Transcripts For CNBC Fast 20240704

On the names and what it could mean for the housing market. Im melissa lee. On the desk, tim seymour, julie bi beale. Nvidias hotly anticipated gtc conference and a fed meeting that could lay the groundwork for rate cuts and begin with nvidia. The chip standout developers event getting under way on monday. New product launches including a possible gpu for the Chinese Market and other updates that could sustain its massive run. Having a bumpy ride posting a small loss today up slightly since monday. For more on what to expect lets get to kristina partsinevelos. Godfather of a. I. Will take the stage. First event in five years with over 16,000 attendees flying in for two days. Every hotel in the city is sold out for miles. Trust me, i can attest to that. The share have been up 80 in the last three months alone. The stock moved over 2 . Eight out of the last ten trading session, even without any news as a catalyst. Someone has to wonder how much is already priced into the stock and what more can the company and ceo say over two hours to excite investors . Well, theres three themes that could do just that. The product road map for their plaquewell a. I. Chip, how good can the memory for that . Will it outperform amd . When will it actually be launched and is it really 30 higher than previous chips like the h100 so could that mean a price target of 40,000 for the chips. Secondly, how a. I. Adoption is growing at the enterprise level. Its been slow with most demand coming from hyper scalers that talk about the capex spending but enterprise demand is at the early inning so expect jensen to hype up other sectors and the list continues and inferencing which helps spit out answers to questions on trained large language models. The question is will that drive future demand since it already accounts for 40 of data center revenue. Will there be an update to the total Addressable Market as well. Last were expecting collaborations and partnerships with mike cnn, micron and oracle. Is the blackwell the successor to the h100. Theres h100, 200, the blackwell, yes, is the next step up in the architecture of the gpu, the Graphic Processing Unit so thats why theres so much focus on the chip because its expected to be much more powerful, have much stronger memory and thats where that collaboration with micron may come about. The problem is the price point is going to be a lot higher and then the power usage will be higher as well so well be looking for specs because it could dictate what happens to amd stock as well. Kristina partsinevelos on nvidia. A lot is riding on this in many way. Well, and for a stock when the rest of its peers in the semiconductors have started to pull back, nvidia is 3. 5 off its alltime high where the semis are off around 8 . But, yeah, the question is, what is priced in here, i think it is an exciting moment. Its absolutely both the keynote and the dynamics around nvidia showing off their full platform stack and that whole dynamic of accelerated compute across a number of really different, you know, Key Industries where theres omniverse or auto, i mean, all the obvious stuff and then the a. I. Foundry data center and places where i think people believe this is where youre really going to hear them focus and possibly show how much farther ahead they are than some of the competition. Thats what this comes down to at a time when we priced in a ton of good news. We know the Addressable Market or maybe we dont. But i think it almost does feel like the market needs to see something special. Its a prove me story with the valuations so high. I think theres argument around it. Valuation much higher. Im a proponent of nvidia. What i do question is how much of the news has already been priced in and i do think probably a little asymmetrically if they dont deliver but i do not put it past jensen huang to be able to get out here and sell the gospel of nvidia and talk about how much further ahead they are and what all the use cases are so i just think its going to be a prove me story and likely if you are waiting to get in and this it probably gives you an opportunity to get in. Jon fortten was talking about how there could be an interesting cameo that could stir up the excitement around nvidia once again. Whats the cameo . Im sorry. A cameo appearance like some rock star ceo, it could be i thought you were leaving me hanging there. If i knew you would have told me. Then it wouldnt have been a cliffhanger. Theres a case that it is cheaper than it was before anatomy sales. I dont know if valuation is stretched now or you think that maybe it could grow into it or its already expanded to the point where theres a lot more room to the upside for nvidia. I saw that this thing, depending on how you look at it, the stock could double and still be cheap. On price because sales are increasing at the same or i should say at a dramatic exponentially faster pace. There is a way to move. If you believe that. If you believe it, but i think kristina touched on it, the collaboration, hewlettpackard, oracle, micron, i think those stocks probably will have the ability to move more so than nvidia next week and thats what im interested in watching. A lot of the analysts that ive talked to leading up to this event, julie, have said they will focus on also selling nvidia as a stock not just a Hardware Company but also one that provides services, that is software that createsen ecosystem so theres a recurring revenue component instead of just