recent years we'll see if that plays out this year >> wilfred, you've done such a good job this week, tonight i'll give it a go, hosting the cnbc special report, "your money 2022." we'll get expert picks in travel and health care. you will not want to miss it but for now that does it for us here on "closing bell. thanks for watching, everybody see you tomorrow "fast money" starts now. tonight on "fast," wall street's biggest ball is out why trouble could be brewing in 2022 traders are bringing the trades they nailed this year and the trades they got nailed by. and later, a picture is worth a thousand words but is this nft worth $91.8 million? how the market assigns real value in the wild west of nfts welcome to "fast money," i'm melissa lee.

as we close the books on 2021, you know, we all love acronyms, who doesn't love a good acronym? they're clever, they're easy to remember of course you all know faang, then dan nathan's famous maga trade. traders are laying out their top acronyms for 2022. we'll kick things off with guy but before we dive into your new one for the new year, guy, we want to revisit the acronym you laid out for 2021. you chose the hope trade you tied the market, which is pretty damn good, i probably shouldn't say that, up 27% this year guy, what's your new one for 2022 >> if you took the "p" out of the hope trade, you would have had a winner there but you would have had a problem with the fcc. but i digress. for 2022, dawn, such a beautiful connotation, the beginning of a new day. the "d" is disney.

oh, my god, i can't believe it, he's never liked disney before i haven't, but you know what, the stock traded lower, it's bouncing, i think it goes higher the "a," airbnb. people will travel again and you know where they'll go, wynn resorts, the "w" in dawn lastly, i said nio below 30 is worth a look last week look what it's done today. >> reopening, a little ev sprinkled in there brian kelly, what's your take on dawn, what would you trade, what would you fade in that >> you know what, i actually like most of them. the only one i don't like is probably wynn resorts. that's probably because you've got exposure to china and the wynns of the chinese government. for me, i take out "the w" and i get we end up with dan >> and do we want dan, dan do you like the rest of dan?

>> there were some things in there that kind of were very much in line with my trade from last year, guy did much better than i did there i really do like some of that stuff. i agree with bk on the china stuff. i know we spend a lot of time talking about it it seems like that's not done yet. earlier in the week, dede, that's cut in half for a couple of months or so. that's a tougher trade here. really you are at the whims of the chinese government now >> a lot of people underestimated beijing's determination to crack down on its own tech sector. dan, before we get to your new acronym we want to check on your pick for last year and you had the abide trade. amazon, alibaba, ipoc, being clover health deal so this one was a tough one. it was down on the year, dan so how are you going to turn things around? >> yeah, i'm going to go with aarp, a shoutout to my main man guy adami who just had a

birthday, as we all know so this is really channeling my inner guy here i want to get a little of that aged wisdom here i want to stick with amazon, that was the "a" in my abide trade because i think amazon is going to outperform the rest of maga, the microsoft, apple, and google all of those gained $1 trillion in market cap in 2021. amazon was just up 5% or so. i think amazon massively outperforms those other big tech leaders in 2022. then i want to move over to airbnb, i agree with guy what i think is really interesting about airbnb, what was they evident in that q3 that they reported was that now work has changed for good it was a leisure sort of story but now you can travel and work from wherever you want that's going to do a number for airbnb in 2022 then i want to move on to roblox, that's your meta

lastly, palantir was the "p" in guy's hope trade he was a year too early, this thing outperformed in 2022 i think this is the year they hit gaap profitability after being in business for nearly 20 years and with gross margins north of 80% and growing revenues at 30% plus, if we do have that gaap profitability, i think palantir is going to be much higher a year from now. >> dan is banking on a couple of underperformers in amazon and pal palantir victoria, that surprised me that both of them came up with airbnb what's your take >> yeah, i think with the reopening concept people had and being able to work from everywhere, like dan was talking about, whether it's airbnb or vrbo, i think that's a good bet. i'm a little concerned about amazon i know it's been the worst performer of the faangs as of

