i think the market wants confirmation we're in acceleration phase, some of the estimates are closer to 2 million. >> great final hour of trade left us up nearly 4% on the dow and 0.4% on nasdaq we're out of time on "closing bell." "fast money" starts now. >> i'm melissa lee, and this is "fast money. tonight's trader lineup guy adami, dan nathan, pete, and jeff mills tonight on fast we're tracking peloton, square and beyond meat. all three stocks on the move after rarting results, their calls are just getting under way. we'll dialled in and bring you headlines. and patent problems, under pressure what to do when you own these names. and what to do, live from new york, it's elon musk i'll never host "snl." spotted on the streets as he gears up for this week's "snl"

appearance what he said that got us going on the one side recent high flyers are crashing back to earth, fastly, etsy, twill twmauricio io -- many trading at or near all-time highs in this tech tug of war what side do you bet on, dan? >> well, right now it seems pretty clear, the pandemic winners, some of these high valuation, high growth names that were well situated during the unique situation during the pandemic that pulled forward a lot of demand and are now faced with decelerating metrics going forward on all sorts of occasions. you have fastly down 25% today it still trades at 10 times next year's sale. so the demand and pace in which

these companies are growing last year into this year are not sustainable at these valuation i throw a whole other group in there, mel, we've seen huge ipo's in the last six months or so, air bnb, door dash, palantir those stocks are down 30, 40% from recent high and they may be comparable to dell, ibm, cisco, it's an interesting relationship you're seeing rotation out of the high-valuation names into cheap names that are more stable that don't have the growth they're just a bit more defe defensive. >> yeah this despite ten--year yields behaving, where were we today 1.65%. jeff, rates are not scaring people out of the high-value tech names, it's something else entirely at this point. >> yeah that's the interesting thing, if you look at tech across the board, i would favor the more value-oriented areas

but you have a fed that continues to be very dubbish you have rates that haven't moved and strong earnings in the case of fang and the stocks haven't behaved that well, that doesn't make me fell particularly good but i think the marking is sniffing out affirming yield you have the copper vaergs gold ratio increasing, continued increase in staples and germany boone. all of the things tell me rates are going to start moving higher again and perhaps this time the equity markets are outsmarting the bond markets, i know that's blaspheme to say that, and i will end by saying the real rotation is not necessarily growth and value it's in the fundamental. the areas of value aren't working. it's the factors that are eps growth, eps surprises.

that's the area of the market you want to be for the foreseeable future. >> let's say as much as you love sock puppets guy you don't want to be in an etsy in this environment, you just don't, you don't want to be in a fastly is the answer being in ibm is that really the trade we're looking at this point, do you think? >> there are other alternatives. before we go there, i read on the internet that david favors will be hosting "jeopardy" for a week, good for him i know for a fact there's a window of opportunity for you to host "saturday night live" but with that read at the beginning of the show, live from new york, you blew it. >> totally out, i'm out, it's too bad. it was my life-long dream and it's dashed, gone, out the window i'm gonna have to think of something else. >> yes you should. stick with mass money it's worked the last 12 and half years. no listen, i don't think that's the

alternative but this is a good sign the fact the froth is coming out, like when you drink those caps at starbucks three quarters of it is foam but the essence is the coffee beneath and the essence of this market, oracle, cisco, maybe ibm, it's a good sign the froth is coming out and market finds value in fundamentals and it's a good thing. >> we've played many games on this show over the years, one is value trade or value trap. i will embark on that before we play the next game in a couple minutes, pete, that is if you take a look at ibm, we talk about ibm often, is that a value trade or value trap. the valuation 4 pe looks decent. 13.6 up 18% so far this year but is that going to do you well

in your portfolio? >> well, i do happen to think it will, mel matter of fact i own the stock for quite a few years. the thing people forget about ibm is yes, i totally understand, the stock has kind of gone a lot of nowhere but i like the change in upper management positions, i thought it was something that needed to be changed years ago, they finally did it and white hurst and the gang have taken over and now a story about red hat more than anything which was the acquisition ibm made which was a monster. i think they're going in the right direction. that said, i think it comes down to fundamentals. we talk about it all the time. we're always talking about pe, when we talk about those names i was listening to dan when he opened up. he is 100% right on this we're measuring names against sales rather than earnings tells a lot about what the stocks really are. not only they've pulled ahead

