were out on the highs and kind of this low volume trudging higher it wasn't necessarily a forceful momentum move. also, post-fed reactions don't follow through to the next day you saw it in march. >> we will be watching that and that does it for "closing bell" today. >> "fast money" begins right now and mike santolli's favorite song to take us out. "fast money" overlooking new york city's times square tim seymour, dan nathan and guy adami. healthcare is flat lining this year and one top technician is in for the beaten down stocks and we'll tell you which names to buy and zee after-hours action and qualcomm, and those conference calls both under way and we start off with the late-day market sell-off check out the dow down more than 150 points closing near the low of the day this after jerome

powell tempered concerns over falling inflation seemed to raise the bar for a possible rate cut so was the market pricing any rate cut and was the fed move the biggest move to the record rally? guy? >> i do. you weren't here last night and carl quintanilla hosted the show. >> i know! i heard! >> there was so much dovishness baked in and there's nothing the fed can say tomorrow that's not already priced in and the risk to the market is the downside and it was exactly right and it happened late in the day and it happened nonetheless i think the fed is the biggest risk to the market i still think they are and i would like them to remove themselves from the equation for quite some time and let the market sink or swim on its own they've ingrained themselves far too much into the conversation and maybe now at least over the next couple of months, let the price discovery take over. >> i completely agree with that. that makes a lot of sense to me. the risks to the down side are for the fed and i think going

forward this is going to be one of those meetings that you'll never talk about again after today's done and we'll never talk about it again why? because it will not really matter and those are the keys, and until later in the year it is ooh you'll see the inflation pressures pick up. jay powell actually talked about this on the conference call that the downward pressures on inflation are transient and when they start to come back and we start getting close to the 2% number the market will be focused on what the fed's going to do and the talk of a cut is going to be a distant memory >> he was very explicit. there was no reason in his view, in the policymaker's view to move either way on rates >> they know he's going to cut rates and let's be clear, folks, and i say this over and over again. a growth scare is a lot worse than an inflation scare because it does mean that there would be some underlying strength to the economy, pricing power and you name it. the fed is trying to restore asset prices and guy brings this up all of the time and if you look at asset prices we're at a

scary high number and the fed has to do almost a miraculous job while stepping out of the way of fueling it. i think the market -- what dan is basically saying, tomorrow the market will wake up and say the fed did almost nothing and you probably should be holding your breath. the seasonal effects here and look at the adp number is today and look at how weak the numbers were in the year and i think you snap back and people have to be thinking about a fed that nobody has priced in. today was about a fed that people thought might be easing and maybe they're not. >> because the risk is to the upside. >> look at the economy anybody calling for a rate cut outside of the white house doesn't know a whole lot about how the markets function, sorry. >> kayla had reported during the 2:00 hour of power lunch that a china trade deal is likely by next friday according to her

sources. we have that and oil going higher >> how about infrastructure? >> possibly infrastructure >> there's no bipartisan deal before the election. so you can talk about infrastructure, so take that out. jay powell spoke about this in the q and a and yes, there's chatter that can happen in the near future and just paraphrasing, economies don't move on a dime we talk about this a lot, right? and we're starting to see some better data because i think some corporate and sovereigns are starting to say, okay. we'll have a deal at some point in 2019 and much of the enthusiasm for a deal might be baked into the market at some point and let's be really clear about that and i'll say this there's all this talk about an insurance cut. what does that mean about the u.s. economy and obviously outperformed in q1 >> that to me seems like a dangerous situation and we had

the fed to derail the market which it did last year and the world over by the pivot and global central banks did that over the last four months and now obviously the risk is to the down side and not much else whether it be trade and the talk of an infrastructure deal. >> the risk is to the down side for the markets. >> how about the rates almost near zero in an economy that's doing just fine? corporate earnings, doesn't that make you nervous when we hear the talk about fed funds rate that literally topped out at 2.5% in 2007 at the high of the stock market before it plunged 50% and fed funds was at 5.5% and back in 2000 before it plunged 50% it was at 6.5% >> are we concerned we're out of bullets? what's the question? >> it feels like it, right where do we go because we have $10 trillion in sovereign debt all over the globe with a negative yield on it >> i would like to see fed funds at 1% for the concept of normalization and we are somewhat accommodative i know the fed is neutral, but

