tv Fast Money CNBC May 21, 2019 5:00pm-6:00pm EDT
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put clearance between the recent lows and the minutes will matter at some point in terms of potentially bridging this apparent gap between what the market thinks and what the fed has said and the markets are pricing by december. within three months is when it starts to matter more. >> transit truce said 11 times in the press conference. >> thanks for watching "closing bell." "fast money" begins right now. >> fast money starts right now live from the nasdaq marketsite overlooking times square i'm melissa lee. pete najarian, peter kelly and tim seymour. nearly a decade in the after hours and we'll bring you the latest and plus the bears are out for tesla and a top analyst says the worst-case scenario for the stock could be as low as ten bucks a share, yes, ten bucks. we will also talk to that man you just saw, by the way we'll start with the markets as
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the u.s. temporarily easy restrictions on huawei and if you think you heard the story before you're right because despite the volatility and headwins, the s&p 500 is right back to where we started at the same level we were exactly two months ago so is this truly a market now, and this is our wheel house stock picking. >> our producers is playing a little we're stuck in the middle for you. so what would you be picking here in a world where so much stuff has sold off lows? >> and we spent a lot of tomb talking about semis and some of the things are most exposed to trade. the stock i was more bullish on and higher up and this is a stock that's been destroyed in this last month essentially the extra leg down here's what we've learned from management and we got post first-quarter guidance and bottom line the flat rolled segment is increasing somewhat the u.s. is seeing a small deceleration and the key for these guys is people are worried about the balance sheet turned
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an economic downturn and that's a name we really look and it sounds counterintuitive as we go to war with asia and everything. i'll leave this for somebody else i think ten cent is arguably the most important tech incubator as we talk about gaming and the other dynamics of social media in that part of the world. i don't really see why ten cent is caught in the middle of a trade war. >> ten cent looks very interesting to me. >> stuck in the middle is the anthem of my life. going back to stock picking, if anybody out there watched "squawk box" this morning, thank you, and sue from bank of america merrill lynch she was staying people don't care about macro people like me anymore they want stock pickers. what is this backdrop? despite all these things i would argue it's because of all these things that we're in the same place. we've seen this pattern for two months now you get these big proclamations about a tariff or a rate cut and
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rate hike and the market just oscillates back and forth. so in this type of period you want to have stocks and you want to have a stock picker you want to be both long and short. so if woe're just talking about the long side, what is strong? the u.s. economy is relatively strong compared to the rest of the world and you look at something like mastercard and visa levered a bit to the consumer and each though we saw retail stocks and their growth rates are fantastic in this environment and the stocks are going bottom left, up or right and they're very strong. >> there's a great opportunity in alibaba and that stock is probably 10% over the last two months and a lot of concern because it's one of the biggest weightings in the market index and a lot of investors don't want to own it right now and basically with alibaba you have the opportunity to own amazon and a company that's growing faster than amazon at a fraction of the valuation so i think it's a great opportunity to really play the rise of that chinese consumer and you're buying at a discount.
