grow. rents are certainly flattening out. not going to seat -- see the rent growth in '24. >> thanks for joining us. it's been a day when the dow was the lone loser among the major averages, but a string of winning weeks for the major averages. that will do it for "overtime." "fast money" starts now. live from the nasdaq market site in the heart of new york city's times square this is "fast money." here's what's on tap. biotech boom. bristol myers announcing a deal to buy karuna therapeutics, giving the lagging sector a lift today. will a rotation in the markets breathe new life into biotech. >> nike the stock tumbling 11%. is this a nike problem or a tale about the health of the consumer. friday fast request live ahead of the final week of the year. we are taking your questions about what you should do with your money. hit us up on x at cnbc fast

money. i'm melissa lee coming to you. on the desk, tim, steve, courtney, and guy. we start off with another historic run for the market. the s&p's late day pullback to lock in its eighth straight week of gains, longest winning streak since november 2017. the index now less than a percent from its closing high. it and the nasdaq up 8 weeks in a row. while it's ban strong year for markets, not everyone came along with the ride. home builders, tech, seeing outsized gains this year. utilities, regional banks, energy stocks and staples all far under perform the market. are the laggards due for a comeback in the new year or will the same leadership continue in 2024? we've seen handsome rotation in weeks. guy, can that continue? >> hard for the leadership this year to have the same type of year we've seen next year. but these stocks have been

unbelievable. congrats to everybody that has been bullish. i will say, energy i think is under appreciated in terms of what's going on. valuations and sort of the tailwinds. i think the space has. warren buffet up to 28% in occi specific but he sees something in the space, and you've seen some of these levered names making all-time high. marathon and psx. i think the leadership is going to come from the similar names, but i think the forgotten names like energy will be okay. >> i think utilities could actually catch a bid because if rates are going to be falling, you'll wind up catching a bid where you're going to earn that income judging whether money comes out of money markets and goes into the market, or whether it goes into individual stocks. those are two different things. energy names really haven't caught a bid. if you look at exxon, chevron, even the companies they're taking over have been in a declining trend. i would say tech and i would go for yield. >> a lot depends also on what you believe to the degree to

which rates will actually decline next year. some people will say 100 basis points easy, other people will say no. >> if rates go down as much as the market is pricing in fed funds we have problems. i don't think it's good for equities. none of us are suggesting that as the clock strikes 12 on new year's eve, that suddenly allocation begins in the new sectors. but i do think that there are places that have really under performed, energy after two years of out performance, let me join in on, that i think it's going to outperform and cease-fire and peace and all these things that we know could be risks to it, i look at where we see brent, well supported, somewhere between 65 and 70, but more importantly, guy referenced the uber cheap valuations within the sector and again relative to the s&p. not -- they're always cheap. i think health care is a place where stock picking is going to work. it's under performed as a group. i think real estate is a case where i don't really like real estate for next year, but this is the other side of it. where is positioning? i think real estate is so unloved and so under valued, and

i think you're going to still get some decent places to be investing there. right now, we finish the year with the same leadership still leading. so semiconductors outperform the s&p by 47%. triple qs or nasdaq 100 outperform the s&p by 30%. making relative new highs as we go into this last week of the year. i don't think that changes overnight, even though i don't want to be overweight in information technology. >> these really change end of october. you started to seat interest rate sensitive companies are outperforming. real estate which you mentioned, banks you mentioned, even things like small caps which tend to take more financing as rates go lower, that's going to end up really being a boost to those categories. i think that trend is likely going to continue next year. and you're saying what if rates don't come down? i think that is something to look at, where rates really right now are basically where they were before the financial crisis and actually things did tend to do well. where -- when rates have been at this time.

