dangerous industry get an expert to do it for you bitq, brand new crypto etf. >> guy adami. >> eli lilly, melissa. >> thank you for watching "fast money." 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. i promise to help you find it. "mad money" starts now >> hey, i'm cramer. welcome to "mad money." welcome to cray america. i don't want to make friends, i want to make you some money. call me at 1-800-743-cnbc or tweet me at jimcramer. did the cedc finally give us the

all clear sign today a signal those back today can go back to our normal lives it sure feels like it. if you've gotten the jab you can take off your mask or maybe shake hands or hug another human being. that's a cheap reason why the average is soaring 430 points and s&p 500 jumping and nad 72%. the guidance means you will get clobbered if you keep owning the lockdown stocks. instead, circle back to the great reopening plays. in the words of walensky, anyone fully vaccinated can participate in indoor and outdoor activities large or small without wearing a mask or physical distancing.

wait a second. you probably -- i don't blame you for being confused. this is the same person who broke down in tears six weeks ago and said, i'm going to loose the script, i'm going to reflect on the recurring feeling i have of impending doom. maybe your impending doom comment worked by scaring us into getting vaccinated or maybe this is an incredibly confusing moment. i'm going for the latter. in the early morning it looked like we would go one more day of everything turning over and led by no earnings and then started rallying to once again begin the steady afternoon slog down until her comments turned the market around for good. i know the cdc's comments are a big deal and worth celebrating. let's break this rally down and figure out what really happened. it has to as much to do with real word asset profits as the

currently. the bull market is all about keeping inflation king, tame enough so the economy can grow without overheating and force the forederal reserve board to slam on the breaks. it has everybody frightened. there are those of us who believe like fed chief jay powell that inflation can be tamed on its own if we just give it time. we've got a bunch of supply shortages and those tend to be self-correcting historically, production goes up, demand goes down, problem solved then there's another camp that thinks it's already too late. the inflation train, well, it has left the station. you need to circle the wagons around the inflation winners and dump nearly everything else. >> sell sell sell. >> the latter has been in charge for months now and you might not have noticed and surfaced big time in the last few weeks and

their cohorts stocks have been speculative and sober. first, they took out the high flyers with no sales and no earnings. then, they shot the ones with good sales but no earnings. then they obliterated those with great sales and only some earnings. by earlier this week they were selling everything, even the ones with great sales and great earnings, think fang, something sacrosanct until the last week. that cashed in money, money that they took, the source of funds i like to say, they took from those, according to a handful of companies that make a fortune of money when inflation is raging because they're the ones causing it. the last few days the market was made up of resources, sell it because everyday commodities went higher and higher. almost everybody is not a supplier. we have a confluence.

the major commodity got crushed and oil with the colonial pipeline company paid a $5 million ransom to their hackers who shut down their pipeline. small price to get business going again. it was shocking. every speculator hoarding oil suddenly had to give it up when oil ticked down and only plummeted two bucks. even though we have another hot inflation number this morning, this time the bruce price index, the combining crude startled commodity traders betting no ceiling on anything. lumber, maybe the most egregious of commodities finally have peak on a tear. it's a classic sign of a blow-up top. i will drill down on that later in the show. these days commodities grow

together and using etf that link everything together. the combination of two of the hottest commodities, oil and lumber has smashed leaving everything to trade down that had been trading up relentlessly. that's part of the story. the rest of it has to do with tamping down excessive speculation. you and i both know we've been in the grips of a respective mania, these high flyers and then especially cryptocurrencies. we will talk to coinbase later in the show. just like lumber let commodities down cryptogot crushed when elon musk announced they would not allow people to buy cars any more. going from the pied piper of crypto to nemesis. remember, i keep telling you the bond market is calling the tune

and nothing they like more than speculation. if you cut their heads off, even if it's just for a day, that allows bond yields to go back down, even when the cdc gives us the green light go back to normal, you would expect the rates just to soar. this insanely positive market is the result of all that. where all but the most respective stocks, equity equivalent of cryptocurrencies and stay at home plays worked. those two got killed. let's think about that. that's what got crushed. as long as commodities got fired and speculation raged it made jay powell look foolish because he said he doesn't need to raise interest rates because he says it's temporary. anyone who says we can have growth without inflation is going to send the state department higher, they all roared today. if you think that's way too pat.