you can't tell me with a 2% economy. i think the answer to that is i don't want to see rates at 5% because i don't think the global economy could take that and i also think that the inflationary forces a decade ago are the sail ones we have today i think we have a structured global economy and the forces that are coming from technology and globalization. >> to get to the 2% inflation rate when we know that they're entirely different because of technology >> that will never get to those rates and will the fed ever move unless we understand what will bring the inflationary pressures back so we're above 1.5% >> that's what no one is talking about today. growth does well and we get inflationary pressures and i think what about the scenario that always happens in the later part of the cycle where growth is flowing and inflation is picking up and that's a possible scenario that you can look for when you're 12 months out and

that's the most difficult thing for a market to contend with is slowing growth and rising inflation. why are we going to get rising inflation pressures and look at median cpi and median cpi is very high today and on the call, power reference, trim mean cpi which is also above 2% and there are measures of cpi, yes, you'r dealing with lower oil prices and they're transient and yes, technology has pressures and look at the price of the iphone and netflix prices and all of these different subscriptions and they're all starting to raise prices now and that's something that we could turn the needle on these things >> i've said it and i'll say it again. i believe the fed is using a 1970s playbook for a 2019 economy and to tim's point and we've said this a hundred times. technology is the biggest deflationary force in the history of mankind and it's happened at light speed over last couple of years the fed is fighting an enemy

they can't win they're fighting a land war in asia they're focused on the wrong things and you said they'll never move you're probably right. >> again, i'll say it again. they have inflation in all of the wrong places and they should change their metrics and i'll say this quickly and i think they were doing everything right and i'll say it k gen. i don't think they were trying to strengthen the structure of the economy and maybe the market's weakened and i've asked two different ways. >> how are we different right now versus where we were in october. >> we are above the levels in terms of the market. what else has changed? china is in better changed what else has changed? >> first on the fed change question because guy's saying i would have been happy to see the fed hold the line and us have believe they're in a tightening bent and the markets might have gotten ahead of the fed and who know, really

has the fed changed or has the data changed you can't plame the fed for being behind the curb because they're followers and they're not a leading indicator and by october when they were leaning on, we've got to tighten because that's their mandate and it was appropriate that they change tune and i look at the market that has recessed earnings expectation and we've seen the lower rate economy that equity should go higher and that's happened multiple times when people were pooh poohing earnings and the stock market went higher. i think if the fed stays out of the way, i don't believe that's going to happen and if they stay out of the way the market goes higher. >> well, they're behind unless you want them to do an insurance rate cut in which case you're expecting them to be ahead no fed outside of the volker fed has ever been a leading indicator and i completely agree with tim and why focus on them to take your q points? if you tell me what growth and inflation are i can tell you exactly what the fed will do and they're going to lag what everybody already knows.

>> let's bring it back to the stock market so we know the nasdaq obviously made intraday highs over the last week on numerous occasions and one thing that's stuck out to me look at the russell 2000 and it's pretty centric to the u.s. and it's obviously focused and 20% or so on financials here look at the outperformance of the s&p and when i see the russell 2000 consolidate given the complacency and the enthusiasm about a reflation of global growth and i see this indice lagging to me i don't love these kind of little, trickle highs in the broad indices here because don't forget, think back to october. the s&p went down 20% in a straight line over two months and no one thought it would happen then. >> the s&p has rallied right off those lows to all-time highs and no one thought this was going to happen i would argue both moves are extreme and almost not what we'll see again and i think we got to a place where markets

were misassessing the global economy. >> why do we have to trade you have because we were too high then and we say that wasn't appropriate. >> here's another question, if i'd said to you, guy >> welcome back, by the way. when you're not here we miss you. >> it's good to be back. >> if i said yesterday that apple would blow it out of the water whether or not the earnings report merited the move in apple that we saw today that it was going to be up 6% or so today and that the fed would be on permahold on the sidelines and patient forever for the foreseeable future how do you think the markets would react. >> the s&p closes up 30 and handles google and makes a bottom >> we got what we wanted, right? >> when i was in college we -- >> what school did you go to >> georgetown university, great school, by the way ranked number 12 in forbes. >> not in the '40s when you were there. >> when i was there in the '40s

