tv Fast Money CNBC June 8, 2021 5:00pm-6:00pm EDT
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much do earnings matter for name traders. >> not for the earnings reported but the plan matters, if there's a big transformal story, gamestop market cap is equal to market to interactive. >> -- we're out of time on "closing bell. "fast money" starts now. ed live from the nasdaq market site over looking new york city's time square this is "fast money. it's good to be back at the nasdaq, i'm courtney reagan filling in for melissa lee tonight's trader lineup, dan nathan, karen finerman, guy adami and tim seymour, tonight on fast, bitcoin goes bust, prices crashing below the $32,000 mark for the first-degree thyme since february will the crypto role in the colonialal pipeline hack mean the world will change for the digital coin
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plus lordstown, plunging well after-hours, and move over amc, there's a new favorite stock for reddit traders and what options traders say. first starting with colonial pipeline hack, heading to capitol hill to testify on the breach, for all of the details let's get to eamon javers. good evening. >> this is about examining the decisions made about the colonial pipeline, one the decision to shut down the pipeline all together and the other controversial decision about paying ransome he was asked at one point whats worst-case scenario could have been in terms of colonial pipeline not paying entrance --
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the ransransom here a.i. what he said here a.i. what he said. >> we are seeing people doing unsafe things like filling garbage bags with gas or fist fighting at the fuel pump. the concern would be what would happen if stretched beyond that atmosphere of thyme. >> amount of time >> he raised the prospect jet fuels couldn't get to jets, and first responders couldn't get access to their vehicles, all things that could have happened if they hadn't paid the ransom other question whether colonialal pipeline couldn't operate manually why is so data-driven, why couldn't they turn valves and operate the pipeline here's what he said on that. >> a lot of those people that did operate colonial pipeline and other infrastructure in america, historically, manually,
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they're retiring or are gone, fortunately we still have that last bit of generation which allowed us to do what we did in this eventually particularly event. >> there's a back to the future moment when he is talking about older generation of pipeline workers who know how to turn dials and valves to operate the pipeline manually, he said that is aging out of the workforce but that might we what they need going forward to hedge against the risk of the pipeline action that's something corporate america might take into account. how do you go back on an a log past to hedge against the d digital future >> it provides some level of comfort that a human can make fixes caused by discorruption -- disruption in technology
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>> like the old days. >> back to the future. thank you very much. karen, let's start with you, there's a lot of layers to this story, let's move cryptocurrencies to the side, how does this make you think of cyber software companies, companies that protect with ransom and different levels of security for all our lives that are now run online. >> you can see the demand for that product would be sky high another thing i think about is what kind of duplicate measures do companies need to take, how much more expense do we need to build in so they can have some analog solution to cyber problems, is there a work around there. we didn't talk about fastly. but to the extent these things happen, it adds another level of risk to any company and i don't know how to value that yet, right? so in a few days maybe i will
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forget, yet the risk is still there, for sure, we've seen it over and over now. so i don't know who to think about that so cybersecurity stocks are sky high, is now the time to buy them my gut would tell me it was but not now. at the moment i will probably sit there being scared of risk which is what i do >> there you go. dan, what's the way to play it. >> listen, we're going to talk about couple instances this week of a single point of failure we spent 20 years thinking about war on terror saying we won't negotiate with terrorist but when you are a corporation with investrors relying on you one of them have proper procedures in place to void this thing
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it seems simple at the end of the day. >> guy, if you're a trader or investor a retailer or pipeline, what do you need to tell your investors, you don't want to giveaway the goods to be susceptible to hacks but who do you assure these companies are appropriately protected or is dual authentication. >> great to have you courtney, i don't know the data but i would submit probably correctly for every story we talk about there's probably 20 companies that get hacked we never hear about, for whatever reason that is, this is not going to way any time soon. get news, i guess, for single gordon tokumatsus, it's no stocks, it's not going to effect the si single
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stocks, the bad news is this the tip of the iceberg. as society we seem like we're down the chain in terms of evolution, we're at the head of the pin of hierarchy if you want to get thing going, take down the banking system, unfortunately, i think that's on the horizon. for me it's not a story about the cybersecurity stocks or how to play it but it's about what it could mean for the united states as a whole. i don't like the picture it portrays. >> wow thanks for scaring us, guy, good evening to you mr. steve are you a name of fireeye or at palo alto, companies will need to make invest thes in -- investments in >> guy's right to call them existential risk and we will
