Because they keep getting it right and individual investors are listening to them. Dave portnoy and tom lee. Big tech getting ganged up from both sides left and ride. As social media execs say they will go to the hill and plead their case. We will have congressman guy rest send thaler. That and much more on making money. Charles folks it is a familiar pattern. Nasdaq higher, dow and s p lower somewhere stuck in the middle. There are two buckets of buyers out there, chasing hot Growth Stocks which seem to get higher upgrades and targets every single morning. In fact this morning jeffries raised their target on tesla, they think it is 1200 bucks. Yesterday they thought it was 650. There is another bucket of folks to look to buy value names on dips. Investor psyche on display before the open when ceo of delta told folks on the conference call, shareholders that 500 employees contracted covid19 and 10 died. Airline stocks and boeing swooned but keep in mind that company has 393,000 employees. Intriguing news is having a impact of trading. Perhaps a reminder to go to work and keep this economy going, well, that is a reminder i hope for congress but right now to help me break down the market, walser Wealth Management president , rebecca walser. I want to start with the pattern weve been seeing, rebecca. Nasdaq up eight out of nine days and others mostly sideways. What are the actions informing you for this market . Youre looking at blue chip not necessarily what youre always wanting to go towards. It is big tech. Technology is floating nasdaq and keeping it afloat and that is what were seeing. We have not breadth and recovery in the fully economy to not see sort of centric recovery and specific sectors that is why nasdaq is still performing so well. Charles yeah, but you know, today for instance, im looking at some of these staples, theyre doing well. Church dwight, clorox, kimberly clark. They dont have the sizzle but there are some blue chip names that are performing but it is, it is almost either or kind of day day in and day out . I know. It is heart for people. I think there is such an emotional reaction now. What you were talking about with the delta ceo, having those deaths. We hate to hear 500 people and 10 deaths. If you put into perspective 93,000 people are employed, that is what their impact was, not to minimize it, from the perspective relativelity it it actually very low. Emotional reaction on Airline Stocks and boeing is not just warranted from a logical mathematical perspective. I understand the emotional side. Remember when you emotionally invest thats when you make mistakes. Charles right. It is hard to see those things. Charles but by the same token, we have the big market rebound from the march 23rd lows and coexisting with extremely jittery investors. While you may stay calm, cool and collected how do you adapt when everyone else is losing their minds . That you have to have an actual plan. Some investors are looking for short term gains and speculators are looking for volatility. They make the money off volatility. Thats freight. Great. Most of america are looking for 401 k s to go up. Theyre looking long term. Most people you need to have a plan. If your plan is long term, got more than 10 years. Try not to look at it too much. When you look at it, you get emotionally invested you make mistakes a lot of people got out, charles. A lot of people got out at the beginning of this swing. They missed up swing. That was a mistake. If you have a longer term, dont look at it every single day something youre using tomorrow to live off of. Youre not. There are two different camps. You dont have to follow speculation. Charles although, you know, easier said than done, when it is like, you know, when big down days in february and march, you couldnt avoid knowing about them. In fact, on this 401 k thing, on a recent podcast you talked about this, one much your podcasts about 401 k s in general, being complete disaster for most americans. Have they not lived up the hype and potential or have people gone about it the wrong way . Exactly it. It is two things, two things specifically. So from around investment perspective people invest emotionally. They transfer jobs and they cash their 401 k out. I think it is not that much, i cash it out. They do that many times. From investment perspective that is losing proposition. If youre going to follow emotion, cash it out, we change job as lot more than we used to. That is a big problem. That is the investment side. On the tax side, as a tax lawyer, one of the things i look at where are the tax consequence down the road. Mass exodus of boomers in this decade beginning in ernest in 2022, is not something a lot of people are prepared for. Theyre not taking tax strategizing steps. That is mistake. That is the other reason its a big problem. Charles rebecca, thank you very much. Appreciate it. I got to tell you, folks, one of the best parts of the economic story before the pandemic was the resurgence of manufacturing. If you look at the january and february data, it was on fire. Like the entire economy of course manufacturing was now it is surging back faster than anyone thought possible. In fact this morning the Philadelphia Fed report saw monster reversal from free fall to strong growth. Six months out we could see a manufacturing renaissance this news matches results from the empire fed report also. Meanwhile, there are reports out there there are factions within the white house that are at odds over what the next stimulus package should be focused on. Some think it should be domestic manufacturing. Get thoughts on this from university of maryland economist peter morici. Peter, looked like manufacturing was