don't miss our interview with the wells fargo cfo at 3:00 p.m. tomorrow jpm has its fingers in all the business lines, kicks things off at 6:30, 6:45. we look forward to all of this >> financials are holding up better than the market which closed more than 1%. that does it for "closing bell." "fast money" begins now. tonight we are talking "fast money" and fast cars ford flooring it the stock hitting its highest level since july of 2001 this rally is ford tough or is it trying to pump the brakes delta soaring, what they say about the future that has investors betting on the not so friendly skies later on, rotten call. wall street analysts laying out

their top picks for the year some are working out but there are definitely a few bad apples in the bunch we'll find out if any are worth a second look with your hard-earned dough. i'm brian sullivan in for melissa lee. your trader lineup is ready to take it on guy adami, team seymour, karen finerman, and pete najarian. we have a lot to get to and interesting single stocks stories for you. we have to begin with the macro markets. in many ways it was a brutal day for many big name stocks now, it all started kind of okay the nasdaq was down a little bit right until about lunchtime on the east coast and then fed vice chair nominee lael brainard said this. >> we have projected several increases this year. >> hear that the "s" word

several potential rate hikes this year. many big name tech stops selling off immediately. nasdaq dropping a hundred points in just a matter of minutes, closing down the day 2.5%, ouch. semiconductors, which had been up nearly 3%, they reversed course fast. they went deep into the red. alphabet, microsoft, amazon and others also reversing early gains in a big way the question is, guy adami, is this kind of the potential nail in any coffin for hopes of a near term tech turnaround in 2022, he said? >> no, i'm not pulling the hammer out to put that final nail in the coffin just about yet. but i find it interesting, and tim seymour says this all the time, i'll let him speak to this, but he's said more fed means more volatility. if you're looking for proof

positive, you saw that today i don't think lael brainard's comments should have come as a surprise that said, she is the most dove o dove-ish fed manager out there i think what we're seeing is this move from high valuation, high growth names and the names that people can wrap their head around a little bit better on the valuation front. >> so the aforementioned tim seymour, maybe not the nail in the coffin, but as always, guy hit the nail on the head because lael brainard, the dove, i mean, maybe this is what it sounds like when doves cry because if the markets react to the brainard, what would the more hawkish fed heads do >> and a tech sector that's running into the end of the party like it was 1999 as well

i think you had the galaxy of fed stars speaking today it wasn't just brainard. it was chicago's evans fed evans may have been the most hawkish, who was at least three bid possibly four offered rate hikes this year. they also pointed out the labor market will remain stubbornly inflationary and they also remind us that the fed's mandate is not just maximum employment but it is inflation. all of this adds up to a fed that even said today, and ms. brainard said this, effectively the fed is behind the curve. that inflation is past where we're comfortable. and this is something that we heard loud and clear so the "v" in my live trade is volatility and the vix went up 15% from the minute ms. brainard started talking. we saw the semiconductor index minus 4.6% from the highs of the day to where we closed

taiwan semi which started the day with so much excitement about semis and why they are the cyclical growth engine of the world, they had massive blowout numbers. they said they'll spend 44 to $46 billion in capex and at the start of the day semis were near all-time highs i'm not going to give you either side of that nail. as the day started, the market was very, very bullish, despite we've had this inflationary scare for three to six weeks, but the fed was very clear today in a way they have not been in a long time. >> and i want karen -- listen, be the voice of calm for our audience here as well, not like everybody else isn't, but we've got to remember something. fed rate hikes are associated with strong economies. yes, inflation is a part of that but a pretty boisterous underlying economy tends to be the reason why we see fed rate hikes and, and i'm going back

