to acknowledge what is already effectively acknowledged that this is underway, discussions are underway, but without pinpointing timing. >> that's exciting that's wednesday we've got that. >> powell leads "closing bell. can't beat that. >> until then, we are out of time today thanks for watching "closing bell." "fast money" starts now. from the nasdaq in new york, this is "fast money. i'm brian sullivan welcome. your trader lineup tonight, dan, tim, and karen tonight on "fast" despite a record close for the s&p 500 tony dwyer out with a warning to investors ahead of this week's big decision what that is and where to invest right now ahead. plus, buckle up. we are trading not one, not two, but three big headlines in the auto sector. what they are and how our traders are riding the news. and later on, check this maroon 5 jesse carmichael is

here the band dropped a new album with a first-of-its-kind crypto component. they are hoppining it moves lik jagger all right. welcome, everyone. so much to do tonight. look at that the numbers. not huge, but enough to make a record high. let's start with that and your money because the record close for the superhero and the nasdaq technology getting love and helping lift us to all-time highs. it comes despite a dire warning from the fed paul tutor jones saying central bank is risking its credibility and its policies could lead to inflation that is more than just transitory >> i watched the fed on wednesday. if they treat these numbers, which were material events, they are very material, and if they treat them with nonshaul sauns, it's a green light to bet

heavily on inflation trades. the idea that inflation is transitory to me is -- that one just doesn't work the way i see the world. >> so, with less than two days before what might be the most important or one of the most important fed meetings of jay powell's career, should our audience be going all in >> i think so. i hope you read that thing about maroon 5 in the teleprompter right. >> that would have been a beautiful mistake. [ laughter ] >> i believe in reflation trade. i believe in everything paul tudor jones said he cut his teeth in commodities. some things were self-serving. i get it inflation is here to stay, to bet against it i think is foolish. i am surprised that ten-year yields can't get off the mat they did a little bit today.

i think the resource trade works. tim can speak to that. i am in the paul tudor jones camp. >> so, obviously, a macro trading legend, right? over the last 40 years, i guess my question would be what is different this time? is it different this time that we just had a pandemic, this black swan event it was one of the worst health and economic crisises in hundred one years? i remember prior to the pandemic the idea that inflation couldn't get going fast enough, that we were worried about deflation in all the forces going on in technology, globalization, that sort of thing. when i think the last 14 or 15 months, i don't understand how a legend like that and these other guys, all these other people weighing in, all of a sudden a black swan event has created this weird supply/demand dynamic and we are having supply chains messed up, still dealing with the virus, still upticks in china that are causing shipping delays i get it the point is, what is your definition of transitory because if you are telling me that a

pandemic is going to cause, like, record inflation from here on out or we will have 5% growth year over year, it doesn't make any sense. >> by the way, you nailed it there is a covid outbreak in a port in china right now that is making things worse. i think the idea is that, yes, it was the pandemic which led to global record central bank money printing which has exacerbated -- >> like the financial crisis it 12 years ago and everyone is screaming and moaning. the fed did not come off for five years they didn't taper bond plcurchas for five years at the end when we were like so sick of the discussion about it, what did we have we had deflationary pressures. i am not certain why that shouldn't come back in 2022. >> we'll see karen, what are your thoughts? i think it was goldman out today saying no trait hikes to 2023. the bond market, by the way, may disagree with that

are you going all in on the inflation trade? >> i'm in the inflation camp but i never go all in on anything and i got to say i agree with dan that, you know, this -- let's see. i don't agree with paul tudor jones' assessment that this meeting has to be the one necessarily because i do think this the fed ishould have more time to assess the situation and we started to see -- we'll start to see, actually, whether the cpi comes in a little bit over the next month or two or three so i think the fed has a little time to wait now, i am a little skeptical that inflation is completely transitory so i'm positioned for inflation. i have, you know, banks, they do better in inflation. i think a lot of things do better with inflation. but i am certainly not making any big bond belts, any big comm commodity bets that's not my thing. i feel like the fed has a little