an anchor last year but it came out the gate strong this year. Really was gaining momentum and gaining momentum already. Should we put emphasis on that . Should the white house put an emphasis on manufacturing . Certainly. The fundamentals behind manufacturing or underneath manufacturing are changing because of artificial intelligence, robotics all that business. And now within the necessity to bring the supply chain home or at least strengthen it, fortify it, my feeling is that lowwage countries dont have the same advantage they once had. So the question is, how do we bring that along . Because the chinese are going to fight this tooth and nail but subsidizing their industries. The europeans will put a wall around theirs. My feeling, lets give money to employers on basis of number of hourly workers they have. Over a period of time, lets provide incentive. I dont mean a tax credit. Lets just say, you know well give you 1000 a month for every hourly worker you have, 2,000 a month for each one you add. Well let that run six months. Well tail it off as the Unemployment Rate goes down. It cant be permanent but it is something to give manufacturers an incentive to reopen their doors. Theyre so concerned about reopening restaurants. Gee whiz, i want toe see restaurants open up but we tend to not have enough sympathy and manufacturers for manufacturers because theyre off in rural areas where we cant see them, another part of town where we dont see them or theyre big guys like the Ford Motor Company. Heck the Ford Motor Company is the best social Service Agency in america. Is there any better social program than a factory job at ford . I dont mean that is a giveaway. Is there any way to improve yourself being on the line, than your family, being on the line at ford . Charles i am really anxious about just all of the internal bickering whether it is in the white house, whether within the gop or whether in d. C. In general. We know there are another stimulus is needed because the other package, to be quite honest, relief packages just to keep us alive but now that little bit of a nudge, what else, what other direction would you advise if you could get the white house to go to focus on right now . I think we need to take a very hard look at this trade deal with china. Im really glad the farmers will get to export more soybeans but it is also creating a lot of difficulties with our allies because theyre just shifting their purchases from one to another. From them to us. Why arent we negotiating better access for manufacturers in china . If they wont give it to us, fine. Give up on it, start saying milton bradley, mattel, so forth, why do bar by and monopoly and whatever have to be made in china . Surely the chinese dont have magical intelligence that requires those little hotels on a monopoly board or a doll or whatever to be made there is there something about the chinese that permit them to make, you know, yacht see better than everybody else . Were buying stuff in china you can make anyplace. Even if we made it in vietnam, at least i know one thing about vietnam, if they make a monopoly games and we buy them, they will buy fords. If we make monopoly games in china, well, they will only by cars made there. Charles great point. Peter, thank you very much. Always appreciate it. Folks, i have got some breaking news for you now. Facebook says that it took down certain posts and advertisements from President Trumps reelection campaigns. Reports say that it is over violations of facebooks policy against organized hate. Now apparently the ads contained upside down triangle similar to to a logo used by the nazis to classify Political Prisoners this comes on the heels of twitter, removing, censoring some of President Trumps tweets. In the wake of george floyd protests. Well be delving into this later. China is complaining that the new beijing outbreak is already under control, folks already. Should we really trust them . 2 25 two guys the Financial Media make it clear they hate. Bar stool ceo, dave port any, has turned into the pied piper of millenial traders and tom lee, who has called this market perfectly. Well be right back limu emu doug and now for their service to the community, we present limu emu doug with this key to the city. [ applause ] its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. And now we need to get back to work. [ applause and band playing ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Charles well the china coronavirus scare that had wall street worried, folks, it is now under control apparently but really can weapon trust china when it comes to this kind of thing and know if its true or maybe draconian measures they use to tamp down stuff like this . Chinas government is collecting blood samples from 700 million men and boys to augment the massive surveillance operation. Theyre targeting their own citizens there. Is outrage American Company thermofisher is helping out with the process selling testing kits to the chinese police. Wall street journal opinion writer Jillian Melchior joins me with more on this. Lets first start with the fourday scary guess. I dont think it is interesting, i remember a week ago china reported zero coronavirus cases, golly, you got to be kidding me we took it a little bit serious when they admitted there was an uptick in beijing. Now apparently, jillian, everything is under control . Color me skeptical. I think what weve seen from the start of coronavirus is that beijing has not been up front. In fact led a very deliberate campaign to mislead the world and cover up what actually happened with coronavirus within its borders. So i think given that long history there is no possible reason that im going to