even if they don't come down the fact that they have already come down is going to be a good thing for the markets. >> guy is sitting over here smirking -- >> i'm not smirking. >> has me uncomfortable. >> you're in red, courtney green. steve has his jacket going on. what do you have going on? a pocket watch first? >> are you going to a funeral? >> throw it back at me. >> it's the holidays. time to be festive. you look like you do every day. >> i like -- scrooge. >> that's not -- >> the nog high is missing. >> i'm not sure it's this decade. more in the '70s. >> the vest is nice. >> thank you. >> everybody looks nice. >> except swizzle. >> the debate about fed cuts continues into the first quarter of next year. where should we be for that first quarter of uncertainty? it seems like there is agreement that fed rate cuts will happen,

probably by the time we enter the second half of next year. for the beginning part we're still in the debate whether or not it's going to be strong. >> right. so, obviously, technology will benefit. resource trades are going to do very well. there's no way in my opinion if they're going to cut rates the way the market seems to think, the dollar will be under pressure and these resource names that have done pretty well will continue. gold mining stocks have done remarkably well. i think they're finally playing catch-up to the underlying commodity which i think will still go higher. resources, energy, and to a certain extent gold miners. >> you mentioned the dollar, and around 107 and you saw it in september and you saw it in november or, you know, right around when rates peaked, dollar is down 5.5% from that level. so there's no question to me this is an environment for gold. miners with gold doing 14.5% from let's see, from, yeah, early september, but gold miners have done about 26.5 as guy says

they've under performed, it's a great place for copper and for miners. i think it's an environment where we're going to go into next year and go into next year and the job market is going to be the same job market we went out of the year with, which is it's going to be stubbornly supported. it doesn't mean that -- look, the lowest or, you know, lowest unemployment is behind us for sure i think. i think it's weakening is what the fed wants. but all this is taking a lot longer to play out at a time when the street is calling for earnings growth. if you're expecting the first quarter to be awful i'm wondering what that event will be. >> i do like the metals, but if you look at oil, look at the energy names, they are definitely correlated to the price of oil. there's been a supply glut right now. so energy production in the u.s. is at all-time record highs. i don't think they can perform well in that type of environment. metals okay, but i also believe that this run has been the investor offsides.

where does that catch up? middle of january the market has a test and we ramp back up to a bull market. >> under what circumstances will magnificent seven, borig cap te do well? if the economy is softening or if the economy is strong? >> yeah -- >> or both? >> yeah. i mean, a lot of these companies are well positioned and they have good balance sheets. they're continuing to sell, and as the consumer continues to be strong, and they're continuing to sell products and services, that is a good thing. i don't see them outperforming to the same kind of magnitude they have previously. i think that's what you want to look at as an investor. i want to own the magnificent seven. i'm not getting out of those things, but i don't want to overweight them and throw money at them after they had such a run especially if we start to see rates come down. i don't think those are well positioned to outperform as the other interest rate sensitive categories. >> or the passive money in it just too strong -- >> the passive money is in it and also what we're seeing right now is a function of you don't get fired as a money manager

when markets go down and lose money. you get fired when markets go higher and you're not in the mar markets. that's what's going on now. if you didn't own nvidia and stuff like eli lilly, but more importantly didn't own the top of the weighting of the s&p, you will own it now and you're going into '24 saying i'm not going to be short too much unless you're stubborn and say you know what i'm going to get them this year. >> can't get in front of that train. last week, $20 billion came into the speed spiders. they own the s&p 500. i wouldn't get in front of that. >> all right. >> that's exactly right. passive investing, think about apple, we talk about it, the amount of etfs and stufunds the stock is in. they are the recipient and rewarded for it. the same works the other side. when passive becomes active, we've seen before, that's when things get dicey. >> lagging sector, biotech,

karuna therapeutics surging 48% as bristol myers announces a deal to buy the drugmaker for $14 billion. the ivb getting a pop on the back of today's news. wall street firm jeffries sees more deals ahead. michaely joins us now. great to have you with us. we've been talking about bigger dynamics in the market which could benefit biotech, declining interest rates next year, is that going to be enough? we thought that maybe there were times when m&a seemed to make sense and yet it never benefitted biotech? >> well, it's great to be here. i think there are two positive tailwinds. the first is, particularly for this small and mid cap biotech or the xpi, pull up that chart, that has been a big dog for three years. we finally get a real move here over the past six weeks and i think it's the early cycle of a forward looking easing rate environment and i think that

