consume remembers looking for a deal and are spending on what they need, not what they want so that bodes not so well for macy's and nordstrom tomorrow because they sell a lot of discretionary stuff, handbags, clothes, et cetera it does bode better at least for costco and kroger who sell a lot of groceries >> all right melissa. thank you. we've got to close out here. that does it for overtime. "fast money" begins right now. right now on "fast" tesla's investor day under way we're expecting elon musk to announce his long-term expansion plans, a potential new factory in mexico, a new model y and more will this be enough to keep this year's bull run rocking? we'll debate that, the sales force surge, rocking harder on a beat and strong guidance and a large buyback. we'll begin side the numbers minutes from now and later washington's anti-esg moment moments ago. the senate has voted to repeal a rule that allows retirement plans to consider climate change and other esg factors into their investment decisions

how big a blow will this be to the trillions in these funds elittle's major price cut that will make getting insulin for diabetics much cheaper i'm melissa lee. this is "fast money. got a full desk, steve grasso, karen firn man, dan nathan and courtney garcia. we start off with tesla's big investor day with elon musk just taking the stage in austin to lay out his long-term goals in tesla, expansion plans and a whole lot more he started this event 30 minutes later than expected. phil lebeau has been monitoring all the action phil >> reporter: melissa, the first 30 minutes of this has been talking -- elon musk talking about his vision for the world becoming sustainable in terms of energy and what is possible and what he believes is possible this is very much 20,000 feet looking down at what -- what is possible breaking away from fossil use the there's been no news so far germane to tesla investors

in other words, they haven't talked about future production plans or future models, et cetera they are just starting to get to that point, and i suspect within the next 15, 20 minutes we may have some news we're going to go back into watching the rest of the investor day, melissa, as soon as we have something we'll send it now back to you. >> yeah. he is talking though, phil, about the switch to iron-based cells in electrification because that's a shift already going on in terms of china versus using lithium ione phosphate batteries but that's a longer term thing for sure. >> reporter: longer term that's all this has been so far in terms of this is where we could go, not just tesla but the entire global energy ecosystem, if you will, 10, 20, 30 years down the road so we're still waiting for the specifics that relate to it's la, and as soon as we have any we'll let you know. >> thank you, phil, phil lebeau monitoring all the action at investor day the stock holding steady in the after-hour session down

fractionally, 1.5% decline in today's session. what do you think? >> part three of this master plan all good stuff pushing the world to a place that we all want to be, less dependant on fossilules and if you want to give him any credit for anything he's done over the last 15 years it's that. the here and now though when you look at the stock, okay, it's had a huge run off of those lows and when i think about this, i go back to 2019 when the company on a gap basis was still unprofitable their gross margins were 17% okay in, 2022 they topped out about 25%. they are expected to go down this year to 22% the stock has been cut in half from their late 2021 highs it's interesting to me year over year, earnings this year are expected to be flat, okay, despite revenues supposed to be up 25% we know that they cut prices dramatically on many of their models i still think that that earnings estimate for this year is really under pressure here given those price increases and especially if we see this sort of economy that i believe we're going to see in the back half of this year and some of the issues that

they have in china to me the here and now, i think the stock is still really expensive here, and i think the earnings this year are still pretty vulnerable. >> so i don't disagree with dan on it being expensive here it had that run up 100 points. i -- i sold my stock that i bought around 100, sold it up around 200 then i gotsucked back in because there was a gap in the chart up to 230, so i'm not -- i'm not totally against the overbought issue, but look what happened with fisker and all these other stocks. >> georgetown ford. >> ford, exactly, ford which is a mainstay company so on a relative base tis looks like they are knocking it out of the park so it's hard tore me to think after consensus day it will trade down 10%. that's what it always does maybe this time is different. >> so you're going to go --

consense just that so you're going anti-consensus holding it long thinking it won't go down after investor day. >> i'm hoping. >> even though it moved according to consensus into investor day it won't move according to consensus afterwards >> it wasn't it was the after move off that have 106, 100 level that really kind of made it pop of higher, so for me it came in from about 214 or so all the way down to 200, so i think it -- it sucked out a lot of that overbought, and i think you have another shot maybe that it pops. >> right what you mentioned in terms of the other ev makers, granted some of them have decent balance sheets rivian cut its forecast, ford is having difficulty. stellantis is talking about having to get costs down it's not an easy easy even for the legacies to break into doesn't tesla make themselves seem just head and shoulders above the rest because of where they are and by the way their

