and he's got a great relationship with his athletes and that's what matters. >> being an international company and the soccer players on the 30th anniversary and maybe they were. i didn't see it. >> anyway -- by the way adidas shares also fell today and they did indeed. >> that's enough for the closing bell "fast money" begins right now. >> "fast money" starts right now live from the market overlooking new york city's times square i'm melissa lee, tim seymour, kare karen finerman and guy adami don't fear the september swoon, and cronos group will be here to talk about the cannabis craze and why he says the short sellers are getting it all wrong, but first, we start with amazing amazon somewhere ceo jeff bezos is smiling and maybe laughing as the company becomes the second one ever to hit a trillion dollar valuation coming in right behind apple

months ago and it's supposed to be on an unstoppable run in 2018 and a whopping 75% adding more than $430 billion in market cap, but you keep buying amazon and the tech titans carry the market on its shoulders >> guy, what do you say? >> leading with aerosmith is fantastic. so by that alone you should continue to buy amazon >> we've been pretty constructive for quite some time and now you're looking at a point that a relative strength index is pretty much ahead of his keys and that's not to say the stock will collapse and that relative strength index will come back to levels that make sense, and at these levels have gotten ahead of the next month, month and a half is slightly lower and what concerns me is the portions of the market in the mega-cap tech and that's what bothers me and i actually agree with that, and i think

amazon's biggest issues are not valuation and they're not even positioning and it's the regulatory environment i've said this before. i think there could be antitrust, and not because they're dominant in any one particular sector and because for a long time they've been in business not to make money and to push into market share. i think one of the greatest things they've actually done in the last couple of years is the whole foods deal and the trillion and a half dollar consumable space and it's the place that benefits all consumers right now and i think it's uber competitive and i think they're putting pressure walmart. and the anticompetitive nature with this administration. >> why this administration has broken out at any time they want. >> last week, trump said that amazon among the other big tech companies were acting in an antitrust manner, they have so many different levers that they can pull that i don't think it

would be effective with amazon to actually go the route of regulation i think everyone knows that was sort of out there and that was too complicated. >> i don't understand. amazon has a lot of income streams and revenue sources and they could do other things >> i think it would be too convoluted for the government to go after them because they have so many revenue streams it would be difficult to have anything long lasting >> i mean, to your point in a way, if antitrust comes from being too big and the slugd is to break up the company in some way, actually, that would be good for shareholders. that would probably unlock a lot of value >> isn't it ultimately -- >> i mean, you know, i don't know i didn't say i think they're technically or definitionally in a place where they're too big in any one sector, but they have run small businesses out in ten

sectors. mom and pop stores are getting crushed by amazon. somebody cares about that. i don't know who >> what do you think >> it is ironic that this administration might be one who would be anti-amazon since they've grown organically except for a few things like the whole food, but it's interesting to me, though i don't know if this last move is just analysts falling all over themselves to put very big targets out there and be the first one or if you know, if amazon as the retailer is not just that they're taking share away, but consumers are spending everywhere everywhere, even with the prime day, even with the momentary and the site didn't work and it was an extraordinary day it's astounding to me, though, the stock, you can't get comfortable with it on a retail valuation. you have to get comfortable with it on their growth and their ability to grow in all businesses for a while

they've been able to do that apple was supposed to be the top of the market and trillion dollar valuation and that was 10% ago. so we've seen that happen. amazon has been open months ago and it's up from $1300 the last time and it was way over its keys >> one thing that i noticed that was interesting. amazon, trillion dollars if you look at just today and any time the stock traded and the traders will say 2,039 bid and 2,039 offer and that is bigger than the entire sears market cap sears was the amazon of its day, right? unbelievable to imagine amazon -- >> yes, it does. the catalog, and why wouldn't i? the catalog, you have people laughing in the peanut gallery over there >> the good news for amazon is they're getting into the higher margin business and the morgan

stanley upgrade cited that exactly with the $2500 price target and my point about rsi is maybe the stock has been ahead of itself and now in terms of that metric alone it certainly is the stocks typically trade somewhere between say 45 and 70 in the rfi you have amazon trading north of 80 which last time we saw these lofty levels were 20 or so years ago. >> it seems like the only reason you don't like amazon at this point is technical >> all these bullish analysts on the street who are saying the revenue -- and margins are great and the cloud will be amazing and you believe all of that. >> everybody is on one side on this trade they could prove to be correct >> everyone said short amazon and shorted again and it was based on valuation and now everyone realizes that they can turn that lever or turn the screws whenever they want during

