the story and the book is out now. a woman makes a plan." we are out of time pretty much here on "closing bell. reminder, markets closed about a 0.5% higher. that does it for "closing bell." >> "fast money" begins right now. >> yes it does morgan and wilfred live from the nasdaq market site in sometimes square. this is "fast money. i'm brian sullivan your traders are tim seymour. dan nathan and guy adami and chris ver own head of technical analysis at strategy as partners carlos ghosn speaking out. we have insights from our interview request the fujt, former leader of nissan. constellation brands investors fired up the investment in cannabis may be not as bad as once feared while the rest of the industry follows suit and bed bath and beyond, bad bby shares getting an fp

the stock down 20% after withdrawing sales guidance and sales in the quarter tank. the sales down now fast and flawed and a big job for the new ceo. all of that and more ahead lets begin with this kind of like bed bath and beyond it's been a wild 24 hours for your money moments after getting of on the air the news hit that iran launched missile strikes on two ira iraqi military bases housing american troops. sending s&p futures plunging then iran calmed down a bit saying it would stop if the united states didn't launch new attacks. futures rebounded making up nearly all of the losses the market is open and they're pretty much flat until shortly after 11:00 a.m. eastern time that was when president trump addressed the nation saying iran, quote, appears to be standing down. just like that, stocks surge the nasdaq closing at all-time highs again.

so, guy adami here we are, another potential crisis but more new highs what do you make of it. >> i tried to make it too complicated. clearly i missed in terms of the broader market rally for sometime but maybe it's as simple as this maybe as simple as if the fed adds liquidity on a daily basis. we'll say by ierp of this year at current pace the balance sheet at record highs. that's madness it doesn't matter the fact that paefs investing is a thing and money though flows into the market regardless of headline now, loss of life aside, i don't think the market cares regardless whether or not something did escalate last night. i think it's so -- it's so insulated fromoutside news tha it just seems to go higher. >> hold on follow up on that what will matter. >> i don't know. well. >> the fed. >> the federal reserve guy is saying this we know that the quarter of a trillion dollars of balance sheet added at the end of the year and we also any that we're here

on the show to not necessarily talk about the travesty and the sadness of life. we are here to talk about what's moving markets we can have a parade of economists all tell us the same thing. the geopolitics in the short to medium term don't do anything to change the economic path in fact i'm not going to -- i'm not going to simplify the trade war down to that but even that is we have had a cascade of economists telling us that's not changing the path and the economy is what matters for markets. >> i want to get the safety trade, risk reversal dan nathan, because interests more -- all the enough on the internet about maybe stuff over iraq you don't know the point is we are in a nervous market and should be how do we protect ourselves, if you are still as guy said passively putting the money in the 401(k) 529, ir. a or whatever. is there a way to buy protection. >> it's a good question. if you look at 2019 and chris v veren and were talk bag process

this if you look at 2019, the s&p 500 did have three peak to trough declines averaging about 6.5%. nothing horrible held the uptrend breaking out in october. up 8%. making new highs every day it seems like if you look to it spi. aflt the futures saw futures getting hid and the vicks spiking a bit. never up much. at the money s&p 500, whether spx or spi puts out a couple months cost you a couple percent to ensure yourself if that's something you're saying i had a great 2019 i'm not certain maybe up 20% maybe we pulled forward equity return and given the headwinds and worried about maybe the next time there is bombs with gas and you may want portfolio protection especially if you want to let it run and not panic like we saw last night. >> i would say the 10-day put

call ratio is. but i want to make a distinction between a pause and consolidation or top and there is no indicators there is a top in place right now. you have 80% of stocks above the 200 that's a new broad market. look at the high list. the risk on sexton casinos. goldman sachs, brokers with. i think that's suggestive he of growth in 2020. >> chris, the charts reflect what we know and the fear is whatwe don't know, that it may not be over. we could wake up one morning with headline thars worse. lets hope not. but the charts won't reflect the geopolitical risk. >> i think the question is does the positioning reflect the maturity of stocks in the last 129 to 13 months the biggest increasing were in low vol stocks. >> i think the breadth of the market is impressive but what led the way is the triple qs. megacap tech is up 6% to the s&p

