coming down. it seems very anchored at the moment >> without a doubt still hovering there above one and a quarter, but a soft reaction to a slightly cooler print on cpi so definitely challenged those saying yields are going to fly from here. >> down about 300 points on the dow today. that does it for "closing bell." "fast money" starts right now. >> yes, it does. live from the nasdaq market side in new york's times square, this is "fast money." i am brian, in for melissa tonight's trader lineup, a trifecta of talent tonight on fast, call it the paul revere trade? because a correction is coming that is the big warning tonight from morgan stanley's mike wilson he'll lay out his timeline and how he is positioning for a pullback plus, hold them or hold them just a day after we talked about them, casino stocks crashed out

of new covid concerns out of china. is this trade too much a gamble for your money and later on, a very serious topic. a shocking new report on how facebook knows how much damage instagram may be doing to your kids question is, will they or anyone do anything about it that is the very important story you have to hear we'll get you that in a bit, but right now, let's go to tonight's main event apple announcing a whole new fleet of products. an iphone 13, a mini phone, an apple watch and more, but investors may be wanting more. stock sliding into the close down just about 1% let's get more josh lipton with that. good evening >> let's start with the iphone tim cook taking the virtual stage and saying these are the best iphones apple has ever created. and here they are. the iphone 13. the iphone 13 mini, the pro, and

the pro max. all 5g enabled faster chips brighter displays, bigger batteries and updated cameras. as for prices, they remain the same as last year. we expect the carriers to be aggressive preorders on september 17th will be available on september 24th also highlighted today, a new ipad that comes with a faster processor, better camera, costing 3$329 and a new ipad mii that cost $499 both available next week and rounding out the show, a new watch. series 7 20% more screen area $390 apple saying it's available this fall, but didn't offer a hard date heading into this event, apple on a role over the past three months up 15% did finish lower as you point out in today's trade it is lower for september. potentially snapping a three-month win streak

now up 14% for the year. >> thank you very much all right, guys, let's trade this and guy, we will begin with you. this kind of follows historical patterns cnbc pro had something online today. great data showing that really the stock doesn't move on these big product announcements. was there anything you heard or saw that says, oh, now you got to own it or own more of it? >> i love the line as brian kelly will tell you, i think it's going to catch on at some point did i hear anything, not particularly i'm not their target audience, so i think it was, i'm sure a lot of people got amped up about it that's great i don't think it was particularly stock moving. we talked about that last night. but i will say and we're not trying to bury the leak here, i still think that ruling last week in terms of the app store, that's big news. the stock held off about 6%. if you're flying in from mars and you know, this is the first time you've heard of apple and

you're trying to find out where to get in, i think there's some logical places here. you go back to january, the stock topped out around 143. made a 20% decline over a month. so past resistance becomes support. so if you're not in the name, i think that 143 level, i happen to think you're going to get there, and that's where you get in the name. >> tim, would you agree >> if you look at the stock, the stock really hasn't closed to the downside since may it's had a lot of good news. agree with the analog around new releases the story around the 13 release is really the strength of the 12 refresh and the fact that all the data we've been getting from the major operators and the strength we've seen and the slow, well, even if it's moderation into the upgrade cycle is a story of anelongate refresh cycle. i think, look, the story for apple for the last two years has been about the non-hardware business the services and the app store

and even the controversy around the app store, but the multiple moving higher. the story for the next 12 months is around the hardware and you're going the see some of the apple services maybe come in lighter. especially around apple care and some of these stories, but it's a story of higher asps it's a story certainly of a hi hi higher multiple for the stock. apple had a market multiple going into 2021 and now it's 27, 28 times versus the market, 22 i think it holds that. it should. this story around the apple 13 release, we didn't expect much i think it's more about this elongated cycle. i think for apple, it is a hardware company right now and thank goodness it is >> here's the thing about apple. it's made no doubt a lot of the "fast money" and cnbc viewers a lot of money in the last few years. if you bought it 15 years ago, you're probably sitting on your