earnings and kill the shorts it's impossible to short >> i don't think they care about killing the shorts, though i think this is a very different kind of ceo. >> i don't think people afraid to short it. guys are talking about rsis and i think it's right to talk about when things get overbought and the cool thing about rsi is you can go to overbought pretty quickly and i don't think analysts will make the call based upon that. the part of the business model to me, is aws, and it's been the growth engine and that's the place that they're competing against and one of the biggest names out there in tech and it will have to be commoditized and there are a lot of people looking to play in that space. if anything, that's where the multiple gets compressed from whatever levels we're at >> before we move on, i would like to play a game of would you rather >> would you rather and the choice is between the $2 trillion market cap company. apple or amazon?

>> guy adami >> is there a timeframe for this game >> and the science was overbought and if it goes sideways, it gets more manageable, and by the way, i like that you brought that up with joe kernen at 6:00 a.m. in the morning. we got the whole clock going >> no, no. and we did pops and drops. and we're not done for a good, long time. >> i'm a little jealous. and i was playing games with other people. >> and it was the amazing run that's about to come to an end and hi, carter >> it was technical and the question is can you be ahead of yourself and there's nothing wrong with the stock and there's

nothing wrong with the story it's just sometimes things get a little too far too fast and it's not what one might expect. if i was to put in some line, and i would point out the following. this stock, as you can see here has had plenty of givebacks. that's 30% that's 32. that's 17. that's 30. 32 that's 16. that's 14. just two months ago so the issue is, let's move forward and that's the kind of thing out there and i want to zero in on more immediate period in the past decade and what we know it's bounced off this line, and you've come back to it so the question is in the past three years we do with that kind of thing so zeroing in on the here and now, but what we know is it's the same circumstance. do we have the risk of coming

back put the percentages in and this is the last three years. same circumstance. this can happen in just a matter of days and it doesn't mean it's bearish or bullish and it's just the sequence of an uptrend and uptrends often have givebacks and i'm betting that we have that kind of thing now and let's go forward a little further and so i want to talk about facebook and move to facebook specifically highfliers can come to an end abruptly and here is a two or three-year chart of facebook and amazon here is the five years, and that does not imfly and we know that out of nowhere things can change and then we'll end there facebook has this very distinct problem. it has this huge, heavy volume sell-off and it has another heavy volume sell-off and it has

the look happening in the formation and one that's weak and i would want to reduce my own. >> i think carter comes over with without a doubt >> please come on over and michelle will bring the chair in better dressed than anybody here so amazon right now, you agree with guy >> it has nothing to do with the long-term story and would you rather have owned them both? apple and amazon together, but the issue is can you be a little hot? can you have a moment in time and all of a sudden he wasn't involved in the beginning with the first ten, 20 years and maybe he's getting involved. the point is when we got to the trillion dollars with the arbitrary thing, there is a good option showing friday. i love how you did that. thanks for the fun, carter what kind of checkback would we be looking for this kind of

down, and the sell-off correction and those are all the worst ones who are 30, but it request be ten, 12 or 20 and nothing would have changed with the juggernaut is the sears of its day or the walmart of its day. >> but that line and there was a checkback to that line and if you came back in one day as opposed to coming down over a period of time and it was 16 or 18%. and the checkbacks when i look back, and i think he pointed us out and on one of the biggest ones and they were six days and within 12 days it was higher than where the checkback started and so when we look at this, is it too hard to thread that needle, number one and number two, apple, amazon, microsoft are a huge component as far as market cap for the s&p and do you think s&p checks back and the top three stocks and amazon, and microsoft and

apple, and len% of the s&p and the 250, and it was 200, but in the case of amazon, and truly listeners and certainly an option knowing who you are, and what you can or can't do. and they write some calls. >> i want to make sure you understand what we're doing facebook relative to amazon. >> and it will probably get worse and one is hot, and it would reduce. >> and it wasn't one relative to the other. >> they were quite correlated and things can change. >>. >> old just ask if i look at our biggest concern that it is now

