is about how much leverage do you have for a big economic revival. >> a lot of people are looking at the liquidity picture glad tony brought it up because yes the federal reserve is all in but you wonder what will happen when tide continues to come in. >> dow . >> that does it for "closing bell", "fast money" starts now. >> live from the nasdaq floor this is "fast money" tonight's trader lineup guy adami, dan nathan, karen finerman, and tim seymour. a penny price target on amc, rich greenfield is with us, why he's sticking by his call that amc is headed to a penny a share. plus all over after-hours actions of lulu lemon and crowdstrike and docusign we'll dive into all three stocks and tesla shares skidding today.

we start with wall street summer blockbuster, amc offering twists and turns of a thriller, shares plunging today after planning to sell 11 million shares and major plot twist they pulled it off, amc completing the stock sell, shares down just 18% today. and in regulatory filing under the circumstances we caution investing in our common stock unless you're prepared to incur the riske or all or substantial portion of your investment what should we make of all of this, guy? >> first of all, it's great to be back. people don't realize how difficult this show is to host when we're all together. you've been able to do this now for 14 months guys us all in different positions, it's remarkable what you have done and the entire staff, guys and gals here at the nasdaq. i want to say that because it's important. what do i make of it, you go swimming in california or

australia with signs you can swing but there's great white sharks in the water, so you understand, that's what the ceo is telling you, there is a chance this goes to zero if you're in it for the fun and just have a few dollars to mess with, that's fine. but understand that the ceo of the company said the fundamentals don't line up with the stock price, that tells you all you need to know in my opinion. >> karen finerman, you've been passionate about this amc story. adam aron has navigated this reddit frenzy like a pro, like he's been through it before. what do you make of this >> he's handled this brilliantly, absolutely perfection, he tishd bonds in december the highest security you can have, 15% interest 15 that's crazy he was doing anything to just save the ship and then the miracle happens and wall street bets, they're all excited and

the story gets a life and he's able to sell some stock. remember that was at like 9 or 10 and on conference calls he said they own a majority of my stock, i work for them and the stock rises again, he raises more money, and reddit apes love diane and the gorillas, he has the company donate $50,000 to that and $50,000 of his own money, absolutely genius stock goes up again. he sells more. he offers popcorn and discounts to shareholders. brilliant. they love him. and then today he files this be afraid. you're my guys and girls you've helped me, i don't want you to get hurt brilliant, again i mean, kudos to adam aron, he did everything possible to save the ship and i don't know if he gets it or not but at this rate he'll save the ship by, you know, the middle of june it's extraordinary good for him i don't know how he did it but it's just masterful. >> i mean, from a company that was thrown into the abyss of

bankruptcy not knowing if it could survive the pandemic to where it is now, it's night and day, even if the fundamentals or industry may not be pointed in the right direction for him, it's a dramatic change. >> what karen is speaking to is how he's operated over the last six months with things that are out of his control and he's done it right there was a lot of criticism with what gamestop did or didn't do in the same situation important to go back to 2018 and remember this company did $5.5 billion in revenues. they did about $5.5 billion in revenues in 2019 in 2019, they lost $112 million of net income. they were already losing money on $5.5 billion in revenue really the business is not coming back. you think the reddit people are buying the stock and u the product? no they stream they steal whatever the heck they do for movies i guess at the end of the day it's fantastic they raised $1 billion they still have $11

billion in department and they don't again -- debt and they don't generate cash and they're going to be in a difficult situation and like the gamestop thing it is likely to come in in a great deal in the future. >> maybe we all don't understand this new way of quote/unquote valuing companies on wall street tim, i will go to you, i know you'll laugh all over this but the ceo of imax was on earlier and said far be it for me to try to understand the new ways, i obviously am missing something going on here, but money is being made the toing is going higher. what do you think? are we entering a new era. i understand fundamentals are fundamentals and valuations are valuations but are we missing something? >> again the analyst community down graded imax too you have a dynamic here, look, capital market dynamics are very powerful and let's also be clear institutional investors are very much voluntaried

