above 2% in yield it seemed like it gave a flood to the market and that is when we lost the morning gains. i don't know if the machines are programmed to trade off it for the moment. >> we are out of time here on "closing bell. thank you for watching "fast money" starts right now. live from the nasdaq market site in times square, this is "fast money. i'm courtney reagan in for melissa lee. tonight's line up. tonight on fast, hitting the like button. several stocks soaring today we'll break down what is behind the big moves. plus burning out cannabis stocks giving up early gains to close in the red. and coming up we'll speak with one of the biggest players in the space, true leaf joins us exclusively and later the crypto people, a rare copy of the u.s. constitution is about to hit the auction block. we'll tell you about the big bid

in the crypto land for this prized piece of america. but we start with the big week ahead for retail. walmart and home depot kick off things tomorrow morning before the bell with earnings reports and all reports in the coming days and expect s are high look at gains in some of the retail names over the past three months dillards up almost 75% and macy's higher by 64% and signet outpacing the msrp in the same period so how are you playing retail heading into this week? a big week for earnings and a head of black friday, my favorite time of the year. guy, let's start with you. >> we're fortunate to have this for you because you're expert in the space. but the first thing i saw today was the $1.8 billion stake that i think mantle ridge took in dollar tree. >> that got that space off to the races.

we talked about dollar gen but quite sometime but i look at costco and williams sonoma ahead of earnings and restoration hardware that sold off and is bouncing now and we're seeing it manifesting itself in some of the stock performances so i look at target and say partly sunny about to break out of this potential double top i think target looks the most interesting out of all of them to me. >> tim, what about you >> well, the setup is incredible and again, this is something that you kept your eye on many years. but this november more than others, so november is always the best month in terms of share price performance and you get a holiday pull and maybe this started in october inflation good for retailers not great for the consumer necessarily, but good for retailers so you have that dynamic, you have it offset against some of the earnings revision curve starting to get pulled forward, the holiday

pulled forward but right now i say you're cautiously very optimistic even though the srt is up over 9% so outperforming tomorrow, i'm very excited to soo where we are here with walmart. i think they have room for margin improvement that is where the business going. you're getting an 8% u.s. comp and even though i think the comp numbers have come higher and you get a valuation for a company that is not getting an e-commerce multiple and there are plenty of folks smt space that do less e-commerce than walmart. i think at 22, 23 times, i think this shock is cheap and target maybe still the name to buy because i think they set expectations, the second quarter they lowered the curve and the ex expectations and i think they may be outperforming on margin so it is a great time for the space even though it had a great run. >> dan, who what do you make of

walmart versus target? walmart does sell more groceries an the stock has been much more range bound than target, but if you look at the names, what are you doing in the space >> walmart seems a bit like a value trap when you look at the outperformance of target i know carter braxton worth had a note out this morning saying he thinks it looks good and set out for a break out and i think that is what tim is saying and you mentioned the point about groceries versus apparel tim sounds pretty excited, i know he's liked dick's for the better part of the year and this stock had a massive gap and then pulled back and they don't report until next week but i think those are the sorts of brick and mortar brands that you probably want to be positioned in, into the holiday season. that being said it is up 150% which feels like in a straight line here. but i think you do want to go for diversity in the bricks and mortar space here. >> and steve grasso, what do you

do when it comes to shopping to stuffing those stockings here with some retail names ahead of the that really big weekend that we still have coming for the shopping season? >> it does feel like we're a little overextended in the retail space, but i do agree with the rest of the guys that we can have at least a christmas season is probably going to be pretty strong. i think walmart and target are pretty interesting given what guy had said, the double top nature of a target right now it is either going to break down or break out i think they both look way too similar for me i probably would be a seller of both of them betting on them both breaking down actually. even though target is up 50% year-to-date, grossly outperforming walmart. on the other side of it, i'm in capri holdings based on valuation, cpri. i think that is the way i'm going to remain play and i think the stock is a double still from here >> wow, very interesting

