Now. Amc up 10 . Sunpower corporation has dropped. Watch that volatility. And our good friends at black berry are up a little over 1. 5 after what was a wild, wide ride yesterday. Well talk more about that and the implications of that. Are we back . Are we back . Its like going in a time machine. Treasury yields, we should mention this. Copper prices hitting a record high overnight. 5. 02 per pound in an effort to build the global economist maybe something well talk about with our secret mystery guest who knows a lot about evs and cars and other things. So gamestops up, sorkin, today. It is. But not as much as it was. It opened at almost 65 yesterday. It did. It closed at 48. It did. Today were in the mid50s. Were not hitting the crazy high we hit yesterday. Im torn. Theres no doubt, i agree with you, its like certifiably insane, but then there are people that write in, so you clowns think its okay for hedge funds to have naked shorts and do this and do that, but its not okay when the individual investor decides to get involved and cause a short squeeze to these hedgers that are screwing us all the time. This isnt even short squeeze. Theyre squeezing themselves. Thats what we keep saying. There are huge losses in people that were short these stocks yesterday. Almost a billion dollars. Its very, very hard to borrow this stock though. Its harder when you can do it naked. Im playing into all of the right . The the whole idea that the little guy is somehow screwing the big guy. No, the big guy is crewing the big guy. But the sad part is the big guy is screwing the little guy and the big guy doesnt even know it. Thats the problem. Okay. Well, i just am throwing you some red meat. I dont even want to be involved to be honest with you. I thinks are quiet right now. Your reddit account is doing okay . I dont know about red it. I would never look at that. How about yours . Bring it on. Youre comfortable in your own skin. On todays agenda, addai after Producer Prices came in hotter than expected, well get the april read on consumer prices. Remember this. Expect a jump of 0. 4 from the prior month. Write that down and 3. 4 year over year, and well also get some april reday sales data. But you saw what happened yesterday. It was hot. I think ai is overcoming multiple expansion. Right. People want the rates to come down because of multiple expansion. But if its not going to happen, theyre looking at the underlying future as far as earnings. Its pretty awesome. I think it is. Did you see some of the google stuff yesterday . Its outrageous in the best way upon. Will you explain it to me . Im happy to. Thats the search thing i go into to find . Are you hip to this, lebeau . You cant out our mystery guest without giving him a formal introduction. You heard him at the top. Its an unmistakable guest. Are you ready for this . Ai . Your boeing news . Yes. What day is this . Its a boeing day. Another day of news. Youre in beckys chair. I sit where they tell me to sit. I dont look. You look good though. Thank you. Youre welcome. Lets get to boeing. The Justice Department says the Company Breached the 2020 agreement that shielded its from charges ore the 737 max crashes. I hesitate to say the roaches keep coming out. This wasnt a surprise. But were talking about its ugly. Look it. Its bad news. Why dont we talk about boeing in a good way . Youre finding the bottom. My guess is probably six to nine months of just muddling long, getting through the muck. Theres nothing in here thats surprising. We knew the doj was looking through this. Let me go through the news, which is the doj announcing late yesterday that the boeing company is in violation of the deferred prosecution agreement that was reached between the doj and boeing in 2021. Essentially, they didnt live up to the terms of it, which was were not going to go into all of the details. Keep your nose clean, run a business that is supposed to be doing what its doing in terms of regulations, meetings, et cetera. They didnt do that. The department of justices next move in terms of what theyre going to pursue in terms of a penalty off of this, that remains unclear. Well find out about that sometime in the next 30 to 45 days. This all stems from the original 737 max crashes, the two that took so many lives that initiated the investigation from the doj which ultimately lead to Dennis Mullenburg leashing the company and all the restrictions that were put in place. That was 2021. The penalty at that time was 2. 5 billion as part of this deferred prosecution agreement. Yesterday both issued this statement in response to the dj. We believe we have honored the terms of that agreement, speaking to the 2021 doj agreement and we hook forward to responding to the department on that issue, as we take a look at this. People knew this was coming in some fashion chlg they have until june 13th to make a response, and, look, ultimately the doj will decide what theyre going to do here. My gut tells me, and this is pure speculation, my gut says, a bigger fine, tighter restrictions, and probably some type of a monitor, a Court Monitor whos going to be appointed. The doj is going to say, you couldnt do it on your own, okay, well have somebody whos going to have to be a hall monitor. Dont they have hall monitors all over the company . Yes, because you have the faa regulators who were there, yes, but i think the doj is going to go even further and say, we want somebody, not just the faa, which is looking at how the company is living up to the regulations in terms of aviation safety. We want somebody to make sure you are actually putting in the changes that were supposed to be in place that should have prevented what happened with alaska airlines. By the way, given all the hall monitors, we blame being all the time. Where was the faa . If the faa is living inside the company, is there