during that time process and to what dan is talking about, i don't think people are worried about staying even from last year. i think what -- if anything what the market worries about with the geopolitics you are talking about brian is there is not a 10% putback. it's a 25% drawdown. because people look at the absurd active the world. and then with a mind on 2018 and lived through that so if anything it's the 10% out flt money that people should have the confidence to go to sleep and invest in the market until the banks and central banks pulse away the punch bowl this is growing. >> you mentioned a skittish market .13.5% was the vix was lower. >> not at all. >> i'll say it again maybe i'm wrong probably but there is a bull market, a bubble in complacency. the fact that people continue to be rewarded, which is fine, for buying markets that, you know,

seemingly just go up at a certain point that ends. and i think we're a lot closer to it but i thought that for a while. >> i want to bring it home because we are talk talking about the geopolitical stuff one of the trades i thought would catch steam if we thought the trade situation as awaiting and global growth coming back a bit. i would have thought that u.s. domestic names russell 2000 small caps would have acted better we talked about the s&p broke out in late october and up 8%. the russell 2000 up like 3% it's lagging not particularly impressive. the only thing that's saying to me is that the domestic, you know u.s. domestic is paying more attention to the trade stuff. maybe it didn't abate as much as we think it did in december. and therefore i'd watch that. >> okay. so the big market turn around may be leaving some investors on edge or maybe not with the vix at 14. with you dow effectively traveling 700 points from the lows into today's close. how should you navigate the wild swings should you be more nervous than

the market thinks joining us now is the chief market strategist tony divider you were sitting patiently listening to the conversation. my guess is you will say, no, there is not a real reason to be afraid right now. >> so. >> don't put words in his mouth. >> i have a funny position. >> a the minute before the show started. >> don't give away the secrets. >> the big balanced bull is the most bullish on the show last year i come here and to what we've been talking about before, brian, the guys printing the money keep telling you they're going to print the money and we keep trying to figure out if it's good or bad or right or wrong tp it is what it is. to your point exactly i feel like i'm the least bullish strategist right now everybody is ramping targets to 3500, picking the bears switching. put-call ratios are historically thigh. the money movement to leverage

funds, etfs, bullish ones is really rampant i really kind of -- i see about 5% upside. i also think you could have a 5 to 10% correction, just because it's up too much there is too much euphoria. >> what's up too much. >> translator: overall market i would say is up too much. >> why too much. >> why too much. >> by too much, i don't think it's too much valuationwise or fundamentally. fundamentally i think we can go higher over time but there is times in the marketplace you don't need to chase the next tick. with the fundamental back drop and credit and all the things and turn and pivot in the global economy. there is no way you want to be negative in my view. but there are times not to chase the next tick and if you wanted to buy wit for a pullback around we're in that zone. >> because i did read the notes, brian you're not concerned about the spread of junk over the investment grade and at 175 you you are talking about a pause. you mentioned valuations that worries me. positioning is what it is but it can move quickly

i look to price to sales and the ebidta and pe ratios and i see levels we haven't seen since the most buberlitious times. >> when you look at the average multiple on s&p 500. it's at 19 times when it's and then back in the 1960s to me process, you don't even have to go back to find a higher multiple than we're at today from the third quarter of 2016 through the third quarter of 2018 you actually traded at 19 or higher. so actually where we are or higher so you know these targets that we put out are ridiculous. because you are guessing at a point of time in what it should be it should be 19 or higher. i'm at 20 times getting me the 3440 could i make it times if i wanted to play i think it's the process that's important. in early october when i sat on the desk and looked like the end of the world was coming and everything rolling over on the trade war and got pessimistic it was time to get in the game

