the buy-side we'll see what happens in the call the s&p you look at that it's trading off a little bit after hours with microsoft so we'll see ahead of the fed if we sort of try to hold on to what we have left of the big rebound yesterday. >> another roller costar on wall street s&p ended lower 1.2% microsoft trading lower by 5% after hours. the earnings call due to start soon that ask it for "closing bell. thanks for watching, "fast money" starts right now. wlif from the if . live from the nasdaq this is "fast money. tonight's trader lineup -- tonight on fast, assessing the damage, tech trade taking it on the chin again the fall fast and furious. we're picking through the r rubble plus, gold barely budget in the recent market volume at. what gives the one chart that could explain it all plus four stocks our traders say

are beaten down by starting with microsoft shares down 5% following fiscal second quarter report and julia boorstin now with the latest julia? >> yeah, the microsoft shares sinking despite the company beating expectations top and bottom line with revenue growing 20% to $50.7 billion and growing earnings 17 cents better than the analyst consensus. the stock has outperformed the broader market is now dear -- down 5% but up 90% over past 12 months of the decline right now seems to be the company didn't show the kind of beat many analysts had been hoping for 93% of analysts did have a buy rating going into earnings microsoft azure cloud division

reported 46% growth, a hair ahead of the street account consensus but analyst dan ives says it was lower than bullish numbers looking for 48% growth, dan ives telling us -- -- so analyst said of the sell off the microsoft beat wasn't in the all-important azure cloud division raising concerns the guidance could be more conservative than what analysts were looking for and expect more from microsoft at 5:30 eastern >> keep us posted. we'll bring you any headlines that cross on the 5:30 conference call. this just wasn't good enough this is a story of the markets,

karen, high expectations going in a beat on azure by one percent wasn't enough. >> i think one percent isn't considered a beat any more just imagine where the stock would have traded if it were back at 340 or whatever it would be very disappointing, however it's not there, it was 288 going into the print but it doesn't really matter as julia said, i think the guidance matters, the beat on earnings doesn't matter at all there is slow growth then what is the right multiple. it still has a three handle in the 30s, should it, i think so, i'm long but doesn't matter what i think. sort of, is this going to freak the market out i don't know i hope not i think that going into earnings, tech stocks all were down but we'll see. what they say in the call about guidance is really important and

i just want to counter that with texas instruments which cited strong industrial and strong automotive at last check trading up >> yeah that was a beat and raise on guidance. and grant, things can turn around in 30 minutes if microsoft comes out with technical guidance -- going into today's session what do you make of the quarter and how far the stock is down from 52-week high which is 17.5% or so. >> i think the downward pressure is very indicative of what we're seeing in the overall tech space. i was quite surprised in terms of the reaction and post market trading after they did beat han handily. some will part in parcel the rate in that cloud space of acceleration i think we're splitting hairs there. i look forward to the guidaguid

it's on a segmented basis, so you will have to drill in with more detail to make a decision there. in terms of your question around technical trading, there was support previously around that 280 level and they had pressed that in the last sell off on quite a bit of volume and we have held and traded through that in after-market trading so i do want the to see how we hold up there. because the next bottom that i see in terms of support level is around 240, 250 level. i expect there to be some support between here and there >> julia boorstin said you would buy this dip, are there dips in tech, tim, that you would want to buy can you say microsoft is buy down 5% because the quarter still looks good where the context of the matter doesn't matter, we're going to press the stock in technology particularly valuations many think are too

high given the context >> i don't spend disproportionate amount of time on technicals. it's a guide post, with microsoft inter day low 276 pushed through there granted could change on 3-2 guide very difference than expectations but yes, you think of microsoft of all mega cap tech stocks maybe the best five-year chart, most consistent re-rating in a company that hadn't traded through the 200 day until down side back to early 2013 -- -- worried me about where to come in and buy it you said it, we all said it. it was a great chart looking at a forward pe on a forward pe basis, microsoft is quite interesting, it's 26 times the quality of the earnings growth and deserves a

premium to its group and trading at slight previmium to ev cash flow which it should, think of the franchise, what excited me about microsoft long term and why vestors have it on a short list, they should, is if you look at the product growth and tier one -- the gross margins is as good as any company especially in the mega cap space i worry about the market we're in it's concerning q2 is a seasonally strong quarter for them that was a great print largely and we still don't know where they will be on the third quarter. vis-a-vis all the others it's hard to believe you're going to get an enormous guide on 3.2 i think it's time to wait. >> jeff, would you wait? would you add to a position? >> i think you can only be so precise about these things you're a long-term holder i

