estimated to generate more than a billion dollars from investment banking this quarter. >> all right, going to have a busy morning. bank of america chairman and ceo brian moynihan will break down his company's earnings tomorrow morning on "skwaux on the street." we're going to get results from jb hunt, and rio tinto, which will be interesting, given everything we're seeing coming out of china, and they are forging further into lithium. >> and with nvidia having passed microsoft again to be right behind apple in this market cap race, we'll see how quickly a.i. materializes. >> yeah. 46 record close for the s&p 500. record close for the dow, too. that does it for us here 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. a record-breaking day. the dow and s &p hittinger from all-time highs.

what are the charts saying about the health of this rally? we'll go inside the numbers. plus, ditching discounts. why brian niccol wants starbucks customers to pay those grande full caf prices for their coffees and snacks. we'll debate. and later, is the crypto climb a tell for the election? while wells fargo thinks flutter is worth a gamble. and the details behind today's sofi surge. 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. a milestone dale foy for st. the dow closing above 43,000 for the first time ever. and the nasdaq closing in on a milestone high, as well. less than a percent away. it was also a historic dale for nvidia. shares closing at a record high, up 8% in the last five sessions. the first time since june the a.i. giant has closed at an

all-time high. the chip maker topping 3$3.4 tri trillion, apple at $3.5 trillion. what does this say about the health of this rally, maybe just the strength of nvidia itself, guy. >> first of all, people should know that mel is playing hurt today, and, you know what? >> they can hear it, but -- >> you should be acknowledged for coming in on this columbus day. >> there's no i in the word melissa. >> there is an i and tim. and a me in seymour. >> often. often. >> you go back toll the spring, early spring, and nvidia had that huge move down, we had a 30% downdraft and the market took it like a champ. the market's taking it like a champ, almost 38% move from the june 20th day that you just talked about, to that august 5th low, from 140 to 90 almost in a straight line. it speaks to the resilience of the broader market. now, again, for nvidia, which has at least, you know, three, four weeks prior to earnings, you get through that 140.50

level and it's in a new trading range. >> i feel like nvidia's gone up a few times on the same news about blackwell, remember, it was -- i don't know if it was last week, the prior week. >> demand is insane. >> insane. so, that sort of put some fire under it, and i feel like it keeps going on on the blackwell news, and, i mean, the bar is getting higher and higher going into earnings. at some point,ly probably look to sell some out of the money calls, but not quite yet, i do feel like there's a little bit more to go here, and some of the rest of the names aren't quite as back to where they were. so, it's funny when things go up on the same thing. >> everybody watches jensen huang. he popped by the set of "squawk box" -- >> that was worth $10 billion, $20 billion. >> obviously. but he also talked about the moat they have around inferencing, which had been the skeptics case, the bear case around nvidia, that they don't have that advantage there.

and the software isn't the moat isn't that it should be. he addressed that directly. >> talking about this chip having 30x the performance. a lot of these companies have built these huge clusters, they have already done the training, so, they have to put this in place and get the mass adoption of these products, not just in the enterprise, but also the consumer. i was talking to "fast money" friend gene munster earlier today, and one of the reasons he thinks there's another leg to this is that folks are starting to look at next fiscal year and they're saying that 40% or so, m mid 40s earnings and sales growth is something they are likely to hit, possibly guide higher. two years, cone census is calling for 20%, and he thinks that's the one that probably gets racheted up at some point. talk about expectations, if we're starting to look out two years and trying to discount where consensus is, it feels like it's getting a bit euphoric. guy mentioned that 35% downdraft from the highs a couple months

ago, here we are, we're all the way back. this whole move has been unabated over the last month and a half. what's going to be the thing to really break it out? you talk about earnings, that's mid to late november. we're going to have all the customers, taiwan semi later this week or so, they're going to be giving guidance. that's what's going to be trading off of. at $3.4 trillion, just shy of apple, things really have to go well for this company that is expected to do $125 billion in sales this year, which is basically a third of apple, it's half of microsoft, that sort of thing, and they have to maintain the margins. >> well, taiwan semi gave us an update last week and those numbers were fantastic. so, if you're going to impute that upon nvidia, i think that's great. we opened the show talking about the run from october to 2013, the two-year bull run. first of all, during this period, it's one of those moments where in terms of that cpi, that october 2022 cpi when the market went straight down on