they were in the perfect spot, the perfect time, it was the perfect storm, that's all great. but going forward, now what? and is there still enough room do they have what it takes to become real stocks with real earnings or are they just going to burn through their cash i look at all of those high-flying names we talked about in the beginning, the fastlies and everything else i go back to the fundamental story what we look at, do they have great management, great fundamentals and some form of growth now or some time in the future i think all of these old-school tech names have been learning over the years you see most of the names are all added some where in the cloud, and i think that's the direction where everything is moving right now. >> among the high flying tech names that falter we named also draftkings and penn national jeff mills, down 30% from highs,

do they still look good or do you say we're going to go back to the fundamentals because maybe 30% ago you kind of liked this sector. >> yeah, i think at least in this environment right now those kind of valuations are going be out of favor doesn't mean they're not good companies or stocks for the long-term. i still believe very much so in the secular tailwinds associated with online gaming, things of that nature. penn reported today and it's down big i think you have to start at least in the near term try to rationalize the valuations in terms of what's possible in the next quarter because things have gotten ahead of themselves when you think of a penn and valuation bestowed on it because of its partnership with bar stool is 45 types forward versus an mgm doing similar things at 31 times forward does that gap -- does bar stool really make up that gap? i don't know thence to that -- answer to that and i think it

will take time for the stocks to catch up to valuatvaluation, short-term there's a problem but longer term will ultimately drive the share prices higher. >> there was metaphor about froth and essence of coffee underneath and frothy, three quarters of the cup, all that. dan, when you look at s&p 500 about 17 points off record highs, we do have a lot of that froth come out whether measure by ipo, spacs, software names or other high valuation tech names, is this actually a very good sign for the s&p >> well, it is on a relative basis. what's happening here, i can't remember the last time i seen the s&p up nearly 2x that of the nasdaq that really shows the s&p is up almost 12% on the year and the nasdaq is up a little less than 6% it shows you that there's plenty of names correcting. but guy brought this up, the mega cap tech names, apple and amazon make up $4 trillion of

market cap, they're two of the largest names in the s&p obviously and the nasdaq also, and they're in a holding pattern going sideways and the question you have to ask yourself is what is the incremental buyer paying for. we know even their valuations are very high. you have an s&p up 12%, it seems to be baking in a lot of the news about rates where they are, about qe where they are, about second-half growth, to me i would lean more on the fact that you're seeing all this exuberance out of high-valuation names. i suspect something is coming for the broad market in the not so distant future and it could be related to crypto too. if you think of the crypto ecosystem went from half trillion 13 months ago to 2.3. to 2.4 at some point very soon we'll see how correlated risk assets like stocks or high val stocks are with the crypto market and

i'd hate to see these go down the same way. >> what's your take -- >> first of all i umbrage, i think the fact we can pass the baton to high flyers with reasonable valuations without huge disruption in the broader market is a good thing >> so we thought it would be the perfect time to play a little game of -- >> trade it or fade it >> i know. we kept you in suspense for a minute that's right trade it or fade it, value tech edition we kick it off with big blue ibm rallying more than 17% this year so dan, trade it or fade it? >> i think you will be surprised i say fade it. this is a very nice technical break out. pete, i think the reasons why he's long, i think it makes

sense. i think these legacy businesses will not be growing any time soon so you better get what you want out of the cloud business, cognitive solutions, it trades at 13 times for a reason, especially after that big rally. they're not expected to get back to peak earnings of few years ago for another few years, this is a sit and wait thing. i think there's better places. i would rather buy names that got creeped in got creamed in the last six months that have a good future but not at high valuation point i'd rather buy those on the way in rather than ibm on the way out. >> guy, i want to get your take? >> i'm going to trade ibm do that graphic, whatever, trade it somebody roll some sort of graphic for me because i like it here i think finally they're starting to see the fruits of their labor with the red-hat acquisition

