>> yes, now i want to bike them back they report tomorrow. >> wow, fast money. in the meantime, do not 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. we're just trying to save you some money my job not just to entertain, but to educate, teach you about days like today. call me or tweet me. we know the headlines. dow plunged 800, 900 points.

nasdaq nose dived 3.95%. well, just say there's tons of bad news tons of bad articles "usa today" saying seeing market turmoil, spikes, stocks stall, wall street searches for signs this is the final wash out talking about relentless selling. vix up 23% market is starting to price in a lot of bad potential outcomes such as a recession. some financial crisis. and then investors fear central banks can no longer backstop the market oil prices and a slowdown in china could be signs of a global recession. could drag down the u.s. there's just one problem this isn't today's paper no this is a paper from january 21st, 2016 it isn't this slowdown in china. it's that slowdown in china. it's not these high oil prices

it's those low oil prices, $26.55 worried about the industry collapse and on the day it wasn't down 565 points, it was down a little bit more because it was 16,000-point basis. not a 33,000-point basis so while we should be thinking about the size, the number the dow dropped, what matters the most is the doom while there are hints we may be near the end of the panic, the writer paints the picture. it's still too early to say that the market has hit rock bottom, but there are signs that will eventually clear the way for a recovery end quote. well there it is 2016 now. after today's disappointing numbers, the collapse of what was once fang, the horrendous decline in the nasdaq, i thought it might be good to offer not a

bullish perspective. we don't need that we just need another perspective of what's going on not from today's paper, but from a paper not that long ago because what we keep getting are the same stories over and over sure enough back then, the market held its ground tested that low one more time a month later then it went on to have a 10,000-point rally. pretty much in a straight line i never want to be sanguine about a sell off especially this one. the damage is severe especially in the technology stocks and there are real reasons for the fear, but just like 2016 where i read you the exact quotes, you have no idea whether we could have a snapback we know this there are three culprits the fed, russia, and china anyone of them could put an end to this meltdown just like six years ago. one reason why we got slammed today is earnings. we had a bunch of big international companies yet the

market wasn't buying it. too hard we still haven't seen any sign that is the fed, russia, or china will change its course back in 2016, china changed its course pumped up their economy. the fed got less hawkish this is what happens they're setting it up. just not fast enough for you and me now if you're general electric, which reported an intensely disliked quarter today, you need to see your supply chain get sorted out, china get better and end of the war in ukraine. tall orders. i could see the same with 3m raytheon could have joined them in the dumpster if they weren't a key arms supplier. yes, the bear case is pappable the fed needs to shock the system with a triple rate hike knowing it won't cause mass unemployment there are too many job openings as it is what it would do is help bring down some of these material

costs there are teetering and need to be pushed over the edge. they can be pushed over the edge i think it's bet r fter for the to get it over quickly if they hit the brakes in the economy, we'll need less stuff and lead many of the bottlenecks i keep hearing about on every call i'm on. how about russia every time we think putin might be willing to ease up, they talk about using nuclear weapons. it's dr. strange farcical. a week ago, sergei loy lavrov, knowing the russian army was in retreat, assured us nukes were off the table. thank heavens. today with the russian army about to advance in eastern ukraine, nukes are apparently back on the table from this man to scare us away from sending ukraine much needed tanks. i'm glad our leaders are calling the bluff. on china, how long can we be hostage to their economic weakness 2016 it's all we talked about

ch china's reminding me of the lincoln tunnel scene in the stand. where soldiers on the jersey side of the lincoln tunnel huddled in machine gun nests trying to stop three new yorkers infected with a naovel virus they failed. unlike 99% of the infected, the number of people who died from omicron after pfizer vaccines is small, unfortunately, china refuses western made vaccines even though they have much better efficacy so the lockdown keeps spreading because it's the only way they think they can contain the virus. it can't memo to president xi you can buy the manner issue of the stand on amazon. it will be there by wednesday, may 11th, guaranteed no late for every city to come down with it, but act now. we don't know what would put an end to the panic