slate and it may continue to drag in the near term but for a long term play it makes sense. >> guy, you abandoned palantir for this year. were you just, eh, good riddance >> i didn't abandon in this case >> dan picked it up, but i wonder if you would have stuck it in your acronym too >> there ain't no "p" in dawn, sister so i was going to have trouble jamming that in. >> you could have gone pawn. >> you know what, i could have gone pawn, without question. do i have time, can i change -- no >> no. >> i like dawn, i like the connotation. hope last year, dawn this year i'm sticking with my guns here >> so you like palantir. >> i love it >> still >> listen, at one point last year palantir was a ha$45 stock. i think it got caught up in the whole reddit thing and obviously crashed after that i think people are misunderstanding some of the

benefits and some of the upsides, specifically around crypto and i think bk can speak to this, sort of the cyber things around crypto. when palantir launches that or tells the world about that, be careful, the stock is much higher >> let's get to victoria's acronym. >> so in honor of weekly jobless claims hitting an almost 50-career low today, my acronym is jobs. so we look at the "j," jpmorgan. we like financials going into early next year. we talked about why the dividends going into next year will be strong, loan growth increasing, cheap to the market. i think financials will do well. jpmorgan a leader in that institutional space. for "o," o'reilly automotive i know there was a big run-up in o'reilly over the past year as people were doing their own auto issues at home, fixing their own things with their cars and i think that's going to continue and they're expanding now with a lot of new stores, especially in

the northeast and partnerships in mexico. moving to our "b," bank of america, again, another financial play this one focused a little bit more on the retail side of the bank business. and we like that and i know chris is going to come on and talk about financials so i'm glad we're kind of in the same space there. then our "s," normally we don't talk about smaller mid-cap names. but we look at shockwave medical, and with an aging population, i mean, i know none of us are aging, but in general as people are aging and heart disease being such a prominent issue in the united states, this is a company that uses sound waves to break up the calcium in arteries instead of having to go in and doe an angioplasty >> little-known fact, and maybe the traders don't know, i have this magical screen here where i can see the traders all the time, even when they are off camera, and i saw the reaction to o'reilly automotive, all of them went, hmm, interesting.

bk, what was going through your noggin >> o'reilly is a name i owned over the last year the idea was exactly the same as victoria mentioned listen, if you can't buy a used or new car, you have to fix your old one. that is still continuing we still have supply chain issues, we still have a shortage of cars out there. i do think it could go and it's had a tremendous run. but you know what, the fundamental story behind it has not broken so i still like it >> doubling down on financials in victoria's acronym, dan, what do you think of that >> not a fan i lovevictoria not a fan of those two letters in that one. the s&p, we've been talking about the new highs it's been making every day for the last week what the heck is wrong with money center banks jpmorgan and bank of america are down 8.5% from their recent highs which came at least a month ago here maybe it's that kind of flattening yield curve that we see. i know that some prominent

people that i listen to as far as rates are concerned are expecting that the yield curve inverts in 2022. that would not be good for the banks in my opinion. the last part i'll say, capital markets activity in 2020 and 2021 were off the charts here. i would expect that to slow down next year. that and the rate environment, i expect banks to continue to underperform >> last but not least is brian kelly, bk, what is your acronym for the new year >> it's exactly that, bk i've got to make it easy on everybody, right two letters. my name. it's going to be bitcoin and krbn, carbon credits i still think bitcoin will outperform all others next year. we have a long term adoption cycle that's going on in the macroeconomic environment. if the economy stalls a bit, you'll start to see, and we already are starting to see central banks put liquidity back into the market. i think bitcoin's okay the second one is krbn

this tracks european carbon credits. what's interesting about them is the market is designed, european carbon credits, to go to $100. they're trading at $79 krbn tracks that as we go through 2022, you would expect european carbon credits to go to $100, that's about a 25% increase i'll take 25% on my portfolio any day and twice on sunday. >> is this sort of like the idea of a discount to the necest ass value on this and the gap has to close? >> no. because carbon is trading at i think -- krbn is trading at 50 it's just the mechanics of the etf. >> interesting >> it's not necessarily an nab trade. you would expect carbon to track and go up 25% if european carbon credits go up 25%. >> i thought there would be a polka dot in there

bk surprised me with bk. >> i was going to go with base, bitcoin, adams, selana and ethereum >> guy, what do you think of bk's bk? >> i don't think he's playing the game right i had my smart board out, like, you see what i wrote on my smart board. >> you picked dawn and dan >> but that spells something i mean, i don't know i thought it was supposed to spell something. bk doesn't spell anything. >> it spells greatness in some words. >> we're done with acronyms. let's move on for now. 2021's biggest ball doesn't plan on celebrating he is concerned now about a tough road ahead chris harvey is head of equity strategy at wells fargo securities chris, i'm not going to ask you about your acronym you're worried why?

