i think at 7:00 a.m. 7:30 a.m >> early morning for you >> but that does it for -- oh, we've still got 20 seconds there we go. other topics as well coming up is watching overnight. we did have a lot of bit of a decline in shanghai. >> the general vibe is that china is showing signs of a bottom. >> it is "closing bell," we'll leave it there. >> "fast money" begins right now. "fast money" starts right now live from the nasdaq market site overlooking times square, i'm melissa lee. tonight one top strategist says he is all in on this market. jonathan golub of credit suisse will be here to tell us what will take us to new highs. plus tafs wild weekend for elon musk on twitter at least is he putting his s.e.c. settlement at risk what can stop him now? we start off with the final countdown to netflix earnings. stock underpressure down today adding to losses down about 5% since disney

announced the new streaming platform last week the stock had been streaming higher this year up 30%. most of those gains were in the final two weeks of the year. it's been relatively flat since the huge move off the low. as netflix gets red i do report tomorrow after the bell, will it be the catalyst for the market looking for? what tone will it set for the rest of tech particularly growthy tech >> four questions there. >> can you handle that >> ki because it's monday and i'm fired up we were beginning this morning on "squawk box." >> yes >> you go back january 27th when netflix reported close at $350 today the stock basically closed at $350. the great part about last quarter, national adds, stock went lower what's my point? well, we keep bouncing up against these levels to the up side the only reason i would be bullibull ish netflix going into this quarter is maybe this announcement over the last couple weeks has reed hastings

thinking they will pull a rabbit out of the hat i think the stock pulls back tomorrow >> what does the implied -- >> about 28 bucks in either direction. that's the implied movement. which is something that the stock has been moving, you know, over the last ten quarters or so i'll just say this it's interesting we know there's this huge spread between u.s. net ads which last quarter about 1.5 million. this quarter about the same. then overseas we're doing 7, 8 million. in the next year or so, we may see u.s. ads just go flat. right? so as people get more into this disney thing, we may see that pick up a little bit i think that's going to be a very monumental thing for this stock when that finally happens. that massive saturation here in the u.s. and they will know whether they have a real competitor in disney or not. >> there had always been a thought you pay a dollar extra to these companies maybe that dollar extra, maybe you choose to have a disney bundle instead of paying that dollar extra to net innics

>> i might but i don't think i'm indicative of the market. i think to what extent are people going to have room for two or three services. i think some people believe there's room for two or three services finally now that disney is out with this, we're starting to assess the vulnerability of netflix. netflix for its part is not doing anything to have investors more worried than they were yesterday. the company's executing their content continues to grow. right now they're in an oppressive story but if you think about where the valuation is, it comes back to that it's burning a lot of cash had to spend at all costs to stay ahead of the competition. and the competition is closing fast to me, you know, disney's -- i'll repeat what i said last week they're the first of the legacy players to punch back. they're competing on the same kind of faang landscape. this is an argument that citi bank made as well. think of all the big megacap tech pick the industry, pick retail, pick media it looked like media was c

cowering if they are competing with netflix, at some point you have to ask yourself what's the multiple netflix should be trading on and should they be a lot higher or i think it's more that netflix has to come down to the pack >> or both there's such a wide chasm in valuation. to me, i don't know -- this -- netflix is not a this quarter story, right i guess if they report good earnings, the stock's been under pressure if they start to report weaker subs with i think people will be sort of freaked out. even though the product isn't there yet. i think the tectonic plates are really shifting in this business though at this valuation, i wouldn't be -- i couldn't be long netflix. >> here's the question netflix, the move in netflix as we pointed out happened really at the very beginning of the year then it sort of went flat. is it indicative of what is

going on in the market and what sorts of stocks are favored in this market environment as we approach record highs zbhen do you want to be in these high valuation stocks or is there a question around them at this point maybe a cycle into more of the value area. >> i look at netflix and say it traded up to the 375 level didn't like it it's been pulling back the broader market obviously hasn't done that although the broader market seems to be stuck at this level. you haven't seen the rollover. could netflix lead to the rollover of the broader market perhaps you did see that back in the fall, if you recall. the same thing did happen. netflix reported a fantastic quarter if you remember. stock initial reaction was higher spent the rest of the month going lower. i'm not suggesting it was causality, but it could happen could it happen again? yes. i'll say this again. the only reason i would like netflix is does reed hastings see what's going on with disney and say something that will further spur this? that's the only reason i could see it from the upside.

