importance of pce, though david kelly did say we know what to expect when inflation is still front and center. >> yeah, yeah, and there is an expectation you are going to see a higher pce number tomorrow. nike, higher right now, up 4% on the heels of those earnings. that's going to do it for us at "overtime." >> "fast money" starts now. live from the nasdaq market site in the heart of new york city's times square, this is "fast money." here's what's on tap tonight. mortgage rates at 20-plus year highs and home prices keep climbing. all getting more expensive. the ripple effect on the consumer straight ahead. plus, workday blews. shares of the hr software provider with their worst day since 2020. and later, the wall street menialist is here, fresh off his locker room mind games across the nfl. he will join us here on the desk to try the bend the brains of our traders. does he have a few stock picks

up his sleeve? i'm melissa lee, coming to you live from studio b at the nasdaq. on the desk tonight -- tim seymour, karen finerman, dan nathan, and guy adami. and we start off with a stat we haven't seen since the turn of the century. the average rate of a 30-year fixed mortgage climbing to its highest level in 23 years. and monthly payments are rising at a staggering rate. cnbc's diana olick has the details. diana? >> reporter: melissa, mortgage rates have been on a tear, and there appears to be no relief in sight. the average rate at 7.65% today, according to mortgage news daily, up from 7.08% just a month ago. and up from 2.8% two years ago, which was the record low. to give you an idea of what that means to a home buyer today, well, if you were going to buy a $400,000 home with 20% down on your mortgage payment, is now $920 per month more than it would have been just two years ago. add to that higher home prices

and you can see how affordability has just been crushed. now, we saw it in the pending home sales numbers out this morning. down over 7% from july, and down nearly 19% from a year ago. higher mortgage rates are not only hurting home buyers, they are keeping potential sellers in place, because the vast majority of current borrowers have rates well below 4%, so, why would they want to trade up to nearly twice that? the home builders are buying down interest rates for new buyers. the builders up today, though, likely because of that disappointing pending home sales report. builders are benefits from the lack of existing homes for sale. melissa? >> diana, karen has a question for you. >> yeah, so, we know that some structure issues, people have to move at some point, regardless of how good their mortgage is, but do you think we're going to see a pretty significant decrease in home prices because of the lack of affordability? >> no, actually, we're not. and that's what's so strange, because historically, when mortgage rates go up and the

cost of buying goes up, the prices go down, because people can't afford it, but we have this terrible supply/demand imbalance. we have nothing for sale on the existing side. and that's why whoever is out there buying is finding competition for that two or three houses out there on the market. that competition leads to bidding wars, leads to higher prices. it's more about getting more inventory onto the market and you say people are going to have to sell at some point, but a lot of those baby boomers that we expected to get out on the market, they are just aging in place. >> tdiana, thank you. $920 more a month versus two years ago. what else is higher versus two years ago? >> everything. >> everything. so, how is the consumer going to fare? >> that's the question. how are they going to fare? i don't think they can. and we've been concerned, and we say all the time, never underestimate their want, but should they be spending in this environment? where does it come back in the good news for today, in terms of broader market, quickly, the reversal in bond yields were interesting. and we talked about it last

night with andy. they thought 10, 15 handles up. you got eight handles up in the ten-year, closed lower on the day. good sign. that's why the market reversed. in terms of the cob schumer, i don't think it goes well. the xrt which is not a great etf in the way its structured that's the one that everything watches, i have to tell you, closed around 60. 57 or so is your line in the sand. you get through that, and you're going to have a world of hurt. >> back on this home thing, if you are a blackstone and you own hundreds of thousands of homes, wouldn't this be an interesting time to start selling and put that money elsewhere? it looked not so great for them not that long ago. >> right. >> i'm surprised that we haven't seen more supply come on the market. >> the last -- >> sorry. >> go ahead. >> the last time we had this type of a notice bond yield spike is when we had the conversation about some of the biggest reits that have been family office, consumer, advisory, wealth managers, it's been a haven for collecting

yield. and it's been a great place to be, and for blackstone, who i continue to think are at least some of the smartest guys in the room. i mean, it's been a huge, huge product, but i get back to the market that we have, we've had such a big move in rates, i still actually think equities have behaved okay given that. and i think if you look at where sentiment has gotten over the last couple weeks, whether you're measureing aaii, measurig the name index, which is active money managers, people are beared up. and they're beared up going into the fourth quarter, which, you know, kind of makes me feel decent about things. i don't think we're going to go a lot higher. the government shutdown has something to do with what the bond market is doing here, because people are doing the math on all the fiscal dynamics that aren't really going to get better, but moody's has made it clear they're following some of these shenanigans. >> you think about the price action, the reversal we had over the last couple days, and how much we are off of the lows, and you look at just the structure of the chart, the s&p 500,