it wasn't an an credited university and every time you had to highlight something and put a tab on the page. >> lukeike a post-it. >> that was a critical day for the broader markets. i'm not suggesting that. i'm saying put a little tab on this and dan is pooh-poohing me. you're doing it to me now. >> he does it all of the time. >> very sensitive. >> on the day apple reports to your point, maybe it's very interesting. >> let's stick here with the rising risks to the market check out the chart of the day the ism manufacturing index. this dwroeing indicator showing no signs of a rebound and the last gdp was up 1.2% dan, do you think investors are optimist being at this point >> this is the answer to your question, what's different between now and october and this is the big difference. ism it was going up and it's very high. so a lot of -- people are very

exited that you have the rebound and the indicators and the ism is clearly telling you that the fundamentals are still weakening and this earnings season is a great example of how the fundamentals are weakening at some point and the short-term expectations are low and the underlying trend is still a weakens growth and that's the most important dynamic this isn't a u.s. phenomenon and if you look at the global pmis and you have the highest percentage of countries so far that have reported that are below 50 than you had in the last few years so i think that all of these things are saying that the fundamentals are weaker and yes, we like china and they're getting weaker and that's the biggest difference between now and last october. >> great chart and i agree with the analysis i would also, though, say that the u.s. was the one economy lagging every other one on the way down and it doesn't surprise me that we're starting to see the impact and that was tuck in

the bicycle spokes because the u.s. economy and the u.s. market in terms of the global leading indicators we started to get a rebound in the pmi and the european union and we see the numbers out of china. >> if we're at a place when central banks are throwing everything they can and while that might not be healthy guy, to people that have the deleterious effects. >> oh! >> i do think in the short run it's very difficult to argue against equities i do even though as a trader we get to the moments where we get overbought into a fed meeting. >> the thing i'm not saying is that you should be caution aeroequities and the equities can still go higher and they should be different and they should be lower today and the time to be bullish is when

profits are accelerating and that's not the case today. in fact, i would argue that it's more the opposite of that today and i don't think you should be max bullish today and at the same time because the profit cycle is slowing and you know they've had a good run and you want to companies that have a more stable earnings growth. >> you concur? >> i do think there's a risk to the downside, as well. we're looking for leadership and think about some of the semis we've reported and intel, mock ron, particular tech are if they are a leading indicator. >> then people want to discount them can't have it both ways there, people, right? >> right. >> thank you qualcomm and square are pressure after are the and now could be the best chance to buy these stocks and he'll be here

to explain why the plant-based food company are expected to trade tomorrow, but are the plant patties the best burgers? we will put them to the test much more "fast money" right after this

welcome back to "fast money. we have an earnings alert on qualcomm let's go to josh lipton for the details. >> melissa, right at the top of this call, qualcomm ceo talking about this settlement with apple. he called that settlement in his words a win for both companies take a listen to what mollenkopf had to tell analysts >> this represents a significant milestone as it is qualcomm's first patent license agreement directly with apple. in addition, we believe our resolution with apple enhances our position with respect to resolving the ongoing issues with whhuawei we will be supplying modems for apple for future devices under the terms of multichipset supply agreement. >> q3 is going to include revenues of between 4.5 and

$4.7 billion that results from the settlement and does consist of a payment from apple they go along to talk about guidance here, melissa and the q3 guidance at the midpoint is 5.1 billion and that does come below what the street was looking for and something closer to 5.23 billion and our own john ford quickly caught up with steve mollenkopf just to get more guidance and he cited specifically weakness in china impacting guidance and that was the theme on the call. other executives harped on that, too. maybe they say in their opinion that's due to a pause there in advance of a 5g rollout and they are seeing handset unit decline slightly >> josh, thank you. >> josh lipton in san francisco with qualcomm. shares are down about 2% and keep in mind the huge -- >> the stock was 48% in two weeks. >> qualcomm sinks on earnings. it's up 50% on the back of the apple settlement >> a 2% in the after hours is a

victory for anyone holding these shares and it went to all-time highs and even at the peak where people believed in pricing power and this was a $65, $70 stock. so i think if you think about the market has priced in the market ability in 5g modem chipsets that's great news, but at this point, how much is left? >> right so the question is given the commentary about q3 and for the balance of the year it kind of mimics a little bit what we heard from intel and these guys are well set up for 5g and 5g phones won't be deployed for a year or two and when does that ordering come and it comes in the back half or early next year and this stock needs to consolidate these gains and guy and i were looking at the breakout level and it's somewhere in the high 70s.