bit more time to look some things coming in, lumber and whatnot, they could be right. >> yeah, i mean, tim, you look at commodities it's a basket of commodities lumber is off a high still well up, almost every single thing is well up from are whe where it was 2 months ago. buy gold, inflationary protected securities and let it ride >> well, three things that i heard that i think are the most important parts. as relates to commodities he said ten years ago when we were getting into the kind of the worst of the speculation around commodities, commodity allocations were about 75 -- excuse me, 1.25 basis points of all equity allocations they are at the 75 bips now. if you just get back to the level we were ten years ago, it's a great, great trade. i think the other thing he was saying is he is concerned about

the central bank orthodoxy in other words, they are not willing to be reactive they are basically relying on a model. they are basically relying on a view that they are not going so have an inflation problem, and, look, i, you know, dan's right to say that we've struggled with deflation, if anything but we've never had fiscal policy booming on all fronts with monetary policy which has been booming for a long time so i think the risk is that the fed stays with the party too long and that's what today's interview was about. >> it's not just paul tudor jones. a sound bite from morgan stanley's ceo james gorman was just on with "closing bell" a few months ago jamie dimon as well. listen to what gorman had to say about inflation. >> and the question is when does the fed move it has to move at some point and i think the bias is more likely earlier than the current

doubts would suggest rather than later. that's what i expressed. i have no special wisdom, but my gut tells me this economy is recovering faster, inflation is moving quicker and it may not be quite as transitory as we all think. >> well, he does have a couple hundred highly paid analysts that have some knowledge i hope he has a special window into this. >> he does, except he went against those highly paid people a couple weeks ago he was about six months ahead of the people at morgan stanley by saying he saw a taper sometime at the end of this year. by the way, he saw a rate hike stienl the beginning of next year, six to nine months ahead of the economists at morgan stanley and that codied with the week prior morgan stanley naming two co-presidents. i don't know what he is auditioning for. he is clearly putting it out there for a reason and larry summers made comments and stan miller -- >> everybody has made comments about it i am not saying that they should do it. i think they should start

hinting to a taper and kind of give maybe better guidance about when rates normalize i remember when they started normalizing rates starting in '15, '16, '17, what did they have do in 2018? as soon as the ten-year treasury yield was above 10% things started freaking out because this happened over a period of time i think the idea we are not focused on when a double-dip recession may not happen in the not too distant future - >> is that a possibilities >> why not do you remember the obsession with double-dip recessions after the financial kri sis and that gave the fed some cover. this was a rolling financial crisis, right. we were coming out of it in '09, 2010, europe, then we were wor worried about growth in china. this goes back to the point is that we have had now 15 years of unusually easy fiscal and monetary -- no one knows how

it's gonna end, okay i suspect they start sooner like gorman said raising sooner than expected but it's gonna be slow, man. they learned that. >> add another voice to the conversation your first guest tonight has a big old message. don't make any big bets right now. let's bring in tony dwyer can accords chief market strategist. one of the things that paul tudor jones said this morning is he called the current environment -- this is a family friendly show, right bat guano crazy, right $18,000 invisible statues, homes selling for hundreds of thousands of dollars without being seen where are we investing right now? . >> you can't get a snowboard or a water craft in any area around the northeast because they are already sold out you are sold out into next year. there is just a shortage of -- a supply constraint is really

starting to come into play but back in, when we downgraded the market in mid-april, we saw a lot of risk from some of the most speculative areas the spacs were going nuts. you had commodities spiking higher the whole market was ripping especially the cyclicals a lot of those considers areas -- the interest rates were up to 177 and everybody was calling for 2% that was a time when you have a warning of the speculative excesses right now i am in karen's camp where you do no harm i am not giving this, oh, my god, warning this is a be neutral don't make a big bet on the market exposures for most of our clients, they don't take market, they take sector bets. we're pretty neutral until we get a better indication what the fed is looking like. >> let's say you have somebody watching and they say why? super broad baesed index bets risk averse.