>> melissa, that's right, we've been a bull until year end we thought there would be a melt-up. now it's time, as we look at the landscape, for more sobering thoughts there's probably two, three, maybe four reasons the first i would say is, if you look at multiples, we're at peak-ish multiples on top of peak-ish growth. that's not bullish no doubt the consumer is in fine shape but we do expect a 10% pullback next year either in q2 or the beginning of the summertime we're late in the cycle. funny things happen late in the cycle. we expect to see multiple compression, whether it's due to deceleration of growth, the fed getting more aggressive, or maybe what we're going to see is a peaking of pricing and that can be to a peaking of multiples and of course a peaking of margins

we're a lot more conservative this year. we want people to think about the risk side of the equation first and then the return side >> so chris, you just mentioned the peaking of multiples when we think about the market, we know the concentration in a handful of names and investors have gotten comfortable with paying historically like 15, 20-year highs in names like microsoft and apple and even alphabet here. does that concentration in the outperformance in those handful of names, and then throw in an nvidia which is up over 100% this year, trading at a very high multiple of sales and earnings, nearly $1 trillion, do they worry you, and why wouldn't we see a 10% peak to trough decline sooner than q2 >> dan, you make some really good points. and it does concern us we're starting to see things that we saw in the late '90s the concentration. the other thing we're seeing is if you look at the consumers' balance sheet, if you look at the net worth, 24% of their

holdings are in stocks the last time we saw something even close to that was the late '90s and the early 2000s didn't work out so well. we're also worried about pricing. we're getting anecdotal information is not the same price taker he or she was six or 12 months ago. if they're more price conscious, again, that gets back to multiples and margins and we have a problem going forward >> i get the concern about stocks, that's something i found very, very interesting, chris. but at the same time, the consumer also has a lot less debt than probably that same period at the time i'm wondering if that factors in at all, that overall the consumer is in better shape. even if he or she feels a dent in the portfolio, they're not relying on that money to pay off any credit cards or anything like that. >> melissa, i think you're right. what we're trying to say, maybe not saying it perfectly and not so eloquently, is we don't think the wheels are going to fall off the cart with the consumer what we think is there's going

to be a repricing. and what we have to think about is that normalization of spending, that normalization of balance sheet, that normalization of risk appetite and what that does to multiples, potentially what that does to margin, and that's why i think we'll have some sort of pullback and dan's right, maybe i'm a little bit -- maybe i'm not aggressive enough. maybe it happens sooner rather than later we do have a lot of froth in the marketplace. you can see it everywhere. one of the things we always point to is naming of stadiums staples center is no longer going to be the staples center but crypto.com we're beginning to see mayors say i want to take my salary in crypto and we're beginning to see, again, that mentality that the market can bend but never break. >> chris, good to see you, thank you and happy new year christopher harvey from wells fargo securities do you see things as going up, up, up

>> yeah, i mean, listen, i always worry whenever something becomes a consensus trade or you start to see stadiums being named. you don't have a really good track record of naming a stadium and then having your company do well that being said, you know, i think that crypto has a lot -- crypto can be this growth area so there's a lot more to it than just necessarily one particular company naming a stadium but you do need to watch those things and to chris's point, and we talked about it earlier, if you start to see a yield curve inverting and we see the federal reserve really try to slam on the brakes here, when the economy is already stalling, they could be raising rates at the exact wrong time, which would absolutely hurt risk assets >> yeah, i think the point about the consumer is interesting as well during the pandemic, there are reasons to spend, nesting, you're buying dutch ovens and throw pillows, then you're coming out and traveling, buying

tickets, et cetera when things get back to normal, what does that look like and what does that do to comparisons year on year, victoria >> so we still have strong faith in the consumer. i know this is talking about how that consumer is actually going to pull back a little bit. and it probably will we're probably not going to have the tremendous growth we had last year, the growth in spending from the consumer but i think some people are really underestimating how strong the consumer will continue to be, especially in the first half of next year. i don't think the fed is going to come in in march and raise rates immediately. i think the stock market actually has a pretty good tailwind in the beginning of the year household balance sheets are really strong, as you mentioned. you've got people that are having their wages increasing. so i think there's still some good movement here for the consumer and that's going to support the economy. i do share his belief that starting around the middle of the year there's going to be a little bit more concern. i know our cio comes out with