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>> go ahead. another stock we're looking at right now is twitter twitter kind of on the flip side is up 15% over the course of the last couple of months and we're pretty sure that user engagement is going to be strong, at least through the 2020 election. i think that's safe to say, and because user engagement is so strong they're helping offset a little bit of a slowdown they're experiencing with user growth. >> when you're seeing the relief that's happened twice now. we had the relief in terms of the tariffs in europe with the autos and they get this extension now with huawei. so i think that's part of this whole thing, too, right? that's the real story to what your point was in terms of there are storylines that force us down and there are storylines that force us right back up and look at how the semis were absolutely screaming to the upside and apple and the rest of the techs were screaming to the upside and it looked like they were done for good it's amazing so we're right where we were and yet the volatility in this segment has been really, really
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amazing. we're talking 23 back up to 21, back down to 21 and 15 and we have been everywhere so i think it will continue to be very volatile and i think there will still be this news, and i'm going with a name like kmi and the reason i say that is they are just so disciplined and oh, by the way, richard kinder just bought another 300,000 shares a week ago again to add to his buys that he does it seems like every couple of weeks and he just continues to buy back i love the discipline of this company, though because think back to 2015, they had a dividend of $1.93. they had to cut it and since that time adding back to it, very disciplined and i think they're doing all the right things and that's one of these names that i love. >> if you had stopped and that's why i'm in, i would have never guessed kinder morgan. i thought after your whole spiel about technology and how it snapped back and they'll be volatile, though >> and kmi just had another 52-week high today and i like
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the semis and i love apple >> let me ask you because i agree on kinder, but you talked about, hey, look they were down yesterday and there was something to bail you out on the headline and to me do you think you're getting a solution on trade war any time soon especially with the headwinds we're facing and they were oversold i get that on semis. i'm not sure you can make an argument that there's a headline waiting again tomorrow or the next day or the next day >> we bought time and i think that's what we're seeing here is the negotiation process where we're buying time. we bought 90 days and we bought another 90 days on this, so it gives us time to maybe do the quote, unquote, negotiating that supposedly we hear about behind closed doors all the time. we hear it constantly, right somebody is meeting with somebody is she ever going to actually sit down with trump and actually try to hammer something out and maybe, maybe not you say no >> i think they will, and i just don't know what the timeframe is >> i think the timeframe is
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after the election >> as much as we're talking about what to buy in this environment and i wouldn't want to minimize the fact that i don't think the market is pricing in a prolonged trade war and we're getting these incremental headlines and news stories for it and it moves the markup 1% or so, and again, we're going sideways and that to me is the sign that the market is starting to digest this news and eventually it will begin to price. >> that sounds kind of bullish >> the market is digesting this news it seems to me that if something is digesting >> we could have a blow off top, where everybody will come to the u.s. and it's the best place to be, but at some point in time where the market understands that this is going to be a prolonged trade war then you've got it. >> before that time, though, do you put together a trade of exposed stocks i'll position myself for the market to go lower >> no, play this undulation of headlines, right when it really looks horrible and they're saying you know,
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we're never going have any agreement and all of these trade-related stocks go down, buy them because the next couple of days we'll have another headline that says we're backing off of it. the deal gets done before the end of the year. i think this is creating a lot of noise and a lot of good buying opportunity >> you're six month away >> yeah. >> it could be -- it's before end of the year. a lot of volatility. >> lots of ups and downs, lots of opportunities for investors to find good entry points. we like software we like medical devices and constellation brands. >> let me ask you this, if the trade war is not resolved in sixty months and say that is much longer does it change the way you look at your stock picks right now? >> it doesn't. the time horizon is an intermediate term and we're not in and out on a daily basis and our strategy is to identify those companies. >> same question for you. >> if we look at the alegory that we saw roll back the clock nine months on this you'd see the u.s. outperform for a moment and for a time until it doesn't.
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the other dynamic you have to consider is a dollar and it goes over 98 for the first time in a long time, and if you look at the dollar chart it's probably one of the best charts you will find slow and steady wins the race. whether we have some type of a credit event on the back of slower growth or we just see a flight to quality, that is a -- a risk for the market that the dollar moves higher. >> i'm a dollar bull at this point in time. i think we go much lier in the dollar and ultimately down the road it does cause a crisis, but in the first part of this is going to be everybody saying and everybody i'm talking to saying the u.s. dollar is like the swiss franc, watch what billionaires are doing and that process will have to go through and that will push the dollar high are. >> i was at an event with mike wilson from morgan stanley, he said the exact opposite. he thinks that the there are has peaked and he thinks that the there are is going lower, and he
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talked a very bearish game in the longer term in terms of the markets and he thinks they can continue to mull around where they are with this grinding process and he ended up being bearish at the end of the kay, and where does he think the market is going and in particular where the dollar is going? >> that's not where you stand. >> i was willing to listen to him and i thought how it was a very sensible. everyone's got their opinion the trading know viernment has been phenomenal, ml. the volatility has delivered that that 15 to call it 20. the opportunity is to buy at 15 and i'm talking about individual names here i took off 30 names because it was final he the opportune environment and everything has been very, very short term i have some long-term plays and all of the short term stuff i took half of them.
