pfizer three shots, all of that good, but next week it does turn to the fed we have a fed meeting. now the expectation is a faster taper. >> and the index is back to where we were before we ever heard of omicron so there's no reason that good news on omicron should matter that much. >> cpi, too, this week scott, thank you. that's going to do it for "closing bell. facebook bethins right now. >> thanks very much guys, overlooking glorious times square in new york city, this is "fast money," the big show tonight's trader lineup, guy adami, tim seymour, steve grasso, and jeff mills you're seeing them right there tonight on the show, the reopening rally charges on airlines, cruise lines, casinos, you know them, all jumping today, even as the broader indexes shrug off a bit. what these moves say

plus roku rockets. the streaming stock seeing the best day in over two years one of our trader says the rally is overdone. why he's sounding the alarm. and crypto takes center stage in the signal stellar ceo danielle dixon joins us after her congressional testimony to break down the future of regulation in the crypto industry, and what she makes of all the roll tilt currently going on we start with the other big hearing on capitol hill, as you're seeing there. instagram head just wrapping up his testimony before a house committee. let's get out to yule gentleman boorstin for the details what is being said and what are the implications julia? >> well, it was his first congressional testimony, and adam mosseri defended the efforts to protect teens on the platform, saying it's in the

company's best interesting to make it a positive and safe one. senators pushed mosseri whether the incentives are at odds with what's best for teens? >> have you not done things to get more teenagers interested in your product are you not worried about losing them to other platform you better tell the truth, under oath. >> absolutely, senator senator, we try to make it as relevant as possible for all ages teens do amazing things on instagram every day, but we also invest, i believe more than anyone else, in keeping people, including teens, safe. >> reporter: mosseri was pressed by a number of different senators whether he would agree to permanently halt instagram for kids he said, no, it makes sense to

give kids and teens a service just targeted for them he repeatedly said that inns that gram should not be the only one criticized, and it's doing more than its pierceers, snap ad youtube. let's trade it, folks make, tim seymour, we'll start with you on this one. is there any reason why investors shouldn't shrug this one off like the other threats in the past? >> first of all, if you look at facebook relative to -- it's significantly underperformed it's underperform apple by 37%, microsoft by 33% google, i think be 25% even amazon by about eight it's underperformed in the qqqs or nasdaq by about 800 basis

points this year, even the s&p clearly there's an overhang that's very cheap relative to its peer group you know, karen's a big facebook fan. she's right to appointed out how cheap it is. when you look at the prizing of the ad growth, there's very little to tell you their core business is under pressure in fact they continue to be the bold bracket way to play in both digit at ad and social media i've said this for a long time, and facebook's largely done fine as you said, it's been resill yercht in these types of testimonies, but the reality is this is a company that does trade at a discount for i think a handful of reasons, close the fact that people have some challenges on the esg side guy brings in up al time i just think there is some kernel not by exist inchally about

where this business model is going, but this is a management team they're not putting a premium on. >> steve grasso, it says the forward price-to-earnings ratio is 23 times. that doesn't seem all out of the realm of reason to tim's point about the valuation. is it attractive, given the pullback and the underperformance that you've seen, one that says, hey, you know what? maybe it's time to wade in >> this is one that i definitely have been negative on. i think both sides of the aisle political, are going to be gunning for facebook or meta but, to your point, i think it's a great one, first of all, technically this is a great entry point. this goes back to the may 2021 low, 298 the stock stopped at that 299 level, so technically it's a great entry point.

the then, dom, to your point, what valuation does the metaverse get? it's got to get more than facebook's valuation if they're forced for break up, some will say the sum of the parts are worth more than it is right here so we can all hate the platform. i'm speaking generically i don't think that anyone is crazy about the platform i don't think anyone is crazy about what it does socially, but when you look at the stock agnostically, it looks like a pretty good entry point to moe. >> jeff, along those lines, this is something you do, you manage money, portfolios for a living is meta one of those names that goes on a shopping lift because of that underperformance that we have seen? >> i really think that it does to steve's point it's one of those stories where you don't have to like the story to buy the stock. i think if you have more than a couple year time horizons, this

becomes a blip on the radar s i don't necessarily understand the pushback i certainly want my kids on youtube kids advise the alternative. i don't quite understand some of the issues going on. that being said, clearly there could be some improvements, but overall from an investor standpoint, tim pointed out all these things, but thinking about the faang stocks, solid afternoon per user growth, strong free cash flow. i notice there's this argument that the metaverse is plenty to be decentralized and people will not access it through a centralized platform i don't necessarily agree with that i think facebook has a great advantage.