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attach greater cost greater than on dcf or companies in industries more at risk. i think there's a cost bojan both in how you value company but in c suite there's a cost with irony we all move to disaster recovery plans, which meant moving to the cloud, to a place that was more easy to take out than the brick and the mortar i know that from my own businesses over the years and i think that's really where a lot of corporate america have gone back to the sccyber stocks, they're expensive, but as we've talked about this story, they haven't all run in the middle of this story but two of the bigger dine am eickhoffs or events -- dynamics or events we talk about, solar wind is one, and i like crowdstrike, recent earnings, we got to hear
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of arr growth 75%, revenue be growth 80%, a valuation that probably isn't supposed to make sense but you look again at the portfolio of clients and growth and the breadth there and i -- you know, i'm not that scared of that valuation for a guy that's not quite as high-growth stock valuation a verse as karen, but i do care about valuations a lot, and i think this is a case you have to pay up. >> two things here gross margins for most corporations in the u.s. are at all-time high and taxes at all-time low so there is plenty of opportunity to invest in the security apparatus and avoid high profile iwundus, you mentioned target, i'm sure plenty of companies figured it out yes some companies trade at ridiculous multiples, palo alto
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growing 27% per year, we know there will be demand for those products for years and years so there's plenty of places to play in traditional metrics may seem expensive but enterprise software trading 7 times the outyear sales seems reasonable. >> good point. another layer we want to talk about, the use of bitcoin to pay the colonial pipeline hackers sending crypto prices plunge ago cross the board, will this be a problem for the industry let's bring in executive director of the blockchain a t.j. oshie iation the blockchain association, thank you for being here you don't think getting the access to the password and recover some of this to that account will really reck bitcoin, why not, isn't that part of what we love about bitcoin how protective it is and how locked it is >> well, just because they got hold of the private key doesn't
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mean that bitcoin is broken nor other crypto networks are broken, there's a lot of ways people get hold of private keys if they get on computers and secure it in a way that is insecure so we don't know how they got it the important thing with colonial pipeline is that they worked with law enforcement very early and they were able to work together on the strategy going forward. i think as we learn more and more details if we do learn more details we will find indeed bitcoin is not broken, it is a very open, very transparent, you can go in and see the code, there's not a vulnerability there it isstrong land continu to be strong. >> it's karen, let me ask you something, to me this is somewhat of a side show bitcoin story to the extent that's about fiat and digital currency this
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doesn't seem to so relevant what do you think are the central stories in bitcoin and what is weakening the trading. >> the price is a big difference, there was a love euphoria in the miami bitcoin conference, now that's over, prices have collapsed, it could be less understanding with new investors but bitcoin is strong there will only be 21 million bitcoin, we only have 18 million in circulation today, the rest will be mined in the future. that makes it a scarce digital asset that will have value to those who value a scarce place to store their value so i think what we really need to look at with cryptocurrencies networks what is the underlying function of that network there's so much innovation with
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decentralized finance, with web 3.0 applications that really do provide a new type of critical infrastructure to use that phrase, that is less vulnerable. we saw earlier today the internet went out a little bit, aws, there's a at alternative, called biocoin a decentralized network that wouldn't go down. as users start to integrate cryptocurrencies based products into their life we will see these less volatile swings on the news. >> it's tim, thanks for joining us the term side show has been used by karen, how about the side show of elon musk or ceos that have gone out of their way to talk about where they're using bitcoin, where it's lit a fire under things, do you any on some level that is actually deattract -- detracting from use cases, networks that are not at all bitcoin bitcoin-reliant, but the overall
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story which has gotten more attention from a handful of individuals who may not at all be part of this. >> yeah, no, i think that it's unfortunate that we've seen such reactions and statements by elon musk i think a lot of that is driven by a little bit of a misunderstanding, it's definitely something that is around for the foreseeable future you're a consumer and think about purchasing bitcoin you need to be aware there's reactions to things like that and it's something you need to watch out for. so, you shouldn't be putting your assets into this space if you can't stomach some of the swings that the markets are undergoing these days >> that's pretty good advice for anyone wanting to play in the crypto space kristin smith, thank you very much for being with us tonight guy what do you think about bitcoin, down 50% from the all-time high.