if you fail like you missed something in the near-term, you want to get it back towards that long-term breakout and i would say that's 77, 78 bucks. >> discount when they say about china? >> i would because i don't think that qualcomm is an earnings story. now i think to your point, this is a 5g story over the next 12 to 18 months so i think you discount this quarter and dan's right. consolidation in the mid-70s. >> we have breaking news on beyond meat. its pricing ahead of tomorrow's interview. >> melissa, this is according to a person familiar with the pricing. it's pricing 9.625 million shares and that imprilies, a market cap of $1.5 million remember, they boosted their range earlier in the week so that $25 comes, and a lot of demand for this alternative to

meat products. >> what are the comps? what are the comps for beyond? >> they didn't say anything specifically about the comps in the ipo's prospectus and there aren't direct comparables for the alternative meat product, but you can look to specific publicly traded companies that do produce these kind of niche food products distributed like beyond meat distributes in retailers such as grocery stores as well as restaurants and partnerships and so forth. so no direct comps for this one and on a market cap to revenue basis, you're looking at, you know, 16 times last year's revenue of about $88 million >> leslie, thank you leslie picker back in the newsroom 16 times last year's revenue of $88 million. >> well, beyond meat what do i do with this the bottom line is this is a different story in the ipo, we

digested, pun intended over the last two weeks >> that's terrible. >> what do you want to pay for a brand? guy should know because you've been beyond meat >> no. i am not their target audience >> you're not? >> dan has something to say. >> no, i think it's interesting because we've spent the last few months talking about consumer brands that are coming to the public market that we all know and use. >> like a pinterest sort of thing. we can talk about levis and what was that relative to the comps >> what are the comps for this, know what i mean it's such a niche sort of thing and you can't talk about the addressable burger market and that's not the new thing that we'll come up with because i have to assume that active burger eaters will be 1% or 2% will be enticed by this sort of product. they'll have a lot of competition. >> who buys this ipo the other one is growth managers and tech managers? who buys beyond meat you're buying the secular growth

story. there is a whole movement of the millennial thinking sort of sustainability >> do you eat meat >> do i. i love meat. >> welcome to the desk but i have a lot of vegetarians in the extended family and when they come over, beyond chicken and beyond meat and it's a good, it's a premium product, but it's the closest thing that you will get to eating meat that you can buy at whole foods or whatever and for a comparable, the next company that needs to come to market is tofuti will come back and that will go public. >> we won't be doing a taste test for that. >> well, i don't know. we're doing a taste test for beyond meat later on >> oh, come on >> yes >> we'll put to the ultimate test, dan here is apparently -- dan suzuki is open minded. dan is not >> that was good >> i'll put anything -- so you won't want to miss that. i'm melissa lee on cnbc, first

in business worldwide. >> this cannabis deal is about to set the entire universe on fire. >> let's bring together the two largest brands on the united states on the east coast it's kurdleaf and on the west coast it's select >> we'll tell you why it's easier to spot the next target. >> welcome to goodburger, can i take your order? >> beyond maet meat is getting ready to make its debut tomorrow, but is it serving the good burger, we'll put it to the ultimate fast-money test right after this

oh, wow. you two are going to have such a great trip. thanks to you, we will. this is why voya helps reach today's goals... ...all while helping you to and through retirement. can you help with these? we're more of the plan, invest and protect kind of help... voya. helping you to and through retirement. money. while the rest of the market has flat lined for 3%. for more on what's weighing on the sector let's get to bob pisani >> health care is suffering and it's the worst performing sector in the s&p and it's up little more than 2% yikes! it's lagging way behind technology and industrials and

consumer discretionary ask communications services and they're up more than 20% health care is suffering not so much because any fundamentals are deteriorating it's mostly suffering because the sentiment is deteriorating sentiment has been slumping, for example, and pharmaceuticals over concerns that democrats will put pressure drug prissing a and astrazeneca and they're down or underperforming this year and sentiment is deteriorating like the hmos and the medicare and medicaid providers and humana and united health over concerns about medicare for all each though the chances of such a bill are slim and they did hold the first-ever hearings on medicare for all and single payer just this week here's the bottom line and this whole medicare for all is a low-probability event, but the industry and investors seem to view it as an exist earn threat to the whole model most analysts will tell you

