of the smh semiconductor etf, so, outsized moves in the semiconductor etf, outsized moves in nvidia, there goes the market, potentially. that does it for us here at "overtime. >> yeah. with a lot to look forward to this week. "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 tonight fred the dimon bottom with the dimon top. he says he's not a buyer should you dive in we'll debate that. target struggling before earnings, and now they are cutting prices is this move a good sign or a warning shot ahead of results? and later, shares of hills a hims and hers skyrocketing as they jump on the weight loss boom the company set to weigh in.

i'm melissa lee, coming to you live from studio b at the nasdaq we start off with a sharp reversal in shares of jpmorgan today. the big bank hitting an all-time early in the session, but taking a tumble midday. the drop coming off ceo jamie dimon said this at the company's investor day >> i think we're in a very good position to continue to invest in our future, and we're not going to buy back stock now. >> share buy-backs have been a big driver for stocks this year. look at the gains in alphabet and apple since the companies announced massive repurchase plans. but with stocks at all-time highs, the nasdaq posting a record close today the dow setting a new intraday before pulling back. have valuations gotten ahead of themselves if jamie dimon is not buying at these levels, the question is, should you why are you laughing already >> you read my mind. i'm thinking to myself, if he's not buying, why should you >> mouthing it but the reversal today is very

interesting. >> yeah. >> noa lot of volume, this reversal >> more than two times you are spot-on with that. we talk about price to tangible book, price to book, and he obviously watches the show from time to time, because jpmorgan almost got 2.35 times tangible book, almost two times book value, which is historically expensive. it's not an indictment of the bank it's a great bank, it's just very expensive when you hear it from him, you have to take notice. >> well, i -- i'm not sure i want to hear from jpmorgan they're buying their stock back now either, though it doesn't mean i go out and sell, because they're not buying and i think there's an importance difference. i think at times jpmorgan, jami dimon, he stepped in to buy his company when it has been, i think, absurdly cheap or at times when there's been places in the market to -- to inject confidence into the shares i think about where companies,

especially banks, are vilified for buying back shares for him to get out there right now and say, i'm buying back stocks, i don't think hi's that concerned about public backlash, but i think he thinks about the big picture and every word he says i don't know that this is a place he needs to say, i'm out there buying stock so, again, we're talking about anywhere from a 60% to a 90% move in some of the biggest money center banks in the world, not just jpmorgan. citi's moved 75% european banks, some of the biggest banks in the world have had some of the biggest moves. i don't think there's anything wrong with that. >> so, we're saying that -- or he is saying, you think, that it is fully valued, and i think -- so, if you had a fresh dollar to put to work in the markets today, would you be buying jpmorgan or say, you know what, maybe i'm not going to do that because jamie dimon is not >> probably not. listen, his strategist has a $4,200 price target on the s&p

500. while it may have outperformed, but it's trading at a premium. again, it was making in highs after that 6.5% gap after its earnings lower on april 12th down 10% from then all-time highs in early april killed in the gap on what, i don't know maybe some folksthought they were going to kind to adjust this net interest margin higher. they saved that for the investor day. i don't think it's a buy right here jamie's saying they're not buying it. the last thing they say, the stock took that leg lower, because of the recession comments he's dictated so many different things in the financial space over the last, call it almost two decades or so, but this is a bank that has $4 trillion in assets when you think about succession, it probably goes in the hands of -- i could see two ceobank. so, that's something that i

think we're going to spend a lot of time talking about. >> $4 trillion in assets and flush with capital this is a situation that you appreciate where this bank is coming from. jamie dimon has a long history of playing things on the per perhaps xo tantly so given the fact that we still get a read on inflation, we don't know where interest rates are going, wait someone at the helm of largest and the reason why it trades worth its premium valuation because it is perceived to be the best bank. they continue to invest in technology so, for me to get behind someone that is saying, listen, we want long-term investment that is going to bolster the stock over the long run, sure if you are trading it day-to-day, perhaps you're not jumping in today, but this gives me even more confidence, you know, why i want this to be a core position in my portfolio koonltd to invest going forward. >> and i think key to this discussion is the context where