30% of the nasdaq and in to me is the market question forget amazon and it's udz of facebook that has its own issues >> or it's not even so much bang, and large cap, and visa. the rsrg >> unrelenting market caps and yet case after case. and facebook and twitter does it have to be amazon? not necessarily, but that's the reason for having some options approach or some reducing of a law. >> carter, always nice to see you. and the plug for that which he wasn't on on friday ahead of the labor day weekend as he should be. >> but he's back now, march into april of this year, amazon went from 1600 to 1400 and you

mentioned 12% and that's 12% and it recovered and we did have a 12% move to the down side and it gets you to 1850ish and that's not ridiculous. >> coming up, nike shares under pressure and the controversial ad campaign featuring nfl player colin kaepernick shakes up wall street will it end up backfiring on the shoe giant we asked pop strategist tony dwyer what could go wrong. you won't believe his answer >> shares of hot stock cronos group by short seller andrew lest we are live om tesfrim square in new york city. much more "fast money" right after this

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welcome back to "fast money," colin kaepernick as one of the featured athletes the former 49ers quarterback tweeted an image, believe in something even if it means sacrificing everything it immediately sparked backlash with more than 132,000 mentions including this one of people burning and destroying their nike apparel moments ago, president trump weighing in on the controversy in an interview with the daily caller saying nike is sending a, quote, terrible message. should nike be playing politics here will it backfire on the brand? tim, you're a shareholder. >> i don't like to see any company playing politics

it doesn't matter what the politics are it's like market share and not getting political. if you're a shoe company i would prefer you stay out of the fray. i also think this is different from a howard schultz and starbucks. the impact there might be on the image of the brand and we are here, and the closest comparison where this is dick's and guns and when dick's sporting goods got out there and this is how we're handling the whole gun issue. people don't feel dispassionate, they feel very passionate about it i get why nike is doing it they have a history of doing this good for them and i feel the athletes that it endorsed are very much in favor for this and where is their bread and butter and it's their consumer ultimately >> i think net-net it would be a positive for them and one thing, and there are three constituents you have to deal with. and remember, less than half the business is in the united states now and 40% or less.

>> the customers and the shareholders and their employees. ien moo, there's over 70,000 employees at nike and my bet is that they're proud of their company for doing this in general. the majority would be my strong suspicion, and -- and this is about -- is this the right thing to do for the company and the culture. if you work on the this company, and i think to that c constituency, it's a good thing for a company to be as long as people buy in. that's kind of what you're saying if their employees buy in, and consumers and ultimately it's consumers that have to buy into it personally, i'm probably going to go elsewhere because i don't agree with it and i'll go elsewhere, but to karen's point the international exposure will make this a nonevent in a couple of weeks and it would be

dissolved out of this and as far as the retail consumer, no i know -- right away, people will point out you make a decision >> and i agree with you. it's a very good point, 35 ask younger. >> 45% younger than 25 and i agree with tim, i don't think that a corporation should be getting political. >> right >> i agree with that, but i also think that the international exposure is going to make this a non-event because what's important to us here, very important to us here is not important to the globe >> in the process they might be appealing to millennials at the expense of alienating other customers. banking on the future customer, potentially alien ating another customer. >> they probably know their customers as well as anybody and josh brown made their first

thing on twitter they're playing for the millennial audience to sort of embrace this >> politics aside, they're playing the long game here and they might take short term pain for long-term gain in terms of the stock and it's been a significant uptrend in october and as long as they hold, in my opinion, 75 bucks and that was still intact and i think they report in three weeks. >> is this marketing campaign over because they have colin kaepernick and they also had another athlete who stood for the anthem, and they had and fans are -- would that be as effective of a campaign and is it only -- >> i don't want to comment on colin kaepernick because what you're saying is if you took someone from the other side of the issue and threw it out there, would you now have a balanced issue as opposed to an imbalanced one now >> i don't want to get behind that >> would it take the political