think continue to add on the way down this is the type of tech stock that will work really well once we get past this market environment. this is indicative of the market we're in fundamentals are not deteriorating but there's recalibration in the market around valuation our friend carter werth put out a note regarding earnings on microsoft specifically using the word a-symptomatic that's -- a-symmetrical. what can these companies say to perpetuate the move lower, i think the bar is high and microsoft print confirms that. small beat to in line. not good enough at this point. any type of perceived weakness you're going to get punished any actual weakness, see netflix as example, you're going to get absolutely killed. that's just what we're dealing with right now to your point, these are the kind of stocks to look for as we get past the market where tech

is being thrown out. i think ultimately this year we are going to get past that we talked about what kind of tech do you want to the known in 2022 it's growth at a reasonable price, it's profitability, it's not low quality. that is microsoft. they're returning money to shareholders cloud is growing stock was vulnerable, 35 times forward earnings. fundamentals continue to be strong i like the activision play right now. i think there's room to down side i said before the print 5% to 10% lower gets you to the annual 5% valuation, maybe more to go >> 20 more minutes until the call is underway, we'll see about guidance then. meantime, adam parker with us ceo and strategiy morgan stanley

great to see you what do you make of the volatility. >> to me it's just a classic growth scare i got a few gray hairs on my head, 12, kind of 10 percent sell off in equities since the financial crisis so i think you have to look what's causing it. i think clearly in the beginning was perception change about weights. and now people are worried maybe earnings won't be higher next year than this year. i think that's pretty common one thing i totally agree with, we study what works on positive growth stock sell off and positive expansion and businesses have that tend to have a forum and profit with software and high multiples can still go lower. >> adam, it's tim. so what changed for you in the last month and month and half in terms of what

multiple you're willing to pay, you may have been more cautious, you've been bullish over your career, so what should investors take was it that fed turned on a dime we were willing to pay 35 times more for microsoft two months ago >> i think ultimately i always think about u.s. equity as, you know, i get some kind of 2 to 3 percent plus buy-back. 35 of the 500 companies in the s&p get kicked out every year. 35 replace them. the replacements are going way faster than the ones getting kicked out and then organic 2 to 3% growth. so 8% total algorithm looks better than any other asset class -- i think what causes you to get bearish should be that you're worried earnings will decline, and you're worried about, you

know, too much inventory, too much capital spending, too much hiring in corporate headquarters, but i don't see that right now right? i think people are just worried about inflapgs and earning decline. my opinion is that the fed won't act near as much as what people think. four hikes this year and four next year, i will take you under in a big way interesting that imf comes out with a forecast card, u.s. and china, a one-year high -- you look at 8 times in two years. all it will take for reversal is a dubbish comment and get nasdaq up 4%. that's how it feels to me anyway >> basically you're saying the fed will back away from the path based on a market sell off the fed will be influenced by what the market is doing if we sell off hard enough. >> yeah for sure

i don't think anyone would disagree with that certainly -- if you get strong gdp and strong move lower in inflation or pressure why would they waste a bunch of time. i thinks this a ton of stuff that is exciting couple weeks ago we verified couple things we like and i still like them. biggest call last year was energy as our top pick and continuing this year, i like energy a lot with the balances and think investors should look at that. i still think that's the case. not so much on tech. there's a microcosm that creates a huge multiple -- to add revenue that's not the right cocktail at

this bar so to speak. >> right i want to ask about microsoft you mentioned it being a bright spot for you and sector you're under weight do you look at microsoft in the name of its ilk quality names in that they have the cash flow, they have the margin, ability to maintain margins, et cetera, do you think these names still get re-rate in this market environment or that these hold out to blip. >> i think broader 16, 18 months there will be fine opportunities. for these names, one being salesforce.com i us both microsoft and salesforce in my business. i am in that microsoft teams, i use office -- can they price me on that, yeah they can, you look at that and they are going to trade premium multiples and cash earnings moving forward and have a lot of

leverages to pull. >> very peter lynch of you adam, always good to speak with you, thank you >> good to see you, have a good one. >> bonner, how you feeling about the markets here do you think we're in for a re-rating of technology? >> i think we've already seen a re-rating of technology. so, yeah, i mean, certainly. with that said, i mean, i still have a hard time having a fundamentally bullish thesis and being overly bearish on tech i said it time and time again, i think the over-value free cash flow name on multiple revenue will suffer at end of the day, i think technology is every pocket of industry and ultimately there's a bottom there yes i think it's a multiple willing to pay for it. but fundamentally i think the two go hand in hand. >> check out our chart of the