this p this is being raised they said it's not going to be an even path it's going to be tailwinds that turn into headwinds, when the fed starts cutting rates, when e whenever what happens, it will be a headwinds when you see the headwinheadwin coming down the road, do you buy it at 1.8 times book >> no, but that's me i mean, it got more expensive on the way up, obviously, it was basically -- it was a multiple expansion thing, which is fine it works but historically, that's the deep end of the pool in terms of valuation. not only for that stock, but for banks in general with that said, i remember a friday in february of 2016, the market was getting -- and about 2:00 in the afternoon, jpmorgan announced that jamie dimon was buying jpmorgan stock, i think the price was $58. never saw that price again he put his money where his mouth is that's eight years ago this is not a reversal, i get

it, but there's some subtleties here that makes you think, he saw something then, he sees something now. if he was right then, it's probably smart to believe he's going to be right again. >> i guess we are right to think about every word he says, jamie dimon is often one rung below the fed when we think about every word he says but i don't own jpmorgan so they can buy back their stock this is the other part of the investor day they talked about a business that's got such diversify case, so many places where they are spreading that capital across, they announced $1.15 in a div, which is an excellent div. as a shareholder, i want to get paid i want to get a dividend so, i just look at it in the context of, they told us that credit card, or ncos were stabilizing, they told us that nims were better what could i have wanted to hear after a 70% move in the stock? i mean, it's, to me, it's what you're supposed to hear. if they say they're out there buying back shares right now, it tells me it's -- it tells me

there's not a lot of opportunity for their business >> and they are spending on technology, they raised their capex spend for the year part of that is going to be on, of course, a.i., as everybody else is spending on a.i. so, they are investing in the future but in terms of what this means for the markets, i mean, if we're thinking about a jpmorgan that trade lsz at 1.8, fair. it could be fully valued we're talking about markets that are at all-time highs, eff effectively, across the board. a utilities sector that is trading at 1.7, in terms of price to book. if you are thinking jpmorgan versus a utility, put it in a context of other valuations surrounding jpmorgan, and does it start looks expensive >> it's interesting you mentioned the generative a.i this is an interest that you could see taking tons of costs out. usi if one of the first use cases is customer service, and that ends up something that could allow them to replace thousands and thousands of workers with generative a.i. bots, then, you're going to see a rerating of some companies. if you see them make better

loans, the individuals or just across their institution -- this could go on and on, where maybe all the banks get rerated. it doesn't happen from here, as a bank like this is at all-time highs. it's going to take years to figure that out. a lot of people have made the argument that these are like utilities, they should trade at big discounts, and this is one story that could change. and could change very quickly for the banks. not right now. >> and staying out of the target of the fdic, s.e.c., any of the other regulatory bodies, i think, listen, i think that tech spin is being allocated for a reason we can talk about some of the chips or the other tech names, they were kind of laughed at for the allocation to capex, and it's paid off. at least in the short-term the last thing i'll say is, kind of to tim's point, i don't want to see a ceo of the premiere bank chasing short-term performance. >> it's really about

risk-reward. if you are going to get 3%, 4% kicker, versus being able to weather any potential storm that's coming down the pipe, i just think i'd prefer that cautious approach. >> i don't know what the -- you're playing your phone? >> what was that what's the ringtone? >> i think it was a concert. >> don't be sorry. it happens >> it usually happens to me. >> at least it's rated g let's move on. >> no, you can't pretend it doesn't happen i mean -- >> i was going to use my calculator, okay >> guy turning this into a natural tv moment. it's beautiful >> as you were saying. >> quickly we have to get julie in here i don't know the context, but i i would rather him say nothing at all than to go out of his way -- i don't know what the context was, but just something to think about >> is it the wrong time to go bullish on bank stocks the s&p 500 price target is more