mudry capital made $75 million on a major, major stock flip you've seen it from all sides. capital markets dynamics to the extent a balance sheet can be improved, whether it could be cleaned up is a different story. we applauded at $9 at a share raise, why not yesterday into today. you have a case here, yes, it's all good news for the company but hard for me to argue with what's been said interest expense simple significant for these guys still significant for these guys what kind of cap x what is the story tomorrow being optimistic buying a theater or two and taking a leadership position in small eraddressable market even with theaters and things i'm sure disney will do but no, we are not missing the fundamentals. >> i agree, to dan's point, the business model was broken. this maxed out 38.5, $39 in

december 2016, stock made an all-time high and spent the next five years going lower long before the world ever heard of covid. so i understand what has happened in the last year and half but nothing's fundamentally changed for the business to suggest the stock can continue this rise in the wake of a failing business model is interesting in a word, foolish on another word. >> kids on twitter will say you're unhappy because you're not making money we've been talking about it for months, over the last 6 to 9 months, every pocket of rational exuberanterance in the market has come apart, it's crashed there's high valuation tech ipo down 30 to 40% meme stocks have come in spacs have come in and crypto down 30 to 40% from recent highs. no reason to believe this shouldn't be the exact same thing in a stock like this when you talk about who is making money, kudos to mudrick whoever they're called and there

are institutions, and this is the same thing we learned in january and february when the gamestop thing came undone. >> should we look at the retail trader as a new class of investor who might have the diamond hands, the stomach to hold on to this. are we under estimating them in terms of the willingness to be in a stock no matter what, they're florida a stock despite th they're already if a stock they're already in a stock despite the fundamentals and debt on the balance sheet. maybe they're stronger hands than institutions. >> maybe i think a couple things going on i think for -- going back to gamestop, when that happened, i think there were kamakaze shareholders that recognized gamestop was trading at crazy valuations but they had the joy of really putting it to big hedge funds and seeing them in pain and it was worth it if they were going to lose money so there's that element.

there's that guess, maybe an altruistic amc element here. i just can't believe that ultimately the gravity of fundamentals and free cash flow, i can't believe that that doesn't ultimately come into play and you know, aaron's telling you that. >> right back in march guests came on this show after slapping a penny price on amc share saying there would be no way it could pay down the debt. since have raid $1.2 billion in equity and added $30 billion in market cap let's bring in rich great to have you with us i know u. have a model you're going to stick with your model same time, has anything changed? has amc at least given itself a small lifeline to sort of navigate the very, very rough waters of this reopening >> well, let's just step back and i want to address something that you and the "fast money" team were just talking about, you know, in terms of diamond

hands. just to set the floor in facts, in the last five trading days it traded 3.2 billion shares. there's only 5 12 million shares of amc outstanding after today's 11 million share sells so the idea this is just people holding the stock and they're never going to sell, just explain, like, how is trading 3.2 billion shares the amount of volume, it's the most traded stock in the entire world over the corsi of the last month. this is trading like liquid. there's no short squeeze a short squeeze is when you can't get out, the short interest is so high relative to what it's trading, anyone can be out of their short position in four minutes there's no liquidity issue, this thing trades like water. there's a misconception, what's really going on is just retail, buying from other people in retail and what was just being discussed, like, someone's making a lot of money and a lot of people will be left holding

the bag because at the end of the day the fundamentals here just don't support the valuation. i mean, cinemar, same industry, they don't own their theaters, they have the same movies coming out, same ebitda in 2019 as amc, it's a $5 billion enterprise value, amc at $30 billion. exact same companies one has stronger balance than amc so this is factually bonkers. when you look at the rel initiative positioning of these two companies in the same exact industry >> so, is there anyway, rich, in your mind to explain this? i mean -- >> sure! you can definitely explain this, absolutely i mean, when you have sort of a lot of investors buying dramatically out of the money call options and creating this effective gamma squeeze