the highest inflation print and since then, the s&p is up 69% from that intraday low. nvidia is up 1,180% from that intraday low. so, a split adjusted somewhere around, you know, a little under 12 bucks a share. whachl i what is it going to do? people are feeling that, one, the risk maybe to underinestment is the risk to investment. cowen is talking about the hyperscalers having a prisoner's dilemma here so, the spend continues to go on. part of the argument is that hopper can bridge the gap. that insane comment of, you know, two weeks ago, morgan stanley did a company management meeting where they talked about some of that same dynamic, they have bookings out 12 months. so, it's not -- and no one's ever questioned if the demand was there, but it's degrees on that. i think from a chart perspective, i think it's

fascinating. i think the fact it's worked off that june low, that semis, as a group, have outperformed the s&p again and are leading by about 12% over the s&p since september 6th. that's powerful for the market, as well. >> that's an interesting point in term of the prisoner's dilemma. do you want to be the ceo of the company that didn't lean into a.i., knowing that's the next big trend. it may not be next year, but at some point, and say, you know what? we're going to pull back at this point. >> fair enough. >> no, you don't -- >> if you are that ceo, you better hope that comes to pass right away. >> exactly. >> for the payoff. >> yes. >> and you're seeing it -- there are two companies, walmart, without question, if you look at their last quarter. and facebook, as well. i'm sure there will be other companies that will start to reap the rewards. and i'll throw this out there, as we're approaching $3.6 trillion in market cap, which we're pretty close to it in terms of nvidia, a company what does $180 billion of revenue next year, you can do the math. 20 times revenue, that's

historically very expensive for this sector and these semiconductor stocks. >> i'll say this about walmart, and it's a good point. there's a customer that's using this technology and hopefully we're getting return on investment or greater productivity, but what you're talking about is the buildout of the data centers. so, the need for all of this compute. so, to me, i think there's a very strong case there's going to be an overbuild, overcapacity, and next year, you will see people pull back on orders, and that will be the thing. when you see nvidia have these down 30% moves, that's just table steaks at this point, the way the stock has moved. you can have it down 50% move if people start to think that maybe there's just this kind of trough of disillusionment coming. we really have near euphoria, just look around. think about other times, we've saw these sorts of things like some sort of skepticism about the pace in which these -- we've had big selloffs, so, to me, i think it could come. i think we're probably not too far away from it. we've talked about the use cases and folks are just not telling

you there's this return on investment. >> the more we hear about the likes of walmart reaping the rewards of them being in a.i., doesn't that support the case for the buildout? and if we can get more and more outside -- >> maybe. >> right. they're using compute power. >> walmart looks like nvidia. pull up a five-year chart of that. whatever enthusiasm is about the kind of productivity dwayne gais in the stock. >> the point isn't about walmart, it's about all the others like walmart. >> all right. we're using walmart. it might be a roundi i ing erro. >> let's think about the banking sector then. that's a huge sector. huge spend, insurance. >> right, but this is going to take years to get those sorts of returns on that sort of thing. think about when you're upgrading enterprise software, the transition into cloud-based things and the subscription, it took much longer than people expected. >> from that june high to where we were, again, talking about intraday lows on that august 5th

day, when it was bank of japan, i don't know what was going on, carry trade, weak data, but nvidia had a 36% pull-back from peak to trough. and that was not even one people were talking about. so, your point is right, dan. the volatility inherent in this stock is outrageous. if you think about how quickly it recovered from that, in the middle of a period where maybe that low was also on the concerns around blackwell production, fair enough. but the data points here, to me, are enough to say the next couple years, and again, if i was seeing a competitive landscape that was different, that would be another story. let's get to the banks here. goldman sachs and morgan stanley closing at new highs. they're set to report tomorrow. bank of america and citi are also on deck in the morning. so, what do we expect here, karen? >> well, the -- jpmorgan really startled us off well, right? so, i think we're expecting -- well, citibank, which is my next largest position in banks, i expect good fee service, i think that card chargeoffs will

