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tv   The Claman Countdown  FOX Business  March 22, 2021 3:00pm-4:00pm EDT

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>> i do. it's a longer discussion for next time, but, you know, for people at home with your hard-earned money, don't put money to work because some famous person who made a lot of money says to do it. do a little homework, a little research and invest for the long term. charles: mike, i owe you a lot more time next time. i've got to hand it over to cheryl ca sonny who's in for liz claman, buckling it up for this last hour of tradingment. cheryl: we're turning a corner. i don't know if it's the first day of spring or the market turning around, feeling good. charles: all of the above. cheryl: yeah. take a look at this, the last full week of march with a rally aztec stocks are powering the nasdaq to its biggest gain. the dow up 167 points, we were down earlier slightly. s&p is up by 40. nasdaq, we're up 232 right now. we're just barely off of session
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highs for the nasdaq. really need to push high right there. we're going to keep watching these numbers as we move into the close. big story today, gotta be tesla helping to lead the charge with arc investments giving the ev maker a doozy of a price target. the floor traders are going to be here with their reaction to the numbers. plus, today's rally coming as a fourth coronavirus vaccine is on the horizon for us. but one company is working to make sure that none of the current shots out there go to waste. we're going to introduce you to dr. b. and his covid-19 standby system. and done deal, twitter cofounder jack dorsey's first tweet ever sells for, get this, millions of dollars. we're going to talk to the cofounder of cent. that is the company that hosted the sale about the record-setting transaction and the explosion of the nonfungible token market.
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it's a first on fox business. ♪ cheryl: let's take a look at this stock, look at tesla. the stock is up about 5.75% right now, it is powering higher after gaining a very lofty new price target. get this, arc investments' kathyed wood, she gave the ev maker a $3,000 price target by the year 2025. that would be, let me do the math here for you, a 359% upside. arc's previous target price was $1400. she was saying the stock was going to hit that by 2024. we're at 692 and change. you can see the potential upside here. but let's talk about this. what is behind the price target bump? well, arc says, she says there's a 50% chance that the ev giant is going to go fully autonomous within the next five years, and that will allow it to launch it robo taxi service. forecasting tesla is going to
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sell between 5-10 million vehicles in 2025. a lot to unpack today. let's bring in scott redler and phil flynn. and, scott, i want to start with you. what do you make of this new price target for tesla? it really was a jaw-dropper. do you think this stock could actually hit that target by 2025? >> listen, by 2025 a lot has to go right, and i think the last time he put a price target out there a year or so ago, it was also a jaw-dropper, and it actually went above and beyond. so at this point, you know, if you're an investor in tesla, you already believe in the story, and if they can go fully i autonomous, i do think it's a viable business. i know a lot of friends that have a tesla, and they actually let the car drive. it actually has a really cool system, and there's this thing called buy my car which pulls out of a spot and goes to them waiting outside the restaurant. if they're going to be working on that, i'm not going to argue with them. but a shim active -- i'm a short-term active trader.
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most of this year there hasn't been momentum. at this point it definitely seems like it's a bit more constructive. a week or so ago it felt like we had a reactionary low, and i've seen an inverted head and shoulders pattern which is technically positive right now. some traders are trying to get an intermediate move, and if tesla can get above 700, 714 in the next few sessions, i think it opens the door for about 800 in the weeks ahead. but as far as 2025, i'll let kathy do that. cheryl: your opinion of the fact that this would actually give it a valuation that would be larger than apple. apple would even have a difficult time keeping up with that cupid of a percentage gain -- that kind of a percentage gain year-over-year. and to your point about the cars, just a note of caution, there are some investigations about the self-driving autonomous software in the cars. there's been some messes. so i've got to throw that out there. at the same time, scott, you have to say that tesla, betting
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against elon musk has been a losing bet. >> yes, it has. so i think you better stay on the side of the bull case. but do it in a way that's responsible. if you're long term, know your long term. if you're short term, you've got to watch the technicals. as far as 2025, who knows where apple will be. from here to there, you know, it could also be double or triple in a market cap than we are right now. so it's not a fair comparison. but i do think, you know, both could win over the next multiple years and wouldn't be bad having a little bit of both in a long-term portfolio. cheryl: and even this year wells fargo coming out with a note saying this rally has room to run, which would make 2021 look a heck of a lot brighter than maybe we thought it would at the beginning of the year. and there's some of the competitors against tesla, and all of them are higher, basically, on that call from kathy wood. phil, i want to move on to you with some other stocks that you think could be along for the ride if tesla's moving higher.