let me tell you what else has been way too pat. for the last week all sorts of stocks have been mowed down because of doom everyday leading to a resurgence of short sellers selling stocks. and what if you get control, then you get more days like today. can it happen again? i say it all depends on four things. it depends on the dreaded four horsemen of the state department apocalypse. yes, oil, lumber, bitcoin and woodstocks, bled by kathy wood bottom line, if oil, bumler, bitcoin and woodstocks keep going down, the four horsemen, slay the bull, then you will get many more days like today. if not, this rally will turn out to be nothing more than a

temporary reprieve. let's go to kevin in illinois. kevin! >> cheers, jim. interested in umh united health, had a pretty good run. unh. it dipped to 23. i'm inclined to see the dip as a buying opportunity. what do you think? >> i totally agree with you. i can't believe it's coming down with another chance to go in i was so mad, it is such a good stock. you are precise on. that is exactly what you want to buy if days like today continue. you have horse sense. to clark in florida. >> caller: hey, jim, how you doing, booyah. >> booyah. >> caller: a couple months you created a sudo for the 5g companies you thought was the best ones. and insg was in there. obviously, the company has taken

a little bit of a nosedive. i was wondering, do we hold this, buy more at this level or get rid of it. >> i had them on and put their feet to the fire, saying, hey, guys, what's going on here. they pretty much assured me things were going to go well. guess what. that assurance was ill-advised. ill-advised. here we go. look at this. the state department's four respective forces, oil, lumber, bitcoin and woodstocks fall in tandem you can expect more of what we have these days. this is what we will have. can doordash continue in a post pandemic world talking to the ceo. then, how worried should we be about inflation. off the charts to find out. in an uncertain market, these could do the trick. stay with cramer

don't miss a second of "mad money." follow on jim cramer on twitter. #madtweets. send jim an e-mail to "mad money" at 1-800-743-cnbc or miss something, head to "mad money" cnbc.com.

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how worried should we be about inflation. yesterday, we freaked out when we saw that white hot cpi number. what if we're already at peak inflation and we know quality believes it will go higher. tonight, there is a possibility they may have experienced a blowoff the top.

carley garner is a brilliant technician and resident commodities expert. she thinks the inflation is flawed or reaction is overdone. why? aren't commodity prices already higher because of a red hot expansion and printing dollar stimulus. sure. but it tends to be swift but temporary. higher prices lures in more supply and sends the prices down. the cpi tells us about the past but not about the present, does it. the data is starting to reflect what we already knew. that's pretty important because a lot of us are freaked out by this stuff. you look at the hottest commodities out there, some already show signs of peaking. let's look at lumber prices as a

sign things have gotten out of control. garner reminds us lumber is traded and you often end up with locked trading dwrais the price change reaches the maximum allowed fluctuation for the session. we saw a lot of limit up for lumber and saw a lot of dramaticic shift for sentiment and down three days this week and at this point pulled back pretty substantially from its highs. garner thinks it's a bad gage of inflation. she believes the current prices are unsustainable in the long run. saw mills are bending over backward to meet demand at windfall prices and sooner or later we will get an oversupply, still over the peak of 1700 but still lower to 300.

there's so much speculation many trade together of commodities, sugar, copper, soy beans. if markets go higher together, does it mean they could all roll over together? let's go to copper i know everybody loves loves. this is the month we chart. pretty positive. so far copper prices haven't suffered the same as lumber but the rally is stalled out. garner believes that's the first step towards normalization, seeing similar stagnant action in grains and oil. if lumber is the leader garner is betting this is the beginning of the end of the inflation tree. let's go back to copper futures. the move had all time highs earlier this month. garner points out we've seen

this movie before. in 2008 and 2011 cop meper made explosive moves high, the relative strength index, ab important momentum i taught you that and leading to widespread selling. now to the daily chart of copper very different now. you can see it's trading in a channel with a nice uptrend, pretty beautiful, okay, but it just bounced off the ceiling. garner expects we will get a retreat to the lower end of the trading range, close to 420. that would still be high, down 10%. based on copper's total history she wouldn't be surprised if we get a total break down to $3.80 or 3.50 and put together she thinks there's something circular about the commodity rally, afraid of inflation but the buying is causing inflation. once it starts breaking down