there are lots of people huddled with few expensive safety stocks coca-cola, pepsi can't blame them others including my charitable trusts and the oils. some have 78% dividend yields as long as the price of crude stays near these levels, bounced again today. still others are hunting for pricing power. the ones that can go through price increases without losing customers. chipotle can do it the test of ugliness that's been good grounding for a bottom before because these three moments were more terrifying for the stock market than anything that's happening now all three groups are not making money. however, here's how i look at it at the moment, we have three tract abl problems if one gets solved we might find a bottom worth testing

two, a massive rally and we're in the heart of earnings season so there are other potential positives. we could expect -- i think the sell off could look like an overreaction microsoft reported an excellent quarter. nobody wants that because it's part of fang it's four letters that might as well be one giant scarlet letter it's untouchable people hate some stocks dourch down 50% from where they loved them even as the semiconductors and software names have been bludgeoned, still give them another whack. i just need to remind you of one thing. now if you go take a look at the chart of the dow jones industrial arverage over the net seven years after the "usa today" paper i read you from, next seven years, look at this you'll see that the early 2016 meltdown that was so bad that was worse on a percentage basis that scared everybody out, that

got people from thinking that you've got to get out because it's a bear market, well, guess what, it's barely noticeable if you're like me, you probably don't remember how that darn sell off happened. we've got three big worries in this market, but we've been worrying about them for weeks or months and i think we need to start preparing ourselves for the possibility that something may actually go right. that's been the usual trajectory of these horrifying sell offs. i don't know why this one would be any different mike in connecticut. mike >> hi, jim boo-yah! >> good to have some spirited boo-yah. >> i got a question for you. with the only u.s. flag cruise ship getting back into service, pride of america is ncl a buy or sell >> look, i happen to believe that these stocks are buys because we're traveling again. we're hearing this over and over and over again the problem is we've got a lousy

market in a lousy market, people want to sell anything that's got a lot of debt and norwegian has a lot of debt. when you have stocks like alphabet that are down 200 points, people are looking to flee the market. maybe they should be looking to get in, but they want to flee. we continue to be worried about the fed, russia, and china, but i think it may be time to start preparing ourselves for the possibility that something may go right although it doesn't seem like. tonight, could callaway golf be a hole in one for investors? then after another tough day for the arches, is there an end in sight for the pain i'm going off the charts to find out. and chipotle reported at the bell i'm running through the report with the ceo so stay with cramer.

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...starz... ...and peacock. just say “watchathon” into your voice remote and get ready to watch! i love you! i love you! i love you all! a few weeks ago, we dusted off our work on the golf industry a couple of favorites, callaway golf at the time, i said i prefer the former because it's become less of a pure play they've also got a bunch of a adjacent businesses like top golf, which they acquired last year that massively increased the share cap. more shares mean fewer earnings per share. but today, they held an investor day event where they announced better than expected results and

provided encouraging long-term forecast any other day, the stock could have gone up, but unfortunately, this is a hideous moment so they rolled over. down 7.5% today. i don't think it represents what was said let's take a closer look with chip brewer, the president and ceo of callaway golf hear more about the vision he presented to investors mr. brewer, welcome to "mad money. >> thanks, jim great to be with you today >> until i read through your deck, until i studied your company, i had felt it was a company, it was largely involved golf, but then we did the deep dive apparel. top golf of course golf itself, but everything i've got to tell you, i think that top golf is one of the most exciting concepts in the world so i'm trying to figure out why your company is only a $4 million company with all those things going for it. >> well, jim, i think you might be on to something there

we couldn't be more excited. i'm joining you today from our newest venue out here in el segundo. i think your old stomping grounds are close to it when you lived in l.a. many years ago >> true. >> top golf asset is beyond exciting and the total combination we're putting t together now is the leader in what i call modern golf, which is a very high growth and exciting emerging sector >> yeah, when i look at non top golf, high single digits, callaway golf, 10 to 12%, top golf, 18% for revenue, i'm trying to figure out is it because there aren't enough of them i was talking to my wife she's a golfer she said we ought to go there. it's in holtsville there are people who want more than anything else in the world to play your game. you don't have enough of them, sir.

