we're starting around and that's the rule that will continue for a while. the s&p got back into a zone that has capped. >> it very good, thank you, michael, see you tomorrow someti sometime that's it for "closing bell. "fast money" begins right now. we start live from the nasdaq market site overlooking times square i'm scott walker in for melissa lee. tonight on fast, boyne breitcoig 40% in the last month but there's another cryptocurrency everyone is talking about. we'll tell who what it is and what has everyone so excited one of the biggest and most controversial media voices on the stretch, rich greenfield is here and he says get this, disney can beat netflix, we'll

start with the markets and your mission, should you choose to accept it, buy stocks in the face of rising rates, trade war and a number of major global indices incorrection and that's what investors did today the s&p and nasdaq higher by a percent so what has changed since last week, tim we begin with you. >> the interesting thing two days in a row, markets rally when states rally and yet the anxiety we were feeling before that was all about rates so if you look at the stocks that have been outperforming, it's the ones that are arguably more immune to interest rate pressure so look at the semis, you see intel, you see ismh, all near all time highs and then you see some of the banks back to big day for

financials and breaks. >> i think what turned the market is ryan coming out against this and that there would be a much bigger discussion and pushback on trump. for me, i couldn't agree more. i think he's already done enough with tax cuts and with easing regulations. to me, my biggest fear by a lot is this trade war -- >> says he's not backing down, though. >> but last weekend he said this week they would have the details, now they won't have the details for another week, that gives him more time. good for him if he uses this and is able to negotiate a better nafta deal. >> that's why he can't back cown. >> did the market overreact? >> the market can only judge the market in front of it. that means the last headline, it has to quantify how much damage or how much tail winds you're going to get. >> the market games everything, right? >> overshoots, undershoots but i will tell you that the

protection of hitting that 200-day moving average or the lows through february is pretty impressive that we didn't go back and retest those lows but to timmy's point, all correlations seem to be off. you have to ten-year rally and you have utilities leading, you have to market rallying with it. so i think the market is doing a big job of trying to quantity phi all of this which will in the end in my opinion will result in higher markets. >> i don't think the marke overreacted at all it is a dead blow to the administration and equity market if president trump goes through with this. i think tariffs are a bad idea, we're hearing it from ryan you're right, karen, ryan turned the market because the expectation is from the marketplace at least that cooler heads will prevail and it's a tactic, if you will, to negotiate i don't know if that's the case the more you have paul ryan coming out with commentary, he digs his heels in the ground and says he won't budge.

>> but let's be clear. if we hadn't had the market going through five weeks of volatility that it hadn't seen, i don't think markets would have been reacting to this trade deal as much as they were i don't agree at all i think peter navarro told him his place, i think he's the hawk in there, you have a dynamic year where we're at 90% capacity for u.s. makers, forget nafta, this is about midterm elections and swing states the, rust belt. absolutely in my view. >> it's kind of odd, though, that the people that are agreeing with him are once again across the aisle, it's the democrats that are protectionistic on this and this is going to help a lot of their democratic leading states so it is kind of odd where it's actually a victory for president trump with the other side of the aisle. the ones that can't stand him in the same room are actually agreeing on this so in some weird shape or form i wonder if it is a victory for them. >> i think he is so -- he is so

concerned about what the market does he saw that reaction and i think that stunned and then so today to see it down further and to have people come out again to see the market rise, i this i that makes a difference to him. >> the market rallied in the face of him saying i'm -- >> no, he started to back off. he said if we can get a better nafta deal, i'll exclude the countries. >> at 10:00 we went from -- >> he said i don't think we're going to have a trade war after he last week said they're good and easy >> right. >> and accordingly you saw caterpillar move 4% in two hours from 10:00 when we got this comment so it gets back to the things that are working and defendable in an environment where rates are still going to be an issue. we have a payroll number on friday i think the market could be get ready for another wage umber that's what started it that got markets knocked on they're so we get cash

defensive, buy back companies. >> it's the economy, stupid, right? get back to the bread-and-butter of why this market had started to rally in the way that it did -- because of the tax law, the earnings increases, buybacks. >> i know we talk about it a lot but i think that's the one main aspect -- along with the economic data that's bullish, this corporate tax cut going from 35% to 21% is incredible for the economy and i think you'll see -- you had buffett last week with apple i would think about adding apple at these levels so i don't think he top ticked it and when no one wants to buy apple, they have a ton in buyback. >> if you blast it too high you bring the fed intoplay sooner than they otherwise might be, right? on the economy that's part of the issue about inflation. >> but we have jay powell on record saying that the corporate tax cuts won't be as inflationary as he once thought. >> but what does he know the fed has a less-than- --

