because they are not buying the higher margin discretionary items, they are going there for milk and eggs. >> maybe, i mean, they don't do online like walmart, either, so, not going to benefit there. that's going to do it for us on "overtime." "fast money" is going to begin right now, continue tracking that earnings action. here we go. 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. major markets in a holding pattern, but some charts may hold the true key to where we are heading next. the traders lay out their picks for what they're watching right now. and tracking supply. how one company's trying to help patients navigate shortages in the glp-1 drug supply, and how the pharma giants are managing their own supply chains. plus, two takes on tesla. easy come, easy go for india's stock market. and why roaring kitty's options

bet on game stop is more complicated than it may seem. i'm melissa lee, coming to you live from studio b at the nasdaq. on the desk tonight -- tim seymour, karen finerman, dan nathan, and guy adami. it hasn't been a steady climb over the last few weeks, with the s&p trading in a tight range. with the big indices not giving us a real sign of where they're headed next, we thought it would be a good time to ask the traders to see what they are seeing as the most important chart in the market. the most important chart of the market. >> tough game, by the way. >> it really is. >> timeline -- >> an assignment. not a game. tim? >> okay, well, i went with the xly, which is the consumer discretionary etf. i went with it, because i think we are starting to see the consumer collapse. and we're seeing it in a handful of names. and we got some jolts data, we'll get to that later in the show. if you look at where the xly

peaked, you can see it was november of '21, really right about when the fed started to get into their heavy duty assault oin inflation and interest rates, whether it was too late or not. to that point, off the covid lows, it outperformed the s&p by 25%. this is the ratio chart. this is essentially xly relative to spy. and you can see, we're making new lows. and you have to look under the hood in most etfs, if you look under this hood, the biggest is amazon, the second-biggest is tesla. if this was tesla knocking it down, okay, but then you get into home depot. then you get into nike, tjx, starbucks, we've heard from every one of these players, and i just think it's, you know, again, what's the most important chart for the market? it's certainly for a time and place, but as we think about what's been so strong, it's been the consumer, i'm worried about discretionary spend, and we heard it from a lot of different types of discretionary spend this earnings season. >> and from a gdp perspective,

the consumer is the most important part of that measure. >> amazon, 24%, tesla, 13%, mcdonald's, cmg, only 4%, but that's obviously done really well. and i'm with tim on this one. it's telling a story without question. you throw lowe's, i mean, there's a lot to be concerned about, without question, and obviously amazon were to roll, that would roll in a significant way. for me, if we're still -- >> you were asked. >> i was? >> well, yes. you want to bring -- you seem very excited to bring to the american public your chart. >> i'm not that excited. well, every wednesday is an exciting, hump day -- >> it's tuesday. >> huh? kre, melissa lee. if you look at the -- listen, again, i'm not calling for banks to explode or, but kre is not trading particularly well now for quite some time. this is something, it probably made its all-time high, sometime in 2022. we know what happened in '23 and it bounced. however, we're nowhere close to its prior all-time high with an

s&p within an earshot. if you think about, small and regional banks are the life blood for small and medium-sized businesses, i think it's trying to tell a bit of a story here. as the market continues to go higher, kre sort of waning here is not particularly encouraging. >> one of the things that had been ailing kre is the exposure to commercial real estate, the concerns there. with rates coming down, and potentially, you know, coming down even more with a fed cut closer, rather than farther away, isn't that better -- >> yeah, you would have thought that, and the price action of large money centers, of home builders, of regional banks, especially -- we just had, you know, ten-year come np 30 basis points in, what, three, four trading days, you would have thought those sectors would have been trading better. they haven't been. so, again, you know, we were making arguments of why the banks are, okay, they're benefits when rates are going higher, and we think they're going to do better if they were l lower, but doesn't seem to be playing out. >> you want to talk about banks or anything?