do they -- you are saying don't add more to them do they sell them right now. >> we have been saying the last couple of months is to take profit in those areas that saw speculative success. that would have been the financials we did a relative downgrade of the banks in the financials in early marches because that's when rates peaked. people keep asking, what's the bond market telling us what are the various indices telling us what are the sectors telling us? sometimes they move and they discount some of the action that is to come and i think that was the wcase i early march. so, yes, i think you hold what you have we are still early in an economic market cycle. where i want to get, i am known as being bullish, where i want to attack the market is when you have periods of weakness and periods of correction versus chasing, you know, like we are in now. >> yeah, looking at a chart of the ten-year note. here is what is interesting is that the ten-year bond yield has

done nothing for three months. if anything, it is actually moved a little bit lower i mean, there is all these calls for 2% by the end of the year. unless we see a major change in bond investors' attitudes, we could have a lower ten-year yield to dan's point than we do right now. if we do or it stays where it is is that the all-clear, longer term, you are saying short-term, but longer term the all clear to stay in tech, to stay in high growth >> you are getting a bid on the lower bond yields just like bidding in the cyclicals on the higher bond yields when we talked about a peak in rates or a stall in rates it came because the ten-week rate of change on the ten-year note yield is a technical indicator got to a place that it had only been twice before. i think we highlighted this on the show anytime it's gotten to that point and peaked which it did in early march, the first week of march, you have seen at best a trading range in yields and

typically lower yields it tells you that some of that strong economic expectation was already price neighborhood tinto the ten-year note yield. we have corrected that now commodities are in a correction we are in a correction for the cyclicals. where i made a mistake is i expected this all of a sudden you get a hit to everything. but the way that the market is made up now, it's been more of a rolling five to 10% correction where every area is getting hit in its own time. like the transports recently based on its own individual -- >> you know, there is also -- i know they like to talk about the fomo trade, fear of missing out. there is also the train of thought among energy and other unloved sectors, right either you can't own them or you don't want to own them they are literally physically dirty, digging stuff out of ground type trades, but guess what those have been the trades that have been making money do you think there will be this

rush by fund managers and investors to show their clients that they own these things because the clients, they just want return. do you think that -- in other words, the upward momentum builds on the upward momentum as others say i better own that because i don't want my clients to know we haven't owned it? >> that's a tough one. now you have transports down about 6.5% from peak and you got the f.a.a.n.g. stocks making new highs, the nasdaq compensate on the back of the faangs stocks making new highs. what do you want to show you are saying that the commodities are down and the stocks related to the commodities. the transportation as i said home builders. thes economically sensitive areas that everybody was flooding into going into april and may are now pulling back dramatically here is the interesting thing. i would be happy to admit forget it, correction's over, there is no more worry, don't be defensive. but we are in a fundamental transition with an unclear fed

and that's showing up in the markets because we made two new record highs in the s&p 500 over the last three days and two of those days had more down volume than up volume there is just a lot of indigestion just like 2004 and like dan's 2010. after the great financial crisis you had an 81% ramp off the low and then went into a period of indy jenkins in the summer of 10 as you try to figure out what that great market environment and economic outlook, what it was going to mean -- to maybe a sooner than expected fed transition away from -- i guess it was qe1. >> we will see if it is the pause that refreshes or disappoints. we feel like we are in a slight pause right now. tony, a pleasure to have you on the program. karen fine man, wrap it up with a bow here do we think there is some trade to be made off of fomo or off of the idea that maybe that some of these things we have not liked

at all, they need to be bought, are you in tony's camp, let's sit back, get through the summer, see where earnings estimates are, see what the fed may do and kinda chill >> i am trying to be chill it's not really entirely my nature, but that's the way i'm positioned sitting back not making any rash moves with the vix. not making any big moves in the portfolio. i don't think the fed is doing anything right now >> yeah, i suppose it would be more interesting if somebody said panic and make rash moves never heard anybody say that is there a trade we need to be adjusting for as we look ahead to the fed wednesday or a little bit further out? >> i think there has been a number of these phases where we have had rolling calm rotations and you have seen that the nasdaq, tony said this, has outperformed the s&p by 4% in a month and he pointed out materials sold off we pointed out a lot of commodity price are down from their highs.

if you look at first earnings revisions upward from q 1 earnings, energy up, banks up. so those three sectors are the most interesting because of their earnings profile as much as anything and they are inflation hedges and they sold off a bit. so i think those are the trades right now. >> if you think about tony's call in april, although the s&p hasn't cooperated a lot of the underlying things have absolutely done what he thought. the home builders as stan talked about. that's off 12% in the last two weeks or so. you have seen the corrections. it hasn't manifested itself for whatever reason in the broader market my sense is it's going to rather soon. >> i will give you a preview to tomorrow's rbi tune in the hard way it has to do with a big drop in commodities. on deck tonight, some big news out of microstrategy just hitting the tape what is the news i don't know

we're going to find out in the commercial break and bring it to you. and later, oh, hitting the skids again. one trader says the damage should be even worse we will find out why and just what is next for the beaten down ev name. more "fast money" in two 's on the 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.