>> from a market's dynamic though, netflix has been trying to get back to the all-time high levels of june the 40% selloff into year end was a lot more than every other company. that came down from probably another 10% higher it's 20% after the highs after having a massive rally back. but this is a reallily that's back from being one of the most beat up stocks going into the year end so when i look at netflix to me at this point from a volatility and risk reward perspective, what stock do you want to own? got a 7% implied vol there's a lot of vol wrapped up in this stock that do you think there's a lot of upside on a company running at a multiple this high with competition bearing down on it >> one other point investors like that price increase they announced on that last quarter that may be the last price increase this company is able to do on a monthly basis. >> really? >> are you making a prediction >> look at your cable bill

do you pay more than that for your services? no, you don't. as a cord cutter, you'll have three or four services like you do on the cable bundle your bundle is going to look similar. it's going to say hulu, netflix, disney plus. that's what it's going to sha sa i. and showtime and hbo will be part of pit i don't imagine this company can raise pricing again. don't forget that stat we had of all the disney content, that's happening in 2019. so we're going to see churn. we're going to see u.s. ads go flat >> i think automatic billing has changed what that price increase is i think a lot of people have that charged to their credit card every month and they don't even pay attention unless it goes up five bucks, it's not going to be a blip on their radar. back to what reed hastings can do do you think he's got a rabbit to pull out of the hat here? >> i don't know that but you've got to believe that clearly he's watching and seeing what's happening with disney over the last couple -- disney added $23 billion of market cap.

that's a staggering number it comes in the wake of them taking on netflix head on. i do think he has to address it. i just don't know if -- what it will take. >> nothing to do right now they can find spotify. they can add some different offerings. they can do live sports. there's a lot of things they can do to make that offering stickier and more interesting. because we know their catalog is not great. their original content is less than 8% of their viewing hours unless you want to go back and watch 1983 reruns of, you know, porkies or whatever you're watching back then >> don't transvert your own stuff onto other people. what i'll say is we just heard on the late in from "closing bell," they started talking about "game of thrones" and the amount of numbers. in my household, that was on i don't know how people get their hbo, but you can't tell me there aren't other properties out there and again look at at&t and the time warner properties and some of the parts. if you're talking about pure content, it's not netflix, i don't think.

i give them a lot of high marks for what they've been able to do there are other pure content plays that much more undervalued. >> you've got to wonder. when we look back at this period, are we going to say was netflix the cable package of the '90s where it had every channel, every content you want, all the series, all the movies it's everything to everybody and we move away from that model and go into skinnier bundles like espn plus, like disney plus you know, whatever nat geo is going to come out with >> that makes perfect sense to me that it evolves that way. i just don't see how competitors like a disney cannot make a dent here >> our next guest says whatever happens, he is all in on this market let's bring in jonathan golub from credit suisse what's your price target for the year now >> $30.25. it sounded so exciting and now it's like 4%. >> are you going to revise

higher because you want to go all in for 4% upside. >> yeah. i mean, the truth is i think the real story here is i think that the market is not going to be constrained by relatively modest earnings and that the surprise this year is that you're going to have okay earnings and okay economic backdrop and stocks are going to continue to rerate anyway which is what's been happening i think investors have been offsides on this because the earnings aren't spectacular. and the economic data is not spectacular. but yet what you have is the fed is out of the game recession risk looks like it's off the table. trump isn't fighting on china. the volatility is down and that backdrop is pushing stocks higher. >> is there a specific catalyst? it sounds like you're thinking everything is going to be kind of okay. therefore it would be a drift? >> if there's a catalyst in the near term, it's all this conversation of a earnings recession. i think it's going to prove to be way off the mark. right now the consensus view is you have a 2.5%, you know

