exclusive interview with the ceo of zscaler, that's tomorrow at 4:00 p.m then, a crazy hour of earnings here zscaler is down, dell way up, a lot in between hey. that's going to do it for now for us here on "overtime." more to come "fast money" starts now. on a night where the nasdaq set its first record close in more than two years, we're coming to you live from the nasdaq market site in new york city, this is "fast money. here's what's on tap tonight the s&p joining the nasdaq in record close territory this extra day of february all major markets all closing out with its fourth straight month of gains and some stocks and sectors have really jumped past the competition. can they keep their lead or they have to come back down to earth? plus, the next big thing for glp one already being used to fight diabetes and weight loss are there even more applications for these drugs? and how big can the market for them get we've got some answers.

and later, china's auto boom why cars made by the country's manufacturers are in such high demand around the world. and what that could mean for american companies trying to compete. i'm melissa lee coming to you live from studio b at the nasdaq and we start off with the last of the three major averages to set a record close this year the nasdaq making the most of this extra day of february and leaping nearly a percent it was the first time the index closed at a record since way back in november of 2021 the s&p and dow also ending the day higher with all three indices notching a fourth straight month of gains. but a couple stocks in particular really caught our eye. so much attention on nvidia this year, but look at amd, up 9% today, nearly 15% in february. retail also seeing strength, are ralph lauren seeing its best month since 1999 the single best performing stock on the s&p this month, constellation energy, up 40% for its best month on record so, as you had ed into march, do you stick with the stocks that have leapt ahead

or do you look for the names that have been left behind, guy? >> i see what you did there. remember the grinch, trying to figure out, like, christmas, it qaim without packages, boxes and bags, remember that whole thing and he was trying to figure out why christmas still came and nasdaq is doing it without apple, we'll talk about, and i know google today. so, it's really impressive, the performance over the last few months without question. today, amd, though, you know, you mentioned it, so i'll talk about it, $15 after the move that it's had, after the earnings release that we talked about when we were down in florida doesn't make a lot of sense to me, but you trade the market you have. not the one you're wishing for so, yes, i guess you stay with the winners in this environment, because quite frankly, they have given you no reason to get out >> i feel like you were going to say no -- >> it's just a tough call here listen, as abn investor, as a pundit, i'm stock -- >> are you torn, because you believe the market doesn't deserve this market, you believe the market shouldn't go higher,

and yet it still does. >> fundamentally, i feel like things feel okay right now, like, in general and i think about this, we're coming on the one-year anniversary of svb, we're going to talk about another regional bank the thing that got everybody offsides last year, we were so convinced we were going to have a recession, from the best economists, the investors, everybody. and they injected this liquidity, so, here we are now, and they kind of do -- the term guy uses, theyal chtheyalchemiet cycle. guy made a great point the ndx already made an all-time high it's up 7.5% from its previous all-time high, and you are doing it without apple, you are doing it without tesla, okay, if you're looking at the mag seven. and you are doing it without google, too, so, i think it's getting more collective. i know tim is going to talk about the broadening out here, but i don't think, and this is where i got myself in trouble the other night, i think --

>> when you cursed >> the quality of the names -- >> potty mouth >> my mom texted me, by the way. it's getting worse >> mrs. nathan called you out. >> yeah, sometimes we talk about things going down on the same news over and over again, and i think we're in the opposite phase right now, just looking at amd after dell, which was up, you know, in that whole frenzy of just a.i. and anything related to a.i., and they certainly are in that sort of peripheral circle. so, we're seeing things up again on the same news over and over i don't know how lock that lasts. to me, if it happens in march or leap day, whatever, it doesn't really seem to matter. not going to change that i do. but this feels a little bit frothy >> you did buy dell. >> i did buy dell today. and you know you have the wrong sized position when you feel bad if it goes up or down. you feel like, should have owned more, but anyway, it just seemed to me, you know, it used to be that hardware traded at a much different multiple and dell's multiple at 14 was seen almost toll me, almost old

school multiple, especially if you think about apple -- i don't even know what the hardware software multiple is there, but -- and then i think this is an underpromise overdeliver company by their own description. >> semis were up 10%, up 18% on the year that's not the story of the month. the story of the month is the xrt up 8%, is transports making not, you know -- all-time highs. industrials, that chart is ripping. yes, the market is broadening. everybody wants to look at the equal weighed s&p. small caps been lazy, sewly catching up to the party, but the broader market, i'm talking about gig sectors that are underperforming are actually taking the lead. bio tech is certainly up, 14% this month, but to me, it really is the real company. it's that banks, after a 30% run, have managed to make another 15% run. it's that gm is now up 56% from october 26th, and a lot of other industrials -- how many times