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this could also be an american automaker story. >> it really should be, you know? and you talk about one american motor company that's moving their new factory to mexico, hey, how about that ford? thanks a lot, guys. have to bring that up. but, you're right, listen, i was a believer in tesla a long time ago. i sold more cars than tesla did, you know, i've been in and out of the stock, i'm back in it and i'm very happy with its valuation. if you look at the electric front, you've got all these cities, now california saying they want all electric cars by the year 2030, you really are to look at the other side of this. how are we going to charge all these electric cars on the power grids right now? i think one of the things we've talked about, you know, cable companies and different energy infrastructure stocks but also the power generators which actually got beat up really bad because of the texas power crisis. one of the buns that i like is -- ones that i like is rg
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energy which took a huge hit of $780 million because of the power crisis. but i think that stock because of the selloff is a long-term buy with. prior to that crisis, they were doing all the right things. i think they're getting ready to move up to the next echelon, and duke energy, you can go down the list, a lot of them are going to do very, very well because they're the ones that are going to be powering that. you're taking the power away from the big oil and gasoline companies and the refiners, talking some of that profit, put it into the electricity companies. they're going to be the ones that benefit as we go more electrified. cheryl: my grandmother held utility stocks until the day she died, and she was 86. then she left them to me. so you don't have to sell me. i know we've got to run, but they have a really interesting consumer business, phil. you should check it out. check out the consumer offerings and let me know what you think. >> i will. i can't wait. for sure, thank you.
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cheryl: phil flynn, scott redler, thank you to both of you. appreciate it. well, the twitter auction of the century has now closed. jack dorsey's first-ever tweet was sold just after noon today for over, get this, $2.9 million. to the user sinai sagi. that is now the proud owner of the nonfungible token. dorsey says he's going to take the proceeds, convert them into bitcoin, then it's going to donate the crypto to a charity in africa. it was hosted on the platform valuables by cent which allows anyone to put up their own tweets for sale. and we welcome one of the cofounders of cent. it's great to have you here, sir. >> yeah. really excited to be here, thank you. cheryl: were you just shocked by the momentum that this whole auction took on? because, to be frank, i mean, the tweet's been out there, you
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know, since the beginning of twitter, and it's been online. what makes it so special and valuable? i think a lot of people watching don't quite get the attraction of owning a tweet for $2.9 million. >> absolutely. i mean, every day moments are created on twitter that are talked about throughout the world, and i think that there's just incredible inherent value there. and so for the first tweet, the tweet that really started it all, i think it's just an incredible opportunity for someone who wants to associate themselves with a truly transformative piece of history. and so i'm, my congratulations goes out to winning bidder. it's truly incredible. cheryl: do you think this is going to lead to other notable tweets being sold in this fashion? because, you know, the doubter in me, okay, this is a bubble, this is just, you know, 2000 all over again and the tech bubble, you know, and people are just kind of chasing whatever they can. another part of me says that who
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knew bitcoin and tesla were going to be the hottest things we'd talk about in 2021. >> totally. i mean, traditionally content has always been free on these networks, but you look at how ad models work, and that's the predominant way of valuing things. and what we're seeing is fans actually ascribe value to things on their own basis, and this is just the start of that. so i think jack did a great thing by donating the proceeds to charity, and i would encourage other notable figures to follow a similar pattern. a lot of people might not need the money, there are people who would need the money as well. so i want us to make this a technology that can work for anyone in any case and bring people together, ultimately. cheryl i want to give our viewers a couple of examples because a lot of folks are thinking what the heck is an finish ft. elon musk, okay, this tweet from october of 2019, someone offered $2,000 for an elon musk tweet. i don't know if we have it. and then there's mark cue banger
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there's a picture of him with warren buffett at dairy queen. somebody offered $220. so there's thousands being offered, hundreds of dollars being offered. do you think that this is the next charity wave? i guess it's because it's rare, right? a digital signature from the if owner, say mark cuban, so that makes it special? >> totally. i mean, collectibles aren't a new thing. i think what is new is bringing collectibles to digital moments, right? and so, you know, mark cuban or whoever, i'm sure that, you know, they're going to put the money to good use whether it's investing or giving it to chair ity. but i think the point is a lot of people are involved in these moments that are happening realtime x these moments have value. and to be able to get an autograph from mark cuban is definitely a special moment for a lot of people. cheryl: you know, interesting because, again, jack dorsey took the payment, it's going to be in bitcoin. does everybody have to take bitcoin for this?