double ordering. I think its critical when you look at Software Businesses versus hardware businesses Software Businesses have recurring revenue and not this high level of fixed cost. Nvidias margins, their operating margin is doubled in the last five years and so you have to think that theres enough capacitity being built right now for them in order to continue to double their business. If that revenue materially decelerates, it has a profound impact on their profitability the way a Software Business just doesnt have that kind of volatility so i think thats the one kind of case is you have this high level of fixed costs absorption you have to have in order to justify this valuation, and i think as long as demand holes in, its no problem, my concern is, its the demand is still pretty consolidated among their customer base, right, who can afford this chip. The more that they can broaden out their base of customer, the better and safer their businesses are over the long term so partnerships are key. Sell the news whatever the news may be, do we lose the market monday . Well, this could bring us into our market conversation because i think the market has some interesting cross currents that we got out of this week. Rates were higher, wide the worst week for bonds all year. We have a fed, we have dynamics around inflation, much stickier this week but back to nvidia, i think its important, having said that, you can make an argument and look across the nasdaq, nasdaq has sputtered for a month. Nasdaq is really done almost nothing in a month of which semis are a major part of that. You can see where the broadening of the market is happening at a time when, i dont know if semis have peaked for this short term. I continue to believe that until they stop making relative highs against the s p and even of the nasdaq, that i think the market is going to go higher but they are not solely responsible for the breadth in the market here, so the question is how many rabbits can nvidia continue to pull out of the hat . And if you think about what theyve already given the market at different times and this is not an earnings release, this is truly kind of a state of the union we just had a state of the union. But their Development Cycle may be faster than people think. Think this is a company far ahead of everybody. If you think there might be nothing tomorrow, or on monday, there might be something and, again, as kristina pointed out there is some incremental progress on the 200 chip. Some of the other dynamics. I think theyre going to give the market something, its just a question of what the market really wants to do with this but i dont think we need nvidia right now the way we might have felt like we needed them a month ago. I think you need microsoft. I think weve seen this week where microsoft sort of staved off a lot of the sell pressure on the qs and nvidias only about 6 of the qs. Not that microsoft is that much more but its 9 of the qs but its a lot of how you think about the overall market. Microsoft seems like a steady eddie if that. If the market lost microsoft for any extended period of time the market is in trouble. Id rather hold microsoft and have nvidia be volatile instead of the other way around. Chart master carter is here. What do you see . Well get right to it. Before the charts youre talking about how much nvidia will affect the market next week. Its important to point out that nvidias been down 5 out of the past 6 sessions. S p, identical. Five of the past six session answer the same session, qqq also, which is to say i think nvidia obviously has a lot to do with what the market is going to do on the daytoday basis coming ahead. Anyway, lets go right to the charts. There are three longterm charts and theyre identical and then one well wrap up with short term. The period in which effectively the stock went from 10 to a thousand. And now lets put some lines in. We have a welldefined internal trend line, literally we have come up against this line for the fourth or fifth time, just to sort of annotate that further, lets put arrows in. Youll see we are touching this line. Last week we touched it to the penny and thats where we got that massive backoff, that outside reversal day and so the question is, is it a big move to a difficult level, i think thats the case. Lets zero in final chart and this would be the here and now chart. Its that textbook breakout. The stock made no progress essentially trading at 500 for six months and at the beginning of the year it broke out from a welldefined formation and it doubled effectively going to a thousand. And i think you have price discovery here, whatever might be coming in the conference next week or whatever it is, can you have price recovery two out of ten years . Of course, not. No one can discount that. Has the doubling year to date discounted what lies ahead the next week or weeks ahead, month or two . I think, yes. All right, carter, thank you Carter Braxton worth and see you later on in the hour. Meantime, whats your reaction . Do you think weve seen 9 the bt of it. I think youll reach a period of good consolidation. Not that theres anything questioning the story but in the time frame that were speaking of, right, i dont expect that to tinge for the next week or couple of weeks. All right. And we should mention that jim cramer will sit down with jensen huang next week. Catch the first part live at 10 15 a. M. On tuesday and more with mad money at 6 00 on cnbc. Next weeks other big event, the fed