>> it's an excellent point, jim. we need more and we're going to be building 11 per year. by the end of the year, we're going to have 81 owned and operated venues. you know, this has really moved from a regional player to a national player and the venues do well every place we put them. north, south, east, west heartland, coast so we're really scaling up and you've seen the results start to drive with that, too just last year in q3, we had higher ebitda from top golf than they had in their whole record year so one quarter did better than their record year prior to that. and we're scaling it and growing it from there. the world needs more and they're opening really well. >> i want to drill down on that because we had a couple of reports that said video games inside aren't doing that well. well video games, eat chips, drink beer, play games i look at what you do at top golf, you really have a great food concession. tell people more about the

experience >> the experience is unlike anything else. so it's for golfers, but it's not only golfers i mean, more than half the people that come here don't say they're not traditional golfers. so it really is society at large is the total addressable market is the entire universe of consumers. it fits the experience culture dead nuts on right now in terms of what it offers and you really just see that people love that experience they go out and they hit on a digital driving range essentially with music with good food with beverages they're having a great time with their friends. but it's inviting. it's easy. it's the greatest thing that happened to golf since tiger woods. it's not only transforming the game because off course golf is the same size as on course now,

but growing so much faster it's going to be a major driving force for the entire ecosystem going forward. >> yeah. i just think people need to know let's talk about jack bollskin last week, there was an interesting presentation by lululemon. what do they want to move into where jack wolfskin is there are lots of companies in a crowded area how can you distinguish this incredibly could brand, german, over 40 years, so that people understand this is the premium one in the category? >> it's tough in the u.s. because people haven't heard of jack wolfskin here, but we showed data today it's got the number two net promoter score in central europe so the consumer basically says they love that brand more than any of the others you just mentioned. it has the number one most desired jacket it's the number one or two most

susta sustainably oriented brand in those markets. just because the u.s. doesn't recognize it doesn't mean it isn't a great brand with wonderful potential. this brand is the leader in central europe and a strong player in china. so two key markets and really starting to deliver momentum and growth and sell through. the u.s. is just upside for us going forward. strong brand, strong fundamentals it fits well within our overall apparel portfolio, which is now, we provided information today, will be a billion dollars this year >> i keep thinking if you were not called callaway golf, would people know that you're bigger than this? because so many people who got started in trading stocks just said, oh, is the masters going to be watched? i'll buy callaway. that's a false construct

entirely sir. you're much more than that you think investor day got the word out to get started on who you really are >> i think it's starting to, but i think you've got a great point. they just think of us as what we were and we have completely transformed the brand. we are still the old callaway. the leader in golf equipment on a global basis a great business that's obviously had tailwinds and we will never give up on that it's our roots, right? >> right >> but we're so much more than that now we're the leader in modern golf, which is so much bigger. so much higher growth rates. the people don't, particularly in this market where there's this risk aversion and uncertainty, i just don't think they've fully internalized it yet and we're going to have to prove it every day we're ready to do it >> i think you've got to because it's such a good story i was quite surprised when you looked at the masters then the conference i'm glad you came on, chip

this is a terrific story it's come down a lot president and ceo of callaway golf thank you, sir, for coming on "mad money." >> thank you so much, jim. >> so, guys, we're looking at this tech implosion. i understand you think, wait a second is there anything that i can buy that is gaming because gaming seems to be the talk of the night? i want you to look at callaway golf there's much more to it than i thought. "mad money's" back after this. coming up, the indices indicated. cramer goes off the charts to get you one step ahead of the game next