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could it be cash? >> so actually right now we're using etherium which is bitcoin's big competitor, and that's because the whole platform runs on smart contracts which is a whole new technology which is going to disrupt a lot of how tech works, frankly. che cheryl right. >> and i think over time we want to accept other currencies like bitcoin, but also u.s. dollars and credit cards, more traditional payment methods. cheryl: i've got jerome powell in mind because he actually spoke specifically about bitcoin today, and he was pretty cautious which i guess you could imagine. but i want you to listen to what he said when asked about how this could work if we were to have digital currencies as part of the federal reserve. >> so we're collaborating with mit on a multiyear effort to build a hypothetical digital currency for central bank use. the bottom line is to move forward on this we would need buy-in from congress, from the administration, from broad elements of the public. and we haven't really begun the
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job of that public engagement. cheryl: i want to adhere he also said cryptocurrencies are not really useful stores of value. your reaction. >> look, our big thing as a company is helping creators get paid whether that creator is a public figure or an artist, and cryptocurrency is the easiest way for us to do it at this point. there's a lot of regulatory compliance work that goes into accepting and transacting, and we definitely want to take that on. we're not diehard believers in crypto the for payment, but nfts and the technology that they rely on is fundamentally a blockchain native technology, so we definitely are believers in that long term. cheryl: it is fascinating, whats' happened with this jack dorsey tweet, and i'm curious about the next one we're going to be talking about. cameron, thank you very much. great day for you, congratulations. >> thank you. thank you. cheryl: well, the gamestop
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rebellion still sending shock waves through the market, but could 500 more gamestop-style short squeezes be in the works? charlie breaks it coming up next. the closing bell rings, we have now got about 46 minutes to go. we have got the dow at 32,805, up 177. "claman countdown" coming right back. ♪ ♪ ♪ limu emu & doug ♪ excuse me ma'am, did you know that liberty mutual customizes your car insurance so you only pay for what you need? thank you! hey, hey, no, no, limu, no limu! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
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♪♪ cheryl: gamestop was one of the most notable short squeezes in recent history. and it may have started a trend with many more short squeezes to come. charlie gasparino joins us with details about what companies might want to, i don't know, who needs to duck for cover now? >> cheryl, it's great to see you. you know, there's a whole side business of trying to identify companies that are ripe for short squeeze like a gamestop where short squeezes, when there's heavy short volume, very little flow which means not much outstanding shares and, essentially, there's so much shorts, it's shorting -- the percentage of, the short percentage is higher than the
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shares outstanding. by the way, that's not illegal. that can happen. it's not, it's not as big a thing as you think. but it breeds a situation where the short squeeze where, because in a short sale you borrow the shares, you sell them, you pay them back later hopefully when the shares go down, you pocket the difference. but if the shares go up, you lose money. and if there's a short squeeze, you have to pay up for that, and you could go out of business as one hedge fund did. so there's a huge market out there for identifying these potentially, these companies that are ripe for short squeeze where the shares will go up. and if you're long those shares, you could make a ton of money. one company that's providing that sort of interesting research is called s3 partners. they've been around for more than a decade, and they're very good at sort of crunching numbers and in terms of trying to figure out which of these stocks are the most vulnerable. i spent some time with executives there today.