that is going to be a positive tailwind and certainly one of the sectors that should be a beneficiary if you think about long duration interest rate sensitive areas. biotechs are one. the second positive tailwind we have a note out today, we saw it here today is more m&a. you've got over $100 billion of cash sitting at big pharma, bristol deploying 14 today. pfizer has to do more. et cetera. with all these stocks beaten down you see valuations attractive and enough positive tailwind to go into '24. >> what are the themes in terms of what is going to drive m&a? this was a neuroscience deal. neuroscience is one of the fastest growing areas within pharma in general, about 9% globally a year is the growth there. but also weight loss i would imagine. what are other things we should be looking for? >> absolutely. i think theme number one, certainly is in the obesity and metabolic space.

there were two billion dollar deals, roche and astro zen ka buying assets, you will see more of that, one of the ones, take a look at that one to run this year. i think in oncology, certainly still a big place to be imcr that was one listed in our table as well. i think you're right, saraville taken out, prta, another one if the data and alzheimer's are good. if the data is good coming up that's one to watch as well. >> which are the big pharmas that will be most pressured to do the deals? the ones facing patent cliffs and seems like almost all of them are at this point? >> well, i think there's two things to remember. one is yes, the patent cliffs. merck and bristol and certainly pfizer has done a deal, but gilead another one you want to see doing more deals is one, but

let's not forget ira. ira is the first year here where price negotiations are going to start. we're going to hear about this in february. we do think biotech takes a pause, a little bit overbought, but goes higher and ira will be on the minds of people. we have price negotiation, prices coming down 20, 30%. there's a whole theme about why small and mid cap has to be taken out. >> it's tim. we know what gl prngs meant for the pharma space in 2023. what is that area of '24 that you think will be the new area pushing up valuations and multiples? alzheimer's, more glp, your thoughts? >> yeah. look, i think glp and obesity is a once in a generation type thing. guys, if it was all obesity now, maybe we talked about hepc, about ten years ago, and statins a decade before that.

these are the big ones. i think what's important these cycles go into the year. talked about how 2023 was glp. i don't think that end hes in a year. i think you still see that as an important driver for lilly which is continuing to be a winner and people want to own stuff like that. astra, roche, others, amgen, let me call out my favorite large cap stock, they are in a phase two for a big obesity drug with data in 2024. that's a monthly, not a weekly, like eli lilly. check that out. you will see this play out over the next year or two. neurology, i think still alzheimer's will take time to open up, but that is a huge untapped area and we seema there. that is a a huge global economic to be addressed. >> the calendar in terms of data readouts for trials related to glp-1 of diseases is nonstop next year. in terms of amgen, that key data is going to be due out in the second half of the year. when do you want to start

opeowning it? >> everybody on wall street knows if you've been following amgen, they've been saying their data for once a month injectable is the end of '24. why to i have to buy this stock today? if everybody knows it's end of '24 maybe it's been summer or if it's the stock to own for '24 in large cap biotech because of this angle maybe people start buying it at the beginning of the year. buyers on the dips if we have a pullback at the beginning of the year for biotech but one to watch because i don't think the obesity story ends. >> thank you so much. >> thanks. >> michael yee. that was your play, right? >> yes. amgen hasn't moved wait the others in that space have moved. and to what michael said, we're talking about a once a month injectable. that's probably a game changer. as we move towards that, it's probably going to be better than that. i would rather have the name that hasn't moved and amgen is one. >> if you look at the eighth largest holder if we have a

chart, little double bottom getting traction. vertex is the largest holding in the ibb. that stock has been parabolic. trying to find stocks, i think, that haven't had to move. steve mentioned amgen and i throw qb in the mix. >> the severe underweighting towards biotech, where are you? >> i do think that it is likely going to be another category that will benefit from lower interest rates. especially it's going to have more m&a. you want to look at companies where the patent expiring is going to be a big deal for a lot of these companies so even if they are scooping up other firms, it needs more than to offset what they're losing. that's what you keep an eye on. >> we talked about pfizer. i've talked about it. a patent cliff and pipelines that people are concerned about. bristol myers is rewarded for doing something. they're right if that camp and you have to be careful about value traps in health care. trades at 7 1/2 next year. analysts think this is part of