it's taken a while and stock is breaking out to the upside so i'm in the trade-it camp. >> next up dell on the move, 35% up this year, mills trade it or fade it? >> i'm going to trade this one i don't know if it's pound the table trade but i do think this is generally the area of the market you want to be, whether talking about pure value or actually in technology i like dell. i think what they've done with the vm wear spin off helps the capital structure and gives ability to raise new capital there. i think the apex services is interesting. you still have 75% or so of business computing happening outside the cloud. this is the type of thing to allow companies scale up or down without a huge cap x outlay. whether you're talking about that or hybrid cloud those are areas of potential growth, though the stock is at all-time high the valuation is not

forward i think it's reasonable entry point. >> with the spin up they're able to take on a lot of debt pete your take on dell. >> it's had an incredible run and then a pull back, but i like this name, fundamentally they're sound and there's upside i'm in the trade it camp. >> check out oracle 20% gain this year. dan what would you did, trade it or fade it >> you're going to be surprised again, i'm fading oracle here, it's at all-time highs the stock is in a up friend but a little volatile they're not going to report for another month i think there's a theme going on, these are all value traps, if you will, depending on the metrics in which you're looking. oracle in the last 20 years is a massive roll up. you tell me what's the multi billion maybe $10 billion acquisition they're going to get to keep it rolling, then i'll tell you whether to trade or fade it again, that's the way it grows, there's no real organic

growth here. >> jeff, what would you say? >> dan makes a pretty compelling argument, can i change my answer, but i do think i would probably trade it here i think you're seeing good growth in the cloud business i think that will drive some multiple expansion from where we are today. we're heading into a better i.t. spend environment whether talking about saas or infrastructure as service business i look at the chart differently in the sense that you're in a well-defined channel for the better part of ten year and just broke out of that to the upside so play the momentum in the short-term. >> last li, cisco up 17% in 2021 pete, trade it or fade it? >> i'm trading it, mel. i think this stock because of the fact it's already made a move doesn't mean it can't go higher, you look at the valuation levels and pre-cash flow and security, web ex, software, there's a lot of different reasons to like this

name right now it's made a move i totally get it but i think this stock has a lot more room to the upside so i'm going to trade it. >> dan by the way you mentioned you would rather buy stocks that are crushed rather than traps, so can you give us a specific name. >> yeah, air bnb is a great example, they lose money but we know it's massively disruptive and going to be around a very long time and we're in a specific market moment where investors just transitioned from private investors who have been on this train for ten years and now the public market is valuing it a bit differently, a lot of the peers and that sort of thing, so it's going to find a place where it makes a lot of sense if you have a five, ten year time horizon. there's a lot of stories like that coinbase on there, high as 420, it's below $300 right now, i don't know where it bottoms out but at some point in the not too distant future it's going to be

a great long-term add. i'd rather focus on the disruption of the next 20 years than companies that had it the last 20 years. >> guy fade it or trade it. >> i think trade air bnb and coinbase take a pass i heard it broke down by deidre bosa it was a pick in the stock draft a week ago, i think the sell off is significant enough to own air bmb at this level i happen to be with dan although i didn't get the cash register. >> you did. >> whatever they did -- it upsets me. >> you did >> i did >> you did take our word by the way the rotation out of high growth tech taken a toll on cathie wood ark she will talk about the pull back and what she's investing in won't want to miss that. up next, peloton stock sinking after posting quarterly results. plus vaccine makers fall out