decision. Markets keen to see how the central bank will digest the inflation report, all major indices down for the week. Both notching two straight weeks of losses for the First Time Since late october while the dow was down three weeks in a row. Tenyear yield hitting a more than twoweek high today so what should investors expect . Do you think that we are going to set up for a june cut or do you think the fed sort of moves that out . I think theyre going to continue to be posturing pretty vague because the data is a little bit mixed right now. Obviously, you know, the prints were hotter for ppi and cpi than we would like and it feels like its a little bit what they had warned about, which was, you know, we would make a lot of progress going from 9 , 10 down to 3 but that last percent seems to be pretty stubborn. Were getting it on goods but its in the Services Sector we continue to struggle to see any Real Progress and so i think that they want the flexibility to be able to stand pat here and stand pat for the early part of the summer, you know, i think, you know, we look at june, june starts to look different. I know people are talking about september rate cuts, but i think theyre going to be limited how much they can really do politically as far as rate cuts right before an election cycle. What do you think, tim . Still looking to june. Yeah, i think i am although weve obviously given ground on that. If you look at where weve seen a couple wall street housing in the last couple of days have to cut them into three cuts when theyre at four or five so this is a function of the calendar at this point. Its starting to compress. Less time left in the year and ppi as julie pointed out. Cpi, different parts but owners equivalent, rent, dynamics and on the pp side, its not easy. Retail sales was a little disappointing this week. There are people out there, bank of america, i have a ton of respect for, michael, using that stagflation term. If we have stagflation, even a little bit of it, youll continue to see the parts of the market that would respond. That would be gold and bitcoin but i think it would be energy and health care and i think there are parts of the market that actually have started to broke out, started to outperform and are going to continue to perform despite what the fed says. Julie is right. Theres not a whole lot they can give us right now and theyre going to hang in longer than they can. Not until we start to see restrictive policy again when rates are higher than the rate of inflation, so by, you know, by default it is restrictive right now, and we wont know 248 we know and that means its already happened. Right now the fed this week coming is kind of a nonevent. Futures markets have done a lot of the work for them. I think thats where tim left off, i think if you find that the data really starts to slip off the table, the fed has waited too long. So, they dont want to i think what everyone is waiting for is to really see something that says, they have to cut now. And youre not going to see that. Hes going to cut, hopefully, before that time period happens, so if you look at next week, i think hes going to tweak qt. Then i think hes going to cut before june because of the same thing that julie said. Hes so it will be an tra meeting cut. Cut rates prior to june. I think now youre going to see them tweak. The next meeting hes going to tweak qt then the next round of meetings hes going to cut before june. Thats what i believe. And for the reason why julie said, you purposely want to stay away from the election so i think he went out of his way to say we dont really need to see things fall off a cliff. We just need to see things moving in the general same direction and i dont think cpi or ppi, i dont think they really discontinued the same general movement. Youve become more dovish on the fed in i mean yeah. Your point is that youre significantly more dovish than where the market is. Ive always been and i havent seen anything to change my mind. As a meat of fact im more convinced on powells own words the last time that he was at those meetings, was at the post fed interview because when you think about what he said, he just said, we dont need to see something drastically improve, just the same general direction, it seems like hes setting it up so that he has more latitude. I agree hes setting it up so he has more latitude. I tend to agree a bit more with julie. I hear both of you in terms of political posturing and not wanting to see that will be a catalyst one way or another but i think kind of accelerating the time line still gives you that same problem where youre just trying to get the rate cuts out in front of the election cycle. I think if anything that would lead me to kind of lean towards you is the retail sales number because if we dont see anything there, you know, but you havent seen that followthrough in wages and havent seen the followthrough in terms of employment, so i still think that ppi and cpi number gives you a little more latitude to say, lets wait and make sure that theres followthrough before its pivoting. Now reaching more of a place of equilibrium and moved from march being all but a given out to now june being called into question. I dont know that june is so june is not a given. To be clear, im not im saying if anything we could miss june. Theres only a handful of inflation point, data points until we get to the june meeting based upon where the fed is meeting is scheduled so theyre not going to rush in