fire gone. shares are up now 36%. we are frantically trying to figure out why that's the case looking for news from the company trying to figure that out back to you. >> okay, adidi thank you. mike quick final thoughts. >> strong rally. the market lacked follow through on the upside. 2% spread on the low to the high. >> morgan, thank you see you again tomorrow "fast money" begins now. "fast money" starts right now. and you're looking at a live shot of a very snowy new york city where the snowstorm has wreaked havoc on the show. live from cnbc headquarters in inglewood cliffs new jersey. the weather is having making it hard to us tim seymour in las vegas brian kelly and steve grasso who made it to the nasdaq market site good to see you all tonight, guys safe and sound. tonight check out shares of nvidia crushed after hours

the company reporting earnings many called the semis the key to the year end rally we tell what you the sell i don't have jo means. one strategist says don't hold your breath for a dee any time soon look at shares of nordstrom sinking in the after hours session on the earnings report and it's it's just the latest retailer to get wrecked. macies down 15%. kolls down 11% target down 8% and wal-mart down 5% but like the last song last christmas we saw a big year end rally in the group are the retail socks stocks on sale ahead of the surge. steve grasso you made it to the nasdaq you get the gold ribbon. you get to kick-off the show. >> i think it's a problem with retail they've all been up on the year. but, you know we had apple warning about the who will dan season amazon warning retail is a big part

they had a big run thus far this year yopg they are out of the woods and i think they are in for more selling heading into year end. >> brian kelly some people questioned whether or not the retail rally we have seen was based on fundamentals or a technical unwind of a long amazon short bricks and mortar trade. >> i think that was the spark here and then there was the hope that we had the kind of year-end holiday rally. but based on the numbers and the wal-mart numbers we saw. wal-mart numbers were fine but people think that perhaps top lines is topping out. you look at wal-mart you look at nordstroms and it doesn't paint a very good picture. the one thing in the nordstroms report that i thought was interesting is nordstroms rack did well without that things would have been not so great. that makes me start to look at something like a t.j. macs maybe this this environment t.j. macs is the beneficiary. >> i think of pete najarian with

tj maxx. do you go to the skounlt thinks that's the best discount. >> i thought that for a long time and i still think that. when you look at tifrpt retailers obvious lip near different entities when you look at wal-mart with 56% of the revenue after just reporting of coming from grocery, mel, that's a lo low margin that needs to be kept in mind especially when you compare wal-mart with a target or something. but absolutely i think the discount erps -- and i thought that for a while now because even though we had -- we did have the strong move in retail to the up side and was finding against a lot of the selling we had seen in other areas. i think at some point some of the names look elevated. and i think wal-mart is one. it seemed like everybody refell in love with the whole wal-mart story. but when you look at wal-mart and compare to target for instance and look at where pe levels, the pe levels of target is invitely lower than wal-mart and they have better margins you have to go throughout the space and tri to make your best

picks in terms of the discount names that you prefer and what the makeup is of the various companies. i think you have to use that in your favor and because of that because the fact that target you've only got to% in grossry, that doesn't hurt the margins as much because of the better margin areas tj maxx, they continue to go higher and higher. the strength they have in the management team they've got and of course the home goods aspect of it as well has been something vrg. and they're slowly but surely trying to build that ecommerce end as well. that's something that has to be recognized and saluted in terms of tj maxx. >> tim you've been in and out of a few retail names, macy's l brands where are you right now. >> first of all- on wal-mart and target, i'm not in love with wal-mart to be clear ultimately this is a dynamic where i think the cost base for a lot of the brick and mortar retails continues higher on the labor front. wal-mart continues to have to compete on price and trying to win the grocery war against amazon who made this they laid down a flag in the ground.

