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happy easter weekend to all. the week ahead, i am maria bartiromo. trump media bill of the ipo goal in the trading week, the parent company of truth social charging party for person efforts seller debut nasdaq to separate former president trump says it's more than just a stock. >> has gone through the roof in the true sense it's a where evil in the country and, whole, one of the hottest stocks anybody has seen and we are honored by the.

>> many on wall street are questioning the companies fundamentals, fierce competition from other social media companies like meta, snapchat, x who raked in billions in revenue last year. also, they had many millions of active monthly users worldwide triple social. djd felt% thursday, fueling six concerns of volatility to come with some on wall street comparing shares of trump media to name stocks. joining me now, trump media and technology group ceo devin nu nunes. great to see you, what a week you had, congratulations to you. looks like president trump has five billion-dollar week. how do you respond to the criticism? >> there's always going to be critics because they are doing something no one has ever done. this company is based off of opening up the internet, giving free speech but doing it in a way that we don't use 30 or so

companies out there that have destroyed other tech companies in the past. you are familiar with parler that was multibillion-dollar company in terms of potential and it was destroyed overnight and millions of americans were kicked off social media so the way i look at this is there trying to take the best of the icons you put on your screen so whether tik tok or twitter or facebook, who put that into one app. that's not all we are doing. as we have said publicly, we are looking at streaming incorporate streaming into our app. past that, we are about the entire ecosystem and that's what

we are building and will continue to build. the only other thing important as we start off here is we were held up for two years so we were essentially r&d company on a small budget building up something no one has built before not using these big companies and we did that with the money because we were held up for two years we are a true, a true start of the has access to the capital markets. zero that, cash in the bank with a lot of plans on the way. >> let's talk about that, fundamentals because you reported to securities and exchange commission filings the money does not call the company has not made money yet but you're talking about the cash and no debt, how do you monetize all that you're doing? what kind of cash are you talking about? you do with the cash?

>> what we are going to do is slowly we've been working with a partner called rumble but i think you are familiar with so we are building our own absent or got, it also contributes to the larger political scene we see in this country. that is people in the blue states are doing terrible, moving and lean to the red states. we are essentially kind of the same thing for free speech and if you want to invest in your freedom, get away from woke companies, we are the only game in town and that's why you see people who love america betting on america no a company like social has to be here for the long term. even after donald trump -- one of his best legacies he's going

to leave his he truly went out because he was canceled and many of us were canceled, he went out and created this company from scratch with little money a small team and nobody's ever done that and as much as -- you go back to years ago, this is going to take them $1 billion or more to build, how are they going to do it without amazon, microsoft, it's impossible. we've been running year end a half, we opened up a year ago worldwide so we are going to continue to build up the ecosystem to protect the speech were not only american people people around the globe. >> let me get your take on the investor base because of what you're saying, you think some investors are people betting on donald trump? some investors might want to invest in social media, the ecosystem your believing but the portion of the investors, people

think president trump is going to be president again mcdonald's 58% media work by billing dollars as of thursday's close but the former president is not allowed to sell the stock for another expense, some feel this could be money he puts toward eagle fees are campaign expenses ahead of the election. the company's seven board members can vote to change the timeline and sell stock earlier than this month. you are on the board, is the board considering this? >> this is one of those things onto out of thin air by the propaganda and people who want to see us fail. we've never talked about this as you know donald trump is on a lockout, people speculate about this block was never even talked about it. as far as i know, we couldn't do it even if we wanted to so we jump around. the other big is he is a very is we are back to russia again. the latest thing, we have fake news and typical nonsensical russians, you will love this, it

now this is a way for foreigners including to give money donald trump. come on. we are going to jump, this is going to be the way this company and why people are attracted to us, people are going to be attracted because we are not woke working with the will companies, people betting on america and free speech are going to invest with us that are not buying into -- we go from donald trump will sell shares to which it is going to get trump money, it's ridiculous that as part of what being truth social is. >> real quick -- those investors investing in the company are investing in you as yoko should anybody be afraid you will leave your post anytime soon to join donald trump campaign for the presidency or his administration if he returns to the white

