come down. when you have these red days and pullbacks, use that as an opportunity to step your way into a name that has had downside exposure but you know longer-term is going to be a strong holding. >> you handled the two-minute drill well that's victoria fernandez. that does it for overtime. thank you for being with us. i'll see you tomorrow. "fast money" begins now. >> live from the nasdaq emerging markets, overlooking new york city's times square, this is "fast money. guy adami, and pete najarian ahead on fast, no matter how you slice it, it's been a bad week, a bad month, a bad year to invest in china. from lockdowns to crackdowns to slowdowns. is it finally time to bail on beijing? plus, a long, strange trip to nowhere. the covid darlings that are back where they started two years later. we'll name the names and ask what is next for these pandemic high flyers.

and then we'll show you why betting against kathy wood is proving to be more profitable than betting with her. we start down with the shutdown heard around wall street china closing down major manufacturing centers in shenzhen 1,300 new cases were reported on the mainland yesterday bringing the total number this year to over 9,000 more than were recorded all of last year. the shutdown prompting new concerns for companies that operate or source their products in china just look at the moves lower in names like las vegas sands, wynn, starbucks and nike those stocks trading at 52-week lows apple and qualcomm dropping sharply. the news taking a toll on the broad markets. the nasdaq down more than 2% so do investors need to brace more even more supply chain snafus and trouble, selling products in china. we were just discussing this i don't know what the market makes of it. it seems like they want to look past any sort of supply chain

disruptions. it's surprising, we were talking about the ten-year bonds were higher today i would thought there would be a flight to quality and a slowdown, economic slowdown as a result of this, that this we're seeing right now, this isn't the extent of it we think it could be a lot worse, and so i'm surprised that the market reacted the way it did. so it was good for financials, that was nice. but, i don't know, i sort of felt like i was surprised when it was up earlier. i thought the moderna spike was very interesting maybe they'll be supplying vaccines i don't know it's still a treacherous market. the vix started to elevate peter will probably speak to that more. that was sort of interesting to me because i want to see panic before i really start buying a lot of stuff. >> panic equals the road to capitulation what did you make of the action today? we've been talking about how companies are seeing sort of the light at the end of the tunnel

when it comes to supply chain concerns and we know that china, with their zero covid policy, they shut down immediately i mean, a port can be shut down tomorrow because there are cases of dock workers being sick so it seems like a curious reaction to me >> a lot to unravel. it's interesting we used the word panic i understand why we use it, but i would submit for the last few weeks the days that have been panicked are the days when the market goes significantly higher it's interesting, the panic seems to be on the upside, which leads me to believe there's still further room to the downside again, karen said it, i'll say it, pete can speak to the vix without question but i find it interesting that since late february, and now we're obviously, you know, mid-march-ish, the vix has been elevated above 30. we haven't seen that in a long time we've seen spikes, one or two-day moves and that's not what we're seeing right now. in terms of china, quickly,

that's one facet of the china potential problem in the market. i mean, god forbid if they were to sort of align with russia with what's going on there and there have been talks about that well, i think i know what it means for the broader market, but i would submit it's not good and then obviously the potential for china and taiwan to rear its ugly head. so it doesn't feel over to me. it's going to be interesting to see what happens i'll say quickly, nike, one of the names under significant pressure, they report this time next week. if nike would get down to $105, all the way back to the high of january of 2020, you could make a great case for nike on valuation and we haven't said that in a long time. >> pete, what do you make of the vix being elevated for so long >> it's interesting. obviously there's plenty of fuel to be able to hold this thing up there for a little while longer. and i heard john on there, but i'll reiterate what he was talking about, the volatility index and the call buying that we have seen today they were buying the june 70s. they only bought 82,000 of them.

it's really amazing when i see something like that. it doesn't mean necessarily the vix is going to 70 but it certainly does mean that somebody out there has some ort of sense there's going to be a pretty good spike in the volatility index sometime between now and all the way out to june. so they're paying for that money to go all the way out to june. it is an interesting thing to see it elevated, holding above 30 let's be honest, when we talk about this, and we were talking about this just last week, it's been hanging above 30, even when we haven't had those 2% moves on the s&p 500. but we are seeing this intraday movement that we are seeing and the markets have been literally all over the place and the velocity of the moves up and down great example when you look at the dow, which was up over 400 plus points at one point in the day, and then finished where it did, basically flat, while the nasdaq was under pressure the entire day, it seemed like so there's a lot going on out there.