really does feel like it ripped into month end, quarter end. it's been a really crappy month. the s&p was down 6%. the nasdaq down 7%. you look at the sectors, we were talking about home builders, they were down 10, staples were down 10%. so, there was, like, a correction in the market. and the broad market felt kind of orderly. you want to bring it back to home builders, this is the one that we think is so rate sensitive. we were talking able williams sonoma, breaking out to new 52-week highs. on the flip side, restoration hardware that looks like it's going to die. there's a lot of cross currents. and home depot, below its 200-day moving average. it's really been range bound this entire year. i think it's not such an easy trade, to your point, about blackstone, i mean, i think if they put a lot of inventory on the market, i think it does what you ask diane nashgs it puts pressure on prices, because i just -- >> i do, too. >> not a lot of folks --

>> diana is great at what she does, she's being doefr it fordoing it forever. i don't want to argue with her. if affordability really is -- housing prices, you could buy two times as much house if rates were one half of where they are today. and that's, to me, just the math around what's going to happen with housing prices. i realize that supply/demand dynamics are very macro, important, determinant of pricing, but i also think that there are places where we've had a major runup in prices and the people buying those -- those are second homes, those were places that we regional. i think there's going to be pain in some of those markets. and we still have this exodus out of urban centers. covid accelerated trends that were in the works before covid. i think you're seeing this in urban centers, too. >> prices have to come down at some point. >> you would think. listen -- >> i get that its structurally rigged right now. >> things happen in life. >> i think in order for that to happen, the unemployment rate has to go from the current levels now to probably closer to

5%. i think if unemployment starts to trend higher -- >> can that happen with corporate profits where they are now? >> i don't know the answer to that. >> there's a discrepancy here. something needs to give. >> the fed, what they want to happen, behind closed doors, they're like, we need the unemployment rate between 4.5%, 5%, and do whatever is in our power to get it there. i know that sounds counterintuitive. people are like, why do they want it to go higher? they want that. and that could break the housing market. >> and there's been so much dialogue about the u.s. deficit and spending and then it comes back to a government shutdown and what not -- i get back to the u.s. debt market is the most liquid, but it's the highest quality in the world and whose debt do you want to buy? seriously. you going to go -- germany is the most conservative economy in europe and this is an economy that's weakening faster than us. why do you think the dollar is rising? central bank differentials are what they are, because you just look around the world. i realize there have been politics around central bank

buying of treasuries over the years and you look at what happened to russia's reserves and a lot of central banks are saying, even if i'm not going to be russia, that can't happen to me. we have to do something else. the u.s. treasury market is by far the, you know, the standard in the world, and just not going that fast. and i think people are overreacting here. >> all right, though we had that huge amount of issuance still to come on the market, with -- >> so does everybody. you think europe doesn't? and think about owthe $17 trilln in negative government bond debt that was around a year and a half ago. a lot of people are under water, a lot of markets that are going to banepainful. >> let's bring in schkylar olso from zillow. >> thanks for having me. >> what finally gives here? supply/demand dynamics -- at some point, something breaks, right? what is that? >> yeah, i mean, i think as mortgage rates have continued to

go up, you know, as opposed to trending down as maybe six months ago, we were hoping for, we've continued to see new listings pull back, so, you're looking around, you know, a quarter percent down from what was normal in terms of the homes that are dropping into the market. so, diana's totally right there in terms of it's a supply and demand imbalance. i agree, as well, when we think, what has to give, the owner has to have an incentive to sell. if i have that low rate, it's not a financial opportunity from the mortgage market that's going to stop me from moving. so, it's either the time happening of getting divorced and having kids or it's job loss. and i think that's one of the reasons why right now we're kind of -- it's kind of confuse bly optimistic, which makes mortgage rates go up, because we don't need those safe assets, you know, and they're related, the ten-year. but that's going to keep the activity low in housing markets. in the existing housing markets. >> is there a magic number on

mortgage rates where you see, you know, deals clearing? you know, an increase in listings, you know, an increase in deals in general? >> yeah, this is the magic question. at zillow, we're tackling this in a lot of different ways. every quarter, we are aski ing existing owners, are you willing to, or, sell in the next three years, right now, that is highly sensitive to the rate the owner holding. so, the higher the rate is, if they have a rate above 5%, for example, they are twice as likely to want to sell within the next three years. so, not everyone is as deeply locked in. when we think about, what is that magic rate, i think about affordability, so, what share would that typical mortgage payment take out of a typical income nationally speaking? now that we're up, you know, at 7.3, that share is close to 40%, if you only have 10% down and it's close to 37% if you have 20% down.

