20% and jp morgan increasing the dividend from 90 cents a share to 1 cents a share with no changes in its buyback it will be interesting how these will settle overnight. morgan stanley key in terms of the movers. >> second best performer year-to-date, this should continue to provide fuel. >> that is going to do do it for us on "closing bell. "fast money" begins right now. live in the nasdaq market site overlooking times square this is "fast money. i'm melissa lee. tonight karen fiberman and tim and guy and we're all over the after hours action after announcing changes to the dividends and buybacks we're breaking down the action straight ahead. plus we're trading the software serve, the igbtef, hitting an all-time high but is there trouble for this group

and boeing headline that took $5 billion off the company's market cap today but we start off with a macive late day soars for facebook after a judge dismissed the ftc anti-trust complaint against the company. julia boorstin joins us with the latest. >> reporter: a federal judge dismissed the state's attorney general case filed against facebook back in december call fogger the divestiture of facebook or what's app before filing claims and seeking a remedy for acquisitions. the judge dismissed the ftc complaint against facebook saying it failed to establish that facebook has monopoly powner social networking but here is the crucial part, the judge did not dismiss the ftc case gave the commission until july 29th to refile and amend the complaint. facebook responding saying we're pleased that today's decision recognize the defects in the government's complaints filed

against facebook we compete fairly every day to earn people's time and attention and will continue to deliver great products for the people and businesses that use our services now analysts michael nathanson telling us, quote, there is a win until we know the full extent of what the new ftc will do and what the pending congressional legislation will look like. no one should spike the ball yet in mega cap tech land until we see it all but this is clearly a set back for the government's push to break up the social media giant. that news sending shares of facebook today up more than 4% with a company valuation topping $1 trillion for the first time now it could also bode well for the other tech giants facing anti-trust scrutiny. amazon shares moving higher on this news. now we have reached out to the ftc for comment and have not heard back from them yet guys, back over to you. >> julia boorstin. this was perceived as the

biggest regulatory threat facing facebook which looks like at least for now stalled. so guy, good news. does it stick? >> i think, first of all, you should never spike the ball. it is great seeing karen finerman in person. >> i know. fantastic. >> i'm very happy about that number one number two, you should never spike the ball barry sanders had an entire career and handed the ball to the referee in the end zone. and you could spike the ball, about you but we've been saying that for a while this should be trading 385 offer the $16, and you put a 24 multiple on it and you get there. probably higher than that. and i don't think we've been glib but we said this is probably sort of a speed bump on the way to 385, 400. i'll stick by that into earnings into the end of july. >> we've had this conversation on the stow many times when we talked about a threat, a lawsuit being filed. stock barely reacts and we sit here on the desk or remotely as it were, and say, no, it is not a big deal it is not a big deal for

facebook it is going to be nothing. they couldn't prove it and life goes on. but here we are. the case gets dismissed and facebook goes higher it doesn't make sense to me. >> i think the threat is worth much more than $14 if it were to pass so this is one multiple point in a p.e. that i thought was low. i don't think of this as facebook shareholders spiking the ball this is like okay, this is nice. this is still to me a very compelling value stock right. we talk about -- i mean, you know, the valuation of p.e. basis is cheap, and that is when you put the cash back in that is another $50 billion. they're growing and i mean the margins here are phenomenal. so to me this is nice but one multiple point is not -- that is a minor hoorah it is hardly spiking the ball. so i still like it here. i think this is marginally good news it ain't over, though, the whole threat, for sure

so it is still there i don't know how much the rest of that thread is worth. but this isn't saying it is trading like the threat is completely over. >> they could refile they have until july 29th is what julia said. one thing that the judge picked on was the length of time between and when facebook acquired instagram and what's app. it was years and yet they decide to go after them now at this point. and that is not a remedy with any refiling. >> look, and i think there is other potential football teams looking to put the pressure on facebook in the form of a number of state legislators and essentially state courthouses to be continued but good for karen for staying in the pocket. she's been talking about this valuation for a long time. i think the argument was you didn't argue enough allegations against facebook here. and that the instagram and whatsapp acquisitions were not