through my mental history, there have been plenty of times when the fed has been raising raites, and many stocks have done just fine, have they not? >> they have that's true. you can look at different sectors that do better so, for example, banks have done better in rate hikes but i do think, though, we have had the fed as a tailwind for a long, long time. and this is a very, very significant shift. so it's not surprising to me that these high fliers, we talk about the igb all the time, the super high fliers are coming in and they still, i think, have room to go i look at it as a pendulum the pendulum of valuation for super high fliers went way too far and it's starting to come back the thing about a pendulum is it doesn't stop in the middle but keeps going until things are overdone to the downside

i don't think we're near that. we have a five-year chart of the igb and we can see an enormous run, these are incredible companies with tremendous growth but the valuations just got out of whack if you look how messy and ugly today was for those kind of stocks, you can find plenty of stocks that did okay the banks, for one some of retail, capri, tim's macy's, names like whirlpool fedex did okay, united rental, caterpillar, the automakers that we'll get to later i just don't think these real high fliers have had enough of a comeuppance yet. >> pete najarian, i know you've been a bull on microsoft for a long, long time. some other big name tech stocks as well. you just heard the intro to conversation everybody was kind of a sell first, maybe let's think about it later type market today what are you doing are you still holding? are you still a believer in a microsoft or other big tech

stocks >> well, to reference back to the very top of the show, it's a bit of a controversy, right, brian? when you look at what's going on within the markets themselves, they're going after the shying multiple stocks. that's what the attack really is right now. we're looking at the markets, you look at the names today that were leading right out of the gate, and you can throw in many of those semiconductors, even like an nvidia and so forth, an amd, you look at where their pes are, they're stretched they're great companies, we love their products, we think they do an outstanding job but look at where they're trading, and all of a sudden you look at the next level, the ones with no multiple or three or four-digit multiples those are the names they're coming after i'm not concerned about my microsoft. i'm sad it's gone down as much as it has recently but i'm not worried about microsoft, not worried about apple. i think you have to focus on those names that really don't make any money for the most part or make very little money and they've been able to fly over the last couple of years i think those are the ones that

are going to be under pressure we talk about rotation all the time i think what we're seeing is a rotation within tech and within the semis that if you've got those high multiples, you're under huge pressure. if you don't have those high multiples, you've got a little bit of pressure as well, because people are shifting money around a little bit they're coming out of some of those names and taking a little bit of profits from some of those big names and shifting it over to other parts of the market but that's been all part of this very, very healthy rotation that i think is the reason why we're still not that far away from all-time highs in any of the major sectors. >> and i think, karen, i'll go back to you, i think this is our, your, the show's, whatever, fundamental job, the rotation. when people are selling, they've made a lot of money on many of these stocks i mean, fortunes have been made. now they're sitting on a pile of cash they're going to want to get back into the stock market somewhere, at some time. that's probably our core job, to figure that out.

if you're sitting on a lot of cash because you sold nvidia, you tripled your money, you're looking for where are good places to put those profits. >> well, to pete's point, all technology is not the same i mean, i have faang stocks which i'm sad also, do i own some microsoft, i own alphabet is my biggest position i have a big meta position and some apple and a little bit of amazon. so i don't love that those are trading down but i think of those as really value stocks and i think kudos to whoever sold their nvidia at the top i think there's a lot more people who saw that it traded at some much higher number and want to get until it gets back to that number before they sell it. that's a dangerous strategy. the question is do you want to own it right here. and so for me, nvidia, as great a company as it is, at this valuation i wouldn't want to own it, and don't. >> just a little too rich. all right. thank you very much, karen we've got a lot more to do this is not all, by the way,

that's hitting big name tech stocks tonight because we've got some breaking news out of washington on tech let's get right now to julia boorstin with that news. julia? >> reporter: brian, the tech giants are facing subpoenas as part of the congressional select committee's investigation into the january 6th attack on the capitol last year. the committee is demanding records from alphabet, meta, reddit, and twitter relating to the spread of misinformation, efforts to overturn the 2020 election, domestic violent extremism and foreign influence in the 2020 election chairman bennie thompson saying in a statement that two key questions are how the spread of misinformation and violent extremism contributed to the january 6th attack and what steps if any social media companies took to prevent their platforms from being breeding grounds for radicalizing people to violence. now, we have reached out to those four companies for comment. we got a no comment from twitter. we have not got ten comments bac