wal-mart you'd be fading in he strength and if anything i don't like the valuation i think it trades expensive to itself back to you nordstroms, first of all, people want to see these guying growing online. the online sales are up 20%. that's disaping still 30% of the overall sales. that's constructive. people want to see the change in tide for the department stores remade some business i think macies's has done a better job the sell jf? nordstrom. anyplace a two or three day event going into the numbers and it's extraordinary and i would make an argument that there is getting to be value there. >> what's amazing though is that macy's put up a good print and it's down 18% from when it reported earnings. so mark means to me that it doesn't matter what these guys put up there is the trade where you open up the show with where people are just mass exodus out of retail again and maybe going back into amazon. >> but hold on maybe it's not so much taqle maybe part is technical. maybe there should be concern about the u.s. consumer. b.k. you point to this auto

makers home builders it's not like every indicator of the consumer is going gang bust zbleers we see things slowing appear add into it some of the cost pressuring. trucking starts to cost a little bit more we heard about wages going up and bernie sanders what he wants wal-mart wages to go up. as pete mentioned they're in the low margin business. all of a sudden you have cost pressures coming in. i want not a great environment add into that interest rates going high are credit card bills going higher it's not -- they don't have the tailwind they use fd to have. >> melissa, we can't impute what's going on in auto and housing in terms of the entire consumer the consumer is not rolling over the consumer has never been -- i would argue in a long time in a better place in terms of confidence consumer confidence is near 20-year highs. you have labor and wage gains that we haven't seen since the crisis and to say that because the companies are figuring out the business model gnat consumer is rolling over autos had a specific su issue

before ford auto sales are not the same as talking about the retailers. >> we need to double back. we have a lot of box we need a double we need a double with tim and b.k. >> you can -- you can draw the line between them. particularly looking at earnings here earnings are not 80. in the retail sector top line is not great in the retail sector at best -- at best wal-mart's a top line is flattening at this point in time. so you know, at some point in time you have to say you know, there are things that are slowing down doesn't mean that the consumer is dead. just means i want not as great as six months ago. >> and amazon was probably the one place where they warned on the holiday season you should be concerned backup but everywhere else when i hear about apple warning also about their outlook, first of all that was emerging markets fx head ntds that's what's going on in the auto sector has been going on for two years. the auto stocks and certainly the story despite great numbers by gm, decent numberspy ford has

not been he rewarded by the the market en a the housing market in-housing builders take has been home depot. you can't tell me those guys aren't beating on the terms of the top line, home depot ultimately on the multiples. >> home depot beat in the third quarter but didn't raise the fourth quarter commensurately sfla we have said the consumer is falling apart here. come on. it's not even close to that. >> it's slowing. >> this is a retation. k.b. homes is. >> out here. >> based on lumber costs lumber costs has collapsed interest rates are lower now we're moving sideways. this is getting a home builder on a dramatic sale this is about rotation not about fundamentals >> for more on nordstrom and the retail space let's go off the charts withed to gordon of trading analysis.com who is over at the plasma. there you are, todd. >> hey, melissa.

>> magic. >> how you doing obviously not a good report here for nordstrom. down almost 9% after hours the options market was pricing for options expiring tomorrow covering the earnings a five 3/4 move higher or lower that's what we call the expected move. down over five from the close about $59. we have exceeded the expected move, obviously bad news thanks, todd, right? so if we get off the daily chart and look at any kind of technical support in nordstrom, jwn i will show you there is flip over here and see the breakout in nordstrom -- i was right around the 53 to the 54. so we have a human, huge channel, a huge consolidation that broke, shorts that are caught we use this as a synthetic support level. this is where we come back to now at about the $53 region for the technical stratder analyst like myself we better hold that. because what was resistance

become becomes support if we start to break threw 53 that's a problem for nordstrom just to put this whole kind of retail conversation into perspective i'm seeing hope, god strength in retail, the xrt. massive consolidation here underperforming the s&p. the s&p traded to new highs relative to the 2015 peak. but what i'm seeing just recently in the xrt is encouraging. this right here is the xrt -- i'll try to draw that in -- into the s&p. if this chart is going higher xrt -- sorry that's ugly -- is performing better than the s&p and you are seeing that relative ratio begin to move up and there are strong names in there auto zone, alta beauty and wahl greens if we can all of a sudden kind of get some support and start to move higher perhaps that retail trade could catch up not all bad on the retail