because the guys printing the money said they are printing >> but they are not printing forever. they may even start to reduce it at some point. >> this is heresy ready for this sfl yeah. >> in a primary currency you can print as much money as you want as long as as long as you're the primary currency the idea that they can not do this out of bullets is clearly by the expansion of the balance sheet not correct. so, again, i don't want to say whether it's good or bad or right or wrong i'm not that smart when they tell me the game plan i don't want to be smarter than sfwlu they didn't tell you the game plan they said it's not qe. >> no. >> think about it they said it was a mid-cycle adjustment for the rate cuts starting in july but they said it's not qe preponderate is nochlt qeing nothing to see here. >> but process don't matter. think about it it's it don't matter if it's fo qe or not pach it's money in the game the dovish pivot in early january was the game changer

1995 all over again when they went from tightening monetary policy to easing monetary policy and in an administration that was under duress which a analog tonight and the market gripped and ripped and went up 34% follow ed up with a 20% year in 1996. almost 30% in -- no, 30% in 1997 0%- we have to stop with this is all over it can correct i think we'll have a correction. i'm asking people not to chase the tape but until you have excessive valuations, which i don't think they are to me on the operating earnings basis, or all the money is coming. >> because microsoft and alphabet, facebook. >> good point. >> their earnings don't care. >> and they are structural structurally lower pes. >> any don't care about baghdad. >> the high yield debt market is important. would i buy high yield debt at this spread? not a chance about you it tells us there is

so much money available to companies to borrow, such a cheap interest rate. there is no way i should buy the house i can but i can because of the low interest rates can are the same way they do the m and a, buy barkers. equity friendly. >> what turned it out is a credit not a lot of evidence of the credit event how does the dollar and rates factor is that a weaker dollar or stronger dollar. >> i love the dollar never positive for the mechanic. when it's in the favor of s&p when it hurts the company the dollar -- if you look at it the dollar index is at the same place it was at the end of 2014. >> yeah. >> despite all the calls throughout the period of how much it was going down. >> that's which we haven't talk about talked about the dollar index because it's sitting flat. tony divider great analysis appreciate the honesty and canneder >> thank you. >> s&p targets don't matter.

>> never have, dude. >> but what does matter, guy adami? and you said i don't know. everybody is buying the same five stocks. the triple qs and whatever does alphabet share if ships get mind in the strait of hormuz. >> apparently not. in terms of the downside that was sort of my answer. you could have made a cogent argument that last night was the start of something clare i it's not i don't know what the exoxygennous event was i think a weakening dollar could be that. the gold markets going up could be telling you something but to tony's point, the fed gives you the playbook and just play by their rules. >> good discussion of the macromarkets lets turn to the other major story following up to the tragic airplane crash in iran the boeing 737 went down shortly after takeoff from tehran.

killing all 167 patterning and nine crew enemies. in the because of the crash is not known. lets get to phil lebeau with more on this story at first it was mechanical failure. i heard you on this morning on squawk box talking about it. has the narrative shifted at all as the day has gone on >> yes, yes it's shifted primarily because this doesn't add up, brian. increasingly when i talk with people who have been aviation accident inspectors or working with the ntsb or with the f. chl a chl a who now do this for a richg will as a consultant whether with airlines, whether boeing, all of them said the same thing none of this adds up and their primary feeling is this look you don't have a plane two minutes after takeoff which is on normal flight path hits 7,900 feet, no may day call and then boom, all telementry stops that doesn't happen in mechanical failures.

the planes are designed in an fire to give the pilots an opportunity to get back to the airport or find a place to possibly land the airplane none of that happened in this case which is why people are saying, okay, something suspicious here. will we find out the answer? maybe not. iran is saying it may not turn over the black boxes or cockpit voice recorder if they don't turn it over this environment the odds are the ntsb and state department will never work outer a way for boeing or others to get their hands on the two it may remain a mystery. as you look at shares of boeing, yes, they were down premarket when word first came out about this crash came back a bit during during the day. i would say this stock is under pressure today brian, more because of thedown grade by cowan saying the max issues will mean a lower-free cash flow. i think that had a better -- a greater impact i should say on this stock than the circumstances surrounding the crash, which with, again more and more questions than answers.