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>> stocks continue to swing on trade headlines and our next guest says the volatility is creating opportunities to buy and let's bring in senior global equity strategist. good to have you with us. >> hi, melissa. >> when you say this is creating an opportunity to buy. is that impacted in any way by your view of how long it will take for this trade war to be resolved >> you know, really, we felt like we would see some trade positives over time. i'll have to say that based on what's happened in the last couple of weeks with whether it's huawei or whether it's just the kind of a temporary breakdown in talks that timeframe's extended out there and probably the eventual deal we end up with is maybe want nos good as the one we anticipated i think for the market to work its way higher we don't need the perfect deal and tariffs go away and the threat of additional tariffs go away. we have a few other things in
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it it needs to be more than ever buying more soybeans and cars, and i think the market would like that. so what we're trying to do, we took some money off the table. we took a little risk out of the portfolios after the big jump after the christmas eve low, so in early april we lightened up a little bit there and net exposure and we're still leaning toward sectors and we like industrials and we like tech and consumer discretionary after being underweight in years, basically. so we're leaning in a way toward some upside here, but net-net we're a little neutral play in the range, you look down at the 200-day moving average. >> right >> you look down lower than that, and i think that's an opportunity if you have the outlook that hey, we are eventually probably going to get a trade deal, and the u.s. economy is not going to fall apart. we'll chug along and you have some stabilization in the global economy. >> say i gave you two scenarios, scott and one scenario would be
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that we resolve this trade war dispute and the other scenario is we resolve it in a year and a half or two years. would either of those sectors change in any of the scenarios. >> the sooner we have the deal the sooner we'll like those particular sector picks. it it takes longer, a year and a half and just like you guys have been talking about today, it's the headline of the day. a good headline like we saw today takes you higher and takes you a chance to lighten up on those and bad headlines take you down to technical support. you're either hopefully a little light down there and you're picking up some nor cyclical type of things or, you know, you want to hold in and, you know, you don't want to take your losses at the technical support level. it depends the longer we go without a trade deal, i think the more murky,
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global growth is going to be and that's not going to be a good thing for the market or for cyclical sectors >> hey, scott. so you sound a bit lukewarm here and i understand where you're coming from. i'm curious, how does the presidential cycle play into this because as it seems to me you have the stock market president who wants to get re-elected and will likely do anything to keep stocks higher does that fit into your analysis in any place >> well, we think about that we're not thinking about it and it's not in the top five things that we're rpging about, but certainly, we're right on the cusp of just like any presidential cycle where you start to see some things and the incumbent party tries to do some things to continue to boost the economy and continue to make the overall economic environment look good and that usually is certainly helpful when it comes around to the election time. so i think that's a part of it, but right now we would say with the federal reserve likely awe the table here, we're not looking for cuts and certainly
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not hikes for this year and network. the worry is global growth and trade negotiation and that's the key to what this market is going to do over the course of the next 12 to 18 months >> scott, great to speak with you. thank you. >> thank you go blues >> a little nhl hockey >> mel, are you watching >> for sure. what time is that on >> it's the stock picker's paradise who is talking about sectors how should we square this in our portfolio? it's a stock picker's environment and yet we're thinking about things in buckets like sectors >> scott indicated industrials and tech were some places where they were relatively confident and yet those are very cyclical. he talked about energy i think energy is, believe it or not, somewhat defensive here because for the first time in probably five years the market really is responding to supply disruption dynamics and iran is
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aing about parts of that and we haven't downgraded that much i still think that the positioning in the sector is underweight, and i believe that the industrials have been overly kind of implicated in this trade war, and i think there are valuations there that are defendable >> it looks like one of their picks is consumers as well so within consumer i think you've got good areas and bad area and retail is an example of something that is completely getting clobbered right now whereas you have some home improvement retailers looking better and homebuilders are looking great right now and there are some areas within each of these sectors doing better than others. >> you know what i heard from scott he's saying rotate from sector to sector don't take your losses at the lows in tech and hold them and you might want to sell those i think that's completely consistent and you want to pick your sectors and you pick your stocks and i agree on oil, and i look at schlumberger and slb and that looks like it's bottoming >> based on the lack of anything financial in terms of what scott