too soon. If anything theyll rush in too late and that is always a problem, but thats what well get this time, not too soon, i think. Coming up japanese stocks on a tear but a big shakeup could be brewing ahead of next weeks pivotal central bank meeting. What it means for the worlds fourth largest economy. Bitcoin may be off record highs with surprising effects on an unexpected sector. The impact crypto is having on the electricity grid. Announcer this is fast money with melissa lee right he ocnren bc. Be anything. Left over . Yeah. Oh, absolutely. inner monologue my kids dont know what they want. You know who knows what she wants . Me with empower, we get all of our financial questions answered. So you dont have to worry. Empower. Whats next. Encore energy, americas clean energy company, now in production in south texas. Energizing america with reliable and affordable uranium for Nuclear Energy fuel from our environmentally friendly extraction process. Encore energy. Her uncles unhappy. Im sensing an underlying issue. Its tmobile. It started when we got him under a new plan. But then they unexpectedly unraveled their price lock guarantee. Which has made him, a bit. Unruly. You called yourself the uncarrier. You sing about price lock on those commercials. The price lock, the price lock. So, if you could change the price, change the name its not a lock, i know a lock. So how can we undo the damage . We could all unsubscribe and switch to xfinity. Their connection is unreal. And we could all unexperience this whole session. Okay, thats uncalled for. Money. Japans largest trade union saying workers in the country are set to receive their largest wage hike in 33 years. The unions saying its 7 million members are expected to get an average increase of 5. 28 , much higher than expected. The news comes ahead of a key bank of japan meeting next week where investors are watching whether the central bank will raise rates for the First Time Since 2007 and shift away from its negative Interest Rate policy, also giving up yield curve control. What do you think, tim . This is sort of widely speculated around this wage hike. It is. I think this first of all these numbers came in a lot hotter and i think they might wait until the april meeting. This is essentially were having conversations like this in the u. S. And theyre having them in japan. The first move is to actually get rigates back to even. Well formally stop ycc or yield curve control, and then finally, i think theyre going to have to communicate in terms of what theyre doing in buying of jgbs. It doesnt change the story of investing in japan where im overweight. Theres different places where i think you can get your exposure. Its possible, and, look, the yen will appreciate on the back of this. Think about wage numbers and consumption in japan and what low inflation in japan means at a time when theres been significant corporate reform, pressure on the companies to pay out, i think the Japanese Corporate sector from a Corporate Governance perspective hasnt looked this good in decades and i think you stay long. Its amazing. Its been eight years of negative Interest Rate policy in japan. Crazy. So thats why its like our fed. I dont think they can rush right in. You mentioned whether they buy jgbs and itfs and other risky ssets. Thats an interesting component of it, as well. I think a lot depends on their ability to drive better personal consumption internally starting to see that in the wage gains are really meaningful and have these large multinational businesses in japan that are benefiting from a very soft yen and able to do extremely well and theyre passing on wage increases, 14 i heard, 7 , thats very, very meaningful to the Consumer Confidence in that market and their ability to improve personal consumption, so it feels like it has the potential for a virtuous cycle. A lot depends on what happens with the yen. I think this definitely is positive for the catalyst or thesis around investing in japan. As you know, thats part of my acronym for this year, d. I. G. S. And pushes that followthrough there and julie mentioned the consumption. I think the wage growth needs to translate there in order for us to really see that theres a justification for us leaving this and there will be a natural background. Can we refresh d. I. G. S. . You want digi . Digi digs. Youre not digging my digs. What it stands for. Weve had a lot of fun with acronyms over the last couple of days. Digs is cool. Why should it be digi . I was looking for a refresh course. Poking the bear. We sure do. What do you make of this trade now. So, if you look at it, tim touched on what it does for the currency and in large portion, their market has been helped by their currency not appreciate yachting, so you would think just at face value unless they do what you said, unless theres etfs involved and theres a whole an array of things that theyll do around this rate hike, but youre still talking about drastically low rates in japan. Its been weighted forever so the people are angry that the wages were not increased but i could see this as being a top point for the market near term because obviously if the yen appreciates, its going to hurt exports, which will hurt eventually the market. How does that impact you know, its funny, biggest wage increase in 33 year, stock market is at a 33year high, as well. Yeah, steve is right. To the extent a stronger yen, japan is also its a consumption economy but, look, the heydays of japan they were an export