nature of the ad campaign and diffuse it because they're putting forth two sides of the same issue >> i just think that they're trying to be political here and again, say what you want and everyone here is saying they think it will have a positive impact on a brand. >> i just think that ultimately the view here is that by the way, the reason nike's stock is higher is the inflexion of north america and to everybody we've known all about their business and they were getting punished by losing with north america and losing out to adidas and just think about it, if the use is that important let's not dismiss it >> think about it, and i have four kids and i'm not going to buy nike products. >> they might not play the super long game, and my kids are not going to be exposed and they're not going to know that as a brand as much as we knew it as a brand growing up. >> i'm probably going to burn

them i'm not going to burn them, but i did tell my wife >> i did tell my wife last night, i said let's just go to adidas and let's go to underarmour. >> wall street starts to turn its back on the south and the road is starting to get crowded with competition i'm melissa lee and first in business worldwide and here's what else is comin "fast. ♪ ♪ well, if history is any indication the bulls won't be dancing in september the top strategist says it's the bears who have it all wrong. he'll explain. plus -- >> i love weed >> yeah, well, so do investors because cannabis stocks are surging, and the ceo of one pot company will be here to tell us what's behind the cannabis craze. much more "fast money" aer th isft

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welcome back to "fast money," earth, wind and fire may be dancing in september and they sit this one out since it's a weak month since markets our bob pisani is at the nyse to break it down for us hi, bob. >> last week, earth, wind and fire and today i'm in heaven from the 1970s september is the worse month from the s&p 500 and down since 1950, but that's a fairly modest decline on average and it's not a done deal. so september has been up 30 of the september months of the 67 cite september months, and it's been down 37 of those times. do the math here september is up about 45% and it's not terrible. there are threats to the rally and everybody knows what they are. and it's been emerging markets and some of which by turkey is a

separate issue and the fed continuing to raise rates. it's still out there, and the biggest threat to the rally is it, stocks are no longer that cheap anymore. >> prices are a lot higher and remember the s&p is up 10% since the start of the second quarter. the first quarter saw the big volatility spike and at the end of the first quarter the s&p was down 1% for the year and stocks were trading below 16 times forward earnings and that was cheap by historic standards and today the prices are up a lot and earnings provisions are not going up as much and the s&p is trading at about 17 times forward earnings and it is definitely more pricey and those higher prices are causing some to get more cautious on u.s. stocks so, for example, morgan stanley the u.s. stocks for the neutral and a slight overweight and consider putting more money into europe which dramatically underperformed the u.s. this year and most of the world, most of the numbers have dramatically underperformed the u.s. and

germany, japan and china down 16%. >> melissa, back to you. >> bob, thanks bob pisani the markets near all-time highs and what could go wrong? >> and the chief market strategist, tony dwyer is at the plaza with just that tony, take it away and it's interesting because people are talking about the september swoon. and that didn't work out, and they were so dramatically positive and up over 25% and the first two quarters and probably will be that way in the third quarter and constantly, what could go wrong for me as an intermediate term strategist and we get an inflation spike and interest rates tend to spike and when interest rate tends to spike and you get credit deterioration, and it's hard to have a credit crisis and there's no stress in the credit market and the inflation break even for the next five years and the market expects inflation to do and it's

to come down 15 bases points over the last couple of months and the credit stress indicators from the fed and they're as low as they've been in years and historically low and growth slowing is not an option right now and we have the ism report that came out this morning showed some pretty dramatic upside and it hit a high of the cycle and why that's important, and the ism manufacturing index hit the height of the cycle and there wasn't a recession for me being 34 months and that's what i'm basically saying is you shouldn't have a recession for a number of years and you could see it here and the peak of the cycle was there and the peak of the cycle was there and the peak of the cycle was there and those are nowhere near the recession indicators which are in the gray shaded areas >> tony comes over, right? tony, come on over >> come on >> double duty for michelle. >> hi, guys. i'm still trying to get over the

whole garanimals thing >> are you surprised >> very unfair to our viewers. okay we're talking about the coming of a recession and that doesn't mean that stocks won't top out sooner than when the recession comes and we could see years we could see a peak in the stock market before that, and a peek and the problem that investors have and the market goes down 5% and you start screaming that you'll be in trouble and then you start to sell into the weakness because you're scared without the peak of the cycle. >> that, as many of you know, that's the mistake and selling into weakness unless you have an inversion and the identification of a recession is a mistake, and we've been doing this a while, and any correction that's outside of a recession and in your career, should you have bought it or sold it, and a