blame there or not . There is questioning in terms of should they have been more involved in the scrutiny of boeing. The way its set up for all aircraft manufacturing is theyre a designated authority. In other words, you would be a boeing employee. Youre working on the maxx. And at some point they need to have somebody check off on things. You are employed be i boeing. What you hear people say all the time is why arent there more official faa inspectors like there are now at the max plant and we have more and more of them. Well, that would require congress and the faa to have greater funding, and washington didnt want to say, look, lets employ thousands of inspectors to be at this plant or at the airbus plant. If this were a documentary on netflix, this wouldnt be a mini series of four episodes. You would have five seasons. Yes. It started with the first maxx crash and everyone said it was the pilot. Its the way the software was designed. Okay. There was the second one. And then so many times, its okay, weve put this behind us and we can move forward. Correct. Only to see Something Else happen. What was it center. Yeah. The crashes were in 19. 18, 19. So five years. You can see in business courses how not to. Absolutely, absolutely. To bring this back to the doj, what the doj is going to say, is, look, is there an investigation going to come up where theyll say, aha, i it was this person. No, i think it was sloppy manufacturing and they didnt have the processes in place. Now the dj will saying okay, you didnt do it under the deferred prosecution agreement. Now we slap you with a fine and put a monitor in, Something Like that. The doj is going to say, we need greater assurity that you will follow the rules. Meanwhile its like 1 in 6 million, no mistakes. When i walk on boeing, im still in awe of the airline and how safe it is. Absolutely. So its weird. It gets a lot of attention and a lot of publicity, but instead of one out of 6 million its one out of 4. Its still really good. I love boeing and i want it to be a Great American dindustry. Youre right. When you talk about it, the country needs boeing, the Airlines Need boeing, but what they need to do is get their act together. I like what andrew says. Its the governments fault. Its always for me. Its always the governments fault. So are we on this together . Im rethinking my position. Faa. Thank you. Thank you. You know whosrunning the government . I know how you think. Its been a wild week as we mentioned at the top of the show for meme stocks, and its only wednesday. Were going to look. At 10 00 a. M. Sara eisen is in israel for a special interview with Prime Minister benjamin netanyahu. Squawk box returns after this. Your record label is taking off. But so is your sound engineer. You need to hire. I need indeed. Indeed you do. Indeed instant match instantly delivers quality candidates matching your job description. Visit indeed. Com hire when it comes to investing, we live in uncertain times. Some assets can evaporate at the click of a button. Others can deflate with a single policy change. Savvy investors know that gold has stood the test of time as a reliable real asset. So how do you invest in gold . 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You as well. One, two three. Grandpa whats this, ellie . Your wings. Light em up gentlemen, its a beautiful. Day to fly. Wooooooo whoa on your wing, grandpa welcome back to squawk box. Gamestop up. Joining us is eric so. I keep shaking my head at this, saying were living in somekind of time machine. You know, there are folks online who are very unhappy with that perspective. Whats yours . Thanks for having me on. I think the headline for today has to be the meme stocks are roaring back thanks to Roaring Kitty. I teach my students that they move to business fundamentals and Market Sentiment which reflects periods of heightened demand that have little to do with fundamentals. When they fail to perform, savvy investors jump in early. But that initial buying pressure tends to create more upward price pressure which feeds into fomo for other investors who jump in and the cycle continues. In stream cases this can lead to sustained bubbles in asset prices. What we need is a clear signal that a wave is formal. Thats where Roaring Kitty jumps in. They can create meaningful movements in price when they band today. Eric, i hear all of that. I want to understand why whether you think this is some kind of manipulation, whether something should be done about it. The reason i say that, i know people are probably saying there are people trading this saying, sorkin, stop it, its not your job to protect us, and, in fact, youre not protecting us, youre protecting the man, whoever you think the man is, but the truth is a lot of people the last time around who saw this movie we know the movie, we know how it ends in advance. Like you know how it ends and it happens anyway, so what are folks is up po issed to do about it. Most people involved in this are going to lose money. Yes, you can think about potential regulation from an ethical or practical perspective. I think from a practical perspective, its goes doing be hard to rein in some of this in a meaningful way. When you look at what Roaring Kitty posted in recent days, it hardly reaches the threshold of stock manipulation. Just from an ethical standpoint, i understand the desire for orderly and fair financial markets, but i think it comes with some cost of potential regulation including disenfranchising, investors who are underfinanced in the financial markets. I understand the desire for it, but implementing it i think poses some significant hurdles. So you think if you you think that the Retail Investor is not i would argue unfort natalie. One of the things we try to do doed on this is trying to democratize this in some way, but the truth is the man