anti-trust and in fact, facebook's argument is that we compete in the advertising world which i believe their quote was, which is relentlessly competitive and if you like facebook and a fan of facebook, as both guy and karen seem to be and have been for sometime, you look at their a.r. business which is something else they've been unveiling that is really where i think a lot of the digitdigi ad work is going if you look at the story we've been on the show, i remember june of 2019, i think it is was june of 2018, big days where we saw the first couple shots across the bow, mega cap tech traded down, but look this is a very, very important day and it is no surprise it is not just a coincidence that mega cap tech hit all-time highs today. that the names have been running and i think this is exactly why. >> this is interesting what has happened since the initial shots across the bow, brian kelly, is that we have seen time and time

again facebook prove that it is for the most part the only game in town when it comes to advertising, no matter what protests you threw at facebook, no matter what movements boycotted facebook, the ad dollars still went to facebook and that happened as all of this is being argued in the courts. >> right and we saw it during the pandemic, that facebook is incredibly important to small business so to me i think now the market starts to open up and starts to price in the potential that can facebook have that super app or move toward that super app that they wanted to have all along. which is combined instagram and whatsapp and facebook. i don't think this case and this dismissal actually opens the door for that. but the market is going to start pricing up that probability and they still do have that pricing power. so to be labor the football analogy, it is like they kicked the oblong ball through the giant h, which is about it.

>> which is the goal of the game of football. >> no, no, it is not the goal of the game that is one of the goals that is not the main goal of the game. >> that is how you win the game. >> sounds like rugby. >> anyway, let us move on in this conversation. should the rest of tech celebrate this decision, karen do you think since all of them had targets on their backs. >> i think they should lay low as much as possible. seriously, there are specifics of each case are different you bring up the point how long ago they did the two acquisitions and some of the other ones under attack have different fact patterns, right so we still have a potential -- an administration that might not be so friendly so i wouldn't be -- i wouldn't be dancing in the end zone if i were any of the other ones either. >> the composition of the ftc is still up in the air. there is a lot we don't know in terms of the players in the game

if you want to continue that >> and i'm long. i'm staying long. >> no question i mean karen and everybody brings up great points but think these are speed bump as long the way and if you break the companies up, it is actually the stock is -- might be worth more than they are now. so it is a win-win for them regardless and everything else is just theater. in my opinion, in terms of the rest of technology, maybe get an opportunity after quarter end, half year end this week to see these stocks a little bit lower. but into earnings at the end of july for most of the companies we talk about, the mega complex that dan coined. i think these set up well. >> the thing about some of the part analysis, i get it intellectually but i don't get it because there -- a lost businesses do operate in a flywheel or other parts of the business bank roll so how you could break up that is a valid argument to make >> well, they've all certainly been created as businesses that

could stand alone on some level. but there is no question that the flywheel and whether it is apple or google, there is no question, especially when it comes to advertising, i think you have a story where, yes, you could make an argument that the sum of the parts, the whole is greater than the sum of the parts, excuse me but i think that you if you had to break the businesses up, instagram is a much greater valuation than right now and i'll say this about facebook relative to the triple q's and i know you're a johnson fan but they're doing the dance in the end zone like nobody's business. they've outperformed triple q's by 28% since mid-january so the facebook outperformance story is not something that just happened today this is something that has been going on for most of this year off of a low incentive on facebook at that time. but it is been a great story. >> b.w.j., my fave as you know brian kelly, your favorite in

big cap tech land from this point on >> well i think you have to look, i'd like at something like a microsoft here but they all have a tail wind. if we just brought out to what is going on in the market, if you look at yield curve, it is flat and yields are lower. you look at, it is rally, so this is the growth i don't need a strong economy to have good earnings here. that is what is happening with tech and all of these have that tail wind that to me is the story of the market here. now the ftc decision and releasing the regulatory issue is icing on the cake but the real story is the market is telling you that the economy is likely to slow down, and that you're going to need stocks that could grow without a strong economy. >> well let's stick with tech here software stocks downloading some big games this month the igbtf climbing 10% in june so is this rally for real, let's