house? >> i get those questions all the time. i left politics because my voice was canceled and millions of voices were canceled. we are going to build out this entire highway in perpetuity, it's going to be death so when that mission is over, i might do something else right now we got a lot of work to do and i don't think anybody should be counting on any election victories. if they really want to change the outcome, get involved in politics. early we are doing at truth social is making sure whether you are republican, democrat or the public, you will have a voice. >> we certainly want that free speech. it's good to see you, thanks so much. grass on a big week to you. >> thank you. >> the ceo of trump media and technology group, the best start to the year. since 2019. your markets going from here.

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welcome back, markets were closed for the good friday holiday but the dow and s&p 500 ending a shortened trading week at new record highs. the major averages high for the fifth month in a row, the longest winning streak without since august of 2020. the s&p 500 soaring better than 10% in the first quarter. start to the year 2019. friday we got the fence preferred inflation gained will prices did not budge month much from the pc the index. joining me now, matson money, founder and ceo mark matson, great to see you. thank you for being here, a great first quarter. what are you expecting for the second quarter? >> it sure was. s&p was up 10% for the first quarter. i was telling investors, no one can tell you where the next 20% will be whether it is up or down

and that's why it is critical to stay long-term focus. historically the next one 100% is always up. he mentioned inflation, that's one thing investors are worried about and rightly so over the last four years inflation in general is up 20%, a lot of people take money out of their 401ks, borrowing money out of the 4o1k for living expenses hard. salaries and income hasn't kept up so even though the market is doing well, there's still a lot of fear and doubt and apprehension and sometimes people are doing crazy things, gambling and speculating with their money and investing for the long term. >> one of the gambling and activating to me is about the fed. earlier in the year we were told the fed cut rates six times, i didn't believe it then and i don't know. now we are down to three times, is it market and for being

disappointed? >> a lot of people make the correlation between the fed and the market. the market reaction to the fed, of course sometimes it does. long-term though, the fed has little control over interest rates, namely determined by supply and demand for money. i want investors against right now gambling with the money, a lot of people running around talking about alternatives to long-term investing. u.s. talks average 10% long-term, small the%, small socks team% but you got people talking about the holy grail of investing and alternatives, private credit same to make 20 to 30% figure and this is extremely dangerous for investors. these people knew how to make 20 or 30% is systemic borrow money at 4%, investing 25% and they would keep the profits for themselves. they have massively high fees, a

massive camel and can't get your money so don't fall into trap and you will be billion are for your viewers, it's not true. >> what is inc. of oil process $83 a barrel, i can't be good for the broader macro corey though if you own energy related companies, it's good for you as an investor. >> obviously if you diversified portfolio, he will have energy but when i look at the energy, i look at the problem or our country itself. the broader economy in everyday living, you got to get energy under control and second energy dependent and you can't depend on foreign countries like russia and other countries, china to get oil from them with got to get back to energy independence and who knows about the election and what's coming after that.

>> where airgas you want to indicate to today? >> they have way too much money and large u.s. growth companies. that gives you little diversification. this 500 companies in the s&p, small value stocks, thousands and category. large value stocks but they also need to look internationally. you can have all equities in the united states, you got have europe, asia, emerging markets and that will go a long way to protect you from u.s. crash in the market. >> good to see you. >> mark matson. a jolt in the bottom line for fast food chains, major brands warning higher prices coming and layoffs have begun. brands on the cost of california minimum wage hike next week that the wage increase april 1. we targeted a price increase.