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side, i have to tell you something and i actually think that's being forgotten and trade has been very, very high and our volumes in the derivatives markets are high >> we mentioned retail, nordstrom is getting crushed while toll brothers is volatile and we'll bring you the latest moves on those plus tesla shaking off the bears after it could send shares plunging to $10 a share. look at that stock finishing basically flat meatless mania has taken wall street by storm as beyond meat soars 200% from its ipo, but is it everything it's cracked up to be former agriculture secretary dan glickman offers his thoughts on that we are live from times scombar square in new york city. much nor famore fast money aftes
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here'sshow me making it. like. oh! i got one. the best of amy poehler. amy, maybe we could use the voice remote to search for something that you're not in. show me parks and rec. from netflix to prime video to live tv, xfinity lets you find your favorites with the emmy award-winning x1 voice remote. show me the best of amy poehler, again. this time around... now that's simple, easy, awesome. experience the entertainment you love on x1. access netflix, prime video, youtube and more, all with the sound of your voice. click, call or visit a store today. welcome back to "fast money. we have earnings alert on nordstrom. courtney reagan in the newsroom and these earnings from the conference call do not look good nordstrom put up a disappointing quarter and they lowered their full-year sales, and the co-president said that some of the soft trends that they saw the prior quarter were going to
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continue, things actually got worse. >> we know we disappointed our customers and we own it. we've identified three factors that contributed to this sales, loyalty, digital marketing and merchandise. these areas are within our control to turn around and we're already taking steps to course correct and drive the top line >> he went on to explain that part of its new nordy club loyalty program rollout eliminated physical mail that many customers it turns out count on in favor of the digital strategy and that hurt traffic and further com pounding issues with the focus on the loyalty program, the department store decided to spend less on digital marketing and that also led to lower traffic. merchandise was the third issue they think was off in the quarter both for the regular store and at the off-price nordstrom rack business. so the company is working on course correcting in areas like women's apparel and beauty, but they're saying on the call that could take some time gross margin also fell last year
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and missed analyst expectations and nordstrom says it was primarily due to planned markdowns to re-align inventory to get that in a better position and inventory was down more than 5%, but a lot of this want a great quarter, melissa, and shares down more than 8.5% >> the marketing part of this, courtney, caught me and they said they pared back on the mailing because people wanted digital and they also cut back on the digital and traffic fell. i mean, they cut back all over the place. what did they expect was going to happen? >> what they were saying is they had this new nordy club rollout. they used to physically mail different, you know, pieces of paper, notifications and discounts this kind of thing to the members and they decided let's go to the digital first strategy people that counted on the mail didn't have it and we're spending so much time, energy and effort on this, on this loyalty program, let's low you are our digital marketing spend and that really did have an impact and at least they believe it did when it comes to traffic
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getting into the store everything they talked about on the call is self-inflicted and not a macro economic and environmental issue, not that they're pointing to at all >> courtney reagan in the newsroom and courtney hit it on the head it's self-inflicted. >> the nordy club? >> the nordy club. >> it's the worst name for a club it's almost like nerdy, it's hard to say. >> i am probably a member of the nerdy club >> it's a compliment and self-inflicted and not macro >> if you think about the existential issues that retail department stores have faced, the fact that some of the areas where macy's which by the way is you will take a hit from these numbers as well and it's a funk that they' function where they're starting to compete and get people to have online traffic and the fact that the full margin essentially called this the cash cow of women's clothing is under