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after yet another terrible, horrible, no good, very bad day, it is worth pondering why this market keeps going down. i know there are a ton of

reasons to be bearish including earnings from alphabet tonight, disappointments have been coming with some regularity the fed signaling the breaks in the economy. the russian invasion of ukraine and food prices skyrocketing wall street's had two months to adjust china's never ending lockdowns that's now same old, same old. we've had plenty of time to adjust to all those negatives. so when will this market find bottom to answer that question, i want to get out of the emotional game and into the the mathematical game or at least some game that doesn't require people being fearful. take a more quantitative approach tonight, we're off the charts with the help of carly garner, author of high probability commodity trading. garner points out that the correction is still well within what you'd expect from

historical average she says declining markets often find support from quarterly earnings especially when seasonal trends are on your side, which they're supposed to be now i want to throw in the fact that commodity prices have moderated while we've seen some signs of stability in the bond market, she thinks you shouldn't let today's monster sell off freak you out, although i know it did to many. she's not predicting blue skies, but she believes this market is heading for a holding pattern where we could see some surprising strength. don't get your hopes up, please. she's adamant you can't expect the same kind of upside from 2020 and 2021. let's start with a daily chart of the vix going back to 2020 now we often call this the fear gauge. i focus on it a lot. but what the vix directly measures is how traders are buying put options to hedge

their positions. if you think of put options against insurance, this vix reflects i when it goes up, traders are terrified. the vix and s&p 500 tend to move in opposite directions, you can expect a peak in the index is good news for the stock market and garner's seen signs of a peak here. especially the vix i thought this was fascinating the vix is making what looks like a head and shoulders formation. okay that's a very reliable pattern not a bottle of shampoo. that usually leads to this okay while the vix is currently over 30, as long as it doesn't break 35 and start again, you're in heads and shoulders pattern she sees it heading much lower perhaps the teens. when the vix goes down, the s&p almost always goes up. i was surprised it didn't spike here i would have expected that therefore i think she's on to something that we would have

seen a short-term end to a decline. look at the biggest black hole in the market. the nasdaq 100 this is tech heavy index a lot of people blasted fang today. we've had to cut back from the charitable trust there's too many other situations and fang is too overexposed. this is the 100 larger non financial stocks this is the worst start for these stocks since 2008. that's very important. it's nasty elon musk's bid for twitter in part financed by margining tesla stock. when they margin the stock, basically the broker takes it and the stock goes down, they'll sell it in the open market garner says this picture is a nice reminder of where we are and i think this was a disconcerting chart. while the nasdaq 100 has pulled back hard over the last five months, right, the current correction is still minimal compared to the monster 20-month long rally from the lows in

march. and now look at this see, this down versus this up, well, you get the picture. remember, tech is unwinding now. if you're incredibly exposed to it, that's what these moves are about. the netflix in fang. the google although i don't think it's as bad as people think. from the bottom of 2009 to the peak of 2020, that's 11 years, the nasdaq 100 rally, 7,000 points you don't have to worry about spedometers, radar guns. nice pace. covid rally covered 10,000 points in less than two years. if it stuck to its old trend, garner points out it would probably be around 8,000 points higher not 13,000 it went up too far too fast. she can't completely rule it out either even if the nasdaq 100 only makes a 50% retracement, that would take it down to 11,750

so still some downside more than 1,000 points from where it's trading although not a disaster however, when you zoom in on a daily chart of the nasdaq 100, garner says this picture is more calm k this thing's got a trend line going back to the lows of march '21. so here we go. just under 13,475, but unfortunately it broke down below the trend line just today. because of this, we are now in a make or break moment if it can't -- if it can find its foots above 13,075, she wouldn't be surprised to see meaningful trend change. in the lows, 1500, boy that would be a nice break if you're a bull however, if it stays stuck below this key support line, here again, this is where we are, well, next floor is 12,050 if we get the kind of pullback that she thinks would be an attractive opportunity she's not cutting and running. remember, we're already down 20% for the year what she's saying is it's a