them giving the excitement around pipeline that gets them into 2030. that's a ways out. so this is where we are. biotech, great point, courtney, it is a place where longer duration assets are being bid. high multiple anything. in the case of these companies in the ibb, massive companies with big balance sheets and i don't think you're taking a lot of risk in terms of that and probably going to be rewarding the balance sheets. >> up next running on empty. nike dropping into negative territory for the year with a weak outlook and $2 billion in cost cuts. is this a nike problem or a broader warning about the consumer? we'll debate. is china set to launch a new internet crackdown. beijing proposing restrictions on online gaming. the news crushing tencent. could this be the start of new pain for the chinese tech sector? stick around to find out. this is "fast money" with melissa lee right here on cnbc.

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now i can buy that electric scooter! i'm starting a private-equity fund that specializes in midcap. you do you. visit xfinitymobile.com today. welcome back. shares of nike tumbling 12% after the apparel giant slashed outlook and announced a three-year, $2 billion cost-cutting plan. the earnings called said

overseas headwinds and slowdown in digital traffic are part of the reason the company needs disciplined cost management. a host of other names getting hit. foot locker, adidas, dick's, academy, so is this a nike problem or broader warning sign about the consumer? tim, what's your take on the earnings? >> it's both. no question it's both. i'm underweight consumer discretionary for sure. nike is best of breed but there's -- you wear these shoes. >> yes. >> i mean -- >> there's -- there actually are brands out there stealing the thunder and not just what's going on at lulu. there is competition outside the jordan space. concern nike is not innovating, concern of ubiquity in the lower price levels of the jordans. a guy went out and bought his kids some for christmas -- >> >> spoiled that. >> good job. >> do you think he's watching? >> every night. >> connor, you are watching and you confront me with this when i

get home i'm buying you two pairs. >> hope connor is watching. >> what we're seeing from the street is a combination, when looking at downgrades after the nike numbers blaming the company but they're blaming the trends and downgrading the whole space. a handful of shops and i think it's night china was weak by could point to trouble for some other retailers. >> that specifically is where nike is pointing out weakness. i do think it is broadly on the consumer. there is consumers that are going to be weaker next year but a changing of shifts of how they're spending and after covid everybody started spending on experiences than goods. this is going to normalize after covid ends, and it has not. it's a trend that's happening and you're going to see it happen. i don't think it's broadly bad for the consumer. likely for consumer discretionary, it might be. i wouldn't write off the consumer. wages are cooling but inflation is cooling faster. wages are still being able to

sustain. >> inflation is coming down more broadly. you have more money in your pocket because you're not spending on gasoline and eggs. >> agreed. as tim mentioned many times, nike, regardless of all their growth it's a north american story in terms of where their revenues are and that was disappointing. we touched on it last night. i think the good news, if there's good news here in terms of where the stock is and been historically, this was $175 stock a couple years, november of 2021. not that that matters. but they've had a premier multiple for a long time. the multiple is getting to levels where you can wrap your he around it a little bit. we talked between 105 and 108. here we are. the question is not you're selling. i think it's where you're trying to get back in on the long side. >> tim said just the brand. the biggest brand. they don't have a nearby competitor but it is a global brand that that's what drags them down. even though guy points out that north america is the key to the story, china is the directionality of the story.

so all china has to do is get a little bit better and it's going to be a lot better for nike. the problem is, when we're trading with this type of momentum in the name, it went from 80 to 120 something so if you wpant to rephrase 50% it's around guy's level, look around 100 to 105 where the algorithms kick in. >> are you looking to get back in? >> i'm looking to own it lower and the first place you start lowering, guy brought key levels ob on the charts, somewhere around the 95 area. this is a stock that moved 40% off that october 1 level after an earnings period that was very strong. i think you're going to get it lower and i think the space in discretionary you have to be careful. >> there's a lot more "fast money" to come. here's what's coming up next. >> inside china's latest crackdown. investors are sounding the alarm as the gaming industry becomes president xi's latest target.