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to. welcome back to "fast money" we have earnings alert on peloton shares down 5% in the after-hours of the call now under way let's get to diana with the latest. >> ceo john foley opened the analyst call reiterating the example made a mistake not stopping the tread sales immediately and said they're building new safety measures and said there would be a software safety update and physical hardware to enhance the safety of tread plus. once it's upgraded they will start sells again but no timing on that, they will continue to produce content though, he said there's a short-term financial impact but q3 earnings beat expectations across the board. connected fitness subscription more than doubling year-over-year

peloton reported significant improvement for wait time for bike delivery. there's no guidance in the report but likely discussing it now as the call goes on. we'll bring you updates as we get them. >> thank you diana, keep us posted on that guidance. there's a lot unknown in terms of the guidance, in terms of what they anticipate the hit will be, the financial impact as well as how it will delay production of the newest product. jeff mills where do you stand on a story like this where there's not a lot of clarity >> no there isn't. and i think part of the problem with a story like this where there is a lot of cloudiness around what's going on is just the valuation is still high. it's certainly a lot better at 130 times earnings than at 690 times earnings last fall but for me, i still have to think growth rates continue to come down a little bit gyms are reopening tread plus thing is a nightmare. i don't necessarily think home

fitness is going anywhere. i think it is a trend that will continue for a long time i do think the reopening hurts a little bit there's a lot of competition out there, that hurts a little bit, and again the stock is still very expensive. >> yeah, dan you got one in the background what i heard today is a lot of people love their treadmills and they're not going to send it back, they might move it to a different room and peloton will help you if that's what you want to do, but they're not going to send it back. >> funny, a lot of people tweet at me why we do this asking why it's in my living room in part because i feel like i'm in a peloton commercial it's a great run it's a great device. here's the problem, they have a pr-issue, if they came out and met it head on they wouldn't have had to do the recall in the manner in which they're doing. less than 10% of sales the optimism, upside scenario for the story is that new

lower-priced tread they're trying to buy pre-core there's going to be a lot of devices there. like mills said it got really expensive and over shot to the upside and likely to over shoot to the down side a little bit. i wouldn't say at $85 or so it's a steal, i think it's trading below $80. but it really depends on injure view -- your view about home fitness going forward they make great products and great subscription products too. >> there's a lot of hair so to speak, in terms of the outlook on home fitness and valuation on the stocks that doesn't appreciation high valuation stocks, the recall, we don't understand the liabilities either, this could be lawsuits, this is america, there will be lawsuits, what am a talking about. >> yes there probably will be lawsuits and we can argue whether they

will be frivolous but i will say quarterly $1.26 billion double a year ago. connected fitness subscriptions up 135% year-over-year paid digital subscriptions up 400% these are staggering numbers and the market is taking cues from what we're talking about now, the fact there's going to be lawsuits and stuff by the way i think do have clarity in the stock, look at the sell offs in the names, i do think it's interesting right side of $80 and i think it was a tremendous quarter when you just focus on the quarter itself. >> hearing some of the losses at this point down 4%, pete quickly your thoughts on peloton >> yeah i just consider it a really expensive hanger for your clothes later in life. honestly i thought it for a long time, no joking at all everybody got so excited because they were trapped in their homes, as we reopen and vaccines get out there, i think you will

see the numbers come back. the numbers guy is talking about are absolutely correct but those are a year ago, right. so let's think about where we were a year ago in terms of pandemic i think we have to consider all of that and just think what is the real kal 202-748-800 tha the real number that these guys are going to be able to gain over time. are they going to continue to grow against much more difficult numbers that they put up when really we were deeper into the pandemic and people were really shut down. so i look at this as a very expensive, very much like a lot of the other stay-at-home stocks, i don't know, they're going to make money at some point but i think it's a lot lower than now. >> we have more news from peloton now down less than 3%. let's hear from diana again. >> yeah on the earnings call they were saying they are giving q4 revenue guidance of $915 million, that is a $105 million impact i would say however the tread sales for 2021 as reported by

cowen were only supposed to be 2% of revenue, they are reporting lower guidance $915 million for q4 revenue. >> diana, thank you. really pairing losses pretty much in half at this points, guy, i think it's a good point in terms of the product mix. 2% of total revenue is not a whole lot, although this is a black eye reputationally as dan and jeff have mentioned. >> exactly right the headline risk is clear jeff and pete make great points, i can absolutely see what pete is saying at certain points it's something you hang your clothes on i think people are part of this community and people enjoy it. whether or not they enjoy gyms or not i don't think will take away from the peloton story and at $80 i think you can make that bet. >> we have a lot more ahead on "fast money.