sell-off create a recession or does the recession create the sell-off and the consumer confidence for me is an overlay of the s&p 500? >> so if the stock market were to sell off and scare people and the consumer confidence goes down and the sell-off in the stock market can cause a recession or vice versa. it has nothing to do with either, guys it has to do with the shutdown in the credit and people keep talking about the inversion of the yield curve because it's focused on it and it may mean it doesn't work this cycle. if a bank gets money at less than what they lend it for, they'll make a loan. if the bank gets money at a higher rate they're not going to make the loan. it's math and in this case, guys, you have not just consumer confidence at a historic sky and the nfib is the small business cycle and now you have the small manufacturing index which is the survey of manufacturers at the height of the cycle and it's not just one >> who played on the beach in

prague yesterday, and it was live yesterday >> this song >> yes >> absolutely. so let me take a place to -- and after the loving's gone, what is right is wrong so the global economy isn't doing so well and that was the whole reason we were fired up. >> they were near two-yore lows and everything you hear from this part of the world or those parts of the world is awful. >> we know that timothy, earlier this year. >> i feel i'm in trouble >> it's my son's name. >> great name. >> we entered the year and everybody was talking about a global, synchronized recovery and how that was going to spell gains for the rest of time we were cautious back then and we called for a correction and it was because when the fed raises interest rates and global monetary policy is less accommodative, you're going to have slower growth again, it comes down to money

availability that doesn't mean the cycle's over if you thought about that from 1996 to 2000, that would have been an absolute disaster an high valuations and all of the arguments of today would have decimated you as a portfolio manager and investor if you got out of the market. so what happens is you get a huge surge in volatility at times that you want to buy so that really is our case in point is when you get into an extreme overbought and you absolutely do not want to ever, ever, ever, ever sell weakness when you're not in a recessionary outlook environment and we are not based on every indicator we saw >> 3200 on the street. good to see you. >> coming up, tesla's electric storm, the stock thinking after goldman sachs increased competition and we've got the details. plus pot stocks starting the week on a high note, the company

that andrew lest targeted last week much more "fast money" still ahead.

welcome back to "fast money," pot stocks are on fire after one short seller targeted two big names in the space aditi roy has the details from san francisco. hi, aditi. >> hi, melissa one of the short seller target cronos group had a wild ride in the company shares last week it saw a 21% move last monday

and the best day since february 6th and the forward trend of cannabis companies as canada marches for the legalization of recreational marijuana on october 17th and shares tumbled 28% last tuesday making it the worst day in the listing's history dating back to july 2016 and the stock ended the regular session today up nearly 13% following that volatile week that report made a pointed allegation about cronos' disclosure business agreements with canadian provinces saying cronos' management appeared to have been deceiving the public by purposely not disclosing the says of the distribution agreement unlike every other major cannabis player. cronos' is worth $3.60 a share and other industry watchers don't agree the bmp securities came up with its own note and it

said the stock reaction was, quote, significantly overdone and citron shorted another pot stock and it was the first pot stock to ipo on the u.s. exchange and that company's shares up 18% in today's regular session. >> back to you, melissa. >> thank you very much, aditi roy in san francisco >> let's go straight to respond to the short seller's allegations and michael joins us here on set of the ceo of cronos andrew says it is worth $3.50 and as aditi outlined they cannot disclose the size of the distribution agreement what can you tell us >> we think that citron's space, and they've admitted to covering the short and the focus on the last two days has been on the report and it's been focusing on what was ginkgo and its disruptive potential

when we think about why that's so important, it's not just being able to produce the same products of competitors and the higher purity and the frack of the cost and it's being able to produce other products that the competitors can't. when you hear about how amazing and the market opportunity is of the zero calories and zero hangover product, and it doesn't increase your appetite, and can you suppress your appetite with ginkgo, one of the things is the suppressive draft site. >> and i do want to go deeper and it's an interest area for the entire space going forward, but in terms of getting back to this allegation that we're deceiving investors by not disclosing the size of these distribution agreements and have you released the side and left and other short sellers are missing that press release did those numbers exist publicly >> one thing that's helpful to point to is if you look at ontario and they've made public