yet from the other tech giants, brian. >> julia boorstin with that big breaking news. stocks not moving a lot. we'll see what happens julia, thank you very much let's get instant reaction from our fast money friend gene munster. he runs loop, a venture capital firm we'll have you on to talk about the stuff going on before this breaking news, but you just heard it, subpoenas. should -- america cares. should investors care? >> brian, i don't think so i feel like i've heard this story before there's a healthy dose of deja vu and at the end of the day i think most investors have become numb to what capitol hill is doing with some of these big tech companies this is just the latest rev. when we think about the companies, a couple of things stood out. one is, i feel like heard this before and investors ultimately shrug these off. second is, notably absent from that list, i don't think apple was on there, maybe i missed

that it felt like it was more related social media platforms i think that's a testimony to how apple's navigated successfully around what's been going on on capitol hill but when you focus on the social side, these companies, we think about facebook, meta, you think about what snapchat is doing, ultimately i think it's a lot less about what's going on with subpoenas and capitol hill and what's going to be more important when they report their december quarter is what engagement numbers are just as a quick recap, what the state of engagement was with these companies. facebook was -- they grew their daily active users by 6% in the september quarter. that compared to 7% growth in the june quarter they've been growing at that 6 to 10% range for the past four years. and when you look at snapchat, even though they have some negative commentary regarding idfa and some of the apple changes, they grew their active users by 25% you put it together, i think the dau numbers are ultimately what investors are going to care about with these companies over the next few weeks and less

about what's going on on capitol hill >> let's back to the reason you're here, that is some of the troubles in tech land. i want to make sure our viewers know we have a sense of context, okay, gene i get it, stocks are down a couple of percent. i'm old enough to remember when a 10% down move was not that big of a deal. still, we're dealing with a generation of new traders. they really haven't had to deal with this of course outside of the pandemic-led drop-off in 2020, that was kind of its own exogenous event. let's not forget from september to december of 2019, the nasdaq fell 22% and it ultimately was a buy. what's your take on the macro move that we are starting to see in these markets, buying opportunity or not yet >> not yet i think i would generally echo some of the same commentary from the traders today. i think there's still some downside and of course especially with these higher multiple companies.

i would assess a strong line between the near term in the next three months and long term beyond three months. in the near term, what i see going on is a game of fed roulette and this creates investor anxiety. you're right, i remember those 10% down days. but down 2.5%, that is a two standard deviation move. they don't happen very often and of course fear creates more fear and then the question for me, what it comes down to, to answer your question, at what point do we get through this, at what point can people get more aggressive, i think there just needs to be a simple resetting of expectations from the fed as i mentioned, this fed roulette happens, there's a direct correlation, somebody from the fed talks and the market goes down what i'm hearing there is investors are saying, i don't know what the fed is going to do and we know inflation is bad, we've established that at some level the fed needs to take control here. they need to give investors a clear direction of what they're doing. and i know they're not operating

in a perfect environment but if they would just say, we're going to raise it four times, and guess what, we're going to make that first race 50 basis points, the market would be down 5% on that but then i think we would be done, at least we would know, and at this point the worst thing that the fed could do at the end of the month is to say omicron, omicron is bad, don't get me wrong, but if they play this off like we can't make any decisions now, that would be a disaster i think to the market and ultimately i think the market needs its medicine and that's what i'm hoping will final get this cloud to clear. >> gene, what i hear you saying is this is a rate environment that ultimately megacap tech can tolerate i believe that again, the kind of rate move i think we can get out of the fed in the near term or should expect so what do you do as an analyst? we can judge what this means in terms of asset flows and passive markets and we do that every day because of the weighting of

