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tv   Fast Money  CNBC  July 7, 2022 5:00pm-6:00pm EDT

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that doesn't seem like enough. >> that is why you have to wonder, and i will give you the last word, casey, but you think he still really wants twitter? less than 20 seconds. >> yes. he just wants it at a much lower price. he is willing to go through extreme length to get there. >> all right, good stuff. i appreciate everybody coming in the ring. we will see where it leads to. we will see you tomorrow. "fast money" begins now. this week chips are jumpin . yes, up nearly 6% of the sector. plus, it's electric. stops are charging higher again today. the ford deals and the road ahead to the industry. and tomorrow we are on the jobs report. goldilocks numbers. i am melissa lee and this is
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fast money. courtney garcia and cofounder of market we start off with a news report on twitter. elon musk's bid to buy the company is in peril as his camp decided they could not verify the social media platform spam account number. the wall street journal thing twitter laying off almost a third of its team. shares of twitter are down 4.25%. what you make of this? it seems like he was trying to back away from this deal for a while. >> without question. the ultimate tactic is certainly to do whatever it takes. first of all, he can't lose. he either wants to get out of the deal or drive the price down. he certainly knows he could've gotten this thing cheaper. listening to efficiency at a tech company and job cuts throughout the industry isn't terribly startling. also a company that has to reassess a lot of ways they
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have been making money. you know, this is part of that soap opera. i actually believe that -- i don't know whether he will get out of the deal. if there was no deal, i think twitter meanders somewhere around here and gets to a place where the stock actually starts to rally. this is a company that a year ago -- and remember, i talked about this all the time. at him yesterday, they said they were doubling revenues and they would get up to the investor community had to upgrade their outlooks on this. i don't think they get there. i think this process and the fact that there doesn't appear to be any other buyers for this is what is pushing the stock around. >> pete, did you sniff out the possibility when it comes to twitter options? >> no, i did not see anything. i was looking off to the side, so i apologize. i didn't see anything today that would indicate this, but when you're looking at twitter and obviously whether elon musk himself or even into the
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future, let's say he does drop out. what is going to happen to their ads when they start making the same kind of questions? how many bots do we have? how many fake accounts exist? all of those questions still need to be answered whether or not elon musk follows through with what he's going to do or not. i think it's a very interesting spot and that's the only reason i push back on why i don't necessarily see this stock starting to make any kind of move to the upside. i think that is something we have only talked about. we have never really defined it and i think right now we have been highlighted to it by elon musk as a strategy that he has been using as of late. >> considering there was a bid for twitter, and never closed the gap. it never sounded like this deal what happened. let's say he walks away. doesn't twitter go a significantly lower from here knowing that there isn't a buyer out there for this company? does it meander because it has
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been trading like that the whole time? >> it will be trading a lot lower than has been previously and realistically i think it's a good point. questions have to be answered. he's backing out because there are too many subscribers that will affect their ad revenue. that could be an out is at the end of the day. i wouldn't be chasing it by any means regardless of what's happening or not. i'm really not chasing it at the moment. >> i think you made a good point. never traded like this deal was going to close. it was around 5320 or so. does that sound about right? it was about $50? >> $55.30. you never saw the continuation, particularly the deal type of trades. that is a very small margin that is leveraged. in terms of
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the types of trades that get behind putting on deal names, you never saw that kind of activity. with that said, the general macroeconomic environment and general market trading environment doesn't lend itself to me seeing a real catalyst for this stock here, but i don't see any risk to twitter that hasn't already been kind of unearthed with this whole elon musk deal. >> that is where i think you go with this. look, he traded up for six weeks. let's be clear. >> did we not know there were bots at twitter? come on. >> when we talked with analysts right afterwards and in terms of when elon musk talked about how many bots there were, i was like, isn't it disturbing that we never really had a handle in the model? he never had a firm number in how many fake accounts there were in your building this model on revenue based on -- i don't know, a number you are guessing on. >> the community acknowledges the plus or minus.