go to chris veron. >> i think what you just said, over the last call it 35 trading days, the igv, the software etf is up 20%. so the question has this move already happened or is there more to go i want to bring up our first chart here it is just the igb we've seen it break out above this range it has been in basically since february but when i want to note is under the surface. it is been a little bit more bifurcated than what we've been used to. i think the good news is we're up through 390 that is a big level. i think the bad news is believe it or not igb has not made a new relative high versus the s&p so the new absolute highs are just not quite as strong relative to the ibb index compared to what we saw earlier this year. and if you go to the second slide. the other thing worth noting is we need to appreciate the fact that the software space is now

over bought into what is approaching a more challenging stretch of calendar, the rsi, somewhere in the 75, 76 range. i don't view that as fatal but i wouldn't be surprised if coming months it might be more frustrating and i think b.k. speaks to this as well we just had a huge tail of bond yields going back to the 140, 145 range. so yields more stable here and over bought condition for software, not making relative highs, i think at the very least we have to pick our stocks and that's what we'll do here. three names, two we like and one we don't first one, it is hard not to still like this microsoft chart. this is been one of the great trends of the index. not just the past year or five years, really the past ten, 12 years and that hasn't changed for us tread is in tact the relative position of the stock is also broken out versus the s&p. we like that and i think tactically you could probably look to a 290, 295

target the second with you like long here is salesforce they're similar looking charts above 250 would be bullish here and i think could would point you to the 300 target. so microsoft long, sales force long are a good part of this group. on theweaker side, we need to be mindful of names that are just rallying into down trends and think coupa software is an example. it is rallying in a down trend, 208 moving average is above it we like to be sellers of over bought conditions in down trends i think you'll get that opportunity here so important couple of weeks in front of us for software pick your spot it is more bifurcated despite the new high microsoft and salesforce long and sale of coupa. >> the etf would not be a time to short the itv or is it too

early when you say it is a rough couple of weeks. >> it is too early to say. and the trend in igb is up but under the surface it is not as dominant as it was in the second half of last year >> okay, chris, great to see you. thank you. chris veron. i ask that question for you, karen. >> well i am short right. i am we had a chance in play to cover when things get really ugly. but i remained short i do have some positions that i think of it as a hedge, like a pallent here crm, i bought it well and then it went up three points and i sold it and that is terrible let's see. i like the crm call and we'll see the slack acquisition should close in july. >> i think salesforce, chris is right, through 250 and then you've broken the down trend from last august when it was trading 285, the all-time high so until then you're waiting so i think karen could buy the

stock cheaper, so salesforce is the most interesting on the list. coming up we're tracking the after hours action in the banks making big changes to the buyback and dividend programs, you'll hear from one top analysts and biotech, intelia therapeutics for gene editing treatment. we have all of the details when "fast money" returns uno, dos, tres, cuatro! [sfx]: typing [music starts]

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welcome back to "fast money. a big biotech break through today. shares of intelia surging after positive test results from the gene editing treatment let's get to meg for all of the details. >> melissa, we've seen crisper gene editing technology applied in some diseases like sickle cell and beta thalla, but those are different from intelia, they took patients cells out of thur bodies and gene edited them in the lab and returned them to patients. this data with intelia, which was released over the weekend, was the first time we've ever seen crisper geneticing technology be delivered systemically like other medicines. it was given an iv

infusion treating attr and they were looking to see if they could do this delivery successfully and safely and knock down this protein that causes the problems in the disease and they did that on all three counts and 87% reduction was seen in that key protein so, mel, this is early days. this is only six patients in the phase one trial and only three on the higher dose but because of the proof of concept here, you are seeing not just intelia stock going up but other companies working in gene editing wellas from crisper therapeutics and bean and verve therapeutics these are all after hours but during the trading day today, all of those stocks were way up. you also have kathy wood being in this space with her etf in the genomic revolution so that is hot and there was one company that didn't do well and that is el mile um because they make a

improved drug that investors are seeing competition coming from the small phase one study. mel, back to you. >> meg, thank you. guy, i don't want to say deep end of the pool, but you're really trading on these initial results. >> and it is interesting 100% but we have something to go back and look at over the last month, month and a half great news and if your a shareholder you're thrilled. but the question is what do you do here. and would you suggest taking profits and this is the reason why. number one, this is a news people have been waiting for here is your catalyst and take money off the table. number two, traded 19 times normal volume and the down side capitulation and you saw this in bio gen when they came out with the news, the stock went to $415 a share-ish. we talked about it that night. we said here is your opportunity, this is what you've