little muted we've given up a lot the other chart was boom, boom but when you look at this daily, it seems like it's more like that and not as frightening. now, how about the broader stock market take a gander at the daily chart of the s&p 500 according to garner, monday's daily price was a textbook key reversal pattern you saw the problem in these reversal patterns. today, we've had four of these these were typically in my experience, reversal patterns that led to a great next day well today wasn't a great next day. we've had four and they only result in follow through buying about 50% of the time. in other words, it's a coin toss whether this will mean anything and right now, the coin toss says well, you lost if you, it's like you call heads and tails. even when the s&p bottomed on the 14th, there wasn't much staying power. then the s&p started rolling

over again so as garner sees it, the s&p 500 may be stuck in a holding pattern. major support holding up right here though we note we fell below that first level today powerful, bad day today. same time, we've got a ceiling of resistance at 4450 and 4700 she suspects we'll bounce between these levels after we broke through the first floor of support, she wouldn't be surprised to see it go to 4,000. that would be tomorrow's business again, i like a technician who doesn't cut and run when the thing drops. she says you need to get cautious near the high-end we're no longer in the post covid market that's over. here's the bottom line like in january, the chart suggested near term pain might soon be over you can't expect us to go back into a turbo charged rally mode. she expects a long period of

consolidation. i think she makes a pretty compelling case. we put a little more than 1% of our sideline cash into the market today for the charitable trust in case we get that reversal didn't want to put more than that because it was so ugly. sometimes, ugly means buy. alan in nevada >> hi, jim great show first time caller. >> oh, thank you what's going on? >> wanlted to talk to you about fortinet it appears to be losing money, but the main competition as well and they also seem to have, they're making it as well. >> well, fortinet's part of a cohort including palo alto and crowdstrike that are the last remai remaining high multiple stocks that have been able to hold up in this environment. anywhere in this i think is fine, but please recognize high multiple stocks frankly have

become -- in most people's portfolios and i'm not going to deny that. it's true. tonight's chart has suggested near term might might soon be over sure didn't feel that way going into close, but we won't be going back into turbo charged rally. that may be history. much more "mad money" and my exclusive with earnings and chipotle could this quarter give investors something worth nibbling on? you're going to want to watch this when i talk to the ceo. then exciting headway for twitter with elon musk at the helm i'm using an examine example from my past then the lightning round so stay with cramer.

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what happens when a beaten down growth stock reports a phenomenal quarter chipotle's stock plummeted last fall it's part of the rebellion and it's been hammered over the last week but when they reported after the bell today, wow, the results beat expectations of nearly every major line item. more important, management gave you a bullish forecast for the current quarter, too wasn't perfect came in a touch light thanks to higher food and labor costs. sometimes i would think -- a spectacular loss by the company and this was just a very good quarter. although the stock has pulled back i was impressed. don't take it from me. let's talk to the chairman and

ceo. we'll learn more about the quarter. welcome back to "mad money." >> thanks for having me. good to be here. >> brian, i've got to tell you, in your company's in a vacuum. you had great top line growth. great same store sales growth. really good margins. how come you're able to do when it's a normal time when it's anything but a normal time >> we're very fortunate to have i think just some of the best leaders in our company with a just tremendous brand and i think we've just built a lot of momentum in the business we're managing to navigate, which has been tricky headwinds. l >> let's talk about staffing they can't find people that does not seem to be your problem. >> you know, this speaks i think to the company's purpose of cultivating a better world it also speaks to our growth and commitment to development. we just had our all manager

conference where we brought together 3,200 restaurant general managers and field leaders go got together for the first time in like four years. we celebrated so much growth people getting promoted. people running new restaurants and i think that really attracts people to chipotle and i think they're also attracted to the purpose that our company has, which is around food with integrity and cultivating a better world our staffing is at leveling pre pandemic and our turnover is probably the best it's been in i don't know, couple of years. especially at the manager level. >> this is rather extraordinary. some of it is because you do some terrific things in terms of education, disciplines at ten universities 5250 tuition but other companies that are struggling with you. i know that if you're management, it's not historically the greatest thing you do when i read through this, it seems you have some sort of