that's close to not being able to qualify, once you drip down to, say, 6%, it gets a lot more relief. >> it's karen, thanks for being on. we talk about the 30-year a lot, but what is the number that most mortgage holders or borrowers, what is the actual amount of -- how long of a, you know -- and what rate, and when did they get that? and how quickly is that loan aging? >> oh, yeah. i mean, so, pre-pandemic, and leading up to this, a vast majority of people did get that 30-year fixed rate loan. we had a very small share of buyers during the pandemic, certainly because of low rates, but even prepandemic, that were getting adjustable rate mortgages, so, a vast majority of the folks that, you know, were hoping to lubricate and as their life progresses, they'll release it, they do have that 30-year fixed rate loan. the typical amount of time that someone tends to stay is

actually much less than that, of course depends on your age and your, you know, time of life, but then you're just thinking about a bit more of a decade. so, in the u.s., we do overinsure that housing payment with a 30-year fixed, but to that end, those that are -- you can see why they did that, the benefit of someone that locked in a year ago. >> so, you work at zillow, you don't sound very optimistic, skooilder. >> i'm very sensitive to inventory. yeah, i'm very, very sensitive to inventory. i, you know, we're talking in generations, when we talk about housing. we talk about fundamental housing demand and the strength of that. we're talking about the size of younger adult americans, you know, the millennials, that honestly have the similar aspirations to previous generations, they are facing very different realities, both in the number of homes that are out there to buy, but also in the dollar and cents of it all. >> right. >> so, yeah, i'm pretty sensitive to the lack of supply.

>> skyler, thank you for joining us. skyler olsen, zillow. guy? >> it's -- well, zillow, the stock, did around 30, 180, it's bouncing here. maybe the bounce suggests we're in for better times. the housing market, it seemed counterintuitive to be bullish in the home builders for the period of time we were. it was all about supply/demand imbalances, the same way we talk about energy. we thought at a certain point in terms of yields it would break the back of those stocks. seemingly happened when we got through this 4.5% level in the ten-year. >> she mentioned what would cause people to sell, it's a divorce or lose your job, and you think about, we're going to get this september jobs report next week, and we know we're still, you know, soundly below 4%. you know, we've been talking about corporate profits, talking about their ability to pass through, like, inflationary inputs. what comes next is probably another round of layoff. if the economic, you know, environment stays pretty dicey,

the visibility is really poor, the geopolitical situation seems kind of dicey. and we could have that. and if we start seeing unemployment, you know, get towards 4%, then you're going to see -- you're going to see inve inventory. you are going to see pressure on that. and i think that probably coincides when the stock market is probably lower than where it is right now. and that negative wealth effect won't be particularly great, so, again, we look at the stock market, the s&p up 11%, equal weight is basically up a little bit or so. it really feels like we're in the hands of seven stocks, you know what they are. meantime, uaw gearing up to announce more strike locations as negotiations with the big three automakers continue. phil lebeau has the latest on this. phil? >> melissa, couple of pieces of news today moved the shares of stellantis, ford, and gm higher in the middle of the day. here's one of those pieces of news. look at shares of stellantis. stellantis today, according to a source familiar with the uaw, the uaw submitted a counterproposal to stellantis. this is one of those things

people are saying, how often are they submitting proposals, counterproposals? there's always discussions, but this was a formal counterproposal from the uaw to stellantis. no comment from stellantis on what was in that proposal. and look at shares of ford and gm. and the reason we're putting this up is because in the middle of the day, there was a report from bloomberg citing sources saying that the uaw was aiming for at least a 30% increase in wages and cost of living adjustments over the life of this contract. that's significant, because initially the uaw said we want 40%. now, there was no comment from the uaw about this report. we reached out to them repeatedly, the uaw said it declined to comment on this report, but those are two things that moved shares of gm, ford, and stellantis during the day today. in terms of what to expect tomorrow, it's once again shawn fain on facebook live. that will happen at 10:00 a.m. he will give an update. if there's no serious progress,