been waiting for, take the -- it closed today around 340. last week we said if it gets down to 330 buy with both hands and i'll stay behind that as it traded down to 330 the market is giving you a shot, i think you should take it. >> when you see lyric raise the target from $159 to $70 and say the likelihood for success is 70% from 40%, you think, b.k., it is till not pricing in the full 159. >> yeah, it is not but the market is. so they may not be pricing in the full 159 that the analyst thinks but the market is priced so i'm more in guy's camp where you want to take your profit on these. if you want to stay long biotech, with the idea that this is going to be a big part of the future and you're going to see more break-throughs in this, which i do think then you want to stick with an etf. now xbi, ivb, they both seem to have a false breakout.

but if you get a pullback, i think you buy those two etfs just to get the proud exposure to the space. >> karen >> i agree i can't stand the idea of waking up with a phase three trial that doesn't go the right way so the spi is a much broader list of smaller biotech companies. the ibb is bigger ones but i would do it through both of those. if you owned this going in, congratulations, you have got to take at least some off the table. >> tim >> yeah, look, regeneron rally 25% with the news also of support for again their whole space. i think you have a case, guy's point on bio gen is a good one and these headlines are fantastic and in this case, the durability of the data is still very shallow and it is a wonderful headline in a complex and important space but i think that is the right call and on the two etfs that the gang has outlined, 145 to 170 is

the range on the ibb this break out above 170 is heading that way. >> still ahead, we're after the after hours banks, a few of the big names announcing increases mike mayo said this is a turning point for the group. he'll join us next and later one of our traders went on a crypto buying binge today. they'll tell us why they are picking up serious coin. all of that and more when "fast money" returns

welcome back to "fast money. big banks on the move in the after hours. morgan stanley announcing it is doubling the dividend. the next guest said this is a

maimer turning point for the sector let's bring in mike mayo from wells fargo. why is this a turning point? >> well, this brings in a new era for banks with freedom and floexibility to return capital the way they choose to do so and not wait for the regulators to give their okay. what you've seen so far with the banks out, you see a median dividend increase of 10% and by the way this is taking place with still low interest rates, before loan growth has returned and this is a -- amounted to redemption of investors in banks. going into the recession and the pandemic, the concern was that the banks didn't fail, they certainly would be cutting their dividends and here we have a median dividend increase so far on the banks that we've seen of up 10% what we think this leads to, it might not be "fast money," i know this is the show that is -- but we'll talk it between slow and fast money because it should

result in a virtuous cycle right now you get the dividend increases, and then you realize that the yield on some of the banks on dividends or the all in yield, buybacks and dividends to market cap look great and then though show up on screens like the quantity screens and then you get a greater pool of investors, whether it is quantity funds or income funds starting to take a bigger look at banks and buying more banks so it is a new era and redemption and a virtuous cycle. bank of america increased their dividend by 17%. with buybacks, we think they'll be returning almost $30 billion over the next year now their market cap is 350 billion. so 30 billion divided by 350, where globally do you get an 8%

yield. junk bonds yield 4% or 5%, so bank of america has the 300 basis points for the junk bonds and it is not just bank of america sh it is the banks across the board which are more bond -- >> so, when you see a gain for bank of america since you mentioned it, up 37% or 28% for morgan stanley, you don't think that alooks up to the anticipated increase to the gross payout >> well that is why i rang the bell here. we had, i think what you've seen so far, is act one and that is the improving credit quality from the depth of the pandemic we've had strong capital markets. act two, it doesn't happen overnight but over the next five quarters you're likely to see more dividend increases, more buybacks, more of the capital story but also part of act two is the loan growth story it is not here yet but over the next several quarters it just seems very logical that loan growth is going to come back, that is what we're hearing from the banks we're seeing line utilization