have we talked about caterpillar, said, well, this is probably it, and they had a difficult earnings period and yet the stock shoots higher. to me, february was the month that the market decided to be not just seven stocks. it's amazing how we get this all-ty all-time high in the nasdaq, on a day when core inflation gauge hit the lowest level since march of '21, so, last time the nasdaq was at these highs was right at the end of '21, before the fed embarked upon an aggressive strategy, so, you know, a lot of this has to do with benign inflation, less fed, and an economy, frankly, that's not given way. that's why the real economy is outperforming. >> sounds like goldilocks, guy >> you didn't just say that. it's leap year, right, i mean -- happy birthday to all the cats out there -- >> when do you celebrate >> you don't >> you don't choose. it's got to be the first of march. >> think about -- opportunistic you could be with your age >> you could play -- >> i don't mean you.

>> play for the mets, i mean, they have trouble -- >> i don't know why that came it's not relevant. >> you mentioned constellation energy, this is not me pulling things out of the hat. this is an energy stock, they reported, i think, on the -- two days or so ago, right? look at the move that this stock has had, it was a good earnings release, but not ridiculously good i mean, this stock went very parabolic, like a lot of these tech names it doesn't make a lot of sense to me, and this is somebody, by the way, that is bullish in the space. so, when you see other sectors acting like this, at least you got to say to yourself, whoa something is a bit as cue here >> one thing i want to take some issue -- it's one thing to talk about the stock market broadening out, it's another thing to talk about where s&p 500 earnings are going to come from, or where they're expected to come from and a lot of the gains in this double-digit expected earnings in 2024 are expected to come from the largest market weighed companies that have driven that performance. so, the point is, the economy

does start to slip, okay, maybe those large cap tech stocks are going to be insulated for a period there's a lot of recurring revenue and the like but at some point, we will see the job cuts move to cap x cuts and the like here, and you will see a normal business cycle come back we've seen it in digital ads, you know, that was one of the canaries in the coal mine, at least from some of the earnings that we heard back in that q-4 earnings period. so, my point is, you have to focus on where the expected earnings growth is going to come from, and those groups will not save you retail will not save you energy will not save you some of the other ones, you know what i mean? to me, there's a big difference there. >> i'm with you. i'll push back on that and say, we all know in '23, when the s&p was up 26%, 17 points of that were all about multiple expansion. and this year, 65%, 70% of the 6% increase or, you know, 4.5%, is all multiple expansion. so, we know that the earnings have to keep score, but when do they need to come in and play their cards, or, when does that

hand need to actually work because it hasn't needed to work it hasn't needed to work for the last couple years. i don't think that the market can go unabated up higher. but the market is certainly telling you that there was a bear market for a lot of stocks in the first half of '23, if not three quarters of '23, that are only just catching up now. and i think there's a lot of allocators out there that have recognized that. look at health care. it's not just bio tech look at the big sectors. utilities. and i think utilities haven't really rallied people are going to be looking at that. so, i just -- i hear the fundamental argument, but the market, to me, tells me, it doesn't necessarily need to respond to earnings in the short to medium term and sometimes even in the long-term, because i feel like we've been doing this for a couple years >> are we waiting for a shoe to drop with the consumer >> i mean, we've been waiting for that shoe to drop for awhile >> long time and it has not happened. >> it has not happened including like today so -- i think, though, that retail was so oversold, because

it seemed like herb -- including me, down on then consumer, they weren't going to be spending, yet they're still spending but it's not like those stocks are in crazy land. look at something like macy's, which has a takeover issue now, but you know, what's it trading at, eight times earnings and that's off a big rally so, that never should have been where it was $9 >> yeah. i think we have a case where the consumer, we do have jobless claims today, we got continuing claims, there's nothing in this data that tells us that the fed has killed the equity market but it gets back to -- if you think about how people were investing a year ago when we really thought the fed was going to bite, they were going after giving them a great rally, because they knew the fed was there, like the dollar stores. and target to some extent. and i think that's where you have some more opportunities here and there's -- there's the big box stores and the places that we know have been -- have had their different secular challenges, but i still think that there's a lot of stuff that has not rallied and a lot of

stuff that really is -- if the consumer has a job and they're not falling apart credit wise and the banks are telling us that, not so bad >> we have breaking news here on new york community bank shares the bank discloses internal controls issues. leslie picker is on the fast line >> hey, melissa. yeah, the plot really thickening here those shares down more than 15% in afterhours. there was an 8k that came out detailing material weakness in internal controls. the company says management identified the issue which resulted from ineffective oversight, risk assessment, and monitoring activities, and nycb says the investigation is not yet complete, but a remediation plan will be disclosed in a 2023 10k. the company decided it needed to take an additional $2.4 billion charge to its fourth quarter

