wants to break to the upside see if it has follow-through. >> keep an eye on bitcoin there's been bumpy weekends of late a lot of bitcoin buyers might be liquid eighting to spend on drinks perhaps extra bumpy. all of that to come over the weekend and next week. before that you have the excellent "fast money," starting right now. live from the nasdaq market site overlook new york city's time square. i'm melissa lie. karen finerman, steve grasso guy adami and sim teerm. tonight on fast heading for a record stock staging a health rally over the past month and not even the disappointing jobs report did he rails it we bring you the trades. and building a legacy old school stocks have been leaching disrupters in the dust this year do you stick with the og or jump to the next again. we debate. did elon break up with bitcoin by tweet, the crypto post that sent prices dropping show stopping week

shares all over the map only finishing in the red second straight day but the stock up a whopping 83% this week and more than 2,000% this year. amc ceo adam aaron taking to youtube last night to speak directly to retail investors who fueled the stock's big surge, aaron defending the secondary offering and urging sharmds to support plans issued 25 million more shares. it was all going well and then this happened. >> make sure that our long-term future is very bright. and right now we don't have we don't have that tool at our disposal. and right now we don't have that. >> oops. aaron, airport pantless. you see it there speculation on line running wild that this was not accidental camera bump but intentional message to tweet the shorts betting against him. was it a giant accident? pg rated stunt the greatest pr stunt that ever

existed? karen what do you say. >> well given his string and how just, you know. >> his what. >> his string of -- yeah, i thought he was saying tool right when it happened honestly, seriously i don't know -- i don't think it was a stunt. but i feel like he has, you know, just won over most of his audience so thoroughly that anything he does they think is great. that was -- that was interesting. but i thought accident >> accident, real genuine accident. >> i think so. >> genuinely was not wearing pants. >> i think that's a risky maneuver, i think. not he hasn't done some risky maneuvers. i'm going with accident. >> it hasn't ended well for a lot of other people choosing to do calls with no pants on. i thought tweaking the shorts was a theme to glean from this. >> i would go with accident as well. >> really? like just oops, i'm not wearing pants, the camera tumbles down. >> so superaggressive.

but i guess -- i mean i could see it both ways i want to err on the side of giving the benefit of the doubt it was an accident but the truth is, to your defense and your opinion, everyone has something to put the camera on now or something to put the phone on now. they're not just free riding on the -- on the desk right now. >> let me ask you, you think they tried that five times -- no let's do it again? did we get the right shot? let's try it again i won be surprised. >> okay. >> if somebody was on the other side of the camera and purposely just bink, tipped it over. >> see what you guys are wearing over there. >> tim what do you say. >> tool was the code word to knock over the camera clearly. it -- look, no one in their right mind would do that as a -- as a planned pratt fall without pants on for all you know i'm not wearing pants right now.

but i wouldn't tip the camera over. >> now, guy, adami, the context of this of course is that 80% of the shareholders are retail investors at this point. he is pandering, catering to, whatever word you want to use to the shareholder base because shareholders at the end of the day, who ever you are they rule the company, right they should really -- so even if this were on purpose, didn't this play right into what he needs to do right now to convince the shareholder base to say, yes, potentially delude us. >> i mean -- accident -- first of all, it was not an accident not zipping the fly when you leave the men's room is accident trust me, i know not wearing pants when you do something is absolutely on purpose. and it's also pretty pathetic in my opinion and i'm sure he is -- he is enjoying all of this and this is not a demand i mean, this guy went to your

alma mater, harvard business school he is not a dope he knows what he is doing. but i also think pathetic. also this, the last i looked amc and amcx didn't have a lot to do with each other. look at a at mcx today if you don't think this thing is pro post-rouse on a number of levels you're not paying attention. i've said this a hundred times on this show i have the utmost respect for the wall street bets crowd, the reddit crowd these guys and gals are smarter than the people supposed to do this for a living and they understand convexity and gamut a lot better than people who are supposed to know about it. i remember in 2008 and 2009 which didn't get tweets back then we got hate mail saying i wish you warned us here we are trying to do something again now. and the folks don't want to be warned i get that we're not trying to protect you from yourself. we're trying to point out just the folly that's behind all of this again, just my opinion. >> i think pathetic is