balance sheet is not bad >> right. >> all that's true are you saying that should be a headwind or a tailwind that nobody can do it like tesla can? >> that the competition was already in the bear case but the competition is having difficulty. >> yes, but i think we'll see the competition evolve more. >> sure. >> and of that handful of names that you put out there, we won't have five fingers left on that handful in, i don't know, two years maybe. >> yeah. >> you about i think that still the competition is coming, and, i mean, to me -- i don't know how much the problem of the 101 to 202 i understand what you're saying the last 12 points down but that's correct you know, 100 points up. how much of that is into the meeting? that might be a fair amount of meeting. >> and think where dan started off, where tesla came from originally though to get down to 100. >> never should have been there. >> exactly. >> i accept it never should have been there that was peak anti-elon sentiment when he was, you know, seeming to isolate part of his

potential customer base, let's say that dan says it a different way, but it's pretty much the same point, so i think that was max elon -- elon being difficult he sort of really pulled that back in. we'll see. it's interesting that they would start half an hour late. what's that about, like a fashion show >> earnings were almost an hour late so i don't know. >> you're forgetting, he's the ceo of twitter, of spacex, of the neuroleague and also of a $600 billion market cap company called tesla so 30 minutes late. that's fine. don't worry about it >> i think what's interesting, you guys are bring up competition and how maybe competition is having as hard of a time because they are coming at a later stage i was looking at a survey where rivian had higher customer satisfaction than a tesla so the question is what do consumers want to buy and tesla has a really big push where they are

trying to get 20 million vehicles sold by 2030. >> it's also eight customers at rivian. >> not hard to knock it out of the box. >> a really ambition goal considering tesla is the largest selling automaker. tesla is trying to get to 20 mill gone 2030 that's assuming they are selling a lot of cars. the demand has to be there for that, and i think that's -- i don't know if they officially announced their next plant yet but they would need that and the demand has to be there and i don't see that yet. >> elon musk said he would need a dozen factories to get to that target this is going on as we speak the only other headline is that the szish truck is coming out in 2023 which is basically reaffirming the forecast date from before, but we'll keep you posted on any other developments meantime, stocks kick off march on a out mood know the s&p and nasdaq down fractionally while the dow managed to eke out a gain. yields were higher across the board.

ten-year yield topping 4% for the first time since november. resource stocks rocketing higher again today as strong economic data out of china subjects that the company is rebuilding well from its covid lockdowns chinese tech stocks also jumping, k-webb, putting in its best day since january 4th china is the place to be i guess. >> china is the place to be now, and then in two weeks it could be not the best place to be. when we see every geopolitically wise, they are still on the edge of the sword, right, so it's -- it's -- i don't want to say it's uninvestable, but when you look at the resource trade, they had great januarys and horrific februarys, so we're coming off of a low, a synthetic low. whether or not you could say they shouldn't have been that low coming out of january for the robust january and shouldn't have been that low in february, but they are still based on whatever the last headline is regarding china, so it's not --

just be prepared for volatility if you're going to be investing. >> when i looked at the market i saw the resource names, energy acting well and some of the industrials here relative to the data in china, but then on the flip side of that, i saw the stuff that last year in 2022 that got killed when rates went up did you see amazon, did you see apple and microsoft all down more than a percent and a quarter? i also saw the banks got actually hit kind of hard here, too, so that ten-year approaching 4%, i think it closed at 3.99, it's going to be above 4% pretty soon might we see, you know, a bifurcated market in a way i agree with steve i think the covid reopening, the zero covid reverseal, i just don't see that as a lasting trade other in the u.s. in our markets, and i think that we're going to be much more a slave to rising yields rising for long are, and some of the valuations that maybe got a little done to the downside, i think they overshot to the upside here and the realization that rates are going to say, listen to all the fed speakers that we're hearing,

