Episode Summary:
- Market Recap
- HUGE BENZINGA News!
- Paypal
- Tesla
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Guests:
Tim Quast, Market Structure Edge
Meet The Hosts:
Dennis Dick
Twitter:https://twitter.com/TripleDTrader
Spencer Israel
Twitter: https://twitter.com/sjisrael
Joel Elconin
Twitter: https://twitter.com/Spus
https://www.premarketprep.com/
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Unedited Transcript
good morning. Good morning. Good morning, everybody. I am back in the office. It is exciting to be here. Good to see you guys in the chat. Kevin bill, big D Muhammad, Juan donkey. Dave James, throw it away, Nick. I can't go through all of you right now, but it's great to see you. It's great to be back. Uh, we got a lot going on today.
We have like, we have market news. We have like the usual stock market news, but today might be the first day in the six years that I've been here that we actually have. Benzinga related news. Yes, we are the news today in case you missed it,
Berenger capital has acquired a majority stake in Ben Zynga. It is very, very exciting. We will hear from who else, but the man himself, Jason Resnick at some point in the next hour, I can't promise you when he's here in the office, he's in a meeting, he's a busy guy. He's got a lot going on, but at some point before the hour is up, I promise you we'll have Jason Rasnick on this.
So those are you going to ask him where he's been? This is where he's been. Apparently he has been making moves, doing deals behind the scenes. We've got a lot going on here. All I want to know is stop. Yep. Am I going to have to buy a car? I actually gonna have to buy a call. Timeout. You wait, you want to say something funny?
Yeah. I think this has already got into Joel's head. This has, this has got, this has got a way too far, Joel. Let's look at this Joe Hall, come on. This is what's hot. We're now suits are we suits? I'm wearing a space shirt. I haven't had a comb ever in my life. Everybody makes fun of my hair is the hair indicator.
And you're a suit and tie. Now it's all suit and tie. You were working behind the scenes of steel the whole time. Mr. Alcott. I did just real quick. I had a tie that I've never, that's unbelievable. I don't even think I'm in trouble here. I'm in trouble. Okay. Here. You know what? We might as well, just go crazy with it.
So everyone grab yourself a nice glass of champagne or whatever. You've got poor porn. I am not prepared for this. I will tell you that much. I did not cut my hair. I did not shave. I'm wearing a space to you. And I have no champagne. I am not prepared. I'm S I'm definitely underdressed. Mark. I'm definitely under dressed for this party.
We were going to ask Jason, if we're now a suit, but Joel would, he is a suit. Apparently, apparently that's been answered. We got to get suits, jumped the gun on us. We got to get suits. I hope you guys don't get sick of seeing this blue blazer problem. Joel, you've never looked better. Pre pandemic a blazer here.
Uh, I don't know what else I have in my closet. I was scrambling. No, but, uh, let's get the charts out. Let's go to the market. Let's take this to the markets where I'm more comfortable. I'm uncomfortable with the suit talk and Combs. Take me to the market. Take me where I know something. I, even though I know.
No right. Let's go to the futures are traded up six and a quarter handles at 35 42, 75 little dip after hours. Cause a triple D took off to celebrate his anniversary. He didn't support the market, but uh, all's would need to do know is the high for Friday 51 50. So that's our target on the upside and to make a new, old time closing high, we got to close above, uh, 41 75 crude, tried to bust into the 85, handle up a buck 15 at 84 89.
Gold having a good day up six, 10 at 18 0 2 40 silver into green by 2.60 cents 24 47 Bitcoin on the rebound that's up 1820 at 62,900 and a theory that's up $143 at 4,137. And those are the futures, but, uh, what's the top news story. Um, pins not getting bought. What do we got? Probably got, well, it's hard from a Sergeant.
Vincent. It's probably the Pinterest PayPal thing. Yeah. Um, in case you missed it last week, there was a report that, uh, PayPal was maybe sniffing around in Pinterest for maybe 70 bucks a share. Well, it doesn't take a genius to figure out what happened next. Right? Uh, the market did not like that headline.
So this morning PayPal comes out and says, Hey, nevermind, we are not pursuing this acquisition. Everyone go back to your business because there's nothing to. I mean, this is what we talked about last week on the show and saying if PayPal comes out and I never understood the reason that they were going after Pinterest, anyways, it made no sense to me.
I was obviously very skeptical of it, but I said, if PayPal says no to this deal, you're can see Pinterest tank and PayPal rally significantly. And that is exactly what we were getting this morning, PayPal up 13 points on the no deal and pins down significantly. Now, one other thing to consider here as well is they kind of gave Pinterest a little bit of a pass with the bad snap news next week.
Yes, it got hit a little bit, but not nearly to the extent of some of the others. We know Twitter was down. Pinterest was still somewhat holding up because they had hopes that there was still going to be this potential deal. If that deal is off the table. And obviously you don't know, maybe it can come back on the table, but.
That obviously now you've got to look, okay. Well now you're under the social media environment. Obviously snap, you know, has, um, you know, had put out bad news last week and Pinterest and Twitter would have obviously trade down with it as well. So Pinterest actually coming all the way down and now making new lows, two things to be learned for newer traders on this.
When you chase rumors and the rumors don't materialize, you lose a lot of money. Obviously people buying up at 63 65, 66 on Pinterest. I believe it was even trading higher than that at one point in time. Um, and, um, you know, now giving it all back, so stock right down near the lows. Uh, I don't know what to say.
I would say PayPal was probably the better play because it's a stock that has been loved for a long time and selling off 30 bucks because nobody got why they were going after Pinterest. Obviously the market didn't get it. It was pricing. And you're getting the bounce backs. So this pinch does PayPal go right back to two 70?
I don't think so, but I'd be interested in a dip on this again. There'll be maybe some people still concerned that they might be snipping around maybe at deal rematerializes but nice lift for PayPal. Yeah, pins. I mean, you're, you're returning to the scene of the crime right after the, the big gap down after earnings.
Last time was 50 bucks. Do the, do the bulls. Do they want to come in here and fix. You know, and support the stock to monthly lows in that area. I won't be one of them, uh, next monthly, low man that doesn't come in the lower 40 handle. So I think you'll have to drill down on your dailies to find something else, but, uh, let's just go right now with the pre-market law right here at, uh, 49 on five, as we speak, keep an eye on your low at 9 29 and 59 seconds and see if the bulls want to make a stand here.
But a lot of people buried in this from the move yesterday, PayPal we talked about too, and they pounded, but never in order to get back to where it was before needs to get up to two 70, it looked like it was busting out just above 2 72 pre-market high, 2 58 and pins. If you're looking for file through and the upside currently trading 53 and a half.
Okay. Can I, can I ask, was this a case of somebody at PayPal? Floating this to see what the market would think. Do you think? Oh, I, I wouldn't be, I wouldn't be surprised that companies, I don't know if that's the case in this case, but I wouldn't be surprised if that does happen out there. I think deals fall apart sometimes because of a market response.
