♪♪ hey there "mad money" fans, cramer is off tonight. but you are in luck, a bonus hour of "fast money" coming your way. the five biggest stories that impacted your money this week. we kick it off with the most anticipated if not controversial ipo of the year, robinhood going public at the nasdaq this week the stock rebounding a bit today, but still down more than 7% sinces it first trade

so, what is next for the stock >> hey, this was not the ipo pop robinhood's investors were hoping for, seeing a slight turnaround on the second day of trading. it is still below the $38 level. this has been the worst performing debut of a public offering this size robinhood set aside 20% of the shares for retail investors who are in the red, at least on paper if they bought at the ipo price. investors are focused on the regulatory issues as you can see the chair said the agency is reviewing payment for order flow, which is how robinhood makes the majority of its revenue, 80% some have highlighteds it valuation and fears of a possible peak in retail trading. according to new data monthly active visits and time spent on

the robinhood app are all down significantly. web traffic growth fell to the lowest level since june. we should note robinhood is still out pacing the rest of the brokerage industry and analysts say it is more akin to a social media app than a brokerage firm. all of it adds to pressure for robinhood looking to areas to justify the valuation. it is looking to add retirement accounts as well as a crypto wallet finally we had kathy wood, officially a buyer of robinhood. scooped up about $45 million worth of robinhood shares yesterday. back to you. >> yeah. that news did not seem to hurt the stock today.

kate, you track this stuff incredibly closely we have been talking for months online and off line about the institutional vs. retail aspect of 2021 in general a lot of the gamestop saga what can you tell us about yesterday, were they flipping shares were they big buyers of shares relative to institutional investors? they got a decent size of the allocation, but are they interested >> you know, it is hard to tell. we look at reddit as one signal. i am sure people are familiar with wall street bets, a popular forum for a lot of the day traders and folks using robinhood. there were folks that may have been burned by the gamestop saga

and said they did not want in on this ipo and that might have had a spill over effect. but there were a ton of comments and reaction about the ipo like you reported, robinhood was really relying on the backing of a lot of the retail traders to make it a successful offering. but there are plenty of robinhood fans it just has been such a controversial company and really polarizing they seem to love it, use it, really the way they were introduced to trading. there are some that are sitting it out there are others who are actively trying to sabotage the ipo by commenting everywhere on reddit and twitter >> you used the word polarizing which translates to volatility for a lot of people. what does robinhood's lack luster debut tell us about the future of retail investing and the ipo market in general?

here to break it down, his firm has invested in big firms like shopify. you and i go way back on this ipo world. i feel like we talked about a lot of ipos in the day, but this feels a little special what do you make of what happened yesterday you know, what does it tell you about the ipo market as well as the retail trading momentum that seemed to really kind of take form this year now, maybe a little more in question >> well, i think that you are seeing the bull market continue. i think people are looking back, especially retail investors look back and say how come i only bought the stock yesterday that was in tune the last year to several years and now i think people are seeing stocks going both up and down and the retail investors are fickle

we have seen it in the gamestops and amc. this is a fickle investor base compared to maybe institutions that might be more long-term focused. i think the key is that companies will start to have a direct relationship with their shareholder base, no different than a direct relationship with their customers. and that conversation is something that robinhood is beginning to have. you are going to see more companies that are going to communicate with their investors, whether it be directly via email or twitter and other ways as opposed to having investment bankers, traders, in between that relationship >> interesting there is a sense of cutting out the middle man and trying to do things differently in the process. a lot of experimenttation. some people were drawing comparisons to what happened with the coinbase direct listing where that signalled a peak in crypto in april and hasn't

recovered to those levels since then some people are drawing the analogy that robinhood's debut could be the peak of the mem stock retail trading phenomenon we have seen >> you are also seeing competition. you are seeing companies like public.com, a direct to consumer trading platform take a lot of share and grow quickly you have seen traditional brokerages like schwab and fidelity react to robinhood by adding crypto and being more flexible and cheaper in their prices you know, you are seeing all of the competitive response come in to effect as they are entering the public market, not dissimilar to coinbase although the leaders might not be doing as well, i think the

industry as a whole is lifted up by the same familundamentals. >> one thing you were talking about with robinhood speaking directly tos it shareholders, that disomething different, as kate laid out, giving about 20% of the stock in the offering to users of its platforms if they wanted to buy shares would you recommend this to any of your portfolio companies as an option, especially at the size and scale of 20% of the deal >> you know, it was very aggressive i am dying to see the case study on it from the investment banks that allocated it. you know as i said before these are fickle investors when the stock does not go up, they take more signal than an institutional investor we know there are a lot of flippers in the public market.

