i always listen to mark mahaney. and when i look at a lot of the different growth areas of this company, this already tells me something a bit of a sneak preview. he, like, they are getting from a position of power. they started to accelerate some of the subscribers if they can charge us a bit more, that tells me a lot. it tells me they are putting money into content, but at the same time this is a company that over time, we have seen the earnings grow and grow and grow. because of that i think this is finally a company where it looks a bit more interesting steve is talking about it's sitting on one of those levels where it could bowen i think it actually -- this half hour goes by very fast i throw it was pretty good, with a bit of a political metaphor. the bottom line is we're all going to die that's all you need to know. [ laughter ] >>> a retail reckoning, consumer stocks taking a hit day. how should you trade these stocks gown? stick around for a special edition of "fast money." you like this? coming up at the to

mark mahaney tells us which way the roller coaster is heading. the u.s.me court's conservative justices president biden's push to get more people vaccinated as omicron continues to spread. how the tech industry's attempt to simplify the process of selling a house created a pipeline for billionaire investors to snatch property away from middle-class owners. the u.s. adding a far fewer than expected jobs. wages rose slightly, which means the economy is getting back to normal, and the focus now is on inflation. >> it is a confusing report. >> i'm not sure if it is an all clear. >> economy has normalized. >> there's nothing that will change what the fed signaled. >> the job market has normalized to a great extent. >> we are still moving around a full employment dynamic. >> that means the fed should normalize its monetary policy. >> the fed cannot escape the inflation issue. >> it is all about inflation. >> the presumption is a hike. >> they are going to chase this thing and a hike aggressively. >> 3, 4 rate hikes on the table. emily: the reaction on bloomberg

mark mahaney of the evercore isi team. ing in kriti gupta who has been digging into the selloff. kriti: you just heard mark talk about, as you have more hawkish monetary policy factored into the market, high multiple stocks are affected the most. no surprise, a lot of the gains concentrated in microsoft, apple, meta. what is crucial, yes, you are seeing big tech lead the selloff. you are also seeing them leave the returns. you saw them lead the s&p 500 to those highs before they went into correction territory. something to keep in mind is what is the buying opportunity, what signals should you be looking for that have worked in the past? we talk about the conversion. we should also talk about the dollar. a weakening dollar has proven to be what it takes sometimes for foreign investors to buy the dip. that will be something to watch for in the tech space. matt: we had a couple of indicators that we could be seeing a turnaround. vix maybe gives investors to go back in once we show some capitulation. bitcoin seems to be a risk

mark mahaney tells us which way the roller coaster is heading. the u.s. supreme

. >>> and evercore's mark mahaney talks about doordash >>> the nation's earnings score card covid's impacting, demand, and the bottom line protecting your investments, funding new potential. team coverage and analysis all day. watch or listen live on the cnbc app. >>> the rise and fall of elizabeth holmes >> she was the next bill gates or the next steve jobs but of healthcare >> the true legacy of silicon valley is to build great products that can make a difference in the world. >> or a brazen fraud >> holmes says she's the victim. >> with reckless disregard for human life >> i knew she was putting patients' lives in jeopardy. >> all new "american greed" tonight 10:00 eastern on cnbc. >>> the white house announcing a new covid-19 testing adviser dr. tom inglesby, the former director of the johns hopkins center this comes as the biden administration is trying to ramp up its testing initiatives to keep schools open, doubling testing capacity in schools to 10 million tests per month labcorp was the first company to get fda approval for its at-home test and ceo adam schechter joins us now for

i want to stick with spotify and bring in mark mahaney of evercore. what kind of topic do you think this headache is going to be for spotify? >> my guess is they handled it reasonably well. if we watch the joe rogan clip he put up and with what he posted about over the weekend and they disclosed their rules for handling content, it seems to me they address this reasonably well had on. this doc went up a little bit -- the stock went up a little bit. you are sort of moving beyond the netflix overhang because that has been a major overhang on the stock. the confluence of events helped. i hope spotify will address this issue and it's amazing that when they went into podcasting two years ago that once you get into content, you've got moderation responsibility, so they will have to deal with this issue going forward. seems like they handled rogan reasonably well. emily: we have seen companies as big as facebook handling misinformation issues to not necessarily great effect. do you see spotify on that same scale or do you think they can manage this? this is

acquired them coinbase has gotten eviscerated, especially today we're at levels of support and mark mahaneymes, coinbase he believes will be the bank of the metaverse. maybe there's a play there in terms of all of this >> got to figure it out. somehow this is all going to come down to a cannabis trade as well, if you pick up what i'm putting down that metaverse is something. >>> coming up, high-energy trading. oil hitting a seven-year high. oil stocks are leading the market whatever happened to esg investing. >>> plus, amc you later. all of its gains since may gone. is there any reason to own this stock again? we'll talk about it coming up. >> announcer: get your trades to go with the "fast money" podcast. catch us any time, anywhere. dcti a today on your favorite poasngpp we're back right after this. well, would you look at that? jerry, you gotta see this. seen it. trust me, after 15 walks... gets a little old. i really should be retired by now. wish i'd invested when i had the chance... to the moon! ugh. unbelievable. a jelly bean that's good for you? nature's bounty introduces new jelly

