the delivery of digital goods. adobe does a big part of that in designing and then tracking the delivery through experience cloud and marketing cloud. that kind of information through e-commerce and beyond. we'll get a good check on overtime and how both of those things are shaping up. that will do it for yoet overtime." "fast money" begins live. >> live from the nasdaq marketsite from the heart of times square, it's "fast money." magic for disney, the shares of the entertainment company about to lock in, with iger in a nasty battle for board seat. next, a boeing bounce, shares of the aerospace giant rising 4% after announcing that dave calhoun will leave the company by the end of the year will new leadership get the company back on track? massive move for micron as it blocks the seventh day of gains and bitcoin breaks higher and

takes the rest of the crypto space with it and reddit, we'll dive into the pits i'm melissa lee coming to you from the nasdaq. on the desk, tim seymour, dan nathan and guy adami we start with disney's proxy battle royale. just a week away, nelson peltz trying to find management to secure seats on disney's board just today it said it was withholding its vote from bob iger, a move that contrasts the recommendations and peltz's public statement and since he reignited his proxy battle for the kingdom in october, shares soared nearly 44%. barclays raising the price target to $135 that's on shares is up 3% to the highest close since august 2022. it is now nearly a dollar above the average analyst price target on the street. barclays, is right does disney shares go higher

from here? tim, what do you think shareholder tim, what do you think? >> i think there is a valuation argument that it should go higher and there's an ability to play the sum of the parts. the entire tailwinds and i know that sounds crazy and it's not just netflix you certainly heard disney and their ability to control costs and the profitability of the business is still a very big deal and a big driver for the stock, but i think if you look at the core drivers for the company and how the investor community is coming about, i would say this is the story of the broader strength across the real economy stocks, and so i do think that agitation at the top isn't a bad thing. the fact of the matter is there has been a need to push outside influence at disney. i do think that there is a -- an environment where there's reliance on the studio that used to be the heyday and that was a good thing and right now it's a valuation story and interesting to see these same analysts that were probably 20% lower on the

target prices and don't really have a whole lot to raise it for other than thea agitation. >> and this analyst at barclays is making the case that earnings stability has improved greatly because of cost-cutting. so you have that, plus the potential kicker and the potential upside to some of the proxy battle efficiencies. >> obviously, bob, robert iger has a stake in the duo he doesn't want the second iteration being a failure. the stock was up 50% from the lows we saw in october and we split the difference and valuation, 2020 times next year's number you have a stock you canal reed may you don't cost-cut your way through greatness, but certainly

to one that can rally in this environment. when me filled in for iger and i think timed a good point many large media konl conglomerate and it was not the right bet at the right time and they thought about defending their boats like netflix in particular were coming in. when you think about how the business has operated especially with the cost-cuts over the last coupleful years and including just the nature of the business and now that you've had the proxy going for a while and the change of management, i can't see how it ends up being a bad thing, in my personal opinion, and then you look at how the earnings are stabilizing and how they're growing double digits and the valuation that you're talking about 22 times net it seems that you'll come out okay, either way >> it's a win-win. >> i really do think so. you know what i mean

it seems they have things under control and some of the things that people are most worried about. >> or is a win-win already reflected in the stock >> i think its had quite a run, 45%, and i think it's 25% year to date and it's trading in the form of eps, and i think they're farely reflection, and i'm not sure that this proxy battle is an accretive situation you kabt get blackwell on the same page in terms of how to seek out the seats it gives a signal that they're going to do something different and the cost-cutting i think it's right sizing the ship and what it takes? i'm not sure >> what might take that ship to

new heights is espn. i think there's optionality around that and we still don't know what's going on with jd i will say dtc is an expensive endeavor if you think about what it will cost and there's only so much in the way of a tan with this, but i do think espn has been underpriced in terms of the sum of the parts i do think there's a case, everyone knows what's happened to linear tv and i do think the power of the brand is enormous i also think people are underestimating and it's not pi in the sky case on fiscal '24 on streaming. if you get there, i say look out because it's an operating income in terms of 20, 25% is realistic. >> joining us on set is julia bo boorstin [ clapping ] >> what do you make of the

battle and where it stands right now? it seems very heated and very contentious. >> very contentious, but what we've been hearing over the last few weeks is more of the same. there isn't going to be more major news until the shareholder meeting. we heard from so many different people with bob iger and just mention the big name you have george lucas and lorraine powell jobs and both of which represent big m & a deals and who are now saying we are now voting in support of iger. you have michael eisner who was his predecessor, and his board is the right person to oversee it jamie dimon weighed in in support from him and now that we heard support from those names and it's what peltz is saying and will continue to his vote. which is in contract to what they said he was iffing to do.

