letted check out my podcast. scan the qr code or download wherever you get podcasts. a lot of human space flight or rocket-time activity in focus in the next days. >> thank. looking ahead to next week chips, hardware and a.i. in focus. kpu text and taiwan. does it for "overtime. "fast money" starts now. live from the nasdaq market syce in times square, this is "fast money. on tap tonight tech time-out from nvidia to alphabet to dell bulls riding high much of the year some errors come out of that balloon despite the close. a blip or start of something bigger casual comeback. shares of gap at record highs on this earnings beat breaking down retail and where these stocks go from here. later on details on icon's big bet or caesars financial advisers not jumping on bitcoin etfs and revealing the charts of the month.

i'm carl quintanilla along with the panel. happy fris th friday thanks for being here. >> thank you. today's final urge, the surge. dow monster gain nearly 600 points best day of the year nasdaq rebounds from down about 1.5% and software trade a trouble spot i ishares down almost six over five sessions. nvidia closes out in red down 1% today. biggest disappoints is dell. down almost 18 on earnings with fairly tame pce today should investors feel bullish going into june and buy any tech weakness karen what did you make of this macro print today? >> yeah. well, go to dell first. >> sure. >> dell, a big position for mere sort of stands out as the most painful. i think part of it was the run-up just on the heels of nvidia.

it wept straight up. i don't know how many points 30 maybe, and this sort of returned to earth combination of expectations being super high and some margin pressure they talked about one of the things i found interesting was that the margins for the smaller cloud service providers are better, but i think the mix they're getting bigger orders from, having less margin there so i think that the story's intact what's the right -- i think growth is still there, but what's the right multiple for this is a hardware company-ish, mostly right? yesterday's multiple not the right one. i haven't done anything. sold a little bit of calls against it not nearly enough at all to hedge, you know, a big loss today. sticking with it. >> still trying to get my arms around this idea, tim, being margin rate dilutive, margin dollar accretive material to understand

>> i think it is. >> tell viewers. >> sorry to -- >> go! >> if they sell to a, you know, a google right? google says, look buy however many hundreds of thousands's chips. the price we pay work it out. if they can sell at many to 50 customers margin on each of those is higher. so the dollars are higher. but you're saying that's not good enough? like -- >> i just think a topic on the call that obviously was -- among the chatter today. >> yes. >> on the price access. >> does the street care about, okay higher gross margin dollars, at a lower rate because meta, google, buy tons of them. is that not as good? >> turning to earnings season. about gross margins. really, think about this week and then over to the software earnings, carl, you mentioned in the open crm's numbers were fine. the guide and discussional mention of the dollar going more towards a.i. and hardware side

of a.i certainly the spend around what's going on in chip land that gets back to then the market's close today end of month, interesting month. up month, but volatility for sure the close really trend going into next week or weakness really had three days before. weren't watching markets, last hours of trading extraordinary any measure, any time. sleepy summer weekend. right? finished flat on nasdaq. at one point down almost 2% intraday looking at nasdaq itself relative to to richblt all-time ties three days ago down almost 4% from that point move seen across the m7. that's really the debate into next week. because it was nice to see a pce softer the consumption data also. payroll's next week. a lot to chew on for bulls and bears. >> like a choose your own adventure thing. >> when you look at the market

going end of the day, that's mostly institutions that are buying you see it on the floor in the north. most professional traders, most institutions stay away from the first 15 minutes of the trading day. they left the retail community sort of price and parse that out. usually they get involved after that after that first 15 minutes. and then they hold off during the day. over the day orders. then at around 3:00 or 2:30 get back involved.orders. >> accelerating over time. >> accelerates over time to a more tightened, condensed time period depending how much to buy or sell obviously today we know which way that the institutions were relying on if you look back at software i i equate this to pre-pandemic, pull forward with hardware now a pull forward with a.i. people want to invest in a.i. versus the other software gains or other software, their core.

