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tv   Mad Money  CNBC  April 20, 2020 6:00pm-7:00pm EDT

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>> yes, i do >> you want to share it. >> the big lebowski is about bowling. i tell you, take two interactive. back to you. >> mad money with jim cramer starts right now my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. we will come to "mad money." welcome to cramerica other people want to make friends, i'm trying nike you some money my job is not to entertain, but educate you and put it in context. call me, 1-800-743-cnbc. tweet me at jim cramer no, oil isn't worthless. not every brick and mortar
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retail certificate going to zero not every biotech will keep growing every day. that's the way it feels on a gay when oil imploded. the stock market got slammed because of it. dow losing 592 points. s&p sinking 1.79%, why, of course it's got a lot of tech and biotech. i don't blame a soul for being confused here. >> buy, buy, buy a. >> sell, sell, sell. >> the situation is, confusing we're in uncharted waters now. it doesn't lend itself to easy explanation. we have to take them one at a time because some of these are so extreme they almost feel like science fiction. like the price of oil falling to negative $37 and change today. yeah, that's right you heard me, negative 37, minus sign let's start with oil as that meltdown was terrifying to watch. at dawn crude was a buck and a half, little below 20, seemed okay by the time the stock market opened it was down to 11,
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negative whoever owned the oil last had to pay someone else to take it off their hands. next thing you know it was negative 10, negative 20, negative $37 which signals, yes, a totally broken market. [ buzzer ] how do you get this kind of action only one explanation someone with deep pockets made 9 bet oil would bounce who knows. but it didn't bounce the scalp error scalpers, mostly financial holders, not only sellers or buyers ended up being scalped themselves here's the issue when you buy futures, you have to take delivery of actual barrels. they have to find a place to put the stuff, storage space those that saved room paid a fortune to take the oil. who knows. this is mostly financial maybe even financial chicanery we do know this. very little actual oil traded.
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these were financial trades where buyers stepped aside and pretty much tortured sellers to the end. a short squeeze where buyers have to pay up and up and up to get their stock n. rather that not explain it any further because it is so crazy, we're going to speak later to russia brazil he's adamant oils are too toxic to own i hope if you watch the show you don't own any of these things. he can also explain how this wasn't really about -- if there's no price for oil look, it trades north of $20 according to next month's contract to break down how oil trades on this particular day, but i do want to step back and point out that this whole oil blow-up is emblematic of everything that's kind of awry or crazy or going wrong here so many things are broken, so many prices going haywire, every different industry the averages themselves are no longer capable of relaying what publicly traded companies are actually worth
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with crude in negative territory you can argue every oil company, every driller is effectively worthless. that's wrong many of these companies aren't levered to near term price of oil. others are well hedged while i've sure they're aghast, they're not jumping out of windows. this is a windfall for anyone with storage you can be paid to take it and stick it somewhere and sell it at a higher price a month from now. you take each one $37, sell it in the futures for $20 it didn't involve a lot of volume the oil market malfunctioned for the same reason that amazon was up on the hideous day or alibaba or vertex or shopify you know what that reason is, covid-19 the worldwide lockdowns have destroyed demand normally you'd expect actual buyers, companies that need oil
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to surface at the end of the day to take advantage of weakness. didn't happen. hey, our government could have stepped in and put it in the strategic oil reserve. that didn't happen either. there was way too much for sale for that to matter we know who didn't want any. refiners, airlines, utilities or hedge funds who have been renting space to the big cushion oil complex, or tankers. seem to be full. witness the 19% rally in american tanker, the largest company. tra at the same time, the companies that benefit from cheap oil, cruise lines, airlines, they're not winners. their weakness is the reason oil collapsed. people aren't going out. people aren't traveling. it comes back to what everything comes back to you can, the virus. covid-19 has robbed all the traditional buyers of demand and, therefore, of their money if you're united airlines, do you really need any near term oil? what you snead is a bailout from the government, some money is what you get where would you put the oil? it's not your business