remain, i mean, jpmorgan seemed firmly in the 3.4 camp. i would think they would be somewhere around there, and i think, you know, markets and bank activity was a positive there, so -- citibank has come a long way in the last three or four weeks, but i still think there's room to go there. it's undervalued. i know you always site price to tangible book. they do seem a little slow, being able to get out of the -- under this decree or that decree. but that will eventually happen. >> goldman sachs is interesting. historically, we've seen -- i don't know this, maybe ken knows this, if he still works for the firm -- >> the firm. >> you'll see goldman sell off after earnings. the levels that we're trading up to, the fact this has been resistance a couple times leads me to believe, you know, maybe we're sort of at the upper end of the short-term range. so, we like goldman sachs for a long time, but the way the stock has traded into earnings to me is -- it's not all that

encouraging and a continued upside. >> if you think about the cycles that goldman's been on -- it was a $300 back in that same two year ago move. some of this was also unloading unprofitable or lost leading consuming banking dynamics, but an environment where if anyone was able to navigate through and make money in some of their trading businesses, and really, in some of their specialty businesses, it's probably goldman. i agree with you. this is not the multiple in the banking space that looks interesting. it's money center and regional banks, it's not goldman. >> joining us now with the technicals about nvidia, and what is next for the financials, is adam turnqvist. we have stocks at new highs today, so, what is your forecast for nvidia? >> right now, when you look at nvidia, it's been a pretty impressive breakup. finally broke out of this consolidation range, cleared 130, and if you measure that move, you apply it to the breakout level, the technicals here are telling you maybe 170,

175. of course, we don't cover the stock, but that's the technical objective-based price move, and we're finally starting to see some relative strength in the name. hasn't had a new high since june you but it's rallied 40% off the august lows, that's certainly showing some great momentum coming into q-4, and maybe enough to turn the weakness in the semiconductors over, and create an inflection point in relative strength there. >> which bank chart looks the best to you? >> i think we got to talk a little bit about morgan stanley, because this one's been really interesting. it's been in this consolidation phase for, call it three years, finally breaking out through resistance at 109, and it looks like this rally has more room to go. it's -- the longer consolidation phase, the more meaningful the breakout, so, technically, we view this as a significant breakout, finally clearing that key resistance level. when you look at earnings coming up, we've heard from jpmorgan, wells fargo, asset management

revenues in those fees look pretty good. not to mention investment banking, trading and sales also looking pretty good. so, some potential catalysts to drive this rally higher, and then on a relative basis, we're also seeing an inflection point, when you luke at morgan stanley versus the s&p 500. starting to show relative strength. >> all right, so, we mentioned, a two-year birthday of the bull market. are we going to be sitting here next year celebrating the third birthday, or is it going to be over? >> i think we will be here. i don't know we're going to talk about 27% annualized returns. that's what we had during the first two years. year three tends to be a little bit more challenging, but the good news, it's still positive. depends on how far you look back, but average three year returns is around 5%. and the other good news, bull markets tend to be durable. they last only average at least, since 1950, they last 60 months, five years. suggesting this bull market has

room to run here. >> adam, how about the relationship between either some of these sectors and the overall market? semis typically have been the leader for this market, and they've resumed that leadership. how about banks, though? the cyclicality of the banking sector, the good will from, i mean, the investor community, in other worlds, people are reasonably fired up in a more benign credit environment. how about -- are banks leadership here? can they be? >> they should be, because banks are leaning on several different metrics. when we started to see semiconductors give up that leadership status earlier in the summer, we asked ourselves, okay, who is going to pick up the slack? and financials have done a pretty good job of doing that. when you look at how many financial stocks are outperforming s&p 500, over half. that's the highest across all 11 s&p sectors. they also have some of the best momentum with the most stocks clearing their important july high resistance levels. even though valuations aren't as cheap as they used to be,

