>> that's right, if there is zero basis. >> fine, but most. >> or started the company from zero. >> would carry some kind of original cost. we thank you, robert thank you for that >> want to mention tomorrow on shoet we have the ceo of under armour, the company reporting earnings tomorrow morning. an exclusive with patrick frisk and they announced they are settling with the soek paying $9 million over revenue recognition practices back to 2015. >> even more reason to tune in for that interview tomorrow. and the show's as a whole our apologies to first money stealing nine seconds. >> nine seconds into the ledger wilf i'm melissa lee. "fast money. guy adami, karen seymour, time finerman carter werth has three stocks blooming with opportunity. we brew bring you the names. a twitter talkdown, the social media stock tumble being down 20% in a week. should you buy this pullback

we debate. pete takes to the mound pitching an idea buy i thinks strong defense best offense we start off with a rally retail check out the moves in these names. dillards and gap both closing at highest levels in six years. kohls posting monster gains on a new trading month. time to adre tail to the shopping cart. guy adami, what do you say >> you know this is vintage "fast money" we startedin january of '07 you know what started january of '07 frank blake. i know he hasn't been there for seven years. i mention because pety used to talk about this over and over again. i know we talked about home depot forever. all-time high it rallies to earnings despite what people say on valuation i know karen and tim talked about this look at fedex. now all of a sudden everybody is a bull on fedex, $40, $50 later. analyst upgrades, you put the 20

multiple on fedex on the $20 they are going to earn this is a consumer stock, a $400 stock, the home builders len that are is ridiculous other than brick and mortar other places to be they still work. i love the vein analyst "fast money" thing. >> just throw pops and drops in at some point. you know what we have generally as a nation, we have a lot of money in our pocket. we've got stimulus still to come, tim. does that set up here for the retail rally to continue especially as reopening? you can sfend that money you saved during the pandemic. >> yeah, i think so. but i think a lot of this has been priced in high pressure let's be clear guy does a great job of putting the retail status on fedex i agree with that. the success they've had going b to c very important but massy's and nordstrom and gap is different story. niece are broken companies that found a way through restructuring through covid to

accelerate restructuring you know, maceys had had a 51, 52% short interest in july, august down to 13%. nordstrom in the 30s now down to 8.5% companies thought to be going out of business and speculators were -- a lot of these trades i've liked macy's been a longside position because they've been converting to digital sales, the proportion of the new dollar of sales now digital is in the 40s. it's a great story from that regard what's left, you're really asking a question about to what extent will disposable income continue to be high? i think well into 2022 that's the question. because i think we priced in a lot of the reopening trade i do think retail will outperform love home builders here. excuse me home improvement stores around the home builders. and home depot and lowes continue to get the benefit of the housing tailwind

preponderates at zero people buying against homes and people staying at home more than ever. >> have we priced in yet, karen the need to emerge from cocoons dressed in an appropriate manner my guess. >> that's the great question. >> of the four of you at least two of you are wearing leisure pants of some sort shorts, yoga pants at least half of you guys. i sense that i sense it in my bones so at some point you need to buy proper pants, our wear the proper points from two years ago. >> that's aggressive >> that was my favorite thing i read in "the wall street journal" this morning, that paem people are buying pants with zippers and buttons over ee elastic and draw string, which is a metric i have expected for a while. now we've seen it. and it came from l.l. bean if you think the l.l. bean customer has said, all right

enough of that comfort pants situation, maybe that's why gap was up so much if you think i got to buy the khakis that zip or button, maybe you go to gap. there is pent jum demand for sure we know people either saved a lot even if employed they saved a lot. if unemployed they have stimulus checks the consumer is obviously alive and well but it was across the board. if you look at names that were, you know, like a target or wal-mart both up niecely today, even though you think maybe people want to rotate away from them no they seem to be spending everywhere i looked at the mall stacks, rita stacks. even tanker had been as low as 16, i thought i saw it as 17 today. the customer -- the retail buyer is out and about you know, i know tjx up a little i'd like to see it up more it's been particularly hammered by the pandemic because they