earnings, as well. now, the company also announcing a new ceo, after having taken that executive chairman role shortly after the company's fourth quarter earnings. one director resigned in opposition of dinello as ceo so, remember, it was those fourth quarter numbers showing several troubled commercial real estate properties, that initially spooked the mark, began kind of the spiral that we've seen in shares those declines ultimately cut its share price in half, and obviously continuing the decent today in aftermarket trading, melissa. >> leslie, thank you leslie picker. shares down 15%. karen has been digging in. the timing of these resignations, very interesting they didn't happen just yesterday, today the the day before -- >> they happened on the 25th, on sunday and i don't know if they're sort of hiding behind it, those changes don't take effect until

today. to me, that's a little -- what would you call it, guy -- >> guyfugazi >> right for any company, this is bad but if you are a bank, and if you are a bank that recently had a terrible chapter that you are trying to get past, where you had, you know, you had completely mismarked or paid way too much for your assets or whatever it was, and then to come out with this, so -- it makes me -- you know, they don't have their 10k out yet they have to get an audit to get the 10k out, so -- this can't be good for so many reasons the infighting, what's going on? i've never seen a chair of the board, i believe he's the chair -- >> dinello >> no. >> the one who resigned. >> in his letter, said, i did not agree with naming this guy the new ceo. >> the ceo, the former ceo, resigned on the 23rd >> oh, that happened on the 23rd

i thought that happened -- >> no, that happened on february 23rd he notified them of their resignation. the 23rd of february >> okay. so -- that is ridiculous that we don't know that on the 29th. so, clearly, there -- it's sort of -- i don't know, best case, they're being way overly conservative that's the best case i fear it's a different case >> well, it's also interesting, because dinello was seen as actually someone that the investor community was very, very comfortable with, given the role he's played in the past in other reorgs he comes over from flag star bank the potentially interesting part of this is, they acquired flag star the person who is saying, absolutely not, this guy feels like there's conflict there, oom not suggesting that, i'm suggesting there are a lot of complications here and this is a guy seen as a consensus, you know, someone to come in and calm the waters and actually get in there and figure out what was going on.

look, he may, in fact, have uncovered a lot of good stuff at this point >> tim's a fan of stevie ray vaughn -- >> double trouble. great album. i think he's a bit overrated >> disagree. one of the lyrics, and this is pertinent. >> thank goodness. >> money's tight, nothing's free won't somebody come and rescue me that's what's happening here they're not going to get rescued. i've said this, and i believe this, the unintend ed consequences of zero interest rates, it's made places like this extraordinarily lazy. and they don't need any internal controls, because there's nothing to control so, this is a fallout, i think, of all this central bank sort of largess. this might be the first, it's not going to be the last >> i take a little bit of issue with that. i i think is them, their purchas of assets -- >> might be. >> i don't think that this will be a contagion i think it will be contained, but i mean, maybe it allowed

that environment to build. >> right >> they had a lot of time to check it, right? >> i don't think they will be a contagion, i think it's, though, endemic of maybe a lot of these, like there are other banks right now scrambling, saying, what do we have? what should we be looking at i think that's inevitable. >> i'll take a little issue with your taking issue. >> he's agreeing with me >> i don't know if he's right. my view is that new york community bank is somewhat unique, yes, because once they went over $100 billion, the bright light of regulation and different regulation and more regulation is on top of them so, when you see that, so, that is idiosyncratic and they were forced to buy banks and people thought, hey, they were sweethart -- >> they chose to >> okay, but the point is, they are under a level of scrutiny that i think other regionals are not right now, and that's not good, because that level of scrutiny, i think, gets back to guy's largess -- >> other problems at other

regional banks that don't meet that threshold may be being papered over at this point -- >> absolutely. >> because it doesn't apply to them >> even though i think they've got very idiosyncratic issues going on here, but it gets back to, haven't we thought that regional banks were in a lot of trouble based upon cre and dynamics that i think -- we all know are coming. so, i think this is fascinating. >> the stock is down 17% plus. we'll keep you posted as the developments come in. coming in, apple shares clinging onto a level. the chart master will talk about that. but first, china in the global auto market don't go anywhere. more "fast money" in two 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. and with guided learning paths stacked with content curated to fit your unique goals, you can spend less time searching and more time learning. trade brilliantly with schwab. welcome to ameriprise. i'm sam morrison. my brother max recommended you. so, my best friend sophie says you've been a huge help. at ameriprise financial, more than 9 out of 10 of our clients are likely to recommend us. our neighbors, the garcía's, love working with you. because the advice we give is personalized, -hey, john reese, jr. -how's your father doing? to help reach your goals with confidence. my sister's told me so much about you. that's why it's more than advice worth listening to. it's advice worth talking about. ameriprise financial. fresh, warm hot dogs! when i'm not selling hot dogs, i invest in a fund that advances innovations like robotics.