that you know, a hedge fund that has, you know, several hundred Million Dollar a year in some cases budget to buy satellite data and information and research that others cant get access to which is completely legal make it difficult on daily trading, not long term daily trade, it makes the Trading Field not feel sfleerchl thats true. I understand that sentiment. I think further putting in regulations, restrictions on retail trading is only likely to amplify that. For example, if the s. E. C. Were to take advantage of it, i dont know i dont know what the action would be. What would be the reaction . Would you post a guy leerning forward in a chair . What would that look like . What would you tell the judge . Thats exactly right. Yesterday you had the kmugser on. I think that illustrates some of the practical limitations of any potential regulation. So whey heard folks talk about is the need for more stopgaps and limits on who has access to markets not just in terms of equities but other assets like options, and my opponent is these types of restrictions are likely to disenfranchise investors who would otherwise put their money outside of asset markets, but i think thats a problem. Lets say Roaring Kitty knew what the outcome was going to be and knew that before he loaded up. Its almost frontrunning, isnt it . Yeah, will, i think that, you know, building positions and then rallying others to come in is you know, could be considered front running. I think thats par for the course in other asset markets. We see short sellers all the time, trying to convince others to jump in. I think the distinctions are rather gray. Its not inside info, but youre the only person that knows. The complication is when you if you share the information with people beforehand, youre effectively creating teams of people, thats a different story and then if you could extrapolate it out in a red it version. If its not a problem, its a helluva ding if you can do it. I mean this guy, he probably knew. Think if you had options. How would you know if he tweets if tlaer years and came out and put that on, you dont think he knew full well something similar to this might happen . He might think i have no power naim, they think im a laughingstock. There are people who think that of him. Maybe he thought he would put it up and get no reaction or get a little bit of a bump. They may be at multiyear low and take a shot. I dont know. I think its pretty good if we can do it, its a helluva way by the way there are times they come out with positions and go short. The report goes out and the stock goes up. Thats not Roaring Kitty. Roaring kitty is a special class . Apparently. Apparently. Eric, we want to thank you. Its a longer debate. We ee see how long this frenzy continues on. Thanks for watching. Hes watching us even though he had class andering else. Coming up, nvidia revealing a big pay raise frmgts up 60 . Details as we will ed to break. As we head to break, a quick check on bank stocks. Jpmorgan hit a record high. Citigroup and bank of america hit twoyear highs. Well be right back nancy pelosi this cnbc program is sponsored by baird. Visit bairdifference. Com. Energy fuels, a leading american uranium producer, is ramping up production to supply expanding Nuclear Markets and diversifying into rare earth elements, key ingredients in many clean energy and defense technologies. Energy fuels. Welcome back to squawk box. Je Jensen Huangs pay rises to 34. 2 million. Among the increases, stock awarded at about 7 million. Thats more then the prior year and a 4 million cash bonus. Hes also going to receive 2. 5 million in other costs including Residential Security and consulting fees, but thats kind of pocket change compared to the stock he owes. He got it in stoxx performance. So the stock is higher than 32 million. Yes. If you talk about relative industries that are highly paid. Right. And as we point out, if youve got a lefty thats got a fastball and a slider and a you know, 24 years old, theyre worth more than 32 million a year, are they not . Who are you referring to . It could be any lefthander or jennifer lawrence. Get her in the rate movie with the right costar. Shes making so much more money than anybody in holiday, than anybody in hollywood. Thats because he owns the stock. Hes the founder. Right. Vanguard has salim ramji as vanguards new ceo. Its the first time in vanguards 50year history its putting an outsider in charge. He starts in july. I was flabbergasted by the charts you had yesterday with it and the performance in one of the greatest markets of all time, each one of those etfs down 30 . Closed in funds. And i know the difference. It sounded great. Theres no volatility. It goes to 7, but theres no volatility once it gets to 7, and it has nothing to do with underlying assets. He made a pretty good case. I mean 1 pnltd 4 billion is just lying there. Who has that now . Where would that come from if it did happen . If its a zerosum game, blackrock doesnt lose it, do they . No. What es the benefit of it being below the borrowing . You have to think where all of it is. Meantime, take a listen to this. Jpm Jpmorgan Ceo Jamie Dimon urging the u. S. To tackle its deficit. I dont think its the next couple of years, but i think its why we have higher inabout flags, sticking inflation. If you want to do a great job in your country and you have a 6 deficit and 100 debt to gtp, this could go on for a while, but the sooner we focus on it, the better. Im hoping the government focuses on how do we reduce the deficit and have good growth . Well bring you that interview throughout the morning from our good friend wilfred frost. Google stepping up when it comes to its ai offering. As we head to break, heres a look at yesterdays winners and losers. Announcer executive edge is sponsored by at t business. Nextlevel moments need the nextlev