happening. i got to say good-bye. we'll continue the conversation next time. chris harvey joining, he's the head of equity strategy at wells fargo security in our two-minute drill. that does it for us. i'll see you tomorrow. keep your eyes on snap shares, all over the map dau came in above expectation, stocks up 5%, "fast money" ha has it now. live from the nasdaq new york marketsite in time square, this is "fast money" i'm melissa lee tonight's trader lineup tim seymour, jeff mills, tim seymour, and guy adami ahead on fast, snap snap back, shares rising after the company's latest earnings report, we're dialled in and will bring you all the details plus coming up on day three of netflix slide and chart matt master has a call what it do with the stock right now and later, stock is going green, new jersey opening for legal marijuana sales and we got the executive chair for the company now allowed to cash in

starting with the s&p reversal giving up gain 1% earlier and finishing down almost 1.5% this as fed chair powell hands down more aggressive action coming soon. >> there's something in the idea of front-end loading, whatever accommodation one thinks appropriate. that points in the direction of 50 basis points being on the table, certainly we make these decisions at the meeting. we make them meeting by meeting but i'd say 50 basis points is on the table for the may meeting. >> looks like you used our desk. was it filmed right here. >> he was in washington, d.c.. back to the comments, 50 basis points on the table, in favor of front-loading. guy, i thought we knew these responsibilities already. >> no, april 1981, van halen released "fair warning" please don't make a face at me, great album. they've been giving us fair

warning and have been doing it for months since november and they trotted out every fed person imaginable and said we're not there focused on the market. you read the comments from bill dudley they said the market wanted to go lower no one is choosing to believe it until a day like today where rates move, bond market is broken vi x gets off the matt a little bit. hyg below 80 credit is becoming a concern all this predicated on the fed speak that the market is starting to listen to now. >> yeah, oil continues its decline, tim, we also saw small caps suffer a little bit more than the largest indices, maybe on the notion the domestic economy will get hit. >> well, it was an ugly, ugly day, vix up 11%. if you look across sectors some of the destruction was awful in fact, i listened to powell's comments and to me, again, evoking in a glorious way paul

volker, talking about a guy who basically crushed and rubbed out inflation in a way where actually there was a sense you no longer had to worry about that it sounds like his goal. and i'd go back to van halen their next album i believe was called diver down. and the minute the market got to 295 you had a case the equity market sold off. and the destruction wasn't just in retail and high-tech names. look at the resource space these were demand destruction-type reactions from a market that listened to powell a fed that hasn't hiked 50 bip since 2000 hasn't gone back-to-back meeting since 200 6. ? -- people seem to take it for granded. this is not insignificant. >> maybe it's fame warning i don't know if they will do what they say they will do they said this weeks ago to me it's almost as the more transparent they become the more i second-guess what they're

actually saying. >> why do we sell off? >> because it's a knee-jerk reaction and most of this is done by computers versus human beings, as soon as the fed speaks you have tape-reading algorithms that sell the stock ahead based on words rather than actions. i expect the market to bounce back tomorrow. i do think -- general mills said this, markets have been jumping in a weird fashion and it's not a real rally and guy has said this. tim has said it as well. it almost feels as if it is a synthetic bounce where people are looking to sell those pops versus buy those dips. >> yeah, jeff when look ago the hyg did that concern you do you think this means there will be grit put in the wheels of the economy, as i like to say recently >> yeah, to steve's point, how do you know when these bounces are real because it's always so difficult to know without the benefit of hindsight but i did submit a

simple chart, the s&p 500 against the hyg, looking at stocks versus credit exactly what happened in february you saw a bounce in the stock market and credit continued lower. recently you seen a bounce in the stock and credit continued lower. hyg new lows without the confirmation in credit that's what's going on. you see the knee-jerk reaction in stocks and over sold bounces and the market is telling you they are concerned about the fed an the trajectory of the economy. in terms of what is going on in the market, don't we know 50 basis points is coming, i think we generally do, the question is, is properly reflected in asset prices if you look at the russell 3,000 talking large, mid, small, the entire universe of stocks, you still have 17% of the russell 3,000 trading at ten times sells or above go back to the tech bubble that was 14%. so there's still froth and room for asset prices to adjust to