contraction in earnings. the average company or median company is about 500 basis points stronger in terms of earnings growth than that weighted average number. partially because of taxes and oil prices i think a portfolio manager is looking. chances are that the average company's portfolio is going to be up in earnings. and i think they're going to say what earnings recession and that's the way it's going to feel there's no question some of these big tech names are a drag, energy's a drag. and taxes year over year. >> that's your prerogative but what's the bear case i know you examined what could go wrong. >> the biggest bear case is probably that we got, you know, lulled into complacency on inflation. one of the things that's driving the market higher is wage inflation actually came down, consumer inflation came down and there's a reason everybody thinks the fed is out. because it looks like this cycle is going to go on forever. if all of a sudden that

reverses, that's probably the workforce that could happen. if i look at the earnings data, there's a number of -- we were talking about this before. there's a number of these big tech names that actually have some hair on them in terms of their cost line and there's a possibility. now, do i think that this quarter they're going to be a beat i absolutely do. but maybe the expense is a little bit higher. maybe you want to rotate to big caps >> so that's the bear scenario where could you be wrong to the -- that you're underestimated where it could go what would be the most likely? >> the one area i can't get my head around is all of the optimists are saying that there's going to be this magical second half rally because china's pouring on the kerosene that europe is going to -- is all set up to run to the upside. and we just get surprised that all of these bearish estimates and the leading indicators and the pmis are way too negative. do i buy that argument

i don't think i do but china actually lights up some of the stuff. and just look at, you know, like the european banks for example you get a pickup in activity and these things are going to rip. >> what sector dos you want to be in in this environment that you're seeing? >> right now, if you look twoun three months out, i think the big story is the hedge funds are still underexposed volatility came down the hedge funds because they got so beaten up in december were a little bit reluctant to fully rerisk and i think that means this is going to feel very pro-cyclical. you know, if you look within tech, it's hardware, semis but as we move through the year, i think that that cyclical trade rolls over so i think that as the year progresses, it's going to be more like software over hardware i think health care which had decent fundamentals but has been a dog on performance, i can see that turning around as we move past this kind of, you know, beta trade in the back half of the year >> okay. we're almost at the back half of the year, by the way

it's not too much longer before this rolls over in terms of the sectors trades not the markets good to see you. jonathan golub tim, how do you chart this >> basically consensus is 8.8%, he's actually at 3.9%. a more moderate run. and if you think about where people have priced the last couple of years, everybody thought the last half was going to be the strong part. they knew the first half was going to be tough. it seems to be the same setup here it kouls also be wrong we've either blasted the last of whatever kind of liquidity juice we can, or we have the fed back in the picture >> you added to health care today? >> i did i bought some anthem today just gotten annihilated over the last few weeks this seems way over done we'll see in two weeks i don't think the earnings will be so indicative of anything, but maybe they'll talk about what they're seeing in policy front. we've got some breaking news on notre dame, the fire in paris. let's get to sue herera for the

latest >> thank you very much the fire is still basically uncontained at this hour but we do have a little bit of a glimmer of hope. according to france 24, a spokesman for the paris firefighters says now the two towers and the main structure of the cathedral have been saved from complete destruction. the flames are starting to wane a bit, but he says that three or four more hours are needed to contain the fire but it looks like they were able to tamp down the fire that had moved from the main cathedral to the north tower. it looks like they've contained that and apparently they are going to be able to save some of the cathedral's structure which was the big question now, they have evacuated areas around the cathedral in case some of the main walls collapse. they continue to fight the fire, but perhaps a little bit of good news in what has been a

devastating day for paris and, indeed, the world. >> all right, sue, thank you sue herera at the newsroom coming up, elon musk having quite the weekend on twitter even as he is settling over previous tweets. we'll bring you the latest tweets plus airline turbulence. it looks like there's no end in sight with boeing's issues with the 737 max plane. we will explain. and later, it's weed week on i "fast money. first up, a top analyst joins us to tell us why canna-bliss is about to hit the beauty industry isch more "fast moy"ft ne aer th