his predictions next week so i don't want to front-run any of that but some of the macro ideas chris is mentioning are valid and we'll have to watch for the second half of 2022. coming up, a chip crunch, we've got details next plus the nft boom is still kicking. our next guest has a nonfungible fund he'll break down what is inside when "fast money" returns. don't go anywhere. rizon has the deal that gets better and better and better. get iphone 13 pro, on us, when you trade in your old or damaged phone. here, the phone everyone wants, on america's most reliable network. better? (guy) better. (kate) that's not all. the new iphone, and up to 7 entertainment subscriptions for your family. like apple music, apple arcade, and more. better? (family) better. (kate) not done. the new iphone, the entertainment, and up to $1,000 when you switch. (carolers) ♪better♪ (kate) this year, holiday better, with verizon. because everyone deserves better.

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welcome back to "fast money. shares of micron sinking today as china covid concerns hit the chip sector. let's get to josh lipton for the details. >> melissa, micron did have some news for investors saying that covid-related closures in the chinese city would impact its dram production. the company expects to meet most of its customer demand i checked in with matt bryson who covers the name. he argues it could be a positive for the company. historically pricing is more important than volume. his point being if customers think there could be more shortages coming, they might end up paying more for micron's chips. having said that, he does rate micron a neutral it appears like western digital, he says, are more attractively

valued micron stock dipping in today's trade but still up 25% this year up nearly 40% in just the past two months now, is there a broader challenge that chip investors should start thinking about here i spoke to another chip analyst. he says this is a tough one to judge right now. but it does seem like these kind of impacts to chip factories, he says, will be short-lived. >> thanks so much, josh lipton so we saw micron and western dig trade lower on the back of this news they were trading higher yesterday on the news that nand was trading. >> i keep thinking micron is, away from being commoditized and being cyclical, you can look at it and say this company will grow at x and the stock will be lower left and upper right that's not true. there are names that do make

sense. qualcomm, which by the way is still hovering around its all-time high, almost 16 times next year's numbers. i say, you know what, that's a company that's sort of figured out and still too cheap. unfortunately micron continues to be the micron of ten years ago where qualcomm is starting to be the qualcomm that everybody thought it could be five to ten years ago. >> there are prognostications today that the wave of omicron is going to be strong through january. and i'm just wondering, dan, if we are factoring in the impact like this around the world, particularly when it comes to supply chain i mean, we got a lot of data points from the last earnings season which seemed to indicate things were getting better yet here we are once again in lockdown mode in various factories around the world >> no doubt about it and, you know, that's one reason to look at the foundries too, especially a taiwan semi, which has been in rage-down for the

better part of this year investors thought the pandemic would be in the rearview mirror by now if you think of the smh which has massively outperformed the s&p and the nasdaq up 44%, it tracks the semiconductor group, it's really being led by a handful of names, nvidia as we talked about before, up more than 100% on the year. broadcomm has been a big winner there. so has amd so you might want to think about maybe some pairs trades there. i could see maybe, you know, micron did have a late year rally here come in a little bit down micron, intel, and taiwan semi, it might be a kind of dogs of the smh trade into the new year, because the valuations are pretty reasonable and expectations are not particularly high. >> all right we are just getting started here on "fast money." here's what's coming up next >> announcer: the year may be coming to a close. but the nft boom is just getting started. our next guest is bringing us his nft resolutions. plus stocks in 2021 have