improve and supply chains get fixed and then you get more loan growth and then if you want to stay for act three, that is how the industry is driving toward record efficiency over time. but right now this is the beginning of act two and we say act two lasts the next 12 to 18 months. >> mike, thanks for being on the show it is karen. i am -- you're preaching to the choir. i'm long banks and i like the valuations however the thing that keeps me up at night about the banks is fin tech and i wonder if you could address that sort of, i don't know, large scale macro threat to some of the franchises. >> there are some fantastic fin tech players out there they have a great job at capturing some of the underbanked or underserveed. they've taken big share in at payment space and shame on the banking industry for allowing that to happen having said that, some of the best fin tech include bank of

america with jp morgan with tens of millions of customers and deepening relationships. it is not just you used to have automatic bill pay but now you have like multiple digital transactions that are building digital relationships. and your really seeing them influence the environment a lot more and get a lot more efficient. and if you look at companies outside of banking who have made the digit at transformation, they get higher p.e. so we argue, unsuccessfully so far, that some banks like of a bank of america or jp morgan with the fin tech advantage should have extra premium valuation, but for now you're liking to see that in improving efficiency. >> i can't spell doppelganger but you and christian bale, take that the to the bank the first or second week of july, what is the one metric we should be looking at above all

others for me it is tangible book what are you looking at? >> well, i really just like seeing improving efficiency. retches versus expenses. but that is over several years but one metric i want you to focus on, okay, here it is, i think it is a turning point. if it wasn't first or second quarter and this does apply to fast money is net interest income those are traditional banking revenues and over the past year, we're talking first quarter of '21 versus first quarter of '20, that is the biggest decline of net income in a century. and now we think it is a quarter over quarter turning point for net interest income. that is partly because the ten year yield has come up, because the loans aren't going down as much and as loan growth comes back so if it doesn't happen first quarter or second quarter, it is happening second quarter to third quarter and that will get people to realize, hey, and when you get higher rates and more loan growth, that is the gravy

and a lot of the revenues will fall to the bottom line. >> mike, good to see you thank you. >> thanks for having me. >> mike mayo, wells fargo. brian kelly, i go to you what do you think the turning point, bell ringing thesis >> i love the bell i wish i had one of my own so this goes to your time frame. so mike said it very well, this is not necessarily a fast money trade. so what he's talking about is over the next 12 to 18 months. but in the short-term, i think these banks have, number one, anticipated this, obviously, maybe not morgan stanley, that is a bit of a surprise, but secondarily the yield curve is not flat but flatter than it was last week. so i find them to be challenged and in particular the regional banks to me seem to be the ones that are challenged the most so if i wanted to play in finance, the financials anywhere, i would be long fin tech and would you be short the banks particularly the regional banks. >> yeah, for all mike mayo saying that fin tech and jp

morgan, it is jamie dimon who raised the threat of fin tech in his letter tim, what do you find surprising in terms of the gross payout increases that we've seen? >> well, no, i mean, look, these banks are also thinking about how quickly and large they provisioned on covid dynamics. there is so much capital to unlock here. and look, the banks have had a target on their bank until they didn't in the trump administration and then there were really some concerns frankly as we got out of the gates with the biden administration so as banks as we have all said and priced in some of the good good news. and the interesting part of what christian, i mean mike said, excuse me, is in case you have the dynamic with the lower interest rate of the curve and that is part of where banks have run into pressure on the charts

over last six weeks. i think people are concerned that the net interest revenues or interest is something that they actually are going to see the tail wind on so that is really the crux of this argument. the sensitivity there, i think the market has been overly sensitive in terms of where banks have exposure. loan growth is clearly growing if you believe what we're all saying about this strength of the economy here so i like banks. i think they have had a heroic run but they've given some back and this is time to get back into the trade. >> coming up, some serious star power entering the bitcoin etf, brian kelly is here to break down the news. but first shares of boeing losing altitude as regulators push back approval for the new plane. we've all of the detlsai on that one next don't go anywhere. "fast money" is back in two.