this potential fed action. >> i will play the optimist on the panel tonight. i know, i know, one of my best roles. so guy, we've got a number of data points so far in earnings season when it comes to guidance, so really is the story of the economy a delta airlines? a tesla? and a proctor & gamble, in which case does it matter if we do 50 or front load because these companies are giving guidance with these possibilities. >> good question it matters for the market. i don't think it matters for the economy. i think the economy is strong enough to hand it. we're terrified of it but i think the economy can hand itle. i don't think the market can handle it. the economy and market are two different things we learned that the hard way over the years you're right a lot of the companies are telling crazy stories. three ceos of airlines were outright giddey in the last couple days. yes, i think the economy is saying one thing

yes, i think the economy can handle 50 basis point hike, i don't think the market can. >> how about this. what's going to happen in the next down mannie nunnery the next down turn they have nothing to do. you're backed into a corner. we know about the inflation risk but what happens in the next down turn, they have zero to dry powder there's no such thing as a soft landing where the fed is right now. they have to create a recession. that's the base case to me not the bear case. >> that's the assumption front loading monetary policy hikes or tightening will create a recession. there are some people out there who think that even if we tighten by 50 or 75 basis points or 100 over the next couple months, the economy will not go into a recession and we will have dry powder. >> so then the problem is as bullard says they have to tighten even further, because they have to create some sort of demand shock in order to squash

whatever inflation is going on. >> so your assumption is a recession. >> yeah my biggest case is a recession right now. also, what about the balance sheet? do we have any clue how much that has equated to as far as hikes? what's the tightening ratio on that i heard 25 bips. i heard 50 bips. but the reason why the market is playing cybil up and down is because no one knows what it truly is. >> i would love to know from powell if he thinks front loading includes what's going on with the balance sheet, tim, i think is a big question here. >> i think there are two different things and i think there's more inflation attached to the balance sheet than to the interest rate curve. we've proven that with q1 through q4 powell was saying economies don't work without price stability. there's a lot of concern around that i think people don't understand powell is much more of a hawk than he's playing on tv.

it get becausing to what are we will it gets back to what where we willing to pay in an environment interest rates higher and balance sheets going lower many arguments, including tina, had you to boom stock split and get pushed out of the risk curve and the federal reserve was inducing risk. dhoent want that now i do think -- equities are trading that way. is look at the ratio of qqq to s&p. under performing s&p 6% in last 12 sessions. higher beta view is semiconductors, the sh against the snp down 11% especially as the fed discussion has gotten a lot more intense. >> what's the adjustment that needs to be made in the market, jeff mills you said there's a lot of froth there. it's interesting because we've seen banks come out and trim --

i mean trim their eps estimated for the sms for the year sms for the year s&p 500. for the year we just seen jpmorgan trim by $5 how much more adjustment do we need in your view? >> well, the most important thing is that i think you're going to see one more leg down and one more adjustment in these growth names even the growth names that are supposed to be quality look at google, for example, that stock is rolling over again. to tim's point qqq against s&p 500, making new relative lows this year. so how much further do we have to go? i don't know that's a very hard question to answer but what i think we need to consider is the non-trivial possibility that the economy starts to slow, inflation has actually already peaked. interest rates are close to peaking and we end back in a low economic growth, low interest rate kind of world in the next year it will take a little bit of

time to get there but if we start to move in that direction and if the market believes that's where we're going to go versus the fed hiking us into oblivion than you will see the growth names bounce back that's why i've been saying on the way down, on the last leg down for growth you want to add to the high quality names because the second half of the year that's what you will see. maybe the fed doesn't have to hike as much as they're forecasting and maybe inflation will roll over in a way to give enough cover to slow down and maybe interest rates don't go in a straight line from 3 to 4% >> there's a possibility that's where you want to be because if you think there's going to be a recession maybe you want to be in high-quality, big-cap tech names because they have secular growth. >> and to answer the other question, how does the market rectify itself let's play the math game what's the right multiple in this environment for that 230. 17.5, 18 is not ridiculous, that's the 4,000 number we've