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she shoots from here? that's kinda my thing. welcome back, higher wages for fast food minimum wage workers in california having a ripple effect of the industry. the status to raise hourly pay to $20 an hour medic but it's coming a cost to customers and employees. roundtable pizza cutting 21% of its workforce getting rid of 73 driver positions next month. brands owned hundreds of restaurants in california and in addition to roundtable pizza including that for, johnny rockets and hopped on a stick. joining me now, brands chairman and founder and former burger do, andy, great to have you. thank you for being here. >> great to see you. >> what you think about this?

increasing hourly wages for fast food workers, what kind of impact has had on your business? >> someone is going to pay for it, prices will go up, operators can't afford it. the delivery driver shift where we have the franchisees laying off 73 drivers like you mentioned, it will move it to third-party delivery services so not elimination of jobs, it's shifting the cost but everyone wants employees to make more money but there is a cost and restaurant operators don't have that margin. we have for 50 restaurants in california and we are paying most of our employees or franchisees paying employees close to $20 an hour anyway so not as dramatic as you might think in california but it's going to creep around the country as other states follow this. >> you still seen gross, he

reported he could be in the fourth quarter but the same-store sale missed, tell me about that. what's going on in terms of that france and the rest of the industry? >> is definitely weaker second half of last year, first out of last year end reno january was a terrible weather month this year, february is better but not amazing. we see the industry climbed back out of the january, february but we are growing, franchisees are building more restaurants 1000 plus store pipeline to be built so we will build 125 to 150 new stores this year so there's a lot of optimism overall and people have committed to growing the brand, the platforms but wage pressures will drive russia's up. burglars will quote the sensor a dollar, pizza is expensive. >> we are talking about wage

pressures because of this forced increase in the minimum wage but we also have inflation, oil prices up $83 a barrel, what are you seeing in terms of inflation and how are you dealing with it? are you passing on the inflation you have to swalwell to the consumer? >> we've seen historically a lot of inflation and cost, come down quite a bit from a year or two ago. food inflation today than reports of prices were raised enough to cover that but if the wage issue, much more than food inflation today. >> who is the demographic of that person who's the fast food worker? of these people out of school? >> when you have wages this hi, i saw an entry level, it is expensive so it's not just the

big chain operators subject to minimum wage increase because of your independent operator and chain operators are paying $20 an hour, got to raise your wages as well what i will go to the chains so it affects everybody blocks out young entry level workers because you got people want to be an amazon driver and not a fast food worker because you will get a lot in wage. >> what about the growth of the company? i know you talked about your recent acquisition of smoking bones, adding to incremental -- andy, is the gross coming from acquisitions in the future or mostly organic growth? tell me about potential for more deals. >> we made it and q4. we owned the sports bar chain and some are going to get converted ahead of our ipo we hope to do this year so we got a

lot going on but we are still looking at france, a function of price and what makes sense and what we don't have in our portfolio, we don't have a copy brand or solid brand or sandwich brand so we might look that way and a big fauci, cookie dough and stuff so a lot of opportunity but with great hi and not sure when they will get cut by how much, we are trying to be thoughtful what to buy and when ahead of this. >> all good points. we appreciate it. we send you best wishes for happy easter.] i got one important thing ahead of next week. of next week. that's next. my protein shake. the future isn't scary, not investing in it is. you're so dramatic amelia. bye jen.

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one thing you need to know ahead of next week, peter cottontail arriving earlier than usual this year thanks to easter's earlier

start date but retailers are not exactly jumping for joy. retail federation estimates easter sales will total $22 billion, that's 7% decline from last year's record high. some companies attribute to the client and sales to fewer days to shop while others say customers are simply tired of three treat close to valentine's day and mardi gras and saint patty holidays. personal-finance site swalwell hub 70% of people are planning to spend less this year on easter than last. make sure you spend your time watching mornings with maria 6:00 to 9:00 on foxbusiness, johnny on monday. i will do it for us on foxbusiness, thank you for being with us. for those celebrating fox have a happy and blessed easter weekend. i will see you again next time. >> barron's roundtable sponsored by global x etf's. ♪