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you're an airline. can a cruise ship like carnival, royal caribbean take it? you're sailing you can fill up the empty ships with barrels i don't know how about traditional gas stations makes sense. roads are empty. the oil storcks are all buys, value buys if it keeps up month after month, companies won't be able to stay in businessness. many of them will go under they'll be like retailers who hads to close because of the disease. some maybe many will never open again. we know there are plenty of banks that are on the hooks for these loans to oil companies last week we had the big banks and they made lots of loans to the industry why not? it was a great growth industry for so long. i think they're probably reassessing their exposure like right now this moment. they got clobbered today a woeful group, yes, a vaccine, someone complained on twitter today, jim, all you do is talk about a vaccine. you know why 1234 only only a vaccine will bring us
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back to the way life was you can't ignore something this big like oil wacky oil traders, i wanted to do that. i re-wrote this ten times. the real story is without real demand, a lot of things going wrong. whether it be retail, whether it be airline, small business or, yes, oil -- how about the rest of the market? okay, look at this on a bad day amazon, shopify, vertex, abbott managed to rally. on the other side of the trade, not the oil trade, the covid trade. these are companies that do just fine during a pandemic something that benefits from the lockdown you see that amazon. others make essential medications like vertex for cystic fibrosis. of course abbott's got the coronavirus test i think the president called it the hot one. what should we do? take a breath. oil is a distortion, a financial distortion sure, it deserved to break down today, not this much that's what the action in the oil producers tells us
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some of their stocks like apache is barely down the main take away from today is our economy remains closed and when economy is closed, guess what, you don't need a lot of fossil fuels. bottom line, iraq might be figuring out which businesses can thrive gasoline is cheap. you need to stay in your car you can't congregate can't go to the movies and you know what? my makeup person came up with it we need to bring back the drive-in movie theater it's the only out of home entertainment that's cheap and not too dangerous to enjoy let's go to rob in kentucky. rob! >> caller: booyah, professor jimmy c. from the postponed 2020 kentucky derby city. >> well, look, i've been to the derby many times and i will be to the derby again, all right? so, let's get rolling. >> caller: third time caller, every night viewer my question, is there any lesser left in the golden arches of
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mcdonald's or would i be better off putting dough in domino's pizza? and thanks from all of us home gamers >> you're terrific thank you. mcdonald's is 2.57% yield. it can go lower. big consumer stocks tend to top at 3 domino's pizza is the way you eat in the time of covid i like it even up here wow. nick in new jersey, nick >> caller: booyah, jimmy cho >> yo, yo, man, what's up. >> caller: first time caller, eagles fan >> let's hope they play. not if they're going to get sick what's up? >> caller: mine is a spec stocky saw on "mad money. >> wasn't that something >> caller: yep i saw it recently. we're going to be wearing masks for a while, buy, sell or hold >> i liked what he had to say. i thought he was very on his game i think as far as i'm concerned it's a great spec. you called it a's spec, i'm
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calling it a spec. it's a great spec. how about ed in massachusetts. ed >> caller: hey, bigety booyah, cramer >> i like that what is's going on >> caller: we're all missing carnival down there in the berg. i'll see you next year i know you love it there yourself >> there you go, nice shout out. >> caller: my question is about a conglomerate newell brands rubber made, crock pot, sharpy, coleman. they make ppe also it would appear, rubber gloves, sponges, mops, food storage containers. mr. krof coffee, crock pot. >> a stay at home company i would normally be recommending except it has a lot of debt, took on a lot of debt, a 7% yield which to me says be careful because any company shielding more than 5, 6% you have to do a lot of work on.
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i'm not sold on the deal newell is ready yet we're in uncharted territory. we're seeing difficuvergences ar they confusing as all get out. it turned negative the first time in history. i'm talking with the energy expert russia brazil one iconic company reported earnings with a earnings with a new man at the helm short term, i say give it a chance let's talk to the c.e.o. during the recent market turmoil, the company closed on a fund-raiser, $8 billion. i'm getting to the bottom of all this action with the co-founder. believe it or not, it's real positive so stay with cramer. >> announcer: don't miss a second of "mad money." follow jim cramer on twitter have a question?