medicare doesn't pay the full car for medicare patients. they don't pay profitable rates and it's an eternal complaint and if you outlaw private insurance the whole health care system comes under severe stress and it's a sentiment issue. >> thanks, bob pisani. our next guest says there are two plays in the space that you can play mark is at the plasma. what are you looking at? >> i think healthcare can outperform substantially in the weeks and months to come and i want to show you a couple of charts and as bob pisani said this is the worst performing sector this year and it's turned into the best performance of any of the s&p in the last week and it's only up 2.5% for the year and over 1% over the last five days here is the xlv versus the broader market as you can see, we've gotten extremely oversold versus the broader market just in the last year or so we've pulled back

substantially. however, we've started to turn up aggressively and if anything, my thinking is that we really snapped back and captured some of this reversion and it should be possible during a time of very seasonally bullish seasonality for health care. so the bottom line is this we have a technical situation where things got oversold and we started to bottom out and seasonally may through july represent the best months for health care and over the last five years they've averaged 5% in each of those month, may, june and july. >> all of a sudden it's the front-runner for the democratic party and as you know, he's not likely going to go toward a medicare for all or single payer. so if anything, my thinking is and what we've heard and the markets are oversold and they're four great months leads me to think it's a bearish time for stocks here are two stocks they like that take advantage of this possible aversion and one is bristol-myers and here the stock

has pulled back about 15% just fry highs in march alone and of course, the ongoing acquisition of celgene will wrap up in the third quarter and bristol beat handily over the next week and wo we've started to move in the highest level and it's gotten quite oversold and it's dropped to 70 down to levels in the low 40s. we've bottomed out in exactly the same levels in last october and in january and we've turned up to new weekly highs and those are also important and i think bristol-myers can rally to the high 40s and that's the other way to replay this and the other way is pfizer. take a look at pfizer and it peaked back in 1999 and 2000 it's want been above that level since then so what has it done this year? since last november and december we pulled back from levels right here in the high 30s about 10% so if anything, it's a very good risk/reward at a time when the

sector should be starting to turn higher and they buy pfizer and this stock can move back into the low 40s and those are two picks and i like bristol-myers and i like pfizer. health care technically trying to show signs of near-term momentum and it will take the long return for the sector to turn higher and the tech stocks have gotten very overbought heading into the month of may and starting to show revenue deceleration and this group is starting to show a sign of your performance in the near-term bristol-myers not withstanding and my burnback to play devil's advocate, and these stocks are going sideways for a while and we could be in a six-month period where they go sideways to slightly lower and is that a possibility as well? >> i'm looking at the next three to five weeks and my thinking if the market shows any signs of peaking out, the pharmaceutical space should offer

outperformance so stocks if bristol miers and pfizer were positive today and these stocks hit new multi-day highs. near-term i think they work and really over the next three to five months i also think they can outperform >> mark, thank you mark newton of newton advisers >> dan suzuki, you like healthcare here? >> yeah. i think it's a great buying opportunity and both bob and mark are telling you the same thing and the fundamentals are solid for health care yet this is all sentiment driven and health care has been a lightning rod for political criticism and they're some of the best in the s&p and they're one of the few in the saip and positive sales growth and positive earnings growth that's a rare phenomenon to see in this quarter and if you look historically at the multi-year period of underperformance and the outperformance periods are really a function of profit

cycles accelerating and the reason i looked at the '90s because people were talking about the clinton health care reform proposals and if you look at the '90s. the two periods were in the early '90s and 1999. those periods had nothing to do with health care they were a small component of it and the big component we had two profit recessions and that's not a good environment for health care, but is that the environment we're in today no profits are decelerating and it's a great time to be in health care which is the longest, best performing sector of all time and is cheap on every single valuation metric out there which you can't say for any other metric out there >> if you think about the health care being defensive where people are questioning the overall market think of united health care and that's a name we'd be buying on the weakness. >> i want to mention xlv and