i mean, and you have a lot of funds playing momentum as well you can see how the spikes happen look at the swings that happened today. again, cutting through it all, though, ultimately, can this company actually de-lever. the only way to answer your question, melissa, how this company can save itself from goes out of business it still has to issue 1 to 2 million more shares it's losing money every day. it didn't make money as you pointed out in 2019. this company needs to raise a lot more capital you saw what happened when it raised 11 million shares today it brobly needs to raise 150 million more at this stock price, let alone where the price should be where it needs to issue hundreds of millions more shares but they don't have the authorization to do that so they need retail shareholders to vote in favor of the company massively diluting them in the coming year. will be have interesting whether

adam aron can convince them to be diluted because without d delusion they are a rock in a hard place because if not kpd they will start tripping conference. -- conference conference >> rich, it's guy, you've been coming on the show for years, and -- my question to you is, what have you learned since the date mel mentioned, the march date, have you learned anything in terms of the way you present things, anything about the business, because it's fundamentally changed in the last four to five months in the terms of your community >> look, from an industry standpoint it's interesting, you had immanue l on cnbc earlier reporting their first quarter as endeavor as a company and ari last night on the earnings call

it was clear that the film industry is changing and we're finding a new way in which movies are released. you won't see the same type of theatrical windows w moffatys the film industry is fundamentally changing. that dynamic is completely lost on the retail buyer of they're not buying it because they look at the financials. they are not buying it because they understand the future of the company. they were excited about the industry there's many other stocks, that's not happening, they're simply buying it because someone on a reddit message board told them to buy it so it's this, follow the herd i don't know what ends it. pre-open this morning was trading at $75 a share i have no idea what changes the course of this stock all i know is from an earnings stand be point, this company will struggle to ever get back to 2019 given the changes in the

film industry. it's way behind on its rent payment, and capital improvement so cap x has to go up, it's got higher rent expense, higher cap x and it probably never earns the ebitda it earned in 2019 that's a really tough place to be when you are still sitting on billions of dollars of debt. i hope adam is smart enough to somehow convince shareholders to absorb massive dilution from here >> rich, we're going to leave it there, always good to have you >> thanks for having me. >> light share partners. karen finerman adam has earned the name simple verhoeven -- silver back do you think he will have the power to convince people that dilution will be in the best interest in the end if it saves the company. >> he has so far if you had said two months ago, listen, you're going to be able

to issue $600 million worth of stock at i don't know $53 was the average price,ish, maybe, that would have seem highly unlikely yet, here we are he's like guys, i need your help, it's really risky, but i need your help who knows? this is insanity but good for him for and a half gatding. i -- navigating it i don't get it as a long shareholder i don't get it >> i don't think we could find a single investor, irl, you know how you play the game, who would do this raise your hand, that sort of thing. >> it's an internet thing. >> can you find a single person irl who would buy it right here as an investment, thinking about long-term, after everything we just discussed in a very sober manner there's no fundamental reason for it we have stock market mania, people doing things against their best interest. >> can i ask a question. >> sure it's your show. >> i know. that question was rhetorical

on wall street aren't there traders out there on various desks that simply trade momentum with no fundamental reason to trade higher or lower yet they trade momentum yet why criticize these investors for trading momentum. >> -- what we're zrie being is this is a diamond hand situation, stick it to whoever. it's a game. they're playing on their iphone. again, if that's what you're in it for, have at it, but understand the stock will likely be much, much lower from here, probably 50% a month from now. >> i missed it live with have at it. >> it's different when it's live. >> i don't think i'm criticizing this crowd at all, i said a number of times during gamestop these folks, guys and gals, some

of them are brilliant and understand the things that get paid to understand don't it's fascinating to me gamma and all of the action you've seen, all the metrics used with options. they understand it intuitively i think it's fantastic we point it out because we have an obligation to point out things that don't make sense and it doesn't make sense. by the way, i'm surprised there's not a mel gibson "braveheart" character using it to their advantage. >> we don't know. >> we don't. and there's no question the same way -- whatever they were 10 to 20 years ago are using these folks on the reddit boards to their advantage as well. >> yeah, let's bring in mike khouw on another day of pretty wild option activity in amc what do you see is this. >> yeah we saw a lot, the most active single stock option for the second day, traded more than 4 million contracts.