and really suspicious across the board. >> phil, how long you been covering the airline sector? >> more than -- well more than 25 years now. >> more than 25 years. we have seen black boxes not found. unfortunately there are things in the middle of the sea you can't locates. >> right. >> have you in 25 years ever seen a situation where the black box is located but not turned over >> i haven't seen that but that's not surprising. look, the country where the accident happens, they control everything so if you have a country -- look if there was a plane accident in north korea, is it likely we get the black box if we wanted it? no and it's a similar situation in iran right now doesn't mean it's not impossible at some point iran may say here is the black box we are turning it over to investigators to analyze the data but at this point the early indication is they're not planning on turning it over. >> no but the north korean air korea would be a 40-year-old

aircraft not a 3-year-old boeing 737. >> thank you, phil. >> you bet. >> lets talk about the stock angle. even though a terrible incident here tim on boeing we have to talk about the company. that's what with he do. >> it was hard to believe the headlines this morning, especially as we were digests missiles from iran to iraq but when you consider boeing, ukraine, and iran all on the same sentence and a crashed airline, it's so tragic. and the problem is here that if you looked at the stock, the stock didn't digest this in the way it was continuation of a mechanical failure tp it tells you the market believes is spurious because fast if dwas mechanical failure, the stock should be down more. there are big problems for boeing and arguably still people on the desk feels it's a no touch. i haven't been one with you i can tell you based upon this news today, i don't know why you need to buy boeing. it's that simple even though we are all

speculating that there could be foul play, could not be. this is ridiculously tragic and boeing is still in the middle of this yet again. >> well the ukrainian airline noted it was one of the newest and best jets. that's how they zrabd it one of the best now we have a can't miss interview with carlos ghosn. michelle caruso cabrera sat down with mr. ghosn in beirut you will marry more of that scatrview with a more faining press conference this morning on "fast money," right after this when you look at the world,

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former nissan chairman carlos ghosn speaking out for the first times is since fleaing house arrest in jpen ghosn holding an hourslong news conference in beirut the former executive denying acquisitionizations of financial misconduct and said he did not flee to escape justice but rather injustice cnbc contributor michelle caruso cabrera for a rare one-on-one interview. joins joining us live from beirut i don't know where to begin, michelle, because that press conference, that was something i don't think the business community has ever seen before

>> yeah, it was pretty extraordinary to be there, more than 100 journalists in the room four different languages that he conducted the news conference in, french, english, arabic, portuguese he didn't want to end until he got to everyone if possible. at first almost like a talk show host but then the photographers claimed they couldn't get good video so going back to the podium when i sat down with him we talked about a number of things. one of the things we discussed, why is it you think the prosecution against you in japan was invalid? and why do you use words like plot and conspiracy. why would they want to do that to you >> well, i explain to you reasons, first reason is the decline of the performance of nissan where i started to be extremely frustrated with the management that in fact i put in place, particularly with saikwa he was nevds about his job with me representing 43% of the

shareholders with renault i had the power to remove had him from the job. because the performance of the company was declining. first reason second reason as i said there is a lot of people who really did not like a kind of merger with renault. and as long as i was heading the alliance they trusted that i would protect the autonomy of nissan the fact that they feared the french government wanted to interfere in business that the japanese didn't like at all. but they said, you know, why do we have to wait for this guy why not get rid of this guy and if we get rid of them and we get rid of renault and get rid of the influence that renault has they were right. >> you are saying the desire to keep nissan as a national champion was so strong they were willing to destroy you and your reputation >> without any doubt without any doubt. look at what they've done. the statements that were made by