have very little online business it's really all wsh- well pete can tell you better than anyone about the hunt but i don't have things like foot locker, even though i do think getting a stimulus check almost directly goes into sneaker sales for some portion of the population. but it's nice that the retail investor is back. >> yeah. >> names like ulta should have been better. it wasn't. >> pete, what do you make of the rally? is this going to be sort of the story line of the markets where we have the strong continuing rally in retail and we still have, you know, the higher valuation sectors, semiconductors today crushed, software continuing to get crushed. >> yeah. >> is this the continuing trend here >> i tend to think so, mel because of that i've just continued to add to positions or adding new positions as a matter of fact, home depot is a position i just put on about two months ago or whatever and i liked it because of all the reasons that they explained as they were going towards

earnings and it really made a lot of sense to me and tim talks about the dyi guys and home building and the rest fitting into the program. 83% digital sales, i mean, that's absolutely crazy. that's what home depot is. 45% of sales to the pros they have bigger tickets they really are -- as much as we all bring up, hey, lowes doing a great job in competition and everything else. and they are they do not have the same type of buyer that home depot possesses. that's really really helpful then look at tarring, another new high, all-time high, ploeding the upside, a lot due to the fact that they did such a good job both in the digital, online, that whole world it's gotten sticky and people are there and they're there more often i think that's a combination of things that we're seeing in a lot of various names i think a name like gap all of a sudden became a bit cooler because of the fact, that we're they have the online that's not

the cooler part but how about kanye west, byles, gymnastics, they have celebrity type folks that are being the pitch people now. and i think that's really big for some of the companies. a stock hitting $37 today. i believe it's another all-time high we continue -- or at least multiyear high we continue to see that movement right now. and it's a hybrid society. so, yeah, i'm one of the guys wearing a pair of shorts right now. >> knew it. >> but it gives me the opportunity. >> uh-huh. busted. >> and it gives me the tune to do that, because, you know, what we're doing. we still go out. people are going out to dinner not every state is it competely shutdown and everybody is opening up a bit more with vaccines and everything. so yes, people will be buying some of the items they need to that do have buttons and zippers and the rest of that. >> tim, you're raising your hand you have a question, comment. >> mel, can you ask pete if when he goes out dinner that he takes

off the shorts and puts upon a pair of long pants. >> well, i think you just asked the question my guess is that he still wears shorts depending on venue but shorts the primary -- pete what do you say. >> mel, you read it like a book. i'm telling you right now that's that harvard education right there. yes, it depends on the restaurant but, yeah about a 50/50 call but somewhere nice, then shorts are probably not really what i need to to be having on. >> i think it's more than we've known each other a long time guy, inherent in the question that i originally asked pete in terms of the trends of the market, the reopening trade, the retail trade going continuing to go higher while which still have the continuing crush of the higher valuation names in the stock market, inherent in that is sort of a paris trade is this a pairs trade to put on? i think if it is we should caution viewers that xrt if you're going long xrt you're not getting a piece or big piece of a target, home depot, it's not

that trade the top holdings of the xrt are names you may not have thought of like a vroo mm academy sports and outdoors, leslies's hib et sports, american eagle outfitters interesting bunch. used to be gamestop at one point in the frenzy. but it got knocked down. >> no, it's interesting, i think you talk about a broad are market question. listen, i do think the retail names can continue i'll bring up one more just to add it in dollar gen had a huge move up, then cratered to 175, reported earnings, the knee jerk lower. look at it since it's challenging the all-time high i only mention because i think the retailers continue to work but can they support the broader market are they big enough to help this broader market continue? i don't know what the answer is. but we heard over the last couple weeks from tony divider last week, mike wilson, from svita from bank of america they all like the same thing, although constructive long-term, the short-term concerned them.

mike wilson thought anywhere from 10 to 20% correction over the next three months. i don't think the retail trade, the retailers can support the broader market but i think the retailers continue to work. >> more on the market with julien emmanuel. and chief equity and derivative strategist juden good to see you. >> good to be here. >> when i read you want to own consumer staps i upgrated staples, i thought wow, defensive here. what's behind the call >> if you look at it, for months now, part of the reason you are talking about retail, is that you had this intense rotation in the markets. the the winners became the under performerunder performers came out. we got positive and large cap tech and growth when nobody wanted it. that works nicely. here we are in may, and the market is completely obsessed wsh as it should be, with

inflation, pricing power and supply chain management. so what we did was we looked at -- at corporate transcripts so far during the earnings season, and looked for the consumer staple's names that underperformed, have good dividend yields because we don't think the 10-year yield is running away north of 2% any time soon, and really have been lagging in an environment where they have pricing power. pricing power is absolutely parment now. i think again what we look for when the retailers start to report, are the ones telling us they are passing on their price increases at the store >> julian it's karen, let me ask you, who are the ones who do not have pricing power where you avoid that group or names? >> well, so for us, the other side of the coin is this whole idea of supply chain management. and looking through the same corporate transcripts, what you