it's just a world of superlatives and comments about whether these are momentum or options, i mean, options expire they're not a buy and hold type vehicle to speculate on change in stock price of amc. top ten options in amc all expire tomorrow. so people who are trade thoese aren't looking into the weekend, as far as amc is concerned the most active options, expiring tomorrow, 145 strike calls about 173,000 traded were at $1.17 implied volatility in excess of 1,000% which actually starts to make options seem very hard to price, to be honest. so what's going on a lot of people are using options to speculate on very short-term volatility and there's market

participants, i know a couple professionals who are just trading the momentum there's not a fundamental case to be made here, doesn't mean there isn't a trading case, and that's what people are doing but it's very deepen of the pool stuff people are doing. >> wise words, mike khouw see you tomorrow for the full show, "options action" 5:30 eastern time let's get to docusign, moving after-hours on earnings let's get to deidre bosa with details debo. >> like many are wondering will docusign sustain momentum to be core product 50% revenue growth in the past quarter and strong guidance in q2 for the full fiscal year is making the case, that's why shares are up and like dan springer making the case on the earnings call right now that docusign is a platform that can go beyond and service the entire deal process, that

means enhancement in the e-signature product as well as other catalogs like contract lifecycle management springer also saying he doesn't see the strong first quarter as pull forward but rather simply increased demand in quote a very large ocean, says they're still in the early stages of even the e-signature business meantime docusign is facing increasing competition from adobe with growing ing sells, se up 6% in 9 after-hours but year-to-date are still under water, and of course they were one of the best performers last year, tripling share price back to you. >> deidre bosa thank you guy adami, this is one you were watching. >> yeah, last night we talked about it i thought the sell off was such that it gave an opportunity in the market today obviously sold off into earnings and now you're seeing the pop now. dan will make fun of me again, operations margins north of 20%,

hair over 20%. and oh, by the way, they guided for the full year. if you look it's a pretty healthy guide. i think the sell off is such you can buy for trade. dan's going to say valuation doesn't make sense, he's correct but you have growth behind it both eps and revenue i like the name. >> all right coming up, all green lights for ford and gm, we'll tell you what sent the stocks soaring. plus more after-hours action on shares of lulu on the move, we're stretching into that trade when "fast money" returns. ♪♪ ♪♪ ♪♪

ready to shine from the inside out? try nature's bounty hair, skin and nails gummies. the number one brand to support beautiful hair, glowing skin, and healthy nails. and introducing jelly beans announcer: xfinity wants to send you with two times more biotin.

to universal orlando resorts' three incredible theme parks. where you could feel the rush of the hunt on jurassic world velocicoaster, opening june 10th! plus, you'll stay steps away from the action at universal's cabana bay beach resort. to enter just say "universal parks" into your xfinity voice remote, or go to xfinityadventures.com for your chance to win!

welcome back to "fast money. we've got an earnings alert on lulu lemon shares on the move after the company reported earnings, let's get to sarah who has the details just spoke with the ceo >> hi, melissa, good to see you. lulu's business still going strong, despite reopening, back to work, jeans, add dresses, comfy leisure still in, sales rising 88% in the quarter and the company raising forecast for full year sells. foot traffic and e-commerce

continuing to rise, 55% for the quarter. the company expecting 55 to 65% growth in the at-home fitness work product and says it is adding it to the 90 stores this month and 200 by the end of the year. despite questions about subscriber and growth and gyms reopen and people working out together again ceo calvin mcdonald addressing some of those concerns. >> at-home fitness was a trend before the pandemic, it obviously accelerated during the pandemic and we believe it will continue to remain an important part post-pandemic we're investing to create a very meaningful business. we see mirror being able to have a solid, stand-alone pnl, it strengthens our community relationship with our guests >> lulu stock a bit higher here