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tweet cramer, #mad tweets. send jim an email to or give us a call at 1-800-743-cnbc ss something head to isn't just a department. it's a voice on the other end of the phone. a note to say you're on our mind. a willingness to come to you. the world and how we interact with each other is changing. but that will never change who we are at lexus. now, more than ever, you and your needs come first. find out what service options are available in your area at first
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i talked about the craziness in the oil patch we watched as the price of west texas crude from may delivery went from high teens to less than zero just in one session. refiners don't want it there's no storage space left so they're paying buyers to take
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the oil off their hands. it went to absurd levels it closed at negative $37.63 you probably think it couldn't happen the whole darn time, the no b.s. guy who helped me save you from the stocks, literally daily every week day morning at 6:00 a.m., get his take by the way at rbm rusty, thank heavens you're available. welcome back to "mad money." >> i would say under normal circumstance good to be here i'm not sure that's true today >> rusty, you told me that it could go to zero you didn't tell me it could go to negative. could you please explain to us -- >> sorry >> could you please explain to us what the hill happened today? >> really, jim, today was a paper market problem it was a squeeze in the futures market what happens is that the cme, nymex, futures contracts, expires tomorrow it's a physically settled
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contract that means any company that bought a contract is obligated to receive physical barrels tomorrow afternoon or obligated to receive those barrels starting physically if they're permitted tomorrow afternoon once th unless they get out of it before the market closes, convergence futures market cash market converge on the final day of the contract, that's tomorrow. unfortunately, a few unfortunate souls waited a little too bit. some guys who needed to get out of the market u they figured there was no way out besides to sell the contracts for whatever price there was. the sharks closed in, that's why we got negative prices the bottom line, what happened today was not about physical barrels. most of the physical barrels deals got done last week i'm not saying physical barrels might not go to zero eventually,
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but nevertheless that's not what happened today what happened today was a paper market problem >> let me understand paper market could be an etf like the u.s.o., for instance, which i would think is some product that people came up with that really weren't -- doesn't work >> well, it works some of the time unfortunately it doesn't work some of the time this is one of those times that it doesn't work. so, yes, they are rumored to be one of the companies that was on the wrong side of the market because they hadn't yet out and the market figured they had to get out, that was part of the problem. >> who is the "they" in the u.s.o. >> the they, who has the exchange traded fund >> right >> that's the u.s. commodities funds that actually manages that product. >> did they blow up?
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>> pardon? >> didn't someone blow up, rusty? >> again, what we hear is they blew up. >> right, okay now, isn't china the winner and we're the loser? china needs oil. we have too much oil >> well, you know, right now the entire world has too much oil, so part of the issue is that we really haven't hit that point where the physical market is below zero the physical market was trading in the low teens last week that's one of the reasons most of the market was expecting this to happen. i got emails three weeks ago laying out that this is what a lot of traders thought was going to happen. not necessarily funds, but that somebody was going to get caught, and that's precisely what's happened here but the entire world is long on crude oil and the entire world is short on storage capacity and that means the longer covid lasts, the longer that we sit in the situation where demand is
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way down, but supply has not fallen off to the level of demand, it means that shortage capacity tends to fill up and most people are thinking sometime in the not too distant future, storage is going to fill up when that happens, we could be talking about physical negative market prices. >> why doesn't the president step in and buy every single barrel since he's being paid to fill up the strategic oil resnev >> if he did that, it would take weeks, not months to get crude oil into storage you can't turn a tap and millions of barrels a day flow into crude oil storage it has to happen over time unfortunately everything now is happening at light speed the physical barrels, any kind of government purchasing program can't keep up with this. too fast >> how much of this is saudi arabia and russia? how much of it is covid? >> i would say that, just off the top of my head, 15% of this is saudi arabia and russia, and
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85% of it is covid >> now, one of the things that i think really scared people today, rusty, is minus $37 zero, we get that. minus 10 why wasn't there someone there who could go and buy it and put it on the tanker >> again, it's a paper market problem. so we were not talking about physical barrels you can't take a piece of paper and put it on a tanker wouldn't do any good again, you can't look at today and the severity of the negative price as something that applies in thephysical market. really, one, it was a paper market squeeze of the futures funds and others that got caught of the last minute they didn't get out of the paper in time and the market took them to task for that in terms of what's going to happen in the next few weeks, whenever prices get cheap, people are filling up storage and filling up, all the rest of the united states is filling up.