see there -- revocable trust a number of industrials, a number of technology companies, there are a few consumer discretionaries that really some of the fang type names that we know are under pressure because of the supply chain issues they tend to be price takers for their components and not necessarily able to pass along the higher prices. it's more about the fact that those stocks also have been high multiple, outperformers in an environment where we think ultimately the focus on inflation, the fact that yields are likely uncle to continue rising, even if slowly, is going to refocus people on value over growth and those are the kinds of names that we think are likely going to underperform for the next several months at least. >> hey, julian be with tim, right, you're talking about value over growth, rotation and in reading your notes, you mention that the rotation themes

seem to be much shorter lived. can you explain that and that that's a negative. to me the stents sense that we've had a lot of rotation, back and forth, cyclicals to some of the high-growth, to value to growth, megacap tech, et cetera, to me suggests a lot of breadth in the market but you seem concerned so explain that, please. >> so this is a long-term versus short-term picture, tim. long-term, the fact that there is breadth in the market is a decided positive the average bull market of the last 100 years is over four years in length. and rallies over 150%. we're 13 months in we're 90% off the bottom long-term we think there is more to go. but in the short-term, when you think about it, you tend to want to be able to identify a discreet leader, whether sector style, market cap, what have you. and that narrative has been sort of lost.

when we combine that with what weaver seen the last two weeks, with the vix rising simultaneously to the s&p 500 rising, that has almost every single time certainly in the last three years been followed by a pullback. >> julian, great to speak with you as always. julian emmanuel, of btig, price target for the s&p 500 still 4,000 by the end of the year guy, that's roughly 190 s&p points lower from where we closed today do you agree with the call of you want to be long staples? >> i don't think it's unreasonable you look for places where valuation sort of makes sense. i mean, they haven't gotten crazy. and i got to tell you, the move in some of the semis is absolutely concern concerning we'll talk about that in the show buff but you've had great earnings releases from the names. and the price action has been in a word lousy maybe julian is on to something. and he echos a lot of things that the three people i talked

about before said as well. i sort of like what julian is putting down and i sort of dig him generally. so good for him. >> coming up, the twitter twunl, the social media stock falling again today now down nearly 20% since reporting earnings so is it time to buy weakness? later up we gear up for lyft, reporting results tomorrow after the bell but setup into earnings, stay g "fast money" after this quick break.x=

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welcome back to "fast money. shares of twitter falling again today despite reports of big-name investors buying in during the company's nose dive kathy woods arc invest purchasing 1.3 million shares. the new reports paul singer elliott management buying more than $200 million worth of twitter shares down now about 16% since results after the bell thursday. what was interesting i thought about the price action was that we knew that cath withoy wood at the open bought shares on the pullback the stock was down what turned it around was the report that elliott management stepped in to buy $200 million worth of shares. you noticed that karen, too. the activist got the bid in the stock but kathy wood with the

sess supposedly midas touch did not. >> i'm not sure why. both are great investors activism is interesting. we know they have been active in twitter in the past. that made me think, oh, how can they buy stock don't they have an insider on the board. they do. jesse cohen. but that would maybe prevent them from buying stock except in a window where you are open to buy, after earnings. so i don't know if it was them ip don't -- we'll see soon enough if it was, i believe. but if they couldn't have bought before earnings. they perhaps could have bought now. makes me think, all right, that's possible. that will be interesting if they in fact have we should see that soon. there would be a form 4 filing turbthe director, i think. so that i think is the catalyst more than arc. and i don't know what sells on the agenda we know last time it was not moving -- having jack not move to africa and being in the same time zone and putting members on the board which they did i'm not sure what else

but this could heat up it's interest interest interesting. >> jack tweeted he said that he would definitely move to of course a at some point it's not off the table in terms of a different time zone there is a report also that users might be abling to sell tickets to twitter spaces, for instance, of petes with on a twitter space and decided to sell tickets because the conversation he is having with guy on space is so hot you could possibly do that and that might be a way of monetizing, pete i don't see if you see value in the dip. i say dip. i probably use that diplomatically because this is a 20% pullback. >> yeah, this is a significant pullback, no doubt about it. directly from what everybody heard. but i think that what stood out for me mel is why did they sell? the main reasoning was some of the guidance they gave seemed a little bit weaker than expected. and that happens often times we see that all the time, especially stocks made tremendous runs like twitter made so, you know, i look at this as