here's what's up next. >> vaccine smack down, new fall out as the white house waives protection on vaccine makers what to do if you own these names. and elon musk talking to cameras as he gears up for this weekend's "snl" appearance, we'ltel ll you that and a lot more when "fast money" returns

hey, it's good to see you. the company we've trusted to keep us working remotely, is the same company we'll trust to bring us back together. cisco. the bridge to possible. welcome back to "fast money. check out the vaccine makers under pressure for the second day in a row after white house says waiving intellectual property rights for vaccine technology take a look at what moderna ceo

said about that this morning >> i lost sleep over the news. >> he didn't lose a minute of sleep over the news but should investors, great to have you with us, let's say patent protection is waived what happened for moderna. >> we have a headline risk versus the risk to numbers the headline risk is real, percolating since october last year when india started this asking the w.h.o. to intercede and now a lot of countries jumped on that bandwagon and in materials of the numbers, mrna vaccines are the most cutting edge products in biotech right now, the rocket science of

biotechnology production even if they put out the blue prints on the internet tomorrow it would probably take at least a year or more likely two to three years for any company in the world to assemble the team, the infrastructure, the hardware and software to be able to make these. so we're in good shape between the two things the headline risk is real. risk to numbers, almost zero. >> so even if they did that, put it on the internet, they would still have two to three years of sales of the covid-19 vaccine ahead of them? >> correct, correct. we've had other examiples of ths before in the '90s, got the lead with antibody protection and lost the intellectual wherewithal and through raw material they had a supply chain going that was difficult for people to overcome, same story playing out with mrna. >> the efficacy for moderna was

a proof of concept moment for its platform for its pipeline basically in which you know the pipeline is built on this mrna platform so if they do lose patent protection does it impact at all the development of the pipeline? does it jeopardize that? does it give others a peak into the secret sauce. >> it could and look, people will catch up with that. people caught up with the united states with rocket technology in the middle of the 20th century after we had a lead for couple decades. people will catch up but it won't happen as quickly as the street is thinking right now again, i've been to the manufacturing facility in norwood for couple years, i've been doing this for 30 years in biotech and i was stuped at the robotic -- stunned with the rob o otics and hardware and software and the people they train. it's different from anyone in the world.

pfizer and biotech can do it because they have a good 1ive one, two punch but just putting it on the internet is not enough. >> thanks so much. buy rating moderna $206 price target, best in class he calls this stock, by that logic, it should be a screaming buy, guy, would you say it is? >> i do. i think the technicians carter will be concerned we traded at prior high in february obviously the headlines didn't help nor did the revenue number eps was pretty good this morning. i like it. i think the really level to look at is 152. probably 7 or 8 from where we're trait ing now. that's a 50% correction of the recent low and then the highs i just cited i'm with him listen, you heard what the ceo said, he's not losing sleep i don't think traders should either. >> coming up, trades of square

on the back of earnings calls, under way, we'll break down the numbers. plus a rate warning sign, some traders are betting on big moves in the bond market, much more "fast money" after this

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♪ welcome back to "fast money. we've got a double earnings alert, square and beyond meat on the move we will break down it's numbers. first let's get to kate rogers on beyond. >> shares are tall falling with the call under way, wider than expected loss of 42 cents, nearly double what analysts were projecting, this is the third quarter in a row beyond has reported wider than expected loss revenue missed this quarter as well the company says it is continuing to invest in development, growth and eu in the u.s. and china sales jump 28% in the quarter with grocery accounting for three quarters of total u.s. revenue. a number that's grown during the pandemic food service sales in the u.s. fell 26%, restaurants are streamlining menus and traffic

is coming back slower than expected but the ceo said the company is seeing a slow thaw what's occurring in food service domestically and internationally. for q2 forecasting $135 million to $150 million. analysts projected revenues about $142.8 million for the quarter. so right in the range. melissa. back to you. >> thanks, kate. pete, what do you think primarily the reason the stock is down 6% after-hours >> i think one of the reasons is just the level of competition that's come about because initially it was beyond meat and very little other competition then it was tyson and other competition from bigger and bader folks making it a little bit more difficult as well this is a stock now that's actually hitting beneath the