>> -- let than stellar record on predicting the economy. >> trump and going after these tariffs and what have you, you have the investigation coming out within the next month or so going directly at china's jugular when it comes to ip and their infringement on our intellectual property and what that cost is that cost is going to be massive. when the massive cost hits the airwa airwaves, how do you think people will react? that's a direct assault on china. direct assault on technology stocks you have to be very eyes wide open right now -- >> so what are you saying? that there's a land mine out there? >> it's a big land mine. the 301 investigation and the value of that will be a big land mine it's coming out soon so you think the tariffs and the trade war, if you will, on steel is bad, wait until you have a direct assault on china in that trade war in the implications on technology stocks. >> markets in this part of the world may be shrugging off

trump's tariff announcement, but the same can't be said if you make your way across the pond. european markets getting hit across the region with the biggest indices dropping as much as 3% and losing billions in market cap since then. our next guest says europe's troubles are far from over chart master carter worth is at the plasma to break it down for us tonight hey, carter. >> i thought it would be appropriate to talk about the other side of the trade war or at least one of the sides. europe is in a permanent -- if you can use that word in business -- funk look at this long-term chart going back to the late 1980s that is the 1999/2000 peak think about that that's 18 years. let's move this forward by one chart. what we've got is we have made no progress in, frankly, most people's professional lifetime and we're struggling right there again, we're right on a trend line that if it breaks it will be a break out of that kind of

thing. not good this is, of course, not adjusted for inflation. if you were to look at it adjusted for inflation, forget about being back to the highs, we would still have to climb another 30% just to be breaking even on an inflation adjusted basis. it's a permanent place holder so one way to look at the spread over the last two years, s&p up 20, up only three, pull it back further, here is a chart going back 20 plus years again with europe essentially stuck at its highs up, of course, from the early 1980s so let's look at the etf, the efa this is the way you can trade this, but it's in dollars. so we know this has been up, yes, but watch if it put in the euros. that's maybe the argument many would have they would say well in euros it's a currency issue, that's what's kept europe back.

i think it's this issue. it's the makeup of the index how do you compete if you've got tech at 4.7% versus -- i mean, there's no ubers, no lyfts, no netflix, no google it's heavy in financials so you have yuan lever and nestle, a few big oil stocks i want to perennially be underweight europe relative to the u.s. >> come on over. as carter makes his way over here -- >> i think he's made a great point, sometimes it's not as simple as saying they're lagging and waiting if for ecb to do something. if you look at the top of the euro stocks, it's loreal, novartis, bear you have a bunch of companies that don't have the oomph within their name i think about this dynamics in europe are being held back by the ecb who meet this is week, so does the boj. i think rates have to go up across the european union. let's not forget, they're 2.3%

gdp. >> there was a lot of flow last year into europe in that you were going to get this recovery but even then while it was up, it wasn't adjusted for risk. >> you don't think there's more bang in europe versus the u.s. based on valuations relative to the u.s. >> i'm long european financials. i think if you're going to own them, european financials are more geared toward a higher rate economies. i think siemens looks interesting because i don't think it's ge and it's suffered a similar fate. >> you take advantage of the declines in these european stocks because of the trade conversations we've been having over the last many days? >> i get global exposure if i buy the s&p 500. i'll let timmy talk to individual names in europe but when i look at how the market has -- the s&p has defended that double test of that 25/32 level in the s&p we've rallied back 50%, everybody knows i lovre

retracements my question to carter would be where do you sell this market, where do you sell the s&p and sell the global de facto with what level you look at. >> you have the numbers spot on, the 2702 is the 50% from the friday high to the friday low, two weeks spread apart probably i would say 2750, i wouldn't be against much more than that. >> but this 50 day on the s&p is now something -- it's approved because it's fallen below since the first pullback then it's been pushed back down. >> if you look at where we are in relation to the highs, the consensus is we will make new highs on a reasonable time frame. you're looking at well past that. >> carter, thank you carter worth, buy anything. >> i bought emerging markets they tended to lag em very important, it hasn't