>> he wants to ho the fact that the man current -- what -- he had the acceleration of the key growth points and also showed what he'd been working to implement was working and in the interview where he sat down with me, you saw the stock rise over the course of the interview with the espn spin-off and the joint venture or turning around the studio they just announceded a new head of the studio or the fact that streaming will perhaps be profitable earlier than expected and that was the barclays note out today. >> say peltz prevails and iger stays in and pelt gets elected to the board along with his pick who is the former cfo, correct is it bob iger's plan to move forward and it's finally seeing what bob iger has laid out and seeing it come to fruition,

basically? >> no matter who is elected to the board, we will see all of the investments that iger made last year come to fruition if you look at the parks, for instance, this takes years of investment they have three new cruise ship ships, as is the fact this they've been expanding the actual real estate of the parks. so if jay rio zulo is back because they were so clearly in conflict, but i don't have a crystal ball so i can't exactly predict what's going to happen next year or next week. >> how important is legacy he walked away first time he would have been in the hall of fame, no question. comes back and now people might start questioning things so first question is do you think he's happy he came back? second question is how important is legacy to getting this right? >> he needs to get this right. he said that repeatedly and he wants to get this right for the company, for his own legacy and

for all of the people who work for disney and disney shareholders and it's a multiple stake holder business. he talks about wanting to get the studio right and making sure they have more of the blockbuster hits which they had fewer of last year so i think he understands. >> the stakes are very high, but it's b it's been fascinating to watch the range and we've seen what this looks like? julia, maybe this puts you on the spot, but what part of peltz's agenda do you think is legit? it's easy to talk about someone that's an acts vift and he's there to agitate and this is what he does for a living and there are legitimate claims. >> no, a lot of things he's advocating for are things that iger is already doing. for instance, cost-cutting his big thing is cost-cutting, cost-cutting, cost-cutting and the other thing he's focused on is succession planning

in a lot of ways they're not really in opposition he made comments about the cultural connotations of the studio and this is where he doesn't have a lot of expertise and iger has made changes in the studio so i don't know how much he would be helpful there, but frankly, the board members don't really weigh in on the studio and that's not something that a board would do in terms of logistics of films and his overwhelming focus on suckic session planning is top of mean for people that work for him, as well >> julia, thank you for coming by. >> good to have her in person. >> what do you think >> that board is like the, you know, mt. rushmore of ceos if you think about it, they have mary barra, mark parker from nike and saffir katz from oracle and james gorman when you think about board seats they're already doing the cost-cutting and i think about it like this, this company is

being run by one of the most successful ceos in the last hundred years. the fortune 100 companies and i suspect staking his reputation and legacy on this with that sort of board that's in effect, i think they'll get it right >> the street is $66, the range is 66 to 142, so what will wind up happening, i think. i understand what he's saying and he'll be right on. if they play catch-up on this name like what you saw today, i think that will get you to the 135 price target. >> let's get to the day's other big storing, boeing rising on its highs of the day on news that dave calhoun will step down at the end of this year. it gave back much of the gain and still closed in the green. former qualcomm ceo steve mollenkopf will lead the ceo search and coo stephanie pope will now serve as commercial airplane ceo dave calhoun office cnbc this morning speaking about his vision for his successor