>> banks. >> okay. so, actually, i did one trade today, i got out of morgan stanley and increased my citibank bet. so, we're -- five weeks away, i guess, from earnings, and this one being the cheapest on the book metric makes it interesting to me, and i like -- >> five weeks from earnings again? >> yeah. >> i didn't mean to interrupt you, but i had to. >> just in the tail end -- >> time for banks again, guy. just like that. >> a lot of those -- they'll be reporting friday july 13th is probably -- or, the 12th, actually. >> okay. >> july 12th is when we start again? >> bank earnings again. it was april 12th when they all started. >> so -- diminishing your morgan stanley position -- >> to zero. >> yeah. which is, what? >> it was -- i had done nicely, remember they had that investigation and that seemed like a compliance nightmare and i thought it was going to weigh on them a lot and yet they put out good numbers, asset

management business is doing nicely, and i also think that there is a tailwind in the amount of capital market business that there will be, and so -- >> that sounds like the bullish case for morgan stanley. >> it was. the market took it up north of $100, and that was surprising. so, i sold it, i don't know, $98 and change today. citibank, i think, has a lot of those elements, as well, but is cheaper. it doesn't have the asset -- it -- not seen as having the asset management that a morgan stanley does. and it does have banking ing business, and the other business. and the valuation was cheap. that is what i did in the bank space. i don't think it's a bad time for banks. if your book is not where bank of america is, a lot of good things can happen. and we haven't seen credit quality, it's ticked up a little bit, but nowhere remotely close to problematic right now. and the economy is doing okay. so, i like the valuation, particularly when the market is more expensive. >> so, karen self-would you

rathered. >> she can do. if i look at you wrong, i get in trouble. >> well, she can do whatever she wants. >> at some point by you. >> what would you do? >> i agree with her onciti, and we talked about this. if it just gets to 75% of book value, with a $99.50 -- it's a $75 stock, and i'll stand by that. we've said it for awhile. it closed at $61 and change. there's room here. i think she's right to do that. morgan stanley has their own sort of issues, i guess, but citibank here, if you look at the chart, it's been sort of grinding higher. >> you are a holder of citi. >> citi is my largest bank position, and has been also through appreciation. and i guess i think about the morgan stanley and the asset management business, which is obviously such a major part of the story now. we've come through such an extraordinary period. any weakness in the markets and any weakness in terms of asset flows is something to worry about for some of these names. right now, it's been a tailwind. >> karen, what is your most

patien important chart? >> here's the thing about the assignment. >> she's already hedging. >> i am, because, you know, it's funny. we have carter, he learns everything from the charts, and i look at the chart and go, really, what can we get from this? he looks at valuation fundamentals -- >> we just want to know. >> i picked nvidia, because as the -- as the breadth is not going wider, it's actually narrowing, i think that so much of the sentiment in the market right now is just wrapped up in this name and everything is seen as a peripheral do this name. >> i think that's a fine pick. >> nothing wrong with that. >> of course you do. of course you do. >> you nailed that one. >> that's -- >> well, thank you. >> i think -- >> karen can do -- >> they didn't pick nvidia. >> devastated. >> what do you think of nvidia? >> mine's a segue, isle'll justt into mine. >> wow. >> you guys can elaborate on both of them at once. mine is the market cap-weighed spx, okay, versus the rsp, which

is the, obviously, the equal weight. and for basically the same reason that you're talking about. it's microsoft, meta, amazon, google, lilly, and it is also jpmorgan. when you think of the top holdings. now, obviously apple is not participating right now, tesla's down 30% or so. but when you think about the market cap weight and you think about the enthusiasm, there really are two megatrends that are kind of wrapped up in that, right? it's obviously generative a.i., but lilly's had massive appreciation. so, at some point, if you look at a ratio chart, you'd see the spy, or the spx, is really pushing it here. and so, it wouldn't take much, to your point, absout sentiment with one name like nvidia. you start saying, well, amazon doesn't really have it great, google hasn't done well, you would start second-guessing all of those. the way that investors second-guess dell, supermicro, and hewlett packard last week. >> so, this is just a concern of