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welcome back to "fast money. you're looking at $91.8 million. that's how much this nft, "the merge" fetched at auction this month, the most expensive nft ever sold. ,000 take a look at this one $11.8 million. that's the value of "crypto punk number 7523. the accessories include an earring and knitted camp and

medical mask, a sign of the times. and this one, $6 million, "a coin for a ferryman," sold in december our next guest owns more than 500 nfts and manages his own nft fund called the nonfungible fund les, great to have you with us >> thanks for having me. >> you've been an early adopter in crypto. you have been in from the very start. but we're wondering, for people just joining this game, how dodo you figure out what's valuable, how do you determine that this one is going to increase in value and have a return? >> i think you have to kind of recognize my history to answer the question appropriately i came from entertainment. and a big part of entertainment, as we looked for new talent, was always kind of community and getting to something early when i got into cryptocurrency, with nfts we say common traits

my partner was in venture, when you applied due diligence to the team, you can take a pretty good guess on what's going to be valuable and what's not going to be valuable. further to that point, when you talk about some of the nfts that have just sold, it's really a case of supply and demand. there's so much global demand for nfts right now that obviously the prices are going to be pretty extreme in some cases. >> hey, it's bk. i've got a question about who is the buyer of these $90million nfts, right? so we know there's a lot of people that made a lot of money on paper as these things have gone up. but are people coming in from the traditional art world and buying $90 million nfts? or is it somebody else is it money laundering what is it >> well, it's not money laundering, although i'm sure

that that exists everywhere, including with cash. amoderated a panel, a big pane that scaramucci does in new york christie's led the charge with taking these traditional pieces of art and, you know, the question was asked, who is the buyer. and the truth is it's a new buyer. and we're seeing a shift right now. and i think it was kind of the foresight of the traditional art markets to introduce new buyers to this. what we're actually seeing is a lot of traditional art buyers trying to figure it out. it's why somebody like a gogozian might be later to what nfts are about it's not just about art. it's really about much more than that it's about liquidity and creating an economy, which is another long conversation. >> sure, sure. i think, though, if you're an early investor in an nft and you're sort of investing in something before it's fully valued like a stock, recognizing value, you mentioned community

i get that too, i mean, for instance, crypto punk has a huge community around it. if you're early, the community may not exist. are there certain features about an nft, something about them that makes you think, you know what, this will develop that community that is needed to propel the value of this >> convey. i mean, look, with crypto punks, for me it was always about generative art has been around since the '60s and crypto punk being the first thing on the ethereum blockchain that was generative with 10,000, that was a tent pole moment. when we go down the path and wonder why board apes are so valuable, we have web 3, the metaverse, and road maps these newer launches are putting together, what i really love about the whole space is, it's really kind of this offshoot of wall street bets in a way where you're seeing the convergence of

ideas. gaming avatars can earn you money. they can be wallets. they can be your identity. we've never seen that before >> les, we hope you come back and keep us posted les borsai at the wave fund. dan, the idea of community, what we saw with wall street bets, what we saw with the reddit community, is that there can be massive, strong momentum behind a cause, behind an idea, behind a concept. and that was a trend in 2021 and i think that is helping this nft trade. >> yeah, mel, you bring up a great point, but this is so much more than that because i think that the reddit -- that thing is really only about money. and what i think les is talking about, and i think what i've kind of learned over the last few months, spending some time, you know, kind of digging into some of these communities, is that it really is about the art. it's about this connection between the creator of the art and those people who actually see that value, right? and so this direct link, cutting out the middleman. that's what i find really

interesting. i think we've been talking about nfts since the sale all the way back earlier in the year and it really is something very knew we'll see it across all different types of art to me, find it very interesting. i will make one point, going back to what chris harvey just said about crypto and the pocket of enthusiasm there, these are financial instruments. make no mistake about it the gas fees it takes to get on board and into these things and the idea of kind of buying them, hoping that they will go up in value, not just to be part of a discord community, okay? so there's a lot of people who have been on-ramped into this financial world and they think it's something that it may not be and if these prices were to come in very hard, that is something that you just have to throw onto the layer of all these layer one tokens that bk talks about all the time, that there is risk there too. so this is a pocket of risk that i don't think is really being accounted for at the moment. >> i did want to go to bk on how you invest on the token side of

things on nfts bk >> yeah, it warms my heart to hear dan talking about layer ones and gas fees, it's just fantastic. but how do you invest in this? listen, i'm not an ardent investor i'm never going to be able to understand why one board ape is worth more than the other or is worth $90 million, that's just not what i did but i can buy the infrastructure that all these things are built on that's what we call the layer one. that's ethereum and solana that's where all of these nfts are being midnnted on. if you think about this as an analogy to facebook, as the network grows, and nfts are one part of that network, then the underlying coin should do well, ethereum or solana or wherever it's minted. nft is one sector built on top of these platforms, and there will be other sectors, have at

it, make another $90 million ape. i can't pick that but i know i can buy the infrastructure coming up, our traders break down their hits and their errors as we head into a new year plus what has got twitter flying higher? the social stock climbing 4% in today's session. what's behind that move, next. >> announcer: get your trades to go with the "fast money" podcast. catch us any time, anywhere. follow today on your favorite podcasting app we're back right after this.