and why capri holdings every say a tapestry if you're looking at the premium market in the collection of brands, why is that one more attractive to you? >> well you could play both of them i'm not saying that you have to pick or choose >> okay. >> i just know that based on the space with a versace or jimmy choo and the core holdings of a michael kors, you're getting an undervalued multiple by four to one against the rest of the group. >> fair enough guy, mastercard is putting out the forecast looking at the holiday week, this thanksgiving spending week saying that sales in total for retail will be up 10% and i think department stores will get a really nice bid with sales growth of over 40% which seems kind of nuts to me and i guess i just keep thinking these department stores better not blow it. so if you're playing a department, guy, any names that you think are most attractive here we talked about dillards having a big run-up and macy's too,

room left to run there >> well if you watch "fast money" and i know you do from time to time, tim has talked about macy's for a while now but it feels like there is some room left to the upside tim could speak to that. but i think some of the names where if feels like they're over expended, i do think there is room in a name like macy's. >> tim, i'm going to let you jump in here since guy pulled you in >> well guy is kind. it is simply a couple of things. first of all, the short interest in the stock is still over 15% and the balance sheet has been repaired, to the structural this company has broken ab it is going out of business that is not happening. the question is how relevant is a department store modell when 43, 44% of the sales are digital toward next year they've also rebuilt that with a lot more efficiencies in terms of the foot print and some foresty structuring out of covid. and i like it and still think

there are people who have to cover on shorts. we've talked about the active interest and potentially spinning off the e-commerce business as a driver and people like -- look, this year more than others i'm kind of fired up to go into macy's in harold square. go by and see sant yu and run through the other departments. peep have not done this in a long time and for that reason department stores are getting more of a look this holiday season. >> i don't think you're alone. people are excited to go back to the stores dan, i want you to get to jump in with the last comment we're looking at a lot of themes an supply chain and discussion and anything in particular you think traders ought to be listen for? >> i think that is a great point, courtney. there was a fax report insight by john buttered last week that highlighted 283 companies in the s&p 500 have talked about supply chain bottlenecks anthe disruptions from that. i would expect that to peak in

this quarter here over the next few weeks and then we start thinking about what do greater inventories look like. and mastercard and visa data up 10%, i would take a look at pay poll it got nailed. it was down 35% from the all-time highs in the summer. it had two consecutive disappointing quarters. it feels like it is holding it is a accident play into the back friday, cyber monday, whatever the heck it is, it seems like it is washed out here still a little expensive but maybe there is a lot of negative sentiment in the name right now. >> paypal down about 9% year-to-date our next guest does question whether retail stocks will see benefits from richard bernstein advisers, thank you dan. talk us through where you see the consumer and how you believe that will or will not play into

the retail stocks? >> well thanks, courtney you know, i would say i'm pretty mixed on the group overall i mean, at rba, we look at profits, liquidity sentiment i think there are some good things an bad things overall as mentioned, consumer still has a lot of money to spend and they will spend it into the holiday season so the numbers that these companies are going to put up are probably pretty good but as everybody is focused on supply chain issues and the ability to have pricing power, pricing power tends to go further up the supply chain. so obviously as consumer focus companies they're going to be at end of the supply chain and they're not going to have as many supply chain pressure and they are the most labor intensive. meanwhile, from a liquidity perspective, there is one sector that sticks out that tends to underperform as the fed is tightening as they start to raise rates which could come as early as next year, it is consumer discretionary sector and meanwhile, despite all of those dynamics, it is one of the most expensive sectors out there

so i think there are better ways to get cheaper growth if you're bullish on growth here which we are. >> hey, dan, when you look at the rates dynamic, i'm glad you brought that in. how much does that play into what your bets are, you're leaning a little bit more sick lickar than what you think of to be the next growth, quote/unquote environment to be. are you perplexed with the ten year and why rates aren't really acting the way you would think they would >> yes, steve, i am a bit perplexed to be honest i think if you look at the long-term trends since rates bottomed, it is actually been in a steady upward trend. as soon as it getz a little bit of ahead of itself, you start to see the downward pressure on rates but we're right in the long-term trend if you were to have one of the technical analysts on, on the show, they would tell you we're in this nice little trend channel and very supportive of furthermost

higher rates so i think the reality is the fed has cornered the market on treasuries, they own 15% of the 10 to 20 year maturities and that support will come out so i think that especially in the environment where growth we think will still be pretty good here, that should continue to send rates higher and sos that where we're positioning in the book. >> what are your thoughts on inflation, where is the hottest, is it transitory is it and then the follow through for some of your recommendations if you're looking at sectors >> yeah, i mean the whole inflation story, i think the transitory debate is dead. i mean, i don't know why even the fed itself has admitted that it is no longer -- it is not transitory so i don't think that is the a debate and i think it is here to stay and the headline numbers could eventually start to come down toward the low 3s but i think if you step back, the underlying trend on inflation is still higher you still have the ongoing