solid gold yacht there's better stocks. nobody's knocking apple, but right now, it hasn't really done that much. i wonder if there's just a better place for our viewer's money. >> i mean there probably is for all the reasons that dan and tim mentioned. if you think about what moves stock prices, it's new information. so did we get any new information today? no we knew they were going to upgrade a phone. they do it all the time. anything special about the phone? a couple of bells and whistles, but the stock market told you today the price of apple stock told you that's not the driver of the price it is about the, about the ruling last week that guy mentioned. that is the mover of the price so that's what you have to watch out. now, if you want to bring it back a little bit and look at the macro picture, you know, are consumers in a place to buy another thousand dollar phone

and was this upgrade that much of an incremental increase that people are going to open up their wallet and buy it? now, guys like you, i don't know what kind of yacht you have, but it sounds like it's gold plated, they may want to do that, but the general public that don't have your resources may not want to buy that. >> it's made of gold and floats in my bathtub just fine. i give it to my son at night guy, get my point. we're just talking about the stock. no one's slamming apple. i don't want the apple heads coming after us. it's just that you wonder -- >> too late. too late, by the way >> by the way, you're right. >> apple heads >> is this kind of a eutility type stock you buy it like that miniature yacht to give to their children and their children, but if you're looking to print money over the next 12 months, i don't know what do you think? >> we're tasked with trying to figure out what's happening over the next couple of weeks and

months and gene will come on and talk about the long-term hold for this he's spot on jim cramer says it all the time and tim said it. it's not a stock you want to trade. it's one you want to own quite frankly, every couple of months, it seems to be making a new all-time high. brian mentioned earlier, not with us, but should be, over the last three and a half, four years, you've seen 20 to 35% peak to trough declines in the name saw it in january as i mentioned. it's not unreasonable to think the stock could sell off we're down 6% from the high we made just a couple of weeks ago. i think we have another 3 or 4 or 5%. >> 143 is the level you mentioned. six bucks for the low where the stock is now let's continue this conversation and bring in a new voice and friend of "fast money," gene

mo munster. i sort of disagree one terabyte phone, whatever that means kind of a lot of storage 799 price tag. what were the two big takeaways that you heard that made you sit up and listen a little more today? >> from a feature and spec standpoint, there wasn't much. there's a mind blowing camera on the pro, but i think that plays into this narrative i guess that this is yet another routine upgrade. there's nothing that shocked me out of the chair to answer your question, but there is something important that is reassuring for long-term investors is what they're doing here is continuing to hold serve with arguably the world's greatest products. i think that comes to fruition when you look at their, the satisfaction level that their customers have and how they expand into other multiple

products guy said if you're from mars and you come down, you'd look at apple and wonder is this a great stock. i'm paraphrasing guy i apologize if i'm not doing it quite right. but add that martian would have to go buy an iphone and ipad to figure out how to get around what they did today is continue to stand on the edge of products that we need more. it's not just about the pandemic it's about a shift in terms of how people think about learning, working, playing apple's products just work seamlessly we think they have this virtuous cycle where theycontinue to ad features which are largely at the same price as tim mentioned, they did increase the price of the ipad mini by $100, but they increase the functionality. that's a benefit to the consumer then there's a benefit to apple. the more devices they get out there, the more opportunities they have to sell other devices and services to them that to me is something that

resonates. it's the foundation of companies that can continue to march higher this company will not print money for an investor, but this is a company that i think should be in everyone's portfolio and just rest well knowing they've got a line on where things are going over the next decade >> i need to correct guy for a second because if the martians came down, clearly, their technology is superior to ours and will be in our underground sugar caves. they'll give us a new phone. see that, guy? how about the long-term. here's what dan ives said. apple remains in the midst of its strongest overall product cycle in roughly a decade. i mean, dan's been a long-term bull on apple. but that's a strong statement. would you agree? >> i do my own work here, but i think our work has a similar outcome. i'll just put a finer point on

it over the next year, we think there are about 400 million people with iphones that are three years old and older. that is down from what we estimated last year, which was 420 million phones, but still a base of 400 million phones when the street's looking for 216 million next year. it's a nice starting point a nice head start to get to the numbers. i do think that 5g is going to be a multiyear upgrade we track the speeds of 5g in the u.s. right now, it's just slightly better than lt. about 60 megabytes down. carriers are claiming this is going to be a gigabyte so we're talking are 15x faster eventually it's just going to take time for 5k 5g to get going. you're going to want to upgrade and apple's going to benefit from that. >> a long-term optimistic view says it won't print money, but it's a company that you have to watch because they innovate, innovate, innovate thank you very much, gene, as always