fresh, warm hot dogs, straight out of my torso! one for you, one for you. oh, you're a messy one. cool, right? so cool. anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. hot dogs! fresh, warm hot dogs! before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com.

is it possible to count on my internet fund like my customersives, riskscount on me?xpenses it is with comcast business. keeping you up and running with our 99.9% network reliability. and security that helps outsmart threats to your data. moaire dida twoo? - your data, too. there's even round-the-clock customer support. so you can be there for your customers. with comcast business, reliability isn't just possible. it's happening. get started for $49 a month. plus, ask how to get up to a $800 prepaid card with a qualifying internet package. don't wait, call and switch today! welcome back to "fast money. china's revving up its auto exports with chinese companies gaining popularity around the globe. sales are up in europe, mexico, and south america, but what is making companies like byd and gwm so appealing overseas?

phil lebeau is in chile to take a look under the hood. hi, phil >> reporter: hey, melissa. i'm going to show you a couple of charts here, which speaks to what we're seeing around the world when it comes to chinese automakers first of all, auto exports have exploded up 62% last year, topping 5 million vehicles number one in the world, moving past japan and by the way, 71% of the vehicles exported are internal combustion engine vehicles 29% electric vehicles. why the change by china? a pivot, due to the slowing patient in that country. >> changes that chinese cars up until this point have been happy to stay at home, make growth and profits in their own market. but the market has slowed. price wars so, all chinese makers are gearing up at the same time, saying, in search of, we need to find new markets joe bally, and they are going everywhere.

>> reporter: one of those markets is chile in fact, if you drive around chile, you'll see a lot of chinese autos. we went to an auto mall, a mall with all these different brands, not just chinese, but you saw the american brands there, gm and chevy, toyota, hhyundai, kia there. the price difference is the big difference there they are about 20% lower than comparable models. what does that mean? here's a good example. great wall's haval jolion, a crossover utility vehicle, over $18,000. a comparable, a base model toyota corolla cross, $6,000 more and when we talked with customers, almost all of them said the same thing. i like the fit and finish, i like the quality, and i like the price. >> translator: because of the performance and it's very cheap in comparison to other brands, so you that's why i prefer this chinese brand. >> reporter: so, you would buy chinese again? >> translator: yes, yes, i

definitely prefer a chinese car. i traveled 50 kilometers, and it's very safe >> translator: i've had a very good experience with chinese cars in fact, spare parts you can find anywhere. >> reporter: take a look at byd versus general motors versus toyota and what you notice here is toyota, obviously, because of what's happened with hybrid sales, not only in the u.s., but around the world, has moved ahead substantially. the interesting thing, when you look at south america, is that it's not just here it's happening in israel, it's happening in australia happening in a lot of different markets around the world individually, chile is not a big market, but you add the smaller markets together, melissa, and what you have are growing sales for chinese vehicles, because of the price advantage and because they need to export them they need to keep those assembly lines running in china, and as a result, they are finding markets like chile, where buyers are willing to say, yeah, i'll buy

it >> is the tariff situation more favorable with the united states, phil >> reporter: yes, absolutely there's no manufacturer here there's no tariff here anybody can ship in here, it's just a matter of what price can you sell at? and as you we showed you, china has a definite cost advantage. >> and then, there is a differentiation between strict evs and hybrid evs in terms of popularity, as we're seeing play out in the united states in terms of growth? >> reporter: it's a very small market when it comes to pure electric vehicles here in chile. it's just beginning. we went and talked with the folks who run byd, they just came in here last year tesla's opened up its first south american store here. so, it's just beginning. most of the vehicles that are sold here are internal combustion engine vehicles >> got it. phil, thank you. phil lebeau joining us from santiago all right, so -- not good news for gm or ford here. >> not good news worse news for tesla, because if you think about where byd is