crm lost a lot of sales because people invested on the a.i. side of it. some companies, pulling forward a.i. but only if you're going to make their company more efficient with your a.i. offering does thatmake sense? so if you're not moving the needle for a.i., if you're not considered the sweet spot for a.i., you're losing it to the vast amount of companies that are considering it why we have those handful of names that have really performed. >> is it as simple as making the difference between a submodel and a consumption model in software >> yeah. >> is that we we are >> go ahead, karen. >> and the model -- i'm not sure i think valuation on these names was super high to begin with. so -- microsoft i think number one in the igb and adobe and cim was up there down a lot this week i think that some of that also, i feel like is, it was too high

going in, and this as well that the spend is going elsewhere. that was a little bit of dell also enterprise spend going elsewhere. >> i think it's the spend. talk about this a lot. trying to figure out in the new realm of a.i. and this pie either revenue or profitability. whatever you want to say i get where it's a bigger pie for nvidia anyone directly involved talk about hyperscale. can microsoft charge more for software sure gets into the software and size of their addressable market, again, look at adobe, palo alto, best performers in the last five years. charts you wanted to own adobe making new lows every day on a one-year basis. we've seen typically up to this last round actually second quarter in a row up numbers out of big software companies where they're not following through that lead.

semiconductors making all-time highs. software's often followed with multiples that followed. haven't seen it now for some time gets back to, i think at some point we have priced a lot software at a level is a place rubber hits the road and reality. >> interesting note bofa so many pain trades in 2020. the argument now it will be value outperforming growth his theory, a team pce today would not support tech didn't happen obviously. is it still possible >> let's -- karen can speak to this the value girl how long have we been waiting for value. >> a long time. >> exactly the way i see it is that you could get brief spots of value depends what you call value. right? cheap could be cheap for a reason, but i think you need a lower rate environment to have value outperform people are always willing to pay up for growth, i think, because you grow into your valuation when you talk about the m

magnificent seven, extending that to software trading at 30 times. other 493 trading 18 time. bifurcated market. where do you go from there extend it out to software. software trading 40, 50, 70 times. depending on what metric you look at. i don't think that's sustainable and that's what we're seeing. >> also a week in which i think semis supplanted software at biggest s&p weight still the safest place to play tech >> yeah. i think so not sure you're returning into semis now. in terms of total of where semis, the new commodities no question about it the size of the economy that they're attached to. it doesn't mean you have to jump in overnight while after that nvidia print felt a relief to buy once again, doesn't mean you necessarily had to chase that price action we're seeing a little pullback i think. i agree with you

a move in to value i think this is -- i love his work have a long time seen as positive for the market. broadening is really more about diversification and, look, banks outperformed everybody since last october under value territory. make an argument higher rates -- >> one last, button up on this see a fed blackout not a lot of conversation taking place. >> or fed speak next week. talk more about today's final hour surge and where the markets go in june joinings here on the desk cnbc contributor pete boockvar and financial group. great to see you welcome back. >> thanks. >> what did you make of the close? a material move? >> noise i say attest to the 50 day, around so i don't really look too much into it. to think there's some reason for it i think we're trading in this range, and i think what the fed will do, what employment number next friday will do.

i actually think the unemployment rate becomes as important as the inflation data in terms of moving the needle on what the fed may do. you see a floor print in unemployment rate next friday then the fed's going to all of a sudden think that maybe july is a possibility. i don't think if it's july they're waiting until december. >> unemployment late has a lot of politics attached to it and participation in the labor force attached to it aren't they looking through that >> well, that's why a 3.9% unemployment rate, where we are now, highest in two and a half years. his hoarically very low. trajectory they're focused op. tips you into recession. trajectory in move in unemployment rate. >> today recon assumption down a tenth in services. down four-tenths in goods. chicago cpi at 5

rewriting the story about growth >> never seen a more mixed and uneven economy than seen now for every good story i can tell you a bad one. look at earnings conference calls from yesterday, which i do there's an extraordinary bifurcation. what i read and see, the stats i look at, feels like a 1.5%-type economy. not a 3. i think the first quarter gdp number, which we saw, is more reality than the 2.5 to 3 that some of the estimates still remain at for q2. >> a lot of those rewritten today? came down. >> yes responses to that retail sales number personal spending number and trade number, yesterday. >> peter, when you look at the ecb and the boe and when you look at the boc, all ready to start cutting. i think we live in a world economy versus the u.s. economy. how long will the fed wait, if the rest of the world is cutting for them to start?

