you guys said i looked like rick perry. >> i don't know. you could come up with somebody a little closer than clark kent. >> i take that as a compliment, kind of like you and the "mad men" guy >> we'll have to talk about that one later. >> thank you, guys have a wonderful weekend that does it for "closing bell." "fast money" begins right now. "fast money" starts right now. live from the nasdaq market site overlooking new york city's times square i'm melissa lee. tonight on "fast," general electric's moment of truth coming next week, an investor meeting on monday. we'll tell you why the worst is over a biotech beat down, nearing correction territory and later, bitcoin's wild ride in search for record highs but down 7% today.

we start off with alibaba's largest shopping today in the world, last year they grossed $18 billion. eunice yoon is in the middle of the action in shanghai, hi, union i eunice >> reporter: this number could go as high as $24 billion after this whole 24-hour period ends singles day, as you know, started as this anti-valentine's day, for lonely hearts but 2009, alibaba transformed it into this shopping extravaganza, inviting a-listers like nicole kidman to come to the festivities. it was really unprecedented so far this year, 60,000 international brands in total, 7,000 american ones.

and in terms of which american companies are turning out to be the bestsellers, apple, nike, new balance, the gap, and estée lauder also the u.s. so far is the second bestselling country to chinese consumers. now, all the talk is not only about sales but alibaba's initiatives to try to transform the whole retail landscape alibaba believes the chinese consumer is about to change the way they shop. that's one of the reasons why alibaba wants to leverage their technology as well as their online platforms and users and integrate it into physical stores we saw over the past year or so, alibaba investing $8 billion into malls, department stores, as well as supermarket chains. and it's a supermarket chain that alibaba has been holding up as this potential shining light of what the future for retail

could be here. the supermarket chain is called koma, sort of like this chinese version of a high tech whole foods. and the idea behind it is that chinese shoppers would go into the supermarket and use their mobile phones to scan products, get more information about them, and also then place orders online, eventually getting deliveries within 30 minutes or they could put groceries back into their baskets and at the end of the process get scanned and that's how they pay. what's interesting is the way alibaba through their physical stores will be pricing all of this, because they want to standardize the pricing for online and offline, which is quite interesting, considering department stores and supermarket chains are very expensive to run i asked the alibaba pr about

this they said they believe in the long term vision and that this is a long term investment for them >> eunice, thank you eunice yoon in shanghai. the stock is up this year, this is a $5 billion company about the size of facebook do you keep betting on baba, tim? >> you absolutely do for all these people who missed this trade, you're broken ha hearted. this stock has outperformed most stocks, it's outperformed amazon, trades at a single multiple they may mix in some offline too, what you heard eunice saying is their business model is going the road of amazon, they do have an offline presence where there is a retail physical presence in addition to the international. trades at 1.5 times pe ratio, significantly cheaper thatten big tech names here.

>> especially amazon >> baba's incremental margin, this marketplace model, the incremental margin is massive. the opportunity for them is massive. this company definitely has legs, up 110% year to date or not. the total addressable market, the competition is less. i can make an argument that at 22 times ebitda next year, i would rather own baba over amazon >> you've got to like any company that can essentially take a made-up holiday and turn it into a management billion dollar -- >> like amazon >> like amazon >> prime day >> prime day's a copy cat. >> total copy cat. >> if anybody tells me bitcoin has problems, come on, it's a made up holiday, prime day, this day, all of it good for them to do it i still like the stock i actually probably yield valuation wise clearly as tim points out you want to own this more the amazon of china, why wouldn't you want to own that? >> we all seem to be in accord

here it's a good night to be in unison, everybody is happy so let me play devil's advocate for a second >> you sound scorned >> i'm not scorned, i'm just throwing it out there. you know it, i've said it a number of times aren, the next buy something online will be the first time i have not visited the alibaba website, comes as no surprise. if they're kicking it like they seem to be, then why do they trade at such a discount to a company like amazon? i'm not suggesting it should be there. but the multiples should be higher i would submit, and tim can push back on this, maybe people are concerned that there's a -- potentially a counterfeit market in china, right, potentially >> yes >> that they are going to have to -- "they" being alibaba will have to deal with. >> lack of transparency on their balance sheet, inflated gross. >> actually their acknowledgement of this, their interest in rooting this out is