I do believe that. And you know, a lot of times you see, like, okay, yeah, you know, you, you we've seen it before where even with like, you know, like a reverse split or an offering or something sometimes. And, you know, sometimes it's because we don't like the way the market is responding to this news as the market is speaking, what it thinks of it.
And I wouldn't be surprised if it has something to do with it, to be honest. I mean, you watch your stock fall 30 bucks and everybody's like, and then you see the snap news last week that probably didn't help over the weekend. You know, you see obviously snap getting beat up and it's like, what do we really want to pay a pin?
Uh, right now for Pinterest, when some of these other companies might start to struggle, especially after the snap headlines. So I think that maybe has more to do with it than maybe the PayPal response, but there's a few reasons to be skeptical of this deal. And the skepticism was rewarded here this morning.
If you were shorting the pops on Pinterest, you're making some money. Okay. Let's move on here at, let's talk about Tesla. Uh it's and the headline this morning is actually crazier than we thought, because the headline was that Hertz is going to buy a hundred thousand Teslas. And then I just saw a minute ago that.
Has brought on Tom Brady. This is, this is true to be the spokesperson of there. We have Teslas come rent cars with us ad campaign. Wow. There's big. And Hertz is making moves this morning, but if you pull up that Tesla chart breaking out again, and I was talking to my by sheer coincidence was talking to my dad last night about Tesla.
He said, he's got a little piece. He said, I kind of want to sell it. I said, hold on. I said, hold on. Wow, dad, if you're, if you're watching, I don't know if you are, it's time to move off of that. Stop a little bit. I think, cause that was $50 ago almost. And you know what? No matter how you interpret the headline, you can say I'm asking the same question as somebody with.
I don't know how Hertz is affording a hundred thousand Teslas when they're coming out of bankruptcy, but I kind of like it, you know, like I think about it, it's like, oh, I'm going to a rental car company. Oh, let's go to the tonics. I'll rent a Tesla. I mean, it's kind of cool. I never, you know, I've driven a Tesla cause my one friend hasn't RAs has one too, but I mean, I rent a Tesla.
If it's, if it's not like a premium price to pay and they're just bringing them in, I think it's a good angle. So you're coming out of bank street. You're trying to emerge. I kind of like it, you know, from, uh, not that I'm going to go up by Hertz. It's no doubt. Good for Tesla. I mean, they've got the name, we've talked about the stock we talked about last week saying, I mean, it's just keeps going up.
It's really driven by story. Here's more to the story again. Why can't it go to a thousand? It probably is going to a thousand. So, I mean we're 9 49 now, just like Kenny says, stock goes to 800, 8 50 to 909 50 off and gets you a thousands of going straight there. I don't know if it's going straight there, but I got to think four digits as eventually in store for tests.
Hard to fight the trend. I'm refraining from making any former Hertz commercial jokes. I can't even remember the Hertz commercials, Hertz commercials. I don't remember. I can't even look at Joel. I gotta bring him off the screen. It isn't a suit. I don't even know how to even look at them in a suit. It's like weird.
It's like we got some, you know, it's really important. You know? Not that you're not this, you're not important, Joel, but man, I like look at him in a suit. I'm losing my train of thought. So what were the Hertz commercial? I don't remember any, it was OJ. They going back a long time ago then even I've seen those what's that before the whole glove incident.
Yeah. He used to jump over. You show him, run it through an airport. Jumped in. Oh, I do remember that. I didn't realize it was Hertz though. Oh, that's. Uh, what can I got a small plus don't fit. You must acquit. Yeah. Yeah. Did I ever tell the story about, uh, I was on the oldie trading floor and there was this guy, I think he was name was Steve Schuster.
Um, and he was going around and he was getting odds that he was going to get acquitted. And I mean, he, and he was getting odds and he was laying out big dollars or people are laying up big dollars and I'm like, I, I didn't know. I was just, I was unsure. I'm like, why is he doing that? You know? And, uh, sure enough bad that the verdict came out.
And I mean, people literally wanting to show. And I think his name was Steve Schuster, but it was just like, when it looks too good, man, sometimes you got to step back from that trade. But, um, anyways, I don't want to see, my lawyers will say that. Yeah, I'm tryna get the highs of the pre-market session, right?
9 53 19. How much else you can say about that? I don't think we're going to fill the gap. We don't, I don't short stocks making new all time highs, ever. Rocket ship mode right now. No blue skies, herd. I don't like chasing by like Shorenstein. I mean, three days it goes. Joel, you have sheriffs, still your wholeness forever you to the grave with your sheriffs.
We can't afford to pay that tax bill on this thing. Now it's all gain. So you're stuck in that. You know, where he, when he get up too much, it's like, okay, I can never sell now. Cause they can't afford to pay the tax. What, uh, what is it? H T Z a it's like 25 letters. I'll tell you. And because it doesn't trade on an exchange trades OTC, there is no, no it's H T Z H T Z zebra and 24 69, the clothes there's some bulletin boards, somehow trading at 26, 27, an odd lot went.
I'm not sure what those are lately or what that is. I know you see that sometimes on these posts. I don't know, looks pretty real. I know it's an odd lot that somehow was on bulletin board posted there, but I would think. This is good news for her. So I would think if you own shares, obviously OTC, Amex. Um, I would think it goes up on this, honestly, cause I, I liked the angle.
Don't you like the angle, Joel? Yeah. I mean, it's a, it's definitely, if you want to run a car and he doesn't want to drive a Tesla, you know, why not? What are they supposed to get on DNO? Oh, that's a good question. I don't know. Here's what I do know. The purchase of a hundred thousand Teslas represents for Tesla 4.2 billion of revenue, but that's all we are.
This is the light on details. It's a great question. How are they paying for it? All we know is they're supposed to be according to Bloomberg proceeds, according to Bloomberg, supposed to be delivered over the next 14 years. That's what Bloomberg reports. This is a, uh, yeah. Heck you don't even have to need to rent a car.
You just have to want to drive a Tesla for a little while. Right? I mean, it's a great idea. They've got Tom Brady. This is a win-win for Hertz. Yeah. Well, what was the calm Brady news? It just say that one yet. You said he's like, they're going to be their campaign spokesman for the they're going all in all in.
They're going all in. I kinda like it. I kinda like it. I'll go with it. I kinda like it. It's kind of genius, but I'm not buying Hertz probably, but good for Tesla is no doubt. It's good for Tesla. I think it's good for Hertz as well. So we'll see what materializes. Um, it's a big move for Tesla this morning.
It's up 4.1%. We've seen precedents when you get a big contract, sometimes you know, that gains can fade, but the things that all time highs, the story is hot. We're in a retail driven market, which is being driven by stories. So as we can see, obviously from DWC, if that is still the case, so hard to be bearish to stock valuation, doesn't matter when the story is hot and tells the story has never cooled off in a decade.