these stocks tell the audience what the valuation of these stocks means to you as an analyst >> so every 1% change in the fed fund rates typically impacts the valuation by 10 to 20% for these companies. so there's a projected percent and a half, 2% move. it is a measurable impact. and so that is part of the reason why i said we're not through this, is we still need to digest those changes. if we can get clarity about where the rates are going, then the market can identify that and move on. but to answer your question, tim, that's the impact i would say that if there was somebody who was more optimistic, at least over the next few weeks, than i, they would argue that that's true, that that dynamic is true about the 1% impact, but they would argue that, you know, you're going to see inflationary pressures are going to create upside to earnings that would offset that 10 to 20% headwind and so you do have an environment, when you think about how strong facebook and google's business was last year, a lot of times was ad pricing

that went up because of inflation. they're going to benefit from these. and so unfortunately from a fundamental perspective, there's a lot of conflicting data. >> gene, repeat that i think it's really important what you just said every 1% move, that's four rate hikes assuming a quarter point each, takes 10% off a valuation? >> 10 to 20. now, we've seen some of this, nasdaq 6% off. but if you assume, we go to 1.5% fed funds rate, that would assume there's another 5 to 10% downside to the nasdaq >> gene munster of loop, really important stuff there. >> thank you >> i'm not that good at math, guy, but you think about it, if gene is right on the history, we raise fed funds by a percent or the market thinks you will because we'll act before the fed actually does it, that's 10 to 20%, three to six, you take the

stock down to, i don't know, 26 times earnings instead of 30 times earnings i wonder if it's that rational >> i think it is that rational now, it won't feel rational. and we speak this all the time pete talks about this too. it never -- on the way down, everybody's hoping for lower prices to buy things cheaper and they always say, i wish i could buy "x" at this price but then when it happens it's never for the reasons that you thought would get you there, if that makes sense. and you become petrified if you have a plan in place, this becomes very rational to your point, it is just a math problem. i think everything gene just laid out, we all should want, because it's going to bring thinks back to a normalcy level where you can start to gauge what's right and wrong in terms of stocks. quickly, in terms of microsoft, you go back and look at the move, and pete talked about this, as did karen, that move from 349 or so to this level has been drastic but if you look at where we are, we're at huge support levels

we're at a prior all-time high from literally this fall so there are stocks that have given back enough where they might make sense right here. >> it will be interesting to watch the nasdaq 100's overall valuation, see if it backs up, you know, 10 to 20% or whatever points that is guy, thank you very much we have got more on big tech's growing troubles coming up, of course. but before that, we're going to hit the not so friendly skies lately even with all the travel troubles, shares of delta, they're up what the company's ceo told cnbc about the spring that an investors booking a ticket to ride on that trade later on, the blue oval showing its investors a lot of green lately stock touching its highest level since the first fast and furious movie was topping the box office they were riding horses and buggies back then. back you buckle up, we'll take u

on a spin on what that trade means, when "fast money" rolls on ♪ ♪ ♪ digital transformation has failed to take off.

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what we're seeing is, you know, for the spring season, it's going to be a very, very busy season, and the summer as well we just need to navigate this next four or five weeks to get there. >> that was delta's ceo on cnbc this morning sounding very optimistic on demand heading into the warmer months the airline beating top and bottom lines against estimates in its fourth quarter and projecting a profit for the full year the stock getting a pop on earnings and adding to turnaround over the past month as well. airline stocks overall over the holiday stretch higher as worker shortages have caused mass flight cancellations and periodic lunatics on planes that ruin the entire experience tim, you're long delta airlines. what's your take >> ed bastion breeds confidence. delta breeds confidence. a couple of things are going on here delta is focusing on balance sheet fostering. the fact that they paid down $6 billion in debt, they hope to be