saikawa made after i was arrested look at the cooperation, the complicity between the prosecutor and nissan, the support they got from the japanese government. the whole thing doesn't make sense. "fast money" it was often. they got what they wanted except nissan today is running into the ground this is the only thing they didn't think about is will the people be able to run the company and? and the answer so far after 14 months, the answer is no because the company operating profit is going down the growth has completely disappeared. the market capitalization of nissan went down more than $10 billion. everything is gown down. >> we also discussed, of course, his incredible escape from japan, this international cloak and dagger story worthy of hollywood movie. you can hear about in the interview with him you can see the whole thing on cnbc.com. and we talked about the allegations against him in japan and some of the allegations that

have appeared in print in places like france where renault is headquartered. you can see his answers to those questions as well in the interview. >> it was an unbelievable press conference incredibly forceful the way he went through the slides one by one. right, michelle, he is not out of the woods yet interpol put out an arrest warrant for him and his wife is it possible he may never again in his life be able to leave lebanon? >> it is possible. he also has a french passports he has french citizenry and brazil jan citizenry and neither of those countries kprat citizens on principle. in theory he could go to those countries. but with interpol notice you have to worry about how you get from place a to bp also there are allegations in france because that's where renault is headquartered. you have to consider those issues as well but, yes, he is trying to figure out if that's going to be possible

but he also said -- i asked straight up qbo -- listen what if you have to aspen the rest of your life in leb felon and he said it's better than japan. >> michelle, great interview you can see the whole thing on cnbc.com it's been a long day michelle. thank you very much. tim seymour, i know -- listen, you study the world. you know corporate governance. this is an unbelievable story on almost every level. >> this will be a movie. and this was an extraordinary day. and a guy that needed to get his voice heard and maybe due process was not being had in japan. raumt trades at a discount and for a lot of reasons but corporate governance when you look at a discount rate for a company, part of that is truly based upon either transparency or macrofactors related to the sovereign nation, is it a national champion company? which in many cases means the country feels like they are more important than the company i don't know if that's what went on in japan. but it's part of the reason renault has been trading at a discount

despite exciting news about strategic partnerships the company has been talking about u.s. players. >> he also said he was offered basically double pay to take the gm job he says i should have taken that i've got the movie ghosn baby ghosn for more of the interview you can see more of it with carlos ghosn on the website. in the meantime here is what else we have coming up on fast. >> got fomo after missing out on the monsters rally don't worry chris verrone has three must own names for 2020. and we break down the after hours action in bed, bath and beyond is it is the now ceo turning it around we have that and more when "fast money" returns feeling sluggish or weighed down

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all right. welcome back to "fast money. lets look at how we finished on wall street. it was a wild 24-hour period yeah, we did finish off the highs. but the nasdaq, where we are sitting right now, the big winner handing in, yup, you got it, another record close so, with 2020 now in full swing we look for the stocks you don't want to miss out on in the new year so legal us go off the charts with chris to break down the top picks. chris. >> i got three i think three must own names this year. we'll start with a very big stock. facebook it's really been dead money for the better part of the last two years. bumping up against president 210 level, bumping up against the 210 level. you had a 40% drawdown you are looking for the bear market it already happened what's curious about the last number of months, the 200 day moving average has held as support. we did it twice in 2019.

and the breakout over the last several days i think is very compelling we're looking to 280 maybe 300 on this one this year. i think it speaks to overall tech and software generally etting better. next one i want to talk about on the long side is ge. we know how terrible this has been, down 80 over the last couple of years but very equitily the last 18 or so months we have this base taking shape. up through 11 a couple weeks ago was a big deal i think on the way to 15 there are 25 analysts covering the stock. only five of then have a price target above the current level i think the analyst have to take up the numbers here. then lastly we'll go back to the tech world consumer driven out of china we like china here i think the best way to play is alibaba. another stock that basically has been spent the better part of the last 18 months just in this big base in this big range, just starting to break out. i think any consolidates back to

the 50, worst case maybe 200 is an opportunity to buy the stock. stock trades about 215, 216 today. i think ultimately going to 280 or 300 so facebook, ge. baba i think three great longs for 020. >> thank you, chris. come back over to the desk and trade the information. does any of the names facebook, ge, baba pb, stitt out for anybody. >> facebook makes sense. it's a stock we have done well with we said textbook back over the summer in terms of retracement levels chris mentioned chart levels now at levels last seen in july of 2018 appears to be breaking out to the upside you probably own it into earnings at the end of the month. i don't think there is anything wrong with taking profits into the number we have seen tremendous drawdown in the name over the years the last couple of quarters unbelievably good to the upside. but you know, i think now you are playing with house money take a little off the table.