>> i want someone who knows how to handle a big, long, long cycle business like ours it's not just the production of the airplane it's the development of the next airplane our next leader is going to develop and call out the next airplane for the boeing company. it will be a $50 billion investment and that will happen on the next leader's watch >> will this change be what the company needs to get back on track? the stock reaction was interesting. it wasn't as robust as one might have thought it would be. >> we talked about it last week and he didn't want to get into great detail i told you friday or thursday what would happen to the stock and it would be north of $200 and we gave some of it back and i still think the stock is higher in earnings and it was a necessary step and msomewhat

mitigated that he's leaving at the end of the year and it will be the low for a while. >> the shake-up was needed and we were on the show a couple of weeks ago talking about essentially when will the news wire get positive about the stock? it was when the news wire stops. i wouldn't be surprised if 737 was just banished from the dict dictionary going forward there was not a clear succession plan and we just talked about it from disney and once we have a firm name in terms of what that handoff is going to look like, i think what most people at this point view as an inevitable change. >> i wonder if it will be an outsider and one wonders if boeing is looking at an outsider for the job. >> yes, especially when you consider calhoun was an outsider and he was in during a difficult time he was not necessarily really in that -- absolutely was not in

that chair during those bad max 8 crashes and an awful time for the company and thenthey went into covid and it was really an incredibly tumultuous period for mr. calhoun who was clearly from the inside that was the whole point and why he was supposed to be there and i get back to also, this is a ceo announcement and it's a critical company and you can make an argument that it's a strategic company in the country and it will continue to be this is a company that despite all of this will still print 10 billion in cash flow through 2025 we lose sight of the fact that boeing is still a world-class company that everything they do is under the microscope, as it should be and this is a company i want to own, and i do. >> coming up, red-hot reddit sooshs to third day of trading and the sub -and how china can

impact the tech names. the details when "fast money" returns. >> this is "fast money" with melissa lee right ren bche ocn at ameriprise financial our advice is personalized based on your goals, whatever they may be. all that planning has paid off. looks like you can make this work. we can make this work. and the feeling of confidence that comes from our advice... i can make this work. that seems to be universal. i can make this work. i can make this work. no wonder more than 9 out of 10 clients are likely to recommend us. because advice worth listening to is advice worth talking about. ameriprise financial. rylee! from rylee's realty! hi! this listing sounds incredible. let's check it out. says here it gets plenty of light.

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her uncle's unhappy. 5% i'm sensing anw! underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for.

>> welcome back to "fast money," reddit shares has the first full week as the company-traded stock and there were eye-popping numbers. let's get straight to mike khouw. >> that would have placed it 30th in the russell 1,000. it was in the russell 1000 above j.p. morgan and right now they're pricing in pretty violent moves and if you look at the april straddle and the stock can move about 35% higher or lower over the course of the last three weeks and considering how much it moved today that seems very fairly priced to me and the busiest contract were the april 75 calls and those were 25% out of the money and 7,000 traded trior to those calls and betting that today's rally could continue >> wow do you interpret this, mike, that this is retail action >> well, there is a lot of retail action and 81,000

contracts given the fact that the stock traded 22 million, oftentimes when you see these volatile stocks, you see that the action volume will exceed the equity volume and some people weren't aware that they were able to trade these things yet and over time usually over the last couple of weeks you'll have volatility and it will start to fall off steadily as people find the level for the stock and the premiums will also come in, a bit >> mike, thanks, as always mike khouw meantime, the original stock, gamestop, up 15% today and check out digital world acquisition corp soaring 25% and it will compete with donald trump's truth social tomorrow under the parti particularer ticker djt. what do you make for the action overall in these mean, riskier

names and the action reddit since the debut. >> if you look at what's going on in the semiconductor space, there's been a narrowing and we've seen that over the last, let's call it week and you still have smci and nvidia pushing higher so i think the idea that there's moresupply coming on the market, new stories that people can pick through that sort of thing and look at astera labs and look at bitcoin trading or some of the stocks related to bitcoin. it just seems like there is demand for scarcity which seems like a great time to bring your private company to market if you are considering such a thing when you consider the s&p and the nasdaq at an all-time high. >> the bitcoin is over 70,000. there's definitely correlation there and the frenzy that's going on with some of the same investor group what was the news in gamestop? >> they're going to have earnings tomorrow. >> right, but -- >> so here's the point look, i don't follow gamestop, but i don't want to follow gamestop i'm not sure what goes on there.