like a chorus of them one after another. it will start weighing on valuations when it will start rethinking the health of the economy as we get closer to the mid-year. >> i actually think for some amount of time still to go that we haven't full the full china reopen trade yet so for names like nike or starbucks or -- i don't have any position on, but i think it wouldn't be surprising for them to see some strength there you know, on the louis vuitton call they talked about macao, absolutely incredible and we could see strength there we do have a very political football of ticket works and i think that would really put a potential freeze, not that it's not frosting already, it is. you know, the u.s.-china relations, but i think that that could thrower in wrench into the system of the china trade. >> i mean, we're sitting here last night counting down the minutes to the 7:00, you know, committee hearing on china yesterday night, you know, with all this tiktok talk and

potential bans and maybe bands on outflows in terms of investment i mean, these relations are not getting any better at all, courtney, especially as more and more people from here are planning trips to taiwan which is not exactly going to help the situation either. >> that's where i do agree with you here that we'll probably continue to see volatility when it comes to china and emerging markets. longer term it still has a lot of opportunity, valuations are still cheaper than the u.s. but actually the resource traders you're talking about earlier, i actually do like that because take something, when you look at copper, china, just the one country is more than half of the global demand towards china and we're seeing them reopen that's going to continue and add on top of that that it's a main resource when it comes to electric vehicles so rather than buying a tesla which is really expense you can buy a copper company plus the china reopening so there's a way to play this without buying the chinese technology companies, for example. >> we are warnock o'neill on last night and this comes back

to the fact that this is all really inflationry i want to make a point about the nike and starbucks that's already in. zero covid reversal. look at the way the stocks ran off of the lows and they kept on going so a lot of u.s. multi-nationals already price that had in a bit, and i think it's funny that you see resource trades acting, you know, the way they are right now, but i'll just say this, and this goes back to tesla and apple. they will be the two last battles fought in this thing because when you think about their reliance on chinese consumers, their reliance on manufacturing over there, and we were talking about this on our call earlier, if all of apple's suppliers are reorienting and they are moving to other places in emerging markets, i think that makes much less importance of apple being in china if hundreds of thousands of jobs are going to go outside of china and, you know, you brought this up the nationalistic tendencies or their ability to kind of influence that, you know, apple is like fourth in market share and smartphones in china tesla is like fifth in evs in

china and there's a big part of their potential future growth, and i think that's a big part of their valuation. >> what happens with china coming back online is deflationary because now we have the manufacturing because it counterants that demand pull, and, plus, what you just said. there's a lot of corporations doing a work-around, but it's not red pore primetime yet. >> are you suggesting a supply chain improvement? >> that would be delationry, exactly. >> but inflationary when it comes to resources. >> exactly you might have a balance when everybody is looking tat in absolute terms on one side or the other, but if you compare the two, we don't know what the final equation is going to add up to. we don't know what that outcome is going to be. >> if you fix the supply chain issues and think about supply chain as an issue of national security and you say, okay, there will be more demands for manufacturing jobs here, right, as they reshore, look at where unemployment is at 53-year lows and if you look at wage growth.

>> that's inflationary, and then you put that with the one thing consumers feel a pitch on and that's gas at the pumps. one of the reason, i'll go back to this again, it's higher for longer. >> civil ver gait capital, shares are plunge after hours. seema mody has the details seema? >> reporter: melissa, that's right. let's take a look at shares of silvergate which are moving lower. the stock is down 23%. in a statement the bank says it requires additional time to perform analysis and record journal entries related to subsequent events and to complete management's evaluation of internal controls over financial reporting. this is, of course, one of the top banks in the cryptocurrency space. shares down 22% here over time melissa? >> wow, seema thanks, you. seema mody, probably about the worst headline you could possibly get from a company if they are going to delay their 10q. >> if you're a bank.

>> yes. >> if you're khegg, not to make disparaging remarks against chegg, i totally make that up but if you're a bank, that's disconcerting. what happened, between the time they announced the earnings and the filing of the 10k, yeah, that's -- that's -- they should be concerned. >> that wasn't that long ago. >> it wasn't that long ago, so there were stories about this investigation into, you know, ftx's relationship with silvergate i don't even know what the investigation was about. maybe that's part of this delay filing delaying a filing like this is not a good thing. >> they recently got investments. >> right just share purchases they didn't get -- they also though interestingly and surprisingly to me, they did not pay their preferred dividend, right, which is only $2 million. surprising to me why they wouldn't do that they didn't have to pay it