though, i still think there's relative value and performance here for the financial sector. >> adam, thank you for joining us. appreciate it. >> thanks for having me. >> morgan stanley with the best chart, you agree, guy? >> let's look at that chart. the levels he's talking about now, this goes back to february of '22, that prior high. look at the double bottoms. and i remember the group talking about that in october when the stock traded down to 74 or so of last year, it was the same low we saw, i think, in june 2022. so, that held up extraordinarily well. now, of course, the problem is, we're up against that prior resistance level. so, yeah, it looks great, but keep in mind, you know, typically, past resistance will be future resistance, and we're right up against it now. >> back to your question, and again, you know, might have listen a little glib with guy about the walmart thing. there are lots of industries, and to guy's point, the company did spend a lot of time talking about e-commerce improvements, greater productivity, customer service. these are all things that are going to work within financial

institutions, but my only point about that is these companies have been investing in machine learning, all this sort of stuff around data, for a long time. so, now it gives them the opportunity to talk about generative a.i., and using that to do all this stuff. i think it's going to take longer than a lot of folks expect. >> look at the correlation between morgan stanley and the overall market. this isn't necessarily a banking firm. that's where they put their business. look at the move in the markets. the increase year over year is great for them. coming up, google going nuclear. inking a new deal to power its data centers. the details on that one next. but first , brian niccol is tamping down on discounts, as he looks to turn starbucks around. bradley tusk joins us to lay out his take on crypto's comeback, a.i. regulation, and much more. that's coming up. much more "fast money" in two. this is "fast money" with melissa lee, right here on cnbc. getting older is part of the journey,

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sliding as the company gets ready to ditch discounts under new ceo brian niccol. let's get to kate rogers with the details. >> hey, melissa. starbucks is stepping away from discounts under its new ceo, who took the helm in september. that's according to a report in "the wall street journal." in august, starbucks started to phase out its $5 bundle offers. they were introduced as a flurry, remember, of value deals hit the market including $5 offering from mcdonald's a burger king, as chains are competing for the low income consumer this phaseout did occur before nichol's tenure started in september. in addition, "the wall street journal" reports the company offered extra loyalty points on tuesdays and deals on saturdays in a move away from a previous buy one get one offer. starbucks declined to comment on the report. in setting the agenda for his tenure at the coffee giant, nichol says he wants to get back to starbucks, in a company-wide letter we previously reported on, slimming down the menu, making sure that, quote,

baristas have the tools and time to craft great drinks every time, delivered personally to each customer. a premium experience is what the coffee company has been known for and seems they are heading back in that direction with pricing and the overall experience, melissa. >> kate, thank you. kate rogers. tim, what do you make of this approach? >> i wouldn't run too far away from promotional. >> really? >> i think pricing issues are a big deal for a company. we've gotten into this world where we are no longer as concerned about -- forget the low end, that's probably not starbucks' customer. it's not like they're that hard at work at promotional for that long. this was september, they were doing the bundles. they -- one of the things i heard, they were pulling them back because of operational challenges. so, i just think starbucks has to be very careful. there's is a dynamic here, where they are losing people. you add in the in-store operational dynamics are the biggest issue. that seems to be what he was talking about. if bundles were creating operational issues on top of

operational issues, i would understand. but i think on the price side, people are paying attention. and they don't like it. >> i definitely agree with that. if i were a shareholder, which i am not, i would give him some time, though, right? let him do his thing. he's been there a minute. see what he's got to say. but if this happened under the prior administration, this same news, probably wouldn't have been unchanged, i think. >> yeah. bank of america had an interesting note looking at some of the data amongst loyalty customers and nonloyalty customers and this data indicate that some of these occasional customers, they are just not going back to starbucks. they are leaving specialty coffee altogether. maybe they 've given up coffee, but they're not going back. >> which is why i don't think it's an easy fix. it's still on a 3 1/2 year downtrend from its prior all-time high. and, listen, at 25 times next year's numbers, it's not historically expensive, however,