broken down like the global stocks, it has a ton of technology in it including alibaba and ten cent at the top of the list. the eem or however you're playing it, you can do that. >> i play it directly through baba and when you looked at it the way it gets smacked around as a proxy to china then baba pops back to the $200 mark. >> facebook took profits i love amazon, i still love netflix. >> you're prepare for war here >> i'm just taking some off the table. >> who would it hurt the most? >> semi-conductors it would be the semiconductor stock that got hurt the most. >> which are at all time highs. >> correct coming up, bitcoin surging the crypto making a run at $12,000 and just shy of the $200 billion in market cap. but it's another coin getting all of the attention we'll tell you what that is

coming up. plus the media war is heating up in one of the most controversial voices in that space, rich greenfield, will be here to tell us why disney could be about to sweep the rug right out from under netflix. you're watching "fast money" live at the nasdaq stock market site in new york city's times square we'll be back right after this you might take something for your heart... or joints. but do you take something for your brain. with an ingredient originally found in jellyfish, prevagen is the number one selling brain-health supplement in drug stores nationwide. prevagen. the name to remember.

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welcome back to fast money square topping the tape today soaring to an all-time high. the stock rallying nearly 10% for its best day in over a year on what appears to be recirculating headlines that suggest the company might be testing an integration with bitcoin. do you stick with square now or do you fade this recirculation, if you want to call it that? >> who cares if it's a recirculation. it wasn't an invalid headline so if it's recirculation -- >> but it gets priced in again -- >> if the gains evaporate. >> but you also have paypal making the initiatives in the bitcoin arena and the big -- i would say the 800-pound gorilla in the room is when amazon starts accepting payment and who gets their first maybe an amazon needs somebody like square -- and i'm long it so i'm not starting any rumors, i'm saying what the end game could be, or they still remain stand alone, but there's tremendous levers they could

pull. >> they not only have boyne, but they're also the foundation of the companies they're in with. >> even on multiple on this into 2020, it's 36 times. the comps are 15 to 20 -- >> when was it not overpriced? on the way up from $12, when did you think it was fairly valued >> they've done an excellent job in payments, they've done an excellent job ramping their business and catering and moving upstream but we're giving crypto way too much valuation in the evaluation model. >> i think they did a nice job in this last earnings call trying to put that in perspective. >> it doesn't mean it's a $50 stock. >> but square cash with seven million yearsers ausers are goi the underserved. i own square as well but give it a premium. 35 bucks >> what are you putting on as valuation on amazon. this is a growth stock you're a very bright individual but you're putting metrics on it

that don't deserve to be on it. >> how much money are they going to make in trading cryptos or selling bitcoin? >> it's about services. >> they ramped their services businesses, i get that the payments business -- >> people mispriced it they thought it was a payment processor. it's not. >> i understand that and i'm giving them credit i'm going to give name 25-ish evened out multiple in 2020. they're trading at 36. >> they're up 47% -- >> the growth is on a trajectory that's better. so it's not one of these companies that's leveling off. adjusted revenues are up 47% last quarter i'm a guy that doesn't like to chase expensive multiples, as i think you know, and therefore this company has multiple channels here where they're serving the consumer business at a time when look at the iwm, look at the growth story that's where they're well positioned. still aheld, oad, one of ths

controversial voices in the media space, rich greenfield, is in the house he says disney can make a strong run at netflix if they do one thing -- and trust me, stranger things have happened and here's what's coming up -- ♪ it's a good time for the grea taste of mcdonald ♪ >> announcer: not really, mcdonald shares are in bear market territory but something happened today that suggests now might be the time to buy. we'll explain. plus, fast is going west in search of digital gold we're at the most important blockchain conference in america to talk to the biggest names and investors in bitcoin that's tomorrow at 5:00 p.m.