they don't have to, but just sort of sends a message. i guess it sent a secret message. >> now the message is loud and clear. shares are down 22% right now. for more on where the markets go from here let's bring in the chart master carterworth i told you earlier i had to look up a pair of tuesday definition. i'm glad i did you are using it again. >> the thing is sometimes it's just what, a malaise it's stuck and spinning its tires, a stock, commodity index. the market is basically going nowhere, and -- and in many senses that's why the pair of twos designation exists. big hens are big and in life when you have a big opportunity you go for it. this is not three of a kind. this is not a flush. it is not a straight it is almost five random cards my bias remains the downside, and i think ultimately that on an intermediate basies there's little to no upside and unknown

and perspectively meaningful downside every time we have these big countertrend moves, the bullish sentiment pops, and it seemed to be dashed repeatedly, so you see the chart here converging trend lines it's even money, fair money. again, my bias is the downside let's take a longer term iteration. that's five years. again, it's -- if you didn't know what it was, that's the thing and someone showed you this chart, a representation of price, what about that would make you run out and buy it or frankly let's sell all of it, short it it's just sort of equilibrium. now, does that mean it's going to stay here of course not. people think it's going up in a big way. this chart is important. it's the long-term chart picking up the financial crisis, the peak '01 low, and we have ascended within this perfect 45-degree channel since the '09 low until we went out through the top in late '21, early '22

and valuations at that point, because fundamentals and charts match up, were at or near records, and now we're sitting at the mid-point of the channel, again, just even steven a pair of twos, but i do think we have more risks of going to the bottom half of the channel than back to the top. >> what is the bottom half of the channel, is that just a reference, carter? >> it's how quickly you get there, right, because it's moving, so if you go there tomorrow, it's sub 3,000 if you get there towards the middle of the year, end of the year, it's more like 3,300, 3,500. >> either way, that's a lot. carter, thank you. >> carter worth. >> that chart is pretty scary if you look at the bottom side, and i think it's around 2,800 is the bottom of that -- of that channel, and as carter said, so it's 2,800 to about 3,200, 3,300 but what's impressive about this market is that we're holding 2,900-day.

tapped it again today and almost down to the penny. so as long as we can keep testing 2,900 and stay above, that's your brom term. unfortunately there's a couple of tests that are going on it. i think we'll wind up playing with the same 15,200 handles in the s&p until we have closures. >> right. >> coming up, we're all over the after-hours action and sales force shares are jumping the results. we'll bring you the details next a retail route of kohl's and lowe's is a retail picture being painted? we'll get to that when "fast money" returns

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welcome back to "fast money. shares of sales force after a surge in earnings beat and the company with a buyback program the conference is well under way. let's get to steve kovac. >> reporter: stock soaring after hours and wrapping up fiscal 2022, revenue up 22% and full-year revenue is up 18% and the strong guidance took credit for the shares skyrocketing here both for the current quarter and full year.

sales force predicting 10% year over year revenue growth, beating expectations of $8 billion in sales, but the real story around sales force today, guys, who the's who of activist investors circling the company that includes value act and starboard value and today our david faber reporting elliott management nominated a slate of directors for the board no word from sales force on that yet, but the call is just getting started and we're expecting ceo mark benock to address the numbers later. more on that later. >> the number of investor activists is really extraordinary. >> i've never seen anything like this with that many activists you have to think he was trying so hart, to take whatever it took, these metrics were real, really strong and that made sense that that would have happened and i don't think that was really

reflective in the stock, particularly looking at it after hours. i don't know maybe he puts a couple of them on the board it's hard for them -- this sort of takes some wind out of the sails of the activists. >> the bigger argument is that operating margins have been shrinking, right >> and acquisitions haven't been -- >> have been diluted and that's been the problem. >> this gives him definitive breathing room right now so you have six activists breathing down his throat. he has to karen's point has to come out with a home run or a grand slam relative to the fears or relative to where the market was positioning going into the sprint he knocked the cover off the ball, and to your point, can he continue to do this because this is not going to bide him a lot of time. right. >> he's the director. >> this could give him a week, and then all of a sudden the activists start breathing down his throat yet again. >> there's probably a vote in may. >> how do you feel >> i do feel there's trouble here because what they have been really trying do is make them