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storage offshore in bltcs is filling up people are handling that it will happen over time whether it's enough or not depends all on what happens to covid. do we come out of covid in a few weeks and everybody is driving again and demand kicks back in are we going to be living with this for a while in case this situation is going to continue to get worse >> okay, rusty, what goes on with the industry? what happens -- we have all these oil and gas companies. we had phenomenal success. does it all go kerphlewy what occurs? >> you're going to have a number of producers that are going to be shutting in their production rather than producing at these levels for the most part, as we understand it, you can shut in a crude oil well, typical shale well and not do any damage to the reservoir. you can kind of think of it like
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if i don't produce the oil that could come out of our well today, i'm kind of leaving it into storage so to the extent that it makes financial sense to do that, i think you're going to see a number of producers take that action now, whether or not their balance sheets can hold up under that situation, what happens to their hedges under that situation, those are all separate questions that really don't have -- they're related to what happens in the oil patch, but they're somewhat divorced from it financial rather than physical issue >> let's leave it at that. it's a financial issue, not the physical, not the end of the world, but certainly not a good time, right, rusty >> not a good time and last thing to keep in mind, jim, is that it could be a physical issue in the not too distant future >> right >> we're just not there yet. it all depends on covid. >> gotcha, all depends on covid, like we said at the top. that's rusty brazil of rbn
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energy pretty sobering, isn't it? "mad money" is back after the break. there's tv. and then there's x1, featuring the emmy award-winning voice remote. access to your favorite apps, including netflix, prime video, youtube and hulu. all without changing passwords and inputs. the most 4k content and movies and shows on any screen. the best entertainment experience all in one place. at&t knows you have a lot of things on your mind. staying connected shouldn't be one of them. that's why we're offering contactless delivery and set-up on all devices. and for those experiencing financial hardship due to this crisis, we'll work with you to keep your service up and running.
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let's talk tech. ibm just reported a solid quarter after the close today while their sales came in a bit light. earnings were higher than expected thanks to the rapidly growing cloud division, augmented by the purchase of red hat not that long ago some may not like every line of this quarterly report, but i think there is a resilience and history here at ibm that i like as well as a plan for growth that i think is on target. even as many other companies are falling under the weight of covid-19 a strong hybrid cloud offering, artificial intelligence platform our next guest has taken over as c.e.o. of this venerable company a few weeks ago. let's take the temperature of ibm through the words of mrmr.
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mr. krishna. arvin, you're the tenth c.e.o. i'm delighted you're on the call this is a quarter that shows the financial strength of a company beyond the growth. a lot of people like to hear from you how you feel about the cash flow and this company is a rock of anggibraltar in a very dicey time >> thanks, jim legali let me acknowledge the crisis we're all going through. my heart goes out to everybody around the globe dealing with covid-19 i'm proud of the ibm'ers who performed work so well even though 95% of them are working from home. so, going back to the quarter, ibm runs the most critical processes for our clients, and these are some of the most critical systems on the planet whether it's credit card
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processing, inter bank payments, retail banking and so on and so this demonstrates, our results demonstrate the high-value segments we have chosen to be in. we begin with a strong balance sheet. we add to that good cash flow. we have access to markets which results in good liquidity, which will allow us to weather the storm really well. and that's something we should all be proud of. >> in that sense i'd like to hear that there is a commitment to the dividend because you're one of the highest yielding companies in the s&p, but one of the few yields i'd like to think i can trust. >> absolutely, jim and the reason that liquidity i mentioned is so important because it allows us to secure our dividend, and that is what we have stated to the street many, many times >> now, arvin, you are the architect of the current strategy and you know i like what she's done, but a lot of what we're seeing is what you personally