thrown out number of times on the s&p 500. >> all right, earnings on snap, shares on the move after missing estimated on the top and bottom lines, julia boorstin with the details. >> we see the stock is now trading higher after it added 13 million subscribers in the quarter, two million more than expected for total of 332 million. as you mentioned the top and bottom line results did miss expectations, adjusted loss of 2 cent per share versus 1 cent per share gain anticipated and revenue $1.6 billion a hair less than $1.7 billion than analysts estimated. ceo evan spoiegel saying -- the company is disrupted by

zpliech bas -- revenue growth exceeded expectations 44% year-over-year before the invasion but after the invasion large advertisers paused their campaigns and remainder at 32% snap is projected revenue growth 20 to 25% in the second quarter, compared to the 28% that analystsest played analyst estimated but snap saying in q2 the growth rate is 30% so that 20 to 25% revenue guidance implies expectation of further declines over the rest of the quarter so a lot of different numbers to keep in mind and the call is ongoing. >> julia boorstin, i feel like it's a roller coaster of numbers. you think it's good, then it's bad. tim what do you think of the numbers. a facebook and google. >> relevant to know thoughts going in

stocks off off the highs -- when you look at dau's this is a number extremely important yes e you're getting more or less in line print and expectations, i think, had been brought lower. but this is a stock not growing fast enough for the multiple ultimately you're breaking even on etienne and i on ebitda and it is something needs to improve if you look at all the other players and pull forward and other things that have been beneficiary you tend to think a lot is priced in. i don't think the stock will do a lot more on these numbers today. >> user growth is definitely not where you need it to be. when you look on a chart this is an over sold bounce after the market reported. just about two and half weeks ago the stock was trading in the high 30s that's actually where it has to be on a technical level to be a buyer of the stock if you want to buy in an ed k -- educated

fashion. in a technical fashion you have to be bullish. wonderful be surprised if tomorrow the stock is red and continues lower from here. >> jeff, your read through? >> i think this is the wrong stock for this market. talking about profitable versus unprofitable i think this technology the difference is stark if you look at the relative performance between profitable tech and unprofit bld tech. prftable tech has been beaten about i a large margin and is usually the case when economic growth slows down. you asked is that where you want to be when growth slows, i think the answer is yes. when you look at snap or twitter i want to be in the google or facebook camp versus other names that maybe down the line they have the growth necessary but for now i don't think will work in this market. >> coming up, netflix shares cratering after earnings on tuesday, is finally time to get in, chart master has details ahead. and shares dropping hard

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money" we've got some breaking news on starbucks latest union vote, let's get the details. >> yes on unionizing, votes 38 in favor, 27 against this is just one of three groceries across the united states there's only three of them second location in hometown of seattle to say yes to organizing new york city also voted to organize the fight is heating up. starbucks fired two unfair labor practice charges with nlb yesterday accusing intimidating in colorado and arizona and 80 have filed more than 200 stores across the country have petitioned so far and 25 of 27 stores have voted to unionize. back to you. >> tim, at a shareholder what point do you get concerned i'm concerned.

this was considered not a big deal when we had the first rule against them it's absolutely a headwind and i think they have labor issues not just around their cost, i think they're having trouble filling the stores with competent people 78 and change was march '14 low you're testing that. although the news in the after-hours keeping the stock staibl i'm worried about the chart. >> meantime, alcoa with the biggest decline since march 2020 look at the broader trades all posting losses today, guy. >> yeah, obviously concerning. we saw a similar move in march, traded to 90 fell to 72 back to 99 good news is traded up to 99 bad news it was a 15-year high almost to the penny. bit of a double top. i think the market was more concerned about revenue miss eps was good, revenue miss in this environment she should be