So you don't have to worry about valuation on it. At least at this point. Short-term target 30, 15 a year, October 7th high. And then that's. Yeah. That's not even the old time. I, yeah, 35 is the old time high. It came when it came out. Yeah. So those are short, obviously. No pre-market trading spoons. Just moving up towards that high from Friday right now, we're up seven, three quarters at 45, 44 and a quarter.
This is, this is what test I can do though, because on Wednesday closed at what? Nine, no, 8, 8 1 8 58. Uh, it closed Wednesday at 8 63. When it's breaking out to new highs, I don't fade. Sometimes the breakout can be a fake. I'll tell you I don't fade Tesla breakouts. And if you were brave and dispenser to your 0.6, seven days ago, this started breaking out through the triple top at 800 and it has not looked back.
And if you're playing that breakout, you took zero heat on this we're up 150 points in a matter of seven trading sessions. So congratulations to the balls, Tesla count, killing it at least on from a stock price. Yeah. That's exactly right. Okay. They all want to talk remark. We get talk. So we're going to have Tim croissant in a few and Jason will be on at some point as well, but yeah, let's talk that stuff.
There are, there is a never ending. It would seem a never ending a growing list. It constantly growing the list of stocks that seem to be either related or have rumored, probably not true relations to the Trump's back DWC. Right? Last week we had fun where, and, and now, uh, and there's others as well. And now the one today is mark.
I have yet to, to find any tangible. Proof of anything that there is any harm remembered. What is being rumored on social media? What is the driver? What is the headline here? But they got something cooking up with DWC. That was what the rumor was. You chat. You want to help me out? All I saw was that the CEO of remark, which is ticker Mirk, uh, is, is friends with like Donald Trump Jr.
But I don't even know Chad. So some of this stuff is literally just made up on social media. I'm not joking. Some of it might be real. I don't, I have no idea if this is made up or real, I'm just saying. That we're in this market environment where, you know, obviously anything to do with Trump and DWC right now, we saw Phunware last week is going to get bed.
So somebody either knows something or started a rumor. We don't know anything. So we don't know if it's true or not, but wow. The stock, which was in the gutter and basically at 52 week lows two days ago at like 75 cents 90 cents is bailing out every bag holder from the last two years because it's stock.
Obviously you had the meme run back in 2017. Well, I had the meme on, oh, no, it was a burst that I had the COVID run. This was, this was the one that was going to do. Wasn't it? Remember, we were talking about this and wasn't Portnoy in this too, mark. Wasn't it like a, something with the 3d cameras or without not with, uh, no.
With the infrared, not 3d cam with infrared technology testing for COVID. If it was, it had to have been back in February, but I honestly don't remember. There's always a stock like this, like Kenny was saying, there's always something that gets hot. I mean, social media is a driver of price. You have to respect it.
Whether you believe the rumors. You have to respect it. We did a, you know, we did a session on our educational event a week and a half ago talking about, you know, how to play these things. And the big thing that I was writing on the screen is Sal your peanuts. While this circus is in town, don't forget to sell because a lot of times these stocks come back to where they came from.
We don't know where the top is, but when a stock goes from 75 cents to over $10, how high did we get Joel, over $10 in the pre-market I saw almost a 10. So just, just under $10, those are huge gains. I mean, these are windfalls. I mean, professional traders are coming in and grabbing fractions of a percent in a lot of trades.
You're grabbing three, 400% on a trade overnight. I rang the register and you know, maybe you don't get the top, but it may be a sell too early, but at least, you know, you're locking into at least sell some of it. That's that's, that's how I approach these things, because what we say is in the law. A lot of times these storied stocks come back to where they were.
So, I mean, last week, obviously we saw on Friday, it was fun. That was an unbelievable move. This was a meme stock or a stock that was, you know, actually, I don't know for the meme stock, but it was a stock that was that God hot back in like February when everything was hot and had been leaking, leaking, leaking.
And then all of a sudden, just boom, it goes from five, from a dollar to $24 overnight, just incredible movement. Um, obviously, you know, it's trading up what happened on Friday on Friday. This is, this is the other side of the coin when you're in one of these, it's all fun and games when it's, when it goes to 24, but when it halts at $18, right.
You don't sit down. And the thing was with PWAC it halted? What? Like six times on what Thursday was, whatever the point was. It took no heat on the halls, no heat on the house. It kept going higher, but we knew that that's not always how the game works. So Friday you're in fun. It's all fun and games. You're at 18.
Boom. And then where does it, where does it reopen at nine? Wait, I gotta open reopen that eight box. No, actually they didn't do that. It was 750 can reopen anywhere Juul. It's it's once you come, once you go. And, okay, so let's talk about couple points here. One is, I have said multiple times, you know, in the public that the limit up limit down circuit breaker systems do not work when, on these smaller stocks, when you have material news or when you have, you know, obviously a social media run on the stock.
I mean, DWC, if we go back to the Friday morning, trading was trading completely fine. And the pre-market, you know, it had a market. Yes, you're going to get more volume when you come into the regular session. But as soon as it opens it halt, because then the limit up limit down circuit breakers, the halting system, the mechanism is it doesn't apply in the pre-market doesn't apply after hours, but as soon as it opens, if a stock moves a certain percentage in a smaller fraction of time, they haul it.
This. Because they want, you know, liquidity to come in. What this does is disrupts the natural trading. When you have this kind of volume coming into a stock. So you have all these little incontinuous at halts and then there's a new auction and halts, and then there's new auction and then the halts, and then there's basically a new auction as it reopens and the new auction reopens at the new price.
It's very disruptive. Um, people are getting punished. I mean, anybody who has long fun where, when it was starting to come back in, uh, you know, like when a halted, I forget where it halted $18 while you were saying Spencer and a reopens at eight, seven, I mean, you know, or 7 92. You're getting hit really hard there.
I mean, it's not giving you a chance to even, you know, if you have a stop in there at like 15 or 14, you're gonna get executed right down at eight. So it's so disruptive. And I hope if the regulators, I know there's some that listen to the show, sometimes the regulators are listening. We need to address the situation where the limit up limit down circuit breakers are completely disruptive to some of these smaller companies.
They either need to widen the bands, or they did not put them in place for the smaller companies. I get it on some of the major companies, but some of these smaller companies, material news comes out and then the stocks came in priced to where they want to go. I've seen instances where, you know, you have a biotech company comes out with really good drug news.
What can only allow it comes up middle of the day. It's only allowed to go up so much before it halts, so will go up. Go up and down the hall for five minutes. Cool. And then hall for five minutes, I've seen it do it like a dozen times. Some of these other ones, as it's trying to get to where it naturally wants to price, but the pricing mechanism and the limit up limit down circuit breaker, won't allow it to naturally happen that the process and the pre-market, it doesn't have those.