yours. should the gap close -- you think the s&p 500 should fall? >> correct. the s&p 500 is up 30% off the october lows, the rsp is only up 22%. >> it's so hard, though, to say, you know what, i'm not going to own nvidia anymore. if you are in it -- >> yeah, it's hard. i did sell some calls. >> especially after the, you know, the rock star speech yest yesterday, and you've got two new chips, you've got, i don't know, vera, i don't know -- ruben. >> ruben. >> it's a road map. okay? >> i understand, but the road map tells you about $50 trillion in industrial and hard assets, it's the next industrial revolution a.i. style. so, if you think about the industrial companies and this is something that different people on our december whosk, people t come onto our desk, they have become more profitable because of the dynamic with a.i. so, until nvidia, and i realize it could be at almost any day, except for the fact that the entire chip space is, you know, that is the new -- that is the

new commodity space, and they continue to make new highs. so -- karen's probably won the game today. >> well -- >> great chart. >> i think, though, the nvidia calls are really pumped. july 19th, 1,200 went out at $58.66. it has to go to 1258 just to break even. that seems rich to me. we'll see what the stock split does. i have a sense this is sort of up on partially that, i don't know, dan -- >> the one thing i wanted to say about what tim just said about the road map, right, so, we're still on h-100, anybody who is buying the gpus are still talking about that, and now we have a lot of excitement about blackwell, and now, there's additional excitement about ruben in 2026. if you think that it's a straight line from here to 2026, you know what i mean? like, that's -- i just don't see that, right? >> there's high potential for speed bumps ahead, but at the same time, when they guided higher on q-2, it was on the old chip. the difference in the --

>> but the transition, mel. so, the transition of this, and if tim started off by saying the xly and consumer spending. you said the consumer is about to crash. if the consumer is about to crash -- >> dan's trying to paint me into a corner here with the nvidia argument. i'm until the corner. >> it starts with the consumer, right? then corporations start cutting costs again, that means head count reduction, that means all of these companies, all the things, they start losing licenses from heads, right? they pull back on r&d and capex and all that stuff, and you have a downward psychcycle in enterp spending. i listen to jensen huang, i saw what he said. there was a lot of word salad in there. i'll get the quotes from it. he was talking about ceo math, all this sort of stuff, and 98% cost reductions and 97% energy reduction. it sounds like nonsense. >> here's my question. can you have a world where enterprise spend gets cut back or whatever, a period of

austerity comes, and companies still spend on relative basis more on a.i. than other parts? of course. >> the continued pressure on the crms, which we've already heard about from earnings, right? so, they are defensive. >> no, there will be pricing pressure. it just will be. you're going to have all the other folks coming into the market that are going to compete on price. again, if you guys think it's a straight line from here to there, because of this -- >> i don't know who said straight line. i talked about what i heard yesterday was recognizing a new addressable market from where this could go for industries where physics are a big part of kind of where the revolution will come. so -- look, the issue with nvidia is that it's doubled every, you know, it doubles every six months. that's the problem. their earnings are keeping pace with it for now. we all know it can't grow at this pace. to say that it's the most important stock in the market, we do that all the time. we know what it is. but semis right not as a group have not shown they're ready to

break down. >> the old saying, your margins are our opportunity type, and that's going -- at some point, that -- i understand they have a huge held start, nvidia, but my sense is, companies will start to close the gap. i think faster than the market anticipates, and those 77% margins or so -- you know, enjoy it while it lasts, because i don't think it's going to stay here for very much longer. treasury yields continuing to slide today, with the ten-year hitting its lowest level since early april. the latest move coming as investors await friday's job's report. for answers, we bring in the man with lots of charts, the chart master, carter braxton worth. hey, carter. >> hi. yeah, i mean -- look, i'm in the lower rates camp, and yet, maybe there's no camp to be in. before we look at the charts, the truth is, higher hasn't happened, lower hasn't happened. we're just stuck here in the mid fours. this chart that you see on the screen, we're right now exactly where we. >> reporter: in october of 2022, that's 20 months ago.

