fan. we're surprised that the islanders pulled it out last night. >> 100%. >> a shocking win. now what chance do you give them in tampa to win? >> 20%. >> you heard it first here twitter, day two, mel. >> thanks for watching "fast money. stay right there my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends, i'm just trying to make money. my job is not just to have fun but to educate you and teach you. tweet me @jimcramer.

the word would be jail break bursting from brick walls. advancing sector after sector. dow surge 3g 23 points s&p jumping 25%. nasdaq, wow, new record plus 6.9. s&p record nasdaq new record. whew as soon as you do that maybe you can't judge a book by its cover, okay? but you can actually judge a market by what's up the most and right now this market's screaming that everything is working. not one sector, not another, everything if i call it a jail break, pretty much everyone had news today. instead of the usual i win, you lose which is the devil of the action play. let me pick out one particular moment, one glorious particular moment in today's session was the second when president biden said we have a surprise infrastructure bill. bipartisan congress. you know what i mean

that will demonstrate it let's go to work i need -- hey, look, i'm a stock whisperer. what was up the most that's enough with the role playing. number one, eli lilly. today they gave fast track to lilly's alzheimer's drug we heard lots of grumbling after biogen got fda approval for the more controversial alzheimer's treatment. they predicted this. then we got some discouragingly data the stock got pulverized lily's now up more than 50 bucks, 5-0 from its lows including a monster $15.87 today on the news. this tells me that the fda will be fast tracking many more drugs. it's a brand-new effort, man you can pay more for the entire pharmaceutical industry right here right now it's a fantastic fact. the fda has gotten easier.

second biggest winner, tesla yeah, a market led by tesla is a winning market big growth is back the stock has been in the dog house ever since the spike in the s&p 500 this year. now tesla's on the move again. i can see a long runway here because it looks like the competitors still aren't ready for primetime goes higher. watch. it will start a little bit in the morning. be up to 330 walking you through it to myself. i like to do the show to myself when i work out. next up, united rentals and c caterc cater caterpillar. wall street had given up but when you get nearly 580 billion in new spending, that gives the industry a huge boost. united rentals, that's a fantastic business as for caterpillar, ceo is running a company with incredible discipline. no compromises he's the first cat ceo who speaks of the shareholders in the same breath as the dealers and customers. the higher steel prices that everybody is worried about

will you give me a break they can pass off the cost to the customers. here's an insane one it speaks to how broad this rally is darden think about olive garden i thought restaurants were supposed to have inflation problems, labor shortage headaches. this is when everything is supposed to be so bad. it looks like what we have is a last-man standing scenario that's my take away from garden squared. it's the new champion by default. olive garden is back to even with 2019 pre-pandemic levels. that's amazing steek house was up 13% versus 2019 to me this link of the chain was the lay-up of the lineup that even ben simmons could make. my longhorn has great service by the way, an absolutely killer bloody mary. i am not kidding pretty decent steaks and taters. even my critical wife left a big

at this point. 28%. why not? sixth biggest winner at the time of biden's speech. when the federal government passes an infrastructure package, vulcum came on. seven. you've got to love a market where align technologies is near the top. this is the company behind invisaline braces. where the heck are those challengers? have you seen them i haven't. honestly i could be getting fitted for these and i had braces once. you know what's good for them, demasking. demasking. clever eighth, how much do i love seeing wells fargo on this list? ah, top ten. tonight we have the results of the government's stress test how the gold banks pass. on monday they will be able to

capital return the best run will be wells fargo, charlie sharp this one has the most to gain. if they get the green light they can do a huge buy back, repurchasing 13% of the company. wells absolutely deserves the spot in the top ten. we need a bank in there to round the group out. this is the biggest winner you can follow my charitable trust by following the action alerts.com club. then there are the last two. the two that confirmed this was a market wide jail break qorvo and skyworks solutions for weeks now this market has lacked semi leadership with the exception of nvidia. did you know nvidia is the second yesterday i took it as a sign of strength. i wanted qorvo and skyworks. they're cell phone chip makers

