Nvidia Rough Patch Ahead of Results… And Tesla’s Next Charge Higher 11/17/25

Summary

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CNBC Fast Money – Episode Summary

Episode: Nvidia Rough Patch Ahead of Results… And Tesla’s Next Charge Higher
Date: November 17, 2025
Host: Melissa Lee
Featured Panelists: Jim Cramer (guest), Tim Seymour, Bono, Dan Nathan, Guy Adami, Steve Kovach (correspondent), Stephen Giangaro (guest analyst), Carter Braxton Worth (Chartmaster)

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Overview

This episode of Fast Money is packed with expert insights on the market’s most-watched names and sectors, dominated by a breakdown of Nvidia’s stumble ahead of earnings, Tesla’s reenergized bull case, Apple’s looming leadership change, the “end of magical investing,” and the state of crypto. With a special in-studio appearance from Jim Cramer, the conversation delivers both forward-looking calls and sharp takes on today’s investing landscape.

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Key Segments & Insights

Market Recap & Nvidia in the Hot Seat

[00:50-09:10]

• Market Weakness: Stocks closed just off their lows, with the S&P at a one-month trough. Semis, financials, and energy were the laggards; Bitcoin also tumbled, dipping below $92,000 for the first time in months.
• Nvidia’s Underperformance: Nvidia’s share price is under serious pressure heading into Wednesday’s earnings, down 8% in November and $500 billion off its peak.

Jim Cramer’s Take:

“I’m actually thrilled it’s going down. I did not want to see it coming in hot... there is a need to have something be stable when it comes to the data center.” — Cramer [03:34]

Key Points:

• A correction sets up a healthier reset before earnings.
• The critical factor for Cramer: margin guidance, especially with the anticipated transition to Vera Rubin chips.

“If the margins are good and they’re ready to ship Vera Rubin... then you got to be in the stock.” — Cramer [05:08]

Panel Discussion:

• Dan Nathan probed Nvidia’s competitive threats, especially from AMD and OpenAI’s ties to that space.
• Tim Seymour noted scrutiny over tech’s free cash flow, especially with mega caps like Amazon raising debt.

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The "End of Magical Investing" Era & Speculative Mania

[09:10-13:54]

• Cramer’s Thesis: The days are over where profitless, high-beta companies can rally endlessly.

“It is the end of magical investing. The companies that have no revenues and no earnings... just can’t keep having those stocks go up.” — Cramer [09:15]

• Debate about quantum tech stocks, SPACs, and high-momentum trades (Rigetti, MP Materials).
• Cramer covered why young investors’ preference for speculative names is hard to break, worrying about a “lost generation” if they get wiped out.

“I don’t want them blown out. It’s important that they migrate... but the money isn’t made fast enough in the traditional companies that we talk about.” — Cramer [13:54]

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Institutional Investing, Data Center Wars & Competitive Landscape

[13:54-19:57]

• Mentions of Amazon’s mystery AI plans and the challenges facing Alphabet, Meta, and Microsoft in data center spending and B2B vs. B2C dynamics.
• Cramer stressed the risks around OpenAI’s outsized spending and dependency on constant user growth—a potential “Achilles heel” if momentum stalls.

Notable Exchange:

“Open air is the biggest danger...they keep coming with the fastest growing, fastest growing. I don’t like B2C. I like B2B.” — Cramer [16:51]

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Macro Risks: Japan, Currency, and Tesla’s "Teflon" Qualities

[19:57-21:09]

• Guy Adami asked about risks from Japanese currency movements.
• Cramer downplayed systemic risk but highlighted Tesla’s broad resilience:

“Tesla became Teflon. I don’t know how that happened.” — Cramer [21:09]

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Apple CEO Succession: The Next Era

[25:05-30:45]

[Key Segment: 25:05-30:45]

• Steve Kovach detailed Apple’s CEO succession plans. John Ternus (hardware chief) is widely seen as the leading candidate as Tim Cook (retirement age 65) may transition to Executive Chairman.
• Debate over whether Apple’s next phase requires a “product guy” or someone with a software/AI focus.

Panel Reflections:

• Dan Nathan noted Cook’s record and the complexity of stewarding a $4T company.
• Tim Seymour emphasized the primacy of Apple’s installed base and continuity in leadership, downplaying urgency for radical change.