it might now be historically expensive given the obstacles. they report on or around halloween -- >> boo. >> might be a scary one. >> speaking of scary, how is that almond latte going for you? >> speaking of boo. >> nothing wrong -- that's my drink if i ever go, by the way. >> speaking of boo. guy is not much of a bogo guy. >> he doesn't know what that means. >> they're doing away with the bogo. you're a big customer. >> you actually are. >> interesting -- so, nick kohl, who just got here, we were saying this before the break, like, i've never seen starbucks advertise on tv, over the course of this weekend, i saw them advertising. i don't think there was any people in there, a cup of coffee and a green thing and their little mermaid. i just -- >> show the evolution of the coffee ben all the way through the cycle. >> did they? >> i thought it was compelling. >> i wonder if there's going to be a marketing shift.

there's a lot more "fast money" to come. here's what's coming up next. >> the trek trade is going nuclear, as google innings a new deal to power its data centers. how a.i.'s energy consumption is changing up the whole space. next. plus, still looking for that swoosh? nike under new leadership, but will the changes at the top be enough to send shares to new heights? you're watching "fast money," live from the nasdaq market site in times square. we're back right after this. the fearless investor. the type a cpa. the bootstrapper. the bootmaker. yeehaw [narrator] but many do have something in common. we all trust schwab with our wealth. [narrator] thanks to our award-winning service, low costs and transparent advice. every day, over a million multi-millionares trust schwab with more than two trillion dollars of their wealth.

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welcome back to "fast money." google inking a deal as the company looks to meet growing data center energy demand. oklo backed by openai's sam altman surging 10% on the back of the deal. for more, let's get to dee bra bosa. >> hey, mel. we know that all three hyper scalers are increasingly looking for ways to feed their growing about time for energy to power a.i. nuclear power is proving a popular route. this deal is the first of its kind. it focuses on the development of multiple small modular reactors,

or smrs, for 500 megawatts of energy. that's roughly enough to power 400,000 homes. another way to characterize it, one a.i. data center campus. giving you an idea how much energy is needed for the a.i. boom. google didn't provide financial details, but this is part of what it's calling its clean energy portfolio. and it's a longer term project. the first smr expected online by 2030, and additional deployments through 2035. on a media call, google's senior dre director for energy and climate said this is a way that is more round the clock. another way google is meeting increased energy needs, they are looking for opportunities on the demand side, like using a.i. to shift compute loads to different times of the day to align with power grids. this is a pry vivate company, b shares of oklo moving in

sympathy. this is a california-based effort that is building its first smr by 2027, so, that would be ahead of this deal that google has, and could be maybe open it up to some opportunities if this is, in fact, a viable way of getting nuclear power online at a much smaller scale. >> because it's backed by openai's sam altman, is there any thought they would make available the power to only certain players? >> it's possible. you're talking about oklo, the public company. i'm not aware of them signing any deals with the major hyperscalers or openai, but the idea is that nuclear power and just the energy needs for a.i. is so insachable, it's going to rise at such a rapid rate, and these things are hard to get online. everybody is scrambling to find solutions. this idea of doing small nuclear reactors, that can maybe streamline the regulatory process versus a large traditional nuclear reactor, so -- it may prove a popular option, and maybe for openai,

since it's already got that connection. >> thank you. deirdre bosa in san francisco for us. dan? >> it kind of screams of bottlenecks here. access to gpus, you build the data centers, access to energy, it seems like the lead times are going to be sort of long. when i think about google, we know the ftc situation here. this is the only megacap, i guess mag seven, if you want to call it, that trades below a market multiple. seems like there's no shortage of headwinds that people are putting into the story. maybe this degradation they've had, from 68% to 62% really speaks to the sort of build this company is going to need to do. and all these competitors who are working, openai, perplexity they are trying to kind of take a shot at their, you know, hold, i guess, on the digital ad market, throw tiktok in there, too, so, lots of headwinds here. trades cheap, though. i know you love it, karen, but it probably is not a bad do right here if you can discount some of these things that are coming for them.