without them you won't see them rally beyond faang the second a, not the first one. apple is going to react to -- the stock of apple katie raised the price target. she's signaling buy apple. buy apple. so what have we got here we've got drug, we've got high growth, tech, infrastructure, dining, bank, cell phone chips ohh-la-la. the definition of an opportunity in a wide, good breadth market what makes this list so important? simple for months this has been zero sum. either the boom or bust cyclicals. oh, it's a value market. it's really just a growth market who are those people occasionally it's been a market led by oil which is bad for pretty much everybody. these rallies weren't jail breaks, they were suggestive pro lease through the bear house we had given up on the federal government doing anything else

to bolster the economy beyond the latest covid stimulus package. all that's left will be a bound at this full childhood package target, walmart, which is really awful. charitable trust american eagle outfitters and then costco which is just through the moon that now means it's pump and dump or something. beyond that, it looked like we weren't getting anymore help from the feds but today's infrastructure news makes you feel like maybe our government can govern that alone is a major price journey. we've gotten so used to partisan rancor i've given up on the federal government giving us any good news other than, well, i don't know, that stimulus package. that seemed to be it today we get a benefecent fda. earlier this week i said we were in a benign moment little news. lots of time on our hands to

wait for the next big and a time of tremendous opportunity. i use the word ten times, opportunity. we only react to the fed including friday's comments from a non-voting fed official. how many times can you sell stocks because of rising trade costs. really does everything have to come down because of the supply chain issues it's too good a time, people, to consider everything to be so negative you've got to stop with the fed finally out of the picture for a few days we finally get a huge catalyst in the form of this infrastructure bill i will not be bearish. tomorrow is a russell rebalance. we don't know what's going to happen it could be terrible like a similar rebalancing from last week. we know that some money will have to come out of a bunch of pump and dump meme stocks. could cause a decline. right now any decline will be bought because this is a positive opportunistic moment, people there are many who want to put their money to work. by the way, doesn't hurt that

dow stock and nike reported a great number the bulls are still in charge whether it's a new drug that's a blockbuster, challenge banker, i'll take it all mike in wisconsin. mike. >> caller: hey, jim cramer in wherever you are okay here's my quick question they told me to make it quick. >> okay. sometimes they're like that in their phone room they can be very curt with people actually, they're like the nicest people in the world and they brought my good fruit and three oatmeal raisin cookies. >> caller: fwil lee add. i paid $90 a share eight years ago. it went up two years later to 120 and now it's been maintaining around $68 a share what am i going to do? am i -- >> mike, i don't like gilead i have like a million stocks i like maybe 1.6 million but i just

don't like gilead. i've got to tell you, mike, mike, mike, it's just not one that the chill man wants you to be in. i'm going to mispronounce this name you have to deal with my mayor accent purre in new york, puerto vallarta urre. >> caller: how you doing, jim? thanks for the long hours and the hard work. >> tomorrow 3:15 the alarm goes because i like to be up earlier than the people from the yolo fit. what are they betting on rain drops go ahead >> caller: i'm asking about -- thinking about barrett gold. >> you're thinking right i like gold as a hedge i like ethereum as a hedge if you're going to own one you should own barrick because mark is real smart. listen to me any decline will be bought in

this opportunistic moment and today's jail break shows you their buying power have you ever seen a more diversified portfolio than this one? could an investment in grand isle tours be what you're looking for? then two on center epic showdown over the fate of -- tease. i won't tell you as workers head back to the office post pandemic could the stock of starbucks see a jolt i'll talk to the ceo so stay with cramer! don't miss a second of "mad money. follow @jimcramer on twitter have a question, tweet cramer #madtweets send jim an email to madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss setngomhi head to madmoney.cnbc.com.