companies have a deep consumer experience and they want to build community around the customers and maybe transition them to shareholders i think it is great they provide access to people that are part of the tribe and join them and not only be customers but shareholders >> you know, as we look at it, and i would be curious also to read the case study on what happened yesterday and how it all went down and implications if for future deals. but we are seeing the movement away from the traditional ipo process. but that seems like it is going in fits and starts with direct listings can you give us something about conversations behind the scenes. are you getting closer to finding a deal or seeing it as a viable way of getting companies public as it compares to other

mechanisms of direct listings, traditional ipo process? >> founders are innovators and want to look for a better way to do things. kind of in their dna not to do things the way their father did it or someone suggested to do it you know, those types of people and companies are looking to do things their way by their rules and improve on the process we have seen a lot of companies, and i think you will see it in at this time second half of the year a lot of premium companies. you you want to say i want to have more control of my process and more control of who i allocate my shares to. to the customers to the sponsor helping to stabilize the stock price. they want to control the process and control the shareholder

base if you look at marketshare compared to two years ago, i think spac and direct listing will continue to take marketshare. >> we will be watching closely rick, thank you so much for being here we are just getting started on this special edition of "fast money. one trade down and four to go. scouring social media for the next big bet and a wild week for one of the market's fastest-growing assets we'll be right back.

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welcome back to this special edition of "fast money." we are counting down the five biggest stories of the week. the retail trading boom showing no signs of slowing.

justin, good to have you here. so, i was looking at some of the producer notes and it appears that robinhood was the most talked about name on wall street bets over the past week. not surprising what it went through today. i am curious what the sentiment looks like mostly positive or negative? everyone talking about the ipo in general >> yeah. so, robinhood is by far the most talked about stock on wall street bets right now. the volume is almost double that of the number two stock, amd half the people there are bullish on the stock and use it a lot. the other half are quite negative on the stock. i think that it will be interesting to see what happens.

with every other meme stock the sentiment is overwhelmingly positive and with robinhood it is quite different >> that is really different. this is certainly a name which is quite polarizing. given that, do you expect robinhood to become a meme stock in and of itself it was the poster child of the meme stock and the gateway to the idea in the first place. given the po polarity there is chance to become one >> i think robinhood will always be talked about a bit among wall street bets and that community but i am skeptical that it is going to remain in the top 10 or 20 because there are so many other companies out there where the sentiment is much more

pos positive there are brands users absolutely want to get behind. if you look at the comments, robinhood is not one of those right now. >> speaking of meme stocks and two names that seem to have a lot of positive sentiment, gamestop and amc that is what we think of but they are kind of slipping in terms of popularity and in terms of the frequency in which you are seeing them talked about on the platforms. does that signal to you that there could be an end to the frenzy surrounding the two names or do you think it is temporary? >> i think it is temporary what happened this week, is that you saw five of the megacap tech stocks move in to the top ten. that was really surprising these are trillion dollar

companies. the fact the redditors are talking about companies that are always up there. i think it is a temporary thing. obviously those stocks had good earnings and they were in the news a lot but i do expect some of the traditional reddit darlings like amc and gamestop to be back up there soon >> big tech does not have as much short interest. do you think the short squeeze idea is in the past or are people still really targeting potential short squeezes as well >> i think they look at short squeezes some of the due diligence is on how much short interest there is i just think big cap tech, it is too obvious, right anyone on the street wants to

invest in, they will say one of those names. >> makes sense but it is interesting, there is a basket of retail favorites that is continuing to out perform the professionals. justin zhen, thank you for tracking what is going on on the messaging boards >> thank you >> the hot trade that can't gains it footing others are still waiting for it to crash and burn. we are breaking down that trade when the special edition of fast returns.

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if you're 55 and up, t-mobile has plans built just for you. switch now and get 2 unlimited lines and 2 free smartphones. and now get netflix on us. it's all included with 2 lines for only $70 bucks! only at t-mobile. welcome back to the special edition of "fast money." we are drilling down on the five hottest stories of the week. we just tackled the robinhood ipo and the retail trading boom. crypto closing outs it best week since february after hitting

40,000 earlier this week now we will breakdown the move mike, let's start with you do you expect to see a catalyst in the near term that really helps it break out to the upside >> yeah. so, we did see a bit of an overzealous market in the year last friday we saw a lot of the shorts get cleaned out and we are seeing it this week potentially it looks like a similar playbook to last week.