remarks and not only our producer prohibited from actually given the size to give volume allocation. this is the consumer product and ultimately, the consumer is going to decide who the winner is and why we focus on quality and giving a differentiated product and when we have concrete, guaranteed purchase orders, which is the largest guaranteed supply agreement with 20,000 kilos take or pay and we disclose and pay that information and we always err on the side of caution being conservative and that's something that we are distributing product and ultimately, it will be a function of sales velocity and you want to release sales numbers as opposed to the size of the agreement and it's a big difference with me saying we are allocating x amount and we will model the revenue and the size

of the distribution so they could factor in. this is how much you would sell. >> there are two things you often hear and you don't have enough capacity to fill the distribution agreement and now you don't have enough of a distribution agreement to move your capacity. i think you have to pick one but you understand whether it's germany, poland, ontario, british columbia, nova scotia, and there are a lot of other outlets. we do not feel demand is an issue and the struggle is, it is stressful to keep up with demand there is a huge catalyst coming and as far as which channel will it ultimately work to, it is difficult and you're trying to keep everyone happy. >> on the point of keeping up with demand, a big part of the competitive nature of the space is keeping production costs low. everybody is trying to scale, right? that's why there's been so much

acquisition, in terms of the cost what has the trend been in reducing the cost and was able to go from $4.04 cost per gram in 2016 to $2.84 that's a dramatic decrease in the cost of production what is your cost of production right now and what was it a year ago? >> they've absolutely decreased and i think it's also important to make a differentiation of what exactly that metric means and if you look at indoor production at the premium product and the greenhouse production that's going more of a mainstream bucket and one of the reasons, the focus on cost per gram is they're not purchasing an ornamental flower here and they're looking for an active know greed yent, so with ginkgo, the reason -- it's 20% thc which is a great number that they're happy with and you can produce it for $1 a gram you didn't have to pay employees, nothing, and 100%

cannabinoid deal and it's the gram >> the metric should be cannabinoid per gram it's not quite on. >> you can't run the same metric on everybody it seems to me that the news today to me is maybe the most exciting part of the story right now at least for me because the ginkgo deal means you're exploring different cannabinoids and what we don't know of yet is what has people excited on the biopharma side talk about that. >> the way we look at it, flower is where the market's been today and we understand value add products are coming and that's what we're excited about citrus, as an example. think about oranges, right there's always a market for oranges and a market for orange juice, but if you're thinking about the value-added products of vitamin c and an analog of thc, my question is if you believe that you want to figure out how to make product airborne

like emergency and vitamin c tablets and we have all of the juice and extract that vitamin c or you want to figure out the best means of production and that's the focus of ginkgo and they're the leader in -- they're there in the cnbc 50 disruptor list and every industry that they've touched they've been able to work through >> i ask a question, will you need to capital raise? >> we are very healthy in the capital department i think that's always the question on people's minds if you look at our last quarter, we haven't tapped the facility and we have 33 million left on it and we're pretty comfortable >> thank you very much for coming by. we appreciate you coming by. the ceo of cronos. >> one thing that's interesting about this deal is they basically aligned this deal with performance, and i think they'll be paying ginkgo based upon how they achieve along those lines look, no ceo should have to

justify a valuation that's extremely, extremely rich. on some level, values that is equated to the success that the company's had, and i will say there are names across the space, and look around >> it's up 121% year to date they have the largest market cap to defend basically $12 billion. october 27th is the legal zagd day in canada and what date is what has kept the other ma place in this sector, be careful, keep it running into the deadline. >> >>es it lashgs set to crash in t in the next sipths months. more fast after this jimmy's gotten used to his whole room smelling like sweaty odors.