obviously these headlines, the risks and i'll just address one last thing, which is guy referenced nike. i would reference the fact that the disappointment of watching starbucks going down, down, down, i think part of that is obviously the shutdown the other part is let's be honest, that stock was stretched. and when i say stretched, i mean from a pe perspective. it was trading extremely high, in my opinion. when you're well into the mid-30s, i think that's really, really high given what the business is and the business model and how dependent they really are on china. so with china shutting down, that's another one where it's just a gut punch for starbucks again. >> jeff, it seems like there's a confluence of concerns in the market right now which is the greatest for you? >> it's so tough ultimately i think it all comes back to inflation and what the fed is going to do whether you're talking about geopolitical concerns or anything else, it always comes back to that i'll be paying attention to the

fed meeting this week. i think the market is going to act dramatically to that, if, in fact, they telegraph they're going to move more aggressively than the market things very near-term, day to day, all the headlines, china is important and they're guiding the 5.5% gdp growth. that's the lowest in some 40 odd years. the zero covid policy means probably that is too high. so we're talking about all of these companies that are exposed to china you have the nike, starbucks, apple, whateverit is part of me thinks, though, that if you look at when those stocks peak, so take nike august of '21, apple, starbucks, last year, you've had a little pain in these names already so i think the reason maybe you're not seeing such dramatic moves because of some of these forward-looking headlines relative to china is because we've seen the stocks move lower. and they are good, profitable businesses, and i think the most important thing is that they do

have pricing power we've mentioned nike a couple of times. you look at maybe 10% down, max, for nike here, so back to the pre-covid high you're getting to the point where some of the future risks we're talking about, maybe some of it is already reflected in the price so you start looking at these businesses. >> is that priced in, guy, or is another round of potential supply chain disruptions another layer of inflationary pressure, another shutdown in china, lockdown do you think that's even partially -- i understand what jeff is saying, but the pullback in these stocks make them a little less vulnerable but do you think that that would be enough to go back to pre-covid levels >> that's what you have to gauge, right so right now, it's off 35% from it's all-time high that jeff just mentioned i think we're getting close and i do think, just my opinion, i think there's a real good chance we'll get down to pre-covid

highs which come in around 105 and then you try to game it out, how does it set up in earnings and i still think they have the earnings growth, not necessarily the backup valuation we saw a few months ago, but certainly the valuation it's trading at now. so i don't know if i can answer that necessarily but what i will say is down 35% with a potential at 8% to the downside, earnings next monday i think it sets up real well for a trade on the long side. >> the one positive thing. i always try to find the positive side of things. >> look at your sweater. >> maybe these companies have learned a thing or two in terms of dealing with the supply chain disruptions they dealt with last year and prior to that, even. >> that's a good point and the starbucks, the nikes, these are really big companies and you would think if anybody is going to be able to get capacity or cargo ships, it would be them. but i think this idea that starbucks and nike have this big growth engine which deserves a

premier multiple, that i don't know that we should look at it that way anymore we see such uncertainty in china, i don't think it's a positive -- i don't think it's the positive that it used to be. starbucks at 23 times, sure, it's a lot cheaper than when it was in the 30s that was too high. this, i wouldn't short it, but i feel like -- it's still above the market multiplenow and maybe this growth engine is stalling. >> that's the question here, what is priced into these stocks and should a big china exposure actually be discounted now, and have we gotten there yet >> i think you have to think about the china story both short-term and long-term short-term, there are vulnerabilities all over the place. the zero covid policy is not going anywhere i sort of had hopes they would start to move away from that not happening. i don't know that you can say the china growth story is completely over for these companies. it's still a huge economy, growing at a good clip compared to a lot of the world. longer term these companies have

strategies to grow and i think generally speaking they're intact but it is more complex now whether you're talking about regulation or any number of other things so the premium that was baked into the stocks is probably lower than what it once was. we probably won't get back to where we were before, thinking about the china growth premium but maybe another 5%, 10% down from here and then you're pricing in something a little too low. i think the truth is probably somewhere in the middle and the long-term china growth story is still not done. >> let's dive deeper into apple. the stock is down more than 2.5% today, closing below its 200 day moving average since last june it is now off more than 17% from it's 52-week high. let's get to carter worth. what do you see? >> it's very heavy the main thing is that this is, perhaps, the most widely held stock on the planet and it is really only as of now garden variety in terms of the