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now that the world is going back to normal, what do we do with the great outdoor stocks? like the rv and motor home plays. the great outdoors has all sorts of outdoor consumer products, grilling, and they sell a great deal of ammunition no surprise that the stock has doubled. look, that's a major source of the story. there's no doubt about it. really it's only part of it. right now vista outdoor is firing on all cylinders. the most recent quarter was spectacular. last month they held an

incredibly bullish investor day. it sent the stock into the stratosphere this is only 12 times earnings i think it's worth examining at the 52-week high let's check in with the ceo of vista outdoor. mr. metz, welcome back in to "mad money." >> great glad to be back on great to hear your voice. >> thank you, chris. i'm torn about your stock. had there not been so many new entrants into hunting, extraordinary amount of hunting lie accepts -- licenses, this i the equivalent of dick's or cabela's the fact is you have so many people who want ammunition that it can tend to overwhelm the rest of the company. >> it's -- hey, jim, no question about it you know, the secret within our company, it's not a secret

because it's all public. the outdoor products had a great year up 25% on the top line and the demand continues we can't fill out of the demand that sits there in the marketplace today so as much as our shooting sports and ammunition business continues to grow and it's fuelled by the remington acquisition we made last year but our outdoor products business whether it be cooking, or biking, or golfing, any of the products that we produce, we can't produce enough of them. >> now we've had a couple companies on that are outdoor companies. i'll give you two. thorn brunswick. i happen to love both of their products somehow people decided their products are going to be too cyclical and not do well the fact is you sell a lot of things that aren't that expensive but are of the highest quality. it's the mosaic that your stock keeps roaring where others have stalled? >> jim, i think that's part of

it, right? i think there's part of it that we play in cyclicality but we're also counter cyclical stocks you think about if we were to go into a recessionary period or what have you, people can afford our products versus buying an rv or a boat or what have you but a lot of what drives our success recently is the new product innovation i could go through a litany of products we've introduced that are industry first products. i mentioned the wingman in golf. we're introducing a different version of that for the rugged outdoor industry we've got all sorts of innovation in zero with a new motor cross moto helmet. we sold out all of our product within a few minutes of introducing it it's really new product innovation and, frankly, our efforts online to collect with the millennials and the younger generation buying our products

for the first time is driving a lot of sales that i think other companies may not be capturing >> also, chris, i would tell you and look at your mosaic, you have a bunch of companies whose brands are actually bigger than their sales. for instance, i look at camelback and then i look at yeti frankly, i like the camelback brand name every bit as yeti it keeps growing i have your bike helmets they mean safety to me i think of that as being a safety product i'd like to see other safety products with that brand you say you're active in m&a could you take other products and run them through those fabulous brand names and really expand them? >> we certainly can, jim acquisitions is going to be a big part of our value proposition going forward. we've closed on our fourth acquisition in the last six months we're generating 3 to 400 million in cash flow we're in the mid to high teens

in ebitda margin and the conversion of ebitda to cash is important. the platform brands we have, i walked in 3 1/2 years ago and really enabled our people to do what they do best. and so we're just starting to get momentum to your point, as much as our stock has grown and we're appreciative for that, i think we're just in the beginning innings of this. everything that i can see what we're capable of doing with these brands we haven't unleashed the full power of it yet. we're going to continue to look to do tucking acquisitions for these great brands we'll explore categories with the quiet cat where we licensed the jeep brand exclusively we're in a category of ebikes which is the fastest category of the entire outdoor space we want to leverage our great brands but we want to add more great brands to the stable of enviable brands we have today. >> how important, last question,

should we be thinking about federal contracts for ammo because i'm sure there are some people who say, you know what, the reason i'm afraid to buy the stock, that contract could go away to somebody else. >> oh, goodness gashracious, ji that's the reason to buy us. we own 80% of the volume we knock down more contracts on a federal basis than any of our competitors. that gives us a little bit of stability in top line. when you have the best relationships from a commercial standpoint, which we do, and why we're leaders, i think it only adds to the story of why to buy vista. it doesn't detract in them any way. >> that's terrific we're behind your stock and i think 12 times earnings we have to not just pound the table.% again, you've done a terrific job. chris metz, ceo of vista outdoor. >> thank you, jim. when people tell me there are no inexpensive stocks, i'm going to say have you looked at vista outdoor?