>> fed wants to join the party they're feeling that peer pressure, but if you look at jay powell and put your feet into his shoes, he does not want to see inflation ramp up again. he sees commodity prices he sees shipping costs that are now inflecting higher again. he doesn't want to be in a position where he tweaks with rates. messes around and then all of a sudden back half of the year inflation goes up again. however if that unemployment rate is 4% or more, pressure's getting intense for him to cut. >> let's say that's the case you see a poor handle. a new territory haven't been in, in a while say he cuts 25, let's say. does that really make a difference >> it's noise. we're not going back to zero it's total noise going to have no impact on the company. the term "restrictive" everyone has their own interpretation it's restrictive for those that have debt coming due, but a 25 basis point rate cut is not going to do anything in fact, if they cut the short

end by 25 basis points and the market thinks the fed's backing off in inflation fight, i think ten-year yield goes up what real estate person does that help? >> let me ask you a little bit about bonds, then. also a fascinating week between very weak treasury options dynamic that nobody cares about any of our politics here a lot of political stuff over the last 24 hours, but i would make an argument no matter what administration we have in the fall it's deficit negative and the market's telling us something in terms, long-term rates came in a little that trend, this year's trend, let alone from july 2000 higher on the long end. course about your thoughts. >> higher for longer not a cliche it's real. at least the back end of the curve, that 4.5% level yeah a major imbalance. those options you mentioned were poor not mediocre they were poor outright poor. the om thing that saved them was the back end data that reduced gdp estimates.

but that's going to be a struggle in the next couple years. i mean, debt to gdp -- sorry 6% 3.9% unemployment rate is strubble -- is trouble tax receipts fall, higher single digits to 10%. >> peter good to see you thanks have a good weekend. >> you, too. what's the trade around this >> i think the cooling of the economy, the call it less pressure on the if ed in terms of inflation, i think it's going to help industrials. it is going to continue to help banks. banks on valuation make an argument still interesting i still also think interest rates sensitives the things with secular trends still love utilities here. look forward to paul sankey on the show stay tuned energy is fascinating too. forget global politics there we're seeing, you can tell when oil majors are all buying each other up 150 billion in m & a talk about that. i still like energy.

i like utilities i like health care and i like banks. >> talk some oil opec in a little bit. >> we are. you know, i always think you do the opposite of whatever oh beck does always skittish and trying to, besides keeping oil around $80 a barrel their sweet spot for me whenever they start to hold or hold cuts getting desperate. to me oil in my experience is going lower. peter said you have debt coming due, think about the commercial real estate market if we don't start seeing some break in high rates, all of these shows are going to start to pivot to what collapse are we seeing in the commercial real estate market? because those re-ups are big in the next couple months/years. >> 30% outstanding debt in the next couple. still to come, gap gapping higher soaring on back of strong earnings just a gap thing or

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welcome back to "fast money. the stock ob gap, a fresh 52-week high issues strong guidance and a big earnings beat nearly 30% spike latest in a slew of retail names jumping higher this month. companies like vf corp., foot locker posting major gains of late what do you make of the moves and commonalities between the deckers and gaps and anfs? >> return of the '90s. >> gap, everything to like on every metric margin, gross margin was great sgna very good operating margin the thing that was actually most amazing to me, how strong the guidance was i always think, why do you need to give guidance for any company. yet they felt so comfortable giving very, very strong guidance so we've got to think this

quarter is going very well, and -- that they feel confident enough to give that. so the stock obviously was up a lot, but i don't know if it's more expensive today than it was yesterday without these numbers. i'm not sure outstanding job. >> yeah. i mean, i always think your inventory always wins. they made the case to hire someone from the outside, revamp the digital website. revamp the inventory and actually sold down 15% of the inventory. got rid of a bunch of stuff and it's just starting to gain traction i think the fall where they started to really pivot. now it's really starting rubber hit the road type thing. urban outfitters had an 8% growth in revenue year over year you start to see some of the retailers that are capable of doing it tim was joking around saying return to the '80s a lot of these retailers that are revamping themselves, becoming cool again. it's all about trends.