more efficient right now with tech companies it's making things efficient to become more profitable they have a company culture that people are fighting on they are trying to make things more efficient and employees are saying, that's not our company culture so the activist invest corps come in and say they want, k, x and z but how much they can do that without losing employees. >> this morning on "squawk on the street" they were talking about things they spend money on, a health retreat, a stake that they own in famous baristas. >> metallica. >> $10 million for matthew mcconaughey. >> i love that commercial and the powder blue suit he's wearing. i want it. >> what is he doing at the laundromat show? >> i actually saw him at an event, and he was wearing -- i'm not wearing. >> he was wearing that suit. >> i'm not lying now. >> it just shows you that

culture. >> yeah. >> benioff is a legend, you know this company was started in kind of in the web 1.0 world, and he hit the confluence of, you know, mobile and social and, know, and broadband and all that sort stuff and he defined this category i think he's going to get room i wouldn't be worried about these activists. i don't worry about today, i don't think he did anything to pull rabbits out of the hat. you can't do that. you can't be him and can't do that this stock will fill in that gap, people so if you think today is up 14%, that gives him so much breathing room it probably doesn't, okay. people were probably set up. you think of all the turnover they have had. think about this, it is a rollup no doubt about it. we've seen this before remember cisco, a whole host of things these activists have good ideas. would probably help him to have some of these people on the boards they will find the right price i suspect he comes back. >> mark benioff will joan jim on

"mad money" at the top of the hour so don't miss that interview. meantime, a lot more "fast money" to come here's what's coming up next. rough retail big names dropping as earnings keep filtering in, but are there bargains in the space? the traders are shopping around next. plus, environmentally unfriendly a battle on the hill as lawmakers take aim at esg. what a repeal could mean for stocks and mother earth. you're watching "fast money" live from the nasdaq market site in times square. wee ckig aerhi 'rba rhtft ts. i', i could really get used to this retirement thing. ahhh! coach k, there's a goat here. the story of my life. no coach, there is a goat here! whaaa! what's this? a thousand dollar hospital bill? but i have good health insurance! gaaaaaap! did you say 'gap'? he's talking about the expenses health insurance doesn't cover. but with aflac, you can get money to help close that gap. aflac, huh? gaaaap! aflac! gaaaaap! get help with expenses health insurance

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lowe's seeing its worst days since september after giving soft sales outlooks and kohl's reporting a surprise loss pointing to ongoing inflation pressures. the xrt dropped 1.5% courtney, i think you're watching kohl's today. >> yeah. kohl's, it was interesting because they really had a disappointing holiday sale season which i think nobody wanted to see because if there was going to be any quarter they did good on, that was it, and when you look at it historically, retail sales have gone up collectively by 28% and people are spending at kohl's has gone down 15% over that time frame so they are not catching the spending that's happening in retail right now, and i think that's, unfortunately, going to be a problem for them. >> you know. >> kohl's? >> you're watching -- well, kohl's, yes. >> i was just going to say if you don't have anything nice to say don't say anything at all. lowe's, the other one today, i didn't think it was that bad. >> knew the headwinds in the housing sector, rates up and see fewer trans actions. they talked about how old the

housing base, is how much work it needs we talked about how good pro was. they did a lot of things right they have some wage pressure they talked about lumber prices coming in was also pressured, and this is a company that trades at below market multiple. it's a fantastic company they do a very good job. they deliver a lot of value back to shareholders and bye backs and -- and i just think -- well, they sort of paint the case and i think it's a very believable one that there's still a lot of equity in people's homes they can't afford to move and they can't afford to upscale and fix their home and as long as they are employed, i think that it was overdone, so maybe this is a three-day rule one, i don't know, steve. i thought it wasn't nearly as bad as this considering that was already down on home depot. >> right. >> holistically on retail this, can we all agree right now you saw the subprime ought ore delinquency rate is at a high at 6% and credit card balances at

ten-year highs, so there's stress that has not really been revealed in the consumer it's just starting to come out a little bit we saw the consumer confidence report which was really disappointing yesterday. again, i think the retail stocks are saying something that was not confirmed in the consumer just yet. coming up, the anti-esg movement gaining steam as lawmakers lock horns on capitol hill can legislators take the woke out of investing, that is next. and lily slashing prize of its most pulopar insulin drug. what the ceo had to say about its cuts that's next. "fast money" is back after this. to help you see untapped possibilities and relentlessly work with you to make them real. ♪ ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even