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here's what they told me. they have identified across the globe 500 potential gamestops. now, that doesn't mean we will get a gamestop in 500 shares, but there are 500 companies, global companies, that have ripe for -- that are ripe for that. who are those companies? i don't have those names right now because, apparently, it's going to be published in a white paper that i'm about to get soon. and, which they're going to release at some point. at least that's what,ting tyes there told me. i spoke with them this morning. they're going to publicly release this stuff. and when we get this, it'll be an interesting -- it'll be really interesting to figure out why, you know, who these companies are and, you know, why this is going on. you know, i asked them when i was talking to them, is this because of robinhood? it always comes down to robinhood and because there's all these retail players out there looking to create short squeeze, creating bull run, heavily shorted stocks that maybe some sophisticated investors think are going to go
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down in value. and, you know, he said people were more like maybe many, but, you know, this is something that hedge funds do all the time. it's not just robinhood investors. he pointed out that the short squeeze on gamestop hurt some hedge funds, but there were hedge funds participating in that squeeze. sophisticated investors were a part of that, not just a bunch of guys in their mom's basement trading on a robinhood account. cheryl: yeah. >> and one of the reasons why is they can afford research that comes out of places like s3. and so be prepared for that white pauper to come out. -- paper to come out. it's ironic that it's come out a day before gamestop is having quarterly results tomorrow, and that's going to be a story that's fascinating for a lot of reasons. i think they're going to have to explain, if they're such a great company and their stock is trading, i don't know, around $200 a share today? cheryl: 192, yeah. >> yeah, okay. so they were a penny stock in the summer. if the company's so great, why
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respect they raising capital? what's going on over there? what's the business plan? that's a separate story than this, but it'll be interesting. and in a sense it's all related. were the shorts ultimately right but bet a little too soon and went a little too, engaged in too much risk where they can get crushed? their overall thesis is right, that gamestop -- a company that shows video games in malls -- doesn't have a great future? we'll find out a little bit about that tomorrow, cheryl. cheryl: the hedge funds that were shorting, i wish i was inside a hedge fund right now to find out who or they shorting because that seems to be the other side of the play. >> they're describing it as a white paper. i guess that's a fancy name for a research report. [laughter] the white paper they're about to put out, we're going to get some names of companies that are ripe for that based on short interest, based on float, based on, you know, several factors. i mean, they have a whole matrix that they put in.
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it's not just short interest and float, there's a whole -- there's other, there are other factors that go into it that made gamestop unusual and, apparently, these 500 stocks in the whole universe of stock particularly ripe for short sell. cheryl: come back when you get it. i'll be waiting. charlie gasparino, thank you. good to see you. charlie likes baseball. well, he likes football more than baseball, but opening day is just over a week away. it's already shaping up to be a grand slam for the bravest of businesses in the sunshine state. we are going to take you live to the spring training boom town. that's coming up next. closing bell rings, 27 minutes away. dow up 161 points. we'll be right back. ♪ ♪
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cheryl: kickinging off pop stocks with a bang on this monday. is skyrocketing after the cloud-based soft square services provider merged with bitcoin miner greenage generation holdings. that is a stock for stock transaction. it's a reverse merger, if you will. greenage says it's expecting to be the first mining company with it own power plant. that is up, as you can see, 228%. all of this as bobby lee predicting bitcoin could surge to as high as $300,000 a coin based on historical trading patterns and over $100,000 by this summer. kansas city southern surging after the railroad operator was acquire for $25 billion in a cash and stock deal, the first railway spanning north. kansas city southern jumping almost 12%, canadian pacific railway is down almost 5%. and automaker solantis says a
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global semiconductor shortage is going to impact construction of its popular pickup, this as the wrangler magneto is unveiled, a lot of excitement about that. down more than a quarter of a percent. let's take a look at chip equipment merricks at this hour. asml holding, kla, applied materials, they are all actually higher right now. in particular you can see applied materials is almost 4% higher, and asml is up about 5.25%. well, small towns across florida and arizona were devastate thed when covid-19 abruptly ended spring training last season, not to mention all the towns and cities that lost the entire minor league season. but one year later here we are, baseball is back. we're just nine days away from opening day as we head down to atlanta braves spring training in northport, florida. we're finding connell mcshane who, apparently, is on spring break himself connell. >> reporter: yes.