>> i'll take the nuclear side of this trade. this is the first time it's ever happened. commercial construction of these small modular reactors, this is a big, big deal. google can say, it's a carbon-free footprint, thinking of interesting ways to compliment what's going on with wind and solar. it's a case where, i mean, look, the symbolism behind microsoft cutting that deal and restarting the one undamaged reactor from three mile island, produced fantastic music in the late '70s, i mean, i just -- you have to understand what's going on in nuclear right now and it's only really early stage. >> how about the energy side of the -- >> that's -- right. >> for you. >> well, i mean, in the xle is very little of, you know, not this. >> right. >> so, i don't think -- it's so much broader than data centers. if it can become viable, if they do allow -- the first few to get approved and built, that would be the hardest, and then if they really work, i mean, that's extraordinary.

and very deflationary. >> yeah. >> real quick. this is a name we started talking about in the summer, but look at what vst has done over the last nine months. stock that we never talked about on this show, and quite frankly, there was no reason to, because for many years, it basically flatlined. now look at the stock. i mentioned it today, because it was upgraded and put a $231 price target on the back of that. and the valuation at current price is extraordinary. that price is somewhat ridiculous, so, these a.i.-adjacent trades, people are just sort of buying first, asking questions later. keep an eye on this. coming up, crypto, its proxies, and trump media stock with big moves higher today. are they pricing in a likely outcome on election day? we'll decision iscuss that. plus, do nike shares have a reason to run higher? that's when "fast money" returns. missed a moment of "fast?" catch us any time on the go. follow the "fast money" podcast. we're back right after this.

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record close. shares of caterpillar lower today. analysts at morgan stanley downgrading, lowering the price target from $349 to $332. the firm citing mounting pressures. and check out shares of trump media surging 20%, now up more than 86% this month. turning now to bitcoin. a big move today, popping more than 5%, soaring above the 65,000 level. ether also moving higher. and coinbase climb double digits, as well. and with the election less than 30 days away, our next guest says either presidential candidate could provide a favorable outcome for crypto. tusk venture ceo bradley tusk is here on set. they have invested in circle, coinbase, and ro. bradley, great to see you. >> thank you for having me. >> so, it's a win-win situation for crypto investors? >> in fairness, it's been a winter for awhile, from a regulatory standpoint.

gary gentzler has been the single worst regulator in grip taupe so, the good news is -- and this was good news once biden trumpeddropped out of the. the crypto community has done a pretty good job on the politics. not only is trump actively seeking their support, but harris is, as well. and so, we know that we'll get someone better than gentzler and hopefully get favorable policies. >> talk about the favorable policies. the one or two that are the most problematic that you hope to get? >> the most important thing is who actually regulates crypto itself. there's been this turf war in washington between the cfpc and the fcc over that. but ultimately, to me, the thing that gentzler has done that i have found almost offensive is the unwillingness to tell the crypto industry what is and isn't legal. it's one thing to say, okay, this is not okay, this is okay, and we can fight about whether

or not we agree, but to just say, okay, do what you're going to do and maybe i'll put you in jail, maybe i won't -- that's un-american, right? and so, you know, whether it's margin lending or anything else -- i really think more than any one specific policy, it's a, being treated with respect and, b, having information and predic predictability. >> given your history with uber, they had plans with autonomy and the like, we've talked a lot about elon musk's plan for autonomy, are there any similarities about how uber approached this? are you going to take the over -- >> so, there's this election also, i think, could matter a lot. what's interesting, for the last eight years, the u.s. department of transportation has blocked any regulations of interstate autonomous vehicles and trucking, because trump saw himself as a teamsters guy and biden saw himself as a teamsterps guy. the teamsterps said we're not

endorse, which works well for them if trump wins. all of a sudden, the regulations are going to finally move through if harris wins, and that means autonomous trucking, autonomous trucking. >> let's talk about you as an author. "flying cars" is a book. is that going to be nonfiction in our lifetime? >> yeah, look, there's over $8 billion invested in ev -- the technical name for flying car startups. you're seeing cargo, things like that happening. the faa has made pretty good progress in certification. where the rubber meets the road is going to be, where do they take off and land in cities? we're overlooking times square, and, yeah, sure, is a flying car could get a lot of people here pretty efficiently, but where exactly do you put a verta-port in the middle of times square? so, there's a world of political fights ahead. but the tech -- i wrote a novel last year about flying cars, when i started writing it in 2020, it was like, this is