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Tesla: RoboTaxi, FSD, and a New Bull Case

[32:30-38:40]

Guest: Stephen Giangaro (Stifel analyst) [32:54-36:18]:

• Stifel raised Tesla’s price target to $508, citing major progress in full self-driving (FSD) and the looming RoboTaxi business.
  • Valuation breakdown: $130 from core auto, $185 FSD, $160 RoboTaxi, $30 Optimus.
  • Acknowledges that Optimus is “pie in the sky”; valuation focuses mainly on FSD and RoboTaxi traction.

Panel Commentary:

• Bono praises the clarity in Stifel’s SoTP (sum-of-the-parts) methodology, but remains cautious on regulatory overhang.
• Dan Nathan:

“Stock is not going to be trading at all on deliveries...I’m done trying to poke holes in the story because [Musk]’s going to hit this pay package... have a ball, follow Ron Baron, follow Cathie Wood.” [37:10]

• General consensus: Tesla’s value now banks on tech platforms, not just EV delivery numbers.

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Notable Quotes & Memorable Moments

• Jim Cramer’s philosophy on Nvidia’s pullback:
  • “Let the hot money be afraid... then you got to be in the stock.” [05:08]
• On the end of speculative mania:
  • “We all want this generation to own good, common stocks...we don’t want them to necessarily buy stocks that have no chance of earnings.” [14:49]
• On the data center “wars”:
  • “Alphabet’s so dead safe... the J and J of the data centers.” [06:18]
• On Tesla’s resilience:
  • “Tesla became Teflon.” [21:09]
• On Apple’s succession:
  • “Product kind of feels like the right move, though, guys.” — Steve Kovach [27:18]

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Bitcoin & Crypto Technicals

[41:15-43:36]

• Chartmaster Carter Worth highlighted Bitcoin nearing a decade-old trendline (~$92,000). If it bounces, there could be upside, but a break could mean a major technical failure.
  • “This is a major trend line versus a minor or intermediate... a breach here does have major implications.” — Carter Worth [42:42]
• Tim Seymour pointed out irony that Bitcoin could break down just as institutional adoption grows.

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Fast Movers & Quick Hits

[39:57-end]

• Netflix: 10-for-1 stock split, but technicals show some weakness for the first time in a while.
• Home Depot: Bears watching into earnings. Panelists felt it was the safest way to play the housing/home improvement trade.
• Lithium, Pharma: Spikes and M&A chatter round out sector news.

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Timestamps for Key Segments

• Nvidia Earnings Setup: [03:34]-[06:18]
• “End of Magical Investing” Talk: [09:10]-[13:54]
• Apple CEO Succession: [25:05]-[30:45]
• Tesla/RoboTaxi Bull Case w/ Stifel: [32:54]-[36:18]
• Bitcoin Trendline Technicals: [41:15]-[43:36]

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Episode Tone & Final Thoughts

Fast Money’s trademark energy is bolstered by Jim Cramer’s irreverent wit and relentless candor. The episode pivots between strategy, skepticism, and meta-level concerns about market structure and retail behavior. The panel is largely constructive but sees the end of an era for momentum-chasing and “magical” growth stories. Fundamental narratives (Nvidia’s data center margins, Apple’s leadership, Tesla’s tech leap) are front and center for investors recalibrating for a changed landscape.

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Transcript

[Melissa Lee]

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[Melissa Lee]

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[Melissa Lee]

Live from the Nasdaq markets head in the heart of New York City's Times Square. This is Fast money. Here's what's on tap tonight. Nvidia on deck. The semi giant under pressure ahead of earnings and dragging the major indices down with it. Well, Wednesday's report gets the stock back on track along with the markets and back in rally mode. We'll debate that. Plus revving up. One top analyst sees Tesla shares surging from current levels. What will drive the gains? He'll lay out his case later this hour. Apple intensifies its search for Tim Cook's successor. Netflix gets chilled on day one of its stock split. And Bitcoin for bounce. The crypto trading at nearly seven month lows. But the chartmaster says it is about to change course. Carter Braxton work will join us for a look at the technicals. I'm Melissa Lee, County Lassen Studio B at the nasdaq. On the desk tonight, Tim Seymour, Bono and ice and Dan Nathan guy. And in a fast money.

[Guy Adami]

Come on, come on.

[Melissa Lee]

Pop him in the one.

[Jim Cramer]

Thank you. Thank you everyone. Thank you.

[Melissa Lee]

It's right here on the deck.

[Jim Cramer]

Thank you so much. Thank you. Booze.

[Melissa Lee]

Can you believe it's, I mean in the history of this show of mad money, you have never been here physically.

[Jim Cramer]

Teleportation, I think. Wednesday, Jen. Teleportation. So I'll make it a regular. I'll be a regular. Look out.