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and the oscar goes to -- "icarus. brian fogel and dan hogan. >> thank you thank you to the academy thanks to lisa nishimura and adam, our incredible partners at netflix. >> yeah, that was netflix's golden oscar moment winning the academy award for their documentary "icarus" and passing major milestones today for more on that let's bring in a man who has never won an oscar. >> oh! >> go ahead, bring that up. >> that's what they wrote. >> that's a sore point thank you, scottie they're winning the film oscars and the stock oscars, i'm talking about netflix. they ear up 64% year to date it started with a market cap of $86 billion. look where it is today it has a market cap of $137 billion. now, this is a big number for an

important reason in the last week or two, netflix has blown past some very big names in the s&p 500 it has a bigger market cap than general electric, than mcdonald's, than honeywell, nikes, and it's about to blow past 3m which is also at $137 billion. all this just in the last couple weeks. today ubs and mcquery hiked their price targets. eric sheridan argued netflix has achieved the same level of interest and recognition that premium producers generate, he moved his target frto $345. but the analyst at mcquery said netflix had every secular trend in its favor hi ticked off subscriber growth and pricing, the two most important things, but he noticed the proliferation of ultra high definition tvs is a big help to the bottom line. netflix charges a premium to receive content in that format

so they charge $10 per month for a standard hd plan but its ultra hd plan for 4k tvs cost $14 a month, $4 more why is that important? that could add up to a lot of money macquarie says they could reach 50% by 2020. so no one has a 12 months price target of $330 on nbz but at this rate we'll be here by the end of the week.etflix but a this rate we'll be here by the end of the week. >> bob, thanks so much you own netflix, what's the trade? >> netflix is a name i stand behind i think my view on netflix in the short run, they play this game masterfully but reed hastings talked about india and the next 100 million subscribers coming from india. i think we have roughly 14 million subscribers estimated for 2028 which is insane so if

that's a growth channel, it's off to the races. >> so you're not concerned about valuation? >> we took numbers down after last quarter it's not about numbers it's about expectations and beating expectations. >> you were early in netflix kudos. so one of the biggest netflix bulls says disney could give netflix a run for their money. you keep saying controversial -- are you controversial? >> how about fast money fresh. >> do you think you're controversial? >> look, disney has to go all in you can't -- there is no putting your toe in the water and playing the streaming game what do i mean take a movie like "black panther. huge movie, $500 million domestic box office. that means $10 ticket price, 16

million people went to sea "black panther." if disney wants to build a massive streaming business, "black panther" should be on their streaming service. "star wars" episode nine should be they should be launching with their best content not trying to create incremental content and saying hey, go to the movies, buy our movies on itunes, also subscribe to a multichannel cable package at $80 to $100 a month. they want to have their cake and eat it, too, because they don't want to disrupt their legacy businesses while they build the new business if they want to win, they have to go for it. >> are they going to do that >> no. >> why not >> because going for it means disrupting earnings and taking a step down in earnings, not -- look, the biggest criticism of netflix is that they don't make money and that they're losing money. $2 billion of negative free cash flow so disney would have to step back in earnings what is disney doing instead of stepping back and pressuring

earnings to build for the long-term? they're buying content in fox so they're going to buy fox that will take 12 to 18 months to close. >> you're hating on that deal? >> if i'm disney, what should i do with $80 billion of capital i should be investing in the future let's take what happened last night "shape of water" won best picture "three billboards" won a bunch of awards, too those movies disney will acquire as part of buying fox, those movies go through hbo. they're encumbered through an hbo deal that doesn't end until 2023 so if disney -- if they want to put must be to work they're the best content creator on the entire planet. i don't think anyone could debate that point. nobody does it better than walt disney so go for it, gun content direct to consumer, buying fox, a lot of that content is stuck going through -- think about it, fox makes this "this is us," hus

the secondary window to that content. you can't get at that because it's encumbered. that's the problem is that wherever you buy alegacy media company it has all of these distribution outlets that are already stuck in motion whereas if disney just spent and created new content, they could win. >> if that's the case that they don't want to take the hit now then they must think they could not ever take a hit? that doesn't make sense. >> well, jeff is selling his company, rupert murdoch is selling his company. >> so you're saying they think they can buy it and not take a it >> well, maybe the reality is extend the runway long enough. i think about that "march of the penguins" movie where they huddle closer together to survive winter longer. it doesn't fix the problem general electric faces but it

