looking to onshore and have a balanced, resilient supply chain. and the third and the most prominent over the coming decade is climate and sustainable. when you combine all those three actors together, we are looking at the next decade of companies, commerce, industries relaying
out their supply chain. and what we have learned is agility, agility, quick solutions on cloud with artificial intelligence deliver enormous if, immediate benefits to our customers. liz: no wonder panasonic bought you guys. you, by the way, my friend, have the best background compared to most ceos. [laughter] just plain background. i'm liking the blue stars and all this behind you. thank you very much, and we'll keep watching all that you're doing with the supply chain. >> thank you requester having me concern for having me, liz. liz: president biden has nominated the first woman leader of the ftc. will jessica rosenworcel pass muster with the senate is now the new question. charlie breaks it next. with the closing bell ringing in 18 minutes, the dow is still up 70 points. we are on track for two new records, make it three, because microsoft is looking for a record close too, not just the
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♪ liz: well, a volatile stock is still volatile. former president trump's spac merger with digital merger acquisition corp. is sinking this hour by 30%. it's had a wild run. last week it gained 800%, and then today you see it's taking a breather, it was down 11% yesterday. and there is a little bit of a negative if halo effect. phun ware was hired by president trump's 2020 re-election campaign to building a phone app, they're getting hit to the tune of 40% now. so we do have some short sellers circling, and we'll be watching
these developments very closely. the future of internet regulations hanging in the balance at this hour as in-fighting between progressive and moderate democrats could lead to the federal communications commission moving significantly to the left, embracing -- 'em baggerring -- embracing -- [laughter] which is it, folks? net neutrality among other tough regulations. charlie gasparino, what's the lowdown? >> i hear you put me at this desk away, off the set -- liz: are you scared of mesome. >> -- because you can't stand being next to me. liz: oh, i heard that you were scared. >> one of your producers just told me this. [laughter] the same person who put embarking there. liz: listen we're batting a thousand. >> we're breaking news on "the claman countdown," as always. interesting developments at the
fcc today, and we've been foreshadowing this. part of it comes as a surprise, meaning the appointment of gigi sohn who, in the past, was a telecom lawyer, she was art of a nonprofit that was funded by george soros, weighed in on internet matters. she's becoming the commissioner while jessica rosenworcel, the acting chair, remains chair. now, how does this thing happen? it's a fascinating coupling here. what we understand understand is that progressives like elizabeth warren were pushing sohn, the white house was going to nominate her as the chairwoman of the fcc, and there she is, the afore if mentioned elizabeth warren. and then they got pushback from democrats, moderate democrats. so the compromise was to make rosenworcel the chairwoman, make -- put gigi sohn as a commissioner, and even in that light you're going to have an if
fcc moving dramatically to the left. rosenworcel is not a right-winger, she's a moderate dem. she worked in the senate staff for a while, so she has a lot of connections with the senate. but gigi sohn, from what i understand, is going to have a huge say in policy making. and people are saying if sohn gets confirmed by the senate -- and that's still an if if, rosenworcel will likely e get confirmed easily, but if she does, the fcc moves dramatically to the left on all sorts of matters including how net neutrality is essentially interpreted and, you know, what it means for cable companies when a very strict interpretation of net neutrality gets implemented by a 4-3 democrat fcc, and, you know, does that lead to rate increases. is there -- or, excuse me, is this some regulation of rate increases i mean, how much regulation is really going to be key.