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no doubt about it, cheryl. you're so right about those towns in florida and arizona that are so reclient on the teams. and -- relieutenant on the teams. and and this is some spring training facility. it cost $160 million to build. you get a look at it from up above, it spreads out over, like, 90 acres. gigantic. that's our fox business drone flying above it the other day. but the braves had their first year -- their full year cut short by covid last year. then they come in this year, and they have a full slate of games, but the crowd is limited in terms of capacity in the stands, and that's where we pick up the economic story. the plan all along was to help this area in sarasota county with what they call a live-work-play community. take a listen. >> you're able to live, work and play within a community that you can ultimately walk the sidewalk, take a bicycle, ride a of golf cart and do all that within the community. and the stadium is the
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centerpiece of that. >> reporter: and mike dunn, the braves e a' executive you heard there, talking about golf carts. funny enough, that's one of the local businesses we checked in with to try to gauge the pandemic impact. richard sells and rents the golf carts locally, and he wants to be excited about the future with the braves. >> i'll be excited when, one, they're accepted as part of the community totally. that's kind of hard with covid. the stadium was behind schedule, so we missed the opening and then covid hit. is so really we don't know what the impact totally is going to be, but it's going to be positive. it's a huge asset to the community. >> reporter: and the is next year this place, indeed, will be packed all spring, and the area will get a big boost from that. but it shows the pandemic impact, right? two baseball seasons already affected, and that tricklings down to so many of these local businesses. cheryl: isn't it true that baseball teams, the biggest revenue generator is fans going to the stadiums versus, say,
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football which is more tv advertising, isn't that true? >> reporter: it definitely is a split between the two sports, that football makes much more money off television. not to say baseball doesn't, and especially in their regional television deals, many of the teams do quite well. but you're right, the turnstiles make up a lot because think about it, as a major legal team, you're playing 81 is games a year, forget about spring training. that's a lot of gates and a lot of money which they won't have the full effect of at least for part of the year. cheryl: at least it's back. connell, great job. thank you so much. enjoy the sunshine. >> reporter: all right. [laughter] cheryl: well, president biden saying that there is going to be enough vaccines for every american adult by the end of may. but for those of you looking to get one right now but you still are not technically eligible or maybe having trouble with the web sites, we've got the site that you've got to see.
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dr. b. created the ultimate vaccination standby list for those that are willing to drop everything at a moment's notice. closing bell rings, we have now got 28 minutes to go. the dow, the s&p and the nasdaq all in the green. we're closely watching -- by the way, the dow is still pushing session highs. 1.5% jump on the nasdaq today, that is the yields story, inflation story. we'll talk about it later on. we'll be right back. ♪ ♪ ♪♪ you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. what matters is you're down. and there's nothing down there with you but the choice that will define you.
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dependable gold distributor. ♪ cheryl: so in covid-19 news, new yorkers 50 and older are now eligible for the vaccine. that starts tomorrow in new york state. plus,es astrazeneca plans to file for emergency use authorization with the fda next month after a phase three trial for its vaccine candidate. with the fourth vaccine potentially in the mix in this country, supply shortages should
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ease, but until then how do you solve the problem of the doses out there right now that must be used within hours of being taken out of cold storage, excuse me, or they end up in the trash? well, enter dr. b. it's a site that aims to pair up vaccine providers stuck with leftover doses with people who can show up at a moment's notice to get one. more than 2 million people have signed up so far. i want to bring in cyrus, the founder of dr. b, and also you were the founder of zocdoc. it's great to have you here, sir. >> thank you for having me. cheryl: you were telling me in the break that you've got about 300 providers now that have, that are willing to work with you. how fast do you think you're going to be able to ramp up your site and sure service with 2 million people ready to go for that standby shot? >> you know, we are going as fast as we can. we are currently live with dr. b in three states, new york state, california and arkansas. we hope to add another nine states this week, and within the
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month we hope to be live everywhere in the country. cherls cherls explain how this works. the web site, i go and sign up for it, i give, i'm assuming, a lot of personal information which i want to ask you about. but do i get a text message? do i get an e snail a phone call if, say, the pharmacy town the street has an extra dose? >> it's all text message based. the vaccine provider indicates the number of doses they have, and our system will text message the number of people to make sure every dose is maximally allocated in the most on optimal way. we make sure that the people receiving the alerts are the people at the highest levels of local government criteria, and we keep going until every single dose is spoken for. cheryl: how successful has it been thus far? did 200 extra people get a dose because of your site?