something years away, i'll do something futuristic. by the time the book came out, it was actually becoming a reality. >> go mets. >> let's go mets. >> big mets fan. big day today. coinbase. >> yes. >> so, if we're in 2.0, maybe 3.0, why does coinbase still work? >> i think so. we were investors in coinbase, but i tend to exit once the lockup is over, so, i don't have any position in coinbase itself, but i think that brian armstrong is a fantastic ceo, and i think he's constantly thinking ahead. and he also is a guy -- there's not a lot of people who seem to have courage of conviction to say, i believe this, i'm going to stick by it and if it's popular, great, if it's unpopular, great. so, i think he deserves a lot of credit. we're not public market investors, i really understand why people would want to back them. >> we like to talk about your portfolio companies, but what's in your portfolio of stocks? what is your number one holding? >> you know what, i actually totally -- it's all done by my

financial advisers, i don't even know. i'm focused on -- >> you never get -- >> 53 companies in my portfolios. >> you don't get the itch to say, buy nvidia -- >> when i invest in an early stage startup, look, we get it wrong all the time anyway, but at the very least, we're working with a lot of information, we're involved from the beginning, me or myself are on the board typically, and we're involved in the regulatory and everything else. and i at least feel like i have some chance at impacting the outcome. that may be a fiction that i just tell myself, but i think that and my lps think that. when it comes to public equity, i don't feel like i can really move the needle much one way or the other, and so, you know, for me, you know, i found that i do better early stage. >> bradley, thank you for coming by. >> thank you for having me. coming up, big shoes to fill. elliott hill taking the helm at nike today.

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money." new nike ceo elliott hill clocking in for his first day on the job today, kicking off a turnaround effort aiming to get the shoe giant back at the top of its game. the stock is down 25% this year and nearly 50% in the last three years, as the company's shift in retail strategy fails to pay off. a lot to do on his first day. what would you like to be number one on his list? >> i think connection to the customer. i think this is one of the issues that -- i know it's -- we laud nike for their dtc business and what that's meant to them and their leadership and certainly that are margin profile and their ability to be in control. i think it's one of the things they're talking about. there's no question elliott hill is bringing the marketing prowess. i think the innovation story is one that's less important. nike's always been -- i know there's been innovation, but it's always been about the brand. >> i think like brian niccol,

give him a lot of time, right? it's day one. but i do think -- i don't know, the stories of morale being higher, that's helpful. i think the dtc is a bit of a problem. it worked really well during the pandemic. they were set up great. but i think, you know, we saw what happened to foot locker on the other side of that, taking away the wholesale and going dtc. i'm long. i think -- it's not cheap. there's -- there's some, you know, optimism built in, but i do think some optimism is warranted. >> a lot more complicated than the situation with starbucks. they have to get the menu right and there's issues geographically, but this thing, if you think about all these different moving parts -- is laud good? >> applaud. >> laud. laud. >> it just seems like very c complicated -- what? >> i don't know. >> surprised you didn't know that. >> i don't know. it's a lot more complicated than starbucks. would you agree? >> i don't know. actually.

similarities in that -- >> i think they're more in control than starbucks is. i think this is about what they choose to do with this brand and this connection. >> it's not just this brand, it's multiple brands. >> no one's close. >> yeah. >> what's the deal with the competition? competition has been eating your lunch. are you going to become nike once again and sort of, to tim's point, show everybody you're still top of the you know what pile. when we traded down to 73ish -- >> why is it the you know what pile? >> i'm not allowed to -- >> i've never heard that expression. >> you've heard it -- >> the word that goes before pile. >> finish your thought. >> double bottom in the stock. traded down to 2020 lows if you go back and look. it actually looks pretty good. expensive -- it's always expensive. maybe they can figure it out. >> why not just say applaud? >> because i'm trying to use a better word. i am a bit of a wordsmith. >> no, you just feel bad that you didn't know it. >> we can define these for you.