economy. They were china before china was china and so i do think a stronger yen and the yen has been artificially absurdly weak. Weve seen, you know, in terms of terps like three standard deviation moves, it needs to come back in. The markets had such a great value and i think the consumption dynamics in addition to eps are things to own. A lot more fast money to come. Announcer electric trades from evs to bitcoin. The Nations Energy infrastructure is under high demand. Well shed light on how to trade the sectors that could be most impacted. Plus, a double dose of options action, the chart master and the professor lay out ways to play two big earnings reports next week. How you can be primed for profits no matter which way results go. Youre watching fast money live from the nasdaq marketsite in times square. Were back right after this. el fashion moves fast. Setting trends is our business. We need to scale with customer demand. In real time. jen so we partner with verizon. Their solution for us . A private 5g network. ella we now get more control of production, efficiencies, and greater agility. marquis with a custom private 5g network. Our customers get what they want, when they want it. jen now were even smarter and ready for whats next. vo achieve enterprise intelligence. Its your vision, its your verizon. Hey you, with the small business. Whoa. Youve got all kinds of bright ideas, that your customers need to know about. Constant contact makes it easy. With everything from managing your social posts, and events, to email and sms marketing. Constant contact delivers all the tools you need to help your business grow. Get started today at constantcontact. Com constant contact. Helping the small stand tall. Welcome back. Demand for electricity on the rise for the first time in decades. The reasons might surprise you. The New York Times reporting that a surge in Bitcoin Mining and ironically the demand from the battery and solar factories central to the Clean Energy Movement are racking up electricity use across the country and could threaten u. S. Climate goals. Steve, what does this mean in terms of, i mean i think weve all talked about it, right . When you set these guidelines and i get it, an administration has to sort of whiteboard and throw numbers out there but when you say that youre going to be off the ice engine, internal Combustion Engine and when you say youll be off that by 2035, or whatever the number is, and you expect everyone to follow suit. The problem is people start following suit so ford and gm started stumbling over themselves so you wind up creating unintended consequences where the infrastructure, the grid is not ready and prepared for the strains that we put on it. So you have to really sort of wait till things catch up. The only solution now, theres got to be an all of the above, nat gas, fossil fuel, coal, everything and the true thing, the only thing that is Carbon Neutral is nuclear and nuclear when somebody says that, you say, not in my backyard. I dont want to build another plant. It takes six to eight years to build another plant. Thats the problem. If they want to build a lot of plants quickly its not going to be alternative Energy Plants for sure. Those take much longer in terms of personaling and the supply chain, et cetera. Theyll be building gas plants. I think fossil fueled, you know, electricity, utilities will be a big part of coming up with the Energy Demand growing 5 , 6 per year and based on ev and the need to upgrade the grid, i think all this says you want to buy integrated miners. The copper demand, more demand on copper, whether coke and coal or other places where electric utilities are able to, you know, coalfired Electricity Generation is increasing. Its not what we want and theres certain parts. The world where it happens. I think the trade ultimately out of this is, look, i love nuclear. Im very long in that sector. I have been for a long time and that is one of those things. It doesnt happen overnight nor did it seem like the trade would, although at points in this year and in the last three to six months weve gotten headlines coming out of nuclear that are very, very impressive. Yeah, julie, where is your trade here . My favorite trade is, you know, a million years ago i used to work for the municipality of los angeles and i worked a lot with the utility here and you would be shocked how much the municipal grid is really held together with bandaids. Literally. Would we . It is so underinvested in and a lot of policymakers wanted to feed in tariff in los angeles and had german specialists who had done their own said do not do this. It will break your grid like you will not believe. So thats the problem is when you have policy that doesnt actually get informed by the practicality of it, company i like is aspen technologies. They have great grid Optimization Software that will be really successful. Thats azpn. Yeah, i think Constellation Energy is another strong performer. Another dark horse is nat gas. Its been a laggard across the commodity complex. This might actually be the type of catalyst it needs to get some foothold. A double dose of options action, the chart master and professor khouw and a major buzzkill for zillow after a decision that could change the home buying market as we know it. Well tackle the fallout right after this. Announcer missed a moment of fast, catch us on the go and follow the fast money podcast. Were back right after this. At Ameriprise Financial our advice is