that money could dry up and send everything lower. with lumber already tanked and copper stalled, garner thinks inflation could be sooner than you think and for all markets. she makes a compelling case. her thinking this proximate cause why so many stocks soared today because too many people who say, wait a second, maybe the whole complex is coming down. stick with cramer. coming up, when covid struck, they dashed to an adapt. after earnings, is this company nimble enough to pivot back to another new normal. order some food and stick around. doordash is next. next, masks off, the cdc says vaccinated people can go indoors and out, what it means for businesses and schools and work.

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delivery like doordash now that the world's going back to normal. over the past few month it plemt roughly 55% and these are not far from where it came public last december. they reported a pretty big quarter and giving us a better than expected forecast for the second quarter and raising its full year guidance. got ask yourself is this a turning point? let's think deeper with tony, the cofounder and ceo of doordash. welcome to "mad money" >> hey, jim. good to be with you again and congrats. >> we are doordash clients. >> thank you. >> i want to reveal that. the reason we are you offer several tiers. for small, medium, if you want to get started you know the world changed in the pandemic and you need to be able to have

food delivered. can you tell us what you're doing for restaurants because you know i feel there are levels fantastic for beginners and fantastic for companies that are bigger. >> absolutely. as you know, jim, we started doordash to help business owners to succeed, like yourself, like your wife, like the restaurant i grew up in, alongside my mother where i worked as a dishwasher. this is why i'm excited about all the actions we took during the pandemic, help to the average restaurant with door c dash had eight times more ability to stay open. i'm super excited to help restaurants get out into recovery as vaccination rates are up and soon we will be doing all of this in person again. we announced a couple weeks ago a new pricing plans, 15% plan, 25% plan and 30% plan.

the goal behind this new announcement is really to help businesses choose how much do they want to invest in growth and participate in programs like dash path, doordash covers the charge offer delivery? how much do they want to invest in profitability especially as they get out into recovery and want to see the growth from their own channel and website powered at no commission and no cost through doordash storefront and from pickup and not delivery from 16% to 6%. we're giving restaurants more choice from helping them succeed as we get out of covid-19. >> by doing this you are a total orders group, 219% year-over-year, that is rather extraordinary numbers. can that be sustained? >> the effects of the pandemic really were a lot more muted than we expected and we were

forecasting for the end of last year that's why some of the growth you saw in the quarter we had to make sure we had enough drivers on the road to actually sustain that growth. we saw growth really across the board driven firstly by record engagement from our consumers but also by our growth into new categories where now non-restaurant orders now total over 7% of our total orders growing 40% quarter on quarter and see continued strength as we made this progress. we've done all of this while running a very disciplined business with four consecutive quarters adjusted positive ebitda. >> i want people to understand this. we all live by same stores. that's what we do, whether talking about target or walmart or another. when you look at the same-store sales you get as a partner with doordash, they are rather

incredible in terms of the lift. >> absolutely. same-store sales are up triple digits for a lot of raents that joined during the pandemic something we want to continually invest in both during the doordash growth and through the restaurant's channel and why we built products like doordash storefront and dor dash drive our white label logistics storefront to use their own app and phone systems and that way we can give even more growth for that restaurant through the doordash app and own channel. >> is there room for uber and doordash and any other comers? are you concerned there's not enough moat, there's too much let's say ability to switch from being a dasher to working for uber and not enough loyalty? >> we're not seeing that. we're seeing a lot of loyalty and continued strength at all

time highs, all audiences whether consumer engagement, dasher engagement or merchants or doordash i think because we are always focused how to build a better experience or all these audiences, whether more selections, higher quality, better prices for consumers, more products for merchants as well as better pricing plans such as announced a couple of weeks ago and for dashers to give them more choice for different types of deliveries. by building a better product allowed us to fuel this growth. we take a step back, the industry is in its earliest beginning combining the u.s. and all its largest players, we're less than 10% of the industry sales. as that continues to grow so does doordash's growth. >> dashers paid $2.8.5 billion their increase by 40% and