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is opportunity to get in or more risk to come from a tweet from elon musk or anything else that makes this cryptocurrencies go wild. >> certainly would appear to be more risky. if you think this is a asset that is going to half million a coin, the difference between 20,000 and $30,000 is negligible, if you think it is to trade to 50, then 20 to 30 is significant. carter worth suggests it will trade to $20,000 which makes sense for a myriad of reasons, a lot of people are lining up that way so i think there's still risk to come i'm surprised it hasn't manifested itself in terms of volatility in the equity market. only a matter of thyme a further fall in crypto will make an impact on equities. >> good point. let's look at fastly, karen brought it up early, shares of the cloud company dropping after
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system feilfailure -- highlighting develop . >> lows down 65% from all-time highs of six months ago. this was a high flyer. pandemic winner. saw i massive pull forward and demand for products. a lot of customer concentration operation, you have 22% short interest, you have bad news, people can't quantify it it's not something you can say it is their fault. you just run out of sellers and good old fashion short squeeze, maybe, naked shorts i don't know. >> tim >> just the case there's been a whirl wind around the stock. you know, i think there's more volatility to come i'm not sure that the selling
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pressure is over but i agree with dan, at some point you see exhaustion. >> all right coming up, new virus fears are causing major shipping delays in china, what does it mean for the retail trade first, shares of lordstown falling hard, we'll tell you what was behind the big droch when "fast money" returns. ial en retirement, so you can live the life you want. when "fast money" returns. protectedincome.org. my retirement plan with voya keeps me moving forward. they guide me with achievable steps that give me confidence. this is my granddaughter...she's cute like her grandpa. voya doesn't just help me get to retirement... ...they're with me all the way through it. voya. be confident to and through retirement. sales are down from last quarter but we are hoping things will pick up by q3. yeah...uh... doug? sorry about that. umm... what...its...um...
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and get unlimited with 5g included for $30 on the nations fastest, most reliable network. . welcome back to "fast money. check out lordstown motor dropping sharply after issue a stark warning about its future, let's hear the details, hi, phil. >> what's going on, 24 this is a report from lordstown not a complete surprise given the fact the company on friday was told by the nasdaq, look, you got to file a 10q, if you don't we may delist you, well they filed a 10q including a going concern n95 masksotice il about cash the company believes its current level of cash and cash equivalents are not sufficient
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to fund commercial-scale production to launch the sale of such vehicle, talking about the first pick-up truck scheduled to go into production by the end of the third yard, the endurance pick up, but lordstown losing 30% just today the real question becomes if they don't have the cash now, if they don't find a investor or find cash as quick as possible will they even make it to production by the end of the third quarter? curious to see what happens in the next couple weeks >> this is like you said at the beginning of the report, confirmation, previously what they told us earnings they did it in the official capacity in 10q, right. >> right any time you say we're requesting whether or not we could be a going concern, ultimately if you're a investor you're going to say
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am i going to keep my money with these guys, because there's a chance in three to six months they may not make it to production and then what's going to 457 happen with these guys. ends of the day that's the main question >> thank you so much. >> you bet. >> karen, we talked about this few weeks ago when they put out earnings, would you get near this >> no it's not my kind of thing. on the flip side this is very similar to what they put out before i don't get this is new in anyway, except a little time has gone by. there's no deal with a strategic partner yet. every day that goes by the leverage of the strategic partner whoever that might be, gm, you don't know, they have a little bit stronger hand you're in it for that strategic partner then worry but to me not much has really changed. this is just the auditor saying this is the language you have to use, ongoing concern, it's a red flag, it should be but doesn't sound like new news to me
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>> right now that it has taken a further dip down, dan, you feeling risky? what if they find a strategic partner? >> not my cup of tea either. this fits into the meme stock frenzy it can go to zero. it has 31% short interest. $2 billion pre-revenue market cap company. who knows, if some strategy eickhoff partner comes strategy eickhoff ic partner comes strategy i not my cup of tea. >> what do you think tim drinking the tea >> no, definitely not, karen said not her thing, not dan's cup of tea, this sounds like battery ass acid ba battery acid pun intended they told you a handful of things on the earnings call,
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this company has $250 million in cap ex and significant op ex cost and there's no cash anywhere yes there's short interest yes this could bid higher. but maybe a strategy ic stakelenburgs takakeishos takes it out for how much? let's say an oem wants it. this company has very, very little room to maneuver. after this announcement, yes there's certain things they have to say, but we talked about this when we were on for reporting of the numbers, terrible, but the balance sheet potentially doesn't exist. why invest here when you have a ford and gm with byza businesse that are very exposed to ev and hydro fuel cell autonomy and valuation are very attractive >> i feel like i was there with you that night, with lordstown, we have to talk about it when