definitely a word that many people out there would use other people would say that it is doing what he needs to do as ceo. as ceo he needs to raise money he needs to sell more shares we talked to rich greenfield yesterday. light shed partners who said they need to raise a lot more money. doing what he needs to do to convince shareholders to issue the shares, that's not pathetic. that's doing what a ceo needs to do in the moment karen, where do you fall on that. >> i agree with you. i think he needs -- well going back six months he needs to save the ship he needed to prevent them from going under, literally now that that is -- that risk at the moment is off the table because he raised cash and because his maturities are -- which talked about in the video he doesn't have any big maturities coming up the next few years. he has time. i want not like the stock is trading at equity -- option value. it's trading at a magi gant being market cap

to me, i think he is fantastic, done everything right. i just can't -- i come from a fundamental free cash flow-driven analysis. >> and that's old school. >> it's still out of favor i can't even tell you but all right. >> you look at fundamentals now one of the fundamentals that matter, short interest and social velocity. so to guy's point you look at that i totally agree but price is truth right, how many times does guy say that, the market says that, price is truth so price is truth. then what we are looking at is truth. if you have the best short thesis in the world, the market rallies. you lose right. that was ten years five years ago, that's now. so right now whether or not you agree with that amy is a good stock, bad stock, indifferent, this is the new fundamental reality that we are in. >> right and in fact take a listen to what trey collins who calls himself the leader of the apes, the retail investors in amc right now, how he thinks about price being truth.

>> don't get me wrong. there is risk involved with every sort of trade that's not based on fundamentals alone. but there is money to be made on moment you up. and that's what this is right now. it's a momentum play, it's a movement it's a story, man. i think the apes truly trying to tell the story about why they deserve to you know be heard, to make money because the short sellers have been betting against retail investors a long time. i think it seems like the retail investor has the upper hand. >> he conceded that amc shares are probably not worth what they're worth right now in a fundamental basis. maybe worth 20 tor $25 a share but he also said that at 47 or whatever it's trading at right now, i don't know whats it it is in the after hour. that is what at the market values amc right now that's all that matters. tim you tim you shake your head service of process why not. >> because short sellers aren't going after retail investors

they're going after bad companies. it's absurd. smart guy, but come on i'm tired after this this. this going after the man, thing, look, you can make money in momentum, lose money in momentum it's like mr. obvious day. that to me is a dynamic here that -- that ultimately the momentum that's being -- where the genesis is in the chat room -- any, i mean price can be truth in terms of a company being able to issue shares at a higher price doesn't change the company's business rich greenfield talked about cine mark and other companies that aren't going through the renaissance in terms of the share price. so, again, i -- investing with a incentive to track momentum is what a lot of professionals do so let's be clear. but in terms of looking at this as an us versus them, i'm sorry, i'm not buying into that i think that's dangerous and, again, look there is a lot of people -- there are a lot of

short sellers out there that have been borrowing stock they didn't have. in other words daumgts where retail investors can get caught. but it's really a dynamic where i think this is going after bad companies. >> but here is what's interesting. it is actually changing what wall street downo does how is does it. there is a report on bloomberg that various prime brokers are tightening requirements in order to short meme stocks guy i know you pointed this some firms through in the towel for companies like amc and gamestop because they are so divorced from fundamentals in terms of price action whether or not we like it, whether or not it's here to stay, at this moment in time, wall street is taking notice because they are changing how they are doing things. >> without question. and that was the awkward question maybe the way i phrase to do to rich greenfield yesterday. you know, what's change over the last four or five months since you issued that report on amc?

you're right things have absolutely fundamentally changed. and i couldn't agree more with what tim said. short sellers aren't going after the retail crew. that's not it at all they're pointing out some of the flawed companies and bring to light some of the companies that maybe shouldn't exist. without short sellers -- look without short sellers pointing things out, i mean if people listen to these guys and gals years ago. maybe the bear sterns wouldn't have been a disaster history is littered with those things don't think for a minute that hedge funds haven't hired people and put them in the chat rooms to get the flames of these things going, without question that's going on. and -- whether right or wrong i'm not here to judge. but it absolutely is going on. don't think it's the reddit and wsb crowd. there are moles in the group as well and they're playing to a higher bidder. >> i'm sure. all right we've got a news alert out of washington. elon mui with the details. >> elan. >> the white house moments ago issues their own read outof the