secretarie >> i'm sorry, todd you're saying if we see strength in the s&p 500 then we see the retail sector show signs of strength too. >> i think that's going to be a tough one to say retail leads the s&p high her for sure. >> for sure. but we are reliant on a overall market move higher to trade xrt to the upside. >> i always use the index to my guide. my particular style of trading and analysis another thing i want to put in front of you is on the daily chart moving up to the 2015 highs. you see lamont of symmetry that's what we technicians look for. this was about a up. this was $6 and change we are moving up you start to see the pullbacks be similar in length which is showing some pattern, some rhythm and structure which again if the market stabilizes perhaps xrt catch up trade goes to work i'm constructive. >> pete najarian i want your take on todd's charts with you

trade xrt to the upside. >> i would say this you want to pick the individual names. when you look out at the names i think there are brand names and then absolutely specific names that i think can do much better. >> are you going to say target >> no, actually, what i'll go with a brand lulu lemon the other day i pitched will you lieu lemon yes had it has a high pe but looking at growth and the story there, that's a name that doesn't have neermly will the international exposure even though that's an area they need to grow. us centering and tom tim was talking backup we have not seen the u.s. consumer fall apart to tim's point they're still going out and shopping if you go brands that's one of the brands if you look at names, when you look and tim brought up home depot, i'll give you an example. that was a $210 stock now at a discount 15% off the highs that's one of the names. i already own lowes but now i re-look at home depot.

i thought it was in front of itself and now it's giving an opportunity again. because i don't think that they're getting hammered just because the housing market -- where they are right now rupp, i think home depot still serves a different audience than just specifically the housing market. and if you go over time you see, home depot, the stock performed significantly differently for instance than the nlders. >> i go to the veg berry, tim. >> i was going to say, the vegas boys are totally in tandem here. i like what pete has to say. in response also just to todd's charts i'm not pushing back on todd i would say the good news for retail is the xrt since christmas is flat to the s&p think about it we have gone a place where the businesses had existential issues that were going out of business or not see them compote with amazon it's a different world by the way, going into a holiday season and if you remember the xrt outperformed the s&p by 18 to 20% through the summer it's given some back but i just think people are

overdoing. npl brands on the special it i retail side which has fwten its act together it's relative. but look at the chart back above the 20 oh if it holds that bullish. >> check out nvidia getting crushed after hours. we are getting ready for the conference call. we'll bring you the latest details. plus another facebook fail, new reports about the lack of leadership at the social media giant through a year of turmoil. what can facebook fix? the traders weigh in and the john boehner back cannabis company acreage holding going public in canada today the ceo kevin murphy joins us live much more "fast money" on this very snowy night, right after this causing a lack of sharpness, or even trouble with recall. thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered...

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allegations of of mismanagement laid out in "the new york times" expose sturk rk on the defensive saying they are working to make progress on the issues and that the issues of manipulation and the sharing of fake news on facebook are never entirely solved >> i've said many times before that we were too slow to spot russian interference, too slow to understand it and too slow to get on top of it and we have stumbled along the way. but to suggest that we weren't interested in knowing the truth or that we wanted to hide what we knew or that we tried to prevent investigations is simply untrue. >> zuckerberg on the conference call today also discussing what he called a blueprint for content governance and enforcement which he published today saying the company is taking steps to be more proactive rather than reactive and working on reducing the spread of sensation alist content. >> in general there are issues