>> thank you >> you're very welcome i'll show him a little love. a must own a widows and orphans stock >> it's a must own to me for multiple reasons and the one we haven't talked about is maybe least important, but maybe one that allows you to sleep at night. this is a company that's bought back $400 billion of stock that has routinely $80 billion of cash on the balance sheet that can deliver a big dividend, that has ways they can increase eps it's a vault in terms of the cash flow machine that it is also, how about the fact that lg is no longer making smartphones? how about the fact that apple is -- >> i guess we're going to go to bk bk, we're going to give you the final call on that because i've succe successfully eliminated, dan, guy, and tim give us a quick -- which is nothing wrong with that, by the way. a quick comment on apple from

you. >> another -- my airbnb. >> nice. >> i'm going to take up the air time anyway, when we're talking about apple, i still think this comes back to a consumer story it's not about innovation. this was not innovative at all what they did. they continue to churn out a product and if you believe that consumers are going to upgrade, then yeah, buy the stock but that's all this is there's nothing special about it if you see the consumer start to get weak, then that's going to hit the stock. they're not going to reach into their wallet and by a thousand dollar phone or a 5g rollout is delayed or not as great as everybody thinking, then i wouldn't buy it. it scares me when everybody thinks this is going to be the thing to own if i had to, i would not be long this over the next decade if i had a ten-year horizon >> okay, there you go. from cnbc pro, just say six months after the last two iphone

announcements, 2018, apple's down 15% 2020, 18%. 19 it was up 34 two of the last three years it has not been up six months after these big announcements. call me in six months. coming up, a big, bold, crypto call. a new price target in sight for bitcoin that just might blow your mind. zbl later on is the comedown coming morgan stanley's mike wilson is here on when we may finally see a real pullback in the markets back right after this. before we talk about tax-smart investing, what's new? -well, audrey's expecting... -twins! grandparents! we want to put money aside for them, so...change in plans. alright, let's see what we can adjust. ♪♪ we'd be closer to the twins. change in plans. okay. mom, are you painting again? you could sell these. lemme guess, change in plans?

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investors. today, bitcoin rallied 4% and one of the biggest voices in the trade says this breakout is just getting started. >> we believe that the price will be tenfold of where it is today. so instead of 45,000, over 500,000. our confidence in ether has gone up dramatically as we've seen the beginning of this transition to proof of stake. we'd still probably do 60% bitcoin and 40% ether. >> cathie wood saying bitcoin to $500,000 bk crypto bull. 500 k, really? >> i don't think that's an outrageous call at all i've been talking about $250,000 for years now, but again, let me put numbers around that. if you look at the u.s. economy, it's about a $20 trillion

economy. currencies need to grow to a certain size to service the underlying economy if you think that bitcoin is going to be the currency of the internet of things, that opportunity is about a $20 trillion opportunity so how big does bitcoin need to be to service that look back at the u.s. economy. the federal reserve, they stopped reporting it when they started printing money, which is weird, but it's estimated to be about $7 trillion at this point in time. so if i need $7 trillion u.s. to run a $20 trillion u.s. economy, then if bitcoin is going to run the internet of things economy, it needs to be $7 trillion in market cap which would put bitcoin around the half a million dollar mark so i don't think it's that outrageous >> guy, do you think that's outrageous bitcoin bulls are happy.

that's tenfold more than ten tfold up from whee we are right now >> i didn't know there was going to be math here, so forgive me bk literally wrote the book. he's obviously done the math so he understands it. what i'll say, and this is something i can wrap my head around it's reasonable to believe that gold, which is a $10 trillionish market cap that bitcoin or crypto can trade to at least there. my math would be a little different. it would get you a lower price, but i think we're all looking at the same types of things i'm more in what's the market cap of gold, potential replacement of gold, bin >> cathie wood also making bullish comments on ether and ethereum i know it's something you hold if you've got bitcoin, making these bold calls, you see that