going after them, they're going after them, i think, certainly in the hybrids, and some ev, obviously the growth in byd is so extraordinary it's across internal combustion, hybrid, and ev but as we get into the trade barriers that elon musk is asking that we impose upon china, those keep byd out of the u.s. leftover from the trump era, byd only sells buses in the u.s. maybe that will soon be outlawed, too, but -- >> yeah, it's not just elon musk asking for that. the biden administration is saying, have to look at this >> there's no question and china's built twice as much capacity as the market needs in terms of demand, and they can do it cheap they're going to flood the market sounds really bad for tesla, who has loved china as a market. >> quickly, and this is second derivative stuff, thank you, guy. if they view chile as an opportunity, then look at ech, which has not bounced now over -- >> oh, em play >> em play heavy industries, heavy financials but if people view that as an

opportunity area, by definition, they have to see growth there. so, maybe ech is the play. >> nice pull >> that's like third derivative. coming up, afterhours action to bring you hp per surprise, dell, soundhound all moving. the details on the quarters ahead. plus, tech titan technicals. the chart master will tell us where apple is headed next as the stock clings to a key level. "fast money" is back in two.

hey you, with the small business... ...whoa... you've got all kinds of bright ideas, that your customers need to know about. constant contact makes it easy. with everything from managing your social posts, and events, to email and sms marketing. constant contact delivers all the tools you need

to help your business grow. get started today at constantcontact.com constant contact. helping the small stand tall.

welcome back to "fast money. stocks jumping to close out february, on leap day. the s&p and nasdaq closing on record highs some earnings in action. hp dropping after a revenue miss shares of dell technologies surging on the top and bottom line beat. the company also increasing its dividend by 20%. and soundhound, which has seen a massive surge recently after investment from nvidia, shares are lower in extended hours after top and bottom line miss. well, since all-time high last december, apple has been underperforming the s&p 500 by more than 15%. could the so-called benchmark

stock be signaling a downturn? let's go to the chart master hi, carter >> hi there. well, you know, there's an expression in the southern united states, this dog won't hunt and that's the circumstance with apple. apple closed out 2021 at essentially $180 a share and here we are in the first quarter of 2024 and it's $180 a share. while that's not so bad, it's all aboutal alpha you've had such shocking poor performance relative to the tech sector, you have to wonder, why be overweight? we first have a ratio chart. one thing divided by another, in this case, apple divided by the s&p 500 technology sector, which gives you a relative strength line and apple's relative performance to the sector, as you can see, peaked in the third quarter of 2022 and since then, it's just been

in free fall i don't see what changes that. in terms of the chart itself, second of two, if we look at apple, we're just starting to break trend here, we have something of a double top. i think $160 is probably where it belongs >> $160 is where it belongs, and if it breaks through that, what's the next support level? >> well, i guess lower i don't know >> all right carter, thank you. carter braxton worth of worth charting dan, we've highlighted apple several times as the underperformer here in the mag seven. >> this goes back to what tim was talking about multiple expansion last year. here's a stock that has underperformed the s&p 500, trades at a massive premium to the s&p 500 at 27 times, expected to grow earnings, call it mid to high single diments this year and low single digits, 2% revenue growth. it's just like -- you tell me a good reason why they've been left out there is no generative a.i. play here yet and so people aren't actually legging into it for that right

now. you know what i mean so, to me, it seems like a stuck story, and there's obviously, it was going around today a little bit about iphone 15 not doing particularly well in china heavy discounting. that's an important market, 20% of revenues. there's no compelling reason to buy it right now certainly not on valuation >> yeah, maybe june, though. maybe the developers conference there have -- google went ahead with its offering and look -- >> i think apple is going to be very careful >> more careful, right >> yeah, i mean -- i don't know, this is my smallest position in the mag seven by a lot i only keep it around to focus on it, but all the reasons that you said, i mean, we've seen, you know, you can tell a very different story for nvidia, even alphabet and meat ta, a very different story there, and a valuation that's much more attractive i'm with dan on this one >> wow >> no -- >> last night, i caught the show, i watch when i'm not on. i'm in the only dan seat last night. i think because sue suki was

here, you were ripping me a new one. >> no. dan got a nickname given to him by guy >> yeah. >> handsome dan. >> as opposed to dan -- >> as opposed to this dan. i see what's going on here that's fine. whatever >> coming up, sizing up the competition. the weight loss drug wars are heating up, and so are the compounded copycats. how unapproved versions of the drugs are impacting those taking them nbc news medical contributor dr. kavita patel will join us next to lay out the risks and everything surrounding obesity drug development "fast money" is back in two. u! your business bank account with quickbooks money now earns 5% apy. (♪♪) that's how you business differently. intuit quickbooks.