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from showtime, hbo, epix... jesus, what happened? ...and more. it's just the tip of the iceberg. upgrade now to get more into what you're into. thanks! just say "watchathon" into your x1 voice remote to upgrade and keep getting more of what you love. welcome back to "fast money. we were just talking about the streaming wars and now we've got a news alert on hulu let's get to julia boorstin with more >> melissa, that's right at&t and hulu just announced that at&t will be selling its stake in hulu back to the company. at&t's 9.5% stake in the company was valued at $1.43 billion valuing all of hulu at $15 billion. at&t says they will use the proceeds from the transaction to reduce its debt. ceo randall stephenson has

talked quite a bit about his focus on paying down at&t's debt hulu ceo saying they thank at&t for their support and look forward to collaboration in the future the key thing is we knew at&t wanted to sell its stake there was a lot of speculation about whether disney which now controls 60% of hulu would buy that stake or whether nbc universal, cnbc's parent company, which controls 30% of hulu would buy that stake. instead, at&t and hulu's solution was to buy that stake directly so that sort of addresses that issue. it means -- disney will still have a controlling share of hulu, but did not sort of effectively increase its share of the company the most important thing here is that disney still controls the voting shares in hulu. but there's no sort of change in ownership structure here hulu itself bought back that 10% from at&t. >> any idea on what the path forward is for hulu.

comcast having a decent minority stake in the thing i'm sure. both sides would want the whole thing. >> absolutely. well, you know, i think it's been discussed a lot about whether disney would try to buy out nbc universal. they're in a controlling position there i think it's unlikely that nbc universal would be able to buy out disney i think both of these companies want hulu to succeed there's been a lot of talk about how maybe now it's just two owners it will be easier for hulu to make the most of assets and expand i think especially we heard bob iger talk about how he wants to make lulu and espn plus easily accessible and even potentially bundle them together at a discount roux lieu's a key part of the strategy here. you've got to think there must be conversations going on between disney and nbc universal for disney to buy out the remaining 30%. >> julia, thank you.

tim, which piece of the pie would you go to here at&t, disney, comcast? >> well, i mean, first of all -- again, in terms of stock picking, i like at&t here. i think at the oend the day they've got an interesting portfolio. people are concerned about the debt profile but we should love what they're doing in media some people think they overpaid for their assets i don't. >> now to a wild weekend for tesla ceo elon musk on twitter let's get to phil lebeau in chicago for the details. >> wow were you on twitter this weekend? if you were, you saw a lot of elon musk tweets they're about a wide range of subjects we will focus on two of them that are germane to the tus la business let's start with his ongoing description of where things stand between tesla and panasonic. remember, panasonic according to reports out of japan is freezing its investment in the

gigafactory. pana cell lines at giga are approximately 24 giga watt hours per year no choice but to use other suppliers for power wall/power pack cells tesla won't spend money on more capacity until existing lines get closer to 45 gigawatt. this has been an ongoing debate at least over the last several weeks last month between what's going on with panasonic. yoong this is the end of the tweets from elon musk or reports from panasonic now let's talk about the other subject elon musk was tweeting about over the weekend it has to do with tesla's

autopilot. he writes, please note that the price of tesla full service driving option will increase substantially over time. that was one tweet another tweet not long after that said on april 22nd, investor autonomy day, tesla will free investors from the tyranny of having to drive their own car. so this sets up a couple of key things to look for from elon musk and tesla over the next week and a half. on thursday, that is the two-week deadline that the judge in the s.e.c. contempt case set for elon musk's attorneys along with the s.e.c. attorneys to give her a written report on whether they could work things out in terms of what kind of rules will be established for his communications on twitter as well as other forms. autonomous investor day, that happens out in california for investors as well as analysts next monday. and then on the 24th, first quarter earnings and that's what people are really focused on. so it'll be a busy week and a half for elon musk and for tesla

and i bet you we'll see a lot of tweets between now and then. >> well, he's already been on fire this weekend. is the tweet about how many cars he'll make in the next 12 months, is that not sort of digging at the s.e.c. ahead of this deadline? >> yeah. i didn't take it that way. i looked at it and i thought, okay i mean, there are going to be people and already there are people on social media saying he shouldn't be writing anything about production models or production targets he's not going to stop i mean, he's not putting out something that is way out in left field, melissa. so he's the ce -- well, he's the ceo of the company product targets is what he has talked about and it's germane to the business i don't think he's going to stop >> all right phil, thank you. phil lebeau out in chicago i wonder what the s.e.c. thinks about whether or not he's going to stop after the settlement >> it's it part of the settlement he's not tweeting