there's going to be a lot of it. if the fcc has any say in mergers, sometimes they do weigh in. usually mergers are handled by the justice department and the federal trade commission, but every now and then the fcc has a role. i think the sprint deal with t-mobile was probably one of those, it'll probably be a no go given where the fcc is if sohn gets approved by the senate. and, again, liz, it's an if. she's very tight with the progressives. public if knowledge, which was her think tank that she worked at last, was funded at least in part by george soros. that does not, that's not going to sit well with a lot of republicans, and if you have one democrat break out and say she's too much of an activist, well, then as you know in the 50-50 senate, her nomination gets nixed. it's going to be interesting to see how fcc regulation manifests itself, if it moves dramatically to the left. obviously, it's going to be a huge difference than the trump administration and, obviously,
if sprint/t-mobile deal got -- was essentially put up now as opposed to during the trump administration, the fcc would be weighing in against it. liz: well, the trump spac, did you just hear that, down about 30%? >> do they need fcc approval? i don't think so -- maybe they do. isn't there a media play in here? liz: yeah, social media, absolutely. >> it'll be interesting. listen, you know, i don't know what type of regulation spacs have aside from the sec, you know, checking the boxes. but if the fcc or the ftc plays a role in any spac that involves media, both of those commissions have moved dramatically to the left, and heir going to want to take the it out on donald trump. trust me on this. liz: charlie, thank you. come down, i don't bite. >> i'll see you tomorrow. liz: all right. remember last week's fight with charlie after the sec report was released?
now he's scared to come town here. well, we dig into exactly what happened and the facts and the questions still out there about the ape investors in the wall street betts reddit room. tune into my everyone talks to liz podcast. let me know whose side you're on, what you think. we really want to know. google, apple, spotify, fox news foxnewspodcast.com. coming up, big cap versus small cap, wait until you see which one has overpowered the other. ♪ ♪ i promise - as an independent advisor - to put the financial well-being of you and your family first. i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, but all of the time.
but with our new multi-cloud experience, you have the flexibility you need to unveil them to the world. ♪ (rhythmic electro rock music) (crowd cheering) - bito, bito, bito, bito! - [announcer] bito, the first u.s. bitcoin-linked etf. liz: we need to look at coinbase right now. it got some love this morning from citigroup but the stock not reflecting it at this hour. citi initiated coverage of the
ex-kang and 415 price target. the stock is down 2% to 319. the coinbase will move into wallets, nfts lending and proactive approach to regulation by the recent push to create a crypto focused financial regulator. coinbase is still up 32% over the past few months. keep in mind at the moment it went public in april. the high is $409. bitcoin is down $238. ethereum higher by just a fraction. litecoin down just a fraction. we do have xrp moving higher by 2%. a buck 11. the race for runup supremacy since the pandemic lows, talking about indexes the nasdaq appears to have the lead. dow up 92% since march 23rd lows of 2020. s&p seeing a gain of 105.
nasdaq up 124%. but the come from behind winner, the little guys, the russell 2000 small and mid-caps with a gain of 133% since the march 2020 low. let's bring in brian smollett. river capital management with some of his favorite names. semiconductor timing company. i looked at this. we were talking about price to earnings ratios this hour, 73, that is kind of rich, is it not but you love it? >> it is expensive at 73 times earnings. what we like in small caps those earnings estimates looking out 12 to 24 months could be really inefficient. this one is inefficient. the whole market of timing device are moving from quarts to silicon. the street has 25% revenue
growth next year growing5% this year. we think that revenue estimate is way too low. liz: i got to know, do they have a competitive moat? i don't think many companies look at their peers, intel, xilinx but i'm not sure that is a fair apples to apples comparison. >> they're the only timing company can do what quarts does or better using silicon. that is why they're growing quickly. comps are there, semiconductor companies don't have products to compete with sitime. why we like it. it is efficient. we mike like the management team. quarts has been low supply because of covid that accelerated market adoption of their products. we think that will continue. liz: we have 15 seconds before we see what appears to be all-time record close for the s&p and dow. what about the russell? you still all in with the small caps? >> we do like small caps.
they have lagged this year but as you mentioned earlier they have been really great since the lows back in march. on a relative basis they're at parity with the s&p 500 and usually that is at a premium. we think that most of those earnings estimates are going to move up for small and large cap. with he own small cap. [closing bell rings] >> we're owning small cap into 2022. liz: drop the confetti. three straight record closes. s&p a record too. ♪. >> welcome to "kudlow." i'm sean duffy. >> i'm sean duffy in for the great