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welcome back to "fast money. boeing hitting headwinds after the faa pushed back approval of the long range jet let's get to phil lebeau with the details. >> this is widely speculate and expected that the triple 7 x would not be certified until 2023 even boeing said the guidance is pushing it back. but what we got over the weekend was a letter from the faa to boeing in may saying here is the

reason why this plane is two years away from certification and a number of technical issues they did say to us, the faa will not approve any aircraft unless it meets our safety and certification standards. for dave calhoun and bowing this is another question of what is going on between boeing and the faa and its relationship when it comes to the inspection and certification of aircraft. dave did say earlier this year that they did not expect this triple 7 x to be certified until late 2023. so this is not new guidance from the company but as a glimpse into the relationship between boeing and the faa and in a statement today or yesterday boeing said it remains fully focused on safety as our highest priority throughout 777 x development as we subject the plane to a comprehensive test program to demonstrate its safety and reliability we're working through a rigorous development process to ensure we

made all applicable standards. boeing has 320 triple 7 x's that have been ordered. it is hard to say that this is good news from boeing, from a customer standpoint. but one thing that you should keep in mind, melissa, is that these planes, basically replacing the 747, they're not in demand right now by airlines like emirates. it is not like the airlines are saying we need to fly people long distances that market is dead in the water right now. that said, the fact that you see more of the issues that are coming to the surface being publicly acknowledged by the faa, that is an indication of the strange relationship between boeing and the faa and remember, they also have issues with regard to the inspection of aircraft coming with the 787 dreamliners we know what happened with the max. so it does have people asking more questions about the execution and the developing aircraft >> phil, i saw a story today and

i immediately thought of you as i often do but united might announce the biggest order in the history of jets, 33 to $35 billion. we're not talking about it now but that is a potential catalyst here for the space >> that story has been out there for sometime at least three weeks and if and when that order finally does happen, i think it is to a certain except baked in. it would certainly be good news for airbus and boeing because the speculation is that both would share in that order. so i think to a large extent that that is baked in. remember, both order books, they would love to have somebody like a united or any airline come in and make a big commitment because they lost so many orders over the last year, year and a half >> bill, great to have you in house here at the nasdaq market site. >> good to be here.

>> phil lebeau tim, who do you make of the boeing news? >> well, i think it is in the faa and boeing's best interest to have a very vocal type or a lot of headlines around these types of moments and i think in other words both have a vested interest in appearing that their being overly cautious, overly communicating either in the faa's case really to be the watch dog and to make it clear that they need to be impress the by the development and not push deadlines and from boeing's perspective, i think they played the right game from a p.r. perspective to handling the faa request. if you look at the stock, the up trend off the october 30 low on boeing still very much in tact the 100 and 200 are very much on an upward trajectory and if you look in the order books, in the short run, clearly boeing lags airbus on the narrow bodies but on the wide bodies this is where the company has an edge and where i think the company is going to continue to

see a recovery in this business. it is not overnight. but the stocks is not trading as if you're getting that overnight. so i think you could stay in this trade again in the up trend. >> if i don't know if you could have planned it better in a way. just to go along with tim's thinking, if the faa is going to push back certification of a plane, you might as well do a plane not in demand so it doesn't affect any time lines any howe, brian kelly, not to be conspiracy theorists but i'm sure that crossed other people's minds. >> it is probably not a driver for the stock. nobody expected or needed this thing to be in the air in the next 12 months so you've got some time here that being said, i do think it raises some questions about boeing and the process of certification. the faa is certainly cya on this to make sure they don't have another situation with stuff slips through the cracks but you want to buy boeing here, great. but up at 300, this seems very challenged and remember it is the other

half of the business here which is the defense side and at the last month has taught us anything, we're unlikely to see any type of conflict that would involve defense side of boeing, it is more of a cyber type of conflict so i don't think that is the driver that everybody thinks they were in the past. have it. you want to buy it from 240 to 300. go for it. it is not for b.k. >> have at it. that is a tremendous job by you b.k. >> i should have phrased the different but the story has been out there but recently have seen the announcement might be this week although it might be in terms of people's psyche, i don't think it is in the stocks. i think if that announcement comes out from united, i think we'll see a bounce in boeings here. >> coming up, b.k. goes on a buying bing, scooping up serious coin today and he'll tell us why. and later breaking down the big move in shares of viacom stay with us much more "fast money" after