so there are a lot of stocks in this that are rallying with all of the risk and the markets are at all-time highs. >> think reddit is a posterchild for the retail trading cohort that is sophisticated, perhaps a big angry or anti, as they say and i wouldn't be surprised if i see the stock trade with quite a bit of volatility and they expected that. we shouldn't be surprised seeing the options activity being that that is the cohort of retail investors that have really grasped on to squeezing companies through optionality and down squeezes. >> by the way, reddit shares are up 5% after hour there's a lot more "fast money" to come, here's what's coming up next. >> cheeven a the country looks to push out american manufacturers and what it could mean for the chip space next bulking up while slimming down the weight loss wars rage on and one company is trying to combat one major side effect from the

big players. how one pharma name is tipping the scales with a new experimental drug. you're watching "fast money" live from the nasdaq marketsite in times square. in times square. we're back right after this.. oh, not the fries! where's the ball? -anybody see it? oh wait, there it is! -back into play and... aw no, it's in the water. wait a minute... are you kidding me? you got to be kidding me. rolling towards the cup, and it's in the hole! what an impossible shot brought to you by comcast business. ♪ ♪ next. next. stop. we got it? no. keep going. aga... [ sigh ] next. next. if you don't pick one... oh, you have time. am i keeping you from your job. next. i don't even know where i am anymore.

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welcome back to "fast money," stock kicking off the last quarter in the red, the s&p and the nasdaq falling 0.3 shares of ulta in need of some concealer, the beauty stock. >> nice. >> down nearly 11% in that time. some stocks hitting all-time highs, royal caribbean, colgate-palmolive, allstate, ingersoll-rand and cigna all trading and a number of energy names doing the same marathon petroleum, philips 66, valero, cons tlagsz and diamondback, which is on the 15-day winning streak tying the longest streak ever. we were just talking about these names. that's trading up to close to a prior all-time high and if technology ever gives it up in a meaningful way the money flows

will be into the energy sector and morgan stanley, mike wilson made comments about the energy sector, as well. so underloved and reasonable valuations and great balance sheets and the commodity is working for you, too >> free cash flow and as you said, if you do see the rotation, you'll be looking for somewhere that gives you a level of safety, and i think you're going to traditionally think about utilities and i don't know if you want to deal with rates here and deal with health care and there have been winners and losers there, if you have the weight loss, and you've probably gotten your lunch and it's hard to squeeze out the performance there even with the low beta so i'm with guy. i think it's an underowned segment and xle has made a tear and you are still starting to see m and a activity in the space and consolidation and fewer players were mentioned several times much more efficiently run companies. >> i say don't get too far away from technology here i understand it's not been a big

day, and i think the market broadening is where it is. this is all happening as rates are going higher and the dollar's going higher. i'm want sure that the there are has much higher movement in it i do think, it willy, that there are opportunity in the broadening of the market and the energy sector is a perfect example, but other parts of again, reaching out for risk look at biotech, ivb breaking out and on a day when the market was out flat to down small, it's easy to say what happened to mega-cap tech, but i don't think you get too far. >> coming up, a big year for semi stocks and could one spell trouble out for the chip trade and bulking up in the weight lossspace and one pharma company looking to combat muscle loss and the ceo will join us in just a few minutes to weigh in don't go anywhere. fast money is back in two. >> catch us any time on the go,

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money. intel and advanced micro under pressure today after the

financial times reported beijing introduced new guidelines to block u.s. chipmakers and government computers and servers. this as the ceo 'of apple, qualcomm and micron head to beijing to meet the premier. what does this all mean for the chip space i was kind of surprised they allowed u.s. chip at all into their servers, et cetera, but this is the case now so what do you make of it? >> all year long we will see this get ratcheted up, right we will obviously retaliate a little bit and we've been leading the charge a little bit and at some point you have to think about who is next in the crosshairs a little bit and go through the hoops that nvidia had to do into china and the like make no mistake about it the chinese are trying to do everything that they've actually had are chipmakers doing over there being built over there, you know, and taiwan semi fabs and they're trying to do it there locally and they'll play