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there is breaking news on micro strategies get to frank holland with the details. >> shares of microstrategy down about a percent and a half as they file for a potential stock offering the company saying that stock offering would in part be used to purchase bitcoin. the proceeds of that will be used in part to purchase bitcoin. however, the company said that it's not clear how much of those proceeds would be used for any particular purchase, including the acquisition of bitcoin bitcoin up about 7% right now. still down about 20% over the last month and again the company says that management would have discretion over what percentage of the proceeds of the stock offering would be used to acquire bitcoin. shares down just about 1.5% down. >> thank you. all right. so just to wrap this up, this is -- we were talking about this on the commercial break. you may have heard about

microstrategy raising money this morning to buy bitcoin that was a bond sale 2028 notes due this is an equity offering so effectively michael sailor, your buddy, and microstrategy doing two raises one debt, one equity, to buy bitcoin in the same day. >> yes listen, if you watch him, if you listen to him, you go to sailor education, he is full all in on this nd he is not looking at the price of micro strategies a year from now he is in this for the next 10, 15, 20 years he speaks how crypto market cap now $2 trillion, should be easily north of gold's 10 trillion if not $50 trillion at some point he can wax po tet i can. he is in in terms of convert am what he thought was a failed balance sheet what they consider an asset with other 100,000 bitcoin on their balance sheet

if you believe in crypto, you almost have to believe in microstrategy. >> the market cap of crypto now is 1.3 trillion, okay? >> okay. >> this is important because i heard michael say this, is that you have never seen an asset class -- talking about bitcoin in particular -- when it was $1 trillion. get to a trillion and go away. so i'd buy a lot of what their thought process is on that i'll just say this about bitcoin. they announced that bond deal last year. that was -- or last week that was microstrategy bitcoin was trading 32,000 last week and contending with some of the lows from earlier in may when it really looked precarious after a high of 64-5 you have this news elon musk saying they might accept bitcoin for purchases, i think one person bought a car with bitcoin i don't know why that is particularly important but if it fails here at 40,000 and can't make any progress just technically and our friend carter braxton worth said this

over the last couple of weeks, it will be contending with 30,000 again if it gets to 30,000, you know what the level is. it was the 20,000 breakout from december 2020. so there is some air pockets there. >> we like high conviction calls. and michael sailor is maybe the most convicted of anybody out there. but he is running a public company. they are a software company. so now they are becoming a bitcoin-owning software company. i know you are probably not a huge holder of microstrategy but from a strategy point of view, would you be happy if a company you owned, the ceo of a restaurant chain decided they are going to start buying gold that's effectively what they are doing here it's not their business. it's just a balance sheet holding. >> no. yeah it's a balance sheet holding, right. so i wouldn't be a fan except for he has stated very, very clearly what his intention is. so if you are a holder of microstrategy and, you know, you're shocked by this $1

billion offering and they might use some of the proceeds for bitcoin, that's on you because he has been quite clear about it for me i'm -- i wouldn't do it through this -- you could do it through this equity, though it would be correlated highly for me i'd rather, if you want to own bitcoin, i'd rather own bitcoin. he told you -- there is no sleight of hand here, he has been forward about it. i give him that. you know, i think he's been right so far >> yeah. and to dan's point, watch the price of bitcoin because now that's going to be impactful for the price of mstr, microstrategy. big head loins there we are just getting started on "fast money. here's what's coming up next >> large town mgm and old autos, oh my. the desk is kicking the tires on three big car industry headlines and bringing you the trades. and later, we're gazing into our crystal ball to see what the

future has in store for oracle earnings we've got that and a lot more when "fast money" returns. it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. get ready for it all with an advanced network and managed services from comcast business. and get cybersecurity solutions that let you see everything on your network. plus an expert team looking ahead 24/7 to help prevent threats.