better with that said these are vulnerable >> mills >> yeah i do think i agree with guy in a sense that the stock was over bought. it was 50% above its 200 day moving average any chink in the armor you will see a violent move to the down side, exact lip what we saw. what worries about stocks like this and about commodities is my view on the economies, if you look at manufacturing pmi versus the price of aluminum they move on top of one another. there's extenuating circumstances and commodities are more boy ant in an economic slow down but given my view of the slow down of the economy, i'd hold back for now. >> if your base case is recession, grasso, are these stocks a sell? >> i think they are all sells. i think saying the same thing that guy and jeff said, they got

way ahead of themselves and jeff brought it up earlier, if we are at a peak inflation right now then everything across the commodity space is a sell. i happen to believe we're at peak inflation and sometimes you don't know until it is in the rearview mirror. all of the charts in this sector are signifying inflation is not going higher, it's going lower. >> coming up, has netflix chilling out, plummeting, are we seeing an entry point, chart master will lay it out. >> and fast pitch real heater, the name straight ahead. you're watching "fast money", live from the nasdaq marketsite in time square for back after this

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welcome back to "fast money", netflix lower after dropping 35% on wednesday, but the chartmaster says this may be the time to get into the stock let's bring in carter worth of worth charting carter, what are you looking at. >> before we look at the chart let's talk about some things that are considered reckless, one is a great adage, don't catch the falling knife, this is worse than that, trying to catch the falling piano but i'll make the case to do it. let's talk about what we know and then we'll get to the chart. you have a stock, 21 in january drops in gaps 21%. 21 april, earnings, it drops 37%. first thing we know earnings risk is out of the way we're not going to get earnings tomorrow to make it go down. second thing, stocks drop in twos and threes.

we had our first and second drop you don't often get the third. you do sometimes but a lot has been priced if in is a best subscriber growth, or who shares the password, turns out, no one know what's it is worth, the street is upside down and sideways but we have a stock with tight, aggressive selling, you make a trade now look at the chart this is important. this is ratio chart, relative performance of netflix to the nasdaq composite since the ipo some ten years ago, in may of, well, it's exactly 11. so what do we have, every time it has to bounce does it have to no but here's what we know, if it's right we make profit take the money and run. if it's wrong take the money and get out. you're wrong but it's a trade that's all i don't know anything about netflix other than i watch movies on it. >> i'm sure not bridgerton

carter, could those break the line what's the next call you said to take your money and run but is there another level to watch that it would have to hold beyond that trend line? >> no. there are no levels. this is our force measure, right. acts of god. it's been unprecedented. we've had drops in other stocks but all bets are off longs are wrong, shorts are wrong, nobody knows. this is epic now make bets. fresh new money. i think traders play for a bounce if it's wrong, get out. >> carter, thank you bold call, carter worth, worth charting tomorrow is the third day. that's one of the reasons we wanted carter to us through this call steve grasso, as the number one advocate of the three-day rule on "fast money" what would you do tomorrow? >> it has to told. so the third day you have to low the low out of those three days. so i will give you a level so guy and i talked about the 260 level, then it was the 240

level, then the 211 level which is where it is at now. the next level is the 188 level. and that goes back multiple years. but what happens is has to make a substantive bottom so it's not only just a three-day rule, it's got to hold the low for those three days if it continues to make new lows then you got to go on another three-day rule so it could turn into nine-day rule, could turn into second mortgage on the home could turn into i live out of a bag. >> if you keep making new lows the game starts all over it resets. >> wow jeff mills -- ha ha -- i know, confusing. what do you make of carter's charts >> the charts are the charts i think they're very interesting. you could look at another chart, i think this is what steve was probably alluding to you can look at a absolute price chart dating back to the early 2000s and draw trend line higher

and that support is 190, steve said 188, around that level. look to that if you see weakness i was very, very wrong about this stock i was advocating buying it into earnings i thought around 350 it would be a good performer from there. i think we're at the point now where price levels swinging growth swinging too much in the other direction. i thought it swung to far in the optimistic direction as usually is the case. the truth is usually in between. i don't understand the numbers reported so in the near term all bets off. >> the average price of the street after today 346 for context. on tuesday, i came on the show and thought you would see capitulation elimination the next day and hold to 60 and have a favorable bounce but didn't happen and tim and karen said that night we got to fade it. you have now 200 million shares