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have put together, including red hat, which you know is an acquisition, i thought the most was just a brilliant transformative acquisition that has accelerated in growth and yet there's been no degradation elsewhere. this pastiche you created will give us growth over multi years. you have towithdraw guidance, get that but over multi years because of the path you put us on here. >> absolutely, jim look, the strategy we're on on hybrid cloud with red hat at the center of that is something that i put together with jenny. you mentioned jenny. i'll acknowledge it is something that i did, but with a lot of help from her. and we got that done hybrid cloud is really the ability to take the 20% of cloud penetration that is true today and go after the next 80%. and the work loads there are much more mission critical in nature and much more enterprise in nature. we have categorized that as a
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$1.2 trillion market, half of which is services, and we feel incredibly well positioned to go and take a leadership position in that. definitely that's a big part of it the second part is acquiring red hat, and red hat was growing in the mid teens before we acquired it this quarter and the prior quarter were both billion dollar quarters the very first time in red hat's history, and growth accelerated. so i feel really good about that as well, and it shows the strategy that is working and it shows the demand that is there for those products and capabilities and the third piece in there is we kind of began with less than 1,000 customers for a product called open shift from red hat and that's gone to over 2000 customers as of now. so really three really good vectors of momentum on hybrid cloud as well as on red hat itself, and as well as an open shift. >> i think a lot of people also are excited about some of the things that i know that you have talked to us before i had the
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privilege to meet you at a lunch here at cnbc artificial intelligence, and what artificial intelligence means for the world that right now we're facing with covid-19 >> jim, it's a great question. i'm going to begin with a really quick example and then come back to a bit more of a macro view on artificial intelligence. we began a great project, just took a couple days down at the children's hospital in atlanta and they were getting too many calls from parents worried about their children, and we created a watson assistant specifically for that hospital on their protocol, so it's their health protocols, that could answer and triage out over a thousand queries from parents as opposed to taking up nurses' and doctors' time, watson triaged those out and hands the ones that needed to be to the medical staff.
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that is a great example of how a.i. can improve human productivity especially when there is a shortage of skills. not just one of those, there's over 25 live another 90 of those in the offings and off and running. but it really speaks to what we all believe is a $16 trillion market for productivity driven by a.i. as a.i. can infuse every business process and really help optimize it. and when we look at that market, we are only 4% in. this is a wonderful opportunity for all of us to embrace and i think this crisis is going to make the option of a.i. even faster than we could have predicted before >> at the same time, i want people to understand that you have a model that held up well during the great financial crisis because of something called recurring revenue and your recurring revenue continues to grow. and i think people should recognize that that is how they should view the company beyond just the growth prospects. there was really great recurring
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revenue. even in the last month of this quarter. >> yeah. so, jim, this goes back to the point of the solidity in the balance sheet and the cash flow. so over 60% of our revenue is what we would call recurring revenue. meaning we don't have to transact for it in that quarter, and it should be very, very slightly changing. this contrasts with about 47% we had as recurring about a decade ago, and that is a big contrast. so with that 60% fairly robust, it really allows us to have a lot of confidence in our business model, and as well the diversity that we have in our gee oge geographies and our industries certain industries are going to get impacted we are not overly exposed to those. the majority of our refrm knew comes from financial services, the public sector which is inclusive of health and government, and telecommunications >> so that must be one of the reasons why global business services, which you know i was concerned about, because these
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other businesses -- incumbent businesses, we call them i was worried about stagnation, but global business services, you hit it out of the park >> it absolutely did when you look at many of the projects they do, you went back to application modernization driven by hybrid cloud you talk about artificial intelligence projects. you talk about really, as the world wants to get digital and get digital faster even in these crisis days of covid-19, i think that's a big opportunity for global business services now, i wouldn't say they'll be completely immune to this, but i think the portfolio we have selected should make us more robust than many others. >> one last question it's a difficult time, but we need optimism. you are a realist who is optimistic what does it feel like to take over the helm of a great american company at a time of tremendous turmoil around the world?