we'll dive into what it means for your money with a top expert next. plus, we're answering your burning questions to kick off the holiday weekend. chipotle, cloud stocks, and quantum computing. you asked, we'll answer. right after this. you're watching "fast money" live from the nasdaq market site in times square. wee ckig aerhi'rba rhtft ts. the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com

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you can stay on top of the market from wherever you are. e*trade from morgan stanley. welcome back to "fast money." we are taking your stock questions ahead of christmas, merry christmas. we have sourced questions from all over the country and on social media. the first from the energy patch on the energy sector. >> hey, "fast money." this is bob frontal boundary

louisiana. i work in the pipeline industry and own stocks such as energy transfer. with the new year approaching is it a good time to buy, sell, or hold? >> literally from the energy patch. tim. >> wow. >> i mean that guy is wearing a hard hat. is he coming off a rig? this is a lot of pressure. that guy knows what he's talking about. energy transfer, my energy basket would be chevron, total, schlumberger and energy transfer, and to me it's a combination you get very, very tax efficient dibs in the space, especially in the mlp space. i love what's going on in the offshore drilling space. we talked about it already earlier in the show. i just feel like energy equities are cheap relative to themselves. i realize there are macro problems out there and want to own equity. >> what would be in your basket? >> mine is psx and marathon. looked like bruce willis in that

movie he plays the driller and gets on the asteroid. >> asking me do i know movies? >> despite the run it's had. it's been a huge run over the last three years. look at that. >> oh, man. >> i hope he's watching. >> he's definitely watching. >> still reasonable on valuation. i would say with your e.t. >> next question, comes from x, jason wants to know about risk yan, i'm impressed with rivian for my next vehicle but can only afford shares for my long portfolio hold. any advice. you had been in rivian. >> i am not in rivian. bought it around the $18, caught the spike higher sold it with a 22 handle on it. i think it's about cash on their balance sheet, about their ev production. they're still a distant second to tesla. tesla holds the marquee name. i will get back in. i have to have it sell off a little bit and i think i will get a chance. >> would you rather steve, to follow up, tesla on risken.

>> >> tesla with the charging map they have across the united states where everyone bought into their charging standard is going to be untapped revenue for them. their product lineup, they have been able to cut prices with the rest of the space can't cut price. they cut price to gain share. that's going to be the story and i think the amount of money they will pull in off their charging, is going to be something that no one has even thought about. >> next question, c.t. wants to know about fin tech. it's had a huge run but i'm still under water should i bail or will it keep climbing? >> i mean it has had a huge run trade down to 4070 something now. jpmorgan raised the price target to 90. i think there's a chance it gets there. that has been resistant before. karen would agree, it doesn't matter if you're under, over water, it only matters where the stock is going and i think it's got about $13 to the upside from here. >> are you in the fin tech water

at all? >> we are diversified. i'm going to have a piece. that's not one of the areas i'm chasing, but we want to own that. >> after 100% move, i think this is one of the great beneficiaries of high multiple tech stocks. their cash app is still place drawing. i would rather own paypal. coming up, china's proposed gaming crackdown ringing alarm bells for investors. could this be the start of a new host of controlling measures by beijing on businesses in china. we will be taking more of your burning questions and tackle the fast food trade to quantum computing. more "fast money" right after this. >> missed a moment of fast, catch us on the go, follow the "fast money" podcast. we're back right after this. you know when you have those moments? that time to reflect. to be like wow! what did i do to get here? (tense music) right. work.

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welcome back to "fast money." stocks end the week with a mixed finish. the dow ticking lower dragged down by nike. s&p finishing higher. locking in the longest weekly winning streak since 2017 and the nasdaq closing in the green ending up 1.2%. disney shares falling despite bank of america doubling down on

its buy rating saying best in class premier assets like theme parks should see robust demand in 2024 and american express finishing at a 52-week high. the credit card company up 25% this quarter. the chinese tech stocks broadly lower after regulators in beijing propose rules to crack down on how much consumers can spend using on-line gaming apps. company got hit hard today. the next guest believes the latest rules adds to a climate of uncertainty for businesses and investors in china. always good to have you with us. this really is quarterly focused, you know, when you first look at the headlines you think about the american gaming companies no impact on the u.s. gaming companies. this is about the homegrown gaming companies in china which makes it more dramatic. how much of a parallel is there between what is happening here in gaming and what happened with