the long game. if they can go back and forth and weaken our companies and i think they would do that as much as possible. >> i don't think, again, this is my view, and i've had the view and it hasn't been right and the market is not pricing any of the ratcheting up between the united states and china whose relations are probably the worst they've been since the early 1970s at some point there say tipping point to the extent that the market continues to go higher and which it will, by the way. >> what would the tipping point be, though i feel like it's been ratcheted up a notch, a notch, a notch and to mix metaphors and it drives you nuts >> i don't like it >> no horse in the hunt here >> which is why it's going up so slowly, but that's what's happening. >> it has been a slow simmer and not a slow burn. it's a case where if you listen to the charm offensive of the chinese commerce secretary over the last couple of days there

are other sectors that are engaged and you've heard the micron ceo say hey, look, we're planning on big things in china. every side is doing what they need to do and the fact that they're selling intel on this, and for all of the pain they're having in china, i think they'r getting inflated and i am long intel and stakes have been raised >> one analyst believes china is not essential and david riedel got back from taiwan just a few days ago why do you think is it just jumping to conclusions is that why we have a knee-jerk reaction to the name, david? >> clearly china is for intel chips and 30% of their sales and amd, 15% and not a lot of that is ending up in the government sector and this will be a slow rollout on having the government computers only, so i don't see them having a big impact >> can we jump to the conclusion, though, that this is just the beginning because maybe

that's what the markets are thinking they're not thinking about just the one step and what if we went further and what if we ban these chips inside any of the computers? >> it's certainly not the beginning because we've been banin banning what way and other chips from china since 2019 and it was promulgated in the end of december and this is shining a light that's been in place for a couple of months so i think you are probably going to get incremental changes as they ratchet up this concern. the current administration has been very firm on trying to prevent chips from china and to encourage from here at home and i think that will continue >> do you think investors here are adequately pricing in a potential china risk are we just sort of hoping that it just stays simmering and nothing really explosive actually happens should we start thinking about that especially as we head towards the elections? >> i don't in terms of a particular company impact or

something like that. i think there will be an incremental movement toward of nationalism from beijing and some sort of china bashing on the campaign trail the real risk in asia, as you heard me say before is the risk of the war in the china sea or the taiwan strait and that's the risk they think people are underpricing. >> david, it's tim because you know asia so well there are those trying to see dynamics, but how about the rest of asia and who gains by this? korea, and hynex for sure and samsung has a lot to gain with this and the chipmakers and there was a time everything was made in japan and there was an aspiration there and anything to talk about in. >> absolutely. i was as outside, just back from taiwan a lot of great activity on the ground there and there are a lot of other chipmakers and people who supply the industry so definitely keep an eye on taiwan keep an eye on somewhere like india who might benefit from the

transfer from people like foxconn, another taiwan-listed company on high precision to india. i think you're right north asia is the one set to benefit most from the ongoing struggles in the chip market you see china ask taiwan to benefit. >> i know it won't translate to a company-specific risk and you just got back from taiwan and you talked about taiwan semi and it doesn't have the multiple as other chips and there's some premium taken out of it just because of china risk. is that misguided, in your view, or there, in fact, a china risk? >> i think there is, in fact, a china risk it's impossible to predict when that will materialize and i think you're one election away or one fiery campaign speech away from having the tensions ratchet up other places where they can manufacture including here in the united states so i would keep an eye on that, but they

definitely have quite a lot of china risk. >> david, good to see you. thank you. >> david riedel of riedel research, guy in. >> and the stemware. >> related to that yeah >> again, i'll re-emphasize what david said he's on the ground there and he sees the risk and clearly the market doesn't see it and i will say this as well i think it was a year and a half or so ago jensen wang made the basis of the existential risk in terms of china and taiwan. that stock has been on a lower left, upper right, but if something were to manifest itself there nvidia probably stands to lose the most. >> there are two mitigating factors that have kept this situation self-contained and most importantly, i think it's been the ai boom i think the kind of excitement around that dynamic has been more of a focus and more of a tailwind than this might be as a headwind and as he mentioned and