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>> well, jim, i've got to begin with i have immense confidence that we are going to emerge even stronger from this pandemic. and, by the way, as you mentioned right in the beginning, i have immense confidence that our strategy and the portfolio we have selected is going to allow for growth in the longer term. now, both those put together, i see how our people are reacting. i see how our clients are reacting, and the two put together really give me confidence in t confidence the ability of us as a world to use technology together >> i want to congratulate you. second, i want to thank you for coming on "mad money" for your inaugural. there are a lot of years ahead and a lot of it is your strategy thank you, sir >> thank you, jim. >> that's the c.e.o. of ibm, 5% yield held up really well during the great financial crisis new person at the helm whom i trust. "mad money" is back after the break.
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a few months ago the whole brokerage industry was broken up by robinhood's trading model it seemed totally ascended in the word of biggie smalls, mo money, mo problems an unprecedented surge in trading volumes, at times the system couldn't handle it. they went down, stayed down during intense trading days of the first quarter. it was frustrating with sources saying robin hood is raising capital, what should we make of the company let's check in with the co-founder and co-c.e.o. of robinhood. what caused them the
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jaw-dropping trading volumes the last quarter welcome back to "mad money." >> thank you, jim, for having me it's a pleasure as always. >> vlad, i've known you awhile those who love it like people who love tesla there had to be people who were frustrated has it led to a fall-off in business or is business strong >> yeah, like you mentioned, you know, we have like many businesses faced our share of challenges with the coronavirus pandemic i think that we've sort of had a two-phased impact. one is obviously with any business we've had to deal with work from home for me personally, having two little kids running around also the historic market conditions that we haven't seen since the founding of robinhood and really haven't seen since 2000, 2008 so we had some service
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interruptions. we know customers need robinhood and love robinhood and expect it to be up when they need it the most and we've been investing a whole lot in not only mitigating the causes of the outages that we had about six weeks ago, but reliability and service quality has been and continues to be our number one priority as a business >> and have the customers embraced that there are issues because it is a pretty -- covid is pretty unbelievable and accepted it and continued to trade? or people said, you know what, i'm going to go elsewhere? >> yeah, there's a few things that have happened number one, i think it's important to note and quite humbling that robinhood has continued to have over 50% of the market share of new brokerage accounts so what that means is out of all the brokerage accounts that are being opened industrywide, robinhood is getting over half
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of them, including more than all of the incumbent legacy providers put together we're also getting over half of mobile app downloads so we're continuing to be the go-to place for customers on mobile and we've seen record trading volumes and record depositing activity into the platform in recent months as well. >> i know, because of some issues involving what i mentioned about fund-raising activity which i know you can't talk about, you may not be able to address this, but when we saw each other last it was 10 million. is there any way you can update that figure? >> unfortunately, i can't update that figure, but i can tell you that in march, you know, our volumes of daily trades have been up about 3 x what we were seeing in q4 of last year. net deposits, so that's customers moving cash into the platform to buy, to buy securities have been up 17x, so
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almost 20x what we were seeing in q4. it's not just trading volumes, but it's the buying activity that has been quite fascinating and interesting. customers are bringing in cash to buy and go long securities. so we've seen people buying both companies that are particularly well poised to take advantage of the new environment, so lotsof interest in video conferencing, in certain pharmaceuticals that are developing vaccines or treatments for covid-19. and we've also seen a lot of interest in companies that customers perhaps feel have been oversold into the pandemic with companies like american airlines, carnival cruise entering the top ten of traded stocks on robinhood. >> that's incredible so they are, i presume again, these are younger generation investors who are looking to get into something that perhaps over
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a long term, might end up being good investments, which is how you're supposed to invest. tea exactly. over half of our customers are first-time investors and we take that responsibility very seriously we know that it's an important milestone in every investor's life, making that first investment and a lot of people are thinking it's a good time to start. people that have maybe sat out 2018, 2019 because of all the concerns with the yield curve inverting, with maybe concerns that the market was at historic highs. >> right >> now the sentiment definitely seems to be shifting >> okay. so, number one most-bought stock is a company that shows that people have faith and are interested in defeating covid, and that's a novingnovia pharma they're buying the dip and