we've heard this line before, there could be more strikes. and if there are more strikes, then those walkouts would start at 12:00 p.m. eastern tomorrow. and remember, it may be one auto maker, maybe all three, maybe two, maybe none. we're waiting to find out tomorrow. real quick, want to update you on the total strike, about 12% of the uaw members are currently on strike. the majority of them are at the three final assembly plants where the uaw walked out two weeks ago, and then last friday is when about 5,600 walked out from gm and stellantis parts and distribution centers. guys? >> phil, when you think about that counterproposal being 30% plus cost of living adjustments, the original 40% target, was that c.o.l.a. on top of it? if it included it, it seems like the numbers may not be as far apart as we think. >> well, one, we do not know that this was a counterproposal. what bloomberg report said was that they aim for 30% of both

wages and cost of living adjustments. but you are correct that if you were to factor that in, because what the uaw said, we want 40%. that's all they said. we believe we should get 40% over the next 4 1/2 years. they doesn't say we believe we should get 40% plus cost of living adjustmentsthat brings up to 40%. you are right, if this is, in fact, true, and again, the uaw declined to comment on this report, that would suggest that potentially, and i'm throwing a hypothetical out there, you could get an automaker to say, okay, we're going to offer you 22% over 4 1/2 years in terms of gross wages increasing and then with cost of living adjustments, totaling 8% over the next 4 1/2 years, that gets you up to 30%. that's just one possibility, and again, that's a hypothetical that would suggest they might be a little bit closer. >> right. phil, thanks. phil lebeau. >> you bet. >> tim seal ymseymour, nice bre

>> that's why i was so surprised. yeah, and to be clear, i think we priced in a lot of this dynamic, in fact, these stocks are probably net up small since the strike began. gm, on a trailing 12-month basis is 4 1/2 times earnings. and i choose a trailing multiple because i think this is really what's at question. gm's been such a well-run company relative to their peers and also i think relative to themselves over the years. i believe they can do that again. i think this stock is very cheap. solving this labor dispute, they will solve it, stock's going to go higher. >> i was kind of more disturbs by carmax. >> yeah. >> big move. used car prices are really getting hit. it's not great for new car prices. so -- that was a little bit of -- >> seems kind of carmax specific, only in that the same-store sales, the decline was much steeper than the industry overall. >> we'll see. you know, we'll see auto nation, we'll see carvana, which may be

its own animal. >> isn't that a precursor to what happened in the housing market? when you think about it, higher rates, and we know -- >> higher auto loans. >> right. the sticker shock, right? people are interested, then they get the monthly payment and they're like, forget it. all right, we have a news alert here on game stop. new ceo ryan cohen sending an email to employees. melissa has the details here. >> hi, melissa. so, ryan cohen, who was named ceo this morning, did not mince words in a memo that was sent to corporate employees and store leaders. basically said, the company is fighting for its survival. that was actually the word he used in the subject line itself. survival. and in the email, he noted that the company is going to have -- have to have, quote, extreme frugality, unquote, and he said that they're going to have to avoid a lot of common pitfalls of other retailers. so, he spoke about how they have to avoid buying bad inventory, using leverage and running expenses too high, and really

laying out the task at hand, as we steps into this role. >> does seem really obvious, we're sort of chuckling here. i assume that game stop was already trying to do all these three things, so, i mean, i guess the implication here is that this period of austerity is going to be even more extreme than what had existed in the past? >> yes, i mean, it's worth noting that when he was named ceo this morning, it -- he is not going to be taking a salary, so, he is kind of signaling from the top that they are going to be pinching pennies and he will not be part of that -- that equation, but it's also worth noting that he's been involved for awhile. he's been executive chairman of the board, so, even though he's stepping into a leadership role, it's a different leadership role, but he's still been very involved, and so far, the company has not shown signs of a turnaround. earlier this month, it reported a slightly narrower loss, but it still faces a question about whether it can persist at a time when video gamers are streaming

online, and a lot of the things they used to turn to at stores for, they just don't need anymore. >> yeah, and who knows if the retail investors are there to back him at this point after the bed, bath and beyond fiasco, shall we say. melissa, thank you. coming up, nike on the move. shares swooshing higher after results crossed the wires. the numbers next. plus, workday worries. shares sliding for the stock's worst day since 2020. the guidance update. don't go anywhere. "fast money" is back in two.