than 10% below today's close julian, welcome. is it harder and harder to stick by that forecast as markets go higher and higher? >> well, by definition, it is. there's no question about it, but let's think about it, right? the first ten minutes of this conversation, we've been focused on valuation it is something that i would say in the course of years of me being with you all, we've talked about very, very little, but the point being, you know, whether it's the consideration of earnings estimates that in our view are far too high, even though we had a good earnings quarters, but that was up 5.5%, the market thinks the full year is 10.5% at 23 1/2 times earnings, you know, whether it's the premiere investment bank, bank stock, in the world, or it's the market in general, we just think this is the time to really think about risk/w risk/reward here and goldilocks, despite the fact that we're either at 2 or 1 or 0

cuts continues to be pried very aggressively >> guy hates goldilocks. >> i'm giving julian a pass. >> don't talk about it on turkey day. >> we'll talk about gold in a minute >> please. >> but in terms of where we are right now, and the risk-reward, one of the big risk events we've been talking about for weeks now is nvidia's earnings which are coming up this week. volatility is still extremely low right now. in general, for the markets, and so, i'm wondering how you reconcile that, and if you think that nvidia's actually going to be sort of the thing that either sets this rally higher or sets us back. >> so, it is one of the most unusual environments, i think, any of us have seen, because the amount of dispersion among stock returns is really record, which is why the index doesn't move. think about today, right we saw, you know, jamie dimon's bank sell off the way it did at the same time, we had

two-plus billion shares in a number of meme stocks that frankly people don't know what the companies do and never heard of them two weeks ago, buying and selling them so, it is a very unusual environment. and to us, in total, it says that risk in general is perhaps over priced here it's not the end of the bull market, in your view, and i they's the message we got from jamie dimon today, it's just a time to sort of let things settle in for awhile >> what's the deal with the vix? we talk about the headwinds all the time, geopolitical stuff, blah, blah closed below 12 on friday. >> it's incredible it goes to the dispersion. it also goes to the fact that the game has morphed into one-day and zero-day options the one-day vix today traded in the fives. the lowest ever for the two years plus that it has been calculated and from our point of view, when

you think about it in the context of nvidia, it is true, that -- that stock has been the market for thelast year. and it's going to move we're not sure which way, but the options market says it is going to move. and we expect the s&p to move with it. >> all right, julian, stock market hasn't worried too much about where yields are, right? and again,ite w ieven when we sd the year, there was six cuts priced and now we have one or two this year, let's talk about inflation. the fed keeps saying that, you know, 2%, they're going to stay pat with higher for longer, that sort of thing. at some point, do you have to start figuring out what the cumulative gains have been since we got above that 2% and kind of took off into 2022 because, you know, do they have to actually keep yields much longer for -- higher for longer than a lot of folks think that they might have to do, because of those cumulative years? >> i think that's some of the dialogue as much as we may not want to acknowledge it, there's no question about the fact the

feedback loop from equity prices into confidence, into financial candidates, is definitely there. and has been for a number of years in central banking, and, you know, people want to compare this to 1995, the dawn of the internet revolution. we're fully behind the idea that generative a.i. is going to be a game-changer over the long-term, but the difference between now and 1995, where you basically had a straight shot up for three years uninterrupted, is the fed started cutting rates into the kind of economy we have now when inflation was already 2.1%, versus right now, and stocks were trading 14 times, not 23 times. >> julian, always good to see you. thank you for coming by. julian emanuel 4750, do you see that in the cards, tim >> it's possible i tell you what, i think there are a lot of prices where we are overextended i give julian and his team credit for as, you know, julian, at times, has opinion very