traded in last two days and looking at what should be capitulatiory bottom by the way felt table in the background to match his sweater, exquisite. >> i'm sure he thought about that when he pulled out that crew necn. tim seymour bought after the last disaster quarter how you are you feeling about your position. >> i think maybe the three-quarter rule for netflix because this stock has gone from a case where people actually believed we didn't need to see their subscriber numbers were linear and consistent now suddenly nobody has any idea where they will grow while i was a one-day or one hitch quarter rule, i think three-quarter is certainly relevant to all of the questions around them. every check mark in the bare thesis at $13 a share, which is what they will earn next quarter is

not aggressive relative to where people think they can be profit 18 to 20%. this is an 18 multiple 18 back to willie and carter wolf, i mean, carter worth, you got a case here i actually believe the stock on the charts may be interesting but for value players, i realize may be too early to go from growth to value stock but this is not that expensive and not this cheap in a decade. >> it was also a monster day for netflix options, mike khouw with the action what did you see, mike >> no surprise, netflix very busy, traded four times it's average daily options volume, fourth busy single-stock option today after tesla, apple and nvidia it traded nearly 800,000 contracts and lots of puts trading last couple days as well if you look deeper under the surface seems some people are dipping their toe in the water and think they're ready to draw

a line in the sand first, we saw upside call purchase that expire next week and out to may secondly, some of the put activity we've been seeing were actually sales one of the largest was may 175 puts one thousand sold for $2.60 per contract that's somebody saying i'm willing to go long at 175 collecting $2.60 a share to do it may not seem like a lot but it's 1.5% of the strike worth 16 times earnings at that level. so i think we're starting to see some people thinking maybe it's getting a little bit cheap now >> mike, thank you mike khouw, for more "options action" tune into the full show tomorrow 5:30 eastern time coming up, big stock moves, trader choice next first, we have a fast pitch coming your way, fintech name that could be a real slugger for

your portfolio "fast money" back in two >> announcer: get your trades to go with the "fast money" podcast. catch us any time, anywhere. follow today on your favorite podcasting app we're back right after this.

welcome back to "fast money", paypal shares tumbling almost 6% today but our next guest believes will break out of its slump. now for her first fast pitch, what do you like paypal? >> thank you for having me on. look, paypal is a leading online provider of online payment solutions to customers and merchants. they have 425 million active accounts and over $1 trillion in payment volume we like it for three main reasons, look, we seen the pandemic impacted long-term e-commerce and retail sales trends we believe the online percentage will pick up in 2023 and paypal is prime beneficiary of it. another reason, ebay is no longer overhang they have significant growth after spinning out in 2015

last but not least, right now paypal is attractive valuation trades at a growth adjusted discount to its payment peer group making it attractive from a valuation perspective as well. >> the problem is that the payment peer group is not one that performs well in this sort of market environment. it's important to say that you see this for a five-year time horizon, correct >> yes, that's correct i mean, look, there's volatility in the markets and we've been closer to earnings and have seen overall the payment group has kind of not done as well in general but from a longer-term perspective you're looking at long-term retail trends and online shopping trends and movement from cash to cashless really growing and that's more reflective in a five-year view than the next couple quarters. >> didn't the company tell us they are worried about growth when growth has been sub-par and just with their interest in p

pinterest if you look at five years, a lot could happen and though it is pummeled could be a value trap. >> yes, five years is a long-term period of looking at the stock. and yes they have mentioned some concern but for us, when we model out paypal we're not using consensus numbers we're using numbers more conservative and even then we see a 19% expected return, you know, they can go top line growth and compound with a little bit of margin and three in a couple share buybacks and you got an attractive return regardless of slow down on the revenue front. we see that in five-year perspective and under lined secular trends aren't going to go away. people will continue to shop online and have more payments in the digital space so because of that we still believe paypal is a strong bet. >> thanks so much for coming on.