well come back to "fast money." we have an earnings alert on nike. a strong earnings beat. courtney reagan has the latest. >> hi, melissa. just jumping off the call. earnings did beat. revenues a tad light. gross margins down slightly, but better than expected. nike said that markdowns were elevated, but no mention of that this time. just successful, quote, stra tijic pricing action. direct to consumer business but up 6%, digital up 2%. wholesale business was flat. geographically, largest region in the ice was the weakest.

sales down 2%. sales in china grew 5%, but that was less than expected. europe, a bright spot. sales there up 8%. foot ware was weaker than apparel in the u.s. and china, but much stronger than apparel in europe. on the call, the company discussing feeling comfortable with inventory levels, including the inventory levels at wholesale partners. also saying traffic at nike stores grew double digits over last year, and executives were able to capture higher full price sales as a result. we're still waiting for the guidance, as far as i can tell. in the last couple minutes, as i've been talking to you, we don't quite have it yet. >> all right, court, thank you. courtney reagan. that's a caveat. a lot of things can change at this point. tim, you are short, you've been short, much higher from here. >> yeah, and these were solid numbers, as courtney pointed out, but the gross margins holding up, it was down. it was better than expected. these earnings -- look, the top line was weaker and they haven't done this in two years, so, this is -- i think, telling you the story. china, i thought, was

significantly weaker, and i still care most about north america and i care more about the profile of their core dtc business. if you listen to where the analysts, i believe, are, and jeffrey's downgraded from 140 to 100. the dynamic is, what are you paying for this company when their three-year was 27 times multiple? if you want to get to that number today at 27 multiple going forward, it's probably $125, $130 stock. i don't think it's expensive here. let's be really clear. at this point, by the way, i am, you know, more leaning to cover than i would be to press this short. i -- the level on the stock, it's down 30% from where it peaked earlier in the year and the level on the stock, if you want to be a hero, i think it's probably 83 bucks. >> guidance should be really interesting. >> yes. >> because they have seen a couple weaks, we haven't heard about retailer guidance, so, you have to wonder if things are changing in terms of sentiment and just in terms of patterns they're seeing to date. >> yeah, the -- so, courtney

touched on the inventory. the days outstanding, inventory, was up, so are costs coming down or do they have an inventory of lower-priced goods in inventory? i don't really know. that's -- i do think the numbers are good, that's helping. feels sort of having bottomed. >> all right. there's a lot more "fast money" to come. here's what's coming up next. cloudy with a chance of losses. shares of workday punching out, logging the worst day since 2020. the bleak revenue forecast that had investors running for the exit. plus, prepare to have your mind blown. the wall street menialist is here and ready to uncover the financial secrets from the "fast money" team. so, don't take your eyes off the screen. the magic is ahead. you're watching "fast money," live from the nasdaq market site in times square. we're back right after this. (sfx: stone wheel crafting)

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welcome back to "fast money." shares of workday sinking 9%, after the company lowered its outlook for subscription revenue. sales growth would be 17% to 19% over the next three years, versus a previous estimate of more than 20%. workday was the worst performer in the nasdaq. dan, you flagged this, because the guidance is concerning. >> well, listen, i think it was kind of under the radar. we are all focused on q-3 earnings, and so, it's interesting on a night we're talking about nike and a stock that sold off a lot over the last six months and here is a stock that's performed very well. and that guidance, it doesn't sound like a lot, but it is. around the edges, you think about enterprise spend, all the

things that, a lot of their peers are trying to talk about, trying to get in on this a.i. game, and you think about it from a technical standpoint, we highlighted a lot of stocks that have broken down. and this, if this turns into a trend, as we get into q-3 earnings, where you get a bunch of these leaders in these sorts of spaces, i know, karen, you've been short the igv, probably for some of these sorts of concerns, i just think that, you know, the pieces are kind of coming together for a sort of mosaic that 2024 is going to be a slower year than 2022 and 2023. >> c >> it has a new cfo and ceo, maybe they could be -- >> kitchen sink. >> lower the bar here because we have. it's a great time to do that. >> makes sense to do that. stock's had a huge run. 130 to 250. big volume day today. valuation is not all that compelling here, so, i think dan's right to point it out. but again, if you look at the chart over the last six months, this stock has been unstoppable. coming up, billionaire

investor bill ackman just off the stage at cnbc's delivering alpha summit. what he had to say about where stocks are heading next. and get ready to have your mind blown. the wall street mentalist oz pearlman is here and ready to read your thoughts. >> oh. >> but can he unlock the financial secrets from our traders? find out when "fast money" returns. the cloud makes it possible to expand your infrastructure. but to make it powerful enough to connect your data wherever it is, you need cdw and netapp.