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they're doing quite well if they bought it. >> yes like i mentioned before, there's been anovio along with a few others have entered the top ten. and customers are excited and sort of looking at a lot of these companies that they think could perform very well in the new environment and looking at them as buying opportunities >> i think what's really exciting here is i look at a stock like disney and i try to tell people, in the near term not so good, long term the best. that's, again, what people seem to be thinking who are customers of robin soon. >> absolutely. disney was one of our top 10 stocks held before covid we've seen rapid increases in the numbers of holders i think customers are optimistic about the long term. they're seeing all the things that the company is doing with disney plus and they think it's well positioned to take advantage of pretty much any market environment >> what do you think is happening here
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you've got elderly people or people in their 30s and 40s, they all want to go out. they don't want anything to do with it. at the same time, you have younger people embracing it, which is great for robinhood great hopefully for you to do a big fund-raiser frankly because it seems like it's your time >> yeah. i mean, like i mentioned before, we're humbled by the amount of customers that are signing up and opening accounts on the platform we take that responsibility very seriously. and the team has been working really, really hard to not just get out new products and features, like fractional shares which i announced on your platform a couple months ago >> which they like, right? they like those. >> yeah, it's our number one most requested feature the wait list got up to almost 2 million. it was 250,000 when i last came on your show so we've been really excited to roll that out and to make really
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large investments in service quality and reliability, like i mentioned earlier. >> well, i'm so glad i know that you wanted to address those. i know that personally, you were probably horrified because you do everything you can for your customers from the day i met you. and it seems like they are sticking with you and then some. i want to thank you, vlad teney, co-founder and co-c.e.o. for robinhood. great to see you >> thank you good to see you as well. >> the younger people get. it they're not afraid. just the elderly are afraid. come on, get with the program. "mad money" is back after the break.
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>> it is time. time for the lightning round >> buy, buy, buy >> sell, sell, sell. [ buzzer ] >> then the lightning round is over are you ready, ski daddy sandra in californi sandra in north carolina sandra >> caller: thank you for having me this evening. we try to teach our children about investment and we are heavily invested in amazon because we love it but another one we've been eyeing is chipotle >> chipotle is good if you can get it under $800. remember, this is a stock that's impervious we are looking at balance sheets it is terrific let it come in a little. gerard in new jersey, gerard >> caller: jim, booyah >> booyah. >> caller: i wanted your take on e commerce fashion company
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>> the e commerce companies this company likes are two. they like amazon and it likes shopify. that's really it everything else is at this momenting your windmills let's go to doug in california doug >> caller: jim, i need your intelligence and your opinion anheuser-busch, is it a buy or a snell >> i'm sorry, i talked over that which one? oh, anheuser-busch no, i mean, look, it's got a good yield it's 4%. look, i am a giant believer that you need growth when you buy stocks, which is why i keep coming back to constellation brands down 6 bucks don't forget you have that canopy growth kicker people are liking those stocks not just because it's 4.20 danielle in california, daniel >> caller: booyah, jim, big fan of the show. >> thank you >> caller: thank you for having me on.
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i'm watching -- your commentary on that. >> they did that a little while ago. i appreciate that. >> caller: just wanted to hear your thoughts on diamond eagle acquisition. >> that's a blank check company. we don't know. i'm not going to give anybody a blank check. it's tough for me to give my wife a blank check oh, let's go to andrew in california andrew >> caller: booyah, hey, jim, how are you? >> i am good, andrew, how about you? >> caller: doing all right, thanks andrew here in san francisco my question is on winnabego. >> it's how people will be vacationing when you're not sure about a hotel. i have friends who use it to see relatives. i think it's a good call erwin in new york, erwin >> caller: hey, erwin -- i'm erwin. jim, how are you >> i am good what's up? >> caller: are you open in brooklyn, are you doing
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take-out >> you know what, we're going to i mean, i'm going to have to take a little burden there because i didn't get a loan. that's all right i got employees i like sometimes that's all that matters. i'm sorry? >> caller: send over a couple margaritas i'm calling about clorox under normal circumstances i would say it's doing very well >> today we own it for the charitable trust i put it up for jeff marks at fema what do you think we should do it was up $4 at one point. i gave it back i think you should hold onto it. ladies and gentlemen, that is the conclusion of the lightning round. [ buzzer ] pshl >> announcer: the lightning round is sponsored by td ameritrade so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya.