it's had three 10% drops and it doesn't feel defensive when you consider and that's one more than the overall market has given that defensive nature, i don't know, it seems to me that it's forming a bit of a wedge here and there does seem to be political risk here. >> check out square shares getting flushed after the earnings reports and ceo jack dorsey speaking on the call and we'll bring you the very latest. plus curdleaf sending that stock soaring. more marijuana mergers could take the space to pot paradise he'll break it all down when "fast money" returns

welcome back to "fast money," shares of curdleaf after the pot giant acquired cure partners which owns a big marijuana brand called selected in an all-stock deal nearing $1 billion. curdleaf's executive boris jordan gave us the details on "squawk on the street" today >> it's bringing together the two largest brands in the united states on the east coast it's curdleaf and on the west coast it's select and it's the largest dit butted wholesale brand in the country and it was like buying coca-cola for $1 billion and it was over 6.5 billion and it's today's price and it will have

2018 revenues of $205 which makes it the largest revenue company in the world in cannabis >> more than $6 billion worth of big pot deals have been inked in year and with so much wheeling and dealing in the space we thought we'd get our cannabis king tim seymour to lay out what the deal could be. >> high times in the cannabis space for sure the ceo we'll have tomorrow. okay this deal buys curdleaf and this is east coast-west coast rappers getting together and the biggest west coast play and great deal for those guys remember when we had two weeks ago? this is canopy buying acreage in the u.s. and the key to this deal is this defined the structure in which canadian players might legally be able to get into the u.s. market how about harvest? remember the deal these guys did? steve white had been on our show and we talked about how these guys were growing quietly and

this is a big, multistate operator and it's a land grab and the crescolabs and this brought together the biggest distribution company in the space where brands matter. if you asked every one of these companies that's what they've been doing and working on. they've been building brands let's look at charts of companies that are in play now and not might be taken out and feeling some sense of urgency. aurora, which has had a pretty nice run and come down off the highs and you can see where some people have been generally trading out of the names in the u.s. and these guys filed a $150 shelf and remgist raising about a month ago and here's somebody else to think about. if we look at the next chart we have there it is, afriya, another one of the big canadian napes and this company was in trouble over

buying bad asset ands whatever went down the bottom line is this is an asset player producing good assets and what are they going to do they've been topping out like the canadian players and the question is how do they take the next move higher it's probably through an acquisition and people might be taking a look at them and we've had these guys that are the u.s. multi-state operators and they've certainly made a push into barney's and that's a massive strategic play and that's a company that knows how to extend their presence in the brands the real question here, folks s what's going to be the next move in a sector that absolutely is consolidating right now. >> timmy, you mentioned east coast-west coast rap and it culminated with big e. and tupac and that sort of thing and there is a lot of positive sentiment here and a lot of combinations and a lot of turf wars, too, rid? >> if you listen to boris jordan

andio you talk about companies that have 220 million and that's what these guys are trying to do if you noticea lot of those deals you were looking at earlier, was there a geographic fit and there was a combination of partners that have been good dance partners and make no mistake. every one of those companies have all been rumored to be with the other one. there's been all kinds of mixing and matching it's happening now and it's exciting and why the u.s. multistates, i still think are the best place to play >> thanks for that, tim. check out shares of square after issuing weak guidance and we'll hear from jack dorsey next, and yo mbebdea beyond meat, and how does it stack up to the competition? we'll put it to the test when we'll put it to the test when "fast money" returns ould be mad your smart fridge

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welcome back to "fast money. we have an earnings alert on square deidre bossa is in san francisco with the latest. >> deidre, it took a long time, nearly 40 minutes into the call to get a direct question on what's really hitting the stock in the after hours one of those factors decelerating large merchant growth and a lot of those factors weaker than expected and gdp, pages that the platform processed and on large merchant, ceo jack dorsey says they'll build products that will scale and onboard and take advantage of the broader ecosystem on

growth payments volume and competition. dorsey, he kind of punted again and said that the square ecosystem is theirive everyone yart and you heard the ecosystem come up in the first 40 minutes and dorsey and the relatively new cfo amrita ahuja putting the focus the peer to peer cash venmo competitor and this is where square is betting and we didn't get any absolute numbers on this, just growth number, but without the absolute numbers we can't compare it to the venmos of the world we'll get back on the call and flag anything else as we get it. >> deidre, thank you. >> over the last few months since the huge ramp in january off the lows the stock has consolidated right around where it was in the mid-70s here and it's interesting between 50 and the investors were getting a little nervous over a hundred times