production this is a guy that was told not to tweet and not to tweet about production and not to tweet about some of these numbers that are relevant to the company. >> and you wonder how many of these tweets were vetted supposedly by somebody within the company before they were tweeted. >> i mean, i get -- there's a couple issues. after the embarrassment last month over the production numbers, it's kind of shocking to me he would do this once he says it and we've established twitter is a perfectly good forum in which to announce, i guess if you're the ceo you can announce production targets. to do that in the face of the s.e.c., i don't really get it. i mean, to me the sort of weekly or every ten days strategy change is -- i don't know. that's sort of telling of a management that's in disarray. >> how do you trade this stock with all these events lined up >> 247.5, 248 on october 5th it closed that day at 258. that's in the cross hairs now. things get dicey quickly

so you look at it, series of lower lows, lower highs. into next week, it's very hard at this point given what's transpired to make a bull case unless you think we've absolutely now made a double bottom in turning higher which i don't. the transports getting hit today. check out trucker jb hunt after market i'm melissa lee. you're watching "fast money" on cnbc first in business worldwide. meanwhile, here's what's coming up on "fast. >> i've built a real life pinterest board. i wish you could click those >> pinterest is gearing up for its public debut this week but will the stock be a value trade or a value trap? the traders weigh in ♪ i feel pretty ♪ oh so pretty >> and your portfolio could be feeling pretty after one top analyst explains why cannabis could be fuel for a $25 billion beauty boom. there's much more "fast money"

right after this

welcome back to "fast money. turbulence hitting the transports today as the index drops about a percent. the airlines are weighing on the group as more 737 max flights get canceled united airlines joining american and southwest on the list to announce cancellations during the busy summer travel season. plus check shares of jb hunt on an earnings miss is there trouble brewing in the transports >> well, i tell you. i look at the transports, look at the chart, look at the group as a whole and say absolutely not. i'd say the transports have largely been a part in leading this move up if anything, overbought. on the airlines, you can break down the reality of what some of these max 737 cancellations really mean. and for airlines, if any, people tended to believe this was positive for airlines in terms of capacity and where they could actually be raising prices so the market response to this is a little peculiar i don't think this is changing the fundamentals for the airlines at all.

>> i just mention that it will be interesting to see as we get through earnings season, we know we've had pre-announcements from the airlines but there seems to be a bifurcation. the rails look great and they act great and they are at the prior highs. but the truckers, a lot of them don't look great and don't act great. what's interesting is what is the fundamental read through when we get earnings is there cross current there is and we don't know yet? >> according to the next guest, there's a tale of two transport stocks one looks like a train wreck and the other will drive higher. carter werth is over here to break it down. >> let's start with the index itself got one i like, one i don't like what's interesting is if you look back since the beginning of data in the 1920s, the market has almost doubled the transportation average but if you were to start your meter from 1980 around the ronald reagan recession, it's transports that have been the big winner double that of the s&p. keep that in mind and let's look

at a few long-term charts, few short-term charts. here is the chart from 1980 in log rhythmic scale we can see the drawdown in the early stage. what we know of course is this is volatility at its very best you can see the numbers here down 34, down 28 this is every drawdown greater than 25% and some of them are doozies and this recent one is relatively modest in the context of some of the great drawdowns in a cyclical index. a recession or not type index. down 26% and we're trying to get back to the high what we do know, though, is that over the past three years, the s&p in the transports are virtually identical. a little more beta, the blue line overshoots and undershoots which would be assumed but basically the same result. now, the real issue is this.