whether their gearans are in or out. whether baggy's in or out. high hip, low hip. go ahead, tim. i know tim -- got a dozen comments on that. >> have them all and going to go rollerblading after this i think what was, back to the gap. impressive all four brands kicking it margin expansion the question more expensive or will street reward a higher malt pop. that's part of it. fastingating abercrombie talked about coming into the year clean, the ability to build off that. it's a less promotion'sal envim. contrast target. we thought announced cutting prices praying offense on defense, actually a sign of strength have good numbers. numbers were awful basically said actually they're fighting trends in terms of having to be overly promotional. i think that's the trend dove it back to what we talked about last block i think discretionary wherever

that margin's dollar goes falls under a lot of pressure second half and reluctant to chase these moves. >> care, hearing about discounting. america warned, prices cut at amazon and do we have to worry about a promotional back-to-school >> retailers badly burned by the promotion cycle postpandemic double ordered couldn't get here and last with, bill simon on when walmart had an inventory he called apocalyptic up 34% so burned from that that would rather miss out on sales than be in a position inventory is too high and go through a promotion cycle again. one retail i'm curious about is lulu so good for so long. seems to have lost their mojo and is it that it's just too

expensive or -- >> competition. >> or is it competition? aloe -- that's an interesting one to me. nike also. similar story. right? great for so long. >> big china mix >> that's true lulu -- nike more -- >> less lulu. >> right curious to see i think they're wednesday. >> had a lulu conversation on this desk. as someone short at times. b lulu short last years, covered it, announced that while the kpesive landscape is fierce as it is, at peak margin. their margins aren't getting better getting worse. the multiple 24 times now might get cheaper. having said that, still lulu and until proven otherwise i still think a first-class brand and at some point is cheap enough to say i didn't think i could buy here. >> losing a key executive to vans today as well. a lot more "fast" to come.

what's coming up next. caesar's hits the jackpot. will today's big gains spread across the gaming space? we'll debate, negs. plus, crude crumble. drilling down on crude oil's worst month of the year and how next month's opec meeting could could impact the energy trade. you're watching "fast money" live from the market se itat times square we're back, right after this. c helps you l plan your trades and stay on top of the market. e*trade from morgan stanley

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welcome back to "fast money. caesar's surging nearly 12% leading the casino rally today after icon made blowing comments about the company. >> hey there, carl he bought stock in caesar's. when i called carl icon he doesn't like to talk about his positions but we know icon thinks highly of caesar's ceo. after all essentially he put the guy in the job and tom rheem told me today he agrees with carl icon. caesar's shares are undervalued. up about 25% year to date in spite of what we saw last year quarter after quarter of brag-worthy results. even last quarter caesar's missed expectations. bad luck not bad management and everybody

in las vegas got hit with bad luck caesar's will likely see another good going into the summer with tie room inventory across the destination, because the mirage now owned by hard rock and tropicana are shutting down operations caesar's got capex dollars coming sback into the coffers. big renovations ending i intombation might put the money back to work in spite of remarkable record-breaking results in las vegas and great performance in regionals rebounds and macao off year to date then that activist letter today urging penn entertainment to sell itself and look at those shares up almost 20%, and still year-to-date down 33%. one industry insider told me today, carl, investors don't have patience to allow digital

and sports gambling to hit stride and not giving any credit for the old-fashioned games that really rake in the dough in casinos there. look at that they liked what they heard there and think maybe penn telling itself is a good idea. >> just talked earlier in the week, contessa, about the illinois tax thank you, contessa brewer, the casinos today. steve, what did you make, never do activism at caesar's? >> or i don't like to talk about my positions or i'm about to. exactly. as long as everyone knows. i think he reserves the right to change as he kicks around the tires. you know what i love about carl, though a learning experience for him in all of this, all of his life he's always changed and sort of done a certain, a little different, a little nuance this could be another iteration of carl that we're seeing, but i think -- as contessa really nailed all the -- wynn upgrade, penn act vist. carl caesar's. trying to round that bottom.