sell-off we'll look at the stats together let's look at the first chart. what do we know? there's no judgments here, except the arrow it's a well-defined uptrend and that line connects the covid low with the sell-off in september and the beginning of this year we broke trend almost a week and a half now, look at the second chart, and where might we go? well, we're into support, you can see the horizontal line. the peak was january 4, and we're down from actual peak to now 17.92% the high was $182.94 so where can we go it's anybody's guess here's mine. third chart. that peak, that speak that you see there where the second line is drawn, that was september 2nd of 2020. at that point apple was trading some 65% above its 150-day

moving average compare that to the dot-com peak, it was only 80%. i think we'll retrace to that level. that level is $138 the final chart would represent a 25% decline, were we simply to go back to the september 2nd spike high when it was so very extended now, 25%, we're down, what, 18 now. is that garden variety it actually is final table. take a look at this. so this depicts, in summary form, every 15% plus decline in apple since the financial crisis low in 2009. so there have been ten instances where the stock sold off 15% or more and the average decline of those ten instances is negative 30.7 the median is negative 29.4. and here we are down 18 plus so why can't it do what it did

in 2013? it dropped 45% in 2016 it dropped 33% support is not a pliwood board or concrete floor, it's a mattress top you sink into support. at some point you find it, but i don't think it's here. >> if apple reached that point of 138, around there, that's where the market finds its footing more broadly >> well, that would be interesting, because what we know is that the market itself, internals are as bad as you could have it. we know that half of all stocks in the russell 3000 have basically lost more than 25% and we know that 25% of the russell 2000 is down more than 50%. what you need to see is some of these last holdouts and then add to that big energy names giving way or financials getting worse and you could get your market down more than now, which is only down 13% on the russell. >> carter, thank you

pete, what's your outlook for apple? you loved it in the past, loved it, loved it now what >> i continue to love it, but i will say with a little caveat that i love it, but i'm not buying more just yet as a matter of fact, if it got down to those levels that carter is talking about, 138, i probably would get interested then but apple, like a lot of names, did get a little bit stretched we all talked about the valuation levels that a lot of these various names did get to so this pullback, i think what really makes me feel a little bit better, not a lot better, but a little bit better about what's going on with apple is the implied volatility so, in other words, as you know, any stock that i own i will sell calls against it when it makes sense. and right now when you look at apple, it was trading implied volatility at about a 30 or 31 now that implied volatility of the near-term options in march and going out to april is above 40 it's as high 47 in the shorter

term and 41 when you get to april. so if i can collect against apple and i'm getting much more a premium now than i was, that's exactly what i'm going to do we've got the dividend yield and know about the buybacks. this gives me the advantage to be able to hold on where i'm selling implied volatility to get that kind of premium that's a pretty high premium for apple. it gives me at least a little bit of comfort that i can get a little more premium and make these push to the downsides feel a little bit better. not a lot better, but a little bit better as they fall. >> guy, do you think that if apple reaches that 138 level, which would be less than the average decline, as carter said for apple, which is 30%, that the markets would be close to a low? >> yeah, i think that's what you're waiting for >> sorry about that. >> i'm sorry >> go ahead, guy >> i'm sorry, mel. that 138 level, that's the level we saw on october 4th and then we had a significant bounce.

pete is looking at this exactly the right way. use volatility as your friend, but it also suggests you probably have further room to the downside so 138 lines up really well and it should coincide with an s&p 5 h 00 that might get down to the 4,000. >> coming up, musk, publicly defending ukraine as russia's invasion moves on. they haven't cut all of their ties first, moderna surging more than 8% as covid cases spike in china. inside the numbers next. do not go anywhere "fast money" is back in two. ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪

♪♪ ♪♪ your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire at vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner.

this is xfinity rewards. vanguard. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app.