alibaba and some of the other tech giants a couple years ago? >> well, thanks for having me. always good to see you. let me start by saying, i was actually surprised by the substantial reaction that markets had to what are essentially draft regulations. this process is open for public comment until january 22nd. so that's a month from today. but what it says to me, this reaction says that companies have an apprehension about the efficacy of china's regulatory public comments process. this is a challenge. investors believe a drafting me glation believes this is where the regulators, the government wants to take an industry and it's best for them to get there and get there quickly. this rapid adaptation will have an impact on the bottom line. if these companies are able to change their revenue model to the point where they can earn revenue in this regulatory

environment, the question remains, as we saw with the tech industry, is this it or is there something else to come? so when are we going to have a stable, regulatory environment where a new normal has been established? without that, it's going to be extremely difficult to have the long-term plan and this will impact companies' bottom lines in this industry. >> it's tim. i think your analysis of the market response is interesting, and, you know, i think you've got a great call on this. isn't this -- didn't you answer your own question. like it's exactly right, investors are questioning this process. it's fool me once, shame on you, fool me twice shame on me. tencent seems to be in the cross hairs of multiple sectors that seem to be, you know, seen as strategic priorities, strategic industries. the cyber dynamic of 18 months or two years ago is one that took down alibaba and tencent aggressively. as you drill into things like gaming, and it just seems to me

there is no place to understand where it stops someone who has been investing, i've seen this go on where the government was going sector by sector, that's what it feels like. >> yeah. i think you're right, tim. i will give the investors in this space a little bit of credit because it's been a whipsaw. late 2021 we saw heavy crack down. this year we saw some games being approved, and so it was -- we were unsure whether or not we were done. i think today we got a real signal that we're not done. so it's very hard to call in these sectors. it may mean for investors that once a sector is targeted, no matter how moderate the regulatory environment may be that they back off because they don't know what's coming. that's what makes this so challenging i think for investors. and companies trying to operate in this environment. >> so there's uncertainty for investors when it comes to the regulatory environment and then also understand because of politics. the taiwan elections are in january. how much of that is going to be

a reason for the u.s. and china to tussle once again? >> well, i think you've seen the biden administration try their best to put a floor and i do indication a floor under the relationship, understanding how challenging the 2024 environment will be, starting in january, with the election. presidential election in taiwan. if the dpp, the democratic progressive party, the current ruling party wins again, i think we're going to have to really see how china responds to this. they don't have the greatest -- they don't have the greatest respect for the current ruling party, but it's looking like it will it be the dpp's election to lose an right in january we will get a sense of how china is going to play this. this will have an impact on u.s.-china relations going into a november u.s. presidential election. it's going to be a volatile 2024. i think understand should keep that in mind.

>> do you think president biden or any congressional leaders call the winner of the taiwan election? >> call meaning like pick up the phone. >> i'm familiar with what trump did, which certainly broke tradition. i don't expect that we will see that from this administration. i think that was an anomaly. we survived that. that was a very, very provocative move many people will argue. i don't expect we will see that from the biden administration. >> thanks. happy holidays. >> happy holidays. >> guy? >> i mean we talked about it the other night. part of the selloff, wednesday's selloff, or whenever it was, was on the back of the headlines a few weeks ago president xi and president biden spoke and president xi said any means necessary we will take taiwan. that came out. the fxi, if you look at this precariously close to breaking down, 21.5 recent low. 15 years another low. closed at 23.

lower on the day. i think that's telling you something we can't discount what's going on in china. >> coming up a studio shakeup. lions gait planning to split from stars. the details on the studio's plans next. more of your pressing investing questions. have a stock pick send us on x and we might answer your question live on air. back right after this. >> what was my ambition when starting out? survival. >> i love the word ambition. >> ambition is passion. >> it's a key ingredient of greatness. >> to me, ambition is being undaunted by the impossible. >> i'm ambitious for the nation, i'm ambitious for its people. i'm ambitious for my people. >> i ambition has been to seek the truth. >> learn as much as i could. >> make an impact. >> i believe in dreaming big. i always have. >> ambition is to show gratitude. >> ambition. it's got american written all over it. >> ambition is the foundation of

capitalism. >> i wanted to do great chigs in this country. >> my ambition is to do very well in business and take those profits and recycle back into society to make the world a better place. >> everything can be a reality. >> i see ambition. >> many ways human ambition is what drives the world.