i was in las vegas las vegas, i stayed a little too long, and i had to -- whankts does that mean >> down at the casino. >> oh, you mean the stock -- sorry. >> on the floor. >> out last night and -- >> and i always look for the ones that are vegas centric versus macao centric >> i like casinos and whichly like macao, las vegas and malco. back to caesar's, the stock cut almost in half today's rally a built of a shores squeeze on that comment i think people are short and i don't understand the multiple where it is. i get that they just delivered a messy quarter. there's been dynamic people haven't been sure really about where the strength of the model is bottom line, digital more free cash flow generative cash flow is interesting cash trends in vaguers are what they are and for everybody buying a lot of casinos i think on sale and investors ask

questions later. but this company, this was a re-rating story three years ago. i think you have some of that. >> yeah. straping 52-week lows as of yesterday. meantime, still to come, bitcoin just closed out its fourth positive month of the year, but financial advisers still urging caution talk about why they're feeling a little gun shy on the crypto craze. plus, drilling down on oil's worst month of the year with one of the industry's top analysts major opec decision that might be bad news for bulls, after this. >> announcer: it's the moment of "fast. catch us any time on the go. follow the "fast money" poasdct. we're back, right after this. . i've even got an extra seat. wait! no, no, no, no, no. [ gasps ] [ indistinct chatter ] [ sigh ] let's just wait them out. the volkswagen atlas with three rows of seating for seven. everyone wants a ride. [ snoring ] ok, get in.

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a news awe lert on "live nation." julia boorstin has more. >> and live nation impacted by a snowflake account. may 20th identified unauthorized activity in a third-party data base, snowflake account, then launched and investigation saying may 27th a criminal threat actor offered what alleged to be a company user for sale via the dark web.

working to mitigate risk to users of the company and notified and cooperating with law enforcement as well as regulatory authorities and in touch with users about unauthorized access to personal information. live nation saying they do not believe this incident is "reasonably lengthy to have a material impact on the business." certainly following up on those reports of all ofhacks earlier week. >> thank you. and cruise settling down closing out the worst month since november of last year as the opec conference kicks off sunday with major headlines breaking already here to discuss what we know and can expect, how investors might get ahead of the game, lead animist paul sankey. happy friday good to have you here. in-person now? we found out >> no. posted this morning switched to in-person in riyadh. capital of saudi arabia. shock to the market. as of last night assumed a rollover here and meeting very

fast it was pretty much misreporting from bloomberg unfortunately still a virtual meeting but the kazakhstan foreign minister visiting to take a carpeting, probably the right phrase, because of overproduction. not expecting quotes as they should and previous to make up for previous losses. >> where the bull argument comes in >> today the news it would be held in-person made everyone think a huge disagreement anda problem. the fact it's actually just a roundup of certain members by saudi foreign minister incase we'll get a rollover maybe a push-through into 2025 of cuts in theory a bullish outcome. probablybullish for equities the market would like to acknowled acknowledge saudis will continue to cut to 2025. >> and lead-in along the lines,

opec's last month in a while oil prices flat and sideways frankly a lack of volatility in my view, investing in the sector a long time doesn't that open up fundamentals to people just the delivering already gone on, pre-cash flow party of the gospel management teams have to follow the other driver here seems we're in a huge period of m & a. conoco, to me five, seven, ten years ago leading divesting, getting lean and mean and are late to the party. talk about the m & a bonanza to me, what's next >> good news what you're saying, getting oil volatility saudi's and u.s. cuts and can't handle low prices. you know the oil price those you love overall stayed in a range we think that gives big oil a higher multiple, bought market cou -- because the market couldn't