here we were behind on i think a lot of the critique of the company is fair and a lot of the feedback has been very important for us to take in order to learn and do better because we feel like we have a responsibility to do that. and that's our primary goal here. >>en and now responding to a specific allegation in that "new york times" report, zuckerberg said that both he and sheryl sandberg were not aware that facebook had engaged d.c. consulting firms definers to work for them. "the new york times" laid out how that was related to spreading misinformation. >> julia aria boorstin in los angeles. what can fix facebook? pete is this one an investable story or b a tradeable story in your view. >> i'd put it on the investable side, mel. and the reason i would say that is this. what the problem has been is this has been a disaster since the minute the news really broke. and as zuckerberg points out, they need to to be more

proactive than reactive. that's the part of the problem they have gotten reactive in terms of -- they told us how much money they were going to spend. that took the stock down further, right because then the concerns were how much will seven they have to spend to get here? i think what zuckerberg doesn't understand and what the market doesn't understand is this is going to take time what i mean by that is they're going to have to prove to us that they have clean up their act. and it doesn't seem like they have because it seems as if facebook finds itself in front of folks every couple of weeks we're hearing a story about something. and because of that that just remains and lingers as the problem. then the stock continues on this downward slide i mean this is a $200 plus stock traying in the lower 130s, 140s. when you look at 19 times though, look at convert calcium that do have growth. and you see what's going on with instagram versus the

competition. there are bullish things to look at but facebook itself has been the problem. and that's the headache because of the fact that they're going to keep having to spend more and more money. >> right. >> and they don't know how to fix it pete you had hit it on the head they don't know how to fix it. they can't tell us the costs every time they think they fet above water something drenches enemy. >> it's whack-a-mole. >> it's whack-a-mole they always have a problem down 18% year to date. the one reaping the benefit for the bull's-eye for social is twitter is up 38% year to date somehow they avoided this. i would continue to avoid factual basis, go to a lateral play wirt twitter. different game, different scenario but working out better. >> there is a line in "the new york times" article this morning that basically said to the effect of what's happened at facebook has fractured the political skens us that protected facebook as well as the other big tech companies out there. meaning all of a sudden, reining

these guys in has become a bipartisan issue both sides see a role for government to play in the future of the big tech companies. and what does that tell you bk, maybe the best days are behind these guys in terms of making money or the easiest days i should say. >> it reminds me of the virmt after the financial crisis with the banks. they were the bad guy in that particular case. and i don't want to get into arguing who was or wasn't. but it reminds me of that. secondarily, i have you this as we are at peak centralization of the web. westbound 3.0 coming online and that's at threat to fischer's business the fact that web data is not not going through their servers anymore means they have less information to sell to advertisers. and until they solve that problem i think facebook is a no touch. >> por for more on the facebook fallout and what management got wrng go to cnbc.com. i'm melissa lee and this is "fast money. here is what else is coming up from a snowy new york city

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that's built to handle all your apps. ♪ ♪ the ibm cloud. the cloud for smarter business. welcome back to "fast money" appear wild day for the market the dow accepting 300 points at the lows of the session. and then reversing ending up it 00 pinpoint. ylan mui has more on the trade war. ylan. >> melissa, a lot of confusion over the status of negotiations. let's start with what we actually know. we know that top u.s. officials and top chinese officials are talking. i confirmed today that treasury

undersecretary david malpas who heads up international affairs he held a video conference call to prepare for the g20 we know china sent a letter to the u.s. outlining its position. question don't know exactly what the position is. the right certifies reporting it includes 140 points to negotiate. we do know that broadly speaking, that letter is unlikely to move the ball. there was also a report in the ft today that u.s. trade representative bob lighthizer told industry groups that the $$260 billion or so not faxed is on hold until after the g20. in a statement to cnbc hips office said lighthizer made no recommendation that is future tariffs are on hold. the plant hasn't changed at all. and any reports to the contrary are incorrect. guys, my sources are cautioning that all of the nuggets leaking out are part of the normal