at that point, we had just spiked from 2.5% to 4.3%, in three months, and higher for longer became a mantra. but it's not been higher for longer. it's been no change. and so, the question is, ultimately, i think we're in the peaking process. these lines would suggest to my eye that we're going to break trend. let's look at a few more iterations. it's all the same chart, one after another. if you look at the next one, you'll see here that 20 months, despite that slight blip above 5%, interest rates are not higher. not on the ten-year, and just no way around that. and it's a good lesson for all of us when something becomes a mantra to typically consider it suspect. let's keep going. next chart, and they're all the same, it's the same time frame, but just drawn a different way. the down arrow is a judgemjudge that's mine. a lot of people pushed back on the note, say, when the buyers step away, the chinese, the japanese, the federal government, we're going to have a big problem -- i can't speak to that, but my hunch is lower.

let's keep going. i think i've got one or two more ways to draw the lines. here, it's all the same chart. we broke that minor trend that you see today, again, 4.32%, lower than where we. >> reporter: were in october 2022. it's june 2024. it's all the same chart, it's just different ways to depict the situation. falling back below that horizontal line is not good, if one is bullish of yields or thinking yields are going hugher. maybe one more, i guess there is, and that's it. so, i think we break this formation. i'm a buyer of long-dated treasuries. >> hey, carter. it's karen. >> hi. >> so, if we break that line, where do you think the next stop is? >> well, see, that might be the seduction. one could say, well, you're thinking 2%, 3.25%? it -- it's very possible that the whole rate conversation,

right, isn't productive in the sense that maybe this is the proper level for ten-year treasuries, and that the work of -- of cap-m and discounted cash flow should disregard this, and the securities analysts go back to the job of trying to figure out two to three-year future cash flow, and discounting and putting a price target and not extrapolating. 7% on the ten-year, 3% on the ten-year, because it turns out the ten-year is the same level it was two years ago. taos h as to how much lower, i think the high threes. >> carter, it's tim. it's hard to argue, especially if we get some of the economic turnaround, that rates aren't going to come lower. and i do think there's the setup of less central bank buying. how can you argue that rates haven't gone higher since july of 2020? and i realize you can pick spots since, you know -- >> sure. >> you can find spots in october of '22, back in '22, i'm picking

a spot, too, i'm finding the low spot and -- but i can draw a trend line, all the way that has not been violated from july of 2020, so, i don't want to get here and try to get out there and die on the hill of i think rates have to go over 5% tomorrow, but i think rates have consistently crept higher, with periods of a lot of volatility. >> well, they have. we know from the low of covid, when the cost of ten-year money was almost zero, we're up 5x from those levels. but the point of this exercise, that spike high in october of 2022, we essentially went from 2.5 to 4.5. that was the low for the market. the s&p was down 27%, the nasdaq was down 37%. higher for longer became, oh, if we just went from 2.5% to 4.5%, what about 6.5%? rates really are not

meaningfully higher. yes, over the past three, five years they are, but there's no way around this, is ten-year money at 4.5%, is that a -- a bad thing? is that a bad thing for valuation? of course it's not. in any other era, that would be considered nirvana. >> all right, carter, thank you. carter braxton worth, the chart master. we've got an earnings alert on hp enterprise. shares ripping higher on a top and bottom line beat, powered by demand for a.i. servers. the company's personal systems business seeing growth for the first time in eight quarters. the afterhours gains bring the stock to their highest level since march, up by 13.5%. little bit different from what we saw from dell. >> yes. a little bit different. also, more enterprise, as well. so, i mean, this one not yet , but better from dell. i looked at it more on dell, and i do think they're going to work

through it, but definitely more compression on margin than i would look. >> a huge gap after a big run. gave most of it back over the next couple of days or so, so again, i think these are kind of hard things to buy on the breakouts here, because i think there's not a heck of a lot of confidence. maybe for the current quarter, but beyond that. >> reasonable on valuation, i think the full year guide might disappoint people a little, if you look at the magnitude of the beat and the subsequent guide. with that said, if we can do a longer-term chart, 2018, we were at basically 20 bucks. right up against a prior high. so, be interesting to see tomorrow if we break out or if it fails at this prior level. another news alert here on new york community bank. changes to the board. contessa brewer has the details. contessa? >> melissa, another twist in the drama that is new york community bank this year. the parent company of flag star bank announced a change in the executive chairman of the board, alessandro dinello is out.