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are you sure no one is watching? gwen mallard! do it now, or we leave without you. ok. welcome back to "fast money." lionsgate announcing today it will spin out its studio business in a spac deal with screaming eagle acquisition corp. the deal values the newly created lionsgate studios at $4.6 billion. it's expected to close in the spring. lionsgate media business including starz streaming service will not be part of the deal. there will be stand alone starz and stand alone lionsgate studios. which frees each piece up to be acquired either in part or in total. this is sort of an interesting unwine of this deal with starz having been done in 2016. >> like ten years ago, i was off, but it seems like forever ago and maybe start getting critical mass. how do you trade the stocks? i wouldn't begin to whether lgfa or lgfb knows how to value these

things. we talked about it the other night, the warner brothers-paramount thing, i don't understand how that benefits anybody. you saw how disney traded on the back of an upgrade. the space is in trouble. >> i'll take the other side of that just to say i think things are in play. i mean, i think you've been waiting for m&a in this space and there's now private equity that is specialized, whether it's -- the red birds or the groups or really, really smart private equity that are in the space already. but i think you've gone through this period where we know legacy tv has been priced to nothing and somebody that wants those assets, brands, station, we know what's going on with streaming profitability and i kind of like it. >> apple looking for studio action or sony or some -- before nobody wanted the starz part. free of the starz part now. >> i think this is the time where that can happen because of the actors strike and writers

strike. if you're not putting out content that is trouble for the space. it's prime for the mergers and acquisitions. >> everything we're seeing in the space really lets you know how valuable the netflix prospects are for them and i was not a believer in that. i thought once the actors strike was going to resolve itself, i thought the stock would cave. we saw a little bit of a pullback but all the things we've heard since then, lead morse of a tailwind in my mind towards a netflix. >> coming up, more fast request live. your chance, your last chance, for today at least, to send in your burning questions. head to x, tweet us or post to us @cnbc fast money. we might answer your question on air. refa meyafr mo "ston" tethis.

i'm a little anxious, i'm a little excited. i'm gonna be emotional, she's gonna be emotional, but it's gonna be so worth it. i love that i can give back to one of our customers. i hope you enjoy these amazing gifts. oh my goodness. oh, you guys. i know you like wrestling, so we got you some vip tickets. you have made an impact. so have you. for you guys to be out here doing something like this, it restores a lot of faith in humanity.

welcome back to "fast money." more of your questions. this comes from a viewer in oregon who is curious about a "fast money" fast food favorite. >> hey, "fast money." my question is about chipotle. it's one of my core positions that has been on a tear with a 60% increase year to date and 20% up in the past two months. it's now 9% weighting in my portfolio. the p/e has been stretched out to 53.

had a lot of good growth. what should i do, let it ride or trim some? thanks. >> the run has been a burrito blowout. >> sure has. >> this year. >> emphasis on run. >> it's a huge -- exactly. no pun intended. it's a great company. valuation has been a concern for a thousand dollars at least in terms of the name. about if it's 9% of your portfolio whittle it down to 5 or 6%. they report on february 6th. the stock has pulled back over time. i still love the name. i think wedbush has downgraded it. worried about valuation there are names to worry about more. >> let's say you do whittle it down, but want to put that money back into fast food or some restaurant name. where would you go? >> i think a few. mcdonald's is a good name to look at. i don't know if starbucks counts as fast food but another name you want to look at here. i think you will continue to see that customer loyalty in those.