bullish when it hasn't looked so great. and a strategist named rich ross has been bullish the whole time and he's been right. you have different dynamics, and you mentioned the inflationary impact of where we are, when copper behaves like a meme stock, you have a strange dynamic. another record day for copper, that is inflationary it is dr. copper for a reason. it's woven throughout the economy. i don't think you get off that train, by the way, but an issu we have an earnings alert on palo alto. cnbc's julia boorstin has all the details. julia? >> the company's fiscal third quarter results beat on the top and bottom line. revenues just a hair above expectations, and guidance for the fiscal fourth quarter was right in line with expectations, despite that fiscal third quarter beat the ceo saying on the call, which is still going on right now, that with a.i., they do expect cyberattacks to come at a

faster pace. he also said that their customers are responding well to their approach of cybersecurity consolidation, saying, quote, demand is robust and my expectation is that we will continue to see it be that way over the next many quarters. but even with this, shares down. they're up 58% over the past 12 months and nikesh arora will join jim cramer coming up on "mad money." melissa? >> julia, thank you. guy, pnw >> it's all-time hishgs gh, nott it matters 380ish, or so. problem, i think, is valuation the quarter was fine the guidance wasn't what people were looking for me, the question is, where do you get back into this thing the recent low was 268 or so given sort of the market dynamics around now, i think, 268 might be in the cards. >> they had some recent missings, so, there was a question about, i don't know, do

you believe management, and i think there's issues still given the guidance >> especially given where i think they sit in the middle of the hardware, but more importantly, on the software side of the business and this is three straight billing quarters where they've had weakness so, i think this is kind of a problem. i am of the view, and if nvidia holds and we just look at where the dominos fall or raise from nvidia, that's the opposite of falling, but software tends to follow semis and semis closed today at all-time highs palo alto, adobe, the biggest and most successful dinosaurs of the world, not dinosaurs because i think they're yesterday's news, but because they're big. and they haven't really responded. this is disappointing. i think this is setting up for an opportunity >> a bit of a cautionary tale of what happens when you have a fully priced market and there isn't a guide for it so, if we don't get that continued pull forward of earnings and able to value that into today's terms, i think that might lead us lower.

as long as they are hitting on all fronts, i do think nvidia will beat, but that will be the theme that cracks the market >> yeah, it's worth noting, the generative a.i. trade has been very narrow over the last year and a half it's been basically the chip companies that, you know, predominantly nvidia, but it's been the large platform companies that have been able to benefit for that if you think about the companies, like, there's no doubt about it, like, cyber is going to be a thing to combat a lot of stuff that's moving at much accelerated sort of paces so, again, the billings are not there. i think you're probably seeing some people stealing from peter to pay paul as it relates to their enterprise budgets right now. this is one that makes some sense. coming up, microsoft's latest reveal ahead of its build developer conference tomorrow. and the new class of pcs putting a.i. right at your fingertips. and a retail reduction from target the company slashing prices on thousands of items as inflation tightens consumers' wallets.

what it could say about the competition, and could a price war be on the horizon? don't go anywhere. "fast money" is back in two. this is "fast money" with melissa lee, right here on cnbc. . (jen) so we partner with verizon. their solution for us? a private 5g network. (ella) we now get more control of production, efficiencies, and greater agility. (marquis) with a custom private 5g network. our customers get what they want, when they want it. (jen) now we're even smarter and ready for what's next. (vo) achieve enterprise intelligence. it's your vision, it's your verizon. tamra, izzy, and emma... they respond to emails with phone calls... and they don't 'circle back', they're already there. they wear business sneakers and pad their keyboards with something that makes their clickety-clacking... clickety-clackier. but no one loves logistics as much as they do.