ether could be along for maybe a similar ride >> again, the comment on proof of work to stake and really where we've had the conversation on ethereum is the platform is starting to find its home where people are starting to do that math that guy's struggling with. calculations in ethereum increments so as they're starting to evaluate asset prices, especially in the nft land, this is something you're seeing some of the commercialization of all this just back to the asset class and back to allocations and back to where both guy and bk were in terms of market cap to the overall market, i mean think about where assets are overall as long as the fed is printing money as they are and that the market cap right now of the stock market is in excess of every other bubble in terms of market cap to gdp, why shouldn't we be seeing digital currencies and the future of really what is block chain assets if anything, conservatively, should be trading near the top

of its current range relative to where it fits in that spectrum and i don't think we know, but i think we're starting to see this take off >> a lot of attention around salano the only one i know is a beach north of san diego are you a believer in some of the smaller cryptos? >> there's tons of opportunity out there. it's a favorite. that's one of my bigger positions. i think interoperaablety and web three. cosmos atoms polka dot is another big attention. there is so much opportunity in this space beyond bitcoin and ether. not to say i don't like them but there are real protocols out there doing big things i would say those three are my top picks. >> good stuff there. we are just getting going on "fast money" on a tuesday night. here's what's next >> don't look now, but a correction could be coming that's the big warning from mike wilson of morgan stanley and

he's got some tips on where to seek safety. plus, a warning to the scrollers. facebook under fire as reports show instagram may not be so ndiely we've got that and a lot more when "fast money" returns. ...aflac policyholders have been paid $37 billion directly...

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as always, the market giveth and take away. giving back all they gained on monday dow dropped nearly 400 points while the s&p fell to its lowest level in more than three week. that means they've dropped six of the past seven sessions and your next guest says this could just be the start of a correction coming. joining us now the mike wilson, chief u.s. equities strategist and chief investment officer at

morgan stanley good to have you on. i've got a chart here from tom lee. it's a technical chart and shows the 50-day moving average. i know you're not a technician per se, but it shows that every time we drop down a little bit, we hit that 50-day moving average and the s&p just continues to move hirgher only one time has it broke below that in the past year. obviously it did 18 months ago but it's been a very strong chart. what are you seeing now, fundamentally, technically, fund flows, whatever, that makes you think we may finally get a real correction >> yeah, thanks, brian look, i think, that's a good point. that's what's kept people involved here. the s&p 500 has been tremendous. it's been the place to be. and look, that's been really part of our call this year, which is that in march, you know, mid cycle transition, we said quality would outperform. that's when we got away from the cyclical trade and small caps and low quality areas.

there's no better index in the world than the s&p 500, so it's been a beneficiary of that it doesn't change, however, our year end price target. meaning eventually, the mid cycle transition will lead to a correction in the index itself so really nothing has changed. tom is right, but i'm right, too, because the mid cycle transition always ends with a correction in the index. so we'll see when it happens maybe it's this week maybe it's a month from now. i don't think we'll get done with this year, however, with that 50-day moving average holding because that's the pattern you typically see in this part of the recovery phase. >> we have some bank of america fund flow out today. i know competitor to yours, but we look at the data and it shows that investors ware buying in. money just seems to be coming out of the wazoo stocks are going to go down when people lose interest you see anything that makes you

think that money itself is slowing down >> we do at the top of the food chain is the federal reserve. obviously their balance sheet is still growing but the rate of change on that has been slowing since march. that was part of our greater change call. which coincides with the mid cycle transition it's not just the feds if you look at global m2 growth, it's decelerated to about 11 and we think it will be moving towards zero by the end of the yearwhen the fed gets on with its tapering program that will trickle down and then the liquidity picture will deteriorate. at the end of the day, calling the s&p 500 is interesting in and of itself, but at the end of the day, fund managers and investors are looking for things to do. the name of the game is to find the right places to be in that regard, the mid cycle transition has played out really well and avoiding certain things like early cycle recovery stocks and some of the low quality areas, small caps since march,

has been very helpful to your cause in doing that and finding places to go now is going to be a challenge. >> mike, rates, ten-year yields have been noisy, but we still find ourselves at one and a quarter percent understanding that the market probably wants that noise to continue in this range. in your opinion, what would be best for the stock market? ten-year yields below 1% or above one and three quarter percent? >> i mean, i'm absolutely in the camp that if you know, yields go and break new lows, then something's going wrong with the recovery and quite frankly, that's one of our outcomes that we're getting concerned about because the rate of change on growth, we think maybe challenged going into the first quarter of next year due to the fiscal cliff, taxes go up. some of these changes that are not so market friendly and maybe economically friendly either so north of 175 ultimately is a better outcome for stocks over a 12-month view because it confirms that the recovery is ongoing.