supply chain issues. woof been reporting on cnbc all day the number of ships outside of the long beach/l.a. ports as it continues to go higher. so that temporary part of the story hasn't abated yet. but meanwhile, the bigger part of the cpi components that is the shelter component, that is a big chunk of what we spend on, that will continue to move higher and then put those aside, all of the macro forces suggest that inflation is probably going to trend higher. if only because the economy is tighter than it was a few years ago before the pandemic even hit. and so i think that you want to still position for higher inflation and i think that is one of the reasons that we're overweight energy in our portfolios is because i think that is a great way to get, you know, that inflation hedge in the portfolio, especially the cheaper valuations and a good dividend >> got it. dan suzuki, thanks for joining us here tonight. tim i want to toss it over to you. what do you make about the thoughts on energy as a good way

to play inflation being permanent, not transitory? >> look, i think we still have this reflation trade going on. if we thinks rates are slowly moving higher, even if steve and dan with perplexed, think you have a case wherea lot of hard assets are moving higher so i think the dollar is something to be concerned about here i just think that the supply demand imbalance and lack of swing capacity in anyplace other than opec and as long as they stay committed with opec plus, they're going to have the ability to hold prices up here and right now i think there is a little bit por political gamesmanship in here think energy stocks look great i've lin long oil sfrs services and integrated and every day that oil stays up there is more and more drilling going on it is underperform the maybe for a reason to the point. recounts have more than doubled from the last 12 months so like oil services. >> we're following a developing

story here out of the white house. president biden is about to kick off a high stakes meeting with president xi jinping kale law is live with the latest what do we know now? >> reporter: president biden is expected to hold that virtual bilateral summit with jinping at 7:45 eastern time. this is the closest thing to the first face-to-face meeting that the two will have under the biden presidency don't expect any specific deliverables to come out of this the senior administration officials said that president biden initiated this meeting specifically for the reason to make sure that beijing understood that the u.s. wanted to avoid con frontation even as it challenged china's behavior on the world stage among the areas why he will raise concerns, taiwan, technology and human rights but the president wants guardrails around those issues and seek cooperation on other areas like climate change and trade

although officials said do not expect the u.s. to raise issues on tariffs or the supply chain this meeting is expected to last several hours into the evening and the press secretary said today there should be more information provided by the white house at its conclusion. but interestingly, the timing of the meeting is no coincidence. today you saw president biden sign the $1.2 trillion bipartisan infrastructure deal into law the president's foreign policy since the campaign trail has been rooted in projecting from a position of domestic strength outward for these conversations with global partners passing this bill and signing it into law and initiating perhaps $1 trillion of investment into this country even over a number of years is something that the president aexpected to laud in this evening's conversation and show china that it plans to challenge it here at home. back to you. >> kayla, thank you very much. i know you're following that for us guy, what are you watching out

of this call it seems like it could go a lot of directions but nothing with the tariffs or nothing with trade of any real substance? >> i'm watching, i want not the call itself, but then the subsequent commentary post call and see what, my unfounded concerns has been what is going to happen with china, this china/taiwan situation which is getting worse by the day but the rhetoric clearly hasn't gotten any better do we have any, let's say, do we have any cooling there in terms of some of the rhetoric. that is bullish for the market i don't think it is going to happen and i think the market is underestimated how poorly things could go in this continued tension between china and taiwan >> conversations seem to be very important no matter what the topic is between u.s. and china. and coming up, ether, a rare copy of the u.s. constitution hitting the auction block this week and one group is making a big bet that ethereum could help

perform the more perfect union but first boeing shares take off more than 5% is it clear skies ahead, we'll break it down when "fast money" returns. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq

welcome back to "fast money.