now it is more trade oriented. long-term, still about fundamentals and about the flow of capital and funds i see no slow down institutions developing crypto it is kind of tough to distinguish right now. but the market looks like it did in october of last year. you had the bitcoin shrug it off. bitcoin and etherium were shrugging it off >> just to follow up on the comment about the shorts being flushed out. do you think part of that is because there is a technical aspect where short sellers are required to cover, and that is helping the price shrug off the

regulatory concerns in the short-term, but ultimately, you know, does want tide come back and do we start to see more response to the regulatory headlines? >> yeah. the problem with that is that they are just that, headlines. the reality is that we are going to continue to see market direction determined by the trading community in crypto. regulators not being able to step in. china hit us hard in april and may with the crackdown on mining which took inventory down. but the shorts are washed out. most of the leverage is in the hardware perpetual swaps

if you are short an asset and get margin called, you have brokers doing it again, innovation in product and market but a lot of the short stock cleaned up because of that grind higher >> the power of blockchain thank you for sharing that one of the more fundamental moves that helped generate some price activity this week is a report that amazon could be accepting bitcoin in the future. how important would it be as a whole if you you did start to see more companies using this as a method of payment. what would it mean for the validation and for the price how are you looking at that? >> well, certainly every new company that comes in is

helpful. is amazon working on this? absolutely there is no doubt they have a number of people this is too big, you know. they are too forward thinking to be ignoring this the regulators are going to do what the regulators do for singapore and switzerland, they have the rules that are clear rules that are friendly to the industry so they are seeing a lot faster industry growth. >> what does it mean it is bigger than any government or type of currency >> you know, in some ways this is a revolution for the first time ever we are decoupling state from money state from value value transfer you know, that is scary to a lot of governments all new innovation is scary to

governments. and so, you know, the countries that are seeing the future and increasing the upon future and coming out with friendly regulatory frameworks will really bch more and more and more >> mike, which areas of crypto it is not moanolithic. you can see four specific ones on the screen that went away you mentioned ether and bitcoin. what areas-the market do you believe are poised to prosper right now? >> obviously with opportunity comes risk things like decentralized finance. a lot of the major investment banks are under writing what the new innovations are. and it is something they can participate in

other things that are more consumer based, you know consumer facing in the force of artwork. you know you are seeing the creator creating their own economy. there are a lot of things happening in those two areas as well it will be a very exciting next five to ten years. >> the producer notes you had a bullish case on crypto, saying the industry could be $40 trillion in ten years. that is the size of each of the u.s. stock markets and the u.s. bond markets right now what is driving that for you and what do you think could derail it >> when i look at bitcoin, i see it as historic value today that is dominated by gold

which is a $10 trillion market today. when you have something that is not just a little better but 100 x better and tends to dramatically grow the market when we look out ten years, the store value market could be $40 trillion if bitcoin gets half of that, and could be more, you are looking at a million dollar bitcoin. >> it will be an interesting ten years. thank you. robinhood meme stocks and crypto, 3 of the 5 topics down the red flag casting a shadow over global markets, especially tech. this "fast money" special edition will be right back

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welcome back to this special edition of "fast money." we are diving into the five biggest stories that impacted your investments this week new developments out of china as they continue their crackdown on big business, and now u.s. is stepping in. >> reporter: the security and exchange commission is demanding additional disclosures before it agrees to sign off on their ipos the move follows a regulatory action by beijing. chinese regulators are trying to calm concerns. they pledged to expand market access to foreign investors a day after the security regulator held private talks telling them not to over interpret the moves and that china would allow u.s.

listings as long as chinese firms complied with chinese rules. private education firms must register as not for profit property giants face new limits on land purchases. and tech firms were told today data security protection should be their bottom line and red line they were ordered to step up their risk assessment and management for any potential export of essential data >> thank you so much flecomplexity and so muh potential for growth listen to jim cramer's big morning to investors earlier in the week on mad money. >> don't buy communist stocks.

wake up media. it is a crackdown against us >> all right i cannot wait to get reaction from david, he runs an independent firm and fast money trader of seymour asset management thank you both for being here. tim, you have been investing in emerging markets for 35 years. how bad would you say that tensions are right now and how as an investor would you calculate the risk >> it is great to be here. i am going to say 25 years >> china has made it a point to try to elevate their markets and companies into a global standard they care about having access and being seen as a reserve

currency and deep marketplace and that their markets are freely tradeable they are trying to get the msci on board they have done a lot it is why what we are seeing over the last couple of weeks. i can't say that i am surprised. i am sure david spends a lot of time on the political end. china has never been a true democracy. i think they have been stronger on china this is really about control of the 21st century for technology. 15 years ago we were saying oil, gas, natural resources were of strategic importance and what nations were fighting to control.