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pressure is the biggest concern here so, yeah, nice to not be dealing with secular issues and if this management can't turn it around. >> they'll have to deal with the secular disruption for detail and in this environment you'll have to be on point and it sounds like they just botched every single part of this strategy my takeaway and not to step on her toes over here, but it looks like there will be bargains at tjx. you can gauge that into the apparel that comes in there. i used to use this as the underarmour thermometer. we're talking about tjx. they're wrong in merchandise they're wrong in digital and wrong in loyalty i mean, holy smokes! how do you miss out on all three of those it's almost impossible that's yet stockwhy the stock's at their lows and thank god they didn't they'd be broke by now it's unbelievable and how they can miss out on so many
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different categories it's shocking tjx, continues to be it. >> where do you go >> i'm going with tj maxx, as well >> maxanistas. >> how about ross stores >> i'll throw out another name just so we have one more >> you are looking at 6% on the positive side and nordstrom posted a negative 1.5% on the full-price stores and nordstrom, the biggest issue with them is their value prop over the course of the last several years has been this great customer experience which is now completely irrelevant when nobody walks into the stores. >> nordy >> nordy club? >> for more on retail and the demise of the stores go to cnbc.com i'm melissa lee on cnbc, first in trading worldwide >> the refined coconut oil >> investors have been feasting on beyond meat, but when you hear what one skeptic has to say
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about its ingredients you might be second guessing the meatless mania on wall street. plus, the bears are out for tesla. >> i was very sad to see that. >> cheer up, elon because despite a bull callout today the stock could see a big reversal and it could be headed even higher we will explain. much more "fast money" still ahead.
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♪ ♪ beyond work and life... who else could he be? there is the moment. beyond technology... there is human ingenuity. ♪ ♪ every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. take your business beyond. welcome back to "fast money. a wild month for tesla and ending the day negative after a slew of bearish calls and our phil lebeau is in chicago with more >> there are three things that if you look at what's happened with tesla over the last couple of weeks, all of these are kind of mixed together to weigh on
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tesla shares first off with analysts raising doubts and adam jonas from morgan stanley i know the $10 worst-case scenario got a lot of attention and he brought up a number of concerns especially with regard to sales possibilities or lack of possibilities in china and that also plays into the second issue here which is the people questioning the sales momentum especially for the model three and finally, have you noticed that elon musk has been silent he's still on twitter and sure, you can still hear from him occasionally and certainly not before the sec settlement and that's why when you take a look at shares of tesla in particular over the last month it's down 25% and all of this factors into a time when people are increasingly saying what's going on with tesla and why is this stock under pressure speaking of elon musk and the tock being under pressure, remember he has a number of loan, three of them that are backed with his tesla shares as collateral we're talking about 213 to
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goldman sachs. 209 to morgan stanley and 85 million, a total of almost 507 million in personal loans that are collateralized with his tesla shares we don't know if or when there is a margin call on those loan, but if this stock goes lower and there is a margin call that puts even more pressure on the stock. >> and the next potential catalyst for this stock, phil, isn't until delivery numbers >> maybe, and that's five weeks away, melissa. five weeks and that means a lot of people will put stuff out on social media and in the past we hear from elon musk and we're not going to hear from him the way we used to >> phil lebeau in chicago. even when we hear from elon musk it doesn't do too much for the stock anymore and he can do much for autonomous taxis and with the stock not too much in the past month alone there have been 12 price target cuts on wall street
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this week there are two bullish analysts laying out bearish scenarios for the stock, the stock today finished flat. we watched danny throw in the towel and the only criticism i'd have of adam jonas other than saying $10 instead of some other number and that's okay we all kind of realize what happened here and when you put down that bearish scenario, but it's best case if things are as bad as they are and it seems to be that he's leaning on that direction, why is his price target still 2.30 that he didn't touch that part is concerning to me. yoe i don't understand, why i wouldn't cut that down to 200 and why would you leave that at 230 if all of these other metrics you don't like seem to be turning more and more bearish. why wouldn't that price target come down further? >> if you want to try and do a
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risk reward and best case is 3:30 and bear case is $10. >> it's a wild ride here that you're in for. >> isn't he right to give scenario analysis for a company that is all over the map, and certainly, the bulls are out there saying this basis, this makes a lot of sense and bears are saying otherwise by the way, at a $10 price you have a 15 billion ev with the company that doesn't make it through and and there's a lot of viability and it's interesting that the street, everybody,i would say the investment community is more bearish than ever on tesla you in that it's down 180 bucks in six months how is that? >> now i realize that there's been a cascade of bad news and the irony here is that the company has raised $2.7 billion and gives them a few months to fight, frankly, especially as we heard the numbers based upon the first quarter's cash burn rate and they can go another ten