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welcome back to "fast money. another check on the markets today. the dow eco-ing out a small gain at the close and the nasdaq and s&p closed half 5% the s&p on pace for its fourth negative week in a way despite today's lackluster moves wynn resorts, otis worldwide and booking holdings all higher. netflix's losses are erasing all of its gains since the last earning report meantime, the debate on woke funds taking center stage in washington, the senate just passing a so-called anti-esg rule our eamon javers is track the story in washington. eamon, what's the latest. >> reporter: hey there, melissa,

the democrats lost two votes this afternoon, and that's tall took to lose the battle today. democrats were hoping to preserve a department of labor rule that allows investment managers of retirement plans to consider so-called esg factors when making investment decisions, that is environmental, social and governance issues. now this bill would strike down that rule, but the democrats still have an ace in the hole here in president biden. the white house has signaled that he'll veto bill when it hits his desk which means the esg rule likely stays in place, so why is this important then? because the republican fight against esg investing as so-called woke investing doesn't end here, and this vote gives us a sense of just how much momentum they have so watch this space, eamon. >> just to be clear on this department of labor rule this. allowed managers to do what exactly? they are still have a fiduciary duty which means they have to act in the best interest of their investors and shareholders

so how does that actually change anything >> think of it as expanding the sense of what's in the best trust share holders errs, the investors, if there's and environmental calamity it's not good for investment returns in the future what's in your best interests is depending on what happens in the future this would allow them to consider the esg factors making investment decisions as part of their fiduciary responsibility. >> what about for funds already invested would there be a reconsideration? >> that's a really good question i don't know if this applies to new investment decisions or to already invested funds i would imagine, i'm going a bit out on a limb, if you're already in it you don't have to necessarily say why you got into it a year ago or six months ago or what have you but i'll have to check that one for you. >> eamon, thanks so much eamon javers in washington. >> yeah. this is -- i mean, in terms of allocations towards esg

strategies, trillions have been allocated to this strategy. >> trillions, and it's coming down the pike, but i think that people would find another way of investing so if this went away, which it's not because he's -- president biden is just going to veto it, and then you need two-thirds of the senate to overturn that veto, all they have is manchin and tester. >> yeah. >> only two from the democratic side, so i think regardless of what happens here, the puck is going towards that direct and they will figure out a way to make investments around that either way. >> all right for more on what the repeal of the esg investor rule could mean, we'll ask our guest. how important is this in terms of the symbolism of this >> i mean, the symbolism is really the most important theme because in a sense, i don't

think substantively it will change that much for the ryans just mentioned but it is a sense over the marketing narrative esg has come under fire over the last few years for being green paint on the existing system, but it's important to note that the green paint of esg was real directed at democrats and progressives, right. it started growing especially after trump's election, and if you look at the "s" issues in esg, most funds take an angle that even where the evidence hasn't cleared, it seems to align with progressive views and so you've seen now a rise of anti-esg funds, anti-esg approaches to the extent that esg is a price segmentation strategy intended for democrats. i'm not sure that we should be that surprised that at a minimum the republicans see value in, you know, making a lot of noise about it to maybe influence the culture of business. >> this was a bipartisan effort as we noted, and which we also got back in december vanguard

pulling out of net zero agreement which is the coalition of asset managers that were going to be publicly committed to reducing greenhouse gases, an vanguard's ceo put it very simple police. he said our research does not indicate that esg investing is better, yields better results in broad-based investing. does corporate america, do they have more permission, and i'm using that in quotes to say, you know what, we're putting esg to the side you know, it's not going to be our prerogative right now? >> i think the important thing is to remember that esg is a marketing narrative, right, because 20 years ago when i learned to invest it was a fiduciary and it was normal to look at the possibility that pollution could cause liabilities, it a you could have labor issues and corporate governance matters that will stay in effect and ceos will operate how it did saying if it materially matters to your bottom line you'll probably focus on it from a value rather than a values

perspective, but esg has -- after i learned to invest it has become this sort of marketing narrative that was pulled out, and i think that -- that's really more about pr, and two, three years ago the esgpr push was to focus on black lives matter and me, too, and so on and now gas prices are higher and there's a pushback you have blackrock suddenly writing letters to texas showing off how much they have invested in fossil fuels so i think for ceos i don't think it substantively changes esgs from a value perspective but does probably influence your pr and positioning because there's a shrinking amount of space for them to operate in without getting caught in political, you know, fights. >> do you think the marketing narrative that you described has hurt investors in any way in that maybe people were taking the narrative too far? you know, investing in that style in a way which may not always in a fiduciary manner