earnings and they have a small loss on a gap basis and about 14 times sales. so all those things that are sending the stock down right now and the things that will take the stock higher essentially and they're seeing the metric. >> square's loss and i'm not suggesting causality and look at paypal over the same period of time and that's a stock flirting with all-time highs. very interesting dan is viewing it through the option prism on friday in options action and maybe you can do a paypal square, risk reversal will be tremendous for the show >> thanks for producing that >> that would be special and i'll tune in for that. think of the high tech stocks that were the go-go stocks in the fall or last year this is back and to me it's a multiple dynamic here and the uber multiple stocks don't have a home here and square continues to execute on their business and somewhere around $63 you have a pretty good level on the stocks

to take a nibble. >> blizzard is set to report after the bell tomorrow so dan, why don't you head over to the plasma >> a pretty interesting sector we know that the whole space has kind of gotten nailed especially at a time when a lot of alternatives to the actual consul guys has done well and some of the e player multistuff online and the implied move in the market is about 6.5% and that is verses the average, and 6.5% and call volume today was hot to that of puts and it was two times that as you saw just there and it was interesting that a lot of the call buying was in the weekly 50 calls there was about 35 hun that traded at 112 or so and when you see the stock at 48.5 and that's traders with aship bounce and why should i be playing with a short-term bounce. let's go to the chart. it's still down about 35% from

those all-time highs and that topped out last year and look at the consolidation and if you'll buy short dated calls into the buy short dated calls into the print and making a defined print

(indistinguishable muttering) buy short dated calls into the print and making a defined print that was awful. why are you so good at this? had a coach in high school. really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum- just to help you improve your skills. boom! mad skills. education to take your trading to the next level. only with td ameritrade.

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the time you taste the burgers, yes, the plant-based burgers and thanks, avenue know, f evan, for being couping them for us. >> why do you need the lettuce >> good call by me, right? we're going to grade them. did you take a bite of yours,

dan? >> i would like ketchup on here, too. >> suzuki, you're open mined. >> he's like a millennial. he played the millennial card. >> so let's grade these burgers. guy, what do you say >> i'm a fan of impossible burger, by the way burger king -- has the impossible whopper, but i digress. i will tell you i was going give this a d right off the bat without even tasting it had to be a d this sucker's an a this is actually damn good >> wow >> it's the craziest thing. >> no seasoning! i'm going to actually eat the thing. this is good >> tim, what's your grade? >> well, kind of smoky has a nice consistency. >> is it meat like >> it's meaty. i really could sink my teeth into it. i'm very happy right now i'm giving this an a i love it. i love it. >> dan nath an >> i'm just going to be really clear on this. i can't think of any sort of

scenarios where i would choose this over an actual burger the taste is fine. i don't want the intern making me this veggie burger or anything like that he told me there's a good place that can do it >> he's a paige. i would rather live in denial and eat my real burger >> can you see a market for this burger. >> yes >> not people like me, but go, have at it, people. >> what's your grade >> i give it an a, and i think it could earn an a-plus if you told me that this were actually healthy and i would lose weight eating this and that's where i'm skeptical, but i would give it an a >> as and a c. you won't want to miss beyond meat's co-founder ethan brown on squawk box at 7:20 a.m. eastern time i am told he'll bring plenty offing abouters with him so i'll taste mine tomorrow and evan, thank you for making tm.he >> bravo up, in, final trade. now i'm thinking...i'd like to retire early.

let's talk about this when we meet next week. edward jones came to manage a trillion dollars in assets under care by focusing our mind on whatever's on yours.

all of the burgers are gone, by the way tim, final trade. >> that was such a good burger, i'm going to buy google. >> dan suzuki.

>> health care for all of the reasons stated before. >> dan nathan. >> cart or friends mad don't go anywhere. "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 make you some money my job isn't just to entertain but to educate and teach you s call me at 1-800-743-cnbc. or tweet me @jimcramer. has the stock market been too strong for its own good? as we turn the page to may people are starting to worry about potential overexuberance which is one reason why it los