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300 people? where are we? >> we are sending more and more alerts every day. i don't have the exact number for you, but i can tell you 100% of the doses we sent out have been a allocated, and we've done so making sure the most vulnerable populations are getting notified first. it's filling in a big gap that we're happy to help out in this small way. cheryl: we've seen all the national, you know, pharmacy companies actually now, you know, walgreens, cvs, safeway, duane reed, they're all offering vaccines now. are you working with those companies? >> we've used, we've onboarded all different types of vaccine providers at this point. so we've started with pharmacies. we've done a mass vaccination site and most recently have done another local government site. is so we've got the full spectrum of different
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vaccination scenarios. this is very easy for them to use. they don't have to integrate it with anything. all they need to do is give us an indication of their location. once we've verified it's valid, they can use it, and it takes literally 30 seconds. and this solves a huge problem for them. as you know, you may know, patients are canceling or no-showing 20-30% of the time. and that's only increasing as the vaccine increases, and given the scarcity, the most scarce resource on earth, we want to make sure it gets optimally allocated. cheryl: that's pretty high considering this is truly a life or death situation. some people might be worried about privacy. they're obviously going to be giving you personal information. can you tell us right now that folks' information is going to be secure, their medical information? >> absolutely. as you anticipated, my background has been in health care technology for many years, and at zoc, the -- zocdoc, we
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saw many of these issues, a joint venture between amazon, berkshire hath and jpmorgan, so we used the highest level of information protection and what we commit to our patients is we will only use information that they give us at their direction. and we'll ask for their permission at, whenever it's going to be used. so they have to actually opt in to receiving -- to sending their information to the vaccine provider, but we don't give it to them -- we don't pass the information along unless the patient actually gives us their consent. cheryl: also you're a for-profit company, correct? it's a shared private -- explain it to me. >> yeah. dr. b is called a public benefit corporation which is a corporation built for the public good. cheryl: okay. but it's still a for-profit company, so there could be revenues, growth, there could be an expansion of your company
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like you did with zocdoc. >> right now we're just heads down trying to yet it rolled out across the country and across the world. the entire world did not expect to be vaccinated until 2023, and there are 2500 known variants, many of which we're hearing dr. fauci talk about publicly are not as, the vaccines are not as effective against some of these variants. so we are not going to be safe, our families, our country will not be safe until everyone's vaccinated. so we're just heads down, trying to get dr. b rolled out across the globe. cheryl: it's a very needed goal. there's storieses of people because the vaccine doses were expiring folks were walking up at the end of the day and saying do you have any extra, absolutely, we do. dr. fauci spoke about an hour ago, and he made these comments that the cdc is now going to give us new guidelines for those people that are vaccinated.
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for folks that are walking around that are vaccinated, is it life back to normal? is it -- i know we still have to wear masks in public places, is this going to work? and that the cdc is again going to revise the guidelines for vaccinated people? >> we're building a plane and flying it at the same time from a public health perspective. i know dr. fauci and his team, they're just working as hard as they can. and in many respects as we learn more, we're trying to rope the world, obviously, reopen our businesses, etc. but the reality is that these, the virus is mutating, and i'm sure what they're going to be suggesting are things that enable us to return to life as much close to normal as possible. but i don't think a full return to normal still is sometime
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away. cheryl: well, hashtag, get the shot. that has been treapped trending on twitter for quite some time. cyrus, really, it is great work, what you're doing. thank you for what you're doing. >> thank you. cheryl: well, speaking of the pandemic, travel restrictions are slowly slipping away as more people locked down by the pandemic are venturing back out into the world. larry kudlow on how this important business segment could give a boost to the economy and all those struggling travel-related businesses. is larry a cruise kind of guy? i don't know, i'm going ask him. right now the dow is up 114. we're well off of our session highs of the session. we were up for the dow at least 177 at one point, slipping back but still in the positive. closing bell is going to ring exactly 15 minutes from now. we'll be right back. ♪ ♪
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go online to once again, that's ♪♪ cheryl: airbnb into the close, the home-sharing site seeing an uptick in search trends as increased vaccinations translate into a renewed interest in travel. airbnb up more than 4.5%, it's still up more than half a percent right now, still 195 and change. one to watch as vaccinations continue. seas a a a little rougher for carnival cruises, down more than 4.5% in the final minutes of trading. a restart of the cruise giant is now being postponed until early may due to new covid lockdown orders in europe and italy, still struggling with the pandemic. i want to bring in "kudlow" host
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larry kudlow. hi, larry. larry: hello, how are you? cheryl: i want to officially say i can't wait to meet you in person. maybe that'll be in summer -- larry: oh, no, i'm just here with two vaccinations, lovely studio. join us on set, we'll do a whole segment. cheryl: i am so going to take you up on that. i want to ask you about travel because it seems that's key to unlocking the global economy, the u.s. economy. do you think these lockdowns in europe are a problem? how worried are you about the global economy? larry: well, look, i -- you know, i'd like to see more travel, but i don't think travel's the issue. i think the issue is europe in particular has done a terrible job on advantage city seens -- vaccines. i mean, the key to unlocking the american economy which is starting to roar and more and more coming is the vaccine miracle. starting with operation warp speed under the trump administration. now i've got some stats for you.