meanwhile, another banner day for the reopening trade. stocks like the cruise operators. cruise like operators as well. this is on a day when the broad market largely shrugged. the s&p is just up 0.3%. so how do you make sense of the apparent disconnect that we're seeing is it maybe this nothing that this is a pause that refreshes, or is this a pause that maybe signals another down leg here? maybe, jeff, we'll start with on you this one i tend to kind of feel as though some of the action has been confusing, for a lot of folks out there. what does an investor do in this kind of environment with markets still near record highs. >> i think part of the reason

it's so confusing is there's the index and then everything else going on under the surface that really was where the momentum was, so my guess is, as we move past emphasize these new variant fares, the economy is -- maybe into '22 through the first quarter, i still think that there's a shot clock on that trade. i think once we get into the second half of '22, you're in a situation, leading economic indicators start to decline a little bit ultimately you see a compression in p.e i think so steering away from some of these reopening names that maybe don't show some of the stable profitability investors are already starting to build up the more profitable

sectors, really across the board, whether you're talking about growth, value, small cap, it's the profitable companies doing well tech just happens to have the most profitable -- that's where you want to start to my great toward >> i know that, guy adami, i think you're back with us, albeit on the phone, i think you have heard the conversation so far is there a case to be made to jeff's point, that we need to hunt around for those companies that actually make money these days, as opposed to banking on future growth somewhere down the line >> i think that's absolutely correct. you know, a number of times with human beings as the variant, it's extraordinarily putting -- but we're tasked with trying to figure out how the to be could -- learned to deal with

the virus. i look at a name like -- trough right around i think that friday after thanksgiving -- i think it's a -- moving forward -- it's going to a -- being there is a -- >> all right guy, we're going to work on getting your connection back again right now. we're getting some static on our side over here as well. >> it's amazing, dom, guy can take credit for saying anything on that call a couple days from now, he could say that's what i was pointing to. >> it was just the static on the phone call [ laughter ] we're going to move the conversation on as we work fog guy back in our next guess says focusing on -- 4let's welcome in

cwp. this is a great conversation we said to know -- filling in for guy here for a few minutes is big shoes to fill, dom. thanks for having me it's a market where you need profitability. there's stocks to buy into when i think about the theme for the day, i wok up this morning just wondering about the breathtaking beauty of science, and how amazing it is. what used to take months, decades, years to achieve, we can now do in weeks, if not days right now to your point, i think the markets are looking past the omicron variant, looking past the next and next variant, and more than anything else we're focusing on next week's fed meeting. will we see it increase in the speed of the taper will we see interest rates

all of those things are going to happen and they'll all go back to jeff's points. >> hey, it's tim, welcome to the show, how are you? we both run etfs for amplified you find thinks he-watch employee, with the fed in play, tolely agree that there's some sense that more fed equals more volatility i say this every day and the realm of vol we've had may not be the norm, but 16 vol is also not the norm for the outlook, for again, the companies that are higher multiple, and because the conundrum are companies trading really in most cases north of the five-years ranges.

>> i was on on black friday talking about black friday sales and leftovers getting used to this volatility is something that would be the theme not only into the year end, but certainly into 2022 and beyond the only way they stocks can go higher, at least not the stocks that we want to invest in, you know, the herd, masses, they may look for the more speculative trade. smart money, fast money crowd, you look at things differently even more deeply, tim, like you said, i'm looking for dividend payers and growers

i need to be darn shirr they're going up so it's all about quality and profit profitability. i think it's the perfect theme for the day. thinking about the faster taper. are you thinking about that as a guaranteed quicker rate hike sce scenario our just -- because i've been kicking around the idea we go ahead into the second half. >> our thought process right now is we're going to see increase in taper, because it's easy. the economy can ham it they can handle a taper to double the pace of this pullback that leads them to the ability to put interest rate increases

at their fingertips. so my thesis has been we'll see two rate hikes next year what if they accelerate? we forecast even further into the future and say we've had five or six rate hikes coming off a zero base. that puts you in the fed funds rate, which from a relative standpoint, a historical standpoint, it's still practically free money i think the idea of them having this pluckish tone to them is simply because of, to your point, this inflation running. we saw the cpi last month at a 30-year high, we'll have a print on friday that may even surpass that it's a capitulation point, where maybe they're transitory, that transitory thesis may hold true, at least a little bit. maybe the supply chains continue to increase. maybe inventory gets better.