>> mike, it's tim. and you've tended to be contrarian at times and i think it's been really important to have that look and if you think about equity positioning now, the divergence we're seeing between where people believe the outlook on the economy, it doesn't seem to make sense and it's more consistent frankly with your call on a pullback how do you explain that cash levels are relatively low, that there's no protection being taken out, that people view liquidity as shangrila times and they're saying the economy doesn't look so good >> there really is no alternative when you're in an environment like we are, there really sisn't a place to go. the s&p 500 is an extremely high quality asset. it's almost like its own asset class. the nasdaq fittings that bill as well the money has to go somewhere. if you look around the world, a lot of indices, emerging

markets, china has had big problems, small cap indices here, have struggled the s&p is the beneficiary of that passive and active flows, too. so i think that's the answer we can stay in this sort of suspended state for now. i think the change will come, tim, when we get more disappointing data on earnings reinvestigations because economic data has been pretty bad. the surprise index has been terrible but the earnings have continued to come through. we think that's about to turn. revision is about to turn down they'll start to look for other places to go >> all right mike wilson of morgan stanley. appreciate the view as always. we'll talk to you soon take care. you know, tim, i'll go back the you because you're kind of the global emerging markets guy as well. mike is making the case for a drop in the u.s., but doesn't mean he's a stock hater. he's optimistic in europe, in japan. the japanese market by the way

has been rhed hot it's a big world out there your take on the macro call. >> we listen to mike on a lot of different ways and places and he has brazil on there. there are places that are later cycle that may have made a fiscal adjustment so even if the fed may still be the fed is the more aggressive of the central banks you could see growth we've seen whatever you want to believe is the pace of the delta variants and where it has slowed down the global economy, you are seeing economies in different part of the world open up. you are seeing earnings revisions strength this really get to where mike was. you know, normalize earnings in the u.s. is probably a time to cel sell equities. in other parts of the world, not only did they go into this cycle before that, but there are places where we haven't seen an earnings recovery across em for probably eight to en years

the cycle in india, brazil, even parts of asia that are not china, but in fact southeast asia is booming. these are places where you can find growth. you have to be careful about that dollar because i think if the dollar rallies, it's very difficult to be in those trades. >> thank you bk, globally, do you think the global markets are a better bet than the u.s.? do you agree with mike's call? >> i think he made some really good points here somewhat unusual for a top wall street analyst to be, you know, kind of, i don't really want to call him bearish, but to be less optimistic about it. so applaud him for that. for me, i think japan is the single best market out there and talk about where money has to flow to for the first time in over 30 years, money is reversing back into japan. that is trillions and trillions of dollars that is likely to go back into japan. as well they're probably going to have some fiscal stimulus no matter what party prevails

so to me, that's where i want to be globally. >> amazing, too, because japan, no demographic growth, little economic growth. you've got a stagnant population and yet the markets there continues to go up up and up on the nikkei 225. fantastic stuff. coming up, what is wrong with fedex? stock. it's been a hot mess down again today everybody is buying everything online we're going to dig in, but first, an important story for all you parents and kids and teens out there. facebook under fire following a report that it knows how much instagram may be harming your kids but will anything or anyone do anything about it? sty you have to hear, next - had enough? - no... arthritis. here. new aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme.