process of preparing for a big meeting between the leaders. but we know this is a president who likes to operate off the cuff it's significant that his administration appears to be taking this meeting seriously. back to you. >> ylan, thank you ylan mui in washington, d.c. >> tim seymour the problem is lots of little bits get leaked out. while this may be par for the course on trade negotiations, i don't know if we are used to this much information and trading every tick. >> and i don't think the market has any confidence in the information. i realize the market is moving and we're getting gyrations here or there but it point i want to emphasize this is not about manufacturing jobs in a rust belt tralt. this is technology transfer and global strategic intentions. the irony from a market perspective. -- or maybe good news forget irony. emerging markets and china outperformed the s&p since october 1 since the volatility

we always talked about the rest of the world when does it catch up to us you know we're effectively seeing that. it's not like they have done well on a net basis the markets are sideways but certainly the u.s. is underperformed here and that is it something that people should think about now they are trading. >> to tim's point, melissa, when you look at alibaba off the october lows alibaba up 21% off the lows against amazon up 7%. against s&p up 2% or 2.5%. you look at all the large cap china tech plays, that's the way to play it because the worst seems to be out of the way or at least it's getting a little bit of a pass for a couple of months maybe. >> wait, wait, the worst seems to be out of the way. >> i would think that most of this stuff has to be priced in to a certain extent we were worried about hitting january one. >> you think the next round of tariffs is providesed in. >> the next round was priced in. and today you got a reprieve and

people said already maybe dip the toe back in. they were providesed in to the extent that they could be without actually taking effect. >> brian kelly sitting next to you wants to smack you right now. >> i'm so skeptical of this whole thing. >> where is your box. >> there you. >>reporter: maybe they were priced in maybe not. but i'm skeptical the leaks come out every time the market is down how come these leaks don't come out when it's up 200 or 300 points i'm skeptical anything is going on i don't think we are going anywhere. >> pete, what do you do? >> well, you know, i think you still -- always go for quality, mel. we know the story every one of the guy is talking about it. bk makes a goot are good point we always hear the talks when the market is down and we were down significantly today. down over 200 points only the watch the market rally back. you look at quality names that did move to the upside and some of the names we do know some of the results of, even with the clarity not being there for for instance, a caterpillar.

as inexpensive as that stock is, the reason it's trading where it is right now after the nice move today, the reason it's there now is because of the uncertainty going forward. but at least there was some reprieve today that's something i think you hang your hat on but you go to quality. look at jp morgan obviously buffett gave help to that bump today. but he went for quality which is something warren always oh does. when you look in the market we have the days down 20 oh points, whether the president wheats tweets or some story out there exists or not. >> what did you buy then what did you buy. >> i bought the eem today. i had pieces but i add to the eem today. i doenl believe in ge that's going lower. >> still ahead talk a chip wreck. nvidia crashing after the earning report and bats fight back. ten cent sienna rallying after the kb last few months we tell you which of the traders

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welcome back to "fast money. chip maker nvidia moving 17% lower on the after hours session. the conference call getting ready to kick-off. retires get to josh lipton in san francisco with the latest. josh. >> an important forecast here that obviously disappointed investors. the company execs saying they are dealing with excess channel

inventory during the post cryptocurrency boom. i will bring you the comments. reuben roy of mkm his point to me was that investors expected a lower guide. but the magnitude we saw certainly below the whisper numbers. he notes gross margin for q 360 pft 4% verdicts the guidance of 6 it%. he noted the data deaccelerated you can bet analysts have plenty of questions on the call mitch steeves at rbc he told me he doesn't think the report changes the long-term thesis on nvidia but does materially change the company's expected growth rate. that's a question says every investors have to answer how much does it decelerate in the quarters ahead gary mobilely. this follows a quarter of excess and cryptofollowing off a clip and he said the product space seeing faster than expected adoption the call just started we'll be on it and bring you headlines as