opportunity. i fully understand why elliott and fully understand why kathy wood would be interested in this stock on the pullback, because when you look at the growth numbers they had, the revenue growth, ad growth, everything, it looked strong, international ad growth as well. all of that combines for me for an opportunity opinion i think this is an opportunity for twitter. so i can understand wanting to step in now, because when you look at where in stock was not that terribly long ago and the primary reason for the selloff was, well, we were a few ticks less than what everybody expected on guidance maybe they're i don't think wrong on the guidance. maybe they were kind of putting in a softball in terms of what they were looking for and said, well, we're going a bit light are. i don't know but it seems that was the trigger. if that was the only trying are maybe that growth is going to make up for that this quarter. >> tim, are you a buyer of twitter at 54? would you be >> i think there is an opportunity. i -- in hindsight this is all

very clear, monday morning quarterback, et cetera but that investor day was so over the top in terms of the optimism around how they are going to have the product ol rollouts, diablo double revenues by 2023 seems will be almost absurd in hindsight. i think the market got ahead of itself the stock has been punished if you look at the intraday highs to the low today. i think you're at 36% in 45 days is if overdonentiment way bulli? clearly new product offerings are great but this is the same company we've been wanting to roll out new products and increase and monetize a long time why suddenly like that are they turning it around? i think if they had to do it over again if they care about how the stock performs they would not have delivered that message. >> that investor day was in february, guy just before the lag up to the recent high? i mean the market brought it up.

but what they were selling up, like nobody's business >> that was true for a lot of things, mel. trading $80. saw a 30% since then pretty much in a straight line i thought it held 59 i was wrong. got to tell you traded 80 million shares today four times normal volume, traded well today i thought and the uptrend from the march low i think is still intact. if they get away from the monthly average user daily average user metric non-sense, that the market seems focused on, it should be focused on the things pete talked about total ad engagement up 11% year over year. i think today was the flushout in terms of volume and price action pan to answer the original question, yeah wab i think you can own twitter at $55. >> we've more ahead on "fast money. here is what's coming up next. spring is in the air and the chart master has three names blooming with opportunity. as we kick off the month of may. carter werth joins us with his

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of those ready for the next challenge. today, we are translating decades of experience into strategies for the road ahead. we are morgan stanley. tonight pandemic end game. how do we get there without herd immunity plus apple's app store on trial, the landmark case that could change our phones are ever. >> the facts, the news with shepard smith. cnbc >> breaking news on the covid vaccine front. let's get to berth acoombs bertha. melissa two bits of news on covid vaccines first biotech firm vaxxer surging after hours after the company said it saw positive results from a phase 1 study of the oral covid-19 vaccine saying early data points to positive immune response against the scorches elsewhere, the fda is reportedly preparing to authorize the use

of the pfizer bioen tech vaccine in adolescents, 12 to 15-year-olds as early as next week, according to the "new york times" citing federal officials familiar with the plan that would certainly make for a whole new ball game for this summer, melissa. and back to school. >> yes, bertha, thank you. good news on the vaccine front pmt. vaks art, vrt very volatile in terms of intraday swings i don't know if you have seen this one but it's up 200% the past 12 months down 18% in the past three up on a daily basis 10 or 12%. one of the sort of binary lottery ticket sort of biotechs in terms of how is it reacts to vaccine news pete where do you go on this trade in vaks art, the smaller boir techs that could benefit and also the accelerated potentially reopening because of a younger demographic that can

be vaccinated now. >> yes, it's very interesting, mel appear at vaks art we've had a lot of option thrift crazy. and the fact the market cap is up where it is we can talk about it which is nice i'll era i'll tell you it's been an unbelievable performer as you point out. but it has had a lot of volatility i love the name. i think they're one of the ones that reacts when we hear any news there i'm also in j&j not because of this reason alone but certainly talking about vaccines and pfizer as well, i think that there is a great piece for each and every one of those but i think the reality is vaks art, if you are looking at something closer to go at vaccines, right at something like covid this is a name that i think the other names with your you're looking at great pipelines, companies that have been around forever and continue to flourish and continue to build upon what they've done in such an unbelievable warp speed as they call it. but i'm still amazed by this, mel. i don't know if people fully