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months and i think they will go longer down the road and i just think if you're a shareholder of tesla, you wouldn't want your company to restructure thoughtfully rather than the convoluted because there's a ton of value and there's a ton of intrinsic value and the more we play this game the more you're winding value out of the company. >> the narrative has changed and when this thing was running to 370 plus a share the narrative was innovation they were winning through innovation right now the narrative is survival and i don't know what the next positive catalyst is. it's not going to be deliveries nap guidance is so out of line, there's no way they'll hit their numbers and quite frankly, they really don't deserve that ludicrous mode valuation that they're trading at still as of today. >> and what do the bonds tell us >> the bonds hit a new low yielding 9% today. >> exactly this entire valuation and tim has nailed this thing and it's a faith-based valuation. as long as you believe that elon musk was going to be able to
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pull a rabbit out of his hat then everything worked and everything was fine and now all of a sudden he stumbles a bit and he can't speak and the execution, he stumbles a bit and you have to look at the reality of this company and that's what jonas was getting out of this $10 price target and let's look at the reality and everything goes wrong and that's probably the level. to me that's a sign that there's some capitulation. so somewhere around here, maybe even as low as 150 i'd think about picking it >> 150 in the options market the tesla bears are out in full force. one trader just spent more than a million dollars against the company. mike ko is in san francisco with the action hi, mike >> i think some of the action specks to what b.k. was talking about. if we take a look at the short interest in tesla that's fairly close to its all-time highs and that's mildly off of its all-time highs and one million open put contracts right now and
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we saw a diagonal put spread in tesla and someone traded the june 210, 185 put spread and 5,000 times and they're taking profits on the bearish bet they made last week selling the 210 puts at a handsome profit and taking a portion of those profits and buying the 185 puts that expire a week from this coming friday. they spent $2.45 a contract for that and that's how you got to the approximately million dollars in premium and we should bear in mind that they had the puts last week due to the stock's decline and one put i would claim about the fundamentals here and i'm on tesla's e-mailing list because there is a car that my wife has indicated she wants to buy and right now the wait, the delivery wait for a model 3 if i order one right now i'm holding up the order page is within two weeks that doesn't seem like a car with overwhelming demand and we did see model x and deliveries drop and the real question people need to ask themselves.
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>> i like that my wife has indicated she'd like to buy. >> i'd like one, too would you buy me one >> mike ko in san fran know if meatless mania taking wall street by storm, but what is really inside these beefless burgers? former agriculture secretary dan glickman will be here to explain. plus, oh, snap the social media stock soaring today and adding to a triple-digit gain this year and whether there's more to come much more fast money in two minutes. ♪♪ ♪♪ ♪♪
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shopfor up to 40% offal day eveon appliances...first ...plus use your sears card and get an extra 10% off. and you'll also get three hundred dollars cashback in points. sears, making moments matter. welcome back to "fast money. check out shares of snap after the company announced a new cfo and chief people officer two executive spots that have been vacant since january this all part of evan spiegel's attempt to revamp the social media company whose stock has more than doubled this year and it's also gotten some a depgtten over the last week after launching a new gender swap filter >> man >> we had to try some for ourselves. >> scary >> is this all enough for
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investors -- that's me jump back into the stock oh, my goodness. i apologize in advance to all of the viewers out there who might be disturbed by this video >> i'm disturbed by it i understand you can't see things, but stuff like this, this stuff causes buzz. >> it does >> wow >> the filter -- the filters are unique a lot of people are using them >> you make a lovely woman, mark >> thank you very much >> the issue is monetization, right? these things, you just -- no matter how cool the filters might be and i'm want saying i like them or dislike them and you can't monetize them and that's been the issue with snapchat they're doing great in the 18 to 34 demographic they're struggling in the 35 plus and i think they can get a heck of a lot more advertisers, but they're struggling. >> doesn't this cause stickiness >> they had the dancing hot dog.