trust them right now. I do think it is significant there is an outbreak in beijing, that is the seat of government there. There have been a lot of precautions there, just trying to keep coronavirus firewalled off beijing. So that is significant. Then i will also just say, look at some of the studies just on a statistical basis trying to quantify the spread of coronavirus in china. One out of eight saying, basically the math doesnt add up here. The number of coronavirus cases reported in china. Charles right. I just dont see how that is accurate. Charles well there is also, you know, chinas social media. The narrative this morning was, no, they dont have the coronavirus under control or contained, they have the people uncontrol and contained. They take some pretty draconian steps at the first sign of problems. You know, steps that the western world probably would never take, certainly wouldnt want to take because of how we treat our own citizens. Yeah. It is extraordinarily disturbing, with china unxi xinping, the retreat of freedom, everything from hong kong to shinzhen province you have concentration camps for chinese muslims. It is horrifying. Youre seeing expansion of authoritarian state using hightech surveillance and dna. That is really repressive. There is an argument the United States should care more about its economic relationship but i think the human rights relationship really says a lot about what china is, what the nature of that country is, and what kind of government were dealing with. I think we need to stand up against Human Rights Violations that is one way of pushing back at a regime that is fundamentally wrong. Charles real quick. I got less than a minute. Some say it is harder to push back when youre so reliant on them economically. You have a company like thermofisher which has been a amazing stock for a long time. Does it rub you the wrong way if theyre doing business with them, when you know it is used as something as nefarious as the latest initiative to collect all the blood and dna samples . It does. Were seeing more scrutiny in general over American Companies and social justice. I would like to see more scrutiny like this. The American Consumers demand that our companies are not aiding and abetting a oppressive government. Charles jillian, thank you very much. Appreciate it. Thank you. Charles folks he is best known for the sports commentary and of course those pizza reviews. Barstool sports founder dave portnoy has taken up a new trade and Financial Media hates him for it because he is crushing it. Well be right back. vo at audi, we design cars that exhilarate with versatility, whether on the track, or the everyday drive. Today, that philosophy extends to how we connect with you. We call it, audi at your door. Whether a remote test drive, shopping, tradein, or even service pickup, audi at your door can do this and more at participating dealers. The premium audi dealership experience, on your terms. Audi at your door. I was blessed to be part of building one of the greatest game shows in history. During that time, we handed out millions of dollars to thousands of contestants. And i thought, what if we paid the contestants their winnings in gold instead of cash and prizes . Back in 1976, we had a wonderful contestant named lee whose threeday winnings were valued at 12,850, and you know what . That was a pretty big haul back in 1976. 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If you call right now, you can also receive a copy of our new u. S. Gold report for 2020. Inside, youll find the top 25 reasons why you need to start owning gold today. With nearly two decades in business, over a billion dollars in transactions, and more than a half a million clients worldwide, u. S. Money reserve is one of the most dependable gold distributors in america. Yeah yyeah yeah hey, hey. Charles pandemic boredom and markets crashing have given rise to a brand new batch of active traders, perhaps as many as 10 million. Finding himself with a lot of money and a lot of time bar stool sports founder dave portnoy took to the robin hood app and started a revolution. With an army of traders backing him up, dave portnoy joins us. Thanks for joining us. Thanks for having me. Charles lets talk. Initially i know you got in this. There was a lot of fanfare. You admitted there was some growing pains. Explain, just sort of the process. You started doing some trades. What did you learn and adjustments you quickly made . So, yeah, when i got involved, i learned what shorting the market was. So i bet against boeing a little bit. I bet against lululemon and i got my butt kicked. Then i realized that the stock market has affect on the real world and vice versa. It is its own universe. That the wiseguys on wall street, pinstripes suits have the thing ringed to their benefit. Once my brain adapted, figure ited out, i quickly realizes stocks only go up. We bet on stocks going up and they keep going up. So since then it has been a pretty easy game. Charles yeah. I got to tell you, dave, when this whole thing began i came on tv a lot. Ive been doing it 35 years. I begged people not to take losses. If you had the fortitude and where with all buy the dip. But lot of people didnt have that. You have given a lot of folks confidence to get involved in this market. What about your impact on the trading that is happening now . Well, yeah. I mean, basically my firm, we put our flag, we plant our flag in the ground when airlines and cruises were at an alltime low and our fa loss first my philosophy, was, people will fly in this country. Were social creatures and that the airlines were not going out of business. That you know, spirit wasnt going away, delta wasnt