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welcome back to "fast money. facebook coming under fire new details emerge that instagram could be toxic for teens. now, you probably knew or suspected that, but what you may not know is that secret documents unveiled by "the wall street journal" revealed that facebook itself may have known it years ago ju julia boorstin is here with more on this shocking story >> well, brian, facebook has

found that instagram can be harmful for teens and senators just now announced a probe into what they're calling facebook's cover up of its platform's negative impact on teens and children this started with a report in "the wall street journal" which cited internal studies that facebook saying that the studies over the past three years found that 32% of teen girls said when they felt bad about their bodies, instagram made them feel worse and 14% of wboys in the u.s. sai it made them feel worst about themselves teens are a particularly important demographic for facebook andinstagram with a reported 22 million teens logging in to instagram from the u.s. every day that compares with about 5 million teens logging into facebook daily that platform's number of young users has been shrinking for a decade according to that report. now, instagram responding to

this article with a blog post that it titled using research to improve your experience. in this blog post, it said, quote, we're starting to understand the types of content some people feel they contribute to negative social comparison and we're exploring ways to prompt them to look at other content. on the heels of this, tiktok posted it is offering new resources to support the well-being of its community. so i think these social platforms are sartarting to fee the heat >> instagram once again blaming the users. they shouldn't be looking at this stuff because 13-year-old kids are so good at monitoring themselves >> well -- >> there was an article in "the wall street journal" about tiktok investigators posed as children and teens and created accounts and found that within a short

period of time, they were being fed on their feed, sexually explicit, violent content. i mean, these were accounts that were for children or teens or young teens that the algorithms of tiktok, they had 974 incidents of only fans and sexual content i'm not dunking on instagram it's all of them >> yes i mean, we do have to remind our viewers that instagram and facebook are different, tiktok totally separate committee and they have their own algorithms that feed off of different things and i don't know if i would say that facebook's blaming the user as much as saying it's aware that its algorithm might be part of the problem and it has to change it to make sure that it's not just feeding people more negative things and sending them into spiral. i think that expose on tiktok was shocking i did read it. it's a really fascinating read

and it raises questions about what these companies need to do in order to protect their users and in protecting their users, avoid regulatory scrutiny. they're closely connected. >> you're right and the last one is the bigger part of this whole story. that story on "the wall street journal" website i'd encourage everybody to go read it. guy, this is as julia said, this is, moments ago, getting the attention of regulators. this might be one of the only bipartisan things that anybody in congress can agree on, which is there must be or it seems like there is a definite path for big changes of regulation coming for these social media companies. agree or disagree? >> it's a fascinating conversation the only difference in my opinion between facebook today and tobacco ten, 15 years ago,

obviously the lobbyists in tobacco are pretty strong. i've said this 100 times on this show i find everything about facebook to be reprehensible. everything except the stock, which is what we're tasked to talk about but one thing i have mentioned for years now is the existential risk in my opinion has been and will continue to be if this falls under the purview of esg investing and people start to make a difference with their pocketbooks, that's going to be huge that would be my only concern about facebook because quite frankly, everything else that's come their way, they have thwarted >> that's such an important point. not everybody has to agree with you, i think what guy is saying, think about that with esg. there's environmental, social, and governance now we're talking about millions of teens primarily teenage girls feeling anxiety, depression, bad about themselves right? we've seen teen suicides on the

rise not just in the pandemic, but in the years before that as well. do you think this thing could get caught up, we're not going to own exxon, but also not facebook >> of course of course. and at times, the s and sg has reared its head obviously around some of the social issues in the minority communities and some of the issues i think that you saw facebook face about 18 months ago. first of all, the market prices facebook at a discount look at where it trades relative to other megacap tech stocks it's absolutely at a discount and it always has. it goes back to understand their core product is your data and back to some of the worst agree jous violations of your data and how they've been using it and selling it it's selling at a discount for a

reason what i find this to be nauseating is facebook using the terms, we are starting to understand this is patronizing and isn't accurate this is the whole point. i don't buy that they're starting to understand and they're always one step behind kind of trailing after where they see the regulatory environment going against them and they're often acting penitant as if they've been thinking about this long and hard they're only thinking about it because people have brought it to the attention and they're reacting i think that's why there's a total lack of trust in facebook. the company and the stock. >> it took congress years or decades to react after we knew smoking was so dangerous congress is poking around. an important conversation there. thank you. coming up, we'll change gears. fedex. the shipping giant hitting the skids today. later, no dice the big headline out of china. casino stocks cashing in some of