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i love dancing with hot dogs in terms of the user base this is an interesting demographic an and a sticky one it's not been a landslide in terms of the monetization and i have to say that i don't like to put filters on that turn me into -- >> into women? >> you're not bad looking either as a female. >> ia appreciate that. >> i would say the monetization is the story that's been the story since day one and they had zippo early on. this last quarter they impressed me a little bit and they started to look at me once again and i flipped day one on ipo and no way would i want to hold it because how are they going to make money that demographic hates ads and the whole thing comes down to can you slip in the ad and make this thing work and monetize something out of it? >> i think they're starting to make a little headway, but you'd still rather be on facebook and twitter over this thing. >> snap to me, i understand they're trying to get this
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network effect going to me, i don't want use the product. maybe you could make a case that it's a way to play augmented reality and i think that's a flimsy case. if you're thinking social think twitter. they've been killing it on all sectors and you're coming into a presidential election which twitter will be absolutely front and center and it's the best place to be in in the social space in my view. >> beyond meat soaring and wowing wall street dan glickman says it may not be all it's cracked up to be. he'll be here to tell us why he's got beef with meatless alternatives. >> oh, i get that! that's funny. >> check out bitcoin back above 8,000 and up more than 100% and yst . tcoin baller himself b.k sa icould be gearing up for another leg higher that's all after the break 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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nutrition and it's a pleasure to have you with us. >> thank you for having me. >> there is this craze for alternative meats out there right now. do we know if it's better for you? >> well, we're not sure, but it gives the consumers some choice that many would like to have there are many vegetarians out there, many people who like to vary their diets and some plant-based meat, some regular meat so i think it's good that it's out there. i think it's safe. one of my points is that we can't really market it however it's necessarily better for you because we don't know because we have a lack of nutrition science in this country that's a part of our medical system so some people eat it and it certainly won't hurt you it can be very tasty, but it doesn't mean it's better for you. >> okay. so is there any research being done because this seems like a growing fad. i don't want to say fad, a growing trend, let's say more and more people are looking at meat alternatives right now and is there research being done to say, this is, in fact, better
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for you or is this something that right now we have to live with not knowing >> i think we know enough to know that it's healthy and we know that it has some protein in it, but as a general rule, apart from the plant-based meat, we do not know enough about what's in our food there's an old expression, you are what you eat, but nutrition has never been a serious study of science in the national institutes of health we study major diseases like heart disease, cancer, arthritis and alzheimer's and we don't do enough study in how you can prevent disease from happening, and food is a big part of that i certainly support plant-based meat and i don't think anybody should look at that as nirvana or the only solution to the problem and we need to look at this across the board to try to make people make intelligent food choices based on good science. >> we were showing, dan, the ingredient list for beyond meat. it's a fine product and it is and it was a hot ipo coming out of the gate and water, canola
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oil, refined coconut oil and cel cellulose and the list goes on and on do you think the government should spend more money invest gaiting putting research behind thesed fo these foods especially when people want more of this. >> they have to investigate the science of nutrition generally a lot of folks are confused about what's good for you. we change all of the time should you drink low-fat milk and there are certainly a lot of people who worry about meat including environmental issues plant-based meat does provide some protein in there. you have additives and other things that are legumes and add protein to your diet we do know it's safe and those down summers who are venl
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tearians different strokes for different folk there are all sorts of options and we need to do more research to figure out what is really good for you >> dan, thank you so much. >> you're welcome. >> dan glickman. all right. this is a fascinating conversation and not a conversation we normally have, but i think this is important to understanding whether or not beyond meat or impossible if it comes down the pipeline later on is viable, and the important point here is that we do not know if these substitutes are better for you >> well, what we do know is that there certainly could be some arguments as it relates to cholesterol and some aspects of meat they think people can clearly identify, but absolutely, and bringing it back to the market, what's clear is that people are willing to pay, and i mean in a market multiple for companies that seem to be helpful forefront and i go right to cmg or a company that ultimately, i don't think cmg is
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doing anything all that different from a let of other brands that are understanding, that people want a different kind of fast casual, but the multiple that they're able to demand and even shake shack shack, there's no way they can grow into that multiple because their growth continues to be a function of better quality products. >> the growth is what the a mauzings part of this. every day they're doing this, beyond meat or imprbable product. even though it's good for you, not and that's why i think beyond has done so well. >> people are getting tricked into the idea that it absolutely is better for you. is it? we don't know. maybe, but we really just don't know yet for that, i go for taste give me jack-in-the-box. >> i thought you were going to say a rib eye.