handle volatility. having said that, september a seasonably bad month may typically is a good month for oil. driving season but action in may is concerning. all eyes on usual suspect. china, et cetera saudi has little choice. have to maintain cuts. increase production oil heads near 60. companies are consolidating cutting costs maintaining capital discipline in the case of conoco, adding free pash flow with marathon to get them through a major capex space building in the alaska willow project and others. yeah i wouldn't say conoco was late to the trade, because obviously they did right at the bottom big and continue to add stuff. what's unusual for us is we like the big guys we like exxon and chevron and conoco looking around now at mid-cap guys tough to know who's alive. to really get excited about an

ovv, i don't know how exciting that really is finally, performance of the stock, for example, today it's been great given the commodity particularly great for the re refiners your overall point people are buying into oil seems to hold up a weak commodity here. >> so not a political show walk through what you think implications of a trump presidency versus a biden presidency would be on the space? >> you know, historically the classic is actually the oil's performed better during the democratic administrations and worst during republican. so you saw a really tough time during trump's first presidency. notwithstanding all the deregulation a terrible time for oil prices and obviously covid. sector was terrible. under biden, great years two consecutive years best performing in the market we do need deregulation. big theme, mega theme everybody's talking about is a.i. energy how much

electricity's needed increasingly thinking put power plants in the gas fields and actually even have to move dates by fiber optic can't build pipelines and can't build wires. fascinating. such realtime stuff is happening. right? so quick we're having to think so fast about how this plays out thus, my research, quoting mark zuckerberg saying you have to build a nuclear power pant 1,000 megawatt, giga watt power plant just to feed it. interviewer points out amazon just did that. did a deal for 93 a megawatts o power to feed the big data turning our attention towards energy whether or not that's relevant to trump, i just avoided the question. >> nicely done, sir! >> well, thanks for coming in. good to see you. still to come, six months later, advisor still not cozying

up to crypto why bitcoin etfs have seen a historic launch but not everyone is clamoring to get in. celebrate ing at at nhpi month. when i grew up as a kid i didn't read into being asian i grew up in a predominant he white school, why friends. fast-forward today i have two boys a quarter asian. less asian than me and you would think they are fully japanese the way they show up every day they embrace it. part of who they are so proud of the fact they share some of that culture i think that is a very good representation of the generation that's growing up. (vo) what does it mean to be rich? maybe rich is less about reaching a magic number... and more about discovering magic.

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>> umgc has been absolutely instrumental in my post-military success. after doing about eight years active duty, additional four reserves, i wanted to go after that lifelong dream. since graduating, i've gotten promoted; and i'm able to operate with confidence now because i now have the technical expertise. at university of maryland global campus, i feel i can accomplish anything. >> learn about our more than 125 online degrees and certificates at umgc.edu. [crowd chanting] they ignored your potential, and mocked your ambition. but it's not the critic who counts. with every swing and block, your game plan never changed. ♪♪

some still call it luck. let them. because you know what it's always been. inevitable. ♪♪ ♪♪ news alert on netflix tyson/jake paul fight. we have details. jugia boorstin. >> right netflix announcing on x the live boxing match scheduled between them will not happen as planned on july 20th saying tyson's

recent ulcer flare-up limited his ability to train and the fight will be rescheduled for a date later this year after "mike's able to resume training with no --" both fighters have equal time to prepare for what they calmed a once in a lifetime matchup. carl, complicated when you're dealing with high-profile matchups like this netflix is new to the lives sports business and working on it >> yep said he was feeling all right after that flight. see what that means for the fight. thank you. meantime, about six months since launch of long-awaited bit co bitcoin etfs some financial advisers are not feeling the crypto captivation our markets investing reporter is here detailing the finding in a new cnbc.com article what is the lead >> you know, bitcoin etfs are not winning hearts and minds of financial advisor. pretty notable one of the biggest cases for the