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welcome back microsoft unveiling what it calls its smartest pcs ever. the lineup, a surface pro laptop and tablet with qualcomm chips that allow the devices to run a.i. features without draining battery life the reveal coming ahead of the build conference that kicks off tomorrow steve kovach is there, coming to us live from redmond, washington hey, steve >> hey there, mel. yeah, so, microsoft announcing their new generation of pcs ahead of that developers conference, kicking off tomorrow they're calling them co-pilot plus pcs coming from manufacturers like dell, hp, samsung, and microsoft itself they come with a new chip processing on the device, where as before, you needed an internet connection. and microsoft says it ocean%s this crop of a.i. pcs to conference people to upgrade and plans to sell 50 million of them

by the end of the year they start chipping next month but the hardware really means nothing without a.i. capabilities on top of that, on the software side, and microsoft co-pilot assistant is getting a number of upgrades on windows, including real-time translation of languages, and recall, that can remember everything you've done on your pc. it will include the latest version of chatgpt, announced just last week, that's coming soon and microsoft took several shots at apple, claiming these a.i. pcs are faster and more capable than apple's latest macbook air. microsoft undercutting apple on price, a couple hundred bucks cheaper, depending on the model you get. apple doesn't yet have a generative a.i. tool like co-pilot on macs or iphones. the message here, from today's event, apple is behind on a.i., why microsoft, which is considered the current leader for the tech, keeps pushing it forward, melissa

>> all right, steve, thank you steve kovach joining us from redmond, washington. is that the right thing, i mean, do you accept that, that apple is behind, microsoft is ahead and here's proof >> yeah, i think they're clearly behind, but the hardware aspect of this is just a marketing thing to give microsoft more time to kind of explain how far ahead they are when you think about apple's market share on the high end pc front, on tablets, you know, they're dwarfing what's going on i think apple will probably catch up pretty quickly. they're not talking about on device it's going to be cloud-based that probably happens in the fall, so, right now, a lot of people are using their fancy iphones and using apps like perplexity that's a 2025 thing. >> i think it's been well flagged that apple is not the one in there innovating on that stuff. didn't think that maps when you have the business.

noted, from mark's perspective, apple's significantly outperformed microsoft microsoft has done nothing it and all we do is talk about how far in front microsoft is, so, the valuation is not terribly attractive at this point, and i'm not saying apple's is, either, i'm just telling you, the market is telling you, we'd rather own apple. >> oddly enough, we're talking about apple potentially chasing microsoft. it seems microsoft is trying to reinvent some of apple's cycle performance. so, you have this pc, and they were a bit subtle with what they said, but there is some on pc features in terms of the a.i. situation, so, we talked about palo alto network, we talk about cybersecurity, this will help them, and compel users to perhaps push that cycle forward. the question is, you know, these aren't iphones, these are pcs, you're talking about a three to five-year cycle. after you've made the purchase, then what? this gives them two to three years of runway. >> a lot of fine shows on cnbc

>> so many >> 9:00 a.m., the "skwquawk on e street." j.c. was on this morning -- >> jim cramer. >> yeah, j.c the biggest refresh cycle in pc history. he might be right. to tim's point, you better hope it is. at 33 times next year's numbers, microsoft is expensive >> if you are a business, are you going to opt to buy this newest pc which is going to be more expensive, on the bet that you are also going to buy co-pilot subscription, at $30 a head per month >> no way. >> is that the bet that we're making in terms of believing what microsoft is unveiling today? >> it's not a cap exbet that people are making on the xer prize side we hear what's going on on the enterprise side. >> here's what's coming up next. >> missing the markup.

target slashing prices what the changes could say about the competition, and how options traders are playing the move ahead of earnings. plus, hims getting in on the slims. the digital pharmacy company is getting in on the weight loss drug craze, and shares are packing on the gains but can it keep the weights on you're watching "fast money" live from the nasdaq market site in times square. 'rba rhtft ts.ea. i'm just here for the internets. at&t it's super-fast. reliable. you locked us out?! arrggghh! ahhhh! solution-oriented. [jenna screams] and most importantly... is the internet out? don't worry, we have at&t internet back-up. the next level network. i sold a pillow! the future is not just going to happen.