And if you look at fund right now, it's trading very smoothly. I mean, crazy, but at least it's smooth. It's got a 4 cent market it's tidy. As soon as the stock opens, it's going to haul and it's going to get disrupted and it's going to make a mess on it again. So we need to adjust those circuit breakers or completely maybe even try it at some tea to maybe even possibly remove.
You know, for some of these smaller stocks, because they're completely disruptive on some of these smaller issues. I just want number only for fun, 12, something's going on at 12 here, at least I over the last half hour. So if you're looking for more upside, uh, to seller a 12 currently trading 1128 support, perhaps at the close at 8 74, but it's pretty hard to do technicals.
This one. These are, did this one, all these other ones are a little bit above my pay grade. And, okay. So what I also said, just to talk about, you know, this is not my cup of tea, but what I will say is we've seen this again and again, and again, You get the big move, the boom, the, ah, it's awesome. And then, you know, you come in and obviously, you know, you kind of crash after that.
They have trouble getting back to those highs. So like on a fun where, you know, and obviously anything can happen. We know that, you know, and then in the case of DWC, I was dead wrong. You know, obviously in the pre-market it hit 22 and it came all the way back down to 10. And I'd not think that 22 was going to go back there and went to 175.
So these things can still do anything, but it seems like more often than not once they have the big boom, like the big move, and then they crash like 50%, they struggled to get back there. And then the slow and steady leak happens over the course of the next. Month or so, so you got to get out one while the getting is good.
And two, if it does have the crash afterwards, he got to use those bounces to lighten up. In my opinion, I would say you're using those bounces to light. Now you also said on DWC on whatever, was it Wednesday or Thursday who even knows that this, I think it was Thursday. You also said when, and I remember this and I think you're right.
When these things, stocks do come down, if they don't come all the way down, if they maintain, I don't know if they can hold half the gains or whatever. This is what happened with, with GameStop, right? If they owed half the gains for like a couple of days, then. That's a signal that maybe there's more to come, that's going to be another bounce.
Exactly, exactly. But if it, if it falls 75, 80%, the odds are not in your favor. Um, and some of them do come back. I mean like the fun, and it's such, it's such a difficult market to predict too, like, and that's what we should take it. The conversation too is like, how do you find like the next fun where, I mean, you can look and you can look at Reddit and you can say, okay, well what's trending on Reddit.
What's the hot stock, but you can go buy some of these hot stocks that are even trending. And sometimes they don't go. Another person was saying, you just go to the bay gainers of the day. And it's always one of the big gainers that go. But if we look at the big gainers today and we can do that screen right on Benzinga pro you can bring it up.
Maybe you should use that exercise to bring it up. You can bring up the pre-market gainers and you can look at what everything's trading up. And there'll be a, you know, on any given day, there's a penny stocks up 2030, So, I mean, you could go and you could try to buy those, but a lot of those don't continue to go.
So it's a matter of finding which one is going to be the one that explodes three, four or 500%. I mean, it's difficult to figure out and chat, you know, if you guys got answers for these questions too, um, you know, maybe, you know, we can ask the chat as well, but you can see here this morning, you've got, you know, the S is a penny stock straighten up 37%.
I'm just going from that list. I, this is the first screen to look at it every day there are between two and five stocks up, either 30, call it 35% or more, scroll up a bit too. You're not showing the very, I was like, cause Mark's not there. And we know Mark's the high one. There we go. So you can do this right in your Benzinga pro you can go show them how they do it because a lot of our subscribers have beds.
So this is your bedroom. Gotta do it. This is your Benzinga pro home page, right? This is your, this is the page everyone gets to. When they go to the platform, you go to the movers. You go to the movers tool. This is how you do filters. You filter for pre-market and I have no price filters and no marketing.
And I go to session cause that'll show you, what's moving the last five minutes. Maybe you want to know what's moving the last five minutes, but I like to, first thing I like to see is what is up this morning? What's happening. So I do, I do. I do too. I do one just for gainers. You that pre-market session. I think that blue thing, boom, we're done.
I'm going to go here on the left and I'm gonna do another movers. Whereas my movers, uh, there is another movers tool just for losers, losers, pre-market session, boom, gainer left losers on the right every day. There are, I, it's more like a dozen, every other. It's like a dozen of these things. Making huge moves when you're doing it yourself, folks, you know, check out the volume, check out the average daily volume, you know?
Well, I am, if it's up on a hundred shares, you gotta, you gotta look in and we're not saying you can just go buy all the movers I'm saying in all, like you buy all those movers. The top 10, a lot of them are gonna go to. So it's a, it's an art to figure out which one is actually going to continue. I mean, if it's a hot storied stock, sometimes they do continue.
And sometimes it's a matter of it continuing from its move on Friday, which is exactly the case. In the case of mark, you had the explosion on price on Friday where the stock doubled from 75 cents to $2 closes was probably up after hours. I didn't trade after hours because I had gone away. I always do, but, um, I was away.
Um, and you know, obviously you can see the continuation of the move. So a lot of times it's the previous day's action that dictates, you know, a follow-through move on the next day as well. But you know, there's opportunities in here, but I'll tell you, it's still difficult to figure out. You could buy all those stocks.
And a lot of them aren't going to go up and some of them might go down. Most of them are going, are not going to work. But if your objective here is to. What the trending stock of the morning is this is what I would, that's what I would do. And here is why the, the viral economy is so decentralized. You have Twitter, hugely influential.
You have wall street bets on written. You've read it. It's not even just walk through it, just read it because there's a dozen of these influential subreddits. That's hugely influential. You have discord also hugely influential. It is impossible. It's funny to turn up on a needle in a haystack. It was w what it's like to try to find where a rumor came from.
You will not be able to find it. It is basically impossible, but you've got Twitter, Reddit, discord. I would love in the chat, uh, to get y'all's opinion, which of those platforms that you think is the most influential, because they all move stocks every single day. Um, and if you're trying to find out why, I mean, Eventually you'll you'll, you know, the rumors always come out everywhere, but I'm trying to find the sources.
It's difficult trying to find what, like the trending stock of the day is just skip all that. What's the Reddit stock of the day. Cause it's always, I mean, AMC is all. Oh, and Kim is always on there and then it'll go up. Everything you own is making a great point, YouTube as well, hugely influential. Right.
Um, just skip, just skip the trending and just go look at the performance what's up and what's down. That'll tell you all you need to know. Um, but yeah, what I find interesting here is the rotation from. Your, you know, and we, we talked about this a couple of days ago and, you know, I actually tweeted it out.
Are you going to start to see weakness and AMC and GME, and some of the other meme stocks as money comes from those to go into chase the new hot thing. And it's exactly what you are seeing. AMC is down about $5. I tweeted that two days. I think it was Thursday. I tweeted that, um, you know, it's that 35 63 and you've got GME obviously selling off as well.