...for kung fu panda 4. that's how you business differently. jack black is back. ah, you're adorable. yah, whah!

instead of a preloaded pen, compounded semaglutide typically comes in a vial, and patients like kelly load the sir rings themselves >> i was just told to sanitize the top of it each time and use a sterile sir ring this is where i have to psych myself up -- and we're in. >>er with sbe viewed a young woman who uses compounded semaglutide from a tele health service and she was told to keep the vial in her fridge and wipe the top off of the vial.

is that safe >> one of the challenges is, in most cases, they don't have preservatives in them and when you are going in and out of a vial with a needle, you have the potential to introduce bacteria into that vial that could be something that could introduce a lot of risk in that setting asking the patient to wipe it down with an alcohol swab is the bare minimum you can do. >> but concerns about these custom compounds go beyond bacteria semaglutide is manufactured exclusively by novo nordisk. so, where are compounding pharmacies getting these active ingredients? >> the big issues with obtaining compounded semaglutide, the glp-1ing is, is -- i don't knor these molecules are coming from. i don't know how pure they are what else is being added i have more questions right now than i have answers. >> that was a look at my

documentary "big shot: the ozempic revenue," which premieres tonight on cnbc. as a business of fda-approved weight loss drugs booms, so does the business of copying them you don't know what you're getting in these compounded versions let's bring in dr. kavita patel, a medical contributor, a former white house policy director. great to have you with us. the problem has arisen because there are shortages, because the brand name drugs are so expensive. there's questions about access in terms of insurance, and whether or not insurance companies will actually cover these drugs. when do you anticipate these factors to sort of abate >> well, i think it's going to be awhile, because look, there's really no reason to have the reason manufacturers, in this case, novo, lilly, and remember, there are others that are in the pipeline, some 15 trials going on right now that use some form of semaglutide or other kind of

glp-1s, so, there's no reason, until we have enough sufficient supply, to kind of think about curbing the cost in such a manner, melissa, that you can see this put on as a benefit use. i do think we're all looking for whether medicare adds this to their panel of drugs that they cover, because once medicare goes this way, so potentially would medicaid, and many of the commercial insurers. until then, it's an incredibly high barrier that's not stopping themarket from responding, as they should, to something that does seem like a once in a lifetime kind of generation-changing drug, which this class represents. >> you mentioned a lot of the competitors and there are 70 different compounds being examined right now and we were just talking about viking therapeutics the other day, which tripled in value based on a readout of results that showed efficacy and adverse events similar to the drugs that are current wli on the market. i'm wonder from your standpoint, what are the drugs that you think will actually break through, which will be the targets of a big pharma company to scoop up and acquire?

i know there are a lot of companies developing a combination weight loss pill plus a compound which will actually help you gain muscle mass, which is one of the biggest complaints on these medications. >> yeah, look, when you lose fat, or when you lose all the pounds that have been kind of documented in these studies, you are losing muscle mass, in some cases, bone and ligament mass, as well. so, as you age, just on a standard aging process, you lose half a pound of that mass each year, and if you compound that with losing an accelerated amount, that adds up to an incredibly, what we call a sarcopina, that could in the long run be destructive. so, you mentioned viking, lilly has acquired a company that has a drug that helps to stop this muscle mass, so, we're looking at these joint trials, not shocking, much like with what we do with other diabetic drugs, where we use several of them in

conjunction with each other, because one will protect the kidneys, while the other protects your glucose levels i think that's exactly what we're going to see unfold. that, however, kind of compounds, no pun intended, the cost problem so, i do think that some of these smaller kind of target molecule companies need to be attached, unfortunately, or fortunately for the stock holders, they need to be attached to a strategic pharma with savvy i mean, what lilly is doing is making a technology play they are creating a platform and trying to see which drug in combination for which indications. remember, we've talked about about mental health indications, some of the other things that are being studied, coronary artery disease if you make the analogy to any sort of software development, they are trying to do various combinations that's the kind ofs pa partner going to take. that's not stopping the valuation on the smaller companies, which, of course, then speaks to the price that they might put this at in a commercial setting >> dr. patel, it's tim, thank you for joining us

as you talk about this dynamic with lilly and the platform, it's interesting, because it's what we talk about even with nvidia and their domination in a.i., not your space, but part of what they're doing is building a platform around their chips, but back to viking, who sounds like you think can't do it alone, because they just -- they can't compete because they can't do it without significant r and d. but your note says someone xavi might come in and buy them sounds like you think they should be taken out. sounds like you think, based upon your oversight of the sector, you think pfizer should go in there and buy them >> i do, yes i think you've got very savvy pharma partners like pfizer, this could be a nice setup for gsk. look at the larger kind of pharma that have compounds potentially in the pipeline, but this gives them kind of an immediate jump up into the -- into the space of glp-1s and allows for them to develop what they do very well. and the analogy to nvidia is entirely apt, because that's exactly what we're talking about. and when you add into that, tim,