you're describing, yes, of course, when you take a look at investing an an oil company, for example, you look at the risk of an oil spill and the risks, et cetera, et cetera. those things are clearly shareholder risks, but has this gone too far in your view? >> i don't think so much i think the idea that's gone too far is the idea that even though they have a fiduciary responsibility, managers will be leaning into these issues even against their own issues and incentives it seems unlikely to me. >> tarik, great to see you tarik fancy. i don't know, do you get clients asking you, courtney, about how are you investing in esg and am i esg-oriented >> i get it much more from my younger clients. my baby boomier clients have no interest in this and could care less you want -- your younger clients want certain things but esg is so subjective and what it is to me is different to you and

karen, et cetera, and that makes it tough this sounds like a nuance. it's what we can or should recommend. these funds sound like they can be an account if the client wants, it they can still overlied with a manager and it comes down to what is a manager recommending versus ultimately what does the client want to invest in so there's always a push and pull. what's best versus a long-term investment standpoint, two different options, but it's going to be a political football for a while. >> where do you think this goes from here? >> it is subjective. i agree with what you said before when you look at the back testing on this, they don't outperform any other fund but maybe it's too new of, you know, companies, but when we look at whenever politics gets in the way, we have a solyndra. we throw money at things that aren't red for primetime yet, and a lot of the capital markets and a lot of the markets will direct where money should go and whether or not they are ready

and they are mature enough to be there. i don't think it's mature enough to be basing your investments burly on esg i think that's a little ignorant. >> i mean, if the s.e.c. stepped in and said this is what esg is. these are the criteria, it would be a whole other story because then you know what you're getting? >> right. >> as opposed to -- >> that makes me more nervous. >> right. >> that's the other side of it do you really want that to be regulated in some way? i don't know. >> that is such a thorn to try to go in and define it how do you know what esg is? you know when you see it >> right. >> that brings you back to is it really superor >> if you can't define it. it's all subjective. >> it just does seem like this is the marketing thing of the moment, not the underlying issues of, you know, people wanting to invest in things that people feel good about or they feel humanity, help the world but esg itself, it's so ill-defined right now. >> yeah. coming up, drug drop

lilly slashing prices for some of its best-selling drugs. what it could mean for your stock and wallet and mark for the women and wealth event on cnbc on april 11 we'll explain how women are save for the future "fast money" is back in two. ♪♪ for skin as alive as you are... don't settle for silver. harness the power of 7 moisturizers & 3 vitamins to smooth, heal, and moisturize your dry skin. gold bond. champion your skin. the first time your sales reached 100k

was also the first time you hit this note... ( screams in joy) save 20% with the lowest transaction fees and keep more of what you make. with a partner that always puts you first. godaddy. tools and support for every small business first. (fisher investments) it's easy to think that all money managers are pretty much the same, with a partner that always puts you first. but at fisher investments we're clearly different. (other money manager) different how? you sell high commission investment products, right? (fisher investments) nope. fisher avoids them. (other money manager) well, you must earn commissions on trades. (fisher investments) never at fisher. (other money manager) ok, then you probably sneak in some hidden and layered fees. (fisher investments) no. we structure our fees so we do better when our clients do better. that might be why most of our clients come from other money managers. at fisher investments, we're clearly different. lily! welcome to our third bark-ery. oh, i can tell business is going through the “woof”. but seriously we need a reliable way to help keep everyone connected from wherever we go. well at at&t we'll help you find the right wireless plan for you. so, you can stay connected to all your drivers

and stores on america's most reliable 5g network. that sounds just paw-fect. terrier-iffic i labra-dore you round of a-paws at&t 5g is fast, reliable and secure for your business. welcome back to "fast money. shares of eli lilly ending the day roughly a percent higher, the company slashing prices of its most prescribedics lynn treatments by 70%. also expanding a program to