shares ever boeing taking flight at more than 5% and leading the dow. the company saying it is quote getting close to resuming deliveries of the suspend the 787 dreamliner model it also secured a deal for emirates for two 777 freighters. that is the good news. the bad, the stock is still down 16% from the march high and trades hard of the peak set back in early 2019. so is this a start of a bigger turnaround steve, kicking it off with you >> yeah, so i was going to touch on exactly what you had said about the down 16% from the march high all of the short-term technicals have rolled over it is bounced slightly i shouldn't say slightly, it is bounced off the recent october low and taken out the october high i think things are possibly turning ash around for them. it is about free cash flow for them i think that worst is behind them so, yes, agree. it probably is a buy at this point. >> mr. nathan, what do you make

of boeing here >> i don't reallyhave much of take on it i'm happy for the chinese to try out the 737 max before we do, i guess. would you like at some of the airline stocks here. jet blue had the big gap and had at 14 and went to 16.5 and filled in back to 15 i like jet blue from the long side so i think airlines still look really washed out and are not prepared for the reflation trade that tim is talking about or at least they don't act like they're ready for it >> tim >> i tell you what, i think boeing is going a lot higher and i think the technicals look interesting. i think at $225 you broke through a down trend from june which is part of this number we're all talking about, how much is pulled back. decidedly. so again decidedly to the upside the fak that 787 and 777, orders is where the margin is for boeing as you get out to '23, the

multiples on '22 are tough and as you get out to '23 and healing the industry and the boeing balance sheet overall from a period where they have to borrow money this is a company that makes from $6 a share next year to probably $9 a share in '23 so suddenly at the current levels you're trading at around 8.5 times. that is not expensive and the free cash flow yield is why you want to own boeing in the past and it is coming back. so again big break out on the chart, i'm long the name so i think it is positive >> all right we are just getting started here on "fast money." here is what is coming up next. >> in crypto we trust. a copy of the u.s. constitution up for grabs and one group is making a bid using edthereum. so could crypto help perform a more perfect union and po and the traders are getting to know the social stocks as they fly high

you're watching "fast money" live from the nasdaq mket tearsi in times square. we're back right after this.

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we are morgan stanley. welcome back to "fast money. a rare piece of american history is headed for the auction block. sutherby's auctioning off a u.s. constitution and a group of crypto investors want in the organization called constitution dow is raising money using a crypto callet to secure the winning bid so far they've raised 800,000 ether which is the equivalent of $3.7 million joining us is alice ma and packy mccormick and a contributor of

the project. why in the world do a bunch of crypto investors want to get together and own the constitution and what are they going to do with it? >> sure, i think it is an obvious important historical important document for anybody who lives in the u.s., has immigrated to the u.s. or lives in a democracy around the world. this is one of 11 existing copies of that foundational text and for the first time in 33 years it is going up for auction at sotheby's this thursday night. so i think the reason that this group wants to buy the constitution is because it is a document that represents i think a lot of the same things that the web three eejos shares with the united states which is a belief in democracy, a belief in shared ownership, a belief in governance, kind of and by and for the people and so organizing a dow in order to pull funds in order to buy this document and bid on it at the auction. >> alice, this is very interesting to me.

i find it quite fascinating. if you're able to secure the winning bid, with this consortium of crypto bidders, what happens to it where does it go who actually owns it and how would you make decisions as a group? >> so, it will be owned by the dow. which means that anyone who buys in they get a portion of the governance token of the dow and then they could use that to again to vote on where the constitution should actually be. we are lining up a list of museums that we wasnt to work with and let the commune decide where should it live and which museum do we want to choose. and all of that is -- well i won't go into the legal details. we have that figured out as well >> packy, happy monday thanks for joining us. >> happy monday. >> if this is successful happy monday if successful as this constitution dow and you do buy

this and go by the governance of the dow and this thing is -- it is a philanthropic endeavor, how do you see this as an example of disrupting all of the things that you write about on not boring every week about web three what is the immediate applications in the companies that we talk about every night on "fast money." you know what i mean, where is the disruption going to happen next >> i think that the disruption kind of happens a little bit slowly i think what is important about this is i got messages throughout the day from people saying you've written by web 3 and written thousands and thousands of words and i didn't get it when it was nfts or digit digital items and seeing a group come together to buy this artifact and make decisions on it together and form a dow around it, i think it just shows people what is possible and so it is no longer just digital objects although i think that is a really important piece but a dow could pull funds and theoretically one day buy a company or certainly buy real estate in different types of

assets so i think that the term dow might make it sound a little bit scarier and more futuristic than it is it is a group of people coming together around a shared mission, orchestrated and governed by tokens and it looks an awful lot like an a digital verse of an llc. >> alice, i have a two part question does sotheby's accept ethereum and if you are not, what happened to all of the value of the ether that you've collected so far >> i don't want to speak completely on sotheby's be half but ore plan is toe transfer everything to usb before invoice so it is going to be paid in usd. sorry, you could repeat the second question. >> if the group does not end up being the winner, what happens to the money that is already been collected, money, ether, usd, in whatever form it takes at that point.