joseph otting will take on the chr role. dinello will stay on as director and adviser to otting. he briefly served as ceo from february 23rd through april 1st after moody's downgraded nycb to junk territory. last year, it acquired signature bank, got hit in the commercial real estate book, and the company hit with a slew of analyst downgrades. shares are off 69% year to date, and now will have the ceo coming on to take over the chairman role, melissa. >> all right, contessa, thank you. contessa brewer. karen, you are still in this? >> i am. i am. i just view this -- not so much, i mean, this was the -- i believe this was the ceo for which that other guy from the board resigned and said -- well, you know, i'm not certain that was him, i don't think this is a big deal. i think this is who mnuchin wants to be in the chairman

role. >> so, maybe my kre thing wasn't that far offbase there. you want to reassess your karen wins thing or no? >> you mean in terms of -- >> this is all -- this is kre and new york communitien baing, all this regional bank stuff, still cropping up. no, karen wins? >> this is a minor -- >> minor -- stories -- >> it's not -- i think the whole nycb thing is now an option with life, and when you have life and you have volatility on a relatively big book, good things can happen or you can lose all your money. >> exactly. coming p, lulu lowdown. shares in downward dog as investors brace for earnings tomorrow. plus, markets in india reversing after yesterday's big win. what the election results in that country could mean for stocks. don't go anywhere. "fast money" is ba itwckn o.

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welcome back to "fast money." lulu shares trading near 52-week lows as the retailer geer er geo report earnings tomorrow. other retailers under pressure as well, lately. macy's, dollar gen, names well in the red today. to tim's point, maybe the consumer is under some duress, guy, or are these just examples

of where the weakness are, because there are other retailers that are doing okay. >> in some cases, it's a tale on the consumer, tim's pointed this out, lululemon, when that growth stops, and we've seen this with all kinds of specialty retailers over the years, that's when things go really bad. an analyst thinks a potential bear case is $150. i think the base case is $240 or so. it's hard to argue with that, given some of the margin contraction we've seen and some of the growth basically retraction, or just growth slowdown that we've seen. with that said, walmart works here, without question. and even costco, at some point on the back of the selloff of the earnings release, is going to work, as well. >> taking stock of q-1 earnings season, some of the guidance, i feel like, maybe this is purely anecdotal, i know you listen to a lot of calls, i feel like i heard the consumer is resilient a lot more than i heard that the consumer is weakening, you know

what i mean? >> from you? i find this surprising. >> we're talking about the calls. >> oh. >> talking about all the conference calls. again and again, we heard it from the money center banks, from a lot of the big box guys, you know, and maybe some of them had some other issues, i mean, it's not things that we're hearing about from lulu or my k n nike, maybe that's more specific to the price point. i'm just saying, until the consumer roms srolls over, tim >> crashes? what did we say? >> it's not we. it was you. >> yeah, well, part of the issue for lulu is lulu. and lulu's got a competitive dynamic out there, they -- they're at peak margin, they're in a place where you can make an argument that also you've seen some of the best of at least that u.s. saturation. they have to look to other markets, if they're going to be hurt by the shift of wide leg bottoms. >> you missed the trend. >> i think the story here, and

this is the story i would stretch across decekrcross disc. yes, i think the consumer is running out of gags. walmart, by the way, behaves like a tech stock. they're up 35%, they're a story of a company that's invested in technology. lulu is a story where the margins are coming down. and that's really the story, i think, if that's across december krigs near, we'll see. i think there's pressure. >> there is pressure. i mean, but -- looking at the price to earnings ratio of lulu, which i didn't think would be here, which is now 21 and change. >> are you getting -- >> i am getting tempted. so, i don't -- you know, they do report tomorrow afternoon, so, i don't really have a strong feeling about how they're going to do on earnings tomorrow. we've all heard about pressure on the consumer, but also, competitive pressures that they haven't faced before. probably not inat le athleta.

but i feel like this deserves a premium multiple, right? we know they've had some stumbles, but i do -- i actually think it's interesting. there's a lot more "fast money" to come. here's what's coming up next. a big reversal in indian markets, as a narrow election win causes stocks to sell off. what the tight results could mean for policy in the country, and your investments abroad. plus, the weight loss drug space is surging, and as popularity grows, so do shortages. how one company is helping customers track supply. you're watching "fast money," live from the nasdaq market site in times square. we're back right after this.