"mad money" is back. coming up, can this new age motor stock help you achieve carvana? cramer takes the wheel next. you ready? are you... -ready? ready. ♪ is you ready ♪ you ready? ♪ you say you ready ♪ ready! no. no, no, no, no, no. i don't wanna die. get the hand break for me would you darling? ♪ is you ready ♪ ♪ are you ready ♪ ♪ is you ready ♪ yes!

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how about we get a better. and what's driving that inflation which brings us to used cars. when we get a blazing hot consumer price index up 4.2%, do you know roughly 1/3 of that came from used cars and trucks we know exactly where that's coming from. right now americans have a voracious attitude part of the big exodus is why i liked the stock so much. because of the semiconductor shortage, the automakershaven' been able to ramp up

there's a vehicle shortage with used cars and trucks making up the difference they'll buy it used but there are signs that the dynamic could be changing and this is important. my sources in the industry and they're darn good have told me that the chip shortage is beginning to abate, which is good news for the automakers i am telling you, i have a beat on this. then we've got the mid june readout called the man heim used vehicle value index. that shows some stabilization and derives it dramatically. stabilizes is often a precursor for going down all of this came to a head when carvana, the web-based used car retailer and the biggest beneficiary got hit with a pair of duelling analyst reports. here's a stock that has surged from $22 at the lows last week during the depths of the covid crash all the way to 315 at its

highs yesterday before pull back to 304 today you could make so much money from selling this. drives me crazy. listen, you know, you can never make money in anything on the index fund look at the carvana. from here on out, i think it might be different if you think the business looks good, it's there if you think used car prices could come down, maybe it's not. which brings me to these duelling analyst reports first jpmorgan downgraded carvana. they kept their price target unchanged. then jeffries reiterated buy rating and then raised the price target from 375 to 400. i like this to understand the way stocks work. whenever we get a pair of contrasting calls about a single stock, i like it especially when business is important to the broader market.

right now used cars are very important. before we pit these analysts against each other in a steel cage death match, let me give you information. i've been pounding the table on carvana for the last 13 months ever since i realized the whole auto industry would get a huge boost from the pandemic. this company's always been a fabulous grower. they had 104% revenue growth while they're still losing money, the margins have been improving. they lose money to dominate. i'm game with that this is an incredibly well-run company. of course when the hyper growth stocks were selling off, carvana did tumble from 323 to 220 in a matter of months ever since the whole group bottomed, more on that later, this thing has been skyrocketing now what about yesterday's duelling analyst reports why don't we just start with the bears. the downgrade from jpmorgan. in fairness, as downgrades go, this isn't particularly

negative carvana is within 20 points. these analysts decided to declare victory. they think the up side is going to be more limiting going forward. that's good analytical judgment. why did they say it's going to be more limited? some of that is simply due to the law. jpmorgan also had some thoughts on the state of the used market. it's the growth profit how much carvana keeps from the average used car sale. as they see it, the numbers are already peaking. they run channel checks with other used car retailers and what they're seeing is an increasingly competitive market. they also talk about how used car prices tend to ease in the second half of the year. given how much carvana is run, you can understand why the analysts are feeling less bullish. on the same day, jeffrey comes in and raises price targets. part of a broader sector they're much more sang win about the state of the used car business we believe higher pricing is

being driven by tight supply across the used car industry combined with strong demand. our analysis implies there's roughly $3,300 in up side to vehicle pricing end quote which translates into higher than expected earnings. i question that but reasonable people can disagree. plus, carvana's a digital used car retailer everything is done over the internet jeffries points out the web traffic was up 126%. those percentages should slow going forward, this has a strong correlation with the number of used vehicles carvana sells. who's right? i'm actually leaning towards these guys i'm very bullish, but i'm leaning towards jpmorgan's suddenly more bearish perspective in part because it seems more forward looking than the more bullish analysis from jeffries while jeffries has data with the current quarter. i like that. we knew the numbers would be fabulous a decent chunk is already baked