some names that make sense and i'm not looking to play stock market here, but roblox makes sense, mark mahaneyhe metaverse. does this make sense to you? >> definitely, open c has turned into the killer app for nfts and metaverse real estate is all nfts the more infrastructure you can gain exposure to in the metaverse sector, obviously openc is a private company but they closed earlier this week. >> jeanine yorio, your report was incredibly helpful and knowledgeable, i hope people can read this and check it out a lot of people have a lot of questions. thank you very much. >>> tim, bottom line this for us >> look, as jeanine said, in good times and bad times, the metaverse is a place you're still very early on this trade whether it's a real estate player or a branding play, we've talked nike's role, we've talked about chip companies, nvidia specifically, there's a lot of ways to play it. there's going to be an element of this trade that only works when you have a massive liquidity rush like we do right now. part of the pain we're seeing in broader high risk asset classes is something that i thin

mark mahaney moves that stock up. dd getting ready to d list from the new york stock exchange.hiclemaker pulling out of america? >> the uber of china and they are struggling. they started talks according to these reports and continuing the process to delist the exchange, it is well illustrated. it has been a disastrous us ipo, went public at 14, and us investors who bought into dt, there could be a 1-for-1 swab to move their ownership to hong kong if they were interested. if they were interested in holding this was stuart: americans lost some money there. i see this headline, general motors new marketplace. >> this is an interesting strategic shift for general motors and gm. they are outperforming so far this year with higher yields moves we've seen and what gm is doing is the new name of their market place, car bravo, dealers sell used cars online. that is competition for used car online sellers like carmax and the like. used car prices last year jumping by a lot, most since the 1950s with lack of chips, the new car is available, gm does this direct in the second used car mark

let's discuss this further mark mahaney, head of internet research at evercorps isi. to see you do you agree with bill ackman that netflix is a buy here >> i read his letter, i agree with everything in it. this is a great service, great company, free cash flow tipping point, subscription model. there's a lot -- i agreed with all of it. it's not a buy for me because we had a negative inflection point in terms of the most important metric, subscriber growth. if that is the case, acumen is a genius and he's come in and they called the bottom of the stock i don't have that kind of conviction to me, this is somewhat similar to priceline or booking.com, which was a great phenomenal stock, great phenomenal company. it left premium growth and became a so-so stock that's sorpt of what i expect to happen now with netflix. >> is part of that linked to whatever valuation multiple it was on before this pullback and perhaps still, was it closer to being in the pelaoton camp of evaluations than the microsoft camp of evaluations? >> somewhere enbetween there look, the market was expe

this is mark mahaney, did you just downgrade netflix?did on the earnings results. what is interesting is we have to an activist involved in the stock, taking the stock up 6%, 7%, 8%. this is a negative inflation, materials lee slowdown without explanation. first time i downgraded the stock in over a decade. stuart: would you say the same thing, about whether you follow other streaming companies, are you downgrading anybody else? >> you are raising a good point. netflix is the leading service worldwide and this is a wonderful service, great management team, the subscriber growth is going to slow the stock can't perform, and a huge valuation correction and in the last two months of the stock. stuart: it used to be 300, now history hundred 87. how about amazon, you've been on this program frequently saying it is 4300. it is 2823, premarket. are you still holding out for 4300 years end? >> i'm a patient long-term investor, three key points. first, the nasdaq is up 14%, rising inflation concerns, always undermines tech stocks especially those

jeff, i got to tell you one of our guests on the program last week, mark mahaney, he says amazon willar. that is way up where it is now. i don't think you agree with that, do you? you tell me, what is wrong with amazon and how far down is it going? >> a lot of people think it will go to 4,000 because a lot of people are just, are just giddy over their revenue number which is over $135 billion annually amazon does close to $400 billion in revenue the reason why i don't share that gentleman's opinion is because amazon operates on very low margins. the reason why it declined as much as it did was because of a number called free cash flow. basically means the money they have to spend in order to achieve the earnings that they achieve. that number has been contracting and now what amazon is facing on thursday is they're facing that they have to, they have to step forward and essentially tell the investment world what they anticipate the effects of higher labor costs and inflation are going to be on their margins. so i think amazon, that i liked for a lot of years, stuart, as you know. i th

mark mahaney also downgrading it jpmorgan maintained an outperform rating saying now there's a buyings the board. tom rogers is joining us tom, what's your take on what netflix said. >> i think the market is substantially overreacting i don't think this projection for one quarter is an accurate assessment it's tip tale -- so if you project that out they would be doing 8:00 to 9:00 million, well below -- on the other hand, if you take the 8.3 they just delivered, that's over 10 million for half a year they are on track to deliver the -- i don't put too much against the one quarter. does it mean their business model has been blown up? no these guys are truly in a league of their own they're number one across all ages they had the biggest show on the planet they won more oscars than anybody, more emmys, far more international programming than anybody. against that backdrop it's heart to get bearish on this story. >> the competitors, and i'm talking about multichannel, big media companies just across the board, has streaming gotten to the point where it's not just incremental growth versu

mark mazza mahaney says is going to 256 by the end of this year. >> that the reason you are bringingd off so we don't get the timing on this right but this is the market leader in terms of delivery in the us market. they do restaurant, food delivery but also convenience store and grocery delivery. they are generating 70% of revenue growth and in a business most people didn't think would turn profitable, they bring free cash flow positive, the stock is pulled back a lot over the last three months. stuart: i never knew there was so much money and food delivery. this is a product of the lockdowns i take it. >> absolutely. one of the biggest structural winners from the pandemic but even post pandemic the idea that you could have a restaurants delivery to your home and convenience store, doord- powers it by 711. you see more companies using doordasked to do delivery because consumers increasingly want things delivered to their home. it is a broad sweeping trend across the us but it will happen internationally. stuart: back to your promotion of amazon. you've got that look on your face. yo