52-week low. it's been on this path a while and there's still a very large short interest again, it's another name it's either a high multiple, no-multiple type name. so unless you can absolutely kill it on your earnings you're probably going south, i think that's what we're seeing with beyond meat. >> can't provide guidance with reasonable certainly jeff mills we've seen a lot of other companies now provide guidance for the year, do you buy that? i mean, i don't really understand that. >> i don't necessarily understand it either. when you are afforded the valuation that a beyond is, then i think things have to be nearly perfect. i think that's part of the problem. part of the problem is also the fact it's just getting caught up in this high-groanwth, high-multiple under-performance that i think we'll see for a while. to me the chart looks rough. you had a training range 115,

120 trading level we're now trading below that that concerns me a bit the reopening will obviously help with food services, things of that nature but i said this for a while about this company, i just question the total addressable market and don't know we're going to see a true shift in the way people eat that ultimately justifies the price this stock is trading margins have been under pressure quite a while. not for me even after the pull back. >> let's get to square, moving higher off earnings, kate with that >> huge beat in the quarter, thanks in large part to bitcoin. -- monster revenue number, $5 billion was mostly from crypto trading. bitcoin revenue added $3.5 billion to square's top line that number though is a little bit misleading, the more important one for square is

gross profit for bitcoin that was $75 million in the quarter to put it in context it was about 2% of the total bitcoin revenue number i did speak to cfo after the numbers came out and she explained that revenue for bitcoin is essentially the volume of transactions done through square she did say gross profits more helpful for judging the growth there, that also was up 11 x year-over-year, apparently that's how the s.e.c. asks them to report crypto revenue under way right now ceo jack dorsey talking about crypto driving more engagement of cash up which makes up half of square's revenue the seller business, the other half, is also showing signs of recovery guys, a third ecosystem is being talked about, the acquisition of jay z's music streaming service, jay z joined the square board, and dorsey is getting a ton of questions how music streaming

fits into the broader picture for square, we'll bring more highlights but ton of questions melissa back to you. >> just so we can understand the crypto part of it that's where analysts miss the mark in terms of estimates this helped i would presume by just the sheer run up in bitcoin because the revenue number sounds like the total asset of bitcoin that were traded on the app. >> that's exactly right. similar to what you saw on coinbase and other places in the quarter, huge bull market for bitcoin, a lot of trading going on, therefore the number for trading revenue for square was much higher than people expected $3.5 billion out of $5 billion total. but that gross profit number in the context of the whole bitcoin trading ecosystem was tiny square even said, guys, really focus on growth profit here. the revenue number is misleading but revenue beat by $2 billion

so analysts were way off on that number. >> thanks for clarifying, kate rooney dan, i will go to you, i feel like this is the robinhoodization of trading in terms of the downward pressure, this is like a loss leader for square to have bitcoin trading on their app they're not making much money off the actual trading but it's a notion it's creating a network in which people might use other parts of the app. >> listen, i buy that, that's been jackson dorse been jack dorsey's play the whole time with crypto, he calls it the money of the internet and he built a peer-to-peer payment system around that and made it easy for people to on-ramp into the crypto world so i give him a lot of credit. for those who don't think bitcoin can be regulated, rooney just told us that the s.e.c. is telling them how to account for their bitcoin trading volume that looks like apples and others, folks -- oranges, folks

a company that should have $3.5 billion in revenue and they do $5 billion that stock should be up more, while that profit is only $75 million which is a basically a rounding error on it so at some point the s.e.c. and regulators do have a lot of say on how a lot of our financial institutions are thinking about cryptocurrencies and i just put that out there because there's a whole host of tape bombs that could come out from the s.e.c. that might effect stocks interacting with crypto. >> especially with the new chairman coming in coming up, wall street seeing big act ahead of the kound to jobs report tomorrow plus tesla see ceo elon musk talking to cameras, we've got that and more when "fast money" returns. [music: “you're the best” by joe esposito] [music: “you're the best” by joe esposito]