appreciate how fast that was done and how accurate they've been at least up to now. >> absolutely. let's move on, spring in the air, the first trading day of may in the books and the chart master has three names blossoming with opportunity kicking off the trading month preponderate cornerants macrocarter werth choins joins you now what are you looking at >> what do we know before we get to charts, the s&p, 15, 14 months raert is 20 plus% above the pre-pandemic level from which it crashed 35% i have three stocks, complete cli different. one is just back to its pre-pandemic high, unchanged in 15 months. one do you 20% and one up 30 above the pre-pandemic highs but all at buy junctures by my work. the first one chart it's cvs pmt here you can see it. it's sitting here right at the level from which it crashed along with all stocks before the pandemic hit i think that's an opportunity.

it is unchanged. it's coiling, toying with the prospect of breaking out above those former highs as we have seen in so many stocks a circumstance that is buyable look at the next stock a totally different circumstance this stock at&t is down 20%. you can see from the pre-pandemic level but it's an opportunity for a different reason from my seat it's a bearish to bullish reversal the stock that has been basing and bottoming and starting to show impressive relative strength and bullish price line correlation with head room to run. and the third stock completely different. texas instruments, a good steady uptrend, the stock way above the pre-pandemic level, 30, 35% more than the s&p but you can see this order -- very orderly sequence. the pullback exactly 10% drops from 197 to 177 all the dips the past year have been about that 8% to 10% and we think this is

another one. so so it's a buyable moment of weakness all three are different but all are at buy junctures, at least to my eye. >> carter, thank you carter braksen werth karen, i know you like cvs. >> i do, right to my eye, which is different than carter's eye but i love to hear or see that we see the same thing. for me cvs is a value first. right? and one of the lesser thought about parts of cvs is their aetna business this was an acquisition a couple years ago. if you look at what's happened to the other insurers those have all done really well i think it's a are reopen trade as well, both people getting vaccines but going and buying whatever sundries that maybe they bought on amazon before and i think that will continue i don't think this is a one-time only i think we see people getting vaccines or flu shots more than they used to in the past so with the valuation here, and

my thinking the business has momentum to the upside, to me this is as a a value trade, this is about -- this is the best i've seen in a while >> of the three charts that carter laid out, guy, which do you like the best, cvs, at&t. >> would you rather rather i love that? i can play that game because i understand the rules chaerls victor sam cvs look at it november 2018, stopped at 80. i think we get through they report tomorrow before the bell by the way. and valuations are reasonable. close to about 80 this sucker off to the races valuation on your side. out of those three in the would you rather rather cvs, mel. >> all right coming up out of ether ethereum blowing through a new record now quadrupled this year alean in the cryptoking? pete takes the mound to pitch the best idea. saying it's a home run investment investment we'll brin

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welcome back to "fast money. the s&p 500 kicking off the first trading day of may with modest gains but pete says it's time to play defense. he takes the mound for a fast pitch. pete, take it away. >> all right, mel, i'm going to

give you lockheed martin this is why i like it so much. you look at the new ceo jim ticlifp he was appointed march 1st of this year it was phenomenal what they did. because they have the rotation of ceos about every five or six years. you want to dogbe about leadership and discipline. this is a gentleman went to the air force academy, gaut foot gulf war went to princeton and turned a company from a $2 billion company into a 100 billion company now he is at lockheed martin. i think he knows a bit about defense and the aerospace business secondly i like to look at the fundamentals of the companies. looking at the fundamentals and see a company trading at 14, 15 times pe in the environment we're in right now, that says a lot about who they are, where they are and i think the direction that they potentially can go from here also, when i look at the debt to ebidta at 19, tells me they are not leveraged which they are not they have incredible free cash

flow, about $6 billion their free cash flowing. every part of their fundamental story is a pristine part of what i look at when i look at the balance sheet. and lastly looking at the company i look for growth, right. and when i'm looking for growth i see revenue growth annually over the last five years of close to 10% when i look at earnings, closer to 20% that's every five years this analyst rate, unbelievable i think this is a company that is way undervalued that has plenty of upside, as a matter of fact i just bought some shares today. so i'm a guy who is actually eating what i'm selling you right now because i think this company can go high are. and it's a buy right positional stock because it trades in a tight range. and this is the kind of stock where i think i can sell options against my position for a really long time and maybe make some pretty significant money. >> all right tim you got a question for pete. >> pete, yeah, i do. and look, i share your confidence in the balance sheet, confidence in the leadership