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welcome back to "fast money. stocks closing mixed to kick off the week the dow dropping nearly 200 points it is back under the 40,000 level. the s&p notching a small gain. nasdaq closing at a record high. shares of zoom down. guidance coming in a bit light shares of norwegian cruiseline jumping 8% during the session. the company raising its full-year profit forecast, as vacation demand and ticket prices continue to climb and more metal magic gold at another record high. copper hitting a fresh all-time high, as well. silver reaching its highest

level than more than a decade. now, i think that we don't talk about dan's zebra nearly enough. with zoom down, we have to go to you on that. >> well, it's not guy's clam, but zebra has some tell think f tell think things in there zoom, 40% of their market cap is in cash. and 78% gross margins. why is this the z in zebra i look for names that have been beaten up, and have the potential to -- >> why are you talking to sandy right now? >> he knows we have issues >> okay. >> i think it gets taken out when you have that sort of framework, that balance sheet, that customer base, and that cheapness, to me, it sounds interesting. >> play the game to win. i mean, you know -- >> the acronym game. >> the acronym game. and if you look at my clam. >> how are you doing >> pretty good there take a look at agnico eagle

mines. a, in the clam, is aem, and this stock has been on file, as the entire space has been, and thank you for mentioning silver, because finally, that's on its horse, and the silver stocks are doing well i'll give copper to tim, he's been on it but freeport is a within a whisper is making a high >> copper is not in your acronym. >> we can talk about the blicep, if you want. i stand by those names, the international. i will say, i think copper is a little ewe foeuphoric five bucks a pond in copper, they should go up 2 1/2 times from here. coming up here, hims and hers going to offer weight loss medications. we'll dive into whether the

company's plan the live up to investor hype. plus, target shares tripping up after announcing a price cut. a look at some surprisin sentiment in the options market. that's next. missed a moment of "fast?" catch us any time on the go. follow the "fast money" podcast. we're back right after this.

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welcome back to "fast money. target shares dropping after the company announced it will lower prices on more than 5,000 food and household essentials like diapers and paper towels the cuts coming as the retailer gears up to report earnings on wednesday, and as walmart sits near all-time highs. are these cuts a sign that target is trying to regain market share and that earnings could be ugly? it is curious timing, just a couple days before hand, saying we're going to cut prices on everyday prices, mostly groceries, ahead of its earnings >> walmart reported on may 16th. this is -- again, this is just me sort of reading the tea leaves target saw their inventories are down 2.7% year over year against sales growth of almost 6%. they said, omg, we're not going to be able to do that.

i think they have an inventory problem again. they are trying to get ahead of something. i don't think it augers particularly well. that's just me trying to figure things out i think they're going to have a margin and inventory problem >> reading a joenote by jeffrie they argue that this gives them a chance to get some market share. they are efficiency offsets. i think it's an interesting theory it doesn't necessarily mean it's a five-alarm fire. maybe they are looking to take on they've lost a lot of market share, and it's a case where we know what's going on with the segment mix and what's not been working for them and working for walmart. i kind of like the move. >> if we dissect how walmart has been gaining share, especially among higher inc come household. people go in for groceries, they buy general merchandise. is target able to replicate that, when their general merchandise prices, it's a different mix. it's a different mix at a higher price point. >> general merchandising and clothing, and, you know, home

decor type of stuff. listen, i'm going to try to find the positive side of the coin if they were making the promotions in that business, really what the core business model is, that would be the five-alarm signal. i'm willing to buy into tim's quoted argument, good for argue and good for the consumer. i think it's good for the consumer competition technically always is i think they are acknowledging that their numbers are going to look dire. and i was looking at that forward spread it's about ten turns then you really drill down into what's going on in terms of the promotions, and we've seen this story play out before, when they got the inventories wrong. and this time, they're really going have to struggle to gain back market share from walmart which has already become a go-to sticky type of customer. >> cheap for a reason, he's saying, target is. >> yeah. it's hard to figure this stuff out. a week ago, we were trying to figure out that headline about