consumers increased by 3%. how is that possible >> it'spossible by taking out all the waste in the system. we pride ourselves is how to become operationally excellent and efficient and take away any wasted time of a driver waiting for an order or making sure we give the most efficient route or making sure we can work with restaurants themselves to get the in store operations perfect and more efficient for delivery. it's all of those things put together really take waste therefore cost out of the system, and that's how we give both more pay to drivers, less fees to merchants and lower prices to consumers. >> after the last few days, i said, oh, my, what is tony going to report? how much is he going to lose he's in a dogfight for everybody else, the ebitda, there won't be any. this was a breakout quarter for you. what do you think people don't understand you are not someone

that says, i will lose money until i win. you told me from day one you will make money and everybody wins. that's been your philosophy from day one and this quarter did it. >> we believe you can grow and be operationally efficient and disciplined. four quarters in a row with positive adjusted ebitda growing triple revenues this past quarter we just announced results for. to me, it's always about how do you solve for the entire system, how do you actually make sure we can continuously build the best selection, the widest, greatest quality of service and take out every wasted component so we give the best prices for all our audiences. that discipline focus on excuse, it really is a testament to the team's work since day one. i think one of the things people historically forget about doordash we didn't always have a

lot of capital. >> no. >> the first 5, 6 years of the company's 8 years history we had a tiny percentage of the operating budgets of our peers and we still grew market shares because most of our growth has always come from our existing customer base. by having a better product allowed us to achieve greater retention across our cohorts means we don't have to invest as much in marketing or discount or subsidize our orders and can grow profitably. >> tonemy -- tony xu, congratulations. >> thanks, jim. >> once again, i am a doordash client. i want to let you know where i am coming from. i don't get anything from doordash but you need to know that and i thought it was a great quarter. coming up. can you hear it? the smooth reburbs of a company

wired to smarten up your home sound. crank up the speakers, cramer's got sonos next.

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for weeks, every time a stay at home player reported a good quarter the stock would go even lower. today that changed wen sonos jumped 7%. those with stock at home decided they might as well get a good sound system to make the experience more pleasant including yours truly. the stock has plummeted from its highs from mid-april to 31

yesterday. 90% revenue growth and a surprise profit investors were able to get excited again. didn't hurt that management raised their four year forecast and told a story about new products and told about roam, their portable speaker. can this stock keep climbing let's talk to patrick spence, the ceo of sonos, welcome to "mad money." >> thanks, jim. great to be here. >> thank you, patrick. i have this theory which is a lot of this stay at home, closing america companies, when they reported they said things look unclear or they said they're worried or they can't be sure, they're not confident. you on the other hand, were confident and because of three secular trends going your way. it had nothing to do with the pandemic. lay it out for us! >> the first is the golden age of audio. we are in it, right? you see this with all the great

streaming music out there now how well spotify is doing and everything we're seeing in podcasting and the rise of social audio clubhouse, twitter spaces. the second is really what we've seen with all of this great video content going directly into consumers' homes and we expect that to continue more movies released right into the home and more people enjoying it in the home and the third what we call great reshuffling more people have new flexibility and freedom to work anywhere. they're moving, setting up a new home. that's perfect for sonos. all of those trends are really powering our growth. >> do we still think people will be moving in new homes or just fleeing the city and don't need to any more? >> no. this looks like a multi-year trend, jim. people are trying to figure out what they want to do, companies becoming clearer with guidance, where can you work and what kind of flexibility will you have

we expect it to be a multi-year trend and people migrate over different areas of the country i think will be great for everybody. >> i want to talk about a new product frankly hard to believe seems to be sold out already, i thought we would have it on the set. tell me why roam is popular. i have some alexa in my home and say to my kids, go play it. >> the roam is the perfect speaker for the reopening because now we're taking our first steps outside the home. that great sonos experience everybody loves you can take with you and even do it in a super simple way with this great technology we invented called sound swap and be playing and bring your roam up close and magically transfer over to the roam and we think it's the perfect product over time. >> i have decent speakers in my car. should i get better ones >> you should get the audi qtron