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welcome back to "fast money. one more look at the markets mere, s&p 500 dipping into the red at the very end of today's session, robbing us of the 71st record close of the year as it stands the s&p has notched 70 all-time closing highs along the way. 28% of all trading days this year have ended at a record high in a year like this, there were plenty of opportunities to pick winners but as the saying goes, you can't win them all so now it's time to go around the horn each trader will give us one trade they knocked out of the park and one that was a swing and a miss guy? what's your hit, what's your miss >> in retrospect, my acronym

should have just been "ah. lisa sue was killing it at amd we've been on this one for a while collectively ever since she took over, that stock, the only reason it existed years ago was so intel wouldn't be a monopoly the tides have turned, clearly the one i totally whiffed on and clearly don't understand is texas instruments. i've been concerned about valuation and lack of growth but the market doesn't seem to care. amd on the good side, texas on the bad side >> dan >> you were just talking about the 70 new highs in the s&p 500. interestingly enough, mel, the most innovative companies in technology fared very badly this year despite all those new highs, despite the s&p being up nearly 28% when i came into this year, i said rather than some of these innovative names i thought had all these great secular ships going were really expensive, i was looking at ethereum, i've

been buying that on dips the flip side is sofi. i like his framework for bringing tech companies to the public markets sofi is a company that i really like, and it came public through one of his spacs this year it finds support in that 14 or 15 level and i added the other day to it. >> brian kelly >> yeah, well, for me, i'll go to the chip area first nvidia was my hit. that one went actually beyond even my expectations nvidia did well before we knew facebook was going to change its name to meta and the metaverse was going to be a thing and 3d chips were going to be a thing that has played out but that was a huge hit on the miss side, it has to be silver i really thought that the

inflationary pressures, the potential for a short squeeze, wall street bets getting into silver, that we would have a nice outperformance in slv, the etf. to add insult to injury i played it through options so i just kept bleeding minutoney all yea. >> oy. victoria >> my hit was lowe's, people remodeling their homes, the covid play we heard a while ago about people remodeling their homes. with housing and inventory struggles, lowe's did really well earnings up 30% year over year, stock buybacks, i think marvin ellison did a good job with lowe's, that's our hit on the other side, unfortunately we were underweight energy this year energy being one of the best performing sectors this year but there were a fewer reasons we were doing that

one, there was concern about demand, concern about would people be driving back to offices and doing things so concern about demand. uncertainty around supply. we saw all the headlines around opec and what was going on there. and then we actually have a lot of concern in regards to esg with some of the energy companies. a lot of our assets that we manage at crossmark have some type of screening component to them whether exclusionary or inclusionary screening and the capital intensity these energy companies are spending in order to try to get better scores on esg to be included in funds, i think is going to be a concern going forward. so we were underweight energy and that did not work well for us coming up, our traders aren't the only ones with some misses this year why it was a big mistake if you bet against gamestop, the big hedge fund that felt that pain, next plus twitter flying high, the social stock jumping more than 4% today. we're breaking down the move when "fast money" returns. -had enough? -no... arthritis.

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welcome back to "fast money. one big loser in 2021, investors who bet against gamestop the stock went from less than 20 bucks a year ago to roughly 25 times that at its peak in

january. it backed off those highs but remains 700% higher for the year melvin capital got burned, getting caught up in the short squeeze, shaking off the worst of those losses but down 42% from january to november according to bloomberg victoria, it was a year where a lot of people underestimated this sort of retail power and it was also a year that was very difficult for short sellers. >> yeah, it was. i mean, look, never underestimate the power of the people when they make up their mind on something. you had a group of people who had stimulus checks going into their accounts, people who had extra cash on hand because they couldn't go out and spend money on concerts. they found a place to use that cash and they did it in the markets. which is a good thing, we like having retail traders come in and learn about the market i just think you have to be super careful on these types of moves. we were not involved in gamestop or amc on the long or the short