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and live a life rich in meaning, and gratitude. to learn more, text thrive to 444555, or visit thrivent.com. mark your calendars. the cnbc global summit is coming up this wednesday. a great lineup instel dre pat gelsinger, albert bourla and carnival's arnold donald register now at cnbc events.com/evolve. all right. it has been a huge day for headlines in the auto industry three major developments across a number of companies.

phil lebeau with all of the latest news. >> let's start offer with lordstown motors this was the stock of the day to watch within the auto industry, down at one point more than 20%. now you see down 18.8% once again trading under $10 a share. the ceo, cfo gone. ceo steve burns is completely out of the company he has left the board of directors. and this leaves the question, what is the outlook for lordstown motors near term and further out a couple of huge issues. near term, they are looking for a ceo. they have also got a secure capital. remember last week they issued an s.e.c. filing that they may have trouble be a going concern. longer term, further out at least by the end of the third quarter, they plan to start production of the endurance pickup truck do they have the money to grow production not enough to say we started production by the end of september. you have to continue building and grow your volumes from there. so as you look at lordstown motors, remember that all of

this started with hindenburg research saying a lot of what they were saying or promising was complete malarkey. lordstown said it did their own probe, largely found most of the claims false with the exception of the claims about preorders. they admitted, yeah, there was some inaccuracies there and some of the preorder statements tied to steve burns in the past we interviewed about that. that's the lordstown story general motors, remember, lordstown motors has the old gm plant in lordstown, oakshio. saying that it's not changing its holding. it's still holding them. had no comment on the change in leadership at lordstown. gm held their annual meeting today virtually. the ceo said a couple of things. one, no change in the plans with the dividend it is suspended. they may have news later this year also with regard to the

semiconductor chip shortage, the situation is gradually improving. we heard this from general manager a couple of times the last month, they will be increasing production where they have they have done a better job than other automakers in terms of managing that situation. finally, let's talk about the age of vehicles on the road in the united states. i love this chart. this comes to us from ihs marshall f market. they track all of the registrations, 270 million in the united states of all of the vehicles that are in operation guess what the average age is now at a record high 12.1 years and it's easy to see why, brian. people are hanging on to their cars longer. record high prices for new vehicles, record high prices for used vehicles. people saying i will drive what i got a little bit longer. shares of auto zone, the reason we are showing this to you, people in this country holding their vehicles longer, brian one out of every four is at least 16 years old think about that 70 million vehicles in the

country are at least 16 years old. that is the stat of the day. brian, back to you. >> wow, really is. i guess you pay 6 # grand for a pickup truck, you are going to drive that thing. time now for a session of traders choice tim seymour, three headlines, th three-story lines. which one do you like and which one do you want to trade tim? all right. we are going to get tim back on. karen finerman, you can hear me, i presume. if not, i'll just yell louder. which headlines do you like, which ones do you want to trade? >> i mean, i would -- i don't know if trade -- fade it, i guess? lordstown. i actually thought the stock hung in there like a champ because given that news, which was awful, awful, think about the news that we have had. one, they are going to run out of cash.

two, the ongoing concern, which is clearly as a result of their potentially running out of cash so they announced that that, in itself, wasn't that terrible but the ceo leaving. the cfo leaving. and the company saying, yeah, they really did -- were inaccurate in their vipdescript of the orders. the orders aren't there, the ceo isn't there, the cfo isn't there. i didn't see whether they could sell their stock or not or whether they want to i don't know but they are going to have production problems. they are going to have cash problems, management problems. >> and if you were trying to negotiate for a strategic partner, which they must be desperately, they have no cards to play. all those reasons, i can't believe the stock hung in this well i would not be long. >> yeah. kind of amazing. i will let you pick another story if you want. the stock is up 26%. we may run out of money, we fudged the number on actual

sales and booted our top two executives and to karen's point, the stock is holding up. is that the one you want - >> i have an explanation i think a year ago aim nous, down 50% in this environment where it's so hard to make money on the short side and so meany people ungoing against shorts, i think people took the money and ran. i think it's the environment that we find ourselves in in i don't think it necessarily has anything to do with lordstown and more so the environment that we are in now it. >> tim, traders choice to you. >> good to be back nothing worse than being on national cable tv and knowing you are going to be asked a question and loose your ifb. so, look, gm to me is the story of the day this is a case where think about where mary bera is from pandemic of, you know, june 2020 where they just had a six-week strike at gm, they had major pandemic issues this year they are going to sell more ev cars globally than tesla

or volkswagen. they are going to have average price up 6.5%. they are going to possibly have better results even than they guided in the last earnings report for investors the story of gm is one where the multiple is probably moving higher also they had pricing pow per. company has never been run better plenty of exposure to ev and lordstown and nikola aside, they are doing just fine. gm is the story. >> tim, thank you very much. coming up, breakout the burrito bowls. why one analyst says that rising prices at chipotle may actually help rise the stock. and later they've got moves like crypto maroon 5 the latest act to jump on the digital currency train. how one band member hopes it helps them reach out better to their band jesse carmichael of the band will join us on "fast money" coming up.