>> chris brought up three interesting names. rarelily together. other than when a great chartist says it's time the fundamentals on baba make a lot of sense you have a case on a peg ratio this is a company trading certainly subone arguably 25, 26 times. there is a lot of catalyst to the name which includes may be spinning off ali pay and financial kbir but the cores e-commerce business is growing. that's kitsing, also also the ipo locally means there is oolts of liquidity in the name it's not a surprise it's up 15% since the secondary. >> anybody with a view on ge you talk about alibaba and hoolt owe a lot about facebook but fge. >> you know of an interesting thing about all the names. is they've weathered bad macrostories facebook anti-trust. >> maybe not the to the level of ge. >> the china i like stocks that don't go down on bad news. i think all three start to

exhibit the characters over the last year or so. that's a compelling reason to own them into a better macroyear. >> you know, facebook is interesting. because you just said it's the coming out the other end of something. i'm not certain about that i feel like this is going to be the povertyo poster child for ge going forward. it's a huge part of major industries going forward there is a pendulum shiftwood facebook lets be clear. 2019 was a year where earnings did not grow materially for the first time ever in their history because of all the things that they are trying to get out in front of sales, though, aredown shifting a bit. growthwise it's a 20% grow are i think the next few years that's the guess but at some point if advertisers do leave, if user growth deaccelerates. and engagement deaccelerates and sales growth dekrerlts accelerates, the stock at 27 times looks expensive especially when you consider regulatory headwinds and things that might be mechanical to the way etfs

and funds are creating going forward. >> good if you have is there and unof the first positive mentions of ge in a long time. certainly of 2020. coming up, bed bath and beyond shares well off the lows that's the good news about but they were down 20% at one point. they withdrew the guidance the sales fell we're taking you inside the no-good very bad quarter and where whether or not the ceo is throwing everything out there right now. later on ride sharing and restaurant rating. look at shares of uber, lyft and yelp, all popping today. what changed for the stocks that investors have loved to ignore in the past? we're finding out when "fast money" returns you should be mad your neighbor always wants to hang out. and you should be mad your smart fridge is unnecessarily complicated. make ice. making ice. but you're not mad because you have e*trade which isn't complicated. their tools make trading quicker and simpler

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and welcome to "fast money." we have an earnings alert for you op bed bath and beyond it not pretty. all right sales come in weaker than many expected in the company. the company withdrewing future guidance the good news. the stock, chris, down era down 6.5% i say that's good news because 2 minutes after the results came out, the stock was down 20%. weird stock, too heavily shorted up 70% in the past 90 days >> i should think this is getting better look at the response after

hours. down to $13. back to 15.50. you had a big volume update a few weeks ago around the $15 level. if you can hold $15 on terrible news with short interest, huge, i think there is 18, 19 analyst covering it, only four or foof whys on the stock. if holds a level i might take a shot on the longside. >> i don't disagree. kourtney hoefted the show the other night and i said own it in earnings and if aggressive own it post earnings that was clearly wrong but i'll say this, the recovery is important look at the number, merchandise inventories for the quarter, which is important in this business, down 15.6% why is that interesting? because it's a new merchandise inventory initiative they are taking i think margins are better next quarter. you can make a case this is a new ceo throwing out the kitchen sink and it opens close to unchanged tomorrow you can have a 18 handle really slowly. >> you brought this up today the