down $15 billion in debt by 2024, these are very good signs and why it's one of the highest quality names. they did not have to dilute the equity shareholders in the worst of this. if you look at their january numbers, obviously they're down, they've had a lot of flight cancellation december numbers were around 76, 77% of pre-covid 2019 capacity and they're going to be there by march. i think the march month for the firstquarter is obviously very important. but ultimately, again, people -- look at what they did over the holidays with omicron peaking. they want to be in airports. they want to be in airplanes and the best carriers are the ones that have reinstilled confidence if you look at the chart of delta, this gives you confidence as well. you're up against the top end that have down trend that's all the way back from march of last year and i'm buying that. i think airlines are back in gear outside of fuel costs, this is an exciting time >> yeah, pete najarian, it certainly is i understand there's a dichotomy. a lot of our viewers are thinking, what in the world, we have record high cases,

hospitalizations rising, all this stuff, and the airlines are rising it's because the markets look forward, right we're talking about the spring and the summer and hopefully the end to this damn pandemic. >> yeah, and i think ed bastion did a great job of being extremely positive, as tim points out delta and many of the big carriers have done an unbelievable job the problem remains twofold. international, and he even said that himself, he said, look, this is going to be a very long journey, it's not going to be something that's solved in the next six months, that's something that goes out even further. secondly, the price of oil i mean, that will at some time be something that everybody will be talking about again we're getting closer and closer to that. earlier, just before we came on the air, i saw that there was a gentleman on there talking about the price of oil getting up to triple digits. i've been saying the same thing. i think we do see oil, and brian, you're a big oil guy, you

know the ins and outs of this as good as anybody out there. but $100 oil to me is not that far-fetched. as a matter of fact i think we get there and we maybe even extend a little bit beyond that. that will be one more headwind for the airlines themselves. >> yeah. unless they can't raise prices once all the drilled but uncompleted wells are done, there's no more money to put in new wells, production can drop off. pete najarian, our viewers may be wondering, in the commercial break, go get your cat and get back into the darkness, dr. evil, because we need to do something about your lighting. tell your son scott you're going to hold back -- we're just getting started here on "fast money. here's what's coming up next >> announcer: buckle up. ford putting the pedal to the metal. the stock hitting its highest level in 20 years. is it time to tap the brakes plus rotten picks. nine trading days into the year

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welcome back to "fast money. tonight we've got a bit of a buzzkill on tesla. stock raising its gains, now negative on the year there are some new concerns that tesla's cyber truck could be delayed. there are reports the company removed the reference to the year 2022. need i remind you that's this year from its website around production time for the truck. something to keep an eye on. will that truck be delayed tesla hitting the skids but check out the moves in ford and

gm ford stock hitting its highest level since july 2021, topping $100 billion in market value for the first time ever. guy, you have flagged this move. good call there. what is the trade? and by the way, do you think now is the time for ford to sell its stake in rivien, something jim cramer has talked about. >> karen and tim, tim without question for quite some time the market will finally reward ford and gm in terms of the valuation. you see it playing out over the last couple of months. i still think there's room to the upside in ford you put a 14 multiple-ish on a little more than $2, you get a stock that will approach $30, i think. and i'll stand by that in terms of selling their stake in rivien, if jim says they should do it, i'm not going to argue with jim my instinct is they should probably hold on a little longer

>> karen, your thoughts. >> i think if what you're talking about tesla is true, that's clearly very good news for ford, right? i think the f-150 is available for deliveries this spring if i'm not mistaken, not quite as good news for gm i don't think the chevy silverado will be until next spring of '23. to the extent, if that tesla truck is -- they are going to produce it later, then that's much more helpful for ford i've been in gm, which as guy points out, is really a value play they don't get remotely close to the stratosphere as tesla. they have to show their business works, they haven't yet. they have the hummer and the bolt, not particularly exciting. they have to step up we'll see how the lyric does i get why they don't get anything close to that but the multiple they get -- even though it's run a lot, i'm still long