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welcome back to "fast money." stocks gaining back some of their ground lost yesterday and the day before, as treasury yields retreated from their highs. the dow jumping 115 points. the s&p up more than a half of a percent. all three indices still looking to close out september deep in the red. shares of why coe's rocketing higher. the retailer announcing it is being taken private by sycamore partners for $1 billion. that's a 65% premium to where shares closed yesterday. and shares of apple ended higher, but not before dropping below 170, hitting its lowest level since may 4th. meantime, last hour, noted investor bill ackman spoke from the cnbc's delivering alpha conference. alphabet and a.i. were front and center in their conversation. take a listen.

>> it had a lot to do with a.i., because a.i. was the reason why the stock was cheap, right? chatgpt was launched, incredible game-changing kind of product and google really fumbled their offering. people said, oh, my god, google is way behind a.i. and the stock sold off to 15 times earnings from one of the greatest businesses in the world. bought more in the 120s, our second-largest investor. >> alphabet? >> yeah. >> ackman saying he sees the ten-year treasury yield hitting 5% in the short-term. karen? second biggest position. >> yes. i like that. i mean, i think we all sort of thought, okay, yeah, they fumbled it, but they have a.i. it's not like they didn't, so -- >> it was thought to be that search just more broadly -- >> was under -- >> under siege. >> right. >> i'm not agreeing, i'm just -- that was the thesis, and it was wrong. and also, to think that google hasn't been investing in a.i., maybe was arguably front of the

line on a.i. and to have the business they have was silly. >> feels like it may not necessarily be wrong, but the time frame over which that scenario would have to play out is much longer than what people were thinking in the stock in terms of the reaction. my microsoft, too. then we got guidance, it's going to be a back after 2024, it's going to be a slower ramp in terms of how it adds to revenue. a.i. is a great story, but i feel like investors got the time frame wrong initially. >> i understand the excitement. it started with nvidia, made its way to a number of different names. now, you have that diminishing margin of returns, in terms of when they say it, what does the stock do. dan's been talking about this for awhile, and very quietly, nvidia, which was 516 on its way to 1,000, has come off some $100 since the earnings release and probably think there's more to come. kudos to ackman, who early august, i think the second or

third of august came out with his bet against the bond market. looked like he rang the bell. rates went lower, but they've been off to the races ever since. >> dan? >> yeah, i just think that we're all in agreement with the google. when you think about, looking out to the out year, earnings 20% next year, trades at, you know, a pe of growth to one, you know, at 20 times. it's just cheap. it's got a better gross margin than microsoft. they have a similar revenue base. and they're growing faster, and so, the discount that ackman is talking about that was placed in the market, before any commercialization with these sorts of products, any market share they might gain in search versus google, it seemed p premature. so, again, i do think that if a lot of the froth is coming out of these names, google has the potential to go lower. it hat s better valuation suppo and discounting the abilities within a.i. they declared themselves as an a.i.-first company seven years ago. they've been spending billions in the space. so, i have a feeling that's

probably a better bet, you know, one versus the other, playing would you rather right here. >> oh, self-would you rather. >> did he just do that? coming up, get ready to be wowed. the wall street mentalist is joining us on set. what trick, does he have up his sleeve? hmm. stick around to find out. plus, the ceo of curaleaf saying this was not the environment to be raising capital. so, why did they do it anyway? we'll dig into the about-face, next. "fast money" is back in two. because there's never been a reported ransomware attack on a chromebook. now they're focused on learning knowing that their data is secure. ( ♪♪ )

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let's get another check on nike. the stock taking a leg higher after the company just issued guidance. nike expecting q-2 revenue growth up slightly, as it compares to some of the most challenging comps here. up 6%. you see that little bump up. tim, what do you make of this guidance? >> well, again, if you listen to management, their fiscal '24 guide that they gave recently was up, you know, 5.4, they downgraded to mid-single digits. you've had a lot of downgrades. they haven't been massive, but this is good news. take a listen to curaleaf executive chairman and founder boris jordan on our show earlier this week. >> we're all reasonably well

capitalized, we have strong cash flows and i don't think we need to come at this level of valuation. people are going to wait to see a re-evaluation of assets. these assets have corrected 90% from their highs, and i don't think people are in the condition to have to raise capital. >> this morning the company announced plans to issue new voting shares. in a statement to cnbc, boris johnson said they are making the offering to satisfy condition required for a potential listing for the subordinate voting shares on the toronto stock exchange. it plans to use the portion for general corporate purposes. tim, you asked the question to boris the other day and then i sort of followed up, so, you're not raising capital. did you walk away with the understanding that the company was not going to go to market? >> i -- i walked away with an understanding of a chairman that said, we're well capitalized and on a relative basis. we don't need to go raise equity. and that's not what this is. i think it's worth noting that