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more importantly, the numbers end up on the revenue side. you get what you get and there has been frustration for a long time. pricing only started squawking about it and it trades back to where it was. twitter has traded like a multiple tech stock to a lot of the high multiple tech stock's. give or take the steps downgrade and their warning on their outlook. we have to get to a place for twitter who is a company who, remember, there is plenty of time for companies. we talked about who would be a great fit to buy twitter and no one has stepped up. it is not like there is no new news on this. why should the stock traded through the floor that it was a musty believe they have to trade linearly to where the nasdaq has moved? the nasdaq from the time it was $35 stock, it's probably down 10% or 15% and has rallied back 10%, by the way, in the last 13
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days. if you think twitter will track nasdaq's move, i don't see why you have to take this significantly lower to where the deal right now is not priced in this stock. >> i'm glad you mentioned it trades like a multiple stock because that is how tesla trades and that is the other dynamic in the whole thing because you overlay the charts and it's fairly similar. that is when multiple stocks fight and the decline was afterwards, pete, that is the other dynamic. where is tesla's shares? it is over $1000 or so. more than that when this deal was announced. here we are today. a lot has changed for elon musk. >> a lot has changed, but remember this too. remember he had to start getting cash to be able to do part of this deal, right? how did he get that cash? he is selling tesla. i mean, those are the other side of the trade as well. he was able to get out of it,
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he loses $1 billion. that is the exact number. think about the money when he sold the stock. i believe it was around 900, up to $1000 a share to generate the cash he could buy that back down here in the 700s and all of a sudden he's got a good trade there as well. he is on his a game and i think this will be really interesting to see how this whole thing unfolds. i still think when you look at the numbers, there isn't a single analyst out there who questions the size of the box they have. when elon did, the numbers were far different than anyone thought and because of that, i think that's why a lot of analysts will have to back off and say do you know what? we were valuing this company at this because we didn't think they had that percentage of their folks that are there caught up in the bot world. >> that is fair. i think ultimately for twitter,
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it has been a story of revenue and a story of a growing net revenue line and figuring out how they will monetize the live stuff, interactive stuff. that is what we have been waiting for. it is just the actual number of users or the number of bots is imputed upon whatever number we have. the numbers we have are where the frustration is within the platform. you are right, there is no question that has been an issue. >> pete raises an interesting point. the ultimate question for elon musk is would you go ahead and buy twitter here, or by tesla here? >> would you rather for elon? >> ultimately that is what it boils down to, right? in this moment and time, what is the upside? what would you say? >> can i alter that a little bit? >> i am not coming for your vacation. >> if it is a would you rather buy twitter and save $1
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billion, or what i rather bite tesla and have to spend an additional $1 billion, if that is the case, i would go ahead and buy twitter. >> you would? >> yes, i would. >> how about simply investors? >> twitter or tesla? >> for me, it is twitter all day long. i can't stomach tesla. we are in a difficult environment. i think the story is a very exciting one. there are carmakers i would rather own. >> you can see the road ahead for tesla in terms of the shared gains and the new factories spirit. we don't know what the road ahead is for twitter on the things we are waiting for and waiting for. >> there is no good news. to me, this is a would you rather. as a company, we have
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questioned the box and we have determined there are no other buyers for it in the high market selloff. by the way, later on in the show, we are going to start talking about how high multiple tech is starting to rally. twitter all day long. >> courtney, what would you say? >> i have to agree here. i have to do a would you rather. i think tesla is just so expensive right now and i don't know how much we can justify that especially when you compare it to ford or gm where it is significantly cheaper. not that i would necessarily buy on twitter, but i would go for twitter. >> i feel like pete might be the detractor. >> he started this. >> i absolutely would by tesla over twitter, if that is where we have gotten this whittled down to. i would absolutely go with tesla and i'll tell you what. well, they are pricey and expensive and all of those different things. that's been true the last five years.