they come. back to you. >> thanks, josh in san francisco. as you no he by now we are getting hit with big snowstorm here in the northeast. unfortunately guy adami couldn't ebb make it to the show but he was so excited about nvidia in the after hours crush we see in the stock he decided to call in from ineffective his snow mobile we have n have individualia we had a warning for a matt the data points are not lining up. >> hi, mel and everybody and this is -- if we make it to january 12 years i've never missed a show this is a first. number one and i've never cursed on air and i'm not going to start now but i'm telling you something, that the people in charge in new jersey and the surrounding areas clearly were not prepared for in but i digress. nvidia the other night cocoa beware did "options action. i made the comment this is not

an environment to play earnings on multiple stocks i didn't know if it was up or down i knew it was one of those you have to sit on the sidelines what does it mean. put it on the conviction buy list back in october they have to rethink as to a lot of analysts, the 20% guide lower for the fourth quarter is significant. i didn't realize nvidia is a cryptocompany. i love the fact that they blame it almost entirely on that stocks overshoot to the up side and down side. what you hope for tomorrow if you are bullish is that it trades north of 50 million shares about 3 and a half times normal volume and maybe we see a cap it laer to become bottom i got to tell you the although the 168 is important you should ukd see it down to 135, 140. >> we've backup hearing about the slowed willingen from cryptodemand for a while about but to be fair they blame slowness in data center which could be a read through to intel

as well as gaming. >> this is not about crypto. it's a small part of the business anyway. cryptohas been down since january, february, the highs so it really shouldn't shock anybody at this point in time that demand from cryptois down perhaps they made a mistake. preps they overbought the inventory too much and they just didn't realize it. they are trying to blame it on a small part of the business. >> if they are blaming it on cryptoit makes me nervous about the environment that they are operating in i naught the biggest headwind for nvidia was trade and it's not trade it's game and data centers if gaming and data centers aren't performing you really run out of room to pay that premium for growth so i'm very shocked by the earnings and very surprised that it's trading down this nuch and disappointed as well. >> guy we are let you go to you can focus on steering the snow mobile. >> i'm telling you be mel, you know when i get fired up -- that's a good idea.

>> stay clear of guy, nujs. >> i'll see you later. get home safely. for more instant analysis on nvidia and the semi space. let's get back to todd with the plasma pretty ugly chart there. >> it is and the options market we're expecting -- they are $15 move higher or lower. expected move again. we closed at 202 in nvidia puts you down about 185 expected move, take off $20 below that. obviously a bomb of a report here trading down 17% in the after hours. let's just kind of put the nvidia chart in perspective. guy said it. the 170 was key. it actually goes back -- my dates -- right about december of last year. 170 to 172, really would have been a nice support level. but tonight's earnings report took care of that. so we do have potentially lower prices i would say it was a shocker that we came back and approached this level preearnings, no

if you look at the relative strength index, basically if you throw a baseball in the air it goes higher but at a decreasing rate of change at some point the apex sets in and it changes. the approach to this level was a result of lower highs decreasing momentum on the way in nvidia. this dr. platz here as i said is a bit of an issue here so guys 130, 140 could make sense. but is all hope lost for the semis? with all the volatility we have seen as a simple minded technician as i like to refer myself, let's put this all in perspective. we're talking from the credit crisis les, 0u9 2009 there's been two major declines here in smh, semi conductor holders. number one 29% number two 27 wers, so far only a 23% decline, right so it's within what we have seen in terms of a downtrend. even if we get to another 27% decline, that gives you an smh

at $82 we are still well off that and even -- that's just the fine normal pullback in the last ten years. it is it catastrophic? no. >> on the daily smh there is the low here we have a nice move up we sold off, made a higher low added some amd to my portfolio yesterday. being drug down by nvidia. but i think we are okay. smh is trading at about 85 after hours. i have to check that quote but certainly not in jeopardy of breaking the lows. the conversation earlier was interesting. you guys were talking about semis and emerging markets fki correlated to the smh made a low two days prior to the nasdaq in the s&p and you see emerging markets, asia, china begin to move up. they weren't participating in the downside i use that as a signal to move in i like it. apple -- obviouslities in very much with the tip and just real