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stock drops that much whether or not we think it is new news or not. we're just getting started on "fast money. here's what's next. >> china sparking major shipping delays, what's it mean for retail the traders check on that trade next plus options traders going crazy over new reddit darlings, which nesam should you dig into? that and a lot more when "fast money" returns your mover, rob, he's on the scene and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, asap! so basically i can pick the right plan for each employee... yeah i should've just led with that... with at&t business... you can pick the best plan for each employee and only pay for the features they need. there's interest you accrue,
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disruptions for global supply chains, feels like we've been here before, i don't like it we're live in beijing, tell us what's going on? >> well, courtney, the outbreak is occurring about a thousand miles from where i am in the trading hub of guangzhou, and they're seeing a surge of number of residents looking to get jabs after local officials described the new variant called delta, from india, as alarming. so what's happening is health officials detected that the early cases came from a restaurant where the patients had no direct contact and were sitting several yards away from each other, much further than the original strain from wuhan also several of the cases have been a-symptomatic, which would
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make it more difficult to track people in the general population with the thermal scanner that's have popped up all over the country. and finally and maybe most disconcerting is that some of those patients had been inoculated with chinese vaccines which would suggest the home-grown vaccines aren't necessarily as effective against this particular strain now the authorities were very quick to point out that none of the illnesses have become deadly officials though are moving very aggressively to try to stamp out this virus they've already been testing several people in zbo zboungz --guangzhou, 18 million in three days, sending in thousands of workers and locking down communities guangzhou --gu8 million in three days, sending in thousands of workers and locking down communities in goounz guangzhou and as you
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can imagine, this is effecting the port in particular this massive port handles one quarter of the goods from china that are shipped to the united states, that port is seeing a capacity reduction and because of that, as you can imagine it's having a knock on effect on the ports that are around yen chen because ships are rerooting and going to smaller ones -- and trucking costs are going up. shippers are complaining they are seeing rises that truckers are waiting outside the gate and said on top of all of the problems with the shippers because of the global log jam that waiting times will extend by another three weeks >> wow, thank you so much for giving us the run down there there's really a lot to get to we want to get more on the mention of the global supply chain and likely consumer impact joining us ceo of united
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national consumer suppliers, a company that helps manufacturers deliver over-stocks through ports around the world thank you so much for joining us at the end, she talked about how we're already very constrained, congested in the world, when it comes to shipping because of a variety of factors add in this new delta variant causing disruption at a port that handles a quarter of goods shipped from china to the united states, i mean, how bad is can you quantify that for snus us >> we look at this on a daily basis. this will trickle down to wall street there is no good timing for another variant but from supply chain standpoint the timing is horrible you have tremendously strained supply chain from original closures in march all the way through recent closures in india coupled with 3 to 4x shipping
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rate on containers out of china and fuel cost here, the timing is horrific and will cause massive delays in the supply chain and have tremendous economic effect. >> mike, a lot of people -- i shouldn't say a lot of people -- there are people who think the supply chain problems take care of themselves relatively quickly, i think nothing can be further from the truth can you speak to how long these things take to sort themselves out. >> we're north of 12 months off the beginning of the closure and are still seeing major delays on everything from fitness equipment to, you know, people weren't panic buying toilet paper, they were panic buying everything consumerism is at an all-time high in our lifetime and there's not enough product to meet the demand these effects are here for quite a while. you're going to see this continue q3 all the way through q4 and definitely that's our biggest shopping season. >> i want to sneak in one more
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before we have to let you go you're talking about the demand for products but what's it mean for the prices that consumers ultimately pay this has to be a costly endeavor for companies looking to import anything, if you're talking about rerouting or extending the time so ultimately, are we going to pay more if so when and on what products? >> yeah by q3 you will start to see everything across the board go up. 50% up on fitness equipment because of the cost of steel and retailer can only stand so much before it trickles do the street and effect the pricing, it will effect the pricing to the consumer or the stock price will take a serious hit. i thy we know how it will go. >> thank you for joining us. brent rose, good to speak with you again. karen, so if this is going to impact the prices consumers pay, even be though we seem strongs a consumer in the united states, what's it mean how you play