Um, it's very interesting Joel, that, you know, I, we talk about this money, the speculative money that isn't interested in trading apple, it isn't interested in trading may have calves. It's interested in the next hot story. And as it moves around this speculative capital, um, you know, it can show, you can see weakness obviously in stocks like AMC and Jamie cause that's speculum capital.
It's moving into DWC all of a sudden. Yeah. So I don't think it's a coincidence that GME and AMC did not have a good couple of days as GWAC explore. So you have a lot of traders, like professional traders, like me, I don't even usually touch any of that stuff because it's too unpredictable. Um, but you know, you have other traders that, you know, just trade speculative names and are chasing that and you have algorithms, you know, I shouldn't just say it's, it's retail.
There's a lot of professional algorithms that just trace that stuff too. So they'll move the money out of this and then move the money over into that. So, um, the rotations within, you know, even the meme world are interesting as well. Um, so you've got to respect all that too. I mean, right now it seems like a lot of like sub dollar stocks are the things that are going this morning.
I was looking at the movers because it's all of a sudden, it's like, well, what's the next mark. People are trying to get rich fast. Everybody wants to get rich fast. Right. You know, that's the whole, oh yeah, let's get rich fast. But I mean, it's, it's tough because you're buying like little lottery tickets, little lottery tickets, and some people are gonna win the lottery, but a lot of people aren't.
So I told capital to Dennis, I mean, for you, uh, you know, trading all those different instruments, a hundred, 150 stocks with your edges. If you got something on like that mental capital, you're looking at it. I have to babysit that stock. I can't have a whole bunch of other positions and doing other things and doing pairs, trading and relationship, other based trading, you don't have a whole pilot positions on and then have something like DWC on because DWC is moving so quickly and it's moving so much.
That's babysitting. So, I mean, if you're only trading one stock, maybe you can babysit that one. But again, you know, you get caught up in these halts, you know, here, you have people who are in fun, you know, and it's, it's looking like awesome. It's looking like a lot of fun, fun pulling the pun fully intended there.
And then all of a sudden it starts to turn the other way and you can't get out and it's in a limit up limit down it's on the down hall and it reopens a box on you. And I'm like, what the hell just happened? Burned. You got a thousand shares. You'd get a chime date for five bucks on it. And then it opens down 10 bucks on the hall and you're like, well, I don't even know what to do with.
So these are high risk.
Well, Joel looks at Kodak, uh, because it's it's 8 36, Jason, come on show. Cause I don't know how much longer I can. You can't take the suit. It's Jason going to be wearing a suit too. Jason is wearing nice clothes. Tommy's got it.
The cleaners, man. I got a cleaners. Spencer. There's a cleaners at 12 and Northwestern two for one. Tell him, you know him. I think I've been to that one. Oh, there's literally. Company meeting right now that I we're not in, cause we're here with you all, but uh, let's bring Tim philosophy. Is it a coincidence?
They didn't want Spencer at the old company meeting is that it's not a purely intentional.
Tim good morning, sir. How was your weekend? Good, awesome. Up here in the mountains and, and apparently, Joel, must've had a good weekend because he's wearing a tie. Oh no, it's all fancy. Now. We're what we're assuming now. Apparently, Tim, I don't know if you've heard. I liked this time for the flu. For those of you who came in, I didn't get that memo.
You came in late and missed the news. Jason was on, was on CNBC this morning. Uh, Berenger capital has acquired a majority stake, uh, in Benzinga. Wow. That, that knew that was the news was on. Oh, they're turning us into suits. Joel thinks I'm still going with the t-shirt looks. I'm going to hold out, knock in the calm as long as I possibly can, but Joel's already full suit mode thrown in, thrown with thrown in with the corporate guys.
He's corporate. Now I'll give you guys the inside scoop. What actually happened is we were going to do a split. And we w we, we went to a vote, a company-wide vote, and nobody wants to do it now. I'm just kidding. That's not what happened, but it didn't get a vote on this. But if that did happen, it would have been funny Johnson though.
I was like, I didn't get to vote, but I was going to ask this question, but I'll pose it to you as well. We were just talking about trading halls. Um, here's the question. When a stock has halted like that, for volatility, we're talking DWC or font or fun or whatever. Okay. How, what controls, where the stock opens out of that halt supply demand, right?
The same rules apply. It's wherever the national best bidder offer is. And the price will be determined by the fastest automated quote to get to it. That's the law. The law says that a marketable trade has to flow. To the best available price. And that's why somebody like Citadel will always price the market on the open.
It's the same thing. People don't realize this, that on the floor of the NYC, it is against the laws, uh, okay. Against the rules that the N Y S C itself has established to open the market with a customer order. It will open on trades from one of the Ford DMS designated market makers, which are Citadel Infinium Verto and GTX, I think.
Right? So those are all proprietary traders and that is who will set the bid or the offer. It will be the offer that always takes precedence, uh, because that's, again, the rules of the market, the offer will be the highest price in the. Because the offer will be higher than the bid. So that's what we'll say.
It's basically just coming out when the stocks you're gonna have a new auction, you're getting new little auctions all the time and all the bids and all the offers come in, obviously, you know, in some are going to be marketable depending on, but like Tim says, you know, they're going to look at where that auction clears and that's where the opening price is going to be.
And then it's going to continue to move from there. What I was arguing before he came on Tim, is that these limit didn't limit down circuit breaker does not work well for these smaller stocks. It's very disruptive to the natural trading. I get it. They put these in for people who are new to the markets.
This came in after the financial crisis, because we had, you know, they didn't want stocks trading all the way down and after the flash crash, especially because they didn't want it. So that was really it. I shouldn't say the financial crisis financial crisis when we started some regulation, but then the flash crash of May, 2010 was, you know, a May 6th, 2000.
I believe it was 2010. Yeah. I'm losing track of years here was where they said, okay, well, we can have stocks trading from $40 to a penny, you know, and just instantly, because there's no bits, we need to be able to stop stocks going down too quickly. So that works well, you know, and in the event, you know, like we are Microsoft should never, ever, you know, some of these stocks, Accenture, I believe trade all the way down to that, that limit up limit down would have stopped that from happening.
So that was a nice bandaid for the problem. But the problem is when you have these smaller stocks, which are subject to the same rules, yes, the bands are wider for some of the smaller stocks, but they're obviously not widely. So when you have material news on a small cap company, the price can't go to where it naturally wants to go right away.
And a lot of times what you see is the boom, the up the hall. And then it wants to go in the boom, the up another hall, because at what doesn't even get into clear, as high as it wants to clear. So, because they put, you know, and obviously that's all to do with market structure behind the scenes, but what is a better mechanism?
I get, you know, the intentions of trying to protect the retail investor. But we had an example on Friday, Tim, where Phunware started turning the other way, PHQ and went from $1 to like $24, started turning halted around 18 and reopened at eight. I mean, you catch so many people, the stock reopens 50% lower because everybody's like, I got to get out now at the same time.