quick, 200-day moving average a normal run drew through. i also added apple, constructive op the space. >> thanks for that todd. todd gordon trading analysis.com tim seymour. >> yes. >> i don't know spp smh that complies $7 from the close today. >> look, on semis 8% off the lows todd pointed out where we are in the pullback. it's constructive we have a bounce but remember we went down 18% in october alone. the em the outperformed s&p off the lows in january you are seeing ditchi seeing divergence. it's now about 15%, where is the loweredship coming from? pete you like liked intel in the past it's a relative outperformer the weakness in data center for invite individualia and see a read through which announced a buyback after the bell today. >> my hufrmg is i think intel is making moves and actually starting to get into a better

competition and winning more in the data center. and also let's look at nvidia report, my goodness, the fact that the gross margins were within a couple% and that cryptowas weak and then you look at deceleration in the the data center that's negative, negative but the stock when you look at where it was at highs in october, it's $130 or more off of the highs now you start to look at nvidia that makes you get more interested because the pe level is getting more appear advertising frankly. >> even though todd said 130 to 140. todd gordon says he doesn't mean to be simple you look at 130 to 140 that nvidia hits that's a lot of downside sflo that's a lot of downside that is tp but with options that's the way to play something like this if you are looking for a zbluns still ahead u.s. pot stock acreage holding making a debut

backed by john boehner, former house speaker. and chinese internet stocks bouncing back after beating up e ad the last month. ontrer says now is the perfect time to buy. we explain when "fast money" returns.

money. look at shares of the pot company backed by john boehner acreage holding. it went public in canada we are joined by the ceo kevin murphy great to have you with us. >> thank you for having me. >> congratulations on the

canadian debut what do you plan on doing with the money how you allocate that to give us an idea where you see the growth is it u.s. expansion full legalization, legalization of edibles in a couple of years in canada? is it abroad how are you allocating the money. >> well, u.s. focused. today with 33 states with medical program and ten of which which have a -- an adult use program, we have a lot of work to do here in the united states. today we have 18 states. we look to expand quite quickly to the rest of the states and be a dominant player in the united states. >> you know recently in the past ten days or so there seemed to be a growing belief that things could or would change drastically in the united states in terms of legalization pete sessions is out. jeff sessions out. a couple of states at least partially legalized marijuana for medical and/or ecreational use. what do you see the landscape

looking like in a couple of years? >> we could not be more excited about the opportunity today. this -- at this moment in time it's like catching lightning in a bottle we have the opportunity now with the house changing over and compassionate care advocates like congressman gist and others elected to office. and others nay sayers historically about the cannabis space are being elected out of office from our vantage point we couldn't be in a better position for 2019 to pass the state's act. >> so it's your thinking that this is a bipartisan issue and you have the biggest voices against cannabis legalization out of the way at this point should that be in your valuation? should that be factored into acreage's valuation? >> we think we have a very fair valuation today.

and today is our first day of trading. we couldn't be more excited about being a public company, having the optionalty with the balance sheet. with that, we're looking to utilize it in a prune manner to maximize returns for our investor base. >> all right kevin you're at the marijuana business daily conference and our contributor tim tim seymour is in vegas for the conference as well. >> yes i am it's a shame i'm not standing next to you kevin but concongrats on performance at this point. the investor haves done well by investing in your company. how should investors judge you tobago are going forward in a lot of investors are concerned about investigative in seccer and understand valuations how can we keep up with acreage and understand you are doing what you said you would we expect you will. >> thank you, tim. ed to we have a pole position in the united states. we have 18 states. and we look to grow from here.