day. gold hardly moving despite recent market volatility karen you flagged this as a head-scratcher. >> uh-huh. i never quite got gold but i think if this isn't the time for the gold story to really work, which is, we have inflation, we have uncertainty, we have commodity id -- well, tied to inflation -- and we have bitcoin trading down to the extent bitcoin taking away gold, are they inflation hedge or fiat currency hedge or whatever you would think all that tied together gold should really be working now. it's moved a little bit. but i mean, what else could you want if you're a gold bug, i don't know, i still don't get it. >> jack, you have a theory you have a chart at the very least. >> i do. first i will say i'm bias here we don't hold gold we never do. i don't think it's the best inflation hedge, i think the correlation to inflation is

inconsistency at best in the near term. i think the lackluster move in gold is telling us something and other assets are telling us the same thing, that is, inflation is not getting away from us. the dollar is stable various commodities already peaked long-term expectation around 2%. to your point, the chart, real interest rates are rising. in this chart represented by falling tips prices and yield that's move in opposite direction, so real rates are typically negatively correlated with prices in gold. because real rates as they rise the opportunity cost of owning gold goes up because they're not yielding anything. i think that's part of the story is that investors are finally seeing real rates rise, somewhat of an alternative. in a lot of ways that's a classic sign of a weight on gold prices. >> coming up, pull back plays, stocks making swings this week, which names are so bad they're good, stocks to watch.

and first, texas instrument shares are jumping, results, next don't go anywhere. "fast money" back in two ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq

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welcome back to "fast money. we have earnings on texas instrument popping 3% after the company reported earnings. frank collins with the number. >> bit of a roller coaster ride for texas instruments, shares up 3% after following beats on top and bottom line. you look at the numbers. it's chips of course the analog division saw strong demand by 20% during the chip shortage and other increasing 11% the company saying it will continue to continue in cap x spending more than four times than it did in 2020 in 2021. and said the cap x guide is what they're keying on in this report as chip makers face outside demand for chips

one thing for texas instruments keeping that stock up, is that the company said they want to increase inventory, the number they're targeting, 190-days of inventory. that's not a hard and fast number, just an idea to be prepared and meet customer demand back to you. >> frank holland, thank you, with the latest on txn what a different reaction in the after market, kim, to this quarter. >> i after market, tim, to this quarter. >> it is to me i think texas has the bigger valuation issue though nominally is significantly reduced, but again, we're talking about a very different business i worry about peak cycle for them think about the concern on pull forward for microsoft. i don't think as much. i think this move to the cloud and enterprise continues again, they're roughly 40% above the cycle trend line in terms of where demand has been over last

couple quarters. i don't think that's sustainable and inventory might be a problem going forward with this stable back drop for inventory. again, adequately, times et cetera 22, 23 times forward, not a lot to get excited about not a high multiple-tech stock in this environment but one relative to itself that free cash flow number is good but cap x kearneys me but cap x concerns me and think you will be less than 5% on the stock. >> relative to chips appears to be the value, that seems to be the rotation in sub sectors. intel, nvidia, the declines, i mean, they're much starter, so it seems to be gripping subrecipient sec sub-sectors of as well the search for lower valuation. >> guess it is who your friends

are. i agree what tim said, the valuation for texas is more expensive than high 30 for microsoft when you think of the margins in microsoft and recurring revenue and so it's a very different business. and i mean, good that it's trading up it peaked at a little over 200 or so. but i'd rather you didn't ask, but i'd rather be in microsoft, actually. >> i'll let that go because you're you [ laughter ] >> thank you. >> that's fine by me texas by the way -- we'll see if it holds on to these gains as we progress we're just getting started on "fast money. here's what's coming up next >> full back plays . >> pull back plays, four names looking so bad they're good. traders and beaten back buys ou yjackpot,

shldou bet on bally's? you're watching "fast money" live from time square. back after this. planning opt? options? plans we can build on our own, or with help from a financial consultant? like schwab does. uhhh... could we adjust our plan... ...yeah, like if we buy a new house? mmmm... and our son just started working. oh! do you offer a complimentary retirement plan for him? as in free? just like schwab. schwab! look forward to planning with schwab.