limit patients' out-of-pocket expenses to $35 a month. our meg tirrell just show with the ceo and joins us with more meg? >> reporter: hey, mel, this comes after a lot of pressure around insulin as sort of the poster child of high drug prices the fact that lilly is actually taking the step to lower the list price, it's cutting the list price by 70% and the non-branded version of insulin down to $80. that's the final frontier of what they could do to lower the price of insulin interestingly the stock rowes as a result today we asked dave ricks what kind of feedback he's been hearing from investors on this. here's what he told us >> this is a headwind. financially we put that in our guidance this year, but mostly they are focused on the new products that are driving the future growth of the company insulin is an important product for our company. we've been making it for 100 years, but it's not really a growth driver, and so i think that's the investor perspective for today, but we do serve 2.5

million patients and they care about the news today >> reporter: interestingly though i did have conversations with analysts today about how the fact that the president prized this move could be contributing to lilly's share price rising and also the fact it could potentially sake share from sanofi and novartis both companies detailed the things that they have been doing in terms of trying to lower costs, but they did not indicate they plan to follow suit in lowering the list price. we'll see if that actually transpires you know, we also talked with dave ricks about what the growth factors are, the diabetes drug munjaro has been off to an unbelievable initial uptake. they are hoping for this to be a $20 billion drug by 2030 and alzheimer's has data coming up

in the second quarter. he said they are expecting the phase three results in the coming weeks and months. he says we've never been more confident in this program. that's going to be a huge event for the stock so a really important one to watch coming up pretty soon. mel? >> i thought, meg, that it was interesting they decided to cut prices on a drug which is made less necessary if the success of munjaro really takes off they have a drug that can prevent diabetes and help manage it and they will cut the price of insulin actually. >> that's a real good point. there's type i diabetes which wouldn't be helped by treating obesity but you do make a good point in terms of type two where people do sometimes need to use insulin as well. >> meg, thank you. meg tirrell. a fuel update on the pipeline, karen. you must be excited. >> i sold lilly and novartis, as

good as these drugs, are as gigantic as i think they are, it was sort of like the "star wars" box office, buy the rumor, sell the news and once it started selling, it's fantastic life-changing products, but i'm out right now. >> yeah. >> that $20 billion estimate is going to take years, and when you think about it off a 30 billion barracks i mean, that's serious growth over the next several years and this stock has sold off 375, trade 2:0010 today. i think -- guy said it last night, 25 times, this is the most expensive large pharma stock that you have and tim was talking about pfizer on the flip side t.trades at well below many of its peers you would probably go with lilly here. >> and lilly actually has underperformed the market and its pence, and when you talk about the new drug, the diabetes drug, they project that to be 27% of revenue where the two insulin drugs are 18% of revenue

so they are going in the right direction, but the market really hasn't rewarded them in the past they have definitely underperformed i wonder if that underperformance is really about. maybe there's inefficiencies under the hood and i don't like when someone cuts a price when they get shamed into cutting a price. it felt like it was definitely a political thing. their image got cut so they cut the price on it. it wasn't the reverse. >> by the way, still watching shares of tes lark the investor day is going on in austin right now as we speak. the stock is down about 2.5%, not too many heedlines out so far. so far tesla aims to cut next generation costs by 8% 'lwel keep you on any new developments that come much more "fast money" after this

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welcome back to "fast money. shares of c3 ai dropping 12% today. kevin kelly joins us with the action kevin? >> hi, melissa c-3-.ai had the same amount of calls as puts today despite the act in the stock price 1.87 times the amount of calls, and that's interesting going into tomorrow's move where you're going to see an implied move off of earnings of about 14.1 when the average is 6.8%, and so we saw the largest trade today was 395 contracts that expires march 10th and that's of the $25 a call and they paid about 70 cents earlier this morning when the stock was at

around $21.70. >> all right kevin, thanks. for more "options action" tune into the full show at friday at 5:30 eastern time. up next, the final trades. i think i'm ready for this. heck ya! with e*trade you're ready for anything. marriage. kids. college. kids moving back in after college. ♪ finally we can eat. ♪ you know you make me wanna...♪ and then we looked around and said, wait a minute, this isn't even our stroller! (laughing)

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continued f-v demand, a good play. >> karen >> i didn't think lowe's was that bad down a lot wait two more days and buy some. >> dan >> lilly is getting close and happy birthday to my dad. >> happy birthday. >> nice, nathan. thanks for watching "fast money. see you back here my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends, i'm just trying to make you a little money my job is not just to entertain but educate and teach you about stocks so-call me at 800-743-cnbc or tweet m me @jimcramer.