welcome back to "fast money. check out shares of vax makers moderna and pfizer jumping sharply as cases surge in china. elsewhere in the space, biotech etf higher for most of the day but finishing out and just can't shake the terrible years, and i say plural, that it's had. jeff mills, what do you make of these moves? >> we've been talking about it for a while and i think the general consensus if you want

biotech exposure, it's diversified and you're not trying to play the vaccine game. but i will say the $120 level is very important and i would like to see it kind of hold around those levels. it was the all-time high prior to 2021. until the 2021 breakout, it's flirting with breaking below that again i would pay very close attention to that. the moves individually with biontech and moderna certainly interesting today. i think biontech was up maybe by 4% probably for good reason. i think if the stocks were moving because of what's going on in china, the company stands to benefit a little more with some of the partnerships they have on the pharma side. but moderna, we've been talking about this for a while they're likely to have a pretty significant revenue drop, regardless of what happens looking into 2023. and i don't think omicron was particularly helpful the moderna ceo came out and said more vaccines, this is going to be great. i think more people were infected, it was less severe,

there's more data coming out about natural immunity i don't think that stock is going back to $500 certainly any time soon. >> it's a fourth shot though, potentially, that may be needed. >> that was interesting. obviously good for both pfizer and moderna and we were talking before the show about could this be a whole other market now for moderna and pfizer if china decides that maybe their vaccine wasn't good enough and they should sort of start over. i like pfizer. i've been long pfizer. it had a great run and fell off sharply. i think in this environment a low pe with a dividend, sort of the risk/reward is compelling. nos a high flyer i like it. >> there are also treatments now being developed for covid, which will alleviate some of the symptoms of it, guy, which could also help the situation in china, let's say >> no question about it. i'm going to go sort of off the board and look at something is going on with bristol-myers.

i mention it because it traded up to $71 way back in the fall of '99 huge sell-off. you had these monster technical double-tops. very quickly we're approaching and getting through those levels you can make a very compelling case for bristol on valuation. speaking at a bar clays health care conference in london tomorrow i still like bristol-myers that to me in a big cap pharma space is a place worth looking at. >> pete, your top pick >> it would be pfizer and the reason i say that is if you're on the right side of it, great if you're on the wrong side, not so fun $500 down to $117. today it got up to $166, finished at $150 that can be fun, but only if you're on the right side of it i love the way fopfizer trades, the dividend and this is not just a play on what's been going on for the last couple of years there's plenty within the pipeline. >> we're just getting started on

"fast money. >> musk in the middle. the tesla ceo publicly defending ukraine, as tensions rage on but the ev maker is still mixed up in russian medal. plus, china stocks tank. are these names in danger of getting de-listed? the traders break down the china trade next you're watching "fast money," live from the nasdaqarts mkeite in times square. we're back right after this. and some you grow to rely on. these are the bonds worth investing in. for over 50 years, pimco has reinvented fixed income to create opportunities for investors in every market environment. so, no matter what happens you can build the bonds that mean the most to you. pimco, a global leader in active fixed income.

make fitness routine with pure protein high protein. low sugar. taste great. high protein, low sugar.. so good high protein, low sugar, mmm birthday cake and for a cheesy crunch, try pure protein snacks. if you invest in the s&p 500 your portfolio may be too concentrated in big companies. this can leave it imbalanced and exposed when performance varies. invesco's s&p 500 equal weight etf, rsp, is spread equally across the s&p 500,

which reduces potential concentration risk and helps keep your portfolio in balance. stay in balance with invesco's rsp. age before beauty? why not both? visibly diminish wrinkled skin in... crepe corrector lotion... only from gold bond. elon musk has been a focal supporter of ukraine in its efforts to beat back russia and at the same time a cnbc.com

report shows that russia began buying aluminum from a russian company called rusal tesla has ties to other russian suppliers. the russian oligarch is currently being sanctioned the author of the store joins us now with some more details laura, great to have you with us. >> thank you for having me >> is there any evidence that perhaps tesla has ceased doing business with rusal recently since the invasion started >> i spoke with the employees and former employees who had insight into the supply chain issues and there was no indication that they had severed that relationship yet, but global supply chain issues are complicated and it takes time to find substitutes or change a business relationship like that so i wouldn't expect anything to suddenly change. >> there is immense pressure already elon musk had sort of tipped his hand to inflationary pressures that are very difficult to deal with