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i'm so excited about "snl" appearance how do you feel about it. >> good. what do you think i should do -- >> so elon musk are you going to do a lot of doge jokes or what >> we'll see >> elon musk spotted on the

streets in new york earlier this week as he gears up for this weekends "snl" appearance, tesla ceo asked about dogecoin, down today but is absolutely surging this week, surging this week, outperforming bitcoin so what's at stake as musk goes live saturday night don't know if you want to comment on dogecoin but elon musk doesn't have the greatest of track record when asked to speak ex tem praniously and live, et cetera. >> i know they do this at midnight, i guess, i never been on the show, but i guess people hang out there all day and you hear of people having cocktails before the show that could turn into eight or nine god only knows what could happen with him i think it's a huge amount of risk for elon musk, not that i'm him, but i'd be on my absolute

best behavior despite what folks are looking for. so i think there's a lot of risk for him hosting this saturday evening. >> he might get in hot water with the s.e.c. depends on what he says live on the air. do you want ceo of a company that traded lower, sharply after its latest earnings report to go on "snl" >> yeah, i mean, probably not. right. but his history of bad behavior hasn't seemed to impact tesla stock price much so maybe for him it doesn't matter but i did want to pose just one question and maybe its because i don't understand this stuff enough and i'm sure i will get attacked on twitter but maybe people will give me answers. so if you have something like dogecoin and it can be created and have real value, what's it mean for bitcoin because bitcoin supply is limited. now we're saying the supply of cryptocurrencies is not. so what's the answer? either dogecoin is worthless or

do we need to question the supply and demand of crypto that's what i don't understand about all this i'm sure someone smarter than i will point me in the right direction. curiosity for sure. >> is dogecoin really worthless when it has almost $90 billion market cap at what point do you say it is what it is and it is worth something. coming up options traders ahead of tomorrow's trade. and first edly as cnbc celebrates asian american pacific-islander heritage month. >> you always have to speak up, if you are see ago a slight not just against yourself or other asian-americans but against any minority group, speaking out and having alliship with fellow people of color i think is incredibly important and necessary for the future

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call it's outlined the revenue impact of the recall in the tread plus in q4 impact revenue be $164 million, impact on the total year revenue will be $4 billion versus prior guidance $4.75 billion which is hardly anything, guy, really it's almost like a rounding error. >> but the question you have to ask is are you concerned with the headline risk but has it manifest itself with the price being $80 stock, i think at 80 you have enough cushion to own this stock we'll see what happens huge day. >> up 5% let's kick it off tomorrow april jobs report, street looking for 1 million nonbond bay roll big actio mike >> i should give credit where it is due, bloomberg flagged it on

my terminal, i managed to see the activity there we're looking at cme, 133 and quarter strike ten year, week two call options, not something we're typically talking about but if you make bets on call options on treasuries going higher you are betting rates go lower. we saw four times the open interest trading today 32,000 trade the average price of 14 cents, these are ten times larger than equity contracts, the multiplier is a thousand it's a big trade basically they're making a very short-term bet that treasuries could go higher and -- could be a risk off hedge type trade. >> interesting thank you mike khouw more "options action" tomorrow at 5:30 eaerstn. up next, final trades. i have an idea for a trade. oh yeah, you going to place it? not until i'm sure. why don't you call td ameritrade for a strategy gut check?

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♪ time for the final trade let's go around the horn, dan nathan. >> yeah i'm a seller of wells fargo. >> pete najarian. >> i'm riding the energy trade, marathon oil, mel.

>> jeff mills? >> i'm on energy too, eog is breaking out from recent consolidation, think it goes higher. >> special dividend too. guy adami. >> happy birthday, tim seymour, already c. >> yep thanks for watching fast 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 cramer. i'm trying to make you some m money. my job not just to entertain but to teach tweet me or call me and text me at jim cramer. remember when everybody was