after-hours but has lagged this year down more than 8% plus. last year over the last 12% down 2% after a multi-year run. investors were concerned it was a pandemic play because it did so well over the last year but so far lulu is proving it has good exposure to store reopening as well. mcdonald was especially optimistic about his stores reopening. also he made the point, melissa, that unlike any other retailer we are seeing now post huge comp sales this quarter mcdonald said his two year compound annual growth rate, is 25%, he claims higher then the rest of his peers, the stock is only up half percent as the whole growth trade gets a rethink. >> thank you, thank you from the n yrks sc. tim seymour, i'm going to you, on lulu, the move half percent after-hours is good that the stock isn't selling off or surprising that the stock isn't moving higher, based on what

seemed like a good report. >> i think the stock, first of all, sold 20% or so off these numbers, twice has gotten to 380, 390, to put in the pressure, and then you have a multiple that's the pressure point here look, the valuation, very rich gwyneth, if you want gwyneth, if you want again, if you want to see if they settle into post-covid profile dt 50% i think they will the innovation and the pricing power, you heard them talk about the gross margin improvement, couple hundred basis points, despite freight cost and dynamics around the port embargo and tie ups there. so look, i think you got a case whereas an investor you have to decide where you are willing to hold your nose on the multiple you're doing the same with nike and a lot of comparisons with a much shorter track record for lulu not surprised to see the stock holding in, if anything it's tested the bottomennd of the

range and i think it will move higher. >> it's fascinating to me. that mirror product is perfect for tim seymour for a myriad of reasons, tim's not here to fight back and that's not cool of me, you know what i'm saying, tip, i do miss you, tim inventories were up 17% year-over-year and sales up 6% and operating marjanovic ins margin this year wil -- >> this is a disaster, the fact it's only down half percent given the guidance on the quarter this is one of the worst charts on the stock market down 20% fromthe all-time highs in september. it breaks here, if it can't hold here it's going back to the february march low near 270 which was also the break out level from last may. listen, good news, bad price action, guy adami? >> i don't see it as bad price action but i love the fact we're together and dan's getting in my

grill. salty dan, fantastic. >> karen, what did you make of this quarter >> i thought it was an excellent quarter. i thought the guidance was good. the mirror acquisition i think they paid $500 million i think will end up being a home run, that's great the problem tim brought up, it's double the market multiple double and it's priced for perfection they've delivered perfection that makes it fairly valued. i don't own it any more. it's a really great company but if a little bit of the post-pandemic slows things down a little bit or even the perception is more pronounced that, okay, they were a pandemic stock, then i think there's down side. >> all right we've got a lot more ahead here on "fast money", here's what's coming up next. >> no red light for ford and gm, these stocks putting the pedal to the metal you better buckle up for this next trade plus, a tweet with some heat twitter announcing a new

subscription service, so is this stock ready to take flight we've got that and aot m lore when "fast money" returns. hey, dad! hey, son! no dad, it's a video call. you got to move the phone in front of you like..like it's a mirror, dad. you know? alright, okay. how's that? is that how you hold a mirror? [ding] power e*trade gives you an award-winning mobile app with powerful, easy-to-use tools and interactive charts to give you an edge, 24/7 support when you need it the most and $0 commissions for online u.s. listed stocks. don't get mad. get e*trade and start trading today.

t-mobile is the leader in 5g. experience it now with the powerful iphone 12 pro with 5g on us. and with our new magenta max plan, you'll get unlimited premium data that can't slow down based on how much smartphone data you use. plus, taxes and fees are included. that's right, unlimited premium data and the iphone 12 pro on us. only at t-mobile. the leader in 5g. i'm dad's greatest sandcastle - and greatest memory! but even i'm not as memorable as eating turkey hill chocolate peanut butter cup ice cream with real cocoa.