secret sauce that makes it so, i don't know people want to work there. and they're not trying to unionize they're just trying to work at chipotle so it's got to be management, but also ethos >> that's what i was about to say, jim our culture. values, purpose, is what really resonates with our people. i know that to be the case like i said, when i was at our all manager conference and just last week, i had the opportunity to be in a couple of restaurants. our folks are so committed and passionate to the idea of growing chipotle if we grow the business, we do good in the community, we do good things for our people you just mentioned all the great benefits that really sets us apart. we're going to stay committed and stay hard on the idea of inve inve investing in our people, culture and purpose. >> i think even to what you do d digital it shows that's the

case when i hear you do digital, it's something a lot of people don't want to do talk to me about chipping. >> yeah, so you know, funny you mention this one of the things that actually got a standing ovation from our managers was this idea that we were going to try to find ways to automate the jobs in the restaurant that are just hard to do makes the job more difficult and you know, it's one of those things that if we can automate, make it easier, i think we can get greater job satisfaction, more retention, more excitement about the work one of those examples is frying chips. we fresh fry them every day in our restaurant and we were able to partner with miso robotics. we created a robotic arm and it literally fries the chips with salt and limes if you had our chips, you'd know they're pretty special this robot knows how to recreate this we're looking for additional ways to do this. how do we eliminate dish washing? cut and core avocados.

your guys love mashing them. we're not looking to replace that we're trying to find the things that at the end of the day, the employee would say you made my job better then also for our customer, we don't want to, you know, take any compromise on the culinary or deliciousness of the experience that's the balance we're managing >> the new ones are obviously. we had the delivery today. at the office. what's the right ratio >> well, you know, look. what we know is there is a delivery occasion that customers want and we want to be available for it it's going to be priced for it so that the economics make sense for the third party and it makes sense for our company. at the same token, we're working really hard to make these digital orders as seamless, as easy as possible and that's where chipotle comes in when you order digitally, select your time to pick it up, you don't even have to get out of

your car just zip up to the window. you'd say jim cramer's here for my bowl. and you're out of there in less than two minutes what we're finding is people value that valued proposition and you know, it's very attractive to people in some cases, it's a better proposition than delivery because you control the experience more than the delivery experience. we want to be available for all the occasions. we're just doing everything we can to make the digital occasion as frictionless as possible. as easy as possible. then we won't compromise on the culinary >> i think all of us customers know that. one last question. the other day, we have people sending in all sorts of numbers. rice, all time high. beans, high. avocados are insane. chipotle is a huge consumer of these. what can you do to off set them without raising prices too much? >> yeah, look, we have a full-court press on driving any inefficiencies out of the system i have to hand it to our supply

chain team and our partners that supply us. you know, fortunately, we don't buy a lot of conventional items because we have a different food ethos and principles so that helps us in some of the inflash their environment. it's getting harder and harder here's an interesting fact, jim. just in the last 18 months, you know, if you look at what our food costs have been over the last ten years, they're up like ten points 15% of that increase has happened in the last 18 months so it's real and it's something we've got to deal with. but you know, the last lever we want to pull is pricing so we're doing everything we can to squeeze out any inefficiencies >> i've got to ask you every time you come up with a new one, we go crazy how's the reception on this one? >> it's, you know, i hate to say it's our best because it seems like every time i say this is

one of our best, we beat it. but this has really rung the bell with our consumers and you know, one of the things that always guides my thinking on this is do our team members love this they love making it, eating it, serving it it's performed really well for us >> congratulations this is a terrible market. let's put it aside if you haven't bought it yet because this market doesn't like things, but you did a great job. this is the way i want chipotle to perform and you've exceeded once again chairman, ceo of chipotle. great work thank you, sir >> thanks, jim 570 versus 564 do you like the food is it a great experience the numbers are right on target. "mad money's" back after the break. chill man is in the house.

he's happy >> the lightning round is coming up when "mad money" returns. is it some magical number? something we just achieve at the end? or is it a feeling? a freedom, to live our lives the way we intended. through the ups. the downs.