personalized based on your goals, whatever they may be. All that planning has paid off. Looks like you can make this work. We can make this work. And the feeling of confidence that comes from our advice. I can make this work. That seems to be universal. I can make this work. I can make this work. No wonder more than 9 out of 10 clients are likely to recommend us. Because advice worth listening to is advice worth talking about. Ameriprise financial. Rylee from rylees realty hi this listing sounds incredible. Lets check it out. Says here it gets plenty of light. And this must be the ocean view . Of aruba . Huh. This listing is misleading. Well, when at t says we give businesses get our best deal, on the iphone 15 pro made with titanium. We mean it. Amazing. All my agents want it. Says here. inviting pool. Come on over too inviting. Only at t gives businesses our best deals on any iphone. Get iphone 15 pro on us. money. Earnings season is winding down but a handful of names reporting next week caught our eyes and lets lay out what we expect in nike with the og options action crew. Carter worth is back to lay out the key levels and mike khouw has the trade so lets get to nike now. Carter, what do you see in the charts . Yeah, sure, lets just pull up one chart. I mean, this doesnt act well, the last Quarterly Report stock dropped 12 . You see the gap there and threatening to breach the lower band of these converging trend lines. I dont like it. Im a seller. All right. Thats straightforward. Mike, whats the trade off that . Yeah, i mean, look, nike is trading at a slight discount to its historical valuation but they had given us pretty grimlooking picture back in december and that was confirmed i think by foot lockers results so 23 1 2 types earnings is fine if the company is growing but expectation is theyre not going to on the top line, so i think actually the way to play this considering the fact the stock is already down over 8 year to date and you sort of are pressing that bearish bet is to use a short dated put spread which expires at the end of this coming week would be one way to make that bearish play by only risking a small percentage of the current stock price. Thats going to cost you a little less than 2. 40 a share to put that trade on. All right, lets move on to fedex also reporting thursday. Carter, what do you see in the charts . Sure, so almost an identical reaction to its Earnings Results last year and you can see the drop in gap in the chart, exactly what nike did so we have another circumstance where stock is exhibiting bearish price volume correlation and very poor relative strength to the market. More of a pair of 2s less clear but if one has to be directional im a seller. Well, thats more optimistic than i dont like it, sell it. [ laughter ] mike. Whats the trade is. Yeah, i mean, this is an interesting situation, right, because we have sort of a bad backdrop for them fundamentally, but then on the other side, trading 14 1 2 times earnings you kind of figure that some people, bargain hunters will step in. I would caution them against doing that. We are looking at a nearly 7 implied move in the stock and i think the way you want to play this is actually with a calendar spread looking at the march 28th weekly may 250 calendar put spread, selling the shorter dated one and quite surprise will go i the short dated put covers the bulk of that longer dated put purchase so you will see it within this range and if the news turns out to be somewhat negative thereafter you get to own that at quite a discount. All right. Tim, youve trafficked in both names. What do you nike, for all its best in class and this is for carter and mike, the stock has done nothing since precovid. Having said that its had a couple big runs. From foot locker a few weeks ago is interesting, 60 of their sales, may give you some sense of the nike margin. I think between u. S. And china dynamics, the wholesale channel something to be worried about with nike. Even though the secular trends in health and wellness and even in ink know vegas in sneakers, you know, i like it long term, but i dont love it here. Which trade do you like. Ill follow through on nike. I like the nike trade. Ill cover from the options standpoint. I think if you press a short and it has had a precipitous fall do it through options versus running a risk of having to go cover. Yeah. Can you imagine if we asked carter what he thought of underarmours chart. That would be a horrendous result. We actually can. I mean, hes here. Look how many boxes are up there. Is this a record . No, i mean, no, theres been eight in the past. Weve boxed up more than that. Carter. Yeah. I mean, what do you think of under armours chart. One of the first rules is if it is in a down trend jem be cautious. Up trend generally be optimistic. Under armour, talk about not performing well, you know, the burden of proof is on the bull. The bear has to point to look at the mess weve got. Carter has such a nice way of making a question sound absolutely stupid. Sounds like a pair of 2s. [ laughter ] julie, do you think fedex is in any way, shape, or form a bargain . No. I think a lot of the dynamics around them, theres so much uncertainty you interest to take on whether its what is going on with their Postal Service contract, their pilots union. Its just to me its one of those really messy cases that you knew in college and youd rather not be friends with. All right. Carter and mike, nice to get the band back together sometimes. Thank