gives them cost savings. >> are you 100% certain this deal will happen >> we still think comcast should we think they're a much better buyer. if i'm a fox shareholder, you should want them to talk to comcast. comcast can pay more when you think about -- >> you think they are? >> comcast is already trying to buy sky. why stop at sky if you're comcast? bob iger called sky on tv he literally called it the chron jewel of this transaction. if you're going to buy sky you should buy all of fox. >> game it for me, how will it play out >>. >> i think comcast is serious, fox should entertain discussions with comcast, break up these billion and a half dollars that's nothing in the scheme of comcast. the synergies are significant. >> comcast could also buy other things and go direct to consumer but comcast is in the

distribution business, they believe in that business, there are meaningful synergies to comcast buying sky and fox far more so than disney. >> so back to the distribution and netflix which you had a great call on. you're at 310. >> 330. >> you've been there for a long time is it a content company? neither multiple makes sense to me. >> you have to look at what -- what's happened to netflix other the course of the last two months two years ago when they raised price subscribers canceled people complained, that was front page news, you were probably running stories on air about being people upset they raised price by 10% worldwide and more people signed up than ever before so they have pricing power, people want that content. there's a billboard right behind us. >> all those head winds are now tail winds

it used to be they couldn't curate programming internationally now they're all tail winds and it used to be who's going to buy netflix is netflix too big to get bought now? are they the new dnz. >> at $136 billion market cap it's getting hard to imagine anyone bying netflix maybe companies like apple or google but i think the size of netflix and the runway that you all have been kind of discussing, they see where this is going you mentioned india. if you believe even half of your india story why would you sell for 150 or 160 netflix probably thinks this is a $200 billion, $300 billion company. we're just starting. broadband is coming across the entire world, not just in the u.s. and developed markets, there's earlier stage broadband markets growing rapidly. >> >> back to our parent company

comcast. you said how much the ski deal makes strategic sense. >> investors like it more, too. >> why was comcast stock down 5r7bd 5% the day the story was reported is. it was a tough market today. >> i understand but the stock was still down 5%. there's a group of comcast investors that would like them to buy back stock and harvest cash ott of their great broadband -- i don't want to say monopoly but it's close. they have broadband prowess. it's a good deal sod ill business but the video businesses, they're losing video subscribe subscribers. >> you have more margins on broadband -- >> so there's a story of like, hey, you you're good at broadband, if anything buy in wireless, but buy satellite subscribers and cable networks in sky, do you need to do that

could i argue there are other things companies should be doing? comcast buying twitter makes a lot of sense, too. >> let me end with one last question related to disney since you became as negative as you have been on disney, if i say since rich greenfield dumped a whole big bowl of you know what on our company -- >> the sell on disney. >> we did the fox deal, we got more theme park stuff happening, more movies happening, we got a streaming service coming why aren't you as positive as you have been since you turned so negative on disney? >> you know what i'm saying? none of that says maybe i should take a difference look at this company. >> i would reverse it, imagine what would have happened to disney's stock if the movies hadn't been so -- think about it

on a scale of 1-10 disney's movie success has probably been a 15 i don't know probability perfectly on movies, but i t odds of maintaining this level of outperformance consistently is -- take a 20, 30 year time fra frame. so you're buying disney at approaching if not peak film earnings and its espn troubles are getting worse, there is no answer to this problem, nfl ratings down 9%, oscar ratings were down 19% in viewers last night, grammys were down on cbs, down 25% people are tuning out of live tv and cutting the cord there's no fixing the problem. it will get worse so they have to go direct to consumer faster. they're launching espn without espn so it's going to be none of the content on espn on a $5 espn

add-on it sounds like a tough sell to consumers who already think they pay a lot of money for espn and skiebl wanting to have your cake and eat it too is a flawed strategy we want disney to embrace the future and go all in. >> anything short of that you're not -- >> we're not convinced >> rich, thanks. rich greenfield. still ahead, bitcoin soaring more than 20% inthe last week, making a run towards 212,0012,0u there's another krocryptocurreny getting the attention. plus, from crypto to cannabis, a number of las vegas casino owners are cracking down on pot even though it's legal in nevada what's that about? much more fast money right after this finally. you're still here? come on, denise. we're voya! we stay with you to and through retirement... with solutions to help provide income throughout. i get that voya is with me through retirement, i'm just surprised it means in my kitchen. oh. so, that means no breakfast? i said there might be breakfast. i was really looking forward to breakfast.