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welcome back to "fast money." the india etf reversing course after hitting an all-time high yesterday. the pull back coming as election data shows tnarendra modi's majority may not be as long as it looked based on monday exit polls. investment reforms may now make much more work. he has to get the votes of

allies onboard. >> there's going to have to be more populist spending. modi's said, we're going to get you inside the 5.6 deficit on the budget to gdp, and it's been a story of market reform. so, if you've been investing in india, it's been one of the great stories, it's -- since march of '23, it's up 42%, 43%, it's been grinding higher. what china used to be you are not getting 8% out of china. and that's the story. it's not cheap. you know, it's a case where i think you have opportunities here. the second-largest position in my etf, i actually think this is a story where you want to buy growth. you want to overpay for stories that are working, especially in emerging markets. this pull-back doesn't really concern me, buzz this is what you get with emerging markets, and this is the day after mexico, we heard that sheinbaum has a crazy majority that could allow her to push through the type of, you know, call it populist spending that would concern investors, and you see

how quickly things can change. india is not changing overnight. it's not cheap, there's pull-back for a chance to take profits, but i would put money behind modi. >> the reasons he didn't get the majority, because of the underlying issue, poverty, high unemployment, are those things going to drop tdown the growth prospects for india? >> seemingly they could. you know, these populist issues exist in every country in the world. inflation's higher. there's a lot more, you know, there's a lot more stretch. weaker oil prices, these are things that are great for india. they have more inflationary problems than probably any other economy of this size. >> how are you feeling about getting rid of some of your mexico yesterday? >> i didn't want to be that long, because i'm not very comfortable with what this is going to be. to me, this changes the game for awhile. coming up, tracking tre

seven tide. how one company is helping customers find their weight loss drugs. we've got the details next. and a tug of war on tesla. analysts out with conflicting calls on the ev maker. if you should stay plug into the name. "fast money" is back in two. missed a moment of "fast?" catch us any time on the go. follow the "fast money" podcast. we're back right after this. what is cirkul? cirkul is the fuel you need to take flight. cirkul is the

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welcome back. stocks closing in the green today, with the dow jumping 140 points. the s&p and nasdaq squeezing out small gains, as well. crowdstrike shares higher after a beat on the top and bottom line. the company raising q-2 revenue and eps guidance. stock is up 7%. a shortage of the popular weight loss drugs drag on. one company is out with a new tool. r ro's glp supply tracker launched last week. anyone can find the drug in real time. patients set up alerts to find out when doses become available in their area. joining us for more is zach ritano, cofounder and ceo of ro.

welcome to "fast money." >> thank you for having me. >> so, is this crowd sourced? >> it is. the tool does two very specific things. the first is that it lets patients crowd source supply by sharing where they found it and it will notify any patient who said they need supply within 100 miles in real time. second thing is it lets patients report shortages to the fda in 30 seconds or less. in the less week, we've had over 25,000 -- 25,000 submissions of shortages. we've had well over 1,000 people report supply, so, we are able to notify patients across the country to increase access to these drugs and help navigate the shortages. >> is this only reporting shortages of name brand glp-1 drugs? >> right. the drug, dose, that they need and the zip code, and patients will report the pharmacy that they found that drug in, and we will notify patient with the pharmacy name, link, phone number. >> does this help the fda track

how deep the shortage is and keep them on the shortage list so they can be compounded? >> the -- i think the main intention with this, and we've been in touch with the agency and they've been very receptive to sharing information in real time, because their main goal is just that what the patients experience in real time on the ground is -- mirrors their list. so, that is what they've been concerned about. both by talking to manufacturers, by talking to companies like ro, and so, the more real time data we can give them, the better off they are. >> lilly and novo. there are differences in terms of how they deal with supply issues. >> i think what you see is the way that they're dealing with the shortage is representative of the strategies, too. what they're doing similarly is, they are both investing in ramping up the supply chain. but in terms of differently, you see novo, it's choking early doses. it's harder to start, but easier to maintain for people on the higher doses. lilly, it's easier to start, but