>> we have set up like a smart contract set up where we guarantee that people could withdraw their funds from the contact if they so choose. they just give up their tokens so everyone could get a refund. >> this is very fascinating. we'll be following along to see what happens on thursday let's trade it tim, i'm going to let you jump in here. >> well, first of all, it certainly ether and what it means in terps of people thinking about buying stuff not in bitcoin but in ether, we've been hearing about this in nft land for months and months and how the commercial backbone of off of this platform is not -- is very significant here packy talked a little bit about kind of the governance dynamics an the significance of this moment in time and the dow sounds to me like how a digital stock market could use using the block chain. and so very, very interesting and i think we might be seeing the future here. >> guy, i find this fascinating

because as point was made, it is a physical item. it is an actual pose of history. it is the constitution it is not a digital piece of art like an nft. does that somehow make all of this a little bit more real, a little bit more tangible to people that weren't before buying into the cryptocurrency market >> absolutely. i think that is exactly the point courtney i'm glad you brought it up because if in fact they do em e -- emerge victorious, this is evening news stuff they will lead with this or one of the top stories on the 6:00 news and i think people will say what going on here so i think you make a great point. this is one of those things where people will take notice and it gives the next tail wind to a space that probably doesn't need a lot of tail wints but it is about to get another one. >> good thing we're bringing it to everybody here first. they already have the news they don't have to wait to catch

up social climbers and the social media stocks making big moves higher today we're breaking down that trade ahead. and the big sell that sent one cybersecurity stock plunging today. we'll bring you the name but you have to stick around for "fast money" after this. to make progress, we must keep taking steps forward. we believe the future of energy is lower carbon. and to get there, the world needs to reduce global emissions. at chevron, we're taking action. tying our executives' pay to lowering the carbon emissions intensity of our operations. it's tempting to see how far we've come. but it's only human... to know how far we have to go.

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welcome back to "fast money. social media stocks topping the tape today take a look at shares of pinterest and snap both jumping 3% and meta and twitter up at the close. steve what, is your take on these moves today. kind of sneaky upside mod movers >> i think in the social platform or when we are looking at a pinterest or annetsy, can they survive the post pandemic environment and think in large part there is winners and losers, they figure out a way to survive. when you talk about a name like snapchat, i think it is a matter of basing again. where fell out of favor, maybe growth was losing the bid, and now you're starting to see people move back into those areas where they figure that they've sold off just enough now

and they could get back into it going into year end trying to hit the cash register one more time because i don't think it is over for growth as a blanket statement. names like snap and twitter and i think have a long runway ahead of them as well. >> dan, do you think that is true >> yeah. listen are must undermonetized, do they run the risk of having upstarts in this web 3 world that our friend packy talks about and in a decentralized sort of web. of course they do. i don't think they're done here. i think the results of snap were hit by some of the apple ios changes that were made and i suspect it bounced back. and so does twitter over the next few months. i thought that pinterest was interesting today, there was a lot of call activity it looks like some rolling but it was november and january where there was some action there. and this is one where if you recall back when paypal was maybe floating that $45 billion

takeover, i said at the time it didn't make any sense about paypal but it might make a lot of sense for someone like walmart. so when you see that sort of call activity, i suspect it is probably people speculating about another takeover bid for pinterest. >> interesting i was surprised at how many stocks have mentioned the apple ios for a drag of what they've seen posh mark surprised me and a buzz kill. crowd strike falling 10% after morgan stanley had a worst drop since 2020 strengthening competition and expecting slowing revenue growth for the company. tim, what is your take here for crowd strike >> well, first of all, bravo for an analyst team that takes a stock that has been scorching hot and looked at a 25 times ev to sales and said we're not getting on the secular bandwagon and putting a buy on a stock that is a great company, it doing a lot, it clearly has been