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all right. welcome back to "fast money. getting hungry probably are shares of chip oat lay high. as most restaurant stocks fell

raymond james boosting to a strong buy and slapping an $1,800 price target on the stock. that's about 30% upside and get this the analyst says higher costs could lead to higher prices and higher stock price it is your call of the day guy, your take >> i agree pass it on to the consumer the consumer is happy to go. it will be a great harvard business review story in years about the turnaround it will be a valuation problem at that price. they managed to grow they have the earnings growth to back it up i am not sure about 1,800 but i think it takes out the 1,500 recent all-time high. >> the restaurant stocks have been red hot red robin gourmet burger, blooming brands, the onion out there. but we talked. the best performing of all the names, pot pelli. >> of course who doesn't love a pot belly. >> you went to mcdonald's today

and you got a spicy chicken and you are still paying for it as we speak, brian? >> that was not commentary for television yes. but by the way, it's delicious. >> we are paying for it, but whatever. >> why do i commute into the city took me like 3 1/2 hours to get here by car. i left yesterday morning to get here for the show. all right. coming up, figuring out the future for oracle. we are diving into the stock as the company gears up to report earnings tomorrow how the options traders are playing that one. plus, all this cryptotalk is making it harder and harder to breathe. maroon 5's jesse carmichael joining us in a few minutes to talk about the band's album and a crypto push, something you can get involved in as well. do not go anywhere "fast money," just as good as that chicken sandwich, is back a ri right after this >> announcer: catch us on the

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oracle's future. earnings out tomorrow night. if you remember, we brought you an early look ahead of the tape

last week. let's check back in with mike with the current setup mike, what is catching your eye? >> so taking a look at oracle options today, one of the things we saw was 2.5 times the average daily put volume trading the options market is implying a move of 5% or so by the end of the week that's pretty much in line with how much oracle has historically moved. the most active put options the june 78.5 puts expired this coming friday, close to 5,000 traded for over 56 cents a piece. buyers are betting that the earnings may be disappointing, that the stock could fall below that 78.5 stock price. that would be slightly more than the implied move we are seeing in the options market right now. >> thank you very much. let's trade this stock's red hot. up 36% in six months, triple q thoughts on oracle >> that's the main point triple the performance in the

nasdaq, triple q a lot of money out of high growth, sasse names and other names in the cloud.as names and names in the cloud i give you - >> oh -- >> i didn't mean your age, early 60s. i meant since the stock was in the low 60s. i think it's a cenvalue trap i am not sure you will get the fiscal year 2022 guidance to keep its way to 100. >> tim, do you have a point on oracle we don't talk about databases anymore. >> their cloud business is strong it's probably the best three-month history in the perfor performance much the stock ever. expectations are in constant currency up 3 to 5%. i think the bar is reasonable ily high this was the o in his hope trade. i don't remember what my acronym trade was and i think he has

been crushing it ever since. so nice job. >>and oracle tomorrow night. for more "options action," be sure to tune in friday 5:30 p.m. eastern time. all right. coming up, maroon 5's jesse carmichael joining us to talk about the band's album and first of a kind crypto component and a way you can get involved you don't want to miss that sk interview. it's coming up when "fast money" returns. >> announcer: "options action" is sponsored by think or swim by is sponsored by think or swim by td ameritrade. ♪ ♪ ♪