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welcome back to "fast money," tesla shares thinking after goldman sachs and increased competition could send the automaker tumbling in the coming months. phil lebeau is next with the story. >> a little more than a week after tesla said it would no longer consider going private, a possibility that goldman sachs had been advising tesla about, well, goldman sachs has resumed coverage on tesla and david tamborino is the analyst there and he researched coverage of tesla with a sell rating and a six-month price target of $210 a share and he's got concerns about tesla's margins being under pressure and the capital

position of the company and about increasing competition and tamborino writes in a note with clients today and we believe companies will have a pressure on the lead in evs as competition catches up some of the competition will be coming from europe specifically mercedes benz and the company unveiled the new electric suv and it's called the eqc and it will go on sale next year. you combine the eqc with the e-tron and the next couple of years and that's some of the competition that wall street is talking about as you take a look at tesla, and that was a stock that's under $300 for much of the day. and under pressure as wall street and investors continue to ask the question about tesla's capital position, competition and whether or not this company will need to raise money as it expands production melissa, back to you >> thank you very much phil lebeau in chick for us. >> for all of the talk that we may have about gm's electric --

mercedes and the realities and the bmws of the world and these are the first real competitors in term of the luxury car market to any of tesla's models right now. should we be worried >> well, yeah. to answer the question, yes. let me be clear. i've said this a number of times. i thought he absolutely had it, and i thought that stock would be 420 within a week or so, wrong. on the way down, we talked about, you know what lost credibility and 280 is in the crosshairs and here we are basically 290. so they've gone from a position where they get the benefit of the doubt with everything to now everything is under the microstone, and i think the 280 level is absolutely now in play. >> if anybody can ramp up easy volumes it's bmw it's about a new competitor, and i think the chevy volt is a competitor also. so my view all along is to treat this as their zero-competition out there for a company that had

a big head start and has done nothing with it is a big problem and you throw in the valuation and through the execution. forget the balance sheet and i think these are always the issue. >> elon musk was the story and there was always this competition on there bmw, it was for quite some time and it's about losing credibility now. it's no longer an e ln musk story and he's no longer a tailwind to the stock is in the cards very quick le. >> the of what is that on the stock right now. here's jim ham is back and find out wt they are at the top of the hour. more fast still ahead. so listes taking another look at your overall financial strategy. you still thinking about opening your own shop?

every day. i think there are some ways to help keep you on track. and closer to home. i'm all ears. how did edward jones grow to a trillion dollars in assets under care? thanks. by thinking about your goals as much as you do.

welcome back to "fast money," check out the work day sinking in the after-hours session. workday is one of the best-performing cloud stocks and one trader is betting there could be a storm brewing in the space. let's get to mike ko in san francisco to break it down hi, mike >> we were looking at oracle today that was trading two times the average put volume and it was a purchase of over 1,000 of the september-46 and 43 put spreads and ultimately 3,000 of those traded by the end of the day and someone making a bearish

bet that it would solve by 6% which falls on the 21st. it points out that the company reports earnings on the 13th and the average move on earnings is also about 6% and six in the last eight quarters that seems to be to the down side and that's what the trader is betting on >> mike ko in san francisco. >> up next, we have the final trade. stay tuned we just got married. we're all under one roof now. congratulations. thank you. how many kids? my two. his three. along with two dogs and jake, our new parrot. that is quite the family. quite a lot of colleges to pay for though. a lot of colleges. you get any financial advice? yeah, but i'm pretty sure it's the same plan they sold me before. well your situation's totally changed now. right, right. how 'bout a plan that works for 5 kids, 2 dogs and jake over here? that would be great. that would be great. that okay with you, jake? get a portfolio that works for you now and as your needs change from td ameritrade investment management.

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it is time for the final trade. let's go around the horn timothy? >> well, we have a september or not, i like at&t just on valuation support. at a time when bond yields are looking better karen? >> yes as we are trying to lift the things that are cheap in this market, all of the airlines, but i think delta is the cheapest in terms of value for the great company. >> stephen canopy growth. i thought i was laid out once late and it is up 25% so far and i'm staying long canopy growth, cgc. >> wish him a happy early birthday and coco beware

>> tyler matheson's birthday today. >> get out of here >> he sounds like a country singer he's trading like it's his birthday and look at hfc and brki tthupde >> thanks for for us thanks for watching. see you back here tomorrow at 5:00 "mad money" starts right now my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now >> hey, i'm cramer welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job is not just to entertain you, but to educate and teach you, so call me at 1-800-743-cnbc, or tweet me @jimcramer. when apple became the first american company to join the trillion dollar club last month, i told you its rivals wo