the -- one of the -- i think the first cannabis company listed on the toronto exchange also was required by the tsx to do a raise. and again, do a raise in canadian dollars, again, for a canadian exchange. so, i think this is, first of all, i spoke to curaleaf, they verified that this is, in fact, what is required, and i -- i will say, i think boris jordan didn't say we would never be raising equity. he said, we are a well capitalized company in this environment and valuations don't really make sense, but when the toronto stock exchange says, you need to, as a function of your listing, that's what you do. by the way, it's really good news they listed in toronto. and i'm involved in the cannabis sector. i own curaleaf, the second-largest position in my etf, so, it's not that i want to sound like a homer here. i want to say that listing on the toronto stock exchange means that investors can own this thing. in fact, i don't need to own it on swap, as a u.s. etf, that actually, i can buy it outright. so, that's the good news here.

>> yeah, pro tip, just go on tv the day after you do it. >> good point. >> yeah, did he not know that that was -- >> that's my question. >> corporate communication, different idea, i'll let them figure that out. coming up, the wall street mentalist is here. he's got some thoughts about what's going on in guyed a kaymy's mind. >> i don't want to be there. get me out of there. >> scary thoughts and his mind-blowing tricks right after this commercial break. with comcast business... it is. is it possible to help keep our online platform safe from cyberthreats? absolutely. can we provide health care virtually anywhere? we can help with that. is it possible to use predictive monitoring to address operations issues? we can help with that, too. with the advanced connectivity and intelligence of global secure networking from comcast business. it's not just possible. it's happening.

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[ cheers ] yeah! woho! running up and down that field looks tough. it's a pitch. get way more into what you're into when you stream on the xfinity 10g network. greg, you thought of anybody in the world, you would love to have dinner with, is that right? open your eyes. look at him. look into his eyes. look into his soul. who is he having dinner with? >> jennifer lopez? >> that was oz pearlman taking his skills to the nfl, working his magic so far with the cowboys, ravens, bucs, jets, and with the seattle seahawks, as well. he also uses his mind-bending skills on himself as an ultra marathoner. last year, he ran from the tip of long island to right here in times square. that, by the way, over --

>> looking jacked, dude. >> he did it in less than 24 hours. oz joins us now to take us inside his mind as you blow our minds, as well. >> thank you, thanks for having me. listen, that l.a. traffic, easier to run than it is to, you know, it's -- >> in your car, yeah. >> how did you tie up with the nfl? >> you know what, adam schefter, espn has been good to me and i think people like watching their favorite athletes, especially football stars, you don't really see them. you see them on the gridiron, you don't get to see them being silly, blown away. kind of humanizing them. they are a boisterous crowd. at the ravens, i think i was handed around like a ba ton at the end. they picked me up, 140 pounds dripping wet. i was reading minds and i was like, please, stay away. >> we act like children -- >> every day. >> right. so, what have you brought for us -- >> let's do it. i love the name of the show, "fast money." >> yeah. >> you know what, because people say this, and i get this often, not your viewers, who are

informed, people say, you are investing in the stock market, that's all chance, a roll of the dice, right? i don't think it is. i think if you know what -- watch. 34. roll the dice, what does this -- this is luck. every time this lands, 56. guy, this is luck. i don't believe in this. i believe in your viewers, they make their own luck. grab the dice, tim. instead of rolling them -- i'm going to turn my back, you set it, you set it to your number. two digits, set it and i want you to put your hands on top when you're done. cover them up. >> i'm good, i'm ready to roll here. >> watch. watch. 10, 20, 30, 40, 50, 60. one, two, three, four, five, six. you look for the reaction. when the tension dips. look how he's holding -- >> hold on a second. i'm a better poker player than that. i didn't give away anything. >> this is not your lucky number is, is it? >> it is. i like this number. my favorite running back of all-time.