in given the run when you look closely at the jefferies numbers are bet jaer than april and may and june. that jives with what i heard from the rest of the industry. don't get me wrong i think carvana's a great long-term story and i never recommend shorting the stock, but if you owned it for this terrific run, agree with jpmorgan and take some off the table as used car sales are showing signs of slowing in price increases. think of it like this, in a market that suddenly loves the hyper growth stocks again, do you really want to own the hyper growth stock that's tied to inflation and the failure of the semiconductor industry to make enough full featured chips when they're starting to mick a lot of them? the bottom line, carvana is roaring back this is the rare name that is hostage. i love carvana used it. thought it was great but if another analyst comes out and says, you know what, used cars are weakening in price or may

weaken in price, i think you can get the stock a heck of a lot cheaper. let's go to connie in washington please, connie >> boo-yah, jim. greetings from beautiful washington i'm a first-time caller and long-time listener and a member of the actions alert plus. >> thank you for being a member of the club. thank you. how can i help >> caller: you're welcome. with shopify heading into the annual developer's conference and the recent run you will hitting an all-time high, do you recommend adding to my current position, holding or selling >> i think it goes up, connie. i think that meeting is going to be bullish the numbers coming out of shopify are just insanely good i think you've got a great one, connie action alerts, we sold it too soon thank you for being a member of the club and shopify i think goes higher. carvana's coming right back, but i think this company is a little

more host stage to the border economy and the semiconductor industry if you've owned it for this amazing run, nobody would get angry if you took some money off the table. starbucks welcomes more customers back after a year of isolation. i'll find out if people are itching for a coffee break when i sit down with the ceo. there's a lot of revelations coming what triggered the toward rotation what most didn't see coming later in the show all of your cars and rapid fire if i can talk correctly, the lightning. stay with cramer

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the world and it is fantastic. and so we expect this is just going to continue to unfold in a positive way as more and more people on the planet get vaccinated and starbucks is here to serve and our partners are rising to the occasion customers want to be part of a community again and come back to the familiar experiences they had pre-pandemic and we're open and we're ready for business. >> as more and more areas get vaccinated, do we actually see better same-store sales, better than even 2019 >> yeah, we do, jim. in fact, we've studied this. here's what is unfolding in markets around the world we saw this in the united states as soon as we got to between 35 and 40% of adults vaccinated, the government started to ease

restrictions and it was immediate. consumer mobility shot through the roof and so we started seeing traffic increasing in our stores and certainly, you know, we shared even last quarter that we were having a positive two-year comp, comp ast happening in mexico we're starting to see that happen in europe it's unfolding every market around the world is going to see exactly what the united states has experienced here over the last 90 days. >> look, the press tries to put a negative spin on there's a cup shortage you've got reusable cups which are great for the planet and maybe that will help you with the paper cup issue. where are we really in this cup shortage >> jim, there's no cup shortage at starbucks i don't know how that story got started but we've got plenty of our hot cups and our cold cups and as you said, we just

reintroduced reusable cups that we had paused during the pandemic for safety reasons. customers are back in our stores, demand is strong and we've got plenty of cups to serve them. >> kevin, i was speaking to a couple of ceos in retail they all expressed a point that it's become really hard to work in retail because people have gotten angry, people are on edge, people are like vax, no vax. are your barristas, associates having a lot of churn? are they leaving or staying? >> candidly, the retention that we've had with our green apron partners at starbucks has increased. >> wow. >> the reason retention has increased is, i believe, we took care of our partners through the pandemic we did no involuntary layoffs or furloughs. we did all of our partners economic certainty we leaned into this and gave a significant wage increase at the beginning of this calendar year. we're preparing to do another one. look, we don't take for granted

how hard these jobs are but i tell you, i am so proud of my starbucks partners in stores they have risen to the occasion. we're going to continue to take care of them. >> let's shoot down another kinard there's an inability of being creative have you stopped being creative in your drinks >> if you look at the demand for some of our newest beverage platforms we've introduced, we're seeing phenomenal customer reception to those new beverages. i think you just take the shake and ice espresso beverages where we've launched here in the last few months phenomenal reception by customers. so, you know, we're pretty excited. we see customers more and more customizing and creating their own beveraging because we're in the business of hand crafted beverages, personalized for each and every customer, i think there's a tremendous amount of innovation that has come to starbucks and our customers are part of. >> how are we doing in through put. we don't like the long lines