you. You bet. Carter braxton worth and mike khouw. A real estate reality check, a key ruling sending property stocks like zillow, and redfin dropping into todays session. The trade straight ahead. Later, courting new bettors as march madness kicks off. Well dive into the surge in female Fan Engagement which games are gettinthe stg mo attention. Were fast money right after this. Go. And go and go and go. tense music but what if you. tense music stop you work hard. Its time for a bank thatll work hard for you. Everbank performance savings is built to put your money to work with some of the highest rates in the country. Going, thats what got you where you want to be. Were the partners for your next move. Everbank. Advantage, you. vo what does it mean to be rich . Maybe rich is less about reaching a magic number. And more about discovering magic. Rich is being able to keep your loved ones close. And also send them away. Rich is living life your way. And having someone who can help you get there. The key to being rich is knowing what counts. Welcome back to fast money. We have a market flash on hashicorp. Shares jumping in the after hours and Julia Boorstin has details. They are said to weigh a potential sale and shares up 11 1 2 on this report. Before this move, the stock was up 12 year to date. It was about flat over the past 12 months but we see it really popping higher in after hours on that bloomberg report. Over to you. Julia, thanks. Julia boorstin. Meantime, a landmark settlement from the National Association of realtors sending shares of zillow and redfin and compass falling. They eliminated the standard Broker Commission to home sellers, often as much as 6 and pay 418 million over the next four years to end litigation. It could significantly reduce costs to buy and sell a home. Great for the parties involved in terms of the home but not for these guys. What do you think . Yeah, look, i think when youre in a zillow situation, youre a very high margin business and this hurts you a lot less. You can make an argument the operational leverage in the business is taking a huge hit here. Lets see how the industry responds. The white house is throwing everything they can. Theres all types of ways to try to stimulate the housing market. I kind of like zillow here frankly, i dont think you need to chase it. Valuation not terrible and got through the assetheavy part of the business. Enough to stimulate the market. I dont know if its enough to stimulate the market but i would assume that it stabilizes the home values, because wherever that money comes from winds up going back to the other side of the equation. I think that 6 is without getting provocative, i think it was probably an egregious amount of money. I wondered what you were going to actually say. If we go back if we go provocative could mean a lot of thing, not just high commissions. Remember the guys running around the floor, i was one of them on the floor, the amount of commissions we used to charge was an exorbitant amount of money and the market and electronics and Technology Catches up with it so i think its just catching up with the market. Steve just said he was overpaid early in his career. Overpaid. Probably overpaid now. Wow. All right. Coming up, catching fire today and the headlines that have these names lighting up. Fast money is back in two. upbeat music constant contacts advanced automation lets you send the right message at the right time, every time. constant contact. Helping the small stand tall. Trulieve. You can make money the hard way as a bullfighter or a human cannonball. Or save money the easy way, with xfinity mobile. Existing customers can get a free line of our most popular unlimited plan for a year not only will you save hundreds but youll also be joining millions who have connected to americas most reliable 5g network. Sure is a lot safer than becoming a stuntman for money. Get a free line of unlimited intro for a year when you buy one unlimited line. Visit xfinitymobile. Com today to learn more. Welcome back to fast money. March madness kicks off this weekend with selection sunday and Sports Betting companies are prepping for one of the busiest parts of their season. This year Womens College basketball is drawing particular interest. What is behind this trend and who is behind the betting . Lets get to cnbcs Contessa Brewer for the details. Thats me. March madness kicks off with selection sunday and Womens College basketball like womens sports more broadly is surging in Fan Engagement and viewership and Sports Betting. Draft kings told us the amount wagered or handle on womens sports has roughly quadrupleed in the last three years. Even though women gamble and casinos and online in roughly the same percentages as men, when it comes to wagering on sports american men far outnumber the women, by 95 according to a 2023 Research Report. The American Gaming Association says that number has grown. It estimates 26 of u. S. Sports bettors are women. Penn entertainment spent billions ditching that barstool brand with its bad boy locker room humor and relaunching as espn bet and in fewer than two months penn boasted 35 more women in its digital database than in the same time period the previous year. Bet mgm says this year a 51 increase in the number of female betters wagering on the super bowl and why do you that is, melissa . Why . There was a super bowl romance story and it drove female engagement but heres the thing, just because they try it doesnt mean theyll stay. So its