well, that's the way the sandcastle crumbles. you can't beat turkey hill memories. . welcome back to "fast money", shares of tesla heading lower, let's get the details, hey, phil. >> you're looking at tesla under pressure on report it's suffering weak sales in china. this could from the information. we have not corroborated the information. this is what it comes down to, in china according to the publication "the information" tesla may sells cut in half from 18,000 to $9800 and mention

declining week over week orders that were not improving, what's behind it, could be number of reports out of china customer complaints hurting demand and tesla beaten up over the last month or two tesla over volkswagen. china is the largest auto market and will be the largest ev market in the foreseeable future as that government continues to push incentives there. so melissa, if this is true, if tesla suffered declining sales in may after weak sales in april, it raises the question, is this a pattern? if it is, it's not a good one, especially in a country where the ev demand and ev market is growing >> so you think it is a tesla problem opposed to a china problem? i ask you since gm and ford are ramping up ev efforts is a window for them to gain share in the china market

>> they certainly believe it is. not just gm and ford but all automakers believe that, for a long time people said once that opens in shanghai, will open in china these reports have to give shares to investors looking saying maybe it's not an auto automatic loss in china when it comes to ev while ev is growing quickly it is still a developing -- market. there's room for all of the automakers to make moves and gain share there speaking of legacy auto makesers, look at all of them, gm, ford, stalantsi the parent of chrysler, toyota, honda, bmw, all at 52-week highs, substantially moving higher in the last three months. >> wow phil, thank you. excellent use of that word

stallantis. >> tim seymour is will room in this valuation withgm. >> i think there's plenty of room in this valuation when you talk about ford and gm as competitors and tesla the automaker this is an ev story. look ev busines g m business and partnership in china makes them the biggest player we said this many times on this show, i'm longgm, long ford, bigger gm and have more conviction because of the quality of the operations in addition to the multiple we closed at an all-time high after consolidating around the 61, to $63 level i think you're just getting going as we are starting to pay more attention to the ev profile. ford's focus on ev is good for gm gm is focused on autonomous and hydrogen fuel cell and their core business has never been

more profitable >> karen, do you think the china market being real viable, i say that hesitantly because obviously gm is in that market in a very strong way already, but in terms of ev market, do you think that's in the valuation? will we have this addition to the valuation of gm to the market cap of gm, is part of that china ev or is that only u.s. ev? >> i think part of it is china ev i don't think it's a substantial part of it today they said we're going to beat our numbers meaningfully, i don't know what that means, i think the streetd is looking for 225 this quarter, 11-times multiple of where it's trading that's a 30 cent beat. i think the focus of the beat is u.s.-focused though. so that's -- that's the bulk of the value. and so, i also think management at gm has done a masterful job as well. you know, they've navigated the

semidconductor shortage better than others, that's helping them here, so the china story is great but it's not the bulk of the value. >> i have to apologize i said in the last block that lulu was the worst looking chart it's not, it's tesla carter worth put it out this afternoon, it is below from march 2020 lows. it's in a massive down trend. if you get through that february low down there at 540 guy you were highing that i think there's a b-line back to the $400 level i'm just telling you, man, usually you're looking over my shoulder and have to do different things in this set up here, that's a bad looking chart. >> it's awful. i said when they reported earnings at 720 that this time tomorrow would be 750 and here we are 200 lower and in terms of the math problem --

ford $17 stock by the way they have that target. >> coming up crowdstrike on the move after reporting earnings, we'll dig into that trade and also amc headlines, ayunst ted "fast money" back after this

♪ welcome back to "fast money", we've got some breaking news on amc, the company filing a proxy request to issue 25 million new shares in 2022 the stock is down five percent in after-hours sessions and hasn't moved much on the back of this particular headline karen finerman, what do you make of this? we were just talking about how much more they'd have to issue in order to make a dent in their debt >> right i don't get the 2022 part. i would think they'd want to have shares at the ready as quickly as they can. maybe that is as quickly as they can. i don't know so that part is sort of surprising to me i would think they'll file as big a shelf as possible, bigger than 25 million. i'm a little surprised >> i'm glad she said at the ready. for you "top gun" fans, remember

when maverick was on ready five and didn't get it pulled up in time and guy said it will take a few minutes and head admiral said it's going to be over in two. 2022, we're dinosaurs in 2022, i don't understand the point of the 2022 thing it should be 2022 like time tomorrow, 8:22 in the morning or something. >> i think they can put the shelf out there whether they have access to sell the shares, which is what greenfield was talking about, they'd need shareholder approval anyone can put the shelf out there, but you can't sell the shares. >> oh, i see what you're saying, there's no dilution. >> it's just the shelf's out there and when they get the proxy approval can hit some bids. >> so not much movement on the after-hours on the back of this. tim, your thoughts >> never leave your wing man, mel, that's the operative message from maverick.