gm >> the volt was the pontiac aztec of electric cars tim, i know we love to talk about evs, right? because they're so fast growers, i get it but i wonder if we're just discounting and forgetting the core business of gm and ford, the fact that most americans are going to buy a chevy tahoe which by the way now costs like $80,000 fully loaded, and the profit margins have got to be high evs are sexy but even if they're 10% of the market, they're still 10% of the market. >> well, yeah. by the way, you joke about the gremlin but i know you're driving an amc pacer in high school >> a hornet! we rolled it we rolled the hornet i'm not kidding. >> i believe you, i believe you. so you have a case here where the analysts are actually starting to question what the value is of the internal combustion engine business if you look at a lot of the analysts, they're giving the

legacy business almost zero terminal value on dcfs actually it really is turning into an only-ev call which should make ford and gm that much more valuable tesla as a car company, right? that's how we're valuing it. i know we've tried to do 15 other things and great for the people who were long but it's a case where that's why you need to value gm and ford more like an ev play ford will have 6,000 evs on the road in 2024 that's a great story tesla folks, i would not be upset about the pickup being pushed back. their production numbers are through the roof they're concentrating on getting cars off the semassembly line a it's working this is a story about ford and gm undervalued on multiple even if you do nothing on their legacy business. >> pete najarian, i'm on my handy dandy laptop here. i'm looking at prices of ford

f-150s, not electric, not lightnings, not raptors. they're 65 to $75,000. i mean, i know we love to talk about evs. it's great, they're growing, they're sexy, they're fun, they're fast, they're cool but people are paying $75,000 for a truck that costs $55,000 a few years ago. >> yeah. you want to talk about inflation, how about that? when you look at some of those numbers, brian, it's absolutely incredible the ford business is awesome tim's been all over this one it's been great. he was on there long before me i can tell you, back in september, we started seeing call buying in here and it just continued to accelerate. we said five or six times per month all the way up until most recently we continue to see option activity in ford today so people are not done yet, tim. they're still coming after it and they're still looking for the stocks to go even a little bit higher, a couple of dollars higher i think that's really interesting. because of that it's really all predicated on this whole ev world, it really is. that's the stock move that we're

seeing and the pricing of ford, yes >> i know. >> they're not giving the old engine enough, they're not giving it enough credit. but the dollars, like you're pointing out, that shows you, that shows you the margin potential that they've got but they are having to deal with all the labor shortage, they are having to deal with everything else we hear about each and every day. so that is an issue. and they are actually able to make up for that with some of the prices they're getting right now. >> i know, and i agree the valuations are with the evs. i'm just saying, let's not forget they're making a truckload of money, by the way, on their core products tim seymour with his led zeppelin poster, a rambler should have been what he was driving in high school coming up, social media stocks getting whacked today, look at the move in snap alone, it got snapped, it got popped. we'll break down the action ahead. later on, the building boom in the metaverse it's a fake world with very real money. but how exactly does it work

you may be afraid to ask, right? but don't be we're not. and we're going to ask just that, coming up.

welcome back to "fast money. check out shares of snap,

falling more than 10% today alone. analysts downgraded the stock and cut their price target by 40% to 45 bucks a share, still, by the way, above where the stock is now it's lost more than half its value since the highs of december, down 20% in a month. karen, you read the note your take on that and the mood >> remember, a couple of quarters back, snap had that incredibly great quarter last quarter was a big miss. they talked about the apple new privacy and how that affected them and the analyst points to further problems with that same issue, they haven't figured it out yet. social media names, i would much rather, much rather be in meta and alphabet and i think they're going to be able to navigate much better i think the valuation is much better on both of those. google maybe a little less so because i think in the very, very near term we'll get hit with travel a little bit on