up to the apps and the sp sportsbooks to create a product women like. That Research Report, the 2023 Research Report you cited do they have information on whether women were better bettors. Than men, because women as you know tend to be thought of as being less risk averse, and more careful with their, say, investments. Weve seen similarities there where it says that women say theyre more comfortable with investing when they have more knowledge and, in fact, we just saw a recent Research Report that showed Something Like 20 of women said, yeah, i know what im doing and the rest said maybe not so much so thats another key, how do you educate more women investors and women betters about the product so that they feel confident. I thought maybe women might win more money because they dont make dumb bets. Ooh. Oh, wow. What if i had said that, steve . Women made dumb bets . Im not going to go near that. Contessa, thank you. Sure. Contessa betting brewer. Ju julie biel, will you wager on anything . I agree it is up to the sportsbooks to make the experience a positive one and i agree, you know, studies have shown women are better investors because theyre betting at cutting losses and typically better at holding winners, so super sorry about that, guys. Betting on caitlin clark. Shes amazing. Bet on her. Sure. Come on. You were saying that. You said it to me. Meantime, cannabis stocks on fire amid hope the Drug Enforcement Administration May soon reschedule marijuana as a less dangerous drug. Stops jumping higher after Vice President Kamala Harris urged the dea to work quickly to review the drugs classification, so, tim, pot king, we got to go to you. As quickly as possible she said and so within the Cannabis Community this is the whole point that the Biden Administration has the ability to control every step of this process. This does not require legislative dynamics so what this means in terms of profitable, the punitive taxation about being scheduled as a drug similar to heroin and, you know, its absurd, those are her word, by the way. Its interesting to note also that, you know, at a time when weve seen, im not comparing the two industries but think about the influx into crypto and into what you have seen with bitcoin, if you get the institutional world able to invest in cannabis, i think its a game changer. There is a whole wall of capital. This is still a Retail Market and would change a lot of it. Doesnt change the legality but would allow i think a lot more of thesecans to have the type of influgs that i think the companies that are trading on the tsx, curaleaf outperformed. Those companies that are places where institutions trade more about better. Its secret to think about with what weve seen going on with crypto assets. I think were relatively close and have had so many head fakes in cannabis, but, again, if the administration wants this to happen, biden appointed the dea. If hes urging this, i think it happens. Ist is an Election Year and always a hot button topic. The problem to tims point, i agree with almost all of it. The problem is the black market where its the illicit drug market that is pulling people away. If youre not going to prosecute for crimes where its individuals that are smoking pot, then theres no reason i mean were in times square. I get off the s train, you smell it and its not coming from any store. So, thats the problem they need to crack down on to make these stocks actually flourish more. Black market is the biggest competition. They said that about Sports Betting. The illicit market. Say that about Sports Betting too and that industry is steve is right. Look at new york city. Theyve got to get their act together and over the last couple of days theres been a lot here. I ido think the illicit market s a big deal. Up next, final trades. Best thing ive ever done. Thats what freddie told me. It was the best thing ive ever done, and really . Yes, without a doubt i dont have any anxiety about money anymore. Great people. Different people, thats for sure, and all of them had Different Reasons for getting a reverse mortgage, but you know what, they all felt the same about two things they all loved their home, and they all wanted to stay in that home. And they all wanted to stay in that home. [announcer] if youre 62 or older and own your home, you could access your equity to improve your lifestyle. A reverse Mortgage Loan eliminates your monthly mortgage payments and puts taxfree cash in your pocket. Call the number on your screen. Why dont you call aag. And find out what a reverse mortgage can mean for you . [announcer] call right now to receive your free noobligation info kit. Call the number on your screen. upbeat music with the push of a button, constant contacts ai tools help you know what to say, even when you dont. Hi constant contact. Helping the small stand tall. song in french book in the hotels. Com app to find your perfect somewhere. Final trade. Julie. I mentioned before aspen szpn for its grid technology. Tim . Rio, integrated miners. Had this whole chat. Bonawyn. Stock puts, tick up will be equity volatility. Steve. I own it now and i think its got a decent amount of upside. Thanks for watching nasa. Have a great weekend. My mission is simple, to make you money. Im here to level the Playing Field for all investors. I promise to help you, mad money starts now. Hey, im kramer, im just trying to make a little money, my job is to teach and we will do a lot of teaching tonight. You can call me or treat me jim cramer