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these stocks. >> when you have these kind of shortages it's very difficult to get -- to get your goods here, who has the most juice in that game the walmarts of the world? right. the amazons of the world the targets of the world for my retail exposure that's where i want to be, they've been able to weather the best and have the most clout in negotiations and will get the goods first and have scale 20 to allow them to absorb that price increase i'm long walmart, target and amazon >> speaking of amazon, guy, what ask that mean for prime day coming up, big online shopping holiday for everyone but you, because you don't buy anything online, last we talked you never made an online prvp but if you're a normal person in america and shopping amazon or otherwise what's it mean for the prices you're willing to pay or access to goods you will have. >> first of all, thank you for
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pointing it out, that is true, i'm definitely not a normal person listen, i think people are willing to pay off we learned people are willing to pay up for their goods, if it takes an extra day, so be it that speaks to the bigger problem others think maybe just temporary, you know, it's inflation all around us, we just had a conversation about exactlily that so this story i don't think effects amazon karen makes a great point. tim and dan will tell you amazon traded sideways since july/august last year. the stock has gone nowhere, interesting. but to me it speaks to a bigger problem, the inflation airy pressures whether we acknowledge or not, they are there >> this is the deaf international of transitory and what it does for the inflation hawks, it throws the monkey refugee into the idea that the fed will have to combat this inflation by raising interest rates. they will have to do the exact
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opposite if the consumer is getting pinched. while we still have expanded unemployment benefits and liquidity in the system and consumer balance sheets in great plays to off sit the transitory price increases. i just don't really buy it like courtney said before, these things tend to work themselves out over time and we don't know how long this will last. it were to last longer than expected, the issue in china, in the ports here, it just gives the feds more cover to remain dubbish >> maybe more positive, our next guest says time to be cautious let's bring in chris perron to char verrone to is -- chart it out. >> quietly stocks back to start of the surfac remember, tends to work very
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well first year off the low. we're 15 months off the low and starting to see exhaustion with the stocks we brought five charts the first is sysimple. it's worth acknowledge with s&p back at highs only have 50% of discretionary sector above the 50-day moving average so there's internal weakness starting to show up in this sector in last number of weeks, that's notable, momentum has come out. if you go to the second chart, very notable, the relative performance of the sector has flagged versus the s&p this is equal weight not just amazon or netflix the average discretionary stock has started to soften relative to the index so there's been subtle weakness starting to emerge over the last six, seven, eight weeks. if you dig down on some of the names. pretty good ones pretty bad ones. one pretty good one.
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on the weak side, nike has probably topped here this stock hasn't made progress in six or seven months, on a relative basis making new relative lows. 131 level is huge. i don't think it will hold here. at the least we can say it's not leadership we go to lvs epicenter name at the heart of this reopen, another example of a discretionary stock that hasn't stopped these are ten-year relative lows for lvs. epicenter names have soft end. cmg, chipotle, another weaker name in the group. very expensive rates came in, didn't go up. this should concern us so three weak ones there on the positive side the autos are the best group in discretionary. general motors very strong auto name in the sector focus on leadership, gm is
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leadership we think it's on the way to 75 it trades 63 right now auto is leadership the rest of sector here a little funky >> chris, thank you very much. >> thank you. >> those are good charts and good names to toss around, tim, are you a buyer of nike, las vegas sands, chipotle, gm? >> well, we've talked cars, i've talked gm allot, people know i'm bullish there. let me talk nike, a name i own too. chris does great work. got 50 coming a cross here, it's below the 50's, gave it up while ago, about to see 50 cross over to the down side around 131. the stock hasn't traded below 200 in over two years, if you takakeisho outthe covid spike down it's trading 44 timesish so, i like the valuation when the stock chart looked different. i like the valuation less here
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i love the company i will just say this, there are retailers especially in discretionary and with walmart higher prices it's a good time to own them. i think they have pricing power that they can pass on especially with consumer with extra nickels in the pocket. i hate the nike chart but like the company. >> good point with the price to cover wages but that's a popular stock with traders coming up, option market getting in on a surge we'll find out what they're seeing. first a micron melt down, spooking investors, more when "fast money" returns
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>> yeah, it's interesting when you see where the chart topped out some time in april. you know the great tom lee who often comes on this program talking about inflation expect a-- expectations starting to come down. this flies to s cyclicals and we're seeing analysts talk about less demand and that ties in well with tom's thesis, bond yields going down, inflation expectation topped out, you want to buy equity so maybe down 17%, maybe the worse is in it for micron, we know it's a cheap stock but for me it is the back half of the story, a lot of the supply/demand dynamics that were odd because of the pandemic will abate in the back half of the year and we'll see less demand and more supply. who knows with the port thing. >> guy, what do you make of the