with the sonos system in it. we're taking it through our partnership with audi, we're very excited about this and a massive opportunity long term. we're just getting into it. it show this is so much opportunity in the world of audio, even with our increased guidance we're only talking about tapping into about 9% of the premium audio market this year, about an $18 billion market. as we start to get to auto, other areas of auto, $18 billion market. and just scratched the surface. >> do you think it's a possibility direct to consumer movies will revert to theater once we're all vaccinated and that trend could be not in its infancy but stillborn? >> i think we all want to enjoy some communal experiences we had before. movie theaters will open back up. i will go to them often like i

did before but maybe not as often. i think the genie is out of the bottle with the movies and going directly to the home. we love this, have a family and watch the movie at home. you can really enjoy it with sonos and great tvs out now in a theater like experience. i think that's here to stay for the long term. >> one of the things i was worried about, oh, my, he's going to report a great product and i have it in two different places, fortunate enough to have it in two different places but all the electronics are bemoaning it. you have a team able to source the stuff so your gross margins are actually better? >> our gross margins are better and able to get more supplies than expected and why we blew up the quarter. our design team has been at this 16 years. everybody in the industry is facing shortages but you're seeing some companies manage them webetter than others and i

would put up our record better than anybody else and we still raised guidance and feel pretty good about where we sit right now. >> one more question, do i have to worry about this google litigation, three years now, people get scared and say it's dropped because of that. >> the itc pushed out the date for preliminary ruling. we sued google for infringing our intellectual property and we feel very confident with that. in fact, there's no worry. the thing to watch is the ruling there to show sonos is the inventor of the smart speaker space and google will be hopefully through the itc, held infringing our intellectual property and we will have an injunction against their products. >> either nothing happens or you do well. that's what i like. you ticked off every box, patrick spencer, ceo of sonos.

thanks for coming on "mad money." >> thanks. >> if you have the product, you're a believer, first of all. second, this is a product that people believe is a stay at home company. i hope you heard what i heard, far more than that. coming up next. cramer is bringing the thunder and answering your burning questions in today's edition of the "lightening round."

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recommending chevron with that terrific yield and recommending pioneer net, pxc and you can get out of sun corp and get a nice price, do it >> to david in colorado. >> booyah, jim. i bought gus's stock in january. it seems to be breaking out. should i buy, sell or hold jazz pharmaceuticals? >> i've been following this company, a very respective company that actually makes money. i think you're in good hands. why hasn't this company been bought by somebody like it! i like it. to lee in new york, lee. >> a big new york booyah to you, jim. >> what's going on >> caller: how are you i'm calling about a merger i got a couple months ago in the technology sector. i bought in at 17 a few months ago. it just closed today above $7.

i wonder if i should get in. the company is aeva technology. >> that's a play and charging station, too many players. i say ix-nay, lidor. i don't like it to jordan. >> caller: hey, jim, thanks for taking my call. >> you bettia. >> reporter: i'm super optimistic of the long term prospects of the renewable energy space and want to get your opinion about brookfield renewable partners. >> because you said it like that i'm okay. i don't want to plate that way but i respect you. play it that way. that's the conclusion of the "lightning round"! >> the "lightning round" is sponsored by td ameritrade.

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coming up, masks off. the cdc says vaccinated people can go mask-free indoors and out. what it means to return to work. indoors and out. this is exciting, people. i know i like boring. i have to go here. we need to talk about coinbase global. via direct listing it went public last month and landed with a thud. it started to recover a week ago and then the tech problem and the darn thing rolled over again. stocks started trading off the turbo charge and doesn't have the bitcoin peak the same week coinbase came public. the biggest cryptocurrency down