he talked about nickel and if anyone had a line, please let me know he's probably under tremendous pressure of having to pull out of the rusal agreement. >> i don't know if they will pull out sanctions could demand it or they might make an ethical call. but sometimes there is simply no other supply of a certain quality and companies will decide to keep doing business with, you know, a splar in an area where there's conflict. in the past tesla has also relied on and they still primarily rely on other suppliers. rusal is not their only vendor for these metals they may not be as reliant on rusal as they would with a single-source supplier but we have yet to see if they'll server that relationship. >> thanks for being on would you know if they can get out of the contract, if there's war or something that would

allow them to exit if they wanted to? >> well, i have seen invoices and other internal communications referencing the rusal aluminum coming into their german factory, which is due to open i have not seen the exact terms of the contract, so i do not know >> and finally, laura, do the other automakers also -- you mentioned the story that they all do business with a lot of these suppliers. tesla is not alone, is it? >> tesla is not alone. i can't speak to the other automakers' relationships with rusal in particular. but a global supply chain research firm did some analysis for cnbc and they found that four of the largest domestic automakers in the u.s. all have at least one relationship with a russian supplier, and 13 russian companies are supplying automakers with something on a direct basis, most likely raw materials. >> laura, great to have you with us thank you so much for your reporting. you can read her full story on

cnbc.com there's a difference between tesla and some of the other global automakers, guy, and that is you don't hear mary barra on twitter challenging vladimir putin to man-to-man combat with ukraine being the stake. tesla has really gone out there. elon musk specifically has really gone out there to back ukraine. >> yeah, i think he challenged vladimir putin to a fight, if i'm not mistaken it's pretty fascinating. your point is well taken and i would say, and i think we all agree, tesla is far more than just an auto manufacturing company. i think we've all come to that conclusion correctly but it's not just tesla. i think it's important to point out, aluminum is in so many different industries and part of what's going on here, russia/ukraine, it's not to bring back the russian empire. this is a commodity play on a global level as well russia is the fourth largest

producer of commodities on the planet tesla traded under $700 a week or so ago, bounced back to the prior all-time high and here we are at $756. i think if it gets to under $700 again, you buy it for a trade once more. >> the thought that other automakers who also source from russia could be forced at some point to pull out, jeff, the stocks are already dealing with the inflationary pressure aspect of things. >> yeah, it's a little bit insult to injury here, for sure. and just on the tesla front, i've been vocal about the valuation being too high i think you could trade down to between $400 and $500 before all of this is over. to my eye, that's what it looks like and it's interesting, i don't know this to be certain, but if you look at some of these strategies and such, i would imagine tesla would find its way into some of those and if there's an issue relative to

exposure to russia, i wonder what happens there, if they could end up getting kicked out of some of those strategies. interesting to think about ford was a final trade of me a couple weeks ago it was back down to eight times earnings looking pretty good. but the chart is breaking down they're dealing with this issue. this is only making it more difficult. if i had to pick between the two, i would certainly rather a ford versus a tesla at these levels. >> i think the question here for tesla is where does it lose and how much does it lose. does it lose more on the social ethical front if it keeps sourcing from russia, or does it lose more on the sales front if it has to either not supply the cars that are in demand or raise prices karen, where would you stand on that >> he did just would you rather himself. i know you saw that, right i'm not sure it's very tricky for all of them i don't know if maybe the answer is do they have an intermediary

that somehow solves the problem. i don't know how much of the multiple of tesla is the magic of elon i don't know i wouldn't short it, but i'm not long either. too expensive for me. >> coming up, china tumbles. is the china trade still investable and speaking of lows, netflix doing a pandemic round trip and returning to one key level we are streaming into that one next don't go anywhere. more "fast money" right after this [sfx: street ambience] ♪ ["fly me to the moon"] ♪ ♪ ♪

imagine a community where millions share ideas and trade stocks, crypto and beyond. to the moon? in other words... etoro.the power of social investing. you can't buy love. happiness. or confidence. but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. ♪ ♪ a jelly bean that's good for you? nature's bounty introduces

new jelly bean vitamins. good-for-you nutrients in a tastier for you form. more sweet dreams. more flavorful immune support. new nature's bounty jelly beans. live bountifully. when hurting feet make you want to stop, it's dr. scholl's time. our custom fit orthotics use foot mapping technology to give you personalized support, for all-day pain relief. find your relief in store or online.