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ah, they're getting so smart. choose the app that fits your investing style. ♪
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first time since the beginning of march, it was glorious she surprised me from the back door with a bag of bagels. masks, no gloves during our meet with the family on zoom, the one that keeps us sane it was a fabulous moment because it was our fifth anniversary we hadn't been able to celebrate. we had joe stone crabs shipped from miami her place, my place, the celebration the night before, but it's just not the same as seeing each other for real we devoured our bagels and bread
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from 8 feet apart. we don't trust the 6 foot rule i passed up gatherings with friends the day before because i figured i'd get the virus not being careful. my wife stayed and ate the bagel. down to the elbow shake to say good-bye the elbow shake felt unsafe to me welcome to the era, the era of being very, very, very careful a few months ago this all would have sounded crazy to me i told lisa we shouldn't get together until we get tested and have really good masks maybe you think we're being overly cautious, but i'm 65 years old. i've seen the mortality numbers. i've seen the ad that tells us how dangerous it is. i don't want to take any chances. i know most people don't have a second house squirreled away to quarantine themselves from their family why do it if you don't have to i told lisa we can see each other when getting tested for the virus.
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it's as simple as going to the gas station. we're not there yet. we would have loved to get tested, both of us, because then we could have maybe touched each other without fear on our fifth. again, i know that sounds nuts, but i'm not going to lie i really want to live. you know how china got this thing under control? they did tons of tests and separated sick people from their families given that you don't need to be symptomatic to spread the virus, i think the responsible thing is to assume you have it until proven otherwise that's certainly the way they seem to be handling it in hong kong, just so you know it's pretty incredible what they're doing. when i saw lisa, we handled it as well as you can without an abbott labs diagnostic machine in your kitchen. the only real at-risk moment was when we took off our masks to eat. we didn't kid ourselves. if we stayed away from everyone else 14 days, full lockdown, we could have stayed together but i had to go to work last thursday before taking my glorious day off in ages on friday if you want to be safe that's about as good as it gets
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you can go to the hospital and beg to be tested you're not going to catch me in the hospital unless i'm so sick i need a darn ventilator if you have testing or even better, if you've already had covid-19 and recovered, then feel free to go outside, go to the beach. but fortunately, i haven't had it yet and i didn't want to be one of the statistics in the ever-rising new jersey body count. don't kid yourself this is not a question of bravery. eat the darn bagel and get out of dodge there's no up side in being unsafe right now until we get a vaccine from j & j, pfizer, i would have kicked myself or worse putting my wife in the hospital. being irresponsible responsiblen thing to do, but it's the right thing to do. stick with cramer. - [narrator] at southern new hampshire university,
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we're committed to making college more affordable.
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that's why we're keeping our tuition the same through the year 2021. - [student] i knew snhu was the place for me when i saw how affordable it was. - [narrator] find your degree at information overload, diamond eagle, mentioned earlier, that's the merger with draft king so i think if you like draft king's business model, not that much betting right now, i think that's an interesting situation. ibm, i know people are not liking the fact that they pulled their guidance i'm asking you to take a longer-term view which i know is almost impossible particularly after the battery people just took in oil today. so what i urge you to do is take a breath today was just a very odd day and don't freak out about oil. remember things are weaker i like to say there's bull market somewhere and i promise to find it for you here on "mad money. i'm jim cramer
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"markets in turmoil" with my friend scott wapner begins right now. there's tv, and then there's the best entertainment experience. xfinity x1. good evening, i'm scott wapner on day 113 of the coronavirus crisis several southern states make plans to reopen their economies as stocks suffer a big drop. stocks kicking off the week in the red. >> stocks slide. >> something's broken in the market. >> announcer: uncertainty in many areas, but mostly in oil lead to the drop >> reopening our economy today would backfire on us. >> announcer: by the biggest question for the market and the country remains when will it be time to go back to work.


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