through the airport. we don't want long lines anywhere there's open space in retail can we get more starbucks so we wait less? >> jim, we're going through trade area transformation, which means we are in the process of repositioning about 600 stores in the united states and we're well into that you know, in many cases that means where we've got a store that maybe could be relocated to better serve the community of customers, we've made those moves. so that is creating more opportunity for us to serve customers. it's enabling us to elevate the customer experience. you know, but that said, the volume of customers coming into our stores is a record >> wow. >> so, you know, we are doing everything we can to ensure we are serving those customers in a timely fashion certainly, you know, drive through, mobile order, but now with our cafes open, customers are in the stores and they're loving it. >> i've just got to get back to this there are no shortages within the supply chain of starbucks?

i don't want to think the press is completely wrong. any shortage >> no shortage of cups no shortage of coffee. our supply chain in our breakfast sandwiches and some items in the bakery case, they have had to ramp up staffing so we've had some shortages in the bakery case, that is certainly true you look at what we've done over the last couple of months to get us in a much better position and you just think about it. when you turn this on so rapidly, it really tests the elasticity of the supply chain if there's one area we've been focused on, it's our supply workers who assemble the breakfast sandwiches and the bakery case. >> one last question i've always regarded you and your predecessor as being the best kind of ambassadors we have to the united states if there are countries that do not have religious freedom like china, how can you influence them to be maybe better actors >> jim, look, we operate 84

markets around the world specific to china, we've been in china now over 20 years. i think the most important thing we do is when we show up in a market and we show up in china, we have built starbucks in china for china. so we hire talented people we leverage the artisan craftsmen who build our stores we're helping coffee farmers in unon by leading by example how we can take care of all stakeholders, ou serve, the communities we're a part of, you know, we think that leading by example unflunss other businesses to do the same. and by doing that, we hope to make the world a better place. >> you always have you and your predecessor, howard shultz i have to always give him credit he doesn't get neff. we know that kevin johnson, president and ceo of starbucks congratulations on the reopening and human connection we all need it always bragreat to see you zblst that's kevin johnson boy, i have to tell you, that is a message. that is one positive message and, of course, a correction

who has to find something negative about one of the greatest companies we have in the country? starbucks. sbux going higher. we'll be back after the break. just chill out >> the chill master j. >> the chill man is in the house. he's happy >> the lightning round is coming up when "mad money" returns.

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susan? >> jimmy irreplaceable and unflappable. great to talk you to i've been watching you to and listening for decades. back in september you had made a recommendation for verizon it's been trading in a very narrow range that is fine i just want to know what your thoughts are to keeping it >> verizon i hear that quarter is going to be better than expected. i think they're doing a great job. a lot of business with apple i want to buy the stock up verizon. >> gale in hooi hooi thank you for taking my call >>. >> absolutely. >> i used to listen to you several years ago. but tonight i'd like to ask your opinion on dream box, pos and

gbox >> it's still one more mobile application, free wallet here's what i tell you i say that that means you should buy paypal i think pay pal is the winner. john in florida? john >> yeah, hi, jim it is john kay in florida. >> it's been a while how you doing? >> i'm doing fine. what's happening >> the stock i'm interested in, jim, is i believe it is vuzix, vuzi >> optical too hard for me. i have to do work on that. billion dollar company have to learn more how about we go to katherine in new york katherine? >> hi, jim thank you so much for your wisdom >> you're really nice. thank you. >> mostly i'm invested in big tech faang and my biggest

holdings are amazon and nvidia and i thought i should have some variety so i recently bought some kmi do you think -- >> i think kmi is good they won't be able to build a lot of pipelines therefore that makes me feel the scarcity value and buying kmi. and that, ladies and gentlemen, is the lightning round >> . >> coming up, stay modest, america. a rotation is fumbling animal. but cramer can help you tame it.