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♪ what's jim up to a little sneak peek at the cramer cam he is talking with the ceo of american express that's a big one that full interview at the top of the hour on "mad money. all right. nfts, non-fungible tokens, have taken the world and music world by storm the kings of lyon and crimes, and now one of the hottest bands on the planet for a decade is diving into the space. maroon 5 released their new album "jordi" with an nft component called a dao

ye yellow heart making it happen. what is a dao and how are they changing the music landscape let's bring in maroon 5's jesse carmichael as well as yellow heart's josh katz. jesse, a pleasure to have you on cnbc you got the new album. you got the component. i mean, nfts for dummies, tell us exactly what this is, what it does, and why you're doing it. >> i think of it like a new form of a unique art project that gives people something that's totally theirs in our case, we wanted to try to push the envelope a little bit away from just a digital piece of art and go into something that was a little more like a community because the whole ethos of this decentralized space is that it's totally transparent. people can see all of the workings so we thought about putting together a charitable dao, which is place where people can buy an nft which gives them access to the dao and then it allows them

to vote on charitable organizations that we put up for consideration and people can say yes or no to a project that we submit to the community. so it's sort of a big charitable trust. >> josh, welcome as well the dao, and i am not going to pretend i am an expert in this decentralized autonomous organization, dao, nft, there is a lot ove lot a acronyms. if somebody bedids on this, wha exactly do they get? is it a sort of a limited edition set? it stands for decentralized autonomous organization. these run tier-to-tier software

which empower a non-hierarchal voting system. they allow for community governance over funding mechanisms in this case, when any fanwant to join the community, it's a minimum $25 and they are able to enter the community and the band will float proemsel pro proposa the community which require majority voting on the proposals and allow for those proposals to fund the charitable organizations both environmental and social impact that the band brings to the community. >> jesse, tim seymour. maroon 5 is one of the most extraordinary things about your and your band's extraordinary career is that you embraced different trends in the music industry at different times. so in the physical appearance period, you guys crushed it. in streaming you guys have crushed it now in digital you guys are moving where the industry, you are certainly ahead of the industry talk about this empowering of your fans, especially around

charitable causes, and why doing well can also be doing good or doing good could be doing well as it relates to the wandband touching their fans and make a stronger fan base out of it. >> that's right. we have always had a strong connection with our fans we started back in the day where we had to collect email addresses with pen and paper to send out invites to our shows. you're right we have respond a lot of technical movements. and this new one is very exciting for us because it allows our fans to be involved with our passion, which at the start of this living d.a.o. is going to be focused on climate change related charities and another new technology that's a part of this is the fact that the digital artwork that people buy into will be changing over time linked to a carbon index and so the carbon number goes down potentially in the future thanks to all of our activism on the planet, we can see more flowers on the art work. if the carbon number is going

up, we will see more mushrooms, which as a side note is a very promising realm for reversing climate change problems on the planet >> jesse, to change gears, when is the next maroon 5 live tour have you guys planned it out when is it happening >> it's on the books find out more at maroon 5.com starting august 10th here in the states >> all right looking forward to live music. dan, you have seen some as well lately a cool thing you guys are doing. yellow heart, check it out josh katz, jezero crater, thank you. good luck. let us know how it goes. cure areas about this new technology up next, your, not ours, your you know? alright, okay. how's that? is that how you hold a mirror? [ding]

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♪ kind of appropriate right after having jesse carmichael, show the hard rock, right? >> yeah, look, you went for prom, dinner >> in 1948, my prom was right after world war ii, it was wonderful. >> big band. >> tim seymour has played the hard rock across the street.

on a number of different occasions? >> remember you had to buy the shirt? like hard rock orlando you went to sydney, bought the shirt from a friend from australia. time for the final trade let's go around the horn tim, your final trade and favorite hard rock >> yeah, well, real bands. congrats, maroon 5 and yellow heart. electronic arts. despite the hack, it's about to break out to all-time highs with a great pipeline ea. it's in the game >> there you go. karen? yeah, fedex has come down about almost 8%. some on the heels of that u.p.s. investor day i like it. e-commerce here to stay. fedex. >> yes, spotify down from 387 in february, trading 2350 f50 a straight shot to 300 spotify. >> great shot. >> thanks for joining us mcdonald's notwithstanding birt

birthday shout-out for the original crypto king. >> bryan kelly happy buddy, we miss you. >> 50 today. >> blackstone continues to go higher. >> nice. all right. we will do an nft for a hard rock cafe my miegs mission is simple to make you money. "mad money"ssion is simple to me you money. "mad money" starts now o hey, i'm cramer. welcome to "mad money. welcome to cramerica my job is to educate and teach you so-call me at 1-800-743-cnbc or tweet me