we can handle some inflation, some higher interest rates we just don't want rampant inflation, jeff, when we look at next year, to your point, we have to expect them to raise rates, and we can handle it. wall street doesn't want to see it, but the economy can handle it. >> all right a lot to take in, for sure i'm sure traders were handicapping it in real time please come back and see us soon let's appreciate it. steve grasso, i'll go to you on this one. are think any particular trades, any particular companies, stocks, asset classes that stand out to you giving what you think from what we've just heard from kevin? >> yeah, so the major takeaway is you want to be in the value basket, and along in that value basket, and i they have jeff had alluded to it earlier, there's a bunches of tech names that fit into that value bucket as well so value versus growth, apple is

both the other names that i'm looking at, tse, if value starts to rip, this is a stock that is buying back their own asstock. they're going to end up buying back the company themselves, so this can rip off to the races. another within, wrk, this is corrugated boxes if the economy is coming back, these value plays will rip, those handful of values/growth tech names will rip as well. it's been an underperformer. guys, thank very much. coming up. crypto ceos are testifying on the hill today is this landscape about to change for crypto? we'll dig into the details in a few moments. roku surging today after

striking a deal with google. can the momentum continue? one trader does not think so we'll find out why, with the stock up 18% today, when "fast money" retur aerhi nsft ts. people, with quickbooks live someone else will do your books for you. they'll even pair you with an expert bookkeeper like me, who knows your business. knows your business! expert bookkeepers who understand your business. intuit quickbooks live bookkeeping. what's strong with me? expert bookkeepers who ui know when i'm readyss. for a rest day. so i can be ready for anything... tomorrow. find out what's strong with you with fitbit sense and daily readiness.

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welcome back to "fast money. roku top the tape today after a deal was announced with youtube. it was the stock's best day since august of 2019 jeff mills, you flagged the move today. what's got you either hyped up our concerned about it i saw the move still my reaction is to fade the bounce.

not necessarily a good thing for a stock trading where it is. i think ultimately over time you have viewership, ad spending, all these things will consolidate on the leading streaming platforms. i think that's going to serve to pressure on a service like roku. of course, you have to think about valuation against. looking out to the out years with a growth story like this. you're talking about 40 times 2020 ebitda estimates. i just don't think this business can support that kind of valu valuation. >> guy, because we've got you back, roku, a monster move is there anything that gets maybe excited about this stock >> let mess mention, tim knows this, i think it was 1982 the police released "ghost in the

machine. i've had one i got rid of it, and i'm back. everything jeff said is spot on. everything he mace on a fundamental basis cannot be at all -- this stock went from 490 from february, again in august, to 200 pretty much in a straight line you can't expect a bounce. i think there's a chance you have a 50% retracement in this name and you get it up to about 340, 345 or so you sell it there. i think people will be chasing for a while. we've seen these moves before. i think we're getting started again. here's what's coming up next on the show? >> crypto ceos head to the hill as regulation looms over the space. what's next for the crypto landscape? plus stretch out for this next trade we're leading into lu lu ahead

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[clunk] [ding] ugh... there it is, the crypto trade. welcome back to "fast money. six crypto ceos on capitol hill today, testifying as regulators seek to understand things like stable coins, other digital assets, stellar was the only blockchain network invited to this particular hearing, as you can see there, and denelle dixon testified today. and she joins us now

thank you for taking the time here on cnbc can you basically take us through what was the substance of the actual conversation that you and these other ceos with this these lawmakers what was the biggest concern what were the things you were trying to answer >> thanks for having me. today wall street a really good day. i think it's the first time we directly interacted with legislators. today there was a lot of focus on stablecoins, particularly the usd-backed stablecoins, and statute tore language that could be put around that to create more regulation that could be focused on how stablecoins should hold their reserves so that was a big focus. there was also you a lot of information and education around

how blockchain works, what happens with respect to -- two the of ceos were from trading plat platforms it was a five-hour hearing, so really a lots of exchange there i know, i think that's really important, and what a lot of folks i own some lumens in my own personal account so maybe walsh us thus. >> we wanted to be focused on what happens today with blockchain i highlighted three particular use case leaf global, it is actually focused on refugees and on