omicron. a tremendous business, i would rather own either of those and i do own both of those in big size instead of snap so even though it's down a lot, i'm still not enticed to switch out of those other ones for snap >> all right karen's not convinced, guy are you? >> well, i look at pinterest karen talks about quarters they're showing no quarter to names like pinterest which is clearly been trampled underfoot. you go back a week and a half or so, piper jaffray had a $53 price target for pinterest whether it's true or not, pinterest was under the spell for a period of time of paypal, since denied, but where that's smoke, there's fire. the risk/reward sets up well because this 32 level is a prior all-time high all the way back to the summer of 2019. so i take a look at pinterest here >> good stuff, there

guy adami, do certainly appreciate that, thank you coming up, the rising real price of virtual real estate how do you buy land in this metaverse you keep hearing about? we're going to take you into the outdoor on just that stick around

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all right. welcome back to "fast money. a lot of investors, many of you out there maybe, are spending millions of real dollars on real estate in the virtual world, the metaverse. prices in some areas up more than 400%. so why exactly are investors rushing in and buying up all this virtual land? let's bring in jeanine yorio, putting out the 2021 metaverse real estate report which i read with much interest because i'm one of these ding dongs trying to understand how it works i understand the value of what's being bought, the sandbox, central land, whatever what's to stop thousands of other metaverses being created and diluting the value of all

this property? >> first of all, i love ding dongs, so thank you for spending time reading our report. if you think about it that way, you will talk yourself out of it but i think you have to think about it this way. it's enormous opportunity and the metaverses that are launching early are likely to find enormous user bases there's only about 25,000 people that even own metaverse real estate today so while there may be many more metaverses that crop up in the future, some of these early ones are going to have an enormous head start as we kick off the metaverse ecosystem. we're tracking over 300 metaverses but only a handful have actually launched and only about 24 or so even have land that can be purchased. so today, all the people that are looking to invest in metaverse real estate don't really have that many choices. that's why we think it's such an interesting time to invest in this category. >> and again, please, and i am that ding dong, so please correct me if i'm wrong, it's kind of like bitcoin in the sense that in some of these

metaverses, the sandbox, for example, i understand there are fixed numbers of parcels that will ever be created, correct? 464,000 or something, 646,000. >> that's correct. >> whatever the numbers are, i may have flipped it around the value of that scarcity is what ultimately, i think, gives it that value. it's very much a bitcoin-like argument >> it's kind of like bitcoin it's also kind of like buying a billboard in a video game. think of the video game you know best, and if that video game were to sell a specific billboard or if you play fifa world cup and you could buy the stadium signage and advertise coca-cola, you can start to understand why you would want to buy specific pixels inside a specific metaverse experience. it's also kind of like venture capital investing where we're investing so early that you actually have to assess the caliber of the team that's building this and decide whether they've done it before and you think they're actually going to be able to execute on a vision that's going to attract

thousands if not millions of users and keep them coming back time after time. so it's really this very unique skill set that it's a mix of asset investing, early stage tech investing, and understanding the competitive landscape in metaverse which is really just taking shape today >> jeanine, a lot of people think the metaverse is over the hills and quite far away but there are some names that make sense and i'm not looking to play stock market here, but roblox makes sense, mark mahaney says it will be the bank of the metaverse. does this make sense to you? >> definitely, open c has turned into the killer app for nfts and metaverse real estate is all nfts the more infrastructure you can gain exposure to in the metaverse sector, obviously openc is a private company but

they closed earlier this week. >> jeanine yorio, your report was incredibly helpful and knowledgeable, i hope people can read this and check it out a lot of people have a lot of questions. thank you very much. tim, bottom line this for us >> look, as jeanine said, in good times and bad times, the metaverse is a place you're still very early on this trade whether it's a real estate player or a branding play, we've talked nike's role, we've talked about chip companies, nvidia specifically, there's a lot of ways to play it. there's going to be an element of this trade that only works when you have a massive liquidity rush like we do right now. part of the pain we're seeing in broader high risk asset classes is something that i think you have to be very careful right now when you're jumping into the metaverse. >> you guys did a great job.