going away and i believed that. And a lot of people believed it with me. So we got in on these airlines and cruises when they were super low and Warren Buffett was telling everybody to run for the hills, we were running the opposite way. We were two ships passing in the night and benefited us. It has been a very good market the last couple months for all the people who have been investing. Sure there are some down days but overall if you stick to the plan, which is stocks only go up, it has been a very good run. Charles the einstein theorem model, what is that . Well, that is really simple. And again i keep repeating myself but we have a couple of hard and fast rules here. Stocks only go up. That is rule one. And rule two, when in doubt refer back to rule number one. Listen we have stock markets are still going up, theyre not attached. You know, there are things that the fed is printing money. The stocks are printing money. Its a great time to be involved in the stock market. Obviously you got to invest what you have. You know, i may have more money than most. Charles right. You have to be willing to lose it. That is rule one. The good news right now. If youve been following dvdg global, you can have a month of red and still be in the green because weve been firing on all cylinders for a while now. Charles before i go, let you go, few seconds. Sports coming back soon. You will still put same amount of time and effort into this . Yeah, hopefully sports are coming back. Fauci is trying to scare everybody again but i think sports are coming back. When they do, i will probably revert back to sports gambling. We have a new app coming from penn which should be great. So i wont have as much time to do the stock market but to be honest, it is not very different. Theyre both forms of gambling. Charles all right. Well always refer the rule number one. Dave, thanks a lot, my friend. Congratulations. Thanks. Take care. Charles hey, when the market also, folks was on full meltdown mode this next guest called the bottom. And when the street rallied as really at the skyhigh valuations of these Growth Stocks he said no, they will keep going higher. Even now he thinks it looks like value will be so far from behind while wall street thinks it is a buy, my next guest says stick with the momentum names. Global advisors tom lee who joins us now. You rankle ad lot of people on wall street particularly the Financial Media, dont follow the panic. Why dont you, you go on tv all the time, take shots at you particularly when the market is on the down slide, you remain confident, people that followed you have done very well . Thanks, charles, great to be on. I think our confidence on stocks actually stems from the massive uncertainty around the disease because as we know this is not a normal disease. This is not a normal business cycle, not a normal fed, not a normal white house. The stock market has been textbook, that initial crash mirrored patterned itself after 1929. On march 23rd i did a call with tom who is legend on market timing he identified that as the day of the bottom. And as the market clawed its way back. You should make up half the losses within the half the time it fell. That is what happened that happened in midapril. Historically after crashes markets make vshaped move. Weve been letting the market sort of inform us on what the recovery looks like and really for the last four weeks it has been saying it will be a very vigorous economic recovery. It has been saying that for eight weeks. So i think that is our confidence, charles, you know, whether it is credit. Charles right. Yield curve or equities it is telling us to be constructive. Charles you know, i think the thing though, tom, i agree with you 100 , ive done a great job with my own subscribers and i tried to help our viewers not lose money, if they can, make money, it feels like for some reason the narrative on wall street which always been listen to markets, watch the yield curve, dont fight the fed, all the things youre talking about, they started to overlook, i feel like, to be quite frank with you, i feel like political opinions started to seep into financial narratives but it just bugs me that the things you talk about, everyone used to talk about and so many have abandoned that. Yes. I think it is interesting because i think, you know, ive been covering markets for close to 30 years now and i learned that i can never tell the stock market what to do. So i, you know, it doesnt care about my opinion. It makes no moral judgments. It is not political like everything you described and youre right, i think there has been a lot of finger wagging at stocks, people say, well, doesnt the stock market know there is a disease . Doesnt the stock market knows there is misery . Of course the market knows. This is a Great Depression were going through but it is telling us companies are ad justing quickly, consumers reacted properly. Theyre taking precautions. There is a lot of pentup demand. Youre right, i think people are trying to tell the market what to do, instead of trying to listen to the market as you said. Charles right. Tom i only have 30 seconds today shopify got a new target of 1000. Paypal 190, tesla 1200. Apple got another upgrade. Are there any limits yesterday someone said amazon can go to 5000. Are think any limits where the high flying Growth Stocks youre doing well in, are there limits for them . You know one of the lessons we learned this is a Great Depression we just had, the worst in five lifetimes, maybe in the history of america. If a company is prospering as you said, theyre unkillable. If you cant kill these companies, then were being too pessimistic about the risk and therefore risk