our view is from here it's the goal to capture the rest of the united states. and the rest of the illicit mechanic today this is the fastest growing industry in the united states of america. all that's driving fire is the fair tax code with the elimination of 280 e and better banking for everyone in the industry with that, today the regulated market is a $9 billion mechanic. it estimated that this market today is between $100 and $200 billion in size, in the u.s. alone. it's our -- our ball to drop and our goal now is to capture the rest of the kr he. >> kevin thank you so much hope you check back soon and give us the progress report. kevin murphy of acreage holdings on the canadian market debut tim is long a number of names and sits on the advisory poured

board for three cannabis stocks. for all of his disclosures you can go to fast.cnbc.com. you're at the conference what are the themes will. >> acreage is coming pushing harvest, jardan there are enormous capital markets that speaks to the interest and the opportunity. this is the biggest conference by far this growing industry has seen and dwarfed any one of its kind the sophistication of the investors and frankry the operators i met with i met with 15 companies dedicated consumer brands companies the stuff most interesting to me is what i see in terms of otc pain, wellness, again, led by consumer products veterans frankly who build companies that are around for a long time sitting side by side everybody else. >> the pharmaceutical market, pete is enormous, the use of cbd, the non-cannabis component. are you in the conference or sitting by the pool. >> i'm in the conference and

involved similar to tim. i'll tell you what's interesting. go back three years ago there were 50 booths now 1500. that gives you the a a little bit of the scope what we see and tim has talked to this many times. i lean towards the medical side of what could be used here cbd oil, no thc some of that idea there are so many different ways the most difficult thing is we have to deal with the legalization aspects of it but also trying to figure out who is going to win in this whole thing and how do you put on valuations on some of the companies? that's making it complicated and that's why there are so many participants because there are opportunities in every different aspect of what the cannabis really does offer us. >> okay, guys we have a quick update on nordstrom earnings let's go to eric chemy for the details. >> nordstrom shares hit in after hours on weak revenue guidance for the year for the current quarter quick clarification. looks looks like they beat expectation on eps

earlier a company putting out expectations compared to an unadjusted numbers which would have been a miss bottom line they beat by a penny but the shares still down on the guidance. >> thanks for chafrg clarifying that eric. if if you can't get enough the weed trade you're in luck. there is jim talking to the ceo of another pot company that went public still ahead, jk.com soaring. getting a boost with other chinese internet names and one trader bets it could pick up steam when it reports next woke. live from cnbc headquarters in a snowy new jersey much more "fast money" still ahead. xfinity mobile is a new wireless network

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when you buy a new smartphone. xfinity mobile. it's simple. easy. awesome. click, call or visit a store today. the. welcome bang to "fast money," jd.com soaring with other chinese internet names and the options market expects bigger moves for the stock reporting earnings next week let's get over to brian sutland at the cme with more. >> definitely an uptick, 20% increase in call volume. traders praying to the upside. a lot of activity in november of options expiring on friday people panicking to the upside looking at earnings neck week on monday implied option move is about 6.6% meaning the stock could move 6.6% either direction. inheritically it moved about 4.5% we could get significant movement and the biggest trader was the december 25 call bought for about $1 a little high are basically saying i'm playing the

upside the break even is $26 or higher. definitely more significant move to the upside could happen in the stock at least that's the way options traders are playing. we have seen the retail chinese side looking like they want a bottoming process. all the stocks hit hard. so people playing options to play to the long std in some of the consumer chinese names. >> quickly tim would you buy any of the stab or bats? i don't want what you use. >> i like the. stab i'll go with stab. look, i think that the valuations in megacap tech china especially in ten cent are way overdone to the downside and look interesting the answer yes. >> i like stab to it's more forceful. >> sort of. >> brian thanks, for more "options action" check out the llhow tomorrow 5:30 p.m. eastern time up next, final trades. >> announcer: "options action" sponsored by thpg think or swim by td ameritrade

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mfxi as well. >> that does it on fast. see you tomorrow here at 5:00. if you're on the road be careful it's slippery. "mad money" with jim cramer 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 save you money. my job is not just to entertain but teach you. so call me at 1-800-743-cnbc or tweet me @jimcramer. i know the glass half full motif has become a cliche, but