>> thank you. >> time to vote, are you buying the pitch on paypal? guy? >> yes, melissa, first time we've done this in a while can you read it. >> held march 2020 low # gsb. >> gsb on that sky smart board yes it held march 2020 low, did it on decent volume. i think you will get tradeable bounce, and quickly, cfo jumped ship to join walmart >> that's a yes. >> that's a yes, melissa >> just getting to the bottom line steve what had do you say? is. >> i'm going to trade it although i think it looks attractive on a technical basis for that support, i think longer term, too many players are in space and it's sort of out of vogue and paypal recognizes growth has stalled and they are reaching to buy growth versus organic growth >> jeff mills? >> i never know what to write on

this board, trade, fade, buy, sell i wrote buy. i think it's the right stock for this market in the sense it's trading at market murltiple two times the eps growth of sms. i think as earnings slow for the broad mast even if paypal slows it will still be above the broad market so play more for a trade than a five-year time horizon. >> tim seymour. >> what do you think of my smart board, it says buy buy the way i will take a five-year time horizon on almost anything i think the move in paypal which made new, fresh lows -- need water -- fresh lows, going to survive this one, i think paypal will too. >> take a sip, tim three buys on the pitch on paypal which means it's doomed but you can pick on our twitter

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welcome back to "fast money" we have a trader's choice on stocks making monster moves. black stone finished deeply in the red despite better than expected profits with shares up as much as 5.3% highs. csx able to hold gains, topping estimates, saying increase in shipping rates helped to offset fewer shipments and airlines all jumping after positive earnings reports, seeing strong demand and substantial pricing power. disney shares falling more than 2% florida voted to eliminate the long standing district tax there and governor desantis will sign the bill soon. tim, first to disney what do you make of this. >> we forgot disney was trading down on some of the netflix sub dynamics and the fact they're settling in for a battle doesn't

help disney. i think the issues will be around sub growth and broader business on reopening basis all good things for airlines generally good for disney, feeling stronger and getting out in the park, alive and well, the headlines i don't think are around florida, i think it's around streaming. >> guy, i know you're going to bx. >> yeah because you're in my head, often you reside up there. it's 100% correct. >> it's roomy up there. >> it is roomy, not a lot going on up there. assets under management, 41% year-over-year, it's staggering number eps beat was astronomical. you look at the headline ep outrevenue so much more than expected and a year nag line year ago in line that's what the street honed in on the reversal scares me but black stone i think is the best financial name out there. >> which name you want, jeff >> i want to piggy back on guy

i think black stone is interesting. i don't know if it's the right stock for this market maybe gets caught up in financials. but in terms of relative outperformer black stone is really interesting, their product, investment performance, continues to be very strong and most compelling thing is the fact goldman sachs came out and said aum private investments could triple by 2026 from $10 trillion to $30 trillion i'm seeing it, black stone talked about platform expansion, firms mean by that bringing the retail investor into the fold, that will help their bottom line a lot. >> i was going to go with disney but no one went the with the airlines >> you go wherever you want grasso, i give you that license tonight. >> okay, i'm going with the airlines so the airlines for me is experiential tim turnoversed on tim touched on this with disney

properties shot themselves in the foot with what's going on in florida. it's at 118 support a tad above that airline for me is where it's at, they're about to break out, all of the commentary has been uber-bullish, and that's just the start of it with the transgender ports. transports and people not wearing masks is a huge tailwind for the industry. >> coming up, new jersey getting in on the cannabis crazy, legal weed stocks about to hit the green. details next and april is finance literacy month, here's contributor how she learned about money. >> i learned about money because i grew up poor in south texas. any time we went to a restaurant or made any purchase my mother would take out a napkin and do the budget for the month to determine if we could make that purchase that's how i naturally began