premium should fall, which means multiple should go up. I still think there is lot of legs for not only u. S. Tock market to go up but high quality growth names get rerated to higher pe. Charles tom lee, youve been amazing. We appreciate you sharing some of your wisdom with us. Thanks, man. Thanks, charles. Charles while some on wall street think that big tech is unkillable from an investment point of View Congress is going to try to put that to the test in different ways. With todays antitrust hearing what it will mean for your money particularly with this break facebook news. Also the white house says American Families need more stimulus but conservative budget hawks want toe stop the spending. I will ask congressman guy reschenthaler where republicans are. Seems like there is too much fighting to get to the next steps of recovery and thats not good. Well be right back just over a year ago, i was drowning in credit card debt. Sofi helped me pay off twentythree thousand dollars of credit card debt. They helped me consolidate all of that into one low monthly payment. They make you feel like its an honor for them to help you out. I went from sleepless nights to getting my money right. So thank you. Thats why ive got the power of 1,2,3 medicines with trelegy. The only fdaapproved, oncedaily 3 in 1 copd treatment. With trelegy and the power of 1, 2, 3, im breathing better. 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With paycom, employees enter and manage their own data in a single, easy to use software. Visit paycom. Com, and schedule your demo today. Charles Tech Companies under fire as both sides of the aisle are targeting the likes of twitter, facebook an google, this over censorship and antitrust. The House Intelligence Committee today grilling big tech reps how they plan to guard their platforms at the election and more. I would like to bring in republican congressman guy reschenthaler. Im not sure if you heard this, facebook deleted ads from president Trumps Campaign what they say is violation of policy against organized hate. Have you seen this . Do you know the ads theyre talking about . Do you have any thoughts on this . Charles, first off, thanks for having me on. Im getting caught up on the story with facebook, looks what facebook banned President Trumps ad for including antifas symbol. This is symbol, President Trump was using was his symbol, antifas own symbol and didnt ban it when antifa was using it. They exposed how biased they are. Charles that is absolutely nuts. The news broke as we were going on air. So i couldnt get the details on it. Feels like, listen, facebook under a lot of pressure. We both know this because, initially, they werent going to do what twitter did. They said, you know what . Well let the platform speak for itself. They let people opt out of political ads. Feels like theyre bending to the will of the mob. How hypocritical is this . It is completely hypocritical. You know it might be a new story today but it is the same old playbook weve been seeing from these big Tech Companies. They want to influence the election and theyre engaged in publication, right . Theyre asking publishers and there is legal distinction. The law, 230, which well talk about in the judiciary committee, that says these companies can act as platform and take off some Sensitive Information and still get immunity from liability. Okay . That is important. The other option they decided to be publishers where theyre creating their content, theyre picking what goes on. Theyre open to lawsuits and liability. So these big Tech Companies have to have it one of two ways. They can be platforms like the law intended . Or they can be publishers and be held liable for their content. But right now, theyre acting like publishers, when they demonetize conservative speakers, when they take down posts, when they act like that they should be not afforded Liability Protection under communication decency act, section 230. That is what judiciary will focus on in the weeks ahead. Charles it feels like there is galvanizing on both sides of the aisle that something has to be done. This sort of notion that there is a day of reckoning, it has been lingering for years. What has changed . Why now all of a sudden both sides of the aisle saying this is sense of urgency to bring some order to this . Well there is a sense of urgency on both sides but were coming from two different angles. The democrats dont think theyre going far enough to censor conservative viewpoints. In fact they are focused on allowing big tech to demonetize conservative speakers and to take down posts like we saw from President Trump with very dubious reasoning behind it. That is where the democrats are coming from. The republicans are coming from it from a different angle, saying that you have to choose, big tech. You either are platforms where people just post content or youre publishers. So it is an interesting viewpoint. I can tell you we as conservatives feel like were singled out. We feel like big tech is abusing section 230 of the app. Theyre getting all the protections of liability but none of the responsibility. The democrats want big tech to go further. Charles wow. You know, it is interesting, because there used to be a facade in Silicon Valley they werent doing this now feels like they dropped the facade. Theyre being pretty out front about this i got less than a minute. Youre member of the freedom caucus. A lot of debate on the stimulus package. We do know america, the country, we need a push, right . Continuing jobless claims, still over 20 million people. Where should we be focused on this next package . Well, lets take a waitandsee approach f were going to spend more money it, should