we know that the equity market itself is back at the former high and this is a bit slumpish compared to the s&p. and ultimately i do think that that is the risk that we just never quite make new highs and that you do have a fairly well-formed topping out formation after what was a big break in trend that's a tough spot to be in having thrown back like that and hitting your head. in any event, let us look at the following. so this is over the past year and a half, you've got a real winner csx. and you've got a loser jb hunt. in the middle is the transportation average itself. so let's drill down. and now for what it's worth, this looks very self-dealing as though i put this up here before but i don't know what jb hunt earnings were going to be, okay. don't like it and today's action will confirm that. what we have here is this. yes, a well-defined down trend line and for the most part, it is failed, it is failed, it is failed at the line we know what's going to happen

tomorrow turns out it's going to fail again. and i would stay away and truckers in general are not good it's all about the rails, right? the rails have been the leader and this has so many ways you can draw the lines one way, of course, is this. a little bit like the market itself a head and shoulders with a well defined neckline you could have the bigger formation of a cup and handle. but it points to breakout time we know that nsc and unp have already done it. jb hunt if you own it, just get out. >> carter, come on over. evan will bring the chair over thank you, evan. >> so how does ksu look? if there are border issues this someone vulnerable >> of the four bigs, this has the maximum exposure

and it has just now returned wroos all the others have cleared their former highs ultimately i think ksu is to be owned as well. but not as good as nsc, not as good as csx. >> big fan of your work, carter. as you also know, chesi reports tomorrow you mentioned these tops last summer were trading there now. would you rather as a technician and trader wait to see what they say tomorrow after the bell? try to buy the breakout opposed to trying to get in front of it during the day tomorrow? >> good technique which has been a safe technique which is what money management really is about is waiting they'll rather miss the move in disney and then get involved because you risk the reciprocal switch a miss and drop in gap.

so the prudent way to do it is go after the results if you center a little bit of courage, of course, go be fr >> carter, weekly checkup. now within 1% of the prior all-time highs here. 20% downdraft in the q4. now we're up 23%, 24% for the highs. what provides the torque to meaningfully break out of what was a double top prior >> it just gets down to the same old suspects which is to say the super cap names, idiosyncratic names that will push higher or not. we've heard from the banks nothing more to be said. it's off the table a big industrials. they're not really working some are, some aren't. it's really about health care struggling utilitied can't move the needle. it is going to be about the super cap names. we know it's been the circumstance for now almost three years. top five stocks bigger than the bottom 250 so it's how apple does it's how microsoft does.

and they're all a little bit, in fact, we just heard about it that they're all a little soft they're all lacking vigor. >> all right carter, good to see you. carter worth i think carter was referring to dan's maga just now. >> and carter's rarely lacking vigor by the way quickly, if you look at the semis and transports, they've been the vehicles to ride on this wave back frankly, as i would argue until we see otherwise, these guys continue after a small pause taeds higher still ahead, the unicorns are coming pinterest the next coming to go public this week with a $9 billion valuation, sit a value trade or trap? plus pot stocks getting baked on the back of earnings but one top analyst says don't nnbls ul caa-iscod be coming. more "fast money" after this

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welcome back to "fast money. the countdown is on as pinterest is about to make its public debut this week. will it pack more of a punch than wall street is expecting? leslie picker has more on that story. >> pinterest is seeking a $9 billion valuation in its ipo

this week. now investors have trying to decide is that expensive or is it cheap ipo values are decided on a relative basis investors will take pinterest's multiple in this case and are prize value to forward sales and compare that with its peers in the market. includes debt in the valuation but subtracts cash pinterest doesn't have direct peers. but its revenue is generated from ads so investors are comparing its valuation to other ad-based models like snap, twitter, and google companies trade on average around six times their projected 2020 revenue because pinterest also enables users to buy things on its platform, investors are looking at a basket of e-companies as well these businesses trade closer to four times on average.

when compared with both the ad basket and the e-commerce basket, pinterest's ipo valuation looks more expensive at the mid-point it's about eight times projected revenue. this might be surprising to some since the ipo valuation is actually cheaper than the $12 billion it was valued at in 2017 during pinterest's last private round. still seem willing to pay that premium to its publicly traded peers though because top line growth is so strong relative to the more mature businesses in the baskets. melissa. >> leslie, thank you so given all of that, is pinterest looking like it'll be more of a value trade or a value trap and we're talking about this on a day when lyft closes just above $56. $37 below its all-time high. >> dating back to facebook, twitter, snapchat, alibaba nobody has to go out and buy these on the first day if you did not get ipo chair