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day of non-medical marijuana sales can purchase up to one ounce of marijuana from across the state. now more from miami. boris, great to have you with us, currently three operations in new jersey, what are you saying on the first day for sales. how big of a market will new jersey be for you. >> thanks, melissa great to be here it's a big day today in new jersey yesterday saw record sales in new jersey for 4/20. today we're seeing first day of adult-use sales. we serviced over 1,000 customers until now and still a few more hours to go. new jersey will be a $2 billion market, 2 to $3 billion market, not in the first year, we think the next 12 months will be $1 billion and it will build eventually to 2 to $3 billion

market and with 30% share in that market we're feeling very good with the final ad launch of adult use in new jersey. >> there's a lot of marijuana out there and the industry face a's margin problem i wonder when that gets straightened out on paper seems to be a tremendous sector to invest, is not one that has done well for investor. >> but that's not really a margin problem at all. margins are great. where else in cpg do you get 25 to 50% annual growth with 30% ebitda margins in the earned industry? i think the real problem is federal regulation investors can't invest in the sector 90% of the largest investors in the world, the biggest investors today can't touch u.s. cannabis stocks and that's been a real problem, we need federal regulators to get on top of the issue. >> boris, it's tim, good to be

with you let ask you the following, some type of federal progress on legislation, mna or some type of margin stability, what do you think are the biggest expected drivers for the sector for the rest of this year? >> listen, if you walk away from the issue of the stock market and stocks, you look at the fundamentals, as i said, the industry is growing, cure leaf last year grew over 100%, we're going to grow 25% this year, maybe even more with the adult-use sales coming out a little bit earlier in new jersey, we're going to be $1.5 billion revenue company with 30% margin things are looking very, very good fundamentally in the industry but we do have a plumbing problem, that is, washington is behind the eight-ball behind the federal banking regulation schumer postponed his law.

we hoped it leads to the compete act debated now in congress, the joint compete on competes is 70% for cannabis so maybe we get a safe banking law in the competes act or maybe in the lame duck session in november and december after the election period but we do need federal regulation in the sector that is what will bring investors into the stocks. outside of that, the fundamentals of the business could not be better, we are growing at double-digit numbers and our margins are very strong. >> boris, great to see you thank you, boris jordan of curea leaf tim, see if you can wave the magic wand, what should this stock be worth >> well, let's be clear also, i think you got a case here where a lot of these companies including boris's are getting stronger every day, that the broader lateral players whether pharma, big cpg, can't come into this market, the mode around

their business gets bigger and bigger second half sequential growth with new markets opening is massive. so the sequential slow down will change it's been a tough estimate and a lot of it is technical factors, custodial issues, inability of big institutional. it's a retail market and unfortunately a lot of noise that's that comes with that but i do believe, long-term growth and margin are things you won't see at these levels in other cpg. it's going to take some time. >> just as boris said, you need the federal legalization across the finish line for any of these stocks to move they're treated like drug dealers. you can't run a business the way the federal law is situated right now. all stocks down year-to-date, 20% to 40% right now i think the congress will have one more shot before the mid-terms to actually take the

social aspect out of the new bill and maybe they can legalize it on a federal level and all of the stocks will double, triple, quadruple, they're just waiting for the one federal the bullish headline. >> coming up, just a few more minutes to vote for the pitch on twitter, vote on our twitter at cnbc "fast money" results. cnbc "fast money" results. and "final trades" next.ement p. with you, the party of a lifetime. ♪ ♪ wealth is watching your business grow. worth is watching your employees grow with it. ♪ ♪ with directv stream i can get live tv and on demand together: baseball, ghostbusters, baseball, ghostbusters, baseball... ♪ ♪

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. >> announcer: "final trade" sponsored by -- welcome back to "fast money" time to find out if the viewers at home are buying the fast pitch on paypal. and -- unfortunately more than half said no. 54%. that's probably because our traders voted yes. time for the final trade always happens, always does. let's go around the horn, tim seymour >> going to pick csx, higher yield, below market multiple and discount to other rails. csx. >> jeff mills. >> i'm going the other way on broad transport working on a 12% rally, you fade that as the economy slows, i think they go lower. >> steve >> alcoa down big but can take

profits, sell. >> guy. >> mets are on fire, it's crazy. you know what sells on fire, dgs quest dyingistics big earnings today. >> thanks for watching "fast money" don't go anywhere. "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 i'm trying to save you money my job is not just to entertain but put it in context. call me at 1-800-737-cnbc. welcome to the american industrial renaissance