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this is a company that has been touted as it is innovative. it got all of this data. it got all of this stuff. it's a computer on wheels. all of this stuff we already know. by the way, put that up against twitter's balance sheet. i would take tesla any day of the week. all right, let's move on. 4.6%, its biggest gain since mid-may and take a look at this. they have out performed by nearly 4 percentage points. the chips were underperforming and that is a bad sign for the economy, so now what? this is got to be a good sign. >> don't look now, but you have had outperformance over the last five weeks and you now have some eyes that were drastically underperforming and were down 4% to the snp which has had a good couple of days as well. i think you get to a place where you go out and buy.
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i am telling you as a folks watching the market, this is very encouraging. you have a place you are very oversold and in fact, you can look and say 220. have you not broken this down? that is what we do on the show. to the extent of semi conductors, we had an announcement by samsung today which was a catalyst to today's rally. it has been a performance of 4% over three sessions. was up 4.6% today. today they rallied on one of the biggest and most important semi conductor companies in the world especially across those put into smart phones and again a read into maybe even apple and some of the folks. this was a relief announcement by samsung and what it did for the folks that are really in the foundry space. gave everybody a boost. have semis to this point priced and more of a contraction and the cycle should have at this
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point? that is what the market is told over the last few days. >> before samsung announcement today, they were taking estimates and said at this point, maybe we factor that in and people are looking at the worst-case scenario. we are seeing all of these other data points indicating it is not so bad. >> well, tim, i think you used the word commoditized. at various points along the infrastructure. micron is one of the more monetized names. that might actually give you a bit more insight into economically where we are, right? that is less specialized. i will say and i don't want to sound -- amc was one of the leaders today. this market is absolutely confused. i don't think it matters. not at all. all great points that you made,
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but i think it is insignificant. the stuff you hated yesterday, you love today. the stuff people hated a week ago is now loved today. whether it be energy, i think this market really can't make up its mind and it is really that oscillation between under and outperformance that gives me more concern. there is literally no follow-through. we talk about this with twitter and the deal on the charts and people not getting involved. i don't see follow-through in leadership and until i see that, it's hard for me. >> it's great to have the perspective of thing look, i have walked back to the market with fresh eyes and i don't see a lot different fundamentally but when i hear samsung say they are working on this ahead of time, that is company specific. everybody knows and we've got and guidance within the sector the last few weeks of june were really ugly for a lot of places. they basically pointed out the data center and smart phones and memory are in decent shape.
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not awful shape. that is fundamental news in a market that has been oversold and that is really where we are going into the second quarter. we are throwing around the macro policy and looking for the companies to tell us what's going on. i do think it's not getting better in the short term. i'm not here to say i am here for semi conductors. i'm watching it and yes, it's notable. i think they were overdone in the downside for the rest of the market. >> is it any sort of indicator for when it comes to the economy? we take a look at semis in their past. >> right, and i think people are getting more comfortable, at least for the moment, talking about things going on with inflation. all of those different commodities obviously, right? that is part of the story but before we get too excited about
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it, and i say this is a guy that is overloaded with semi conductor exposure right now. i think the reality is we have round-trip from exactly where we were a week ago. we've gone from 207 to 207 on the smh. a month ago, it was 241. we've got to keep some perspective on what's really going on but have we started the turn? i can tell you this. very, very short-term stuff, absolutely, mel. i think it is a time to be very aggressive but with being very, very smart as well because i don't know necessarily that we are out of the woods just yet but we are certainly steel still near the lows. you need to be very, very careful in planning what stocks you want to buy going forward. >> nearly a third of value lost this year. the next guest says it will take earning season to settle things down. let's bring in stacy, managing director. great to have you
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with us. i feel like you had a lot of different data points from various makers so far. are there any linchpins in early-season that you will be really listening to in terms of setting the stage for a real semi rebound? >> right now there things that are in the consumer space. especially android smart phones in china and televisions. those have been weak. enterprise spending has struggled, although many were there waiting for the next shoe to drop but at this point, it seems pretty good. automotive has been strong, although there are concerns about sustainability. there are shortages in that space. people are going to be looking at the consumer side and to see what those players say. we will see through the rest of the space. >> do you think that a lot of
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experts will have to come down for your space? >> i think investors want to see estimates come down. they have been down to 35 to 40% since the beginning of the year. the multiples have come down 35 to 40%. one silver lining, the typical is 30 to 35%. we are at that much, maybe more than we typically see. in fact, look at earnings cut in half. the stuff today is higher than it was the day before they reported because they took a nice big whack to those numbers and investors can get a little more comfortable. this is normal behavior. multiples come down and investors look for earnings to come down and maybe they feel more comfortable.