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the united states hit 126 million, and i'm going to call them injections, okay? they're administered. 126 million vaccinations. that's 25% of our population. in europe only 55 million have been vaccinated, and only that's 10% of their population. their population is, by the way, something close to ours in total, i think, 330, 350 million people. so you can see the problem. europe's got to get on the stick and vaccinate. and then they can start opening up. now, i know italy's had a rough time of it, but still, the vaccination story is the achille's heel of the european recovery. and you can't travel, i think, until people are per swayeded that the vaccines are -- persuaded that the vaccines are flowing like they are here and the cases are coming down. cheryl: the number right there, nearly 80 million vaccinations in a saturday here --
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larry: we had more recent numbers. that 80 million is very low. in any event, we're up to 126 million. that's cdc numbers. putting that aside, you get my point. they've got to vaccinate. vaccinate, vaccinate, vaccinate. cheryl: that might be a full number for vaccinations. i want to switch gears really quick because we just got a response from the white house i wanted to get your take on. there was this new york times report this morning that the biden administration was going to spend $3 trillion on infrastructure. the white house just moments ago walking that back. what do you make of that? larry: well, i don't know what to make of it. my view has always been $3 trillion was kind of a starting point, and it could grow larger. we are going to cover this story this evening because we have a transportation secretary who doesn't like cars and roads. okay? that's very interesting. for a transportation bill which he's going to presumably preside over, and it's not good. the biggest problem with this
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story, the biggest problem? tax hikes. cheryl: ah. larry: tax hikes. this bill in the name of climate change and lord knows what is going to raise taxes on everything that moves in america. any little thing that moves will be taxed. cheryl: yep. larry: they're even going to raise the social security payroll tax we have just found out and the income tax9 and the corporate tax and the small business tax and the capital gains tax and anything you're paying. you live in new york, do you by chance live in new york? cheryl: i don't even want to talk about it, no. it scares me. [laughter] makes me ill. larry: if you live in new york, i'm going to buy you a jetblue ticket because you're going to be gone. [laughter] you're working for free. get ready. you're working for free. cheryl: thank god i love this job. i can't wait to meet you in person. "kudlow" airs at the top of the hour. art laffer going to be joining him. we'll be right back.
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♪. cheryl: so the markets are up today with the recovery apace. what does a post-covid world look like? from 5g to marijuana laws? today's closer has the plays for us. paul destrict, at b. riley, 12 billion under management. great to see you skier. >> thank you. cheryl: postrecovery, there has to be names you're betting on? >> apple has come down in price over the last few weeks to something more like a reasonable market value. and 2022 is going to be the year when five g really comes into its own. partially because of recent spectrum sales you see a more rollout of 5g next year. apple's 5g i phones coming out
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later this year are expected to be blockbusters. apple is ordering more than they originally expected. they are projecting higher and haier growth. cheryl: i mentioned medical marijuana, legalizing marijuana, excuse me. this is so interesting. you say philip morris is going to capitalize on this and start to buy up a lot of these other small players in the cannabis industry? >> yeah. more and more states are legalizing marijuana for recreational and medicinal use. even the deep south, virginia a couple weeks ago legalized marijuana. no one made money off of growing tobacco. the money is made in selling tobacco. the same thing is true with marijuana. marijuana is a commodities. anybody can grow it and what philip morris is doing is that they're taking significant positions and investing in some
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very large companies here in the united states. [closing bell rings] cheryl: you also say british american tobacco. paul, thank you very much. markets up 108 at the close that will do it for us. ♪. larry: hello, everyone, welcome back to "kudlow." i'm larry kudlow. great to be with you. markets finished higher. bond yields fell a bit. the stock market rally could be linked to a biden white house announcement the so-called infrastructure package will be reportedly divided up into two parts for a total of $3 trillion. we just got word from the white house it will not be that high but they don't really know right now. i always assume 3 trillion was going to be kind of the baseline low estimate, could be more, much more. we'll see. looks like however, the second


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