and i'm puzzled by the performance of the stock it is -- how much of in is just a fewo view that defense spend something moving away from these guys, despite the fact that we heard this story before and frankly i don't buy it. >> yeah. >> but, what is the -- how do you beat up the bull case on this because frankly, everything else points to bull >> yeah, i'm with you, tim i totally understand that's why when i mentioned buy right. what i mean is when you look at the dividend and get the yield from the dividend and add to that, if you are selling a 10% out of money option against this stock every month, the amateur going to be able to bring in hon a percentage basis plus the dividend yield could be very, very significant i'm talking about very much in the middle -- well definitely the double-digit sort of area in terms of return. that's what i like about it right now. i wish it had better performance on the stock it has not but that's why i set it up owning the stock and willing to

sell upside against it each and every month. >> this is one of the more interesting passages because we've had because you're not pip pivrpg the stock performance you pitch that it's a tight range, the dividend yield and sell calls against it it's a trade you are pitching on the stock as opposed to the stock outright it's also by the way not headquartered in minnesota so this also makes it unusual for pete any more questions for pete's pitch on lockheed martin guy what do you say. >> mel are you able to read the smart board. >> let me try. >> roan and martin i can't read that negative senator ruth martin, negative lockheed martin, yes >> yes great job by you, mel. wonderful job i like the way you did that absolutely we talked about this since january, i've said if gandhi could be president and defense spending is going to go higher lockheed martin troughed around the time of snaurgs at 320 i'm with pete look at the pies

prargts 410, 450 i think that's where the stock is headed. >> tim, what do you say? >> pete, sorry my drawing is not as good as they are when we're in person. but i'm a buyer of the story i think the-free cash flow yields of the the company are extraordinary. i think the balance sheets -- you should have a lot of confidence as an investor betting here i think defense spend something going to surprise to the upside. >> karen, you going to round it out? >> yes i rarely use the rocket emoji. i try to create a lame one leer. lmt. i like it. i'm a buy are. always valuation is interesting to me. attractive here. i really like it. >> all right well the traders have spoken but are you at home buying the pitch on lockheed martin vote in the trader poll at cnbc "fast money" results later in the show it's a bird, a plane, ethereum, the cryptocurrent cancy soaring to all-time. break down the move and what it means for the crypto craze. it means for the crypto craze. for minneapolis straight

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i knew there would be a question on bitcoin. and i thought to myself, well, i've watched these politicians dodge questions all the time and i always try to find of

disgusting when they do it but the truth is i'm dodging that question. >> of course i hate the bitcoin success. and i don't welcome a currency that's so useful the kidnappers and extortionists and so forth nor do i like shuffling out a few extra billions and billions and billions of dollars to somebody who just invented a new financial product out of thin air. so i think i should say modestly that i think the whole damn development is disgusting and contrary to the interests of civilization >> strong words. that was warren buffett and charlie munger this took place over the weekend at the analyst shareholder meeting. of berkshire hathaway, bitcoin moving slightly higher today of course year to date it's doubled. but the big story in crypto lande therm, the cryptocurrency

surging 11% all-time high. well above 3,000 thanks to the nft craze and the network effect all about the transactions taking place $1.5 trillion in transactions in the first quarter alon which is more than the 7 prior quarters combined, tim it's amazing >> so the -- the validation for ethereum is front and center and whether it's the numbers you are talking about, seven new -- 7 million new ethereum addresses now to 5 a million, whether it's the eib issuing $200 million of bondsen a an ethereum network. there is no question there is a use case whereas people have questioned what a lot of digital tokens or alt coins could be used for. there is no question about what this could be used for so, you know, this is to me for the skeptics out there this is such an easier story to get behind especially in a world

where nfts have run wild backup that development in terms of indigentizing assets has only begun. it's exciting i'm long for what it's worth. >> the non-bitcoin cryptocurrency universe is growing. bitcoin's market value as a% of total crypto market value is below 50%. guy for the first time ever, first time ever i should say. >> that's right. >> think about tp the whole universe is the $2.3 trillion right, the biggest company on the planet at $2.3 trillion. i might -- listening to mr. buffett and in mr. mung are talk i'm issuing the get off my lawn coin and make a fortune, because that's what they sound like. the arguments are so 2012. i'd love to hear what b.k. has to say or some other folks i'd love to hear mccale jolet and michael say. i understand concept iks