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move with micron, whether or not you're a player. >> may 25th wasn't that long ago, i can't do the math but doesn't seem like long ago, i mention that because on that day micron spoke at a jpmorgan conference and magically said, strong demand for d ram and nan, amazing how quick things changed, what changed? stock was trading 81 on that day. tim will say this and it's true, you don't buy these stocks when the valuation is low, that typically is sort of a bit of a red flag, it feels like there's more down side here. if they're telling you the d ram prices are going lower these stocks tend to be very kmotitized when things go bad and can shoot to the down side just like it shot to the upside >> right now at 83 we'll keep an eye. coming up, traders hoping to cash in on
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another reddit target. professor khouw will break down the trade, don't go anywhere, "fast money" back after this. our retirement plan with voya, keeps us moving forward. hey, kevin! hey, guys! they have customized solutions to help our family's special needs... giving us confidence in our future... ...and in kevin's. voya. well planned. well invested. well protected. that building you're trying to buy, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you see it. you want it. you ten-x it. it's that fast. if i could, i'd ten-x everything. like... uh... these salads. or these sandwiches... ten-x does the same thing, but with buildings. sweet. oh no, he wasn't... oh, actually... that looks pretty good. see it. want it. ten-x it. yum! need better sleep? try nature's bounty sleep 3 a unique tri layer supplement,
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>> welcome back to "fast money", check out these monster movers, former spac, clover health and wendy's ripping to all-time highs. clover the second most popular on wall street bets, now up 90% since beginning of june, it's now june 8th. options activity went crazy so let's bring in mike khouw on the options action, mike, what caught your eye? >> it was the second most mentioned name and busiest in option space trading 15 times average daily volume most active contracts june 22, more than 260,000 traded for $4.60 per share. multiply that by 100 to get the multiple per contract. by the way, that's more contracts traded on just that
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one clover health option than all of microsoft options trading today combined. right now the options market is implying the move of $10.50 by a week from friday most of the best from the rebellion reddit crowd seem the rally in this could somehow continue. >> meme stocks, you never know who the next target will be, thinking of wendy's made had he want a froste. more "options action" on friday 5:30. coming up, stocks closing near record-highs. what to do with your money traders lay out their play books next as cnbc continues to celebrate pride all june here's goldman sachs >> the way around stigma is through encouragement, support by those around you. i was very fortunate when i decided to come out at goldman sachs exactly two years ago i had that support from my colleagues
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to me. to me. [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”]
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on the nations fastest, most reliable network. welcome back here is a sneak peek at the cramer cam, jim is talking with the ceo of actisituvision vmt that's on "mad money". the s&p quietly climbed more than 4% off may lows tim, what do you make of these moves and inability to set a new record, so close >> well, look, i'm not too worried about it, again, as you pointed out we're talking four and quarter percent since may 19th inter-day lows. i think should focus on yield falling, i don't think that's good, they're falling when commodity prices continue to move higher, keep talking about
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brant, keep stay focused on the oh, and oil services, but the fact yield interday lows were back to levels of march, be careful, i'm worried about the move lower in rates. >> dan, what do you think of rates. >> i can't agree with tim more it seems everyone is positione for high rates, if i look at the ten-year u.s. treasury yield and we break 1.46 level that's the day after that may jobs report where we saw a really sharp drop in rates came back a little bit. you're looking at 1.2% you can say that's great for equities, and a lot of people feel that way, but to tim's point, what else is going on how weak is the data are we going to get a june bad report of three consecutive months in a row? what's that mean for the economic recovery & layer in all of the stuff we're talking about. lots of bad stuff right now >> yeah, karen, lots of bad stuff but trading equities
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pretty quiet what's it mean going into the weekend. >> we have a little bit of data tomorrow but the next day we have cpi, that's been a really important metric. i have been a believer that inflation is coming. i know it seems transitory, i get it, you can see contango in a lot of commodities why that might be the case. i'm long financials. i'd rather have rates firmer and economy do better and rates be hotter, maybe we'll get a sense of that with cpi on thursday we have a hot number could be transitory, i'm believe in it, i'm not making fun of it, but if we see a less hot number then more people will gravitate towards the transitory trade probably upgrade for a lot of things >> both things can be true, you can have inflation, but it can
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>> all right, tim. >> great having you, courtney. amazon. >> thank you. >> karen. >> uw wrks. >> tim >> oracle. >> great to be here on "fast money" at nasdaq adank you for wachaing "m money" with jim cramer starts right now my mission is simple, to make you money i'm here to level the playing field for all investinvestors, m here to level the playing field. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends, i'm trying to make you money. my job is not just to entertain but educate and teach. call me or tweet me @jimcramer let's see. 28 highly pa
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