>> our next question from a viewer in new jersey on fin tech. >> hey, "fast money." my name is kyle from ocean city, new jersey. their ceo said they will be profitable at their next earnings report and with the fed lowering interests in 2024 what do you think of sofi technologies? thank you. >> thank you, kyle, from new jersey. courtney, your thoughts on sophie? >> sophie -- sofi is 110% this year. they've had such a tremendous amount of growth this year, specifically acquiring customers. the question i think when you're asking is what happens when interest rates go down. higher interest rates benefitted them because they're offering good deposits to customers and it's able to attract them. seeing if they can maintain such a high growth when interest rates come down is interesting to see. if that changes i think that might be a different story. i would proceed with caution after a big run-up here.

>> what was kyle doing in the woods? >> i don't know. >> great ink. >> taking a walk. being with nature. >> all right. >> mr. city sleeker. >> there he is. >> a little river behind. >> now we make fun of our viewers? >> we're not making fun. >> he's out in the woods taking a wuk. >> move on here. >> viewer from texas who has a question about snowflake. >> hey, "fast money." it's tray in texas. we snowflake investors asked them to deliver us a green christmas and did he ever. at a 65 billion market cap, i will admit the company is modestly overpriced. will we grow too this valuation or should i move into small caps as legend tom lee suggested? >> thank you, trey, for your question. what do you tell them. >> i like tom lee, but when you look at the stock they've done things to perform well.

look at a long dated chart, go further back, the stock chart looks terrible. they've been doing all the right things. the problem is they can't gain any market share because people have gone with aws or microsoft. i don't know if you go with small cap, but i wouldn't be a buyer here. >> trey is right. $64 billion market cap sitting on top of $3.5 billion of revenue is expensive. if we have a chart going back to august of 22, we stopped on a dime where the stock is trading now. yes, the ceo delivered, but i think now is the time to sort of be taking money off the table. >> our next viewer hails from georgia. she's got a question on quantum computing. >> hi, "fast money." it's kate. out of these four companies, i'm really interested in quantum computing. ibm, google, microsoft, or honeywell? which one is your favorite? thanks. and hain newhappy new year to

everyone. >> same to you and thank you for your question. >> kate might be in the same backyard. >> like kyle. >> by the way, kate, your dogs were robbed. the bull dog should be in the bcs. i don't know what happened. you deserve better than that. i think microsoft and google. when i think about cloud, i think about quantum computing, when i think about ai on steroids i think about the companies that have the investments making money now. those are the names that are also -- i look at google and the chart and out performance. >> you think about quantum computing a lot? >> all the time. >> what he's not thinking about vests, he's thinking about quantum computing. >> we were talking about quantum computing how we tonight think about quantum computing too much, but you made a good point that -- and you did too -- ibm should be -- they were first in a lot of things, but do you think they're going to take -- >> throw up ibm. are we allowed to mention 60 minutes. >> i don't know what the rules

are. >> he they did a great story. a chart, six-year high, a stock a lot left for dead except sandy kennel has it. >> in swift or something like that. >> something like that. >> ibm is the place to be. >> ibm in because he needed an "i." >> it worked. >> it worked. good for him. >> but -- >> what about what's your acronym again? >> two years ago. >> when -- almost acronym time. >> when do we tally? i think i'm in the hunt this year. >> maybe. >> four-year companies are out of business. >> what he's talking about. trading at schwab is now powered by ameritrade, giving traders even more ways to sharpen their skills with tailored education. get an expanding library filled with new online videos, webcasts, articles, courses, and more - all crafted just for traders.

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time for the final trade. tim and his vest. >> i'm going back to bobby an he nailed it on his mid stream but also energy transfer. i like energy here an the space. >> steve? >> ethereum trust, it's up, it sill has more gas in the tank. >> alibaba. there's issues and regulations, but price is back to ipo levels,

10 fold increase in revenue. earnings take a look at it. >> guy? >> happy holidays, merry christmas to everybody. mid tronnics, getting a bounce here. >> see you in the new year. thank you for watching "fast money." ar rhtowr " with jim crame sttsig n. >> my mission is simple. to make you money. i'm here to level the playing field for all investors. i promise to help you find it. mad money starts right now. hey, i'm kramer. welcome to mad money. i'm just trying to make you some money. my job is not just entertain, but to educate you, to teach you to be better and best. so call me or tweet me at jim cramer