the higher doser aren't, so, it's easier to start, but harder to continue. so, you do see that, you also see lilly getting approved single dose vials. they are taking different strategies here. >> obviously, these were diabetes drugs and they moved into obesity. and you have spent a lot of time destigmatizing the obesity aspect of it. how are you thinking about this? we are reporting, i guess, every day, on, like, different potential use cases what are you most excited away from obesity? >> i think they are, to your point, they haven't just x drugs, they're not just diabetes drugs, they are not just obesity drugs, they are being studies for depression, addiction, so, i think the really fascinating thing is, we've been looking for a place whor a universal wedge r consumer health care. and you'll see glp-1s serve as the sun around which all other care will orbit.

the stigma, to your point, the real impact that the stigma has is on those less fortunate, because that impacts perception, going to impact employer coverage, government coverage, payer coverage, where as those with means, day are sort of unperturbed by the stigma and will pay for it. >> hims and hers, they are going to offer compounded glp-1s through their site. you got to be thinking about going public. >> glp-1 adjacent, just like a.i. adjacent gets huge multiple. glp-1 adjacent should, too. >> right now, just providing as many options as possible. and there will be a time, but right now is just helping our patients. >> good answer. >> good answer. you better come back to "fast." >> always. always. >> all right, zach, good to see you, thank you. >> thank you so much. >> i mean, this really just underscores the notion that you can't find these things and there's more demand than supply

out there. >> i know, i mean -- as you said, he also said it, there's just more and more applications for it, it's so -- we haven't even seen yet where it could be, i think we -- a couple of months ago, $80 billion and now we're hearing 1$120 billion. >> yeah, better understanding, that mismatch between supply and demand really gives the analyst community a chance to get their numbers right. and that's just where we are and the use cases we have. fascinating. coming up, a tale of two tesla calls. at odds over where the ev maker stock is going next. who has it right? we'll debate that next. plus, roaring kitty showing his cards. the meme stock general revealing his position in gamestop, but did he just overplay his hand? the action from the options tspi and beyond after this. and beyond after this. "fast money" is back in two.tes just start with a domain, a few clicks, and you're in business. make now the future at godaddy.com/airo

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♪♪ sandals jamaica sale is now on! with rates from $199 per person per night. visit sandals.com or call 1-800-sandals welcome back to "fast money." two tesla calls today laying out very different takes on the ev maker. gugen him reiterating its sell rating. the firm saying tesla's, quote, increasingly an investment undermined by autonomy, which requires investors to buy into the future that has limited supporting evidence. on the other hand, piper sandler

sticking with its overweight rating and $205 price target. analysts noting they are looking beyond the june annual meeting, and while they are cutting their forecast for deliveries, they like the focus on a.i. and raised their margin forecast. the stock is down 1% today, 30% this year. i feel like everybody here is with gugen him on this one. >> actually, i think they both can be right. we've seen rallies of that mag any feud from $175 to $205, that's nothing in sort of the context of what the stock has done for three years. it doesn't mean it's necessarily bullish, but we have seen basically bounces off lows a number of times. maybe we just saw it recently when it went from $145 or so to $200. i do favor the downside overall, because for the last 3 1/2, 4 years, this has made a series of lower highs and lower lows. >> i wouldn't short it, though.

i mean, i feel like there's asimia asymmetric risk. if the margins are anywhere close, i think you'll see an enormous pop in the stock. all the other noise around elon, the pay package, the chips, where do they go, all of that is just noise, maybe it drifts lower on that. but the risk/reward toward shorting it, i wouldn't do it. >> i don't know if it's just noise. i realize elon is the great grandstander he is, barnum & bailey, all of that wrapped up into one, saying, i don't really want to throw any of, you know, my resources -- and i'm not talking about the chips, unless i have 25%, i'm not going to focus on a place -- i'm going to put my a.i. and my robotics capabilities other places. this is why you own -- even before we were talking about a.i. every other second this was why you owned tesla. when you hear this from the ceo, it has to be concerned. it shouldn't trade at this multiple.