something they're getting heat for. bottom line is china has never been a bastion of protection of intellectual property, trump has been talking about this aggressively while he's been in asia, he's right not only is a lot of this stuff counterfeit but big brother in china is at some point going to derail them because they don't really like what they're doing the government lets them do it >> if you look at institutional holders in the u.s. and say, would you buy baba, they would love to buy baba, they just can't because of their mandate it's an absolutely either a trust issue or structural issue with the investment funds. in general, you're right, i think the stock here, you're right, it's a discount, mel. this is a lay-up buy in my opinion. >> but that's a problem if institutional buyers can't buy it >> etfs specifically dedicated to china, i know one dedicated house that's there

they'll start to build up more and more as you get more and more investment through, those types of vehicles, i think that b baba -- >> this is third point's largest holding right now. >> certain funds, i'm saying, not all institutional investors. certain funds cannot invest. it's a trust issue, a mandate. >> it's not like this is an anti-esg play. this is a company, you either get comfortable with corporate governance, get comfortable with the lack of transparency, or stay away. this stock sits on the overweight list of some of the biggest hedge funds in the world not only because of the growth but because they can own it, they can put on a 40, 50, $100 million position there's liquidity there. i hear what you're saying. i think there's some nervousness in that the company has had a great run. i will say i think the company before this september, a quarter where they knocked the ball out of the park, they guided down expectations i think expectations are lower >> news alert on as bro ahasbrod

mattel, let's get to morgan brennan in the newsroom. >> reporter: hasbro has made a takeover approach to mattel. mattel has a $5 billion market cap value, hasbro is about $11 billion. if this sounds familiar, we've heard these talks about talks before back in february of 2016, cnbc's david faber recorded tported thd discussed a merger back then but talks had stalled. according to this new report, hasbro has approached mattel again. shares of mattel are down more than 45% this year whereas hasbro is higher hasbro makes play-doh and nerf they're up 21% in afterhours trading. >> thank you, morgan brennan in the newsroom let's bring in dennis berman, financial editor at "the wall

street journal." dennis, one of your reporters broke this story, so you're the perfect person to have on. the toy industry has obviously had some problems. what role did the bankruptcy of toys "r" us play >> the toys "r" us bankruptcy is the leading indicator that kids don't want toys. they want mommy and daddy's phone. if you're looking at the behavior, moving to an online environment, toys "r" us is the canary in the coal mine. it seems inevitable it will be some combination i was here to talk about bitcoin but we had to switch to this because it was such interesting and important news >> what is the willingness here? do we have ceos who are of age who want to sell this company? >> i like that term. the story is that the approach was made from hasbro to mattel if you look at the two companies, they've really diverged in the last year or so. hasbro has gotten more valuable

than mattel. i think mattel brought on someone from google. if that says anything about the world, there's a google person >> so mattel has been a turnaround story in reverse. there's a supposedly a technological angle. >> how are you feeling now >> good, although at 22 bucks i thought the stock was cheap when it was trading roughly 20% cheaper than five-year average this is the question what's the multiple in the sector and do you think these guys -- does one plus one equal three? >> probably not, it's lucky to equal 2 1/2. what would you put on toys "r" us >> 5 1/2 you could get up to eight or nine they have brands at mattel, barbie, things that ultimately i think have content ability to be sold up the scale. >> but then they're squeezed by these licensing deals, squeezed by cheap imports from china on

the other. the ability to make a buck in that business, in that environment is maybe, you know, four to five times -- >> what about other suitors? i can't think of necessarily anybody, but are other people approaching mattel here, will we have a bidding war >> it's a perfect right question i don't think the answer there's got to be four or five chinese companies we've never heard of that are interested >> we're treating this myopically >> you want to throw disney in the mix? they seem to be on the shopping spree. i throw this out to your one plus one equals three, the combination of these two symbols gets you hazmat, think about that >> wow >> that's very clever.