kind of drug discovery in general, there aren't that many results to take if you are a large pharma that you don't want to take as much of a bet on. why not take that with a viking? which i think is an incredible stock -- this is an incredible time, where they are raising the financing and i think it will be very competitive, it will be interesting to see who comes out, not just from the financing, but who might be an acquirer >> dr. patel, always a pleasure to see you >> thank you >> nbc news medical contributor. >> now m&a banker. >> i know. i love that. >> very informed doctor. viking was down a lot today after a crazy run -- >> and the offering details. >> why would you sell stock at 85 if you were going to sell -- now, maybe you do it because we need to show that we can absolutely make it to, you know, past phase three on our own, but -- i would doubt they were in talks right now >> if -- >> selling at 85 that's a good point, as well we should also not assume that the larger, you know, nvo, novo

and lilly are standing still dr. patel mentioned versanis, a subsidiary of lilly, which is studying the come pounded version, weight loss drug plus muscle development drug to combat muscle loss, but also, novo just today is talking about a vaccine approach to these injections so, developing a molecule where you could just inject yearly and how that would change the game potentially, and open the door -- >> for the building back muscle mass or the whole thing? >> for the weight loss drug. >> wow >> another version of semaglutide, which would be a different molecule, which would allow a yearly injection >> you know what i want to go watch that documentary. i mean, this is -- >> what time is it on? >> well, that's going to be the tease into the commercial. so, you -- >> i'm sorry you jumped it. >> but there it is there's your answer. >> once again. you know, by the way, you had such an amazing question -- your line of questioning, you should have just dropped the mike right

there. >> and what a great answer she had, though. what a great answer. >> going in the right direction. >> i loved it. she was fantastic. "the big shot" tonight, 10:00 p.m. eastern and pacific time right here on cnbc. coming up, a chemical conundrum. not one, not two, but three top execs on leave we'll dive into the stock's worst day ever. plus, smoking hot earnings we go live at the truleve meeting. "fast money" is back in two. it's for babies, but for adults. it should be called wiffle tennis. pickle! yeah, aw! whoo! ♪♪ these guys are intense. we got nothing to worry about. with e*trade from morgan stanley, we're ready for whatever gets served up. dude, you gotta work on your trash talk. i'd rather work on saving for retirement.

or college, since you like to get schooled. that's a pretty good burn, right? got him. good game. thanks for coming to our clinic, first one's free.

rylee! from rylee's realty! hi! this listing sounds incredible. let's check it out. says here it gets plenty of light. and this must be the ocean view? of aruba? huh. this listing is misleading. well, when at&t says we give businesses get our best deal, on the iphone 15 pro made with titanium. we mean it. amazing. all my agents want it. says here...“inviting pool”. come on over! too inviting. only at&t gives businesses our best deals on any iphone. get iphone 15 pro on us. (♪♪) personalized financial advice from ameriprise can do more than help you reach your goals.

i can make this work. it can help you reach them with confidence. no wonder more than 9 out of 10 of our clients are likely to recommend us. ameriprise financial. advice worth talking about. welcome back to "fast money" chemours shares falling 31%, its worst day. the company launches an internal investigation into material weaknesses in its financial reporting. shares were briefly halted for volatility earlier today, faring more than 47% at one point so, did recoup some of those losses this is -- i mean , when the ceo leaves, that's forable but three guys, even worse >> it's a no touch you can't possibly get your arms around the problem you can't know how bad it is no touch >> we see more and more, again, it goes back to what -- i

think -- again, for the last time, i think corporate america got really lazy in a zero interest rate environment. and i think stories like this are sort of the aftermath of what we saw for a decade or so. coming up, cannabis state of mind kim rivers is joining us next. she'll react to the company's latest quarter and what the company is watching on the marijuana regulation front more "fast money" in two nice to meet ya. my name is david. i've been a pharmacist for 44 years mainly because i just love helping people. as i got older, it was just a natural part of aging, i felt that my memory was beginning to decline and that's when i started looking for something that would help. when i first started taking prevagen, i noticed my memory was so much better. just stuff seemed to come together and fit like a jigsaw puzzle in my mind. prevagen. at stores everywhere without a prescription.

you founded your kayak company because you love the ocean- not spreadsheets. 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 were you worried the wedding would be too much? nahhhh... (inner monologue) another destination wedding?? we just got back from her sister's in napa. who gets married in napa? my daughter. who gets married someplace more expensive? my other daughter. cancun! jamaica!! why can't they use my backyard!! with empower, we get all of our financial questions answered. so we don't have to worry. can we get out of here? i thought you'd never ask. join 18 million americans and take control of your financial future with a real time dashboard and real life conversations. empower. what's next.