cross-border -- folks have to cross the border with goods. the ability to be able to put their money and their value into digital assets, and to carry that across the border where they're very, very vulnerable as they cross the border, it's an important use case once they get across the border, they with leverage digital payments to pay any bills that they have, or be able to send value and money to others. that particular wallet provides an interesting use case that's focused on problems that are focused locally in africa. that is just one use case. talla is another one that's in develop, that i talked about you can apply to get credit with these small microloans, they give you a response right away so they're moving in to build this on still lars, so they can use stablecoins in particular to

provide these services to their consumers. when you focus on the use cases, and talk about what's actually happening, and the value it makes it hard to walk away from it >> what will you >> i won't use the order ignorance. i think the challenge is a lack of education, and i think that's part of industry, we haven't done the best job. and so i think we need to be better at explaining what actually is happening and can happened, and to encourage policy makers to focus on, don't

regulate too early let's move ourselves to a place where we let this grow and flourish a bit that's what we did in the early days with the web. i think we need. the on and off-ramps have been always been really hard we have this great partnership with money-gram international that will allow folks to take their fiat in, and they can convert it to digit at assets on wallet it is stellar-enabled a use them it demonstrates the operability

between the traditional system and these new rails. >> before we let you go, most of us here, even watching, will never be in front of a senate or house committee or panel testifying, or having to explain something. can you take us through the biggest gap, in terms of lawmakers, what their perception of cryptocurrencyies and that industry is, and what exactly can be done to make that regulatory environment more collaborative with your chief executives in the business >> i think today was an awesome start, to start that conversation there was a lot of good dialogue one of the things i felt a lot today is there's a collapse of crypto and blockchain. crypto is on blockchain, but blockchain is underlying technology i think that will happen, and i think it's okay, but there needs

to be a want on both sides the industry needs to want to share and the policymakers really need to want to listen. i felt awesome coming out of it we'll see more of this i think we historically have not been able to get there, and today we did. >> denelle dixon, thank you for joining us and good luck with the rest of the education. thank you. let's trade it blockchain versus the coins, tokens themselves. guy, we'll go to you first let's talk about whether or not it's just bitcoin and if there are other place to say go to to find that outperformance? go downstream a bit, and over the last month you've had a lot

of analysts downgrade the stock. they're just starting to see news there i don't think the market fully comprehends. they'll be at the forefront of that if that is the case, which i think it will by, this stock should be significantly higher i get the crypto plays if you want to look downstream, look at palantir >> tim anything on your radar? crypto and blockchain right now really are the spirits in the material world having the folks on the hill -- sometimes they are clumsy, but ultimately this is about regulation this is a $2 trillion industry you have to have regulation around it. that will bring higher prices, believe it or not. it's actually a very good thing. as awkward as these moments seem, and we've had a lot of fun

on "fast money" when there's been dot-com type of investigations or even discussions into the metaverse, but this is very good news when you look at the relative value trade within the cryptocurrencies or the platforms, what we are clearly seeing is moving down the curve. the story of this year, it's ethereum over bitcoin, how about solano over ethereum that's where the trade is getting very exciting investors, while drawn into some of these extraordinary moves, absurd moving, exciting, and a lot of stuff out there that needs to be kicked harder under the hood the good news is this is a broadening cease class this isn't just about speculation. >> sola. in o for tim, palantir for guys. coming up, we are all over the after-hours action with

shares of gamestop and rh. we'll break do you the details next. disney stock rebounding, and that cause one of our traders' attention. we have more of that when "fast money" returns after this break.

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you know that music. welcome back to "fast money. we have an earnings alert on gamestop dropping to the tune of 4% frank holland has all the details out there. frank? >> gamestop lower after earnings and the disclosure of a subpoena from the s.e.c. requesting documents relating to the trading of gamestop and other meme stocks. in filings gamestop saying, in farther, we're in the process of producing documents and have been and intend to continue to cooperate fully with the s.e.c. staff. this inquiry is not expected to adseriously impact us. on the ten-minute earnings call, the ceo saying they're exploring new opportunities.