>> it is clever. about toys "r" us, if toys "r" us was so integral to our business, we would have saved them, that's what we're hearing from the other companies they won't be as open for business as you wanted them to be it is absolutely right, toys "r" us is representative of a secular problem. >> amazon controls toys. >> i can buy barbie through amazon and i do all the time. >> you do have a daughter. dennis, thank you. >> we'll keep you posted >> dennis berman of "the wall street journal." so you are long mattel what do you do here? say good riddance, i'm out >> the bottom line is mattel has disappointed people. when they came out with these numbers they said, we're nowhere near a forecasts then the stock overtrades to the downside remember, they pulled the

dividend or they cut it substantially. this was at one point a 7% dividend stock and a place people could hide out and say, look, their balance sheet didn't terrible their balance sheet isn't terrible, but they're trying to cut costs. i stay in this name right now. >> i totally agree that the costs in this model are crazy. there's no way for them to really execute and make money efficiently. i say there's no way i touch any of these names i look at technology names coming up, the big box retailers, home depot, target, all on track for earnings next week the one name traders say is a screaming buy. and bitcoin surging before crashing in the last two days. why are millenials eager to buy it roku up a staggering 80% this week. if you missed the run, don't worry, we have a way to buy it for less much more "fast ne aer ismoy"ft something.

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welcome back to "fast money. take a look at bitcoin, down about 7% this week after plunging from all-time highs on wednesday, dom chu is in the newsroom breaking down what's behind bitcoin's wild ride >> reporter: melissa, i want to say it's a been a roller coaster ride but the reality is it's been a straight shot higher over the last few weeks especially in places like bitcoin. until the last few days, that's what we saw. the last few days were pretty rough. we saw record highs for bitcoin earlier this week pushing to

just shy of $7900. since then, dropped by a thousand bucks in two days the sharp move towards record highs happened on the heels of reports that some of the key people in the bitcoin ecosystem decided not to go ahead with a software update that would have created an offshoot or fork, kind of like the creation of bitcoin cash and bitcoin gold. the intention was to try and increase apacity, speed up transaction times, also decrease costs. the problem was a lot of developers working around bitcoin came out opposed to it after those plans were scrapped for the upgrade, it brought some more clarity to the situation and hence the move higher in bitcoin. add on to that the plans for the cme to introduce bitcoin futures and there's a bullish case for why the prices go higher the last couple of days should be a pointed reminder of how quickly things can turn in a very momentum driven trade fine-tune your risk management tools. there are those who believe still that there is a need for that software update to happen

so melissa, if you're an investor in crypto, especially in bitcoin, better stay on top of those headlines back over to you >> thank you very much, dom. our resident expert in bitcoin investing, bk. the sec chairman i think just two days ago came out and said maybe the sec should look into regulating icos or initial coin operating. >> it was almost going to be like a special dividend. a lot of investors were buying bitcoin to get this special dividend when that was canceled, in a sense, everybody said, you know what, i'm going to sell behavior i bought to get the special dividend and i'm going to go into other crypto currencies like bitcoin cash. >> and that would be my question i think a better tell for the entire crypto space is, what do the other coins do this week if in fact this was a bitcoin specific event and did some outperform it and have a great week >> that's a great question bitcoin cash, for example, which is an offshoot of bitcoin, was up almost 50% today, put about

$5 billion worth of market cap on just today. a lot of the money that's in the ecosystem, and again, i think the best way to do it is to make a bet on the entire ecosystem. all of those other coins shot up this week. still ahead, a number of the big box retailers reporting earnings this week there's one name the traders see taking off we'll tell you what that is. i'm melissa lee, you're watching "fast money" on cnbc, first in business worldwide meantime, here's what else is coming up on "fast." >> ge's big moment is monday when it kicks off its shareholder meeting. we'll tell you how to profit plus talk about a drug bust. >> this is a raid! >> not that kind of bust talking about the performance of biotech and big pharma but one of our traders is buying the dip. he'll tell us the name when "fast money" returns for your heart...