the fact thatit's in the government sector and until it leaks into the private space or until the chinese regime is able to dictate that these sanctions are in the semi-state owned or however you want to describe it, i think it will be relatively self-contained and the excitement of ai more than offsets the 15% and 27% respective revenue allocation. >> mel's point about the premium that's been taken out of taiwan semi despite the fact how well it trades is near the 52-week all-time highs and if you think the customer concentration, and apple 23%, and qualcomm, and amd 7% or 8% this stock trades with an expected revenue growth of 24% expected eps growth at 18 times. that doesn't eeseem, when i loo at that name it tells you on valuation relative to its peers and that growth rate that there is, like, some worry about

something going on with taiwan semi, but not too much in some of these other names that don't seem to mind at all. >> coming up, the next weight loss revolution, a potential solution to the muscle mass loss associated with the popular drugses. we'll sit down with the ceo of biohaven with the company's entry to the space and the benefits that could offer patience. >> and we've celebrating women's herstory month >> when change makers can challenge the status quo they will match adversity so i think that change will have to be driven by a profound higher purpose to bring great benefits to human society. only then the change makers can motivate themselves and transcend these kind of adversity into motivations only at vanguard you're more than just an investor you're an owner. that means your priorities are ours too.

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the ring is biohaven the drug showed significant, with phase two trial projected to begin in the second quarter of this year for more we are joined by biohaven dr. v lad coric >> thanks for having me on, melissa. >> this is 20 to 50% of the weight loss is actually muscle mass your new drug is a miostaten inhibitor. can you, in layman's terms, describe how that works? >> sure. when we are trying to do is significant weight loss without losing muscle mass which is what you see in the gops. and the t alpha targets a miostaten and it regulates your muscle growth. by blocking myostaten will increase lean muscle mass and

increase resting metabolism and result in significant weight loss and do so without the reduction in muscle mass that you see with gops. >> so t alpha is already in testing for spinal pucmuscular dystrophy. what is the profile there? you will enter phase three, i believe, in the second half of this year. >> we start our trial in muscular diseases and there we have experience now with over 500 patients and thus far, a very clean safety profile and we are waiting for our top line data and sma in the second half of this year >> in terms of phase two, can you give us any idea of timing and lso, describe to us what you hope to achieve here since it sounds like you will be testing t alpha alone and also t alpha combined with the gop1 >> as you know, itthe gops have become the standard of care for obesity and t alpha can compete as monotherapy against the gops

and also, we think there's asi erjestic role that we play in conjunction with gops and our phase 2 trial is set to start in the second half of this year and we'll look at t alpha alone and t alpha compared to gops alone and we think that will give us the data we need to understand what's the best way to advance this asset >> how much pressure do you feel in terms of bgetting the testin done and eli lilly is working on a similar myostaten inhibitor which will be the answer to the drug that you're testing how fierce is this competition for this particular weight loss treatment that combats that muscle loss? >> we are no stranger taking on other big companies. as you recall, we had a migraine asset that we launched against abbvie and we became the number one prescribed migraine and you

have t alpha and the chin being thus far and when we're seeing there is we're seeing nice differentiation in some preliminary data and we're seeing increases in muscle mass. we are seeing decreases in fat and the fat translates to a positive phase three trial i think the data will take the pressure off and we'll have a nice differentiated product at the end of that phase three trial. >> as i mentioned, one of court components is a unit of eli lilly because it just bought it last year. so they'll have deep pockets do you have the cash to bring this to market when that time comes? >> yeah. the last quarterly filing we had $300 million in cash on hand and well funded at this point in our research, but what's important is we have the differentiation story even compared to that asset that you described that asset blocks the receptor very robustly and if you look at their data they have 40% rates of muscle spasm and diarrhea, and that's not what we are seeing in our trials

we don't see those type of side effects in our preliminary data. so if that holds true, i think we'll have access to capital and be able to continue to develop this program. >> $385.5 million in terms of cash and cash equivalence. congratulations. what do you think is the opportunity assuming everything goes favorably for the drug. what are you guys forecasting, if anything? >> i think the whole space people are thinking could be valued at 100 and th$150 billion i don't want to get ahead of ourselves and we need to see the phase three data in the second half of this year to know how we'll differentiate from the competitors and once we have that data i'll be able to give you a more accurate assessment in terms of market size. we all know obesity is a major health problem affecting 2 billion people worldwide and so once we have our data, i look forward to answering that question.