>> we don't need to know anything. >> the more you know. coming up, a few fast movers catching our traders' attention. how they're handling flutter, sofi, and hims. more "fast money" in two.

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welcome back to "fast money." we've got some fast movers in the green today. let's start off with flutter. shares of the fanduel parent regaining some momentum on a bullish upgrade from wells fargo securities. shares had fallen when the uk is considering a higher tax on gambling. wells fargo upping the price target to $294. analysts saying friday's selloff is a worst-case scenario, but flutter's track record makes this appeals. guy? >> this is something danny moses talked about. this one you can wrap your head around. if you don't want to go that route, i think draftkings had a huge selloff and it starting to bounce again. i'm looking at when they report -- sorry about that, mel, they report on november 1st, so, draftkings, into earnings over the next couple of weeks, can get momentum. >> i just have to say, draftkings was one of my stock picks with breanna stewart, you

killed it yesterday, great job. >> yeah. >> yeah. >> take a look at shares of sofi. jumping more than 11% on news of a $2 billion agreement with fortress investment group for sofi to grow its loan platform business, dan. >> yeah, to partner with someone like fortress, to give them that kind of backing, that confidence to do it, it makes a lot of sense. the stock has been kind of stuck in the mud. gotten back now towards 52-week highs. still well off the multiyear highs. seems like a great catalyst. >> andllowing compounding pharmacies to sell knockoffs. it offers a compounded version of? novo nordisk's, not lilly, but there's an uncertainty that the fda can basically just dictate their future by -- >> i saw that headline, and, you

know a lot more about this stuff than i'll remember, or something like that, whatever that expression is, but -- to me, it -- that they're able to get out there and actually be making their own version of this and the fda -- think about the fda process for so many other drugs and this seems to be a little willy nilly. >> eli lilly has said that all dosages of its drug tirzepatide are available right now, so, it is not in shortage, so -- the company is weighing in. i don't know who you believe. the company says it's not in shortage. >> why do you need the compounders? >> why would you believe hims or hers? all right, be sure to check out "ozempic underworld." you can scan the qr code on the screen, or go to cnbc.com. dan -- >> i'm doing it right now. >> you watched it. "big shot?" i loved it. watched it three times. >> up next, final trades.

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if the new york mets were a stock, 2024 was quite a season. a lot of volatility. let's go to the charts. we're going games over .500 against a relative strength indicator. a measure of how overbought or oversold. fundamentals were solid. mets opened 0-5. one of the worst starts in team history. they kind of meander throughout the season, but hit a low point, relief pitcher jorge lopez, out of frustration, throws his glove into the stands. team, 11 games under .500. sentiment, all-time low. frin ciscolindor calls a team meeting. a time to be a buyer.

>> welcome back to "fast money." that was tim seymour charting the 2024 mets season on sny "sports night" -- >> we love sny. that's fun stuff to do. it's easy to talk about it as if it was a stock, that's what we do all day long. markets and sports have a lot of crossover. >> as we're sitting here now, by the way, it hurts me, pains me to say this, but the mets are up 6-1 as we head into the sixth inning, looking to come back to shea tied at one -- >> three innings to play. let's play this thing out and take these one game at a time. that's how we're doing it here. >> the thought of a yankee/met potential world series is -- >> is what? >> terrifying to me. because as an arrogant yankee fan, and i am one -- >> most are. >> would put me in a no-win situation, melissa lee. we can talk about that tomorrow. >> i look forward to it. back with the final trade, let's

go around the horn. tim? >> a lot of power in that mets lineup. a lot of power in enbridge. >> karen? >> yes, i find myself agreeing with dan on the google valuation, below market multiple. we know there's headwinds there. i think it's keeping it low, but i'm long, i like it. >> dan? >> while you're waiting for a nike turn around, you can probably play lulu to the upside. >> guy? >> nancy's son evan, who never misses a show, happy birthday, 6 years old today. huge "fast money" fan, e.t. go to mcdonald's for your birthday tonight. stock's doing well. >> thank you for watching "fast money." see you back here tomorrow at 5:00. "mad money". 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 yo