other day rightly the 46% short interest the stock doubled into this prin the reaction shouldn't be a big surprise but you have to ask, what's really the future for bed bath and beyond, guys, because outside of the scented candles i know you show up weekly for, i don't see what they are doing. what's the in-as for experience that you get that no one else gets. >> i enjoy the stores. >> it's an interesting conversation about a big box, this is a company that's $11 billion-dollar in annual sales and stuff that everything you buy there you can get at amazon. am are at some point it has to get digested at the do they become -- i just cone know i think we are seeing. >> it was an $80 stock. >> yes. >> in four years. >> and now here a story -- obviously like you got to look at the free cash flow. almost $4 billion in debt. a $2 billion market cap. you say how do you get out given the headwinds with the competition? >> all right lets stay now with earnings,

because check out constellation brands stz, popping on better than expected results and jim cramer sat down exclusively with the krpo company ceo asking about the company's investment in canopy growth which is not always gone as smoothly as hoped. >> well, as you know as well as anyone any time you have a start-up he industry there are spits and spurts what we are excited about is canopy is the share leader in canada and the largest seller of cannabis around the world. now we are putting in place a person that you've acknowledged yourself is a great seasoned executive who will bring discipline and focus to the leadership of that business. so we remain very bullish about it admittedly there will be times when we get spits and spurts in the cannabis business. but we think the long-term play around that will be quite healthy. >> all right so as always catch the full interview tonight with jim and "mad money." starts of course 6:00 p.m. eastern time tim, lets talk about stz, what are your take on the stock here.

>> lets get back to the core business, which is this the best in class in ber. these guys are growing the beer business 7%. growing the net profit on beer business 8% to 9 per they tightened is up a lot this is one of the most aggressive spirits companies in the world and gone after markets and done it well they were one of the main beneficiaries of bud digest modelo and the move to cannabis with was also aggressive was it early who knows. david klein taking over as ceo use the to be the ceo of constellation should give everybody -- i think that's what that conversation was about -- a lot of confidence. i'm long constellation i'm long it for constellation. but there are people liking it because it gives confidence of of the cannabis exposure. >> mike khouw did a hit on this. last quarter maybe the stock was ahead of itself in terms of prays. prior to the quarter traded down

10, 180 now too negative into the quarter. i think valuation makes sense. margins seem to be improving i think the canopy investment is going to be really interesting for these divides and gallings i think you can continue to own it despite the fact it's up 5.5%. >> this is a stock almost peaking two years ago when the staples rally this didn't participate. i have to ask what's wrong what is the chart telling us back at the 200? it failed ao there in the past the 190 level is difficult i think i'd be a seller. i think there are better thingts to do. >> as you know as well as anybody any time you have a start-up industry there are spits and spurts attached to it >> interesting. >> we're excited about canopy and it remains the share leader in canada in the largest seller of cannabis around the world that's what we just heard. but up next we're talking about this and great seasoned executives mo are going to bring

discipline and focus to the business i got off a plane. i'm woefully unprepared. give me a break. on deck is a sale in the cards for grub hub who could be a potential buyer we have options and pgs ohs on that one options trader just made a nearly $4 million det bet the markets could goil wd. we tell you how to make money it if i'm still here after the break. stick around wow, do you think you overdid it maybe? overdid what? well planned, well invested, well protected. voya. be confident to and through retirement.

all right. welcome back to "fast money. investors grabbing up grub hub shares the delivery service soaring as much as 17% today on reports it's hired financial advisers for a possible sale other stocks around the space, ub we are uber eats. yelp reviewing restaurants also rallying on the report. dan, do you think there could be more the story >> you know, listen there was a too many tam last year when vc was investing in private markets and loved the theme. they like it less now. they don't like it in part of uber either. i'm not really sure about what sort of scenario, i haven't given it a lot of thought where you put combinations together. and the two pieces together are worth more than what they are right now. we have seen a lot of money lit on fire in the last 24 months trying to do exactly what these guys do.