taken on the enterprise and broadening at a time when obviously security and cyber issues are dominating the headlines every single day but the competitive land scape is not static. the arr growth of 40% to 50% them people think will be challenged when -- i heard some of the dynamics here of the channel checks from core customers is there are other people out there doing the job so i think it is impressive nor an analyst to downgrade the stock after it went up 100%. you wouldn't think it would about be that tough but that is not something we see often. >> guy, you were nodding your head as tim was speaking to some of those points? >> i admire the analyst call whether they are right or wrong remains to be seen but they're trying to get in front of something at the levels they are, instead of doing it ex post fact or so i admire the call

i don't know if it is right. all of the stocks have gotten expensive. we talk about crowd strike and also mentioned palo alto networks and z scaler, all stocks have been in a word parabolic, but i do admire analysts that come out and put it on the line and we'll see how that plays out by the way, think the space is still in play. maybe the entire space got ahead of itself. >> cramer wrote it b it node's investing club newsletter. check it out and use the kbv r code on the side of your screen. well, coming upk we're rolling into the true leave kim rivers is breaking to down next and shares of wirn jumping after the nix plans for a merger deal and that is options traders rolling the dice that an even better deal is coming down the pike hthe tas when "fast money" returns

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gains after reporting earnings before the bell closing out the 15th consecutive profitable quarter. for more on the quarter, let's bring in true leave ceo kim rivers thank you very much for joining us here today. i saw that the gross margins took a little bit of a hit when it comes to the year-over-year comparison is that what disappointed investors at the end of the day. >> absolutely not. and we continue to have a leading margin and i think folks were surprised by us posting 69% gross margin and the results in today. i don't think there was much to anything that was disappointment on the quarter i think as typical sell the news event with the press event with congresswoman mace this afternoon which we're excited about and see it as a macro positive catalyst. but as far as our quarter, we posted record revenue. record ebidta. it was a beat both top and bottom line and then again

exceptionally trong margin performance as well. so i'm really proud of the team this quarter i think it was a quarter with execution. we closed harvest, the harvest transaction in the middle of the quarter as well. and we now have an industry leading footprint with over 155 dispensaries across 11 states and it was a great quarter and in the afternoon we saw a broader market sector sell-off which again is a typical sell the news event >> hey, kim, it is tim you don't need to play "fast money" trader. it was a great quarter you're stock moved over 30% week over week and it was a crazy week for the sector. so i agree with the assess of great political news is something that had been priced in in fact, i would focus on $316 million in pro forma revenue which puts you toe-to-toe with cura leaf as the biggest company in the space so i'll ask in the context of d.c. maybe moving faster you're a company that is cash

flow jenive and you have cash in the balance sheet, does this make you want to get bigger faster you're already at the front of the line you made a big transaction, but you're in a position where you could do more and washington may be making it that much more interesting to move faster >> yeah, absolutely. i mean we love the optionality of the combined footprint and where we sit in to your point the fact that we do have a very not only do we have a great balance sheet today, but we are generating exceptional operating cash flow on a quarter by quarter basis. so certainly we remain eyes wide open in terms of tuopportunitie ahead of us and focusing on our core business so we could continue our track record of profitable growth. >> kim, when it comes twiet that you've laid out your strategy and your physical locations,

you're looking at this as more of a retail hub strategy why is that better for you in. >> i think good going back to the concept of optionality, we think it is important to look at and maintain efficiency across markets in our current landscape which is fragmented and given the federal regulatory constraints can be difficult to achieve profitability on a market by market basis so ensuring that we have alignment across regional hub as lous us to be more efficient in our existing markets it also sets up to take advantage of federal reform when that occurs and we don't think it is a if, we think it is a when so having regionalized operational scale will be important and increasingly important as the landscape shifts over time >> so, kim, it is steve grasso when you look at the environment, where do you see the sole cannabis space in five

years, obviously a lot of the d.c. reverberations that will impact the industry are going to be known at that time. do you see it as a handful of players or do you see it as ubiquitous through every state and more players than we see right now? >> yeah, you know, obviously a lot of that is dependent on regulations and how those regulatory framework unfolds i do think that the analogy to alcohol is a good one. i think that there certainly will be room in the eco-system for a variety of players both big and small and on various parts of the supply chain. i do think that you will have some significant companies and significant brands that resonate within the space across the u.s. and that is certainly that is where true leave will be positioned and over the next five years i think it is important to note that while the federal conversation is exciting and we