And that happens to be the low. And then it starts to bounce back. I mean, what is a better mechanism or a better solution? I'm this I'm really thrown under the bus because I don't even know if I know what the solution is, but I just think the disruptive, we need to come up with something different or we need to remove the limit up, limit down circuit breakers, or some of these smaller stocks.
It's very difficult. Uh, you know, I go back to the cattle auctions of my youth. I grew up on a catalog, a cattle ranch. And so we would take cattle to the auction. And if you didn't like the price that the buyers offered, you could buy your cattle back, maybe that's and literally that's what you would do.
You would, you would take your cattle off the market. So maybe that's an option. Maybe if Phunware doesn't like the, or whoever owns the stock, doesn't like the price you get to pull your. Uh, your bidder offer, but I don't know, Dennis, it is, it's a very challenging feature of a continuous auction market.
That's the problem. The problem is a simple problem to understand it's that, uh, this is not the kind of auction where everybody shows up and there's a piece of art for sale and you bid for it. It is that there is a relentless, uh, train of bids to buy an offers, to sell in increments of, you know, whatever it is.
You could put 25,000 shares in there, but the likelihood that you're going to match at that size is, is minuscule. So that's the challenge. It's a, it's a flaw in market structure as is what drives. You know, we could talk about that too, but I don't have a ready solution. You're right. About the, the, uh, the Genesis of that people used to put in stub quotes so that you would put in a, a penny, you would put in a penny to buy because who's going to sell their stock to you for a penny, and then you'd offer to sell it.
They sell it for a hundred thousand or buy it for a hundred thousand and we'll sell it for a hundred thousand. And so then you'd trade between those. Well, then everybody vanished except who had the stub quotes. Yeah, liquidity. Literally there was no beds. That was a class. It wasn't a lot of selling pressure.
It was the lack of liquidity. It was the fact that we had no beds in the market. No real bad. Dennis you wrote about Rambus, right? You, um, I don't know. I probably had mentioned this on the show before, but in January you had that incident in Rambus. I mean, we saw it in individual stocks where you would get this liquidity, you know, and maybe this is a good segue into, you know, what Tim's talking to.
I mean, we had a, from Laval when we had a floor, you know, and, and Joel is a market maker on the floor. I mean, you, you, you get, you know, you had a different type of market where you had affirmative obligations and what those are is that a market maker has to give you a reasonable price. I mean, the specialist on the NYC for a lot of people thought that specialists were correct, but you know what?
They would come in to at least give you a price, a reasonable price. What happens when it's all moved to, you know, high-frequency automated market-making systems that don't have affirmative obligation. They don't have to give a price. If the going gets tough, they just pull all their bids. And there's nothing left there.
And I mean, that's really, you know, the issue is that you don't have those affirmative obligations anymore. And you have these vacuums of liquidity where there's just no bids in the. So, what are your thoughts? There is, you know, comparing the system we used to have with the system we have today. Well, there is still an obligation on the floor.
Uh, the DMM to, to effectively be 10% of trading volume, however they're paid, they're paid 3 cents a hundred to do that. So it's my theory. I can't prove it, but that, that is what causes the bursts at the. So they want to get their 10% out of the way, because they don't know what's going to happen the rest of the day.
So you get paid for your 10% and now your obligation is done. If something goes wrong, uh, you can pull your quotes. So it's, I just think it's important for traders to understand that it's a fragile market. That there's a, there's an awful lot of demand that comes from people who don't want to own things.
And if you don't know that you will have an unrealistic expectation of what might occur just as it is with wet. So the reason the whack is a meme stop. It happened for the very same reasons that GameStop and, uh, AMC theaters. And so on, went up a thousand percent it's because Citadel and various other market may, it's not their fault.
You know, I've been into these Twitter exchanges with folks who believe that Twitter Citadel is nefarious. Uh, you know, I'm Citadel is a major force in the markets and it's after its own self-interests, but it's merely following the rules. And the rules say that if, if you're making a market in a stock, then you have an obligation to be at the bid and the offer for orders of a hundred shares or less.
Well, if they keep going up, Citadel is going to manufacture stock until all of those orders are filled and there's a nexus at which point they will stop doing it. And the stock will go down and that's what occurs. So traders, you have to be aware of this, that it's not limit. The prices are not limited to the supply of the stock available.
There are only 42 million shares of de whack, including the warrants. And yet somehow it traded 430 million shares times. Right? A part of that is market-making trading the same shares 10 times before you even have a chance. But the, the big part of it is there will be stock manufactured to fill a tray.
That's the way the market works. How is that possible? Because the sec said, thou shalt make a continuous auction market makers. And they said, we can't do that. It's impossible and less were exempted from the requirement that we locate shares to short. And the sec said, fine. We've talked about this repeatedly before they're exempt from reg S H O rule 2 0 3 B2, and they can create stock.
So realize that traders you you've got, you've gotta be, I that's why I say supply and demand matter. If you know where the we're going to see it on, on market structure edge, we will know when stock is being manufactured to support prices because it's measurable. So you want to be informed and not the second.
You know, you go read that game, stop memo from the FCC. We talked about it a little bit last week. Uh, Spencer, you and I did. Yup. So the sec pointed this out, they said, look, you have to understand market structure. How does the market work? And if you don't understand it, it's your own fault effectively that memo says we're not at fault because these rules are necessary to support the market.
We have look, it's a, it's a Marvel of technology. It's an extraordinary thing that we can support over $50 trillion of market cap with this system. But it's also very fragile at any moment. Quotes can crumble and vanish. And so you have to be aware of that. Yeah. The takeaway seems to be, you can, you can hate the players, but in Tim's in Tim's view, hate the game.
Yeah, they hate someone hate the players, but I hate the game more because it seems to be where the, uh, yeah. And this is not the only area where this is a problem where you can, you can copy the same exact argument over to, to the, you know, what the fed was doing with regards to trading individual stocks.
And, well, we didn't, we didn't break the rules. Well, that's the point. You didn't, you didn't break the rules. That's the problem. Um, yeah, so, so there's some fun. Well, I mean, you can, you can absolutely see what happens. Uh, it will jump into some of that stuff. Yeah. What you got and we'll look at something that maybe you should own it.
I'm not saying that you should, but it's very, it's fascinating to see where does money go if the market stops rising by the way, statistically, and I'm going to share my screen here, statistically. Uh, so we measure supply and demand on a 10 point scale. And so I was looking at this data over the weekend and statistically year to date in 2021, the market has produced 0.0% returns at levels above 500.
I guess where it is 6.3, meaning that if you take the times that it's above 5.8 and aggregate them in 2021, the return is zero. All the returns lie between four. Cause it's not been below four in 2021 yet. And 5.8. Well, you don't want to be buying the market when it's 6.3. Exactly. You shouldn't be buying the market.