no, look, i think the case here is you really have to take it day by day with this company balance share is one thing we all talked about, look, rich laid out the share count and ultimately what you would have to do to change the fundamental balance sheet dynamic, op x, cap x and the story so nothing's changed hear. >> all right coming up, we're all over the after-hours action, crowdstrike on the move after reporting earnings, that trade next. and cnbc celebrated pride month all through june, here's cnbc's shepard. smith >> i think to celebrate, you have to first be thankthankful, thankful for those people who came out when it was potentially injurious and could be hazardous to their health and they did it for years and years so all of us can live authentically

ng pson o thful for everyone sileerwhdid at ♪ s forward. we believe the future of energy is lower carbon. single person who did that to ge, the world needs to reduce global emissions. at chevron, we're taking action. tying our executives' pay to lowering the carbon emissions intensity of our operations. it's tempting to see how far we've come. but it's only human... to know how far we have to go. pain? yeah. here. aspercreme with max-strength* lidocaine. works fast and lasts. keep it. you're gonna need it. kick pain in the aspercreme

[typing sounds] [music fades in] [voice of female] my husband ben and i opened ben's chili bowl the very same year that we were married. that's 1958. [voice of male] the chili bowl really has never closed in our history. when the pandemic hit, we had to pivot. and it's been really helpful to keep people updated on google. we wouldn't be here without our wonderful customers. we're really thankful for all of them. [female voices soulfully singing “come on in”]

♪ welcome back to "fast money", we've got another earnings alert, this time on

crowdstrike, sima has the details. >> melissa, just yesterday you were talking about how cyber security stocks haven't done a lot this year, well, shares of crowdstrike did turn positive but now flat on the hour ceo references the quote heightened threat environment saying it has provided more runway for longer-term growth. demand is there for crowdstrike products in the first quarter over 1500 net new subscription customers added, half adopting at least five cloud module s. adoption of cloud is happening, that's something analysts have been writing about and wall street has been taking notice, last week crowdstrike named top pick in the cybersecurity space forecasting double digit growth saying the company will benefit with more remote options and

just worth noting shares of crowdstrike still trading down 14% from its 52-week high. melissa? >> seema, thank you. we've had a lot of conversations about these stocks recently, tim, you've been behind this one. so what are your comments on the quarter? >> look it was a beat, it was a raise, 524 new subs, 144 million new arr, again we seen the arr growth, 75%-ish, revenue 81%, analysts saying high, high double digit growth, which is also the multiple as we said, 37, 38, 40 times revenues. and that's difficult but, where we are flight in th but where we are right now in the fight against cloud and cyber threats, early days and a customer base that keeps growing. i like this. multiple times and the price

action you're not chasing this, it is consolidating around 200 and i like it higher. >> interesting we also had lulu, good quarter and guidance and not much movement after-hours, we got this one, fits sort of the same profile, guy, in terms of high valuation, but did deliver on the quarter. >> was a great quarter again, their margins were very good and this calendar report seema talked about may 26th they talk about zscaler and put 225 price target there -- it is an excellent space in this quarter to your point you're not getting the price action and you should today the stocks traded horribly on the back of the conversations we had yesterday not suggesting we had anything to do with it going up or down but you would think given the news these stocks would trade better, someone pointed out all of the news is why it is not trading better because you wouldn't have these hacks if they did a better job. it's circular thing going on out there, the meme people, the

people on the line. >> coming up traders will talk out expectations after tomorrow's job report. don't move "fast money" back in two or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities.