be directed towards a huge transportation and infrastructure package. Im still a firm believer, only way you grow the economy, you cut taxes and you reduce regulation. I would like to see more deregulation. I would certainly like to see more tax cuts. Lets make the tax cuts permanent. Look at paycheck holiday, paycheck tax holiday. Lets look reducing longterm Capital Gains too, charles. Charles right. All right. Congressman, thank you very much. Really appreciate it. Good stuff there. Thanks, charles. Take care. Charles meanwhile, President Trump is taking heat for asking his supporters to sign waivers for his comeback rally on saturday. In fact democrat congressman mark pocan he introduced a bill to prevent President Trump and campaign from requiring covid19 liability waivers at the rallies but you know what, many businesses are asking for the same thing. Its a serious legal conundrum. Cheryl casone has more. Reporter that is right, charles. A big worry is emerging will they be open to lawsuits and legally liable if customers or students, for example, contract the coronavirus . And in the absence of any protection from the courts or legal precedent which there isnt right now, it is up to these entities whoever they are to decide how best to handle the return of their attendees or customers. Last week the Trump Campaign told attendees they with have to agree not to sue the campaign or venue if they caught the virus at the upcoming rally. That sparked the ire of that democratic congressman that you mentioned but this is not the first time that this issue has been raised. When further stimulus talks began in washington a few weeks ago, Senate Majority leader Mitch Mcconnell made it clear, any further assistance would need to include Liability Protection for businesses from potential lawsuits. There is no guarranty to businesses, buildings, schools, local government, they will not be sued at any point down the road. In fact, get this, the Ohio State UniversityFootball Program is taken the lead in the sports world. Theyre asking players to sign a risk waiver acknowledging the possibility they could be susceptible to covid19 when they get back on the field. But whats better . A waiver or legal precedent, protection . Is this something that states should decide or the federal government should decide . I dont know, charles, maybe the high court is going to have to decide at some point . I think this is the beginning after story that is going to continue and it will be tough for businesses to address. And my god, theyre finally now just getting back open. So there you go. Charles i know its a tough one. Cheryl, thank you very much. Meanwhile, folks, charlottes web is now the biggest cbd brand in north america as millenials moved away from the socalled weed trade. Can this industry ever live up to the initial hype . Well ask that companys ceo next. Where will you go first . Wherever you may go, lexus will welcome you back with exceptional offers on exceptional vehicles. 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Liberty. Liberty. Liberty. Liberty. Charles taking a look at the market as we head into the final hour of trading it about the same, folks. Mostly call it flat overall. The markets still looking for a catalyst, right, that can spark a move maybe to the upside, downside, who knows. I mean the volatility is starting to fade but i want to bring in Keith Fitzgerald, with the Keith Fitzgerald group. He is the principal there. Keith, here is the thing, we have became so accustomed to the crazy sessions particularly recently where we were down a lot, turned around. What is the market waiting for . This is the calm before the what . I would not say it is the calm before the storm because volatility cuts both ways, charles, opportunity and fear. I think whats happening is the market is very much ranging, it is bidding up energy like the slingky we would play with as kids before it went down the stairs. It would compress and expanding. I think it is waiting for headlines, something less bad or dare i say it, good. Charles now you got the long in my head. It is slinky, it is slinky, for fun its a wonderful toy it is a coiled spring. Meantime nasdaq and tech names keep erupting higher and higher. Keith, you come in, take some money put it on names that you feel like will keep winning at the same time you hope for a dip in value names as well. That feels like what is happening on the daytoday session. I agree with that and i call it a book end philosophy right now because the tech stocks are very much the stocks you invest in for the postcovid environment. They can change a few lines of code and take off. That argument that narrative is well understood. At the end of the spectrum you want stocks like visa and jpmorgan for example which are traditionally consumer cyclical but i would argue are tech stocks in disguise. Theyre digital currency. Theyre money. They are what will make the world go around. It is a constant tugofwar right now. Eventually they will all align and well run higher. Charles meantime, you know, the Financial Media has to find a narrative every day. More recently it has been the covid19 spike. First it was national spike. Then it was a lot of states. I think today is arizona and florida. And listen, we know cases are going to go up. Is there a point when you really start to have to make some hard financial or Investment Decisions based on increasing covid19 cases . You know, i think that environment is going to be with us for a long time. This is all about risk management. You dont want to extend yourself farther than you have to. You never use money you cant afford to lose. You constantly want to be playing offense. That is