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what's wrong with fedex? company reports earnings next week not just today or next week. the actions have been terrible for a while in fedex what's wrong >> yeah, for quite a while so first of all, they had some issues years back. if you think about what happened during the pandemic, they were at the epicenter of it everybody had to ship everything everybody started to order online and fedex had that, but what happened with fedex is they got caught on two things one, they changed their policies to say that hey, we're not neces necessarily guaranteeing tomorrow delivery anymore. ups did the same thing as well as you have supply change issues. so now if i'm a consumer, i would say why would i pay a premium for fedex and things take weeks anyway. so to me, that's kind of the unde underlying macro theme it's down to 255 here. just based on how stocks trade, a lot of this was priced into

the stock between 235 and 250, it would not surprise me to see this thing bounce, but i personally would then use any bounce in fedex as an exit plan. >> guy, this was supposed to be one of those quote, no brainers. we're ordering everything online delivery trucks everywhere you don't even have to think about it whoops >> for me, it was a no brainer talking about it last fall and i think i power pitched in the spring at 295 or so. it's been straight down ever since. bk's levels are right. that 235 was where we bottomed out in february. it trades half the market multiple, but everything bk has said is spot on. supply chain concerns are obviously affecting this name. this point, i think you're smart just to wait and see what they say on the 21st when they report earnings you go back last quarter, a lot of analysts were tripping over themselves to raise price

targets anywhere from 275 on the low end to 375 is the high we saw. and quite frankly, that high-end number made sense to me in terms of valuation, but the market is telling a much different story right now. >> they were tripping over themselves now it just appears they were just tripping. coming up, a high stakes selloff. casino stocks getting crushed today, but one of our traders says now could be the perfect time to buy in because you want to buy the low, right? 'lexaiwh wrernwel pln ene tu so, who's it going to be? tom?

could be danny. guess it's on maggie. should we have another one? talk to us about retirement today. feel comfortable about tomorrow. massmutual.

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switch to xfinity mobile and save hundreds on your wireless bill. plus, save up to $400 when you purchase a new samsung phone or upgrade your existing phone. learn more at your local xfinity store today. covid crushing the casinos again today. new concerns from macau hitting all the stocks hard. chinese health officials rolling out new travel restrictions. china also planning a 45-day public review of the gaming industry including a look at the number of casino licenses issued in macau. tim, i think the second headline is probably bigger than the first because the chinese government's cracking down on everything from video games to banks, but lvs, how are you navigating today's selling >> the headline around regulatory pressure is one that i can't handicap

and i am concerned by that the headline that says china's basically grounded a city of 4.5 million in the southeast province because there's a zero tolerance policy is not a surprise and for investors investing in casinos, especially those who have flag ship locations in macau and other parts of asia and southeast asia, this is a game of being patient and travel mobility in the short-term hardly something to get excited about in fact, has been a headwind to these stocks 38 bucks this stock is within a whisper of your covid lows with a sense that look, i think it is a matter of time despite the fact that delta variants or the mu variant or whatever it is are going to be with us for some time las vegas sands has been selling off vegas assets they've also been investing in digital and online sports betting and i gaming and things giving companies a major multiple this is a company that to me,

with a short-term outlook, you've got plenty of pressure. the guidance they gave is very strong and there's a huge opportunity here >> buy lower we saw a lot of trading activity on lvs in the options market let's bring in mike to break down the options action. mike >> yeah, las vegas sands was actually one of the busiest single stocks. wynn was in that group as well you saw it trade almost eight times its average daily option calls outpaced puts by 3-1 and the most active were the january 40 strike calls. we saw well over 28,000 of those trade for about $3.62. that basically means that buyers of those calls are risking a little over 9% of the current price and we could see a significant rally of 13% of more over the course of the next four months >> mike, thank you very much and for more options action, tune

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final trades, tim. >> playing defense in walmart. >> bk. >> guy >> let it rip, you big stud. >> you crushed it. 'lseks for watching, everybody wel e you tomorrow night "mad money" starts right now. sw my mission is simple, to make you money i'm here to level the playing field for all investors. there is always a bull market somewhere and i promised to help you find it. "mad money" starts now >> hey, i'm cramer welcome to m"mad money." welcome to cramerica my job is to educate and teach and put it in context. call me or tweet me at jim cramer if only, if only we had something that we could hang our hats on. well then we could d