welcome back to "fast money. a kweb catastrophe down 11% today, falling to a new all-time low pinduoduo fell a whopping 84% and others also down significantly. let's bring in founder and president of reidle research group. here's the question right now. are these stocks investable?

between pandemic shutdowns, either before or now, beijing's own crackdowns, possible de-listing from the united states there's just so many problems and issues facing this group >> that's right, and the problem is not so much the underlying fundamentals, though you do highlight some real problems they have. higher oil prices are very bad for china. the worst covid outbreak since 2020, very bad for china continued focus on the covid policy, foxconn shutting down today. those are big deals. but the reality is the u.s.-listed companies, especially the once that are variable interest entities, which are a sleight of hands to circumvent chinese law preventing foreigners from in investing in internet companies are not sustainable structures they're just not so no, people should not be investing in these companies they should be finding equivalent companies or other ways to get exposure to china if they want it but they have to be careful

right now because it's got some serious headwinds. >> david, i can't quite figure out what's going on. china, russia, they had that pact they signed pre-olympics, a 5,400 word document they put out. what are the chances that in this war they align themselves somehow with russia, and what does that mean for their stocks or stocks in general >> yeah, i don't think you're going to see a lot of direct alignment of china with russia europe and the u.s. are much more important to china than they are to russia i think you're going to see them trying to sort of thread the needle on their rhetoric, but i don't think you see an outright alignment with them. i think you need to understand that china has some good opportunities, has a good growing consumer class, has an evolving economy, but you've got to invest in it in hong kong or shanghai, on names that are not these variable interest entity

names because that's not sustainable. >> david, these are major concerns, but putting, you know, russia/ukraine aside, putting de-listing and let's say you're not looking at the vies, are chinese domestic names at this point worth investing in, given the economic backdrop for china? >> well, the economic backdrop for china is challenging, especially with the resurgence of covid but it's not heading toward any sort of failure their balance sheets are much stronger than five years ago they've really cleaned up the shadow banking situation pretty aggressively recently they've invested a lot in their social contract with social security, pensions, health care, education, that sort of thing. so they're doing some things really right but, you know, you really do need to be careful and talk to trusted partners who can have an

insight into what's going on on the ground because it's tricky. >> you gave us a list of three companies to avoid pinduoduo, 51 jobs, and then tyson, which seemed out of left field. can you explain tyson? >> we have a lot of experience with bird flu and the impact of a very contagious bird flu like we see in the u.s. right now, and that could really hurt tyson. we've got the most virulent case of bird flu in commercial flocks in the u.s., in iowa, in these big egg-laying states and you've got millions of birds that are at risk because of the bird flu. you could see tens of millions of birds taken out of the farms as a result of this and that's a lot of downside for tyson. >> david, great to have you with us thank you. david reidle we're focusing on tech i did want to go there because obviously we're facing all sorts of other inflationary pressures.

pete, what do you make of china tech >> mel, i've stayed away from it for a really long time and i've only been trading with the options. i've not traded stocks for a long time. as you remember, i was in coffee for a long time, and after that experience i said never again, they're never going to catch me back in there again. one of the things we are seeing trading right now is what appears to be, to me at least, individual stocks that are selling, the sellers are everywhere and we know that by the reaction we're seeing in some of those names. and i think they're hedging right now against some of these huge etfs, like kweb, fxi. what i think is happening is the selling of a lot of individual names and hedging that by buying some of these big large etfs to hedge to the upside if they're wrong. so it's really interesting to watch how this is playing out right now. but i'm only in those options, mel, because i don't think you can -- i don't know how you can say, you know what, i feel really confident about buying

these stocks right now i don't know how you can do it. >> peter, i've got a question for you. are you seeing the short interest i can't tell from the data is it really, really high and that's why you're seeing that call buying? >> well, that could be that makes a lot of sense. i really haven't been checking that, karen. but i would say the volumes are absolutely outrageous. and when i say outrageous, today was a great example of that. when i was looking at a couple of the various different etfs, for instance, i'm looking at just monster days in the last couple of days, versus what's been the average, the three-month average and so forth. the volumes are there to say there's some real players in there. it's not just mom and pops these are monstrous trades we are seeing that are going on now. >> coming up, nielson holdings surging on the reports of a potential buyout plus, no chill for netflix dropping in today's session, they made a return to one key