something you and i talk about all the time. Because trying to miss fear, trying to miss risk is always more expensive than missing opportunities. So i submit, focus on the opportunity even if the headlines are going to stink. Charles are you concerned about valuations . A lot of folks on the street are saying hey, you know what . All the things, for instance, keith youre talking about are true, but maybe already built into the market which is why it is having the trouble the last couple sessions getting any traction . You know, i hear that argument a lot from a lot of folks in the institutional side of things. Frankly, charles, a lot of those folks missed the ballgame. If you look at these stocks five years from now, i would submit, i would come back on your show, and say we talked about this, i would say very same stocks theyre telling you are expensive today, are ones theyre kicking themselves in the rear end for not owning five years from now. Charles before i let you go, we have less than a minute. Some names are still sticking out to you as far as opportunities than others . Absolutely. I mean, you know, ample, microsoft, i think both double within the next 14 months. Names like visa, jpmorgan, are two of my favorites. Im actively accumulating all these shares myself. Ecolabs, for example, is another one that really intrigues me because of all the cleanup that will have to happen as a result of the virus. We have no idea what sanitation is going to look like but we know well have to have it. Even at 200 a share, that stock is very attractive. Charles keith, my man, the slinky commercial will run in my head rest of the show, i appreciate it. We always appreciate it, keith. All right, folks. Well be right back. Yeah yyeah yeah hey, hey charles the biggest deal in cbd history just closed, making charlottes web north americas largest hemp derivative cbd company after they acquired Abacus Health products. In related news, new jersey lawmakers voting to decriminalize marijuana today. Overall, this industry, where is it going . I want to bring in the ceo of charlottes web, danny elsner. I want to say up front, from what i have read on your website, your company doesnt produce or sell medicinal or Recreational Marijuana although it does sometime trade in that group, right . It does. It trades in the cannabis sector. Cbd is different. It doesnt have the thc or psychoactive effects you do find in marijuana. Charles so you do hemp, hemp oil, you are in 21,000 Retail Locations and your company just got bigger. Is some of the excitement fading away or has it faded away from cbd over the last couple years . Charles, we hear this question a lot. Is the growth party of cbd over . Its not even close to starting. Think about this. In december 2018, cbd was made legal. That was about 15 months ago. 2019, if it was human years, would be the year of the infant and the growth in the category was strong and buoyant. As regulatory has lagged the category today, it has slowed a little bit as retailers have pulled back but we fully intend to become a billion Dollar Company and we anticipate a day that cbd will be as prevalent in households as aspirin is today, yet really addresses states of pain and sleep and stress and anxiety. No, the category growth hasnt even begun. We are looking forward to leading it going forward. Charles is there still a messaging issue . Its interesting because at the onset of covid19, the coronavirus pandemic, several states said that cbd shops were actually essential businesses. I thought that was an amazing wakeup, epiphany of sorts. It feels like the messaging part of this still needs some work. Yeah, absolutely. A number of states identified us as essential businesses and that enabled us to continue to produce and run and service the needs of our consumers. But there is for sure some challenges with the pandemic because as consumers have less Discretionary Spending and are looking for essential items like toilet paper and dishwasher soap, cbd is not necessarily at the top of their agenda. If you look at our website sales, we are seeing healthy buoyant website sales. Our ecommerce platform represents about 65 of our business. That platform was up almost 30 in the first quarter. So we will continue to see the growth come in this category as consumers move from brick and mortar to ecommerce through this pandemic. Charles quickly, all the weed stocks are up today. Your stock is sort of kind of drifting a little bit. With the legalization of marijuana and the ability on a federal level to bank those profits, would that actually threaten the cbd industry . For sure regulatory in this category, cbd and marijuana, is a necessary barrier that has to be gotten through in order for consumers to get access. So we too are looking for the regulatory. When have you ever seen begging charles all right. Congratulations. We appreciate you coming on. We will definitely touch base again real soon. Thank you very much. Liz claman, not a lot going today. Its sort of one of those last couple days, i think its the calm before im not sure what, though. Liz before the drizzle. Not the storm at this moment. Charles, good to see you. Thank you very much. We do have this breaking news. President trump is set to hold a roundtable discussion right now with the governors of nebraska and oklahoma as well as several Small Business owners. The discussion topic, the reopening of americas Small Businesses. This will take place inside the state room. There are cameras there. We will take you there as soon as the event begins. It all comes with the market still searching for direction at this hour. We have a mixed picture as pandemic fears outweigh the positive momentum of reen