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let's roll. is this some kind of a ninja boy band? huh? welcome back to "fast money. we have a bitcoin alert. let's get to kate with all of

the details. >> kathy woods arc invest is joining the race to launch a bitcoin etf, submitted paperwork with the fcc this afternoon. about an hour ago. a week after the regulator postponed a decision to approve a different bitcoin etf which would have been the first and in total there are at least eight applications in for a similar bitcoin investment vehicle woods etf would trade under the tricker arkb if approved and it would track the price of bitcoin up about 5% today. it is been cut in half, though, from the high around 60,000 back in may wood is a well-known crypto bull she's been buying the dip through some different bitcoin proxies, namely coin base which is in the top ten holdings for her ark innovation fund. coin base is listed in the prospect us as the company with custody or hold the bitcoin for the new etf. ark has also gotten exposure through the bitcoin trust. and what has been optimistic

about gary gensler approving a bitcoin etf despite his calming for some more regulation of this asset class. he is a former m.i.t. professor. and woods have bounced back after underperforming. it is up about 16% for the month of june. back to you. >> kate rooney, thank you. when i first read the story i thought about kathy wood being able to replace her bitcoin holdings with her own etf eventually which she owned etfs in some of her etfs brian kelly, which is not a good thing for the other bitcoin holdings but what do you make of all of this noise >> there is a lot out there. first of all, remember kathy wood was one of the first, in fact i believe the first etf manager to put bitcoin into it when she bought the gray scale trust. i think it was way back in 2014 or 2015. so she has been a pioneer in this i think what i would make of

this, this is a add to the long list of companies that now want to have a bitcoin etf, i do think we're going to get one relatively soon. probably in the next 12 months or so would be my wild guess on whether or not we have it. but i would say, if you look at what has happened in the bitcoin market, we've had a good sentiment shift over the weekend and this ads to the bullish

let me ask you something that is three months ago when bitcoin was topping 60,000 the institutional case, and the money from institutions was really sort of part -- a big part of that

so they love that it is 64,000 at, at 34,000 it seems not as much is that what you're seeing or no >> no. so that is generally the way that bitcoin works nobody wants to talk to you when it is done and only want to buy it when it is going up but from my experience, i'm seeing the institutional adoption of this has not stopped at all they are continuing to get into this they continue to want to be able to offer it. either in the products or to their clients. and i haven't seen a hiccup in that at all on the drop from 60 down to 30. >> thanks for that, b.k. doming up shares of viacom shooting higher today, we're breaking down the trade when "fast money" returns e goals, why keep it in different places? sofi is a one-stop shop for your finances designed to work better together. spend with sofi and get cash back rewards that automatically go toward your goals. like investing in stocks, etfs, and crypto. that's better together. or pay down your sofi debt sooner.

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welcome back to "fast money. shares of viacom, that is the cramer cam going to take speak to the cfo of -- and we've seen a big pickup in options activity let's get to mike khouw with all of the action. >> already this is a name that trades a lot of activity normally over 1,000 calls but it traded three times the volume and calls outpaced puts by more than 4 1 to one.

they were all 50 strike. the july 2nd and the august 50 so options traders appear to be betting that the stock has more room to run. as much as 10% by the end of the this week or by july or august expiration. >> thanks for that you were pointing out the action ofviacom today. >> i couldn't find a reason. i doent know if it was the options that led it. i have no idea but i'm long. >> interesting mike, thanks for that. for more "options action" tune into the full show at 5:30 p.m. eastern time nt,inupex fal trades. ♪ ♪ ♪ ♪

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final trade time tim? >> morgan stanley now, over 3% dividend yield, the acquisition of eaton advance on top of e trade means this is a $6 trillion company asset under management. >> brian >> if i'm right about crypto, then coin base should have a

good day. >> karen. >> city group, don't feel bad that you didn't get to increase your dividend but you still have your buybacks and there is great value there. >> on thursday, you said the islanders had a 20% chance of -- to win and they lost good for you, melissa lee. bio gen, it did what it needs tnks >>hafor watching fast. "mad money" starts right now. >> my mission is simple. to make you you money. i'm here to level the playing field for all investors. there is 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 my job not just to entertain but educate and teach so call me or tweet me @jimcramer. sometimes this market divides itself into categories that are just mind blowing. today was all about ol