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as it turns out typically the best time to buy this stock is after number start coming down but if you could be perfect about it, three months before the estimates bottom. the worst time is when numbers come down which is why investors want to see cuts but typically they don't want to do anything until they see e cuts. >> courtney here. i have a question. one of the things we are looking at too is inventory picking up which could be seeing demand deteriorates. is that something you have a concern about? >> i do. we started turning cautious in september. by the way, that was actually my worry. it was inventory and double ordering and apparent over shipping well into their end markets. pcs, automotive and industrial. when you look at the semi shipments, those have a very sizable gap and it's been there for a while. demand has been so strong.
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we don't know how much demand has been real and how much is phantom and we will not know that until supply and demand normalizes and we see where things sell out. now you have issues on top of he multiples will pull back in. >> stacy, thanks. we appreciate your time. >> he notably said in his notes to us he would not own intel. i think his point is there are probably companies that have more drivers. even a company which was my favorite last night, some of the external headwinds but also 5g and you have alleviated the apple dynamics and some of the
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things that kept this range bound or underperforming and at times, you get a multiple relative to its peers and itself. you can see the multiple contraction that has exceeded where we are in the cycle. coming up, ev's for all? after the break, a mass appeal is yearswa ay. that story is just ahead. but first, shares of game stop dropping. stocks when fast money returns. and you are? i'm an invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. another busy day? of course - you're a cio in 2022. but you're ready. because you've got the next generation
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welcome back to fast money. gamestop shares dropping after news the cfo is leaving. they're planning to lay off employees across the company. the stock has given back almost all of its gains in the regular session which is made on the back of an announcement of a stock split. interesting timing, announcing the stock split, the stock rises, and the cfo is out the next day. >> it is amazing timing. absolutely amazing timing. i don't know if you would want to flip those around or not.
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i'm not sure which is better to have first but it's interesting to see. we know these stocks have been crazy and they continue to be crazy, mel. they attracted not a lot of players as well. they certainly do provide a lot of fireworks and we are seeing some of that right now. in the meantime costco out with sales numbers. nasdaq up 20% from last year. levi strauss shares jumping after reaffirming full-year guidance. for more on what those reports say, let's get to courtney reagan. i guess the consumer loves denim these days, courtney. >> loves denim and loves shopping. cosco having a big june. up 18% globally. comparable sales in that region here up more han 21%. if you struck out gasoline, still increased 13%. e-commerce, up more than 8%.