it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪

i became a sofi member because i needed to consolidate my credit card debt. i needed just one simple way to pay it all off. it was an easy decision to apply with sofi loans, just based on the interest rate and how much i would be saving. there was only one that stood out and one that actually made sense and that was sofi personal loans. it felt so freeing. i felt like i was finally out of this neverending trap of interest and payments and debt. ♪♪ when you're in the middle of a sector rotation for one group keeps roaring and another group gets plastered, it feels like it's hard to believe until it is

over at which point everyone starts acting like the winners are unstoppable. you look back a few weeks later and kick yourself for buying the industrials at the top or steering clear of the super growth stocks near the bottom. a month and a half ago, the rotation into the industrials ended and new rotation into super growth stocks got rolling. no one seemed to talk about it or even notice it. don't believe me take a look at the recent action in these stocks. snowflake, docusign, not to mention square, tesla, paypal, same goes for roku, bumble, app love which we talked about, tr trade desk they're delaying nut privacy policies that would make it harder for advertisers to track your behavior online when you look at all these hyper growth names, you'll see a bunch of stocks that have been snuck a hideous decline before they bottomed right around may 12th may 12th since then they've been on a

relentless run higher. say okay, what happened? i went to "the wall street journal. i look back. what happened may 12th you know what happened it wasn't the pandemic it wasn't politics it wasn't earnings no, what happened was we got the hottest cpi number since 2008. a bonnafied barn burner at 4.2% which made a lot of money managers freak out about inflation. never mind that one-third of that increase came solely from used cars and trucks the biggest price increase since we started collecting the numbers. more importantly, this cpi figure convinced the big institution that's no matter what he said, jay powell will have to change his easy money attitude in order to tamp down on seemingly out of control inflation. yet, the money managers did a two step they decided to vote against powell that very day they bet that he had to fold by raising interest rates sooner than expected. when the fed is about to tighten, the wall street

playbook says you need to sell the cyclicals and buy the stocks that thrive during a slowdown like the super charged growth names. that's what spurred the rotation yes, a one huff two punch. raise rates, rough session, buy high growth. i know i didn't see it coming. i thought the big jump was from the colonial pipeline hack i never dreamed those stocks were roaring because hedge funds fell in love with the secular growth plays again the industry will inch up and i wrote them off as collateral buying from the delta covid-19 variant. maybe people were worried about the lockdown frankly, i had had an answer for every single one of the tech stocks that bottomed on may 12th i didn't want to believe that jay powell is wrong. i still don't think he's wrong many of the inflationary pressures started to abate but i did misjudge the power of wall street. remember, in this short to medium term, it's the big institution managers that control stock prices most of these people are

convinced rightly or wrongly that fed will have to slam the brakes on the economy in order to tamp down inflation ahead of when people think even if that results in horrific crash landing that would benefit these companies! it is so good to look back at that moment f you read the stories, you would have seen endless insight about growth versus value how this market loved value as much as it hated growth. i loved the cyclicals, industrials, value is code for cyclicals. that's when it peaked right as the hyper growth stocks came roaring back the head monica lewinsky the las - headlines is how you had to own industrials. the thing is they're temporary once they start to feel permanent, that is often a sign the move is coming to an end if if the april consumer price index triggered this rotation into junior growth tech stocks, maybe the june cpi can reverse it assuming it shows that inflation is coming down the bigger point is that the market is a humbling animal.

hardly anyone saw this coming. i never heard it so argued that the cpi would cause this inflation into the stocks. much that's what happened. i like to say there is always a bull market somewhere and i promise i'll try to find it just for you right here on "mad money. i'm ji \s a live look over surfside, florida, one block north of miami beach. a desperate search underway right now, in what's left of this building, which collapsed overnight. now, the search for human remains or for anyone who may have survived. i'm shepard smith live on scene in south florida, this is the news on cnbc the foundation somehow was undermined and the whole thing came down. when the dust cleared, the back two thirds of the building was

gone