announcer: xfinity wants to send you to universal orlando resorts' three incredible theme parks. where you could feel the rush of the hunt on jurassic world velocicoaster,

opening june 10th! plus, you'll stay steps away from the action at universal's cabana bay beach resort. to enter just say "universal parks" into your xfinity voice remote, or go to xfinityadventures.com for your chance to win! coming up at the top of the hour," "on the edge"" the promise, profits and problems of the great reopening of america,

all on tap tonight at 6:00 p.m. eastern right here on cnbc we're counting down to tomorrow's job reports, street expectations are high, consensus looking for 671,000 since last month what's the good news for the markets, tim >> right, bad news was good news last month remember we were feeling probably one of the crescendos of inflation fears and getting a rate spike and it came at the right time adp this morning at 975,000 well above expected the dynamic is that the services part of the economy is humming and finding workers is starting to become a problem. i know that sounds crazy or getting people to come back to work, let's see how that works into the equation. if you saw the ism services number, crazy-all-time high and the break down according to services story i think there's a chance this

can catch people's attention to the hot side on a day we saw the ten-year sell off about 0.3 of a point, starting to get back near the top of the range, starting to see volatility in markets, i think this is one the markets need to be careful about. >> hindsight meaning it misses expectations >> no. hot side meaning it shoez a stronger economy and put moroz pressure meaning it shows a stronger economy and puts more pressure on things. >> karen >> i'm in tim's camp, had the -- hot but not too hot. giant number then people start to think about does the tapering timeline get pushed forward so hot but not too hot is ideal. >> it is a disaster ten yuliaer trading immediately down to 147 and spent the rest of the day rallying and closing unchanged, the bond market is telling you change

i think the rates go higher. i think tomorrow will be fascinating day for the marketplace, melissa lee. >> breaking news on bill ackman afghan- spac universal music group will value the company $40 billion. >> everyone knew they had to have a huge acquisition so put a certain amount of private companies in that situation. music, stuff like that, seems so last-decade, i don't know. >> up next final trades woo! you are busy... working, parenting, problem solving. at new chapter vitamins we've been busy too... innovating, sourcing organic ingredients, testing them and fermenting.

fermenting? yeah like kombucha or yogurt. and we formulate everything so your body can really truly absorb the natural goodness. that's what we do, so you can do you. new chapter wellness, well done. (♪ ♪) whether it's a technology first, (♪ ♪) a fashion first, (♪ ♪) a science first, (♪ ♪) or a first for us all (♪ ♪) whatever you hope to achieve for your business, cloud first helps you get to value...first (♪ ♪) let there be change accenture

t-mobile is the leader in 5g. experience it now with the powerful iphone 12 pro with 5g on us. and with our new magenta max plan, you'll get unlimited premium data that can't slow down based on how much smartphone data you use. plus, taxes and fees are included. that's right, unlimited premium data and the iphone 12 pro on us. only at t-mobile. the leader in 5g.

time for the final trade, let's go around the horn, tim seymour? >> yeah, walmart, a friend in covid, a friend coming out of covid in stimulus and not. a name that i think is actually cheap on multiple. >> karen finerman? >> yes, so if the number is hot in multiple i want to be in big cap pharma space for me, lilly. >> dan nathan. >> guy adami thinks the dollar will be de -- i think the dollar is going higher. you play that. >> getting in your grill.

>> like nothing's changed. nothing's changed. i'll tell what you has changed, the docusign down trend has changed. docu, mel. >> all right thanks for watching "fast" see you back here at 5:00 for more "fast" meantime don't go anywhere "on the edge" starts right now. starts right now. >> i'm john foert. and this is on the edge on cnbc. >> are the meme man yacks flipping the skrept on amc the stock all over the placed to. >> other so-called meme stocks in the spotlight again. >> what's next for the movie house? and who will the reddit rebels go after next? the white house saying it's the job of big business to keep the world's cybercriminals from hacking america. >> it's a number of of the private entities to protect themselves.