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welcome back to "fast money. time for a major buzzkill, biotech getting crushed after big earnings busts the ibb tumbling 9% from its high, with names like celgene and gilead dragging it down. >> i was wrong for the last month, month and a half, i have to put that out there. number two, celgene to me made the first mistake they've made in the ten or 11 years we've been doing the show. celgene traded to levels it held last year, 98 1/2, 99, back to

100, maybe that stock looks interesting though the ibb, although it's sold off significantly, it's still in a significant up trend to answer your question, yes >> i agree i would buy the ibb. i know i defend it all the time. you're going to see the day when big cap pharma comes in and makes significant acquisitions to put some juice behind this group. >> we saw that, and it didn't last >> gilead is one, people saw that as an all clear sign for things to happen you're going to see multiples. you need to see big combining. you'll see it. i believe you're going to see it >> we've been waiting for this forever. >> i know. that's what's holding back right now. >> but what are any waiting for? >> don't know the answer to that that's the question. >> that's the problem. >> there's a lot of egg on a lot of faces on this desk over this, certainly some here. we have very good balance sheets, very good multiples, and companies that are far from out of business. >> tomorrow is officially

veterans day, a significant holiday not only to us but also to our next guest who raises money to help disabled army rangers and the families of those killed in the line of duty jim regan's son jimmy was killed while serving in afghanistan jim is holding a special event this sunday that our very own bk is running and dan will attempt to run it as well, it's always great to see you, welcome back to "fast money." >> thank you for having us back. >> i don't know how many years you've been coming on, but this event is growing and growing >> it's ten years since jimmy was killed, and it has grown we'll be down on sunday morning at pier 45 at 9:45, about 6 to 700 people will be down. we're going to do rundown heroes highway, down battery park and back it's a very patriotic event, i would love for your viewers to be there we go into the chelsea piers area, the lighthouse, we have a brunch from there we have a gold star memorial, we're honoring two wonderful rangers that have lost

their lives a few years back and i'll tell you what, it's great, it's a great event for the kids it shows them something, what it takes. and the sacrifice that gold star parents make with their kids >> do you have a goal in terms of fundraising because each dollar is important in helping these rangers and helping their families >> we would love to raise $100,000 at this event, we really would love it we've gotten close in previous years. who knows? >> maybe this year is the year, right, bk? >> it's a great organization, leadthewayfund.org there's a picture of us in our younger days we'll be running the whole thing. i'll be running the whole thing, we'll see what dan does. >> thank you so much for coming by >> thanks for having me, have a nice holiday and thanksgiving. >> happy veterans day. time for the final trade tim? >> final trade, final trade, baba, we talked all about it, what a great company

>> foot locker, selling it here aggressively >> i think you buy mattel on this news, there's going to be other suitors. >> we have two other vets, dan nathan's dad, mr. crum, thank you, gentlemen, for your service. >> happy veterans day. "options action" up next but some people still like cable. just like some people like banging their head on a low ceiling. drinking spoiled milk. camping in poison ivy. getting a papercut. and having their arm trapped in a vending machine. but for everyone else, there's directv. for #1 rated customer satisfaction over cable switch to directv. call 1-800-directv.

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going to college... buying a home... and not being in debt for it for the rest of our lives. but we're only as strong as our community. who inspires and pushes us to go further than we could ever go alone. sofi. get there sooner. hi there, we're live at the nasdaq market site on this chilly friday afternoon. look who stuck around. guy and the crew are getting ready. here's what's coming up on the show my fellow americans, our long national nightmare is over. >> that's what investors hope is the case with struggling shares of general electric. and they might get their wish come monday. we'll explain why. plus -- >> the walmart price >> -- just hit an all-time high.