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>> so this is a problem that spans more than just china, it's all of the countries of the world. >> well, that was nucor ceo sitting down with cnbc's jim cramer talking president trump's proposed steel tariffs grasso, off comment here >> if you look at the space, it didn't react the way you would have thought a lot of these charts, nucor, is up 6% year to date it looked double-topee for me

and i think people look at something like this,that i react and say why are we not seeing a breakthrough on recent highs. i'm going to dump it because it hasn't performed or it's performed too much and i think it's already baked in. >> hold on a second because we have a cramer alert. booyah kr jim cramer joins us now your big take away from nucor was what >> i understand what steve was saying because the stock seems punkier. it moved up in anticipation of something i don't know told me would happen over and over again, which would be tariff announcements. if you got tariffs anywhere near 25% you'll look back and say how could i not have bought the stock. it's the only growth stock in the group, it has a fantastic balance sheet. john makes a good case that it's about china and anybody who thinks it's not about choing hasn't done the home work. >> well, nucor isn't the only

big interview you for you tonight. you sat down with dominos' ceo to talk about the future let's listen to that. >> we think it's three to five years out so we're investing heavily. we announced the second round of testing with ford in miami last week so we are looking at it, we're investing aggressively we're looking at how that transportation changes, how the customers interact with us, they have to come out of their homes or apartments so we're learning about that investing we think it's a great opportunity for us. >> i know how much you like talking to paddy doyle. >> and listen, scott, they are the technology leader in pretty much everything, they were the first ones to make a order online they are the ones that are going to move the ball when it comes to driverless cars because that's what they care about and it's going to be them that makes you feellike it's here and it

will be here faster than people realize so watch domino, watch autonomous driving it will be three years and boom. >> it's tim. is this e-pizza? what do you do with that multiple that's the only pushback stock has gone from 170 to 210 it looks great international a great. everything you said. what is the multiple. >> it's difficult to figure out because papa johns is in big trouble. pizza hut has cut back on the number of stores not doing nearly as well as it looks like so i think domino cans go higher there had been a glitch involving japan and japan has fixed that i think the stock can go 230, 240 and i think that's where it will head before paddy retires. >> good stuff. >> thank you, guys >> you can catch jim cramer's full interviews with ithe nucor

and dominos ceo in about 15 minutes from now. >> i've been long steel. we priced in probably $700 a ton on hrc we'll probably get to $900 so i think they can go higher. there's been a lot of news priced in but hard to feel bad about steel companies now. i worry about the capacity in the industry and supply discipline that's two or three years down the road. >> grasso, letter x? >> can i take a player choice? can i go dominos >> go. >> we started talking about dominos years ago, the stock was around $30 a share in 2012 under patrick doyle's watch, this stock has outperformed apple, amazon and google that is your head wind when he resigns, when he leaves the company, that's your head wind in an otherwise perfect execution. >> sticking with fast food and the biggest one, mcdonald's is hear inning bear market

territory and that's attracting attention in the options pits. hey, mike. >> so as yo pointed out, mcdonald's was sharp off the highs. we saw calls outpacing puts by 2-1 on above average call volume where we saw the most activity were buyers of the april 155 calls. over a thousand of those trading for $260 i think this is an interesting situation because we think of this as a mature business. >> more options action, check out the full show friday, 5:30 p.m. eastern who has a comment? >> i'm long mcdonald's i haven't been nibbling on the way down here.

it's got a digital component of the valuation that people are paying attention to. i think labor costs are an issue. >> i agree the digital side, they're embracing it, it's been a long business but they're embracing technology correctly they've made the right menu shifts this is an industry that continues to work so i think money will start to flow in at these levels. still ahead, bitcoin soaring but it's another cryptocurrency that's all the rage on twitter today. we'll tell you what it is coming up you're watching fast money live at the ndaasq market site in times square don't go away, we'll be right back after this. let's get started. show of hands. who wants customizable options chains? ones that make it fast and easy to analyze and take action? how about some of the lowest options fees?