phone call between president biden and republican senator shelley moore capito the white house saying that republicans came up in their offer for an infrastructure package by $50 billion but indicating that is not even close to enough. the white house saying that the president expressed his gratitude for capito's effort and good will but also indicated that the current offer did not meet his object he was to grow the economy, tackle the climate crisis and create new jobs now, the white house had set monday as the deadline foreseeing some sort of direction in the progress of these talks. right now, it's sounding like the white house is getting closer to that fish or cut bait moment saying the latest republican offer does not meet their object he was he was melissa. >> elan, thank you elan mui out of washington grasso, how do you interpret the latest >> so the infrastructure bill that the democrats put forward is 6% basically was the beef that the republicans had was it

was 6% highways, bridges, tunnels, what you would deem as traditional infrastructure bills. now the reason why you are seeing them say that we need the republicans on is because he doesn't have the democrats on. so if he had the votes he would have done it -- the democrats would have done it on their own. they need to get their party in line before they get the other party in line. and it's just not enough highways not enough roads >> so it spounds like it's less zwloo -- did. >> he can't get it done. he can't get it done at this point. he hasth had his side onboard first. so that's what's troubling because a lot of this market depends on the rally kicking through. i would like to see that 6% come up to 12% or 10% and then the market can rally further from here. >> coming up when bad news is good news why a disappointing jobs report helps stocks especially tech to rally but the market a few breaths away from all-time lays.

new kids leading the way but sticking with the tried and true we'll get answers. we'll get answers. "fast money" is back in 2. and we can monitor to see that we're on track. like schwab intelligent income. schwab! introducing schwab intelligent income. a simple, modern way to pay youryour portfolio. oh, that's cool... i mean, we don't have that. schwab. a modern approach to wealth management. hey lily, i need a new wireless plan for my business, but all my employees need something different. oh, we can help with that. okay, imagine this... your mover, rob, he's on the scene and needs a plan with a mobile hotspot.

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from the record high, leading the way big tech, microsoft, apple, facebook, all posting substantial gains. this is the yield on the 10-year treasury dropped following the may jobs report slower than expected growth easing inflation concerns tim you were saying earlier on the call it was a big day for the mechanic, big stretch for the markets. >> well, it's been a very big two plus weeks since we had the turn around wednesday. and so off that entry-day low you have markets in the s&p up almost 5 -- excuse me 4.5% in a short amount of time with the vix plunging another 9% today. 16.5 dollar back in downmode. gold rallying and megacap tech outperforming despite the fact if you look at the megacap or triple q's the underperforming the s&p by 7.5% sinced mid-february when we peaked on the frothiness around spacs and everything else. i think 80s case where markets really today went into the

weekend with no cares in the world seemingly with the fed on the sidelines. and that worries me a bit. >> fed on the sidelines is the best news possible the weaker than expected jobs report, you know, book mark with hotter than, you know, expect the inflation on many metrics, karen, that gives us the goldilocks era for yields, fantastic to be big cap tech. >> in the short-term. >> right. >> ultimately you do want unemployment to go back down further, right but we are sort of -- we don't want any sudden moves. i always think of the analogy, the fed is hold us hostage if we don't make sudden moves we'll get pout alive that was not a sudden move today, i feel like a little less than we would like, but it wasn't superhot which would be worse we don't have the market multiple compression that a real hot jobs number would have shone us so it was just fine. but i'd like to see actually a little more job growth >> the market has been really

performing well, right here between on the 10-year, it is 1.55, 1.5 a to 1.74 on the 10-year yield. if we break down we lose value if we break above the 1.74 we lose tech. if you are a market index person, you're hoping we break down but right now as long as we stay right here, it's kind of perfect for everybody. >> yeah. guy, what do you make of the market action? >> yeah, i love karen's aanesthesiology nalg but i saw dog day afternoon actually in the theaters and it didn't work out for john cassal if you know what i'm talking about. the right now i agree the fed is doing everything right i don't know how long is lasts the market action it's been what it's been the last seemingly seven or eight years market forgets i woos later. but peter putbar put up an interesting piece about the a number and what the market fails to recognize wage inflation is here