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again, this is for the month of june. shares are relatively flat. costco shares up 5% in a month. now it levi strauss did beat the consensus estimates for profits and sales reaffirming its guidance just as it did last quarter. outlook assumes no significant worsening after the covid pandemic, inflationary pressure, or other currency impacts. the company says this is in line with expectations and our plan to build core inventory to mitigate supply chain risk and by the way, capture consumer demand. global revenue is up 16% year- over-year. wholesale up 15% year over year. levi knows a higher percentage of full priced sales and price increases which are a good thing for the company with an offset with higher products and costs. levi shares up on the results and have outperformed over the last three months, still down
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12% since the company's last report in april. melissa? >> courtney, thank you. courtney reagan. costo along with dollar general replaced walmart on the top list . that was another news item in retail today. courtney, which one do you like? >> it's interesting to look at costco because i think when you look at their renewals and getting customers to come back in the stores, they've done a really good job of that. in past times, we have had a recession and they continue to improve the renewals and the only pause there is our trading at a premium to some of their longer-term averages, but ultimately we go into this period in a slowing economy or we have inflation. they have a proposition to bring customers in and get prices. that puts you in a better position than some of the retailers. i think it might have opportunities. >> i agree. she pointed out what i was
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going to say in terms of the evaluation there. one thing that did stick out to me, i will say the gross market tends to be leaner. the value proposition here from operational efficiencies. i would like to see a bit more data before making a final decision. there is a lot more fast to come. here is what's coming up next. >> after being stuck in reverse, car stocks throwing it into overdrive this week. more gas in the tank? buckle up because former ford ceo says demand won't stall out here. he joins us next. and later as recession worries mount, all eyes on the big jobs report. what do our rng?ers want to hear tomorrow moin they will break it down ahead. you are watching fast money live from the nasdaq market site in times square. we are back right after this.
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welcome back to fast money. adding to its stake in petroleum, the company adding 700 million shares to its stak . excuse me, 12 million shares bought on tuesday and wednesday. they have under 84 million shares in total. well, what do you think of that, tim? >> it is not like he is chasing the trade. this is a guy that looks for moments of dislocation. remember, he always had a significant position. in fact, north of 15%. he has been buying aggressively. again, they have exposure to gas and areas that will remain strong. i think the way this company is
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run and his ability to feel confident in the management team is part of why they don't care. they want market full here. >> the terms under which is able to buy, if you go back and think of the way he was able to act to get exposure to companies without having to make margin calls, this is another fantastic, you know, strategic move and it really shows why he is who he is. >> let's switch gears here. lucid rallying another 9%. tesla showing strong upsides. legacy automakers seeing big gains. up 5% today followed by gm, honda, and toyota. our next guest is a cnbc contributor. mark, it's great to speak with you again. >> hi, melissa. >> the last time i spoke with you was just under a week ago
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and we were talking about the legacy automakers and in particular, ford. you are walking me through why you think automakers will actually do okay in the recession. can you walk me through that again? people are concerned about when they get the supply chain disruptions straightened out and they get the supply out there that the demand will no longer be there because of the downturn in the economy. >> i've been through three or four downturns. typically you have a good amount of inventory. you are spending a lot of money on incentives even before the downturn. in this downturn, whatever the incentive of the downturn, they have very different scenarios. you have two years of pent up demand where the industries have about 20% because of the supply chain and covid issues. that is the average decline you usually see in a recession in the auto industry. you could argue with the volume
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the client has already happene . you have pent up demand and yes, you have interest rates up and the consumer being stressed these days but that being said, even if there is lower level demand for the next 12 to 15 months, the industry has to restock itself. the industry has 1.1 million vehicles in stock. normally has 3 to 4 million at this time. even if demand is down, automakers will be producing and recognizing revenues for that because they have to restock because of the last couple of years and that is different than any other downturn the industry has faced. >> hey, mark. it's tim. you are mentioning the core combustion engine business that is something that needs to be valued more. maybe i'm putting words in your mouth but ultimately gm and ford are not given any credit for their core business and it almost seems that is the part of the business that yeah, our ev is great but it is fiscal to