walmart, they were making cost cuts, head count reduction, that sort of thing, said, ah, if tey are doing that two days before earnings, what do we expect? you can never really figure out why companies make these announcements when they do they could have waited but again, if inventories are really tight here,this is something that if they don't have those offsets for efficiencies, this should weigh on margins, and what does that say about their ability, you know what i mean, to kind of keep the market share that they have, if walmart is really eating their lunch >> the options market getting positive on target late in the day. mike khouw has a closer look at the action hi, mike >> hi there. yeah, you really hit it on right after this cost-cutting news came out initially, the flow was quite bearish we saw well over average daily put volume, but by the end of the day, we had about 1.75 times the average daily options volume overall, but calls did outpace puts and the buzziest calbusiest cale trading for $3.89 a contract

buyers of those calls are betting that target's implied move, which is implied 7% by the end of the week, could be to the upside they are raisking it to recover to the levels we saw a week ago. and that expresses the u uncertainty of the timing of this announcement. >> all right, mike, thank you. mike khouw coming up, the skinny on hims shares of digital pharmacy startup hims and hers soaring. we'll talk to a company executive to discuss all the details. >> throughout may, cnbc is celebrating asian american, native high way yan and pacific islander heritage. here's deidrdre bosa. asian americans in the workplace report receiving negative feedback at nearly twice the rate of other ethnic

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welcome back to "fast money. shares of hims and hers soaring 27% today after announcing it will offer compounded glp-1 injection that patients can access via providers on its platform the drugs are not fda tested or recommended, but allowed because of current supply shortages. hims and hers falling behind providers like ro in offering compounded formulas. prescriptions start at $199 a month. far below the list prices of fda approved drugs currently offered by lilly and ovo however does the new offering size up against existing competition? let's ask the senior vice president of weight management, dr. craig pre-mack doctor, great to have you with us thank you for joining us >> thank you >> the price, obviously, is much, much lower what do you tell patients, though, about safety, particularly when the fda has issued warnings about the safety of compounded semaglutide?

>> we spent a lot of time at hims and hers trying to find a pharmacy that could give us both quality, and, so, the pharmacy was very vetted. they went over 400 observations. it is a 403-b compounding facility, which is inspected by the fda. and we had to find not only quality, but affordability, and supply >> sure. there's 403-a and 403-b. 40 403-b, fda licensed, insecond. i would assume they are making a compounded version, and the fda, in its warning in january, has said that it has no basis -- the fda is not aware of any basis of compounding using sodium that would meet federal requirements. do you tell patients that this is just as safe as a brand name drug i understand that it's going to

be huge for the business of hims and hers, but how do you ensure that the patients are aware of what the risks may be? >> yeah, great question. and the first thing is, we have not compounding a salt version we are compounding the base version. we are not using b-12, which a lot of people have used, also. this is cgmp qualified, and as close to the base compound >> meaning what? i mean, is it semaglutide acetate? >> we call it base it's not a salt form at all. >> i see you work not only with hims and hers, and various weight management centers in the phoenix area what do you think the trajectory is, as prices start coming down, even with coupons, can you get some of these brand anymore drugs for $500 a month, which is very different from the list price, and eventually there will be generics, granted, that's sometime in the future how do you see this in terms of being a sustainable part of hims

and hers business? >> it's not just semaglutide so, we are offering a complete weight loss solution so, we do have oral medications, compounded medications and right now, using the numbers that you do, people cannot go to the local pharmacies, i'm in arizona, especially in arizona, and there's a three or four-week weight just to get them, even at those prices, as the prices seem to come down and more and more americans are able to take care of their health through weight loss as a comprehensive fashion. i think we will be able to match our supply to what they need >> do you have any sense of who the incremental customer is at this point are these people who have prescriptions because of, you know, cardiac needs or, you know, actually they're obese because i've been on the telehealth sites as part of my documentary, and you can very easily, without having the proper bmi, get compounded semaglutide from a pharmacy. >> we use what we call fda criteria so, your bmi has to be over 30