welcome back to "fast money. it's been a dismal start to the year, s&p down more than 8% year to day, yep, only january. check out moderna, netflix, etsy, nvidia and more. we thought it would be good time to go dumpster diving, one person's trash is another's treasure one trader coming up with one name so bad it's good. jeff, we tasked you with this, you came up with not one but ten

names. there's so much to die for these days. >> a why, that says anything abou . >> yeah, if that says anything about the market sprks not a good thing i'm going to hit you with first nike i like the price action. down 20% largely filled the gap from last july 140 key level. i like that it bounced off that and most important nike has pricing power, critical in this market another jaw-dropping price move is boston beer sam, i think is down somewhere near 70% they had operational issues, they over estimated, over-bought inventory, all sorts of issues, the stock was crushed but they're in a good business and the craft is growing more quickly and the valuation is better than company like constellation, not to throw them

under the bus, but sam has room to upside after a big drawdown. >> that's like the would-you rather snuck it in there, tim. constellation versus sam, which do you take, tim. >> i'm long constellation, easy answer by the way, jeff's a cool guy, we all know that, but the first large seltzer i drink -- sorry the next will be the first and certainly will be the last i think you have a diynamic whee the market over estimated the growth in the segment. i don't think jeff likes the hard seltzer either. >> maybe i do. >> with all due respect, as we also say i think it's a case valuation on the stock is still expensive relative to growth constellation has great spin off, they've consolidated and growth in market share that's under ressure.

prefecture -- prefer constellation. >> karen what's your pick >> i don't like calling it dumpster diving it's a diamond in the dumpster, mine is jpmorgan, stock is down from peak 14%, it's not like it had a frothy multiple and things weren't going well so they just really hit it hard, so it's the valuation i really like. of course i like their diamonds but that's not part of it, the other part is they're going to buy back their own stock plus they have a dividend, so right here, if i owned none i would buy it right here, which i did >> i was going to say and jamie diamond blew you a kiss on national tv. >> i watched that 68 times, yeah or 75 times. i don't know how many. >> maybe 175, who is counting? do you like j.p. morgan here

>> yeah, especially after the sell off we talked about the bank trade a number of times and for me it's rent not own for entire year sort of situation. i do feel after the move lower there's a lot of value there certainly a very quality name and investors will price in rate hikes until they don't until that happens you will want to own the banks, jpmorgan is good as any. >> bonawyn what's your pick? >> i think it is square in terms of high-quality name and a sell off, particularly when you had a pull back, i think it's one and halftimes the book, so previous employer, i'm definitely a fan in terms of my jewel at the bottom of the dumpster, i went to the landfill for this one, zoom i expect to be in the minority here but after double topping at $400 this thing has been down to

the right until 140, 150, and the knock around these names was they weren't making money, they were spending cash, the valuation was inflated, none of these things are applicable to zoom so i think here, i expect probably the dirtiest dustiest name and i think all of the negative down side is priced in at this point. >> karen, do you think bonawyn picked up a bump of, i don't know what you want to call it? or do you like his pick? >> you know, i look add the zoom recently and docusign, those pandemic darlings, i think it's a lot, lot cheaper, not a super crazy price but i go to the pendulum of valuation swings on and it doesn't stop at fair value and it will go right past zoom i wouldn't short it. that's for sure but i wouldn't

buy it. >> all right tim, what is your pick >> it's amazon and again, if you think about darlings from covid, the fact is the e-commerce world was accelerated and they're so far ahead of everyone else with aws growth and look at where the stock was, it went up in the early days of covid, not even talking about where it settled in, but effectively you've analyzed it at 13% and amazon even through this after the pull back stock is not relatively expensive to itself. they have ability do generate free cash flow they want to i'm not sure i want this from amazon flight but it's the premier internet name right now and it's many things and it's competing in cloud and why we give microsoft the benefit of the cloud, james mcdonald for

amazon for sure. all right. coming up. -- amc looking to refi billions on the books, what it could mean for investors. back after this. >> get your trades to go with the "fast money" podcast catch us any time, anywhere. call up today on your favorite podcasting app we're back right after this. ffes and different ways of working. so how do you manage to keep everything together? cdw can orchestrate a cisco sase solution or secure access service edge. converging security and frictionless connectivity in one cloud based approach. so your dispersed team feels closer to home. for a unified hybrid workforce, trust cisco and it orchestration by cdw. people who get it. ♪ ♪ you can't buy love. or peace. you can't buy security.