So what should you buy? Well, you should buy the stuff where all the low volatility money is going to go. If the market starts to crumble, we're willing go well, that's measurable and I'll show you. But, uh, here, so here let's look at, let's look at fun where just, just for the, since we came to fund for fun, just for fun.
So, so here's the massive service. And fun. Right? So it just exploded here below is short volume. That's the percentage of trading volume coming from borrowed stock. Well, people already knew right. At options, expirations that there was a high probability that this would occur. Now, how would they know that?
I mean, that who's they to begin with and how would they know that? So see where my cursor is. This is short volume. That dotted line is the trend line for short volume. It is now over 50%. Over 50% of trading volume in Phunware is coming from manufactured stock. I mean, nobody, no holder has to buy or sell for the stock to go up 500% because market makers will merely manufacture it and traded at higher prices.
So somewhere around options, expirations peop the machines who are making markets and options and the stock. Now, what did they know at that point? Well, maybe people started betting on options and so these machines have the same kind of out. We run great algorithms. We have a pretty good idea where stuff's going to go in five day increments.
And so those algorithms told Citadel at all, that we want to manufacture some stock and then we want to be long right here, right at the end of options, expert. So the 21st was the first day clear of options, expirations and well, the stock explodes. Well, new options traded last week beyond the 20th, I think so that, how is that possible?
Well, they're market makers. They consume the order flow from options and from retail shops, they're going to know, wow. There's a lot of limit orders coming out, us out of Robin hood and that, uh, Ameritrade and out of Schwab. Okay. This thing could pop. All right, well, let's make sure we're on the right side of that trade.
Cause we're proprietary market makers. We're not serving customers. We buy order flow and then it becomes ours and we can do something. That is measurable. We could go look for that kind of a feature in the marketplace. I could show you another one where that's condition sort of exists. Uh, but, uh, that's what happens.
So traders, you have to be aware that that condition exists. And when it's a rocket sled like that, when cinema, when, when prices zooming and sentiment is already peaked, set sentiment was already peaked the day before the supply demand balance had already been hit. So it's going to drop you. You've got to know that if it had hit the ceiling hit 10 and continued going like Tesla, then you're okay.
If you look at Tesla, uh, here's Tesla 10 and top 10, it's only 40% short. There is no excess supply of, of Tesla in the market. That's everybody had to cover and it's still a 10. Can that price go higher? Yes, it can because there's still a supply demand imbalance. When do you sell, when they're sitting up at the 10th, do you like sell your peanuts when the circus is in town?
Like just get out. Cause you don't know when it's going to end or do you ride it? Like how, when do you, and this is a question for me and I've struggled with this for 22 years. I've been great on entries and I've always kind of stunk at the accidents. I always get out too soon. What, when, when is the best time to do.
Uh, so I prefer to sell a, when I've achieved my return and B when supplied, when the supply demand balance changes. So if, if, if short begins to rise, then get out. Maybe we should look at shops. So I sold shop on Thursday, so I bought it on Tuesday and I sold it on Thursday. I bought it at 1446. I sold it at 1498.
Now why? Because I can see this. It has a very short run. When it gets to 10 in shop, you should be out statistically. It will not continue to produce returns as it sits at 10. Why is that? I think it's because it's very risky to make a market in a stock that is trading at $1,400. So that was my, you know, it was that's.
That's how I think about it, Dennis, by the way, you should also think about intraday. So shop is 3% volatile every day. Do the math on that. That's a movement of $45. You got to know that if it moves more than that, you're now outside the intraday volatility and the market making is going to break down. I think about that stuff.
I mean, I I'm, I'm all about the math of the marketplace and taking your gains, not risk, right? Take gains. Take gains now. Chances. Yes, that's it. Yep. Tim cross joins us every Monday. He is the founder of edge. Good to see you guys. You too. Hey, it's 8 55 guys. Uh, I think that the all hands meeting is about to wrap up.
I hope. And I'm going to try and buy it from time and hopefully we can get Jason on here, but in the meantime, we'll do some ticket time. The only news I saw though, that had that broke in theory, might've sent me, it was Madrona. They came out with, uh, expected data that, uh, the phase three trial of their COVID vaccine in kids ages six to 11 was tolerable.
Um, and so they don't care boxy news anymore. It spiked on it don't act like it. Didn't no two bucks is not a spike on the dirt. That's not even up really much more on the relative. So you get these spikes, but these spikes again, you know, it, it there's just no good response. It seems like to any of this, say we're so immune because we get vaccine news every day.
The market just thinks of it as a non event. Um, we used to get, you know, if you go back three, four months ago, this, and this is just it's, it's getting desensitized to this news now. Um, vaccine stuff we've heard about it so much. So we're going to get an approval probably for five to 12, you know, by the FDA.
And I know there's a panel discussing it today and in all likelihood stock get a little pop on it, but those pops seem to be short-lived. So. You know, the trend is not your friend here now, Madonna. Um, do I still like the company long-term, maybe it's always been a valuation issue for me, which is why I've never put it in there.
You know, I struggled with it being worth as much as merch, but you know, if you know, I don't know where we're going with. COVID obviously there's lots of different things to consider, but when the market, you know, responds to me on good habits, Does it not the stocks I want to be in. I didn't even get to Friday's high on this one.
You just got to pop a little bit ago to 30 to 80. So that'd be your short term targets as we've leaked over $3 from that level Friday's high as well. It done 35 75. And then just draw a line across your three 40 area. If you want to purchase this on strength, a lot of people stuck in this one and theoretically support at the close Friday's closing price was 3 26 54.
And yes, chill shows on Hammad. Uh, the majority I have my was expected today. Uh, not a surprise. Uh, let's look at Peloton for Chrissy. She asked about PTO and here, um, she asked about two stocks, but this is the one that looks less ugly, probably. So the Peloton. Relationship. And I gave that obviously, you know, a week and a half ago in our educational event.
Um, the relationship is so strong here. I mean, you put those two charts on top of each other and obviously the company is not fundamentally really anything to do with each other, but they're both classic stay at home place. And if you lock these two stocks, just move together. So you've got to use those as indicators to each other.
Zoom, the big level of resistance is going to be 300 Peloton. The bigger level of resistance is going to be 100. So we've come back a little bit. Um, you know, are these trends broken as a story over the, I don't know if the story is completely over. It's actually had a pretty good little run here and showing a little bit of life, but you know, it's not the hot story of 2021.
Uh, pair of highs at 95, even ahead of that $100 level, not to talk against my book again, but
Lisa did ask me the other day. She's like, when are you going back on to Peloton? And I would say, well, probably when we get snowed in and I can't go to the gym or something like that, but dot yeah. Para highs. I just not perfectly at 95, but that level is just jumping out to me. Okay. So I have just received word that Jason arrives.
Nick is not in the building. Oh, what's going to be tough to get them on the show. So, um, and this is a hundred percent true story. Uh, apparently this morning, Jason pulled out of his driveway and drove away with his computer on the roof of his car. And. He was pretty excited. That is so, so Jason is not here.