data is the new oil. china is fighting to be in the game and possibly believes they should be leading the world of cyber space, internet technology, tech and chip infrastructure >> david, sounds like you agree in terms of avoiding china all together when it comes to investing. does that include u.s. multinationals with a large presence in the region how do you get exposure to the growing economy, the second largest economy in the world >> yeah. thanks for addressing the important topic and great to be here i am very concerned about racheting up tensions between the u.s. and china investors in the u.s. are getting hit by beijing and washington the u.s. congress passed a law that threatens to delist chinese or any foreign companies if they don't comply with new u.s. tighter audit rules. and the fact of the matter is

that beijing gets what beijing wants. they do want to dominate internet traffic and telecom and data security. but they definitely want to dominate it at home, control it, own it, they forced alibaba to divest their consumer financial scoring system to a publicly -- government entity last year. there is no reason they can't do the same thing to alibaba, taking away cloud computing or anything they feel like doing. this is death by a thousand cuts you will continue to see pressure from beijing as they are trying to reign in more of the businesses before they get too large. and it is not just beijing facebook has been hauled in front of the u.s. congress every other week and amazon was fined $900 million for a privacy issue in the eu. so, everyone has got their eyes on big tech.

china just has the levers to manage it the way they see fit i think people could buy exposure to china through exposure to commodities. the growth story is real if you own the u.s. mutual funds that owns a shares shares that are traded in china. all of the major brokerage houses have them you are getting exposure to the growth story without taking the risks of being on the wrong side of nationalistic moves by beijing where they target nike and starbucks and apple and tesla as they have recently in the interest of championing domestic players in the same spaces i would be cautious. i would use commodities and the a shares as a way to keep up exposure >> seems like the tight rope there. on one hand you have the championing of the national home

raised companies on the other hand you do have situations, especially in the tech space where you could be a victim of your own success in china. tim, are you advising investors to sell shares in names like alibaba, a lot of the chinese tech companies that seem to be at the center of the regulatory storm? and if so how should investors be positioned to capitalize on the growth >> look. we have been lightening exposure i don't think the situation gets better any time soon and eps revisions are coming down. a lot of global investors in alibaba and ten cent may not be there tomorrow in the same form. so, you know i think investors

will get better levels to get in i think that long-term the stories will find a way to work themselves out but no i watched russian dismantling piece by piece and some of it feels similar. the chinese businessmen who have been very powerful in the last five to ten years are on watch and it is a different environment. i am a lot more worried about beijing than i am about washington i think the listing standards are things we always talked about. i think the dynamic for a lot of em players, this is frustrating because em was breaking out in february, all-time highs, finally back above prefinancial crisis areas i think that is frustrating. you have to get china right.

a lot of people got china wrong. this is great for samsung and taiwan semi. there are other ways to play it that are going to see a relative flow at the expense of some of the names. frankly i don't think you need to own some of the names right now. >> david, given the interconnectivity. now that you are seeing the dismantling of this. here they are getting more scrutiny what does it mean for the overall relationship between the two companies? >> i think the relationship is severed and getting worse. i think that china really feels like it has been held back by inappropriate treatment by the rest of the world. there is bipartisan dislike in the u.s. for china

the emerging market story is very real. i agree some of the other regional players, samsung and elsewhere are good places to look i would look at india, great demographics and good growth right now i think u.s./china will put the crosshairs on a lot of the investments i would step away. >> what are three investments that are safe in china right now? >> u.s. companies that i do not think will be controversial. texas instruments. finally apple. marketshare above 10%. tim cook has done, i think, a

masterful job of navigating in china. i think apple will be okay for now. >> we will keep watching have a good weekend. four big stories down and we are moments away from revealing the final piece of tonight's fast five one market pro said more stimulus checks could be coming in the next months icy hot. ice works fast. heat makes it last. feel the power of contrast therapy, so you can rise from pain. feel the power of contrast therapy, ♪ ♪ ♪ digital transformation has failed to take off.