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>> no, if you're going sort of in the fast food world and you're traveling around. >> these things are delicious. have you had them? >> have you had a -- >> jack-in-the-box >> it's delicious! >> it's fantastic. >> this over fast food coming up, bitcoin on a wild ride now more than 100% and b.k. will lay out what's behind the rally and the catalyst that could take it ghhier we are are live in times square, new york city. much more "fast money" still ahead. in crossing harsh terrain... or breaking new ground? this is the mercedes-benz suv family. greatness comes in many forms. visit your local mercedes-benz dealer for exceptional lease and financing offers. mercedes-benz. the best or nothing.
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let's roll! now that's simple, easy, awesome. xfinity xfi gives you the speed, coverage and control you need. manage your wifi network from anywhere when you download the xfi app today. welcome back to "fast money," bitcoin gone wild after crashing from its all-time high back in 2017 despite surging 52% in a month, bitcoin now appears stuck at the 8k level as investors wonder what the next big driver could be who better to break it down than our very own bitcoin baller brian kelly. >> there are a couple of things going on and let's brake it down what the market is anticipating. you're getting the long waited for institutional adoption and fidelity is rolling out institutional custody and they're getting customers and people are starting to buy institutions retail anticipation. we softened t.d. ameritrade and
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they invested, and they'll start bitcoin trading to their retail customers over the coming months and perhaps three or four months and you start to enter the supply cut and the supply of bitcoin gets cut in half and you generally have a rally a year into it and a year out of it and so we're just at the beginning of that stage. so you have this combination of a lot of demand coming in and we're heading into a period where we'll have supply cut and that's generally very bullish for it one last thing i would add just as a psa whale we're down at these levels please size this appropriately. it's a risky thing and 1% to 5% of your portfolio and when it goes higher and you buy it at the top don't tell b.k. that i bought too much. >> is it called the halfening. >> the software itself every four years will cut the mining rewards in half and that's how the software is designed
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so that's what you're seeing in 2012, 2016. >> so the minors are reporting it >> a lot of them have said we sold enough bitcoin to get us through the next year or so and we'll hoard bitcoin at this point in time and we're not going to sell it and that supply will get cut in half and it's simple economics, right? lots of demand hitting littl ly and the price goes higher >> up next, time trades.
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it is time now for the final trade. pete najarian. >> every once in a while i came across the story and an upgrade of deckers you know what? i read through this very carefully and this is going higher it's cheap, great gross margins and i think it's going higher. giddy up. >> they make those fantastic sandals. >> the uggs and things >> the tevas are ugly. >> i don't want love them. >> my final trade is twitter and you should buy that one and not the dumb sandals >> we are up against the clock mike tepper. >> d.r. horton they'll have a solution and
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they'll build them. >> we have a barbecue weekend? will you throwing the meat >> i respect the alt-meat. >> when you are grilling your beyond meat or stes,riak dnk tot 5. "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 money. my job is to entertain, train, call me or tweet me @jimcramer. >> who's afraid of big, bad china? yeah, this is one of those days that shows you exactly what
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