So Jason would not be joining us because he's not physically here. I just got to get the smashed up at the smashed up laptop on the side of the road, his wife was looking forward and w. The last I heard unable to find it. I think now he's gone to look for, I don't know, but so Jason's not here. I said, Jesus is not coming on.
I know that back in high school, I can remember I did that back in high school with my textbooks. And what happened was you were in my car and then I run it sooner. Spencer Murphy. We could, maybe we can get Lucas. Is that a constellation? I get Luke, I'll be right back. He told me to go get Luke. I'll tell the quick story so I could see how that can happen.
You know what happens? Isn't, Jason's really busy on the phones, obviously, which day for him, but you know, you've got your laptop, you've got your textbooks, his textbooks back then I was in high school and my hand, and somebody starts talking to you, you know, at your car. So I sat at the car, I sat the textbooks on the roof of my car and I'm talking to the body or whatever.
And you know, you're shooting the crap there for like five minutes. And then you just get in your car and start driving. You know, and all of a sudden, you know, you're alive, you see the textbooks go. I was like, oh, I forgot those on the roof. So that's how it happens to get distracted. So Jason, we all do it.
It's okay. Yeah. Having a big day. So we'll give you a pass and everyone, every one of the wow, more people have, uh, come out and confess to the same thing though. You just get distracted. You'll be like, okay, I'll put this here for a second. And then all of a sudden you get distracted. You want to know another one too, that I did this twice.
So maybe I'm susceptible to this so I can really relate to what Jason's done here. But I can remember, I was like 19 years old and I had like a case of beer, you know? And you're like all excited for your case of beer. And I put the case of beer. I sat it down and, and I don't know how, but I sat down like near my, in front of my car and cause my phone rang and it was phones.
I had to go inside to get the phone. So I sat. So I was just putting the beer in the car and I was, I was pulled into the driveway. So I put the beer, I was going to put the beer in this. And we put it, but the phone rang. So I just sat the beer on the ground, behind the car. And then I ran inside, answer the phone, come back outside, get my car and back over the case of beer.
Oh no. If I go to the case of Baron, you want to know a tough, those bottles are out of the 24 beer bottles that were in there. Only two were broken. I drove over with a car. That's pretty impressive now. So anyways, it can happen. Yeah. I I've heard what happened with coffee before. I've never, never with a computer.
Um, okay. I think Joel just went to take his suit off. Honestly, I do. Luke is, I dunno. I think Luke is in the bathroom or something. So I think we're going to have to end the show now. Unfortunately. Well, we keep the show going. It's going to continue to keep the shows going today lot. Yeah. And in the future, uh, wive trading with myself Ryan's and he will start in around and around nine, 10, he shouldn't have so around eight minutes from now, we will get Luke onto that show or Jason, if he's even whole, I don't even know where Jason is right now.
Um, we'll, we'll get someone on that show who talked to us more about what this means? Uh, I asked him the question. The important question is, am I going to have to invest in a calm? That's what I want to know, because we got to start combing her hair and wearing suits. That's what I want to make sure I don't have the Bible write that down.
Dennis wants to know whether he's going to have to invest in a coma. I can't. I ask from the new policies. I have to submit that, that question. Okay. So limited in writing for me, I'm very scared and concerned because I don't even own a suit. So I'm very scared. I don't know, unfortunately. Oh, wait a minute.
Shawl. Did you do that fast? He is like Houdini. He's like Houdini over their final four. It's just, I'm trying to get Luke, Luke, come on the shelf, high five in each other over there. All right. W w we got Luke, we gotta get him out of here quick. He's coming. Will you come over here? Come on. Let's go. All right.
We got Luke, we got Luke and Luke, the baseline setting up on pre-market prep. Uh he's. I don't think he's slept in like three days. So he's running on pure adrenaline and it's only 9:00 AM, but he's excited. We've all been here for three hours. We're we're excited. Oh, there he is. His name says Jason Rasic, but who cares?
It's bringing him on Luke. Can you hear me? I can hear you, Spencer. What is going on guys? Obviously your nation, Luke, Luke, I have an important question for you. It's very important. And I need to know, am I going to have to buy a suit? Okay. You're you're not going to have to buy a suit, Dennis. Thank you.
I've been worried about this for the last two hours. I'm like, I'm going to have to invest in the suit and not do the whole, like, all I want is t-shirts basically the only thing that will change with your apparels, that we're going to get you some more Benzinga clothes. Okay. Um, but generally speaking global comment, I mean, nothing is changing right away other than we're going to be producing more for our users.
Right. We, we did this. There are so many emerging markets. There are so many new trends. We want to make sure that we're in the position to stay on top of them. Keep delivering content in the Benzinga style of the Benzinga tone for our users. Uh, so Dennis, no suit, but yes, more will be coming. Oh, I had one on earlier.
I had to change it, but no, I just thought I'm going to hop over to pre-market prep plus, because we didn't cover any tickers today and ticker time. What a mistake, but look bad. Congratulations. Well, give us a symbol. We're going to cover w what's what's one that we're going to cover. Aw, man. We were good.
Okay. Alright. Congratulations. Look, we'll talk to you soon. All right. Thank you for coming on. I know your busy day, you've been busy these past few months, getting this through the finish line. You did great. Congratulations. And, uh, hell yeah, man. I mean, I'm just, I'm ready to go. We're all ready to go. Right?
We, we we've, we, we, we like to build quickly here. We want to get more tools out for our users. We want to get more gate out for our users. We want to keep pushing those connections. We we've, we've worked on this project for the past few months now that it's done now, now that we have the expertise in the backend from Berenger, I mean, we are going to be rocking and rolling in a serious way.
Yeah. The big thing is this is not the end. This is the beginning. This is the beginning. I don't have to wear a suit. I'm cool with that. That's all. All right. Congratulations. Probably want to say congratulations. Obviously. Congratulations to the Benzinga team. Jason has always doing a fantastic job behind the scenes.
So congratulations. I'm going to go trade my open, keep us in the loop. Keep us on. Uh, we'll talk to you guys soon. All right. Thanks. Thanks Dennis. Yep. All right, guys, that's a wrap for the show, a live trading with myself as you need Ryan, we'll start in like four or five minutes. So stay tuned for that in this video, we're going to redirect to that stream.
Please remember all the information from our show meant to be used as informational purposes, not foreign investing or trading advice, things that team caused from market structure edge as always thanks to you in the chat. Give us a like, let's go. Not every day. We, we been singing is the news. Let's get, let's get at least get like a thousand likes today's exciting stuff.
We're going to be expanding. Growing the team you want to work here? Cool. Geologists. I've been single.com. We, we, we are this big, we're going to get to be this. It's happening right now, live trading, starting in a few minutes, everyone. Good luck out there.
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