>> oh you picked this at random, but it has a meaning. >> has to. same two digits. >> yes. >> 44, isn't it? >> getting tight on there. >> look at that. look at that. those are my dice. those are my dice. >> okay, hear me out. maybe i got lucky. people say this to me -- >> those are my dice. >> guy, screw dice. i'm a skeptic, i go, something's wrong with the dice. imagine -- and dice is only one to six. the world is your oyster. picture in front of you, your number, three digits, and i want you to see each digit in front of you as if it's in bold, like a neon sign, watch. one, two, three, four, five, six, seven, eight, nine. look at that. >> i saw it. >> i saw it, too. >> open book. >> if i gets bigger, smaller, the second, the third. people ask me, dan, all the time, same question is, do you always get it right? and here's the thing. this wouldn't be a fun act if i got it right every time.

swear to goe god, i don't get i right every time. >> feel like he might not be getting it right now. >> put your phone down. he's getting ready to get a video of this. tell us, bright lights, what was your number? say it. >> i see a 3. >> yeah. >> i see a 9. and i see a 9. >> i get it wrong some days, but today is not that day, folks. today is not that day. >> yeah. >> today is not that day. and wait, wait, let's get back to stocks. because i've got your numbers dialed in. mel, picture this. i'm going to give you a visual, okay? you are throwing darts at a dart board. karen, same thing. each of you take and i want you to grab your hand, show me some acting. imagine this scenario. on all of these places, 20 double, 12, 9, every single one of these has a different stock. all over the place on this. make them up right now, impulsive. mel, throw it. and let's say you hit a -- a ten

right there, a single ten. karen, throw it. and imagine you hit, i don't know, make one up, 16 triple. well done. and when i -- i'm going to say, one, two, three, and when i say that, these are just random stocks you're going to make up in this moment. i want people to know, there is no rhyme or reason to this. when i say one, two, three, name whatever random stock you just hit on there that you made up right now. one, two, three -- >> mastercard. >> at&t. >> at&t. okay. and so, we have different ones there. and i want you to imagine that this time, you don't hit a random one. throw again. get ready. this time, you laser focus. because the way to control markets and influence them is when everyone is aligned. and both of you focus, throw it, and this time, you hit the bulls eye, bam, bam, you hit the bulls eye. and if you can get people aligned when they're buying, what is the stock, it goes up in price. you each hit the bulls eye. tell us on three, when i say one, two -- when i say it, say the stock you just saw right

there, look there. one, two, three, go -- >> master card. >> get out of here. >> get out of here! >> mastercard is what i wanted you to think about. >> how is that possible? >> how do we take it to the next level? you could have said any stock. you didn't know it was going to be on here. but -- how do you control the markets? pull up, i want to know, what mastercard was trading at the moment you thought of it. pull it up. pull it up. you can do it. >> i got it, yeah. >> can you control everybody at once? tell us all, what was the price? say it. >> 399. >> wait, wait, wait. >> 399.44. >> $399.44. >> oh, my god. >> and that changes every second, afterhours tradings . >> wow. that's all she wrote. "fast money." >> we're going to need to do another cannabis segment now. that was crazy. >> stick around for the final trade.

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osisko. one more check on nike here. more from the conference call. the company sees gross margin expanding by 100 basis points thanks to strategic pricing, improved markdowns and lower ocean freight rates. the stock up 9%. by the way, we wanted to give a special shoutout to our friends at haribo. we are big fans. big fans of --

>> huge! >> and after one of the recent raves, take a look at what they sent us. >> unbelievable. >> who gets the socks? >> they sent us 20 pounds of candy. >> yeah. >> a handwritten note and a lunchbox. i get the lunchbox. >> yeah. >> so i can crack people over the head. but thank you to haribo. >> fantastic. >> ba ravo. >> we busted through seven bags easy a week. >> easy. >> twin snakes. everybody loves them. time for the final trade. let's go around the horn. oz stuck around, so -- >> i'm bullish nvidia. i lost because i didn't pick nvidia, so, i'm back with it. a lot more upside there. >> tim? >> well, oz knows that google is best risk/reward in the market. google. >> karen? >> yes. i bought some iwm, which has had a horrific run. i don't have a ton of small cap exposure, but seems overdone to me. >> dan? >> yeah, guy, read me mind, tlt, that reversal today. looks like it wants to -- >> party. see?

that's -- >> amazing. >> unbelievable. >> mastercard, you know how i got to it? i did a pad like this, landed on mastercard and that's how we picked it. it's unbelievable. >> oz is the bleep. >> thank you for watching "fast money." thank you, oz ♪ there's always a bull market somewhere and i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. i'm just trying to make you money. my job not just to entertain but put it in context. call me 1-800-743-cnbc. tweet me @jimcramer. memo to the bears. beware of an oversold market. it might be a sign that you've overstay