end for that matter. but we want to really look at names and, you know, own them on their fundamentals and for us, nothing changed in some of these names from the fundamental perspective. so the moves obviously didn't make sense to us and we were not part of the rotation that you saw on these names >> i hope even if there is not enough gamestop, if there is never another amc guy, but all these people who started in the markets stay in the markets, that would be something. that would be the legacy >> without question. and most of them will stay and we've said this dozens of times on the show. a lot of these people know mor about convexity and negative gamma than the people paid to do it respectfully, melvin capital probably got what they deserved in terms of the structure of the trade and people figured it out. i'm all for that, by the way it's a darwinism type of situation here so, good for that crowd. and maybe if melvin capital were named like achilles capital,

they might have been impervious to this unless they got shot in the ankle. >> the one weakness, of course from videogames -- that's not very nice to melvin capital, i think it was named after his grandfather. twitter shares topping today, their third best day in six months this comes after a terrible 2021 regulatory concerns, changes to apple's privacy settings in indiscriminately taking down the stock. is today a sign of a turnaround in the offing? dan? >> i don't think so. i think since jack dorsey resigned a month ago a lot of investors are asking themselves if this is a company that's got a little bit of a mid-life crisis we started the year with a lot of hope about a lot of different sorts of new products that they were trying out and none of them really stuck so let's see how this twitter blue does. i also think, mel, if you look at a lot of names that have been

hard hit of late, pinterest was up 5% today, recent spacs and tech ipos that had performed poorly over the last couple of months were up chinese equities were up a lot, alibaba was up 10% today there was some

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welcome back at the top of the hour, a cnbc special, "your money: 2022." we're breaking down what's in store for your money at the beginning of the year, all coming up on cnbc. check out this etf, jumping today. it's struggled mightily in 2021, losing 50% of its value this year but options traders are figuring on a big turnaround mike joins us for the action >> kweb shares has traded three times its average daily call volume just areas where we saw a lot of the opening activity was the

weekly 13 spot we saw a block of those trade for 40 cents, that was one part of the action. obviously buyers of those calls are betting that the short term rally we've seen could continue over the next couple of weeks and we could see more moves like the one we saw today >> we are talking at the beginning of the show about china and china equities, specifically wynn. i'm wondering if you think, bk, that there would be a bounce in this one >> i mean, listen, there could be a bounce. it could be a short squeeze as dan mentioned. it may last over a couple of weeks. but i'm not going to be involved in it. for the same reason as wynn, right? the chinese government has already told you, if you make too much money, we are going to take it from you that is not the type of investment that i want to be in. i would rather have a tailwind type of investment where at least the government is somewhat supportive but in this case, i don't have any way to predict beijing and they actually said, they have actually said by their actions, you know what, you can't be too successful that's not a great investment in my view.

>> as i mentioned earlier in the show, i have this magical screen which allows me to see all the traders even when they don't appear on the screen in front of you all out there and i can see guy laugh at what bk was saying. i'm wondering, guy, what caused you to laugh >> his delivery. you know, i just love bk everything about him is just joyful to me so when i hear his voice i just smile by definition. but i think bk would admit that sometimes you find yourself in the eye of the storm where things are calm and look fantastic which is where they look now if you recall, mel, last night we played a little game of trade it or fade it. i said trade it because you're about to see a bounce and look at that sucker today look, i'm with bk, the news flow could get bad. i just think we're in a period of calm right now, detente >> thanks, mike. "options action" is tomorrow end of the year edition. 5:30 p.m. eastern time up next, final trade

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final trade time bk >> you know what, the only way to get green is to go yellow,

yellowcake, that is, uranium ura. >> victoria. >> dan is going to shake his head at me but bank of america >> dan shakes at everything. dan? >> palantir. >> guy >> happy new year, mel target >> thanks for watching "fast." the cnbc special, 2022 starts r now. tonight, all week on the show, we've been slicing up the markets. but the etf industry has been doing it at a breakneck pace all year find out which of the myriad of funds will be best for you in '22 then anything you can do, i can do better. two faces of the gop and they're very different visions for the future of politics and your money plus urge to emerge. which burgeoning marke