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ramp up production in this environment right now and the core business they have is very strong. >> exactly. you are exactly right. the core business is extremely strong right now because of the limited inventory, they are doing a couple of things. first, they are sending a lot less money to support dealers in terms of what they call floor land which are interest rates that they get to hold for a short period of time. they don't have that anymore. going forward, as you have this limit in supply and demand, it will be very favorable for the internal combustion business. by the way, it provides profits for all of the investments that they are doing. >> mark, when you think about the profitability when it comes to -- let's just use ford as an example. it is converting its portfolio
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to ev. is there a mass number that the automaker needs to reach an order to make this a profitable venture if you assume they will remain somewhat elevated because the demand across the industry for limited supplies of metals is out there and will stay out there? >> well, the magic number moves around a lot and the reason why, melissa, is because of the input cost. lithium, graphite, those prices are high right now. the resources in terms of demand versus the expected production from automakers the next number of years is quite dislocated. as that price moves up, it moves the number that you mentioned around. keep in mind the auto industry is great at using the economy as a scale to drive down costs. they can't do that with these elements. they are what they are, the
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market price. they will have to look at other means, whether it is battery packs, motors to really drive a lot of scale to get the margins that they want. >> it sounds like the market has got to be higher if the cost will remain elevated as well. >> exactly. and the number keeps moving higher as you see costs up. >> market, it's always great to get your take and to speak with you. >> thank you. >> all right, pete, are you going to say tesla again? >> he is. >> no, i really like tesla. i really do, but lucid is a name that i think is getting a little more credit all the time and people are starting to look at this name a little more than they were six months going onto a year ago. when i look at that name and a tesla, ev space is the place to be. with oil trading near 100, over 100, that pushes more and more toward that ev space.
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that is why what tesla did with the deliveries and shanghai, we will see more and more of that. of course, ford and gm, they are chasing it right now but there are leaders in front right now. >> all right. i think you will see this push into electric vehicles, especially with the cost of oil. it will push demand that way. at a certain point, it's hard to justify the prices given the fact you are unprofitable right now. when we are in this kind of macroenvironment, those are the kind of companies i want to look at. i see ford or gm. tesla is trading in like 60 times earnings. this can be a way of getting our traditional -- i'm sorry, your traditional automotive and there. on top of that, you will get the electric vehicle, which is the future. you can shift that way instead of jumping in with two feet.
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welcome back to fast money. the wall street journal reporting that the fdic is looking into marketing claims made by voyager that customer found crypto purchases were safe and enjoyed by the fdic. days ago voyager suspended all trading and withdrawals including deposits stored at metropolitan commercial bank. pete, your company had a relationship with voyager. you are an investor with the company. you referred your customers to voyager to create accounts and in return you have received compensation. what has the reaction been among your customers? >> well, i think quite honestly as investors, not partners in this particular situation, it is frustrating. everyone woke up to the exact same kind of news the other day and no one had any kind of heads up or anything like that. it was an amazing slap in the face when we write about what
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was going on at voyager. obviously the loans that were put out there that were documented out there just really frustrating, mel. everyone would probably feel the same way. this was a pretty big sized investment of shares that i purchased personally as well as the company, so frustration is the first thing that comes to mind. it is something where we know what's going on in his crypto world and how frustrating it can be and unfortunately there is only so much i can comment on. this has been a really tough last couple of days for me, quite honestly. >> pete, this is straight from your website that i am pulling this from. market rebellion received compensation from voyager on each successful referral that establishes an account on the digital trading platform, so there was compensation. you were rewarded for getting your customers to voyager and establishing an account there. when you made that agreement,
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were you fully aware of the voyager in terms of its marketing claims and you must have felt at least decent, right? you wouldn't have to refer your customers there. >> yeah, i really can't comment too much on that, mel. other than to say the frustration and the results we are seeing now are beyond frustrating for all of us and even for myself in this particular case. this isn't just like other people. this is me being put in a position as well and it makes it very difficult. you don't always know the information. we know that as an investor in any company. we have faced other companies and have had to file for bankruptcy. this is something that we certainly were caught offguard and it was a complete surprise and shock. >> how does this make you feel about investing in crypto in general? does it make you much more cautious? >> yeah.