i'm somewhere on either side of the coin no pun intended but to hear those guys talk it's 2012 reduction. >> the market tells the truth. we'll see. coming up lift on time to pump the brakes on this one options tradeder not to late to vote on the twitter poll for lockheed martin cast your vote at. don't go anywhere. g

welcome back here a sneak peek at the skramer cam. jim talking with the ceo of lydol. big news from fidelity today "the wall street journal" reporting the asset manager halved the value of the shares in ant group now valuing ant at $144 billion. just last august fidelity valued the company at roughly $295 billion. check out the action in shares of alibaba, the stock finishing the day near the flat line, karen, though, actually sees the write-down as good news for baba investors. karen, why >> right well it's not the best news ever. but taken out of context look at this

they said today $144 billion is is the valuation they're going to use the mark the alibaba position down from 295 billion, as you said. so that's $151 billion change, right? alibaba stock at that time when they had that $295 billion valuation was $300 and yet the amount of the writedown, 151 billion if you take alibaba's share she only owned a third. you take that gets you 53 billion you divide by the number of shares appear you come up with $18.64. that's how big the writedown that fidelity took is. however if you look what's happened in the stock, the stock is down $63, right, since they had that prior valuation so i think this is actually above where the street -- this 144 values is above where the street has this embedded value

of ant financial so, to me to me, i don't think -- i think it's actually a positive because people must have had lower numbers in there that that $60 of the stock's down and yet only $18.64 of value lost, don't -- something doesn't -- there is a disconnect to me. obviously i'm talking my book. i'm long baba. i think it's cheap i think right here -- i would even say if ant is valued less that's fine as well. but one other thing that's really important ant is -- they don't -- alibaba from the position of ant does not see anything in their income statement. s it only on the balance sheet, the value of the equity, right so that's -- this is just kind of noise blah-blah blah, put it together, i don't see this as bad news at all. it was spun that way it shouldn't be. i'm long alibaba i think this is way overdone, particularly on the ant news. >> really quick, tim, on alibaba, you've long said that basically ant is nothing -- you know, you don't consider it

anything in the valuation of baba >> well, i feel as if we -- we had written it down in the market value of alibaba similar to the way karen did with a great sum of the parts kind of break down of alibaba shares i just think when you consider the assets here and you look at the dominance of the platform overall whether gmv is growing where they are relative to peers in asia -- the fact that they have publicly and clearly said that they got ahead of the government, more or less and that they accept the fund and thanked the government for the fund this is exactly as an investor what i wanted to see i think this is one of the most interesting value trades in megacap tech >> all right let's get to earnings. lyft on deck after the bell tomorrow options traders aren't convinced the ride share stock impresses mike, what do you see? >> yeah, so right now the options market is implying that

litt could move about 8.4% higher or lower by the ep of the westbound. less than the 10% the company has averaged the week they reported over the eight reported quarters as a publicly traded company. puts outtraded average volume by two times and the most active options were the weekly 60 strike calls, almost 5,800 of those trading $1.20. the large put spread selling basically what with we see is some bullish sentiment but not as bullish as past quarters. right now the options market implying a 52% chance the stock is liar at the end of the week. >> thanks for that, mike mike khouw up next the last call to vote for feet's fast pitch on lockheed martin. do you think it's a buy? head over to the twitter poll at he "fast money" to vote. he "fast money" to vote. weavthe result ♪

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gary vaynerchuk. vital resources to help owners overcome extraordinary obstacles. stage a come comeback, register now at cnbc events.com/small business playbook. time to reveal whether you at home buy pete's fast pitch survey says, home run. home run, pete, you win. 60% of voters playing office lmtp nice win. >> time for the final trade. pete, the victor what do you say? well which got to go with lockheed martin. i think they're right. i feel like i'm right. lmt the stock to buy. >> chairwoman. >> yes, nice pitch, pete i like cvs tomorrow morning not so much. it will be earnings but i want to hear the outlook as well. >> tim. >> good for pedro on the would you rather rather that i wasn't asked i'll take at&t earlier off the board for 200.

i think the debt story the the max i like it. >> that's bringing back the guest. i don't know guy. >> oh, stop. it is not. >> it's just like -- just like bringing back the guest, for tim. dollar general, dg gngoi high. >>reporter :my mission is simple, to make you money. there is 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, other people want to make money call me 1-800-743-cnbc or tweet me @jimcramer. is this the calm before the calm after one more r