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las vegas facing a cannabis a none dr conundrum. we have jane wells with the story. >> they're arguably the two biggest industries in las vegas right now, but since casinos could lose their licenses if they violate federal law and since pot is against federal law, even the whiff of pot or pot money cannot be anywhere inside their properties. that even includes companies that maybe don't handle the plant itself, like the ceo of mass root which is is a web site that has news around reviews of cannabis, not actual pot itself. that ceo tried to apply for a loyalty card at the wynn, listed his company, not only was he turned down but he was banned for life

so today the state gaming policy committee -- which includes the governor and mgm resort ceo jim murran got together to come up with new rules casinos cannot be in any business with the marijuana industry in any capacity they can continue to allow pot conventions on site because those have certain first amendment protections. >> >> i think it provides teeth to a difficult issue but also understands the fluid nature of conflicting laws between the united states and nevada and i'm fully in support of these change changes. >> here's the real problem, guys, money laundering, even if the money is legal in the eyes of the state one ceo of a large cannabis company told me no bank will take his cash so he brings the cash to vegas, goes into the casino, turns it into chips, gambles it, cashs the chips in

for a check that he can deposit into a bank. very difficult to know how much of that is going on and how to stop it. back to you. >> jane, thank you very much. will pot stocks take a hit on a new crackdown by the casinos? >> no, but it's the federal laws they're trying to stay away from, getting to a place where that industry needs funding and there's very little credit for the cannabis world there's a strong association with crypto and those two industries seem to be more aligned than ever for that reason. >> how many other sectors can you say are capable of money laundering at a casino you can go there with a ton of cash and do the same thing so i think this is a headline risk. >> cannabis stocks have been on fire after a big bottoming in january and some of the earnings are coming out andthese guys are showing they're making money. >> from cannabis to crypto look at bitcoin making a run towards 12,000 today it's up 20% in the last week but

it's another cryptocurrency catching attention today and that's ripple. briefly topping $1 ahead of a big interview with the ceo tomorrow at our special fast goes crypto show we will be live at the credit suisse blockchain symposium in san francisco. we have a great lineup the biggest names in the space, john burbank, passport capital chamath palihipitiya, ssiff hirji and brad garlinghouse. who are you most excited to here from, the person's whose name i butchered? >> no, listen i i think the conference in general what i'm excited about. in new york we focus on investing. out here it will be about

blockchain the technology behind it john burbank interested in hearing. so it will be difficult than what we talk about everyday but fascinating stuff. >> when you think about it, this isreally focused towards bcs and talking about the blockchain tech, how disintermediate@ing. so i'm excited about panels on blockchain in the enterprise or just kind of making cross border payments or payments in general. those are the trends that will disrupt these large technology and financial incumbents for the next 20 years. >> if we're talking about blockchain and i'm long overstock and people don't look at it as a blockchain angle to play, what are your thoughts on t-0, the solely-owned subsidiary in overstock >> well, just for full

disclosure, i love in general the space, i think that will be a big theme. and what i mean is companies that are going effectively public using a regulation a plus token offering just like a stock does so that will be very, very big this year. >> let me ask you, do you think bitcoin and all the kroins care about where the u.s. -- where world markets trade? are they correlated? >> they havebeen uncorrelated for the last couple years. i have noticed recently some people talking about using bitcoin as a hedge against the turmoil because what we're talking about globally now is political turmoil and political turmoil affects currencies so i have picked up a little chatter that you know what maybe bitcoin is going to be a hedge and we did a piece on it last week. >> all right, gentlemen, see you tomorrow, look forward to it be sure to stay tuned to our

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that's the power of and. we have a question about your brokerage fees. fees? what did you have in mind? i don't know. $4.95 per trade? uhhh and i was wondering if your brokerage offers some sort of guarantee? guarantee? where we can get our fees and commissions back if we're not happy. so can you offer me what schwab is offering? what's with all the questions? ask your broker if they're offering $4.95 online equity trades and a satisfaction guarantee. if you don't like their answer, ask again at schwab. r let's go around the horn, tim seymour with a big smile on his face. >> great to have you because you've been here today, scott, mcdonald's, i think this pullback is a time to buy the stock. >> karen >> citibank also this pullback i think. there's good things going on volcker rule hopefully easier.

>> square, you know the reasons why, i think it's too far too fast. >> square. i think you should be a buyer here and if you want to keep it -- no one went broke by taking profits keep it on a short chain catch fast money at 5:00 p.m. my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to save you some money. my job is not just to entertain but to educate and teach you put all this in perspective. so call me at 1-800-743-cnbc or tweet me @jimcramer. all weekend. all weekend i heard about it i