shares, that's a fact. the interesting thing is this is a public down round. only lost 63 million that's the biggest differentiator from all the other ones to me i think it will be a price after this becomes public. they are going after a much bigger slice of the pie. >> first of all, i have problems with trade or trap a value trap is something that's super cheap. but could get cheaper. >> so she's -- >> yeah, yeah. >> it is >> no, it's like so cheap it's attractive >> a trap is attractive? really >> all right that's a different -- anyway i think it's a trap. for the reasons you just said. why do you need to jump in let's see how they trade give it some time. they do have the dual class structure which isn't a problem until it's a problem

but that is not unique to them at all i would wait i'd say trap >> i have to go trap too i'm not going to start getting into the -- >> i thought this was the clearest game we have. >> it may be, but it -- >> apparently it's not >> we're playing it well as dan pointed out, this is a company that sales are up 60% year over year the losses come down as users have gone up by almost 100% in the last 12 months and good for them being in a space where it's interesting but the multiple, tough. >> i think you're the only person on this page that has a pinterest page >> i do. >> you do? >> ye. >> little known fact >> look at that. that's my pinterest page. >> that's your pinterest page? >> right next to some tanning butter >> that's melissa lee. >> is that justin bieber >> i got biebs >> what's that of you in the middle that's iron man. >> biebs is a fan he told me to

put on because he's a fan watching tonight hey, j.b 250 million users on their way to a billion thoughtful company i say value trade and i have a page >> still ahead, it is weed week here on "fast money. we are bringing you the top pot plays all week long in honor of the 4/20 high holiday plus check out this hot stock 'ltting near its all-time high wel give you the name when "fast money" returns s stop talkg about diversity, and actually be more diverse. as investment management professionals, let's measure up. cfa institute.

let's build a better let's create jobs,ing. build bridges, insure prosperity. as investment management professionals, let's measure up. cfa institute.

welcome back to "fast money. we are kicking off weed week here on "fast money" with one analyst who says the beauty boom of cannabis is coming. the cbd beauty market will reach $125 billion in the next ten years. that's a hefty part of the global skin care market. stephanie, welcome to the show >> thank you >> is there proof that this stuff works? i spoke to the former fda commissioner scott gottlieb last week and he said the science isn't quite there in erm it is of some of the claims that might be made when it comes to cbd products antiwrinkle, antiaging, things like that. does that matter in your estimates? >> the beauty of beauty is it doesn't have to matter, necessarily. it is a bit of a magic potion in a bottle some is scientifically validated but not all. to the thought consumers will give it a try, it could be in

more quickly >> how about the possibility that science will show there are some shortcomings to cbd he mentioned cumulative effects. if you're ingesting it and putting it on your body, there isn't much research out there to show if you apply it many different ways, what the cumulative impact will be on your health? >> that's something we started to look into more. what if it's part of a broader lifestyle. so you may not be getting too much in -- but if you're using it in other creams or products or may be drinking it in a beverage that maybe the cumulative effect or layering effect might be too much if it's just an isolated beauty product and right now the majority of products are the market are hemp based. so it's very, very low grade or even no grade thc. so once we get into the true cbd side of beauty, i think it's going to be something more and more people are going to think about this layering effect of how much i'm taking in >> stephanie, welcome. this is the second annual weed

week on "fast money. great to have you to kick it off. seems like the natural next question is what's going on with the multinationals how do you anticipate these folks who will move the needle in terms of the valuation of the industry what's their strategy? whaevery day, visionaries are creating the future.

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ibm cloud. final trade time >> we talked about media at&t sum of the parts >> karen >> yeah. often similar trade to tim i like cbs i like it as a stand alone but i also think m&a is in its future >> dan >> bank of america tomorrow morning. >> guy >> looking forward to seeing you

on "squawk box" tomorrow you're there >> all week. short week though. >> but tremendous work you do. has nothing to do with tim or karen but schlumberger it's breaking to the upside. >> thauz did it for us fae you at 5:00 for more "st money. "mad money" starts right now 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 cr call me at 1800-843-cnbc the big story today, the dow

dipping 28 points, analynasd