you can make money the hard way as a bullfighter with a real time dashboard and real life conversations. or a human cannonball... or save money the easy way, with xfinity mobile. existing customers can get a free line of our most popular unlimited plan for a year! not only will you save hundreds but you'll also be joining millions who have connected to america's most reliable 5g network. sure is a lot safer than becoming a stuntman for money. get a free line of unlimited intro for a year when you buy one unlimited line. visit xfinitymobile.com today to learn more.

welcome back to "fast money. shares of true leave seeing a late day selloff and ending the day in the red despite a beat. the marijuana operator seeing signs of a strong consumer the stock is up 85% this year. for me, let's bring in ceo kim rivers kim, great to see you. >> great to see you, as well >> first of all, i want to talk about what you saw in the quarter, and i thought it was interesting you saw spending accelerate going into the end of the year, you saw baskets go higher are you seeing that trend continue do you think it will continue? >> yeah, i mean, we definitely saw some strength through holiday, which was, you know, interesting, and to your point, positive i think it's a little too early to call a trend. we are going to be really watching march for us to see how consumers respond tody asian dl tax refund dollars they may be getting into their wallets but we did see a strong consumer trend in the back part of the year, specifically in december with consumers responding more favorably towards commercial activity, basket-building style

promotions, and yeah, we're hoping that momentum will continue through 2024. >> you also cited in your earnings call express pickup, which i thought was really interesting. >> yeah. >> and how popular do you think this will be in terms of a format, i mean, it requires less manpower, less labor costs, and a lot more convenient, i would think. >> yeah, so, as, again, folks and consumers, particularly in the core states become more familiar with our portfolio and our menu of products, we think express pickup is a natural evolution of that consumer behavior we launched our first home store in florida in q-4 and had outstanding results, outperformed our metrics to your point, it's a more efficient footprint, smaller footprint. less expensive build for us. and really a great return. so, we certainly are going to continue to flux into that model, particularly in our in-fill stores and maybe markets that wouldn't support a full service store, but can support an express-type model.

>> disclosure, you are a big part of my cannabis etf. but i have to go straight to an announcement that folks in the cannabis industry thought that was extraordinary, you announced $113 million in tax refunds. ahead of a dynamic that those of us in the industry are certainly expected a rescheduling, which would remove a punitive tax dynamic to the industry. it sounds like you are ahead of that i know there are elements of this you can't talk about, how much of this is accounting related? i think you play it conservative in terms of the taxes you do pay. but i thought this was game-changing news >> yeah, so, you know, we took a very specific tax position we announced in q-3. where we submitted to the irs refund claims for the years '19, '20, and '21.

we received checks from the irs, $113 million we did receive a rejection letter for $1.1 million. we do believe we've got a strong case that's challenging the amrikability of 280-e as it relates to us, for a variety of reasons. we believe this could end up in litigation, so, we are being careful in terms of what we publicly announce in terps of strategic positioning, but it was certainly encouraging to receive those checks and, you know, and looking forward to complete resolution on that, but to your point, you know, in the backdrop, we, of course, have the -- the bigger conversation around rescheduling, moving cannabis from one to three, which we certainly also believe is coming, and just to put it in perspective for folks for her. 280-e, which is a specific tax burden that cannabis companies pay, effectively cost us about $350 million in the last three years, so, it's significant dollars that are on the table here, and again, we are

aggressively fighting its amrikability >> kim, great to speak with you at the end of the quarter. kim rivers >> thank you so much >> up next, final trades ata points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay.

time for the final trade let's go around the horn tim? >> this is not particularly a view on m&a, but tim's pfizer. evaluation makes sense to me >> it's your -- >> it's mine, too. >> i'll own it >> you know what, i don't know if i got my final trade in fast enough it was either -- >> no, it's there. >> don't buy nycb. going to be down tomorrow. this is ugly going to get worse >> dan >> shoutout to probably the biggest "fast money" fan out there, my dad. it's his birthday. >> all right

>> thank you and snap i'd buy that with a ten stop to the downside >> guy >> 10:00 tonight, eastern time >> "big shot." >> and pacific time. check it out "big shot. clf, melms >> thank you for watching "fast."shot. don't go anywhere. "mad money" with jim cramer starts right here. 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. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you a little money my job is not just to entertain but to teach so call me at 1-800-743-cnbc or tweet me @jimcramer this was one of those days where unexpectedly it all came together for the bulls