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i've been very cautious the whole time going into this before putting this investment into the crypto world. i understand the advocates over the years with crypto and bitcoin and all of the various names out there. you know, mel, as we are watching a lot of dominoes fall, it is frustrating and we are seeing a lot of this. when you see something that is a $68,000 value, to get underneath 20,000, it does make a pretty big statement that, you know, if you don't want to embrace volatility, this is probably a place to steer away from because there is certainly volatility there and a lot of unknowns. unfortunately in this particular case, just completely caught offguard. >> pete, thank you for that. coming up, what do our traders need to hear? they will break this down. but first, crude oil
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welcome back to fast money. crude oil spiking after an unexpected inventory build of
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8.3 million barrels. one option trader bedding one particular name can rise another 40% in the next few weeks. mike has got the action. mike? >> it is the name at the top of the list of companies you had there. four times more calls on nearly double the average call volume and a big trade was a purchase of the august call spread 3000 times. what that means is they were buying 3000 of the 40 calls selling 6000 of the august 50 calls obviously bedding they could recover above that 40 price by at least premium that they spend. you will notice what they are selling, very close to the june 7th highs of 51 39. this is often used for long stock but i think in this case, they might be making a bullish gas here. tce ike, thanks.
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cah thfull show tomorrow at 5:30 p.m. eastern time. coming up next, our reporters are eyeing data. what they are watching for next. fast money back right after this. wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim® web. because platforms this innovative aren't just made for traders -they're made by them. thinkorswim® by td ameritrade
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welcome back to fast money. we are counting down to the big employment report. 250,000 jobs were added in june and the unemployment rate held steady. what is the goldilocks scenario? what are the markets need to hear to continue the move higher? tim, what do you say? >> what is porridge, by the way? like, my porridge is just right. >> i always thought of it like oatmeal. >> the flavor i want for tomorrow, less wage pressure. the last number was .3% wage growth. i want to see something south of that. i want to see under 5% would be a home run. 150 to 250 on the payroll gains. we don't want this number to collapse but we don't want it to be stationary. i am definitely on record saying
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wage inflation is the worst part of it. >> i just want to find out, are we going to hear anything more about layoffs? will we hear more about slowdowns in hiring? i think the numbers will match pretty close to what we are expecting but i want to know a little more depth to what's going on in this report. where are we seeing things starting to change in a positive or negative way? it'll be very interesting to find some of those numbers and see where we are right now because we've heard about it in tech already as well as the real estate market. >> courtney? >> things are slowing but not flowing to the point where we are already in a recession. i am a little skeptical we will see that because you thought twice as many jobs in people who can fill them. one interesting thing we will watches the labor force for dissipation rate because if we have more people entering the labor market, that could bring down some of the wage pressure which could be the goldilocks scenario. >> seasonally we've got younger people entering the workforce this time of year so the wage number might be a little lighter than normal because of
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that. >> yeah, apparently i like my porridge like him like his porridge, which may not be at all. >> and you like short haircuts. >> [ laughter ] >> i think you want to see somewhat moderate growth. nothing too high. not too hot, not too cold. perfect for a boy with a short haircut. anything too slow and it looks like pressures are really unng. anything too hot only emboldens presumption that the fed is going to be more aggressive. >> all right. up next, final trade.
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time for the final trade. let's go around the board. pete? >> we talked about ev space. this is a really interesting name with a lot of option activity. >> t. the challenges have been well documented. in this environment, i know someone who knows what the problem is and has already addressed it. >> courtney? >> i think we have talked about how ev is your more traditional
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automaker. it is still a play in the long run. >> s&p up 1.5%. maybe a character change. one year ago, oih was probably at this level, oil was at 70 bucks. it is not linear, but it's aean rsoto buy it. >> thank mad money starts now. hey, i'm kramer. welcome to mad money. i'm trying to make some money. my job is not just to entertain you, so call me at 100 743 cnbc, or tweet me at jim cramer. at moments like these, it is easy to forget why we ever even liked technology stocks in t


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