or 27 with several weight-related factors if we're using compounded semaglutide, and also, you have to be a candidate, so, you don't have any other of the problems that you could have that would make you a noncandidate, which is why we offer the oral medicines, also. if you are not a candidate for one, you will be a candidate for our comprehensive approach >> what are the oral medicines >> we offer m etf ormin, compounded, sometimes with b-12, depending on the patient, and what their needs are able to personalize the offerings. >> doctor, thank you for joining us >> thank you >> the concern among the analysts that, you know, in terms of the notes i read today, that this is not necessarily sustainable in terms of hims and h hers revenue >> once the branded suppliers

actually have -- >> cheaper, generic. >> compounded is going to -- yeah, i mean, based upon what lilly has done, it's -- it's not surprising, especially with the smaller market cap company that you saw this kind of a reaction, but -- asking important questions like the ones you just asked, and the health dynamics that i think are still very unknown, you know, in reality, offers probably a very different outcome. >> how much runway is left before the market realizes it's unsustainable? and congratulations, out of the dozens, if not hundreds of spacs that came out, this is one that's seemingly exceeding now with 2020 or so. i say stay with the name here. >> yeah. there's so few ways toe actually play this right now, that's why you get this sort of move on that market cap. coming up, wall street bingeing on netflix. if shares continue their recent runup. that is next more "fast money" in two

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money. shares of netflix climbing more than 3% today and closing at its highest level since november 2021 the move coming after a bullish

call that reiterated an outperform rating, to $725, 13% upside from here analysts at wedbush said the company has won the streaming wears. bonawyn, what do you think agree? >> i tend to agree i think they've won the streaming wars we've seen a lot of bodies strewn in that war i really just wonder how much upside there really is from here i tend to agree, but with a relatively quick hook. i would probably look to buy some puts or something, given volatility being so low. >> the analyst says the competitors will flail, trying to replicate netflix's business model. >> i think what they're doing with live stuff, they're going to have this big logan paul/mike tyson -- >> you got it this time. >> they're doing stuff with david chang. and getting into sports rights, if they do that properly, i think, to me, again, pull-backs like the one we had after earnings -- >> they have two nfl games coming christmas

>> christmas day i have to watch it on netflix? the giants play on thanksgiving. >> think of the ads that can be sold surrounding that game >> you think so? >> you tend to build your christmas day around -- >> obviously >> football, yeah. >> wait, hold on look at the schedule first >> real quick. i mean, they're actually, again, they got expensive, then they, i think, the numbers for next year, $23 almost, so, now at 27 times, that's 690 level from october 21 is actually in the cross hairs. so, as tom rogers says, you stay with this. >> so much for not liking the standards in which they're going to start reporting some of their data and some of their -- >> right. >> no one cares. at the end of the day, when you have this kind of cash flow and the stock's rallied 20% in 12 sessions since that disappointing announcement, it wasn't >> up next, final trades

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do not miss the cnbc financial adviser summit on wednesday, where tim seymour is joining the panelists. >> come on >> how about that? >> scan the qr code to register or go to cnbcevents.com/fa time for the final trade >> i'm going to be with melissa, as well. melco. i think the recovery in macao just beginning >> bonn thawyn >> jpmorgan. i look for an entry point. >> dan >> yeah, the z in zebra, zoom.

it's fine. >> this is going to be a feisty set, tim >> yes >> krischris kreider, huge "fas money" man >> wednesday night, baby we'll be there >> do you have a final trade >> rig >> all right thank you for watching "fast money. see you back here tomorwith jim starts right now 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 make friends. i'm just trying to make you some money. my job isn't just to entertain but to teach you s call me at 1-800-743-cnbc. or tweet me @jimcramer. i took the dow 40,000 in my hand, i had it right there and noticed the bill, the writing, co