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welcome back to the special edition of "fast money." we are drilling down on the five biggest stories impacting investors this week. we tackled the robinhood ipo, retail trading boom, moves in bitcoin and the china crackdown. time to reveal the final story delta variant remaining front and center for investors with

the c.d.c. issuing a stern warning saying acknowledge the war has changed now saying even vaccinated people are able to spread the virus and that is having a major impact on reopening plans for businesses across america here is the latest on the quickly unfolding story. >> reporter: thank you corporate america is definitely taking new measures to combat the delta variant and the plans vary across the board. all salaried and non-union hourly disney workers will need to be vaccinated they have 60 days. the news comes after disney enforced a mask mandate for all guests that venture indoors. google, facebook, walmart, the "washington post" are requiring all employees be vaccinated, 400 colleges and universities and

all civil federal employees. similar at walmart, sam's club, apple customers will have to wear a mask in half of u.s. stores masks, even coming back at wall street and start spreading the news all staffers,performers and theater goers will need to be vaccinated in order to enjoy a show on broadway the rise of the delta variant impacting employees who'll be going back to the office that is the case for lyft, pushing back the date to february, apple, uber and google all pushing back dates to october. and then twitter closeds it new york and san francisco offices

and paused future reopening. for many, september marked a triumphant return to work. >> maybe if you sang more things would be better. i am going to hold you to that the delta variant becoming a huge wild for investors. let's bring in jim and tom thanks to you both jim, as you hear the headline does that make you nervous about the way the stock market is positioned right now the cruise ships, the airlines, they are dramatically under

performing the rest of the market the old work from home stocks by in large had a good month and i think the market is sniffing out that there are restrictions coming and i suspect in a week or two the list will be much larger >> tom, why is it that you think the market does not seem to really be reacting with the exception of a couple of days here or there with the newsline regarding the delta variant? >> i can think of four reasons the delta variant was a 45-day episode in the uk. the second is that last year, when we had the waves of cases, the stock market peaked 35 days before cases peaked. there will be a market panic

when policy makers panic, we are okay one of the third reasons, the delta variant is very transmissible and seeming to cause severe illness in vaccinated people, the number of deaths in the u.s. and even hospitalization rates are quite low and they have begun to roll over in the u.s. i finally just think it is not only appropriate to see the actions taken by companies but i think that in the fall many of the clients expected the mask mandates to come back as flu season comes. i think the market takes it in surprised. >> you don't think the market is expecting shutdowns or impacts to the economy but what if there is a change here should investors be prepared for that >> yeah. i think they should. as it keeps going, remember, tom laid out a lot of really good points but at the end of the day the

decisions on restrictions on the economy, masks, possible lockdowns will be made by politicians in concert with some experts. but still politicians will draw the line and we saw how that was a flip-flop a lot last year with the decisions. and i also think that if we do see if kind of restrictions or something, you are probably going to see congress spring into action, and the potential of stimulus, it is not off of the table yet. let's all remember back in march when we got the $1200 stimulus checks, we had a surge into brokerage accounts that is still a record for etf and mutual fund flows on a weekly basis after the checks came. some in the market think if we don't get a lock down and the economy recovers, if we do they are going to mail a lot of money and it will wind up in brokerage accounts we saw it in april >> interesting thought we had this binary market idea,

you have the stay at home stocks, the reopening stocks in this period of uncertainty, what basket would you be finding opportunity in right now i think jim is correct to say when markets are nervous, they will stick to stocks they know can grow day in and day out. i think fang and the stay at homeworks. we are also in a period that markets are choppy july and august it is a tough month historically to make money. delta is adding to the noise which makes me think, as we get into the fall, the stocks that are going to be the biggest bargains as people are more confident about it ending, the cruise lines, the hotels, the energy stocks, things that companies will have visibility on because they will breathe a sigh of relief as well >> jim, do you see opportunity there as well or would you pick a different trade right now? >> i see opportunity there the only thing i would caution

against is that the opening of the office is going to be the most tricky thing as we move forward from here. a lot of people, let's talk the dirty secret a lot of people don't want to go back to the office if the delta variant is another rationalization to keep them from the office and we have to push back the reopening of a lot of offices we are going to see a wholesale change in office, and i would be leery of the commercial real estate market. it has, and especially the real estate market really buckled a lot under this as we get in to the fall and are still not opening the offices, whether it is delta or whatever reason they will have to rethink the sector of the market >> that is a really interesting point. tom, super quickly, what does all of it mean for inflation prospects? seems like we didn't say the i-word this week >> yeah. anyone looking at the tenure would realize that the bond market is telling us that inflationary pressures could be

prevalent but nothing that is causing the market to expect inflation. it is far under shooting what people thought it would be at the start of the year. >> absolutely. tom, jim, thank you so much. thanks for watching. the news with shepard smith starts right now team usa, champions in the pool and on the pitch. i'm shepard smith. this is the news on cnbc >> the cdc is saying the war has changed in this pandemic >> the delta variant as contagious as chickenpox vaccinated or unvaccinated, you have it, you spread it are we putting up enough of a fight? a major crash sidelines team usa in bmx racing. >> a pileup! >> and simone biles gives an update on her case of the

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