20% since then and since there's no lock-up the stock has been under a great deal of pressure. could be artificial. in the first quarter results and while the headlines aren't a surprise, there is positive commentary about the second quarter and even better, coinbase reads its second quarter forecast significantly. is this what we need to turn them around. let's go to them. welcome to "mad money." >> good to be here. >> when people try to -- especially young people want to speculate on crypto. i say, have you thought about coinbase. the reason i say that you are really the repository of ever i single crypto and at the same time you're profitable and have a pretty good handle on what's safe and not, correct. >> we sure try to. >> can you tell me, then, which are the cryptos people are using

and also, give me a sense not just in coinbase, in the whole industry is this something that's become a young person's speculation or is everybody involved >> i will answer the back half of that question first. you'd be surprised how broadly appealing crypto is. we have all on our platform, young, old, experienced crypto investors now in the asset class since the early 2013 time period and we have brand new users just getting their a first taste of crypto on our platform today. all demographics it is universally appealing. bitcoin is the first one they're interested in, the largest most broadly known. increasingly users are interested in the long tail of crypto and you can see that in this numbers today that the assets are seeing increasing volume in trading, assets on our platform. we think over time more and more

users are getting engaged in crypto assets, what we're excited to see. >> there are many companies that do what you do. you are the most established. i would imagine if i were you you would like more regulation because i think you would stand up under a lot of scrutiny. would you like more regulation in your business >> we have been under regulation since we were founded. our founders, brian and fred, early on believed we needed regulation in crypto. yes, we like partnering with regulators and want there to be a level playing field and think it's a blessing and not a burden. >> do you think we will have a full service credit card embassy and check card coinbase? absolutely. we hope to be the financial account in the crypto economy and engage our users in the transaction type and some you mentioned in the typical system,

loans, positive accounts. i think crypto will enable new transactions we can't even envision today. >> some think the crypto winter is over and we're advancing. some think today was the beginning of the end of crypto because elon musk decided he would not accept crypto coin for tesla. is one antidotal or empirical. is musk antidote tall or is it empirically obvious to you these crypto advances are here to stay >> i think it is here to stay and it is volatile when we react to a tweet. we have shared this is a long term investment and believer with just getting started with investment of crypto and could be a bumpy journey as we have seen in the past. >> maybe in and out. i know from the app i get like what 6% on my cash in coinbase >> uh-huh. >> how is that possible when it

get 2.5% at my bank? >> it's not yet an efficient market we see in the transditiol fiat system. but there are attractive rewards to be earned today. >> when we talk about this coin, isn't there a difference between some cryptos that are serious and others that just may be comical? >> you go to the decision of our users. we are a platform that want to offer all assets that have listing standards and hope to be the place you want to trade anything you want to play. that is not the case today and we need to add more assets to improve the speed of our asset addition. clearly the market is speaking >> i see mastercard and visa periodically want to be in. i know the very forward-looking companies like paypal and like square, they're in. are these legitimate competition of what coinbase does?

>> absolutely. and we welcome them. three years ago when we were the only crypto company we were a little lonely out there and now seeing most tech embracing crypto it says crypto has arrived, becoming mainstream and here to stay, yet it is evolvin as you just said, there's new technology and new nfts and c-fi and being able to integrate with the protocols and build on the crypto frontier really differentiates us with the other crypto players and continuing to attract user platforms like we demonstrated. >> i was in a cnbc town hall today. i would say probably, if we looked at the questions. i'm a stock guy, you know that. i would say half the questions are about crypto and many from young people. i have to ask you because i know your background, if you're just starting out, how would you learn about this in a legitimate

objective way so people can do this safely. you yourself said it's risky. >> come to our platform. we have lots of educational resources we can educate you on. you can read our blog, we have references to other folks that write about crypto and other coincidence and risks and security and what the opportunity is. there is so much to learn out here and we welcome folks to jump into the crypto economy with us. >> do you think major banks will say why would you ever go there? they have no fdic protection >> we don't have fdic protection on securities either or bonds or investment assets. yes, these are not deposits fdic insured, however, i believe these make great investment opportunities to allow people to hold for long periods of time and well educated about the investment risks, and we encourage people to be educated before they make an investment decision. >> you are a great spokesperson for the uggs institution. i want people to understand if

they want to be in this maybe a pick and shovel player, coinbase than the actuals that have a lot more risk. i want to thank you so much for coming on. she's the cfo of coinbase. quite exciting. there's always a bull market somewhere and i promise you i will find it here on "mad money." i'm jim cramer. see you tomorrow. the news with shepard smith starts now guidelines tonight the sweeping changes and the exceptions. >> there are people out there who you think can be persuaded. >> free money, free beer, free tuition. the creative incentives to get americans vaccinated will