if our viewers didn't understand it, it's nobody's fault but mine the crypto craze comes into focus ton. join "kryptonite in america" for a look at what's next for digital assets, coming up at the top of the hour right here on cnbc coming up, trouble with liftoff. one options trader betting it's going to be a rocky run for shares of rocket we'll dive into the details. more to do stick around ugh

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available now for comcast business internet customers with no line-activation fees or term contract required. see if you can save by switching today. comcast business. powering possibilities. welcome back to "fast money. check out shares of rocket companies, kind of a failure to launch in today's session. the stock has been a loser for a while now, down 30% in the last year mike khouw joins us to break down the options action. >> so brian, rkt, this thing saw more than 7.6 times its average daily put volume that was the result of a single very large trade it was the march 14/10 put spread the buyer paid a little over a dollar 25,000 spreads representing 2.5 million shares and that $10 short strike representing the

targeted downside over the course of the next couple of months at least one institutional trader sees further weakness ahead. >> all right, mike, thank you very much. as always, for more "options action," catch the full show tomorrow night 5:30 p.m. eastern time next, bank earnings. we're back in two. ♪♪ ♪♪ ♪♪ mount everest, the tallest mountain on the face of the earth. keep dreaming.

[music: “you can get it if you really want” by jimmy cliff]

welcome back one programming note, tomorrow morning, 5:10 a.m., do not miss my interview with the iea's executive director, dr. fatih birol. we'll talk about russia, europe's natural gas problem and whether vladimir putin is purposely withholding gas from europe to pressure them over ukraine. set your alarms or dvrs and watch that interview also on tap for tomorrow, kickoff to earnings season citigroup, jpmorgan, wells fargo, all set to release their numbers. guy, what are you watching >> the song remains the same for some of these names, specifically jpmorgan, slow and steady wins the race i got a whole lot of love for morgan stanley which reports on the 19th

so i'll obviously be watching those banks. i think morgan stanley sets up the best pete might agree with me on this one, they've done everything right. we've been bumping against these all time highs i think it goes racheting through. >> it is time now for our final trade. let's go around the horn karen. >> so citibank reports tomorrow. i like it a lot. i actually hope it trades down because i would like to buy more the only problem with it, it's run up a lot into earnings but it's the wells fargo of this year >> by the way, karen, that is the best performing bank stock this year. we have a little time here, give us one good reason why you like wells fargo, we got like two minutes, apparently. >> so why do i like citibank the price to book, i love -- >> wells >> it's going to be messy. in terms of valuation, there's nothing even close same as wells last year. they'll get out of the regulatory issues at some point. they'll be able to be back in

the markets, giving cash back to shareholders, dividends and buyback. it's my favorite one >> we've never had more time for final trades, it's like a stairway to heaven >> it will give me a chance to introduce two led zeppelin songs. if you're on twitter, you've been trampled underfoot and clearly the levy has broken. this is a company that back in their fabled investor day of 2021, early, they pointed out doubling reference in the next year and a half. i think twitter is a story i don't care about this congressional hearing. i think it's about modernization. the stock's gone way too far, too fast >> pete najarian >> i mentioned morgan stanley. i do love that name. i think wells fargo. jpmorgan beat estimates the last four or five quarters. they've still gone down. you might get your shot on some of that pullback, karen, when the time comes but wells fargo is going higher. >> and guy adami >> just to end it with another

zeppelin song, there clearly was a communication breakdown between you and the control room there, brian but that's okay, we got you to the finish line. i think pinterest reached a really interesting level here, sir. >> i'll see you 5:00 a.m. tomorrow morning thanks, hi, i am sara eisen. welcome to special crypto night in america on cnbc >> tonight, crypto crash what you need to know as the digital markets get volume tim plus, a little pin action. which stocks correlate to crypto and what does it mean for you. and crypto