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welcome back to "fast money. ballies topping the tape let's get to contesta brewer at the manhattan offices for more. >> i just sat with founder and chief investment officer sue kim who happens to be the chairman of the board of bally's and asked if he is worried about another company coming in to snag up the shares at this price. yesterday off 52% from their highs. >> it's possible that

effectively we're now in play. so, look, it's -- you know, we don't want to sell but it's a risk sort of worth take. we want to buy and we disagree with the market, willing to put our money where our mouth is and we're excited for the business. >> kim told me he thinks bally's is under valued whe wants to ow it and delist it $38 per share offer may be tough pill to swallow. gain shareholders got their stocks at 66 when it close in october and given owner owns 10% of the shares, kim says two worst-case scenario one, the board shareholders refuse to engage and stock plummets or another company makes an offer so good kim can't confuse it, then he wouldn't own the company, he said he would leave

them. >> confusing when he says he and they, he's the chairman of the board, the founder very confusing there but back to the valuation, in terms of the gaming business this is a problem that a lot of casino operators face, that the gaming side of the business is not getting much in terms of the valuation of the stock. >> that's right. in fact, if you look at that $38 share that kim has made an offer for for bally's that's exactly what jeffries a scribed to the enterprise value of this company. then another $16 for the interactive and future of this digital business comes into light. like many companies right now they're just not getting any of their value off the sports betting, i-gaming and potential for these companies. >> contessa, thank you >> karen, i will go to you on this i think the dynamics of this is

fascinating this guy being the founder of the hedge fund, wants to buy bally's where he is the chairman of the board. >> yes he will have to recuse himself, a board committee not including him will look at this offer but i look at it and think he's trying to steal it legally if you look at his letter he's saying we're giving a compelling price to shareholders. i find that kind of ridiculous, compelling, you mean where it was two thursdays ago? that seems, i don't know i don't really get that. they are also offering it immediately, right, they want to do this deal quick before someone comes in i think the point about game sys stock higher valuation and given a giant saver buy back at 38, come on, it's not illegal, but he is trying to steal it >> jeff, i know you're in the online sports betting gaming

stocks, is the valuation issue whether or not the stocks are getting credit for some i-gaming business >> yeah i don't think they necessarily are. i think it's an interesting comparison actually. if you look at bally's trading at 18 times right now but then you compare it to a stock like pen where it's trading at 18 time now after it's been pummeled, whether draftkings or pen the stocks have had a difficult time, extremely volatile and in a speculation in this market i understand long-term there's value but today i think there's a lot more value in a company like pen, for example, comparing it to a bally's or draftkings, splits the middle nicely, still positive cash flow, still profitable with big upside on online betting and other things, but this market wants --

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i am daniel dibiasio, managing director, morgan stanley wealth management. a great way to start with a high schooler is to start with something simple and achievable, yet dynamic. could be making a purchase, like a pair of sneakers or a sweater. saving to have a few dollars for a future purchase. or how much money do you think you spent this week? and starting with some actual facts. so it's an exercise i think to be engaged together with your children, rather than giving out like a homework assignment. having a job as a teenager is an incredibly valuable experience and not necessarily just about earning the money, but understanding what it takes having a job. and so just keeping it simple and bite-sized and moving them through a conversation over time is probably a better way to do it. i am daniel dibiasio and we are morgan stanley.

welcome back all week long here on "fast money" we're looking at the retail revolution, one year later, friday marking one year since robinhood restricted trades on handful of popular retail stocks sending shock waves across the market. moments ago they put out this statement -- it now has a net capital position of $2.7 billion 25 times what's required by the sec and the same size at meryl lynch reserves and -- has double customer service support team --

but down 60% tim, what do you see. >> i'm not an owner. my argument was that i see a very sticky client base, despite the frustrations of a year ago or so, i think you got a lot of the same group of very, very loyal and demographic that is highly valuable that a lot of the other traditional and fintech banks and brokers want a piece of having said that, what's the moat around the business, that's the question the profitability in a world even during much stronger krypto and blockchain market than this they saw decelerating revenue. so this is a statement to try to reassure investors but reassure the customer base that the company is prepared and learned to deal with the dynamics that day a lot of people were caught offsides on. notable how they froze people

out of markets they wanted to trade. it's not something people will forget. >> yeah. let's turn now to amc, reportedly looking to refinance a lot of its debt, theater chain looking to restructure more than $5 million on the balance sheet, some of that starting next year, get a break down what it could mean for the company is ceo chris white, great to have you with us. i'm sure a lot of companies will watch this carefully a lot of companies borrowed their way through tough time and playing nosebleed interest rates now amc is doing it. what are they looking for? how important could this be? >> this is huge for setting benchmark in the marketplace borrowing conditions will change in 2022, everyone's anticipating that, and it's a much different environment than what companies like amc in the past two years where they had fed supporters and low rates. now the fed is focused on really stamping down inflation and i think what we're looking for