no further details a few other details from the report we want to highlight. they increased sales of hardware by 62% year over year. gamestop said it increased its inventory for the quarter to mitigate supply chain issues ittic increased its cash and holding by 217%, holding almost a billion more in cash also, investor interest in this stock, its decline recently, the last five days, actually in the last ten days, so a lot less volatility for gamestop. especially before earnings, especially compared to the last quarter. dom, back over to you. let's trade gamestop now jeff mills, i wonder, there was a case to be made for trading the stock because of a momentum factor at one point. is there a fundamental case for own or not own gamestop in your mind >> that's been the case the

entire time. i don't even now why we're talking about earnings here. this is really a caricature of the old phrase that good news is already baked in there is no fundamental result that could have sustainably propelled the stock higher here, at least in my view. the short interest is low. most of the people who want to own it already do. we've seen the stock not move to the entire year. i think flat is probably the best case for the stock but forward. rh surging after its report. kristina partsinevelos, i still want to call it restoration hardware. >> so do i, especially those who go to the bar our restaurants in the meatpacking area in new york the furniture and housewares company, we know, is restoration

hardware previously, raised guidance for the year. adjusted earnings per share came in at $7.03. that's a 40 cent beat. also a beat, and you have to keep in mind the street consensus for its guidance is a lot higher, so that did help the company. what we did see, and this was the interest thing, the company previously will to -- and the opening of its first guesthouse until the spring of 2022, but the ceo is optimistic, to say the least. this statement -- we refuse to shelter and shrink not allowing our culture to shaped by stay-at-home mandates. no leaders of our team made their summer home their permanent home only discussions of when we could return to work

i thought that was a poignant statement. including a lux youry yacht available for charter. shares are up. back to you. >> it feels four seasonsesque. >> steve, i'm going to have this in the home building stocks overall. >> yeah, so i'm looking at a long-term chart. first of all, when you look at it on a chart, it looks like it bounced ahead of where it should have pounced on a technical level, so it makes you want to think about getting into the stock at this point, but to your -- your analysis of a momentum play, if you go back on a long-term trendline for this

one, go back to where the pandemic hit before the pandemic hit, this thing is in nosebleed territory. you could feel extremely positive on the name, as long as housing is doing better, as long as people are buying houses with bitcoin profits, this one will do okay, but when the music stops, this one will come in very hard. please, if you're thinking about buying this, look at a long-term chart on this. it has a lot of room to fall >> all right so let's talk about this tim, what do you think is it here our lowe's? lowe's made a record high in trading today. >> i like them both, and i'm a huge buyer of the home builders trade. 24 times next year, this stock is not expensive i prefer williams sonoma, but i think both stories are a trend that's not over and not just because of covid i think people continue to have value in their homes and beef of

essentially -- take the net value and net equity in those houses and reinvest it they're not expensive, 24 times, not bad. all right, certainly from a product standpoint on the expensive side of the spectrum out there. coming up. lululemon earnings are on deck the big bet one trader is making on the athleisure stock. disney working on a stealth balance from recent lows that cause one of our traders' attention. that's coming up when "fast money" returns after this. our retirement plan with voya, keeps us moving forward. hey, kevin! hey, guys! they have customized solutions to help our family's special needs... graduation selfie! well done! and voya stays by our side, keeping us on track for retirement... ...giving us confidence in our future... ...and in kevin's. you ready for your first day on the job? i was born ready. go get 'em, kev. well planned. well invested. well protected.

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welcome back disney getting a bounce as named a top pick for 2022. it's had a rough go in 2021. the last few sessions it's up about 8% of the lower levels and that's catching the eye of one of our traders, namely guy adami. what has you interested in disney >> i'm wrong all the time, as you know we were cautious on this for quite spfor quite sometime

we said the mid 4140s would be logical home it did it on some pretty decent volume over the last week, week and a half jpmorgan just came out jpmorgan just came out i think the

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if all three major averages closing up, i'm making sense of the past week's volatilities plus, my exclusive with life sciences watch or listen live on the cnbc app. it's that time "final trade"s >> stem, it's been building a base i am looking for a large move higher >> all right, tim? >> williams-sonoma, every little

thing she does is magic. how about that, guy? [ laughter ] >> jeff? >> as i said earlier, i would fade this big move in roku i just think the growth is going to be challenged the stock is too expensive where it is. >> is the invisible so in crypto. thanks for watching. i am here to level the playing field for all investors. there's always a bull market somewhere. and i promise to help you find it "mad money" starts now hey, i'm cramer! welcome to "mad money. just trying to make you some money. call me at 1-800-743-cnbc or tweet me @jimcramer. know something wall street can be a pretty darn negative place [ boos ] there'ys