doesn't mean they're going out of business. fsd is very important. it's just not worth this amount of money. >> all right, coming up, gamestoping. shares falling 4% today. we'll get the read on what is ahead fothe ocr stk from the options pit. more "fast money" in two. [ a.i. copilot ] glad you called, j. [ a.i. copilot ] it's time for an upgrade. awesome. ♪ ♪ [ inner monologue ] i knew what i had to do. because they never stop. no time to waste. this isn't sci-fi. this is precision ai. ♪ ♪

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we've got a news alert on the wireless outages effecting some customers. let's get back to contessa brewer with the latest. >> which, you know, is practically everybody. we have a statement now from the fcc on x, and they posted, we're aware of multiple states are unable to make wireless calls, and we are investigating. apparently there's been some hiccup between the ability of customers to make calls between carriers like, if you are calling from verizon phone to an at&t phone or an at&t phone to a t-mobile phone. at&t said there is an issue. the carriers are working to try to resolve the problem as quickly as possible. to diagnose it, as well. but we aren't sure who is the problem carrier here.

all i know is that this afternoon, multiple times, i've tried to use my phone and either i can't dial out or the call comes in and then it disappears. it's a problem for everybody, so, i'm just glad i was able to join us on "fast money." >> we are, too, contessa, thank you. contessa brewer. >> maybe that's why my phone didn't go off during the show. >> there's still time. >> exactly. >> maybe they'll fix it. >> all right, meantime, gamestop shares a leg lower today, but still up more than 18% this week. the latest stock moves coming after keith gill, aka roaring kitty, started posting screenshots this week showing a substantial stake in the company. the most recent post showing a position of 5 million shares worth $140 million. and perhaps more interestingly, 120,000 $20 call options. he was up 26% on those calls. but has he overplayed his hand?

mike khouw has the answer to that question what . mike what did you see in the options pits? >> if you look at that account, one of the things you would recognize is that he has about $30 million in cash, and 120,000 calls represents 12 million shares of stock. times the $20 strike price, that's $240 million of funding. now, the 30 million will certainly help take care of some of that, but it isn't sufficient to exercise all of those calls if the securities aren't marginable at e-trade, so he's either going to have to sell some of those calls or sell all of his stock and then some, potentially going short against those calls, sometime between now and june 21st, unless keith gill happens to have another couple hundred million dollars lying around that we're not seeing in some other account that he can transfer in to deal with that funding issue. if you take a look at how much he has, how many of those calls he would have to sell, if that's the only thing he was going to sell. the more of them he would have

to sell to fund exercising the ones that he has not sold. and so, interestingly, he's gotten himself into a little bit -- by tipping his hand, he's in a negative position, but he could just be encouraging others to rush in, buy the stock, short the stock and do nothing with those calls and then just have the whole position take care of itself on june 21st. we'll see. >> yeah. and of course, as you mentioned, we don't know what his full position is. he showed one screenshot and who knows how much money he has on other platforms. mike, thank you for liking into this. what do you make of all this? >> mike's the man. listen, depending upon how convicted he is and how much capital he really has, he could roll them up and out. he could say, i want to roll these 120s, i want 30-strike calls, that sort of thing. i mean, there's lots of things he can do. i just think, again, we don't know what he's doing and -- >> yeah. what do you think he's doing?

no good, i think. >> i think it's extraordinary. i'm not really sure why you want to be long the stock. >> all right. up next, final trades. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

time for the final trade. tim? >> some pull-back in gold, therefore gold miners today. i think that gdx is weakness to buy. >> karen? >> yeah, i looked at my bank position. i didn't want to change how much i had in banks, so, i had to switch. i went to more citi bank, we'll see in five weeks when they report. >> dan? >> yeah, carter had a great chart on verizon. it's about to break out of a big

downtrend. and also, to a woman who has about missed a show that i've been on for 15 years, happy birthday, mary jean nathan. >> would have been a happy game seven, but -- >> guy? >> walmart, melissa lee. >> thank you for watching "fast money." join us backere hat 5:00 tomorrow. 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. my job is to educate so call me 1-800-743-cnbc or tweet me @jimcramer.