here is what's the new normal in terms of low investment grade company being able to access that capital >> hey, it's karen, thanks for being on so when you look at their debt, they have a lot to choose from, a lot of high-coupon debt. will they just start with the highest? can they call that what's the strategy here >> actually, you know, karen, when we took a deeper look at this using the data we have at bombclick. i was quite surprised. about $5.2 billion is due to mature in 2026 so it might have you -- and really -- so about $1 billion will be maturing before then so it will have you asking why try to refinance now that show what's maybe what amc is looking at is tough borpoing -- borrowing conditions ahead and trying to get in front of it before everyone realized the tune has changed that you will

have to borrow at much higher interest rates and longer mattit which could spell disaster for few companies out here >> that's what you think will happen, there will be a small window for these companies to refinance their debt >> the most interesting thing going on, you don't just turn on the light switch on quantitative easing and the market goes back too normal, there's a ton of cash on the sideline and the real question is people holding cash when will they get antsy, because they'll see a deal they haven't seen in a while, when amc does come to market -- or is amc going to have to offer incentives to get borrows to come in and get thy them the capital. one thing to keep in mind in october 2020, was trading 50 cents on the

dlarp and today 94 cents on the dollar while we're worried about amc things were much more grave looking back a year and half ago. >> yeah, very different picture. chris, always great to speak with you thank you. >> thank you. >> chris white of bondclick. tim, adam said it was one of miss goals this year to refinance some of these interest rate that's are like 11% >> well, look, it's a good time to do it it's got a little bit of momentum coming off of "spiderman" what not and bit of a seasonal box office that was extraordinary. but again, that chart we just posted, chris nailed it, i mean, 27 times debt to ebitda on a forward basis, it comes down to credit metrics not meme stocks i think this is where i think the debt markets are going to be a lot more ruthless. don't mean there isn't a price for debt, if you look at

high-yield markets which have been record-type in terms of spreads have started to give some ground. this is about getting in front of it, it's -- it's very smart but again, it's going to come down to credit metrics in a company who pre-pandemic was around $770 million in the best of markets in terms of their top line so i think it's something investors really have to watch out for >> coming up doge on the dollar menu elon musk calling on mcdonald's to get into the krypto craze and offering something live for tv if the company floolws through and tesla up after the bell, we'll tell you how traders are playing the ev-maker when "fast money" returns options? plans we can build on our own, or with help from a financial consultant? like schwab does. uhhh... could we adjust our plan... ...yeah, like if we buy a new house? mmmm... and our son just started working. oh!

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welcome back we're going to have noeshlg another busy night on "fast money" >> tesla and other stocks reporting earnings implying langerer than average move of more than 10% higher or lower by the end of the week, larger than 7% its averaged in the last eight quarters

called did outpace -- and buyers of the calls are betting that the news could be good and the stock could finish the week higher. >> mike, thank you elon musk, by the way, expected to be on the call to lay out the product road map and may be asked about this tweet today i will eat a happy meal on tv if @mcdonald's accepts doge this has everything, elon musk, krypto trade, the happy meal, who is the winner here is doge? is elon musk because he gets the happy meal or mcdonald's because of the publicity? >> first of all, the assumption that eating a happy meal is a sacrifice, look, if you bring me

one i'll whoof it down and thank you. the question is, why do we keep talking about doge coin if there's not something to benefit and gain from in the murveg -- musk camp. mcdonald's has become hip with the celebrity endorsements and kiosk and program, i don't think they need the allure of doge would love to see him eat a happy meal and think he will enjoy it. >> bonawyn, you don't strike me as happy meal kind of guy but it would be a celebrity endorsement of sort if elon musk ate a happy meal on tv. >> yeah i hope he has better luck than the guy who bought a pizza for 10,000 bitcoin whatever it was. i think the real winner is the platforms, these guys have a platform and can use it for their benefit. that's my take away there. >> all right up next final trade. trading, and look, it feels like i'm just wasting time.

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>> bonawyn >> market not down is the new up merck, mrk. >> karen >> jpmorgan for fundamental reasons not sentimental reasons. >> mills? >> as"fast" "mad money" with jim cramer starts now my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends, i'm just trying to make you money. my job isn't just to help you make money but it's to educate you. call me or tweet me. in retrospect were we paying too much for everything? that's wall street's conclusion