and that's not going away. when the market figures it out the yields might be high they are the weeks to come. >> and have the stocks and companies that would suffer the most from wage inflation although benefitting on the other side from customers having more money, have they factored that in, do you think, something like the companies that are. >> well, wal-mart. >> wal-mart, exactly, mdonald's, you name it >> so, look, there is different reasons why wal-mart has gone sideways andnot taken part my final trade last night. wal-mart, the profit nlt, gross margins are improving. they win the food wars eventually and taking share and e-commercial the labor input costs are significant. and look it's good for america it's good for some of the social dynamics that are awful in our country, frankly where people underpaid and can't raise a family working a full week at a place like wal-mart. i'm not saying wal-mart is doing

this to people but the point you're asking about labor pressures is very real and start to be a bigger issue, especially with some of the industrial companies that are going to have to also increase their -- their pay to labor but also to the cost inputs in terms of materials prices, i think, you know, i think second half of the year those are big issues. >> karen, good for the consumer, bad for the markets? where do you come out on that on the wage inflation. >> oh, that's a -- i think net-net slightly better for the consumer, more consumers with more money. >> but worse for stocks? >> yeah. >> in theory. >> in theory, right. >> coming up, breaking up is hard to do the tweet that sent crypto prices dropping today. we'll bring it to you. and be sure to stick around for "on the edge" at 6 "p. we'll hear fl the acting drerks of cyberand security agency about the stunning revrmgs the u.s. government doesn't know about one of the country's latest hacks coming up top of the hour. in the meantime "fast money" is back in two.

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welcome back to "fast money. bitcoin dropping more than 3% today after another cryptic tweet in in from elon. tweeting bitcoin with a heart break emoji in this meme about a breakup. we started with pantless adam aaron and ending with elon musk and emojis what do you think this means, karen. >> i think maybe it means tesla out of their bitcoin, maybe. could that be what it means? i don't know it's -- i sort of think it's sort of a waste of his time.

i don't really know what he is doing. i don't know what he is doing. i do think every time he tweets it will be a more muted effect on bitcoin, because he tweets all the time sort of i don't get it at all. but i don't think there is anything criminal about it or anything like that. >> even though -- here is the issue we're discussing in just in the commercial break. tesla does have bitcoin on the balance sheet. so from that perspective could elon musk maybe be inviting trouble by tweeting about something that tesla owns? even if it doesn't participate to the upside when it goes up. it does participate to the downside. >> let me give you a counter to that do they own raw materials including copper they need to make teslas in they do he could talk copper up down say whatever they want do they own tesla shares they could issue at some time he could talk those up or down. he talked them down before. >> there is a point where it does get to be manipulation if

he talks something up or down just holding stuff out of the air, something has to be based on some sort of factual. >> if he starts making up the numbers np that's a different issue yes. >> right that's different. >> it's a little irresponsible to me but i don't see it as the making up numbers for the cold war. >> baier where do you stand, guy. the tesla shares up 4.5% today doesn't seem like it's a big deal for shareholders. >> it's not. no and listen o to me, he is a brilliant man but i'm more with steve on this. i don't think it's criminal. but at what point -- is there at responsibility to sort of hold the position in a higher regard than to do dopey things? and i'm choosing that word on twitter i don't know that's the world we liver in right now. i clearly am too much of a boomer i get it maybe i'm a little too old fashioned. i don't understand what he has to gain by doing these things it makes no sense.

>> you got ryan cohen tweeting ice cream kpoins elon musk tweeting bitcoin emoji. time for the trienniale trade. tim sheerm what do you say. >> google. >> guy you see that movie in the docusign, sister >> yeah. >> karen >> tjx hasn't been great but i elijah is it. >> grasso. >> rezi buy. >> "options action" up right >> "options action" up right after thismemorable 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

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happy friday "options action" fans i'm melissa lee. we are back at the market site in times square. we have a big show coming your way. straight to it, the biggest story in the market this week, the blockbuster performance from amc, the hollywood comeback like we have never seen before. shares of the movie theater gaining more than 80% this week. but the show stop they are the options pit. the ramp up began last week. but consider this wednesday amc alone made up 15% of all options activity in the united states. a lot of people made a lot of money trading in and out o