level. we'll tell you when "fast money" is back. ♪ get a head start in investing with the new schwab starter kit™. new investors can open an account and get $50 to split across the top five stocks in the s&p 500®. you can also unlock short videos, step-by-step guides, and other easy-to-use tools designed for people just getting started. plus, investment professionals are on standby 24/7 if you ever have a question. it's the smarter way to start investing. ♪

dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones

welcome back to "fast

money. a pair of media stocks, shares of nielson surging 30% on reports the tv rating company is in advanced talks to be bought by a group of private equity firms. and paramount jumping more than 10%, its best day in exactly one year posting its highest close since its rebrand just last month. karen, you pointed this one out. >> i was sort of hoping they would be in talks with elliot. but not that i know of i thought it's been cheap for a while. higher than here, lower than here it's not surprising that it could be a takeover, but it's been elusive so far. i don't know why it was up this much today. >> let's take a look at netflix, setting a new 52-week low. today's losses mean the stock has lost all of its gains since the pandemic took hold two years ago. it's just the latest stock to make a full round trip over that period peloton, zoom, docusign have given up their gains i thought we pulled forward

demand don't they still have those people, theoretically, karen, who are subscribing or whatnot to their services? >> you would think, and maybe they made money. i would think, yes, but that growth multiple that was so interesting to investors before, that is likely gone, and i wonder if the igv, which has come about 90% of the way back to pre, is that going to do a full round trip? i don't know i'm staying short. >> guy, what do you make of some of these names >> netflix, literally been cut in half since the halloween high it's a $700 stock that's more than cut in half i think it's interesting here. i will say that -- >> boo. >> i was going to say boo. you beat me to the punch i thought it was interesting $80 ago. i'm just looking at levels of support. if you want to get down to brass tacks.

$285 was the low we bounced back i'm hard pressed to believe we'll get there. that should be the line in the sand. >> let's check out the sort arc etf. it is up more than 60% this year while the arkk innovation just hit a 52-week low. the sarkk is now worth more per share than the arkk etf itself if you could buy only one of these right now, would you rather bet on kathy wood or against her right now? jeff mills >> oh, boy i think the answer depends on how long i'm going to have to hold these things. i think if you're talking about a multi-year holding period, i would rather buy arkk. i think over the relatively long term, arkk is still outpacing the s&p by a pretty good clip. i think the anti--arkk etf may

be a good trading vehicle. i don't think that kathy wood is necessarily a horrible investor, and that kind of betting against her and having something that moves inverse to her investment strategy is necessarily a good long-term play. >> pete, what would you say? >> well, i would probably be in the anti in there i've been loading up on puts for the last four or five days and they're absolutely exploding to the upside because it keeps going down further i have puts in the innovation, fintech, you name it and it's all because of the option paper that we have been seeing, despite the fact all three were at 52-week lows they just keep setting a new low almost every day i'm in those puts but i'm starting to think about trimming them and getting out because i don't know how much further they can go from here but there still is room because they've made some pretty big moves that i didn't expect to happen as fast as it did

already. >> arkk has been going down slowly since february of last year, guys so one would think you're closer to a bottom than to anything else at this point so what would you do >> yeah, but, no, look, absolutely we could have said that $40 ago in the arkk etf. the most innovative thing about the arkk etf has been the anti-arkk etf. it shows no sign, either volume-wise or panic-wise of making a bottom. so although i think pete is right to start to trim, there seems to be more room to the downside, more pain ahead. >> one thing i would say about arkk, it has limited quantifiable downside, whereas the other one does not right? >> yeah. >> so that might not be enough of an endorsement, though. >> doesn't sound like a pound a

table. barclays is making some moves in the products it offers the details next when "fast money" returns what happens if you ever need to miss work for a long period of time? why would i miss work? i don't know. you could sprain your ankle, throw out your back... get hit by a school bus. or a regular bus. get kicked by a horse. fall off a ladder. bathtub mishap. polio. boating accident. stuck by a fork. rabies. wolves. scurvy. talk to us about disability income insurance today. feel comfortable about tomorrow. massmutual. ever wonder what everyone's doing on their phones? feel comfortable about tomorrow. they're banking, with bank of america. the groom's parents? they just found out they can redeem rewards for a second honeymoon. romance is in the air. like these two. he's realizing he's in love. and that his dating app just went up.