and i think the peak to trough decline over the last year in grub hub tells us that there is a lot of competition sales growth for the company has just ground to a halt it's make 12% this year. 12% next i'm not certain. i don't think you buy it because they might get sold. >> i tend to agree i think this is the area where you sell the stock you went 30 to 60 over the last couple months. it looked like cap it la active volume, 20 million shares. you are back at the 200. again failed here before things indown trend should be sold at the 200 oh grub hub is the epitome. >> do you buy uber on this news because if grub hub sells itself or changes the model and you got uber eats sitting out there is that more i attract disbelieve stay long lyft i think it's a name kinning to improve itself they have a pathway to profitability. we talked about that i puck push back a bit on grub hub. back in november we broke down from 59 in a meaningful way. i mean, i know that's not far

from here. but that's another 8%. i think there is further upside. i think they overshoot to thedownside and in this case i think it goes to the upside. >> in ieber ace case i don't think there is and invisible sum. i think this is a case where there's been let eye of bad news for the company and although we said it's getting better maybe they invest in uber eats. >> jim cramer had a process picture of uber eats and he said sell this stupid business. that was his word. i think he agrees there is no skronisty between. >> we've been talking about that lyft versus uber with. vcs were pouring money into uber wanted more geographics, more businesses >> everything they did was magic at one point. >> but the public investors would love to see a more focused business. >> what are you doing. >> it's police lyrics. the band police if you missed. >> i'm no skronisty on this. >> you're okay.

>> i don't know if you were playing the game with us. >> my point is. >> we're having tea in the sahara. >> okay. >> one options trader makes a big bet on market risk what are they? how do are this he getting stick around to find out live at the sdnaaq in sometimes square more "fast money" still ahead. n? do woodchucks chuck wood? hey you dang woodchucks, quit chucking my wood! geico. fifteen minutes could save you fifteen percent or more on car insurance.

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a new year but the psalm story at 2019. stocks breaking out to brand-new all-time highs this in part after president trump announced iran appears to be standing down his term, after firing mitchells at american targets in iraq. but if you were only looking at the stock market you may not have realized there was a major international incident last night, any more than one the poll tilt index barely moved. at 13.5 the process% but one market trader betting that volatility could sky rocket in the near future mike kmo in san francisco with the "options action. what do you see and what is this frayeder doing >> sure. so shortly after the open today around 9:40 this morning we saw call volume in vix outpacing put by 4 to 1. it's common for calls to outpace

puts but this is double the normal ratio we would see. that was the result of a single very large trade somebody purchasing 75,000 of the february 25 vix calls, spending about 49 cents a contract for each. and the better bet of course is that it's rising above 25 by february expiration. if you are holding it, that long and that obviously would be a big increase i want to point out that the important thing here is that we you look at vix options they actually represent the vix futures. and we can see what they might be betting on if we look at how the vix futures behaved overnight. they actually really spiked thp they trade overnight we saw saw them spoke over 18 off the news from iran and fell off sharply here. earlier we heard dan talking about buying at the money puts this is more equivalent to out of the money puts. 50-day delta puts or so. a wage way to hedge the portfolio. my guess is that's what this trader is doing. >> wow, that's bold move, dan

nathan what do you think of it? would you make that bet? >> you know, mike did a great job explaining how vix pgs ohs trade against the futures. it's complicated for retail investors. bun but one of the things interesting when you see a slug of options they are really liquid large institutions this player came in right after the opening and bought these things up if you were getting the next set of bombs, like i said it's a worse scenario you might see a vix rgt no of 20 and this would be a good with way. >> effectively bomb's away but we're okay. >> oak good stuff. check out the full show erevy friday 5:30 p.m. eastern the final trades are up next turn on my tv and boom, >> announcer: "options action" is sponsored by think or swim by td ameritrade. this is totally customizable, so you focus only on what you want. okay, it's got screeners and watchlists. and you can even see how your predictions might affect the value of the stocks you're interested in.

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doing great job with the music give them props which i did. and eli lilly rallies into earnings brian. >> you guys are the out lad my mission is simple, no take 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 in friends, i'm just trying to make you money my job is not just to entertain but teach, and coach call me. or tweet me at jim cramer. what are we looking at resilience o