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it is time and then the lightning round is over are you ready? al in pennsylvania al >> hey flr. buy, wait, or avoid? >> which stock floor? no under no circumstance

you cannot buy a stock of a construction company in this environment. nick in new jersey >> boo-yah, jim. nick from jersey city. how are you? >> long day, nick. i'm okay how about you? >> excellent glad to hear it. i'm dying to sink my teeth into a high dividend company. is all plains all american the right one? >> i'd rather do enterprise partners, but plains is making a comeback tim in illinois. tim. >> yeah, transocean limited. >> 4 bucks, you know, look, they can only -- stocks stop at zero. offshore drilling according to schlumberger is making a comeback anthony? >> boo-yah mr. cramer, my question is tilray >> he's doing a good job, but

until we get federal legislation, these stocks are impossible to own. david in illinois. >> hey, how are you, jim >> good, how are you >> i'll be quick by, hold or sell on allied financial. >> people are so worried about the recession, you're going to be too down market i prefer you own one of the majors how about jeff in florida. jeff >> hey, boo-yah, dr. cramer. >> okay. >> anyway, i've been missing something here the market cap is only about a billion dollars. i think the news that came out recently is worth a lot more than that. >> i know the company well dr. steiner's been on the show that drug they have is in phase two. it shows very good results, but we need to see a little bit more, but right now, i understand how you feel. and that is the conclusion of the lightning round.

>> the lightning round is sponsored by td ameritrade coming up, extra, extra, tweet all about it twitter's future now rests on musk cramer on why that's not such a bad thing. next

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let me tell you a story that can illustrate what elon musk might be able to pull off with twitter. something that matters because we borrowed against a ton of tesla shares now everybody's worried those shares may get sold. 25 years ago, i started thestreet.com. i promoted everywhere. yet aol was in its glorious heyday we supplied aol with a news feed which we converted to sub skr scriptions at a remarkable rate.

i made the deal with bob pippin. i just liked the guy he wanted me to one. then one day, pittman came to see me with this really thick deck that would cement it as the premier for business news. more partnering. joined at the hip. i was lapping the stuff up then the last pitch in run for all aol would do for the street, they wanted us to pay them $2 million. i said hold up right now, aol pays me $2 million. now we're supposed to pay you $2 million for the same thing he said, hey, this is the cost of doing business with the new aol. i thought about it for all of two seconds. i don't know if he cut me off that day, but it was done for. i think elon musk can have a revelation with twitter. there are so many great ideas from correct response ads. second, there are businesses built on twitter like my

franchise was in the '90s. so he can say the ride's over and who can say no twitter doesn't really understand that. i've tried to drill it in their heads. third, twitter can get more targeted with its advertising. they can become zip code fri friendly or they can go premium, keep free twitter. may twitter security for direct messaging is so strong, musk can plug your tesla into it. tesla right into twitter more importantly, they can use it for banking and shopping. problem so many people have with this acquisition is they look at twitter's growth path and don't know what the site could become, but there are so many way to monetize this business without ruining the user experience. if musk just makes the people who made the career pay for tweet, for subscription, you could have a darn good business

model. tesla stock plunged 4% today people can't handle the prospect of musk selling his stock, but a lot of people didn't believe he could make money with tesla either look how that turned out i like to say there's always a bull market somewhere. i promise to try to find i it fr you. the news with shepard smith starts now >> leaders from 40 nations meet in germany to get arms and aid to ukraine i'm shepard smith. this is the news on cnbc >> a fresh show of unity against putin. >> ukraine clearly believes that it can win, and so doesane here. >> the action taking today and the new reporting on how the use helped take down a russian plane. >> support and scrutiny for elon musk the new fallout over his twitter deal, and the hit that tesla's stock just took. >> a kidnapped baby found alive. just a day after being snatched in broad