anticipate that will be change there and meaningful change there over time, that our growth nor really the u.s. cannabis growth storey is not predicated on federal reform. you have companies such as true leave who are extremely successful, extremely profitable, growing on a amazing year-over-year basis with 64% stand alone growth year-over-year absent federal reform with the restrictions on banking, and the restrictions an on surd tax rate that year under. so while federal reform is certainly going to change the game to the positive there are a lot of near term catalysts that we have to look forward to at the state level as well. >> kim rivers, ceo of true leave, thank you very much for being here with us >> thanks. >> okay, we know that you're hot in this space. what do you make of the results today and the trades from here >> well, full disclosure, true leave is a big position in my etf. so i like the story. these numbers are great. we were on the story all week, a week ago you really had some

headlines out of d.c potentially extraordinary but i think people do have to understand that the federal path is still one that has challenges and today again nancy may -- congresswoman from south carolina who brought forth the state reform act is in a running into some headwinds within her own state. but the bottom line here is the legislative path for the sector, it is not about if, it is when and i think the -- what you saw in the market of the last week when cannabis stocks moved from 3:00 p.m. friday november 5th through last friday and into today, in many cases the biggest companies in the sector moved 30% to 40% that is spg that you can't do without taking a little bit of a breath and let's take a deep breath because cannabis is a long-term growthtory it doesn't need to be made up in a week's worth of trading and i think the foundations are built there. >> big moves thank you very much. well, coming up, options traders rolling the dice on wynn that stock hitting the jackpot

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welcome back here is a sneak peek at the cramer cam jim is out west talking with the ceo of twilio. catch that interview at the top of the hour on "mad money. well check out wynn resorts surging after they nix a deal that would have taken the online betting unit public through a spac sparking optimistic bets that another deal might be in the works for wynn so let's bring in mike khouw to break down the action. what did you see here today? >> hi, courtney. what we saw was called outpacing puts by 3 to 1 on about 70% above average call volume and the most active calls expire this coming friday nearly 5,000 of those traded for an average of about 1.11 a contract and buyers are risking a little over 1% of the stock price on best that the stock rally could continue because the upside break even on those options is up a little bit over 3% by week's end

>> interesting stuff thank you, mike. let's trade it dan, what do you make of the action in wynn >> i think mike lays it out clearly. you're not risking a lot but i don't have a lot of time to earn that out so if you think there is other pid bids or like the change that might be happening in the story as we get into 2022, if you want to define your risk, i would look at longer dated calls or call spreads and i know that these guys are looking at this chart and saying it is about ready to break the down trend that doesn't look too different than the one tim just outlined in boeing so it looks like it is ready to fill in the gap back to 110 or so. >> for more "options action" tune into the full show on friday at 5:30 p.m. eastern time up next, it is already time for your final trades.

it is time for the final trade. la let's go around the horn tim. >> courtney great having you this week with retail. an i'm a buyer of walmart in the

numbers on a better comp and i think higher gross margins guy, by the way, yanks just picked up the mets castoff manager. hope you like that >> steve, we're going to you next. >> son os well off the recent highs but they get to shine going into the holiday season. seasonality is their tail wind sonos. >> dan >> yeah, so we're talking about the social name. that snap and that is down 25% in one day after the rilts was really surprising. stock is finding a bottom, maybe it takes a move and tried to fill in the gap so i like snap. >> and guy, you have a special shoutout before your final trade and i don't think it has anything to do with baseball >> it is nothing to do with baseball everything to do with one of your many fans they come in all shapes and sizes. here is a picture of taylor dressed at harry pointer this dog has not missed a "fast

money" in the last three and a half years, all through covid. a big shout out to harry pointer on the back of that, what else could my final trade be woof and that is pet co. >> thank you for watching "fast its eamoy. igrt to be here starts right now my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now ♪ ♪ hey, i'm cramer. welcome to a special west coast edition of "mad money. welcome to cramerica other people want to make friends. i'm just trying to help you make some money my job is not just to entertain but to teach so call me at