>> do you think t alpha, i know it's early, but could it replace or at least gain some significant part of the market share that novo and lilly have in terms of the gop? >> i give her the impressive, and you get themes like diabetes, hypertension and we've seen yet to come and we have an important drug here that can act synergistically or alone and once we have the data, until then it's hard to say how it will shake out compared to the competitors. >> fair enough i hope you come back and keep us posted appreciate your time >> vlad coric from biohaven. it's a big space, this is the holy grail for a lot of pharma companies. >> huge space. the stock is trading higher in

the after-market 4.5 billion market cap if you're saying this will be successful this is a seven to ten bagger from the current price it's trading at if it fails it goes right to $10 which is where it was prior to the news if you're willing to make that bet, this is where we built in, and we've heard that the niche elements of this industry is what is continuing to be developed and biohaven certainly has a role here and this is a company that's carved out in the hard to diagnose different parts of the market and this is kind of where they belong so i think they stay >> yeah. i think the fact that they can be used as an independent type of drug and also as you mentioned sin eynergistically w the other ones repositions where the target market would be if you have to be a substitute one for the other or take them concurrently and i suppose the final situation with the drug.

so i think that situation, as we continue to develop these drugs you're going to see the second order effects addressed which is the muscle loss associated with the weight loss, and so i think this is just a natural order of progression of things and i think it's a pretty compelling story. the proof will ultimately be in the pudding. it is still very much early innings. >> we're into phase three. >> yeah. >> bitcoin bouncing back and the bitcoin at 70k and the proxy earning a boost. that's next. more "fast money" in two 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?

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and round the clock partnership from comcast business. see why comcast business powers more small businesses than anyone else. get started for $49.99 a month plus ask how to get up to an $800 prepaid card. don't wait- call today. >> welcome back to "fast money." major crypto is jumping higher with bitcoin back over 70k ether and solana helping crypto proxies rise, as well. microstrategies soaring more than 20% to all-time highs grayscale rising 11% and coinbase at its highest close in more than two years. is this really -- is this just risk taking in the markets or is there something more to the bitcoin story? is this foreign ministerially believing that it has a place in the institutional investing? >> it's a little perverse on a day when the dollar rose and yields rose so that's part of it, but i think the fed lit the

market on fire last week i really do. i think they sent a signal ahead and bitcoin and not a ton and i wish it was a whole lot more, but i do think it's strangely ironic that gold is actually rallying because bitcoin is rallying and that's not what we are used to. >> dan >> the narrative has changed dramatically in the last five years. its almost validated a lot of the folks and you just mentioned rates where they were with the dollar rising here and bitcoin is supposed to work and i keep hearing that from a lot of smart investors who dismissed it and i heard jamie dimon who see this as a real risk asset or the macro risk asset that plays a way that they have traded other risk assets and this one is new and it's more interesting than gold >> tim, i think hit the nail on the head for other reasons, etf saw it and it's the green light that the fed gave risk assets like gold and bitcoin

i think i know what will happen to gold, and i still think gold is in the early innings, so buckle up, ppleoe. >> up next, final trades

>> final trade time. tim? >> i think china, whether you expect them to improve or not, i think the trading in the core stocks has seen a low. >> whether or not technology hold, i think there's a case to be made for owning energy on their own. >> xlu, utility. i'm not sure rates are doing much higher. they're facing a breakout.

>> baseball starts this week >> can't wait. >> we'll break it down on other shows. >> transocean that comes up rigged and it's in stealth rally mode >> thank you for watching "fast money "kwot. we'll see you tomorrow for more fast "mad 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. w welcome to cramerica i'm just trying to make you a little money my job is not just to entertain, wu educate call me or tweet me @jim cramer. amazon takes heat for hurting small businesses alphabet gets blasted fo