bitcoin etfs with advisers, either advisers or clients wanting to make bitcoin allocations but didn't have an appropriated regulated vehicle to do that i spoke to many advisers with very, many very young tech-forward clients who were already interested in crypto before the etfs came out, but most of the advisers i talked to say that they are still not interested in then and kind of never were in the first place. >> is it possible that some of the advisers' clients might have ibid or some other crypto bet somehow and just don't want to admit it >> certainly >> a coinbase account. hard at work on their own? >> yeah. talked to many advisers who said we have clients interested in crypto have a coinbase account sophisticated already don't need

the bitcoin etfss. a lot of advisers wanted to see more of a track record for some three years some people more than 15 years. they're still seems to be a lot of risk associated with events ftx and back to 2014 a lot of fear. >> that said, framed it as a successful launch overall. you're on board with that school of thought >> definitely. look at flows comine iing in definitely successful. coming from institutions large funds, pensions. murkier at the retail investor level for those working with advisers advisor cite a lot of issues around compliance. maybe people are interested or they even are interested in making those allocations, but then brokerage dealers either don't allow them to do so, or do allow them thto so only to a

certain extent that's different for everybody so it's still not clear and even the ones that do, you know, no one -- everyone's kind of afraid of getting hit with lawsuits goes all the way up. a regulated vehicle still not regulated enough for advisers. >> thank you good to see you. steve what are you thinking? >> i think the problem is with advisers, what she just left off on that they're so worried about the volatility they don't want to be left holding the bag with something that they can see as, you know, a sort of, investment they wouldn't have, said they shoal buy erger on in their career with that client. right? you have to know your client ethereum grayscale trust, approved for think etf year performance up 320%. this is something where if you want to beat the market, this is the beta play. i'm in this one and also in

ibit an easier way to own it in an account with normal retirement money. that's big for me. i don't have to go outside my environment. >> i believe in ethereum and own it, but you could just as easily make the argument up 320% and could be down 230%. >> it's still a -- >> great point. >> make the argument >> making the argument you asked me the part that talked about i think is critical. advisers are scared. they're scared or not allowed. hands are still tied i think plenty of interest and more regulated the products more etfs on ramps more crypto. bigger asset class this is just a matter of time, and i think retail wants it. >> guys, good discussion. still to come after the break, may trading in the books. traders have their picks for charts of the month. names that stood out to them, in a moment.

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went from $21 and basically doubled and a half right? you're up a huge amount. let tim do the math. >> sounds like -- >> that's great! >> so when you look at, waiting on phase three trials for pulmonary disease. binary outcome, went there way goes to show you, you never no in biotech, could be up, down and waited three years for returns. >> yeah. i can't do that. nvidia my chart. a few things stood out to me look what happened during the course of the month. up almost 25%. the idea that expectations were so unbelievably high going int the print last week, and yet they still managed to beat them and give enough guidance for the street to feel comfortable taking it up even beyond that, that's amazing

sold off a little. down 5% but to me seemed like the most central earnings release we've had. the most important we've had in a long, long time. yet were able to beat and the story is still intact. to me the most important. >> how about tim >> charge is microsoft back to our conversation in the opening part of the show where what is big tech going to do microsoft arguably was the most important company probably still is despite nvidia's evirgins op the scene. down 6% in six days. time of actually submitting the chart. then ferocious rally in the nasdaq still holds. we've seen, first of all apple outperformed microsoft a few weeks. microsoft really to me was the poster child for the company willing to pay above historical multiple because of the growth and growth frankly microsoft made very few missteps deserve to be trading at 35? not so sure. if microsoft starts to fail and

intraday at one point broken through the 50, the leadership outside of semis i think the market would lose and be very upset about. >> semis saying earlier. tug-of-war between semis and software within tech a crazy few days i would have gone with mcdonald's so much this week alone to watch in the way of charts. >> and a short week. >> yeah. only four days. get your "final trades" up next.

"mad money." next, cnbc. time for the "final trade. around the desk. >> thanks for joining us great being here and lyft i think is normalizing

conditions >> karen >> yes i like guidance muted. that's okay. i think a little bit there. >> and viking hold,iings a cruise i think it goes higher. >> thank you, carl, for being here. >> thanks welcome to "mad money." my dobb is not