must be fate. and phil. he forgot a gift, so he's sending the happy couple some money. digital tools so impressive, you just can't stop banking. what would you like the power to do? (vo) small businesses are joining the big switch. save over $1,000 when you switch to our ultimate business plan for the lowest price ever. plus choose from the latest 5g smartphones. get more 5g bars in more places- switch to t-mobile f by. you can't buy love. happiness. or confidence. but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. ♪ ♪ if you're a small business, there are lots of choices when it comes the to your internetne.

and technology needs. but when you choose comcast business internet, you choose the largest, fastest reliable network. you choose advanced security for total peace of mind. and you choose fiber solutions with speeds up to 10 gigs to the most small businesses. that's virtually everywhere we serve. the choice is clear: make your business future ready with the network from the most innovative company. comcast business. powering possibilities™.

welcome back here's a sneak peek at the cramer cam the full exclusive interview top of the hour on "mad money. and you can have cramer delivered right to your in box sign up now at the cnbc.com slash join the club or by using the qr code on your screen barclays today suspending sales of certain crude oil etns. they're saying it has nothing to do with ukraine. the news kicking off a blizzard of bearish options activity. mike coe has the action. >> we saw them suspending the oil etn and vix futures etn. it traded six times the average daily put volume outpaced calls by five to one. it was mostly short-dated put buying we saw. the march 9s were active, but declined below the strike after

noon and we saw the april 8s picking up activity. over 4,500 of those traded for about 32 cents a piece buyers are betting that the american depository share will decline below the share price by at least the 32 cents they paid by april expiration. >> jeff mills, what do you make of this? >> i guess the good thing i can say is it's trading about as cheap as it ever has generally speaking, my macro view is not all that financial or bank friendly i've been talking about the potential for an economic slowdown i think there's potential for a yield curve inversion. if you look across the board at financials, they're trading below the 200 day. 200 day is sloping downward. i don't think the setup is generally all that good for stocks like that. >> mike coe, thank you tune into the full show friday 5:30 p.m. eastern time up next, final trades. >> announcer: options action is

sponsored by think or swim by td ameritrade ♪♪ ♪♪ at ameriprise financial, our advice is personalized. based on your goals, whatever they may be. all that planning has paid off. looks like you can make this work. we can make this work. and the feeling of confidence that comes from our advice? i can make this work. that seems to be universal. i can make this work. i can make this work. no wonder more than 9 out of 10 clients are likely to recommend us. because advice worth listening to is advice worth talking about. ameriprise financial. ♪ ♪

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 stuff. we love stuff. yeah... oh. and there's some really great stuff out there. but i doubt that any of us will look back on our lives and think, "i wish i'd bought an even thinner tv, found a lighter light beer, or had an even smarter smartphone." do you think any of us will look back on our lives and regret the things we didn't buy? or the places we didn't go? ♪ i'd go the whole wide world ♪ ♪ i'd go the whole wide world ♪

>> announcer: final trade is sponsored by interactive brokers. the professionals gateway to the markets. >> take a look of shares of a firm down 15% today, bloomberg

news reporting that it canceled an asset-backed security sale, a $500 million asset-backed security sale. this is a group that has been pummeled since, i don't know when, december, november, longer, because of high valuation concerns and then also concerns that the government could step in and start regulating this space. karen, what do you make of this news >> i think if that's the case they can't do these debt deals and i don't believe that the firm can't do a deal that would be problematic. you see sofi and square is down a lot. it's the whole fintech space we compared it to banks and how out of whack it seemed it's coming down to earth. i think the divergence is still too big. >> time for the final trade. let's go around the horn pete >> i'm going to go to with co pang. >> steady energy name, eog. >> guy

>> bristol-myers, sister >> karen >> i'm going to be right there with guy i like merck fun to be here with you here, mel. >> ladies in the house thanks for watching "fast money. we'll see you back here tomorrow "mad money" with jim cramer starts right now my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make it so you don't lose too much money. my job is not just to entertain, but now educate and teach. so call me at 1-800-743-cnbc, or tweet me at #madtweets china is back in