[Guy Adami]

If there's no Jim Cramer, by the.

[Melissa Lee]

Way, I think there wouldn't be.

[Guy Adami]

There's no fast money.

[Melissa Lee]

Absolutely.

[Guy Adami]

He is the groundbreaker and he's been in our camp since day one. So it's an honor to have you.

[Jim Cramer]

Well, your camp is a thoughtful, really terrific camp to be in. Thank you. And everybody who watches should understand while some people regard it as a trading show, some people regard it as investment show, I regard it as a thought leader show. I find myself watching it as much as I can while I'm doing my show because I got to know what you're saying, every one of you. Because you have different views too.

[Melissa Lee]

Yes, different views. It's great to have you, Jim.

[Jim Cramer]

Thank you.

[Melissa Lee]

And we do want to kick things off with a rough start to the week on Wall Street. Stocks giving up early gains to close just off their lowest levels of the day. Financials. Energy Tech among the worst performers today, helping push the S and P to its lowest close in over a month. Bitcoin, meanwhile, is seeing even bigger losses, dropping below the 92,000 mark for the first time since late April. It has now lost more than a quarter of its value since hitting an all time high just last month. Also sharply lower. Nvidia down about 2% today ahead of earnings Wednesday night. The semi giant has been stumbling recently, weighed down by fe years that valuations have come too far, too fast. The stock down nearly 8% in November, shedding 12% since hitting an all time high less than three weeks ago. So far this month, it's lagging all the major indices and its Mega Cap Mag 7 peers. And since spending a couple days with a market cap over $5 trillion, it's lost $500 billion in value, more than one ExxonMobil. So is this underperformance a healthy reset going into earnings? Just how much is at stake in Wednesday's report? Jim, let's kick it off with you.

[Jim Cramer]

Look, I'm actually thrilled it's going down. I did not want to see it coming hot. I think all of us know if it came in hot, then at the wrong money move in it. I do think that this is a quarter that is not. I don't think it's make or break, but there is a need to have something be stable when it comes to the data center. And Melissa, I've got to tell you, the data center is so hated, we're taking it to everything. I mean, today there was just a savage assault on blue. Al hey, who's blue? Blue's huge. I mean, but suddenly we discovered them. I don't know. Achilles heel of the market. We are overdoing everything. I think that the market was set up to go down by all the people who said November is you can't miss. It's going to be great. And unfortunately, video is going to be looked at as what I would say. There's a fort called Fort Zinder in the movie Beau Gest. It's the last bastion by the Foreign Legion. And they didn't hold, they didn't hold. So I feel like set up, we're set up to have people say that and you buy it Friday.

[Melissa Lee]

I mean, if you think about, if you're a rational thinking person, you think that the Nvidia story going into earnings has been somewhat de risk given the guidance they gave during gtc. I mean it's not, I don't know how many other sort of question marks there are in terms of orders.

[Guy Adami]

So we'll go back to Jim, I'll ask, I mean, you know more about this company than anybody maybe, but the founder. So I'll ask you the importance of not margins, but the guidance for margins. Because me, that's the crux of this whole thing. Price to earnings, reasonable price to sales, not reasonable. Margins deteriorate, that price to earnings doesn't look as good.

[Jim Cramer]

And that's why I don't think you want to buy the first trade if it's down so you can send it lower. Because it's all about the transition from the Grace Blackwell to the Vera Rubin. Now if you remember last year, we thought that transition was going to go well to the Grace Blackwell and it did not. And the margins went way down. I'm my indication is Vera Rubin is going to be seamless. That means the margins can actually stable and then go up. That would be, that would be a godsend for Nvidia, which is why let the hot money be afraid. If the margins are good and they're ready to ship Vera Rubin, which remember, is the chip that makes it so you can reason, then you got to be in the stock.

[Dan Nathan]

All right, so Jim, you know, over the last few weeks we got this GTC DC and the guidance, it was big, right? And was the thing that kind of caused the stock to break out to new all time highs. But all of a sudden, right, Nvidia is this big investor in OpenAI. OpenAI gives this huge order to AMD, right? We have Marvell and Broadcom making chips for Nvidia's.

[Melissa Lee]

Right.

[Dan Nathan]

His customers. When do you think this competition is going to start putting a little bit of a dent or at least the trajectory of Nvidia's upside? And you know, it's sooner or later.

[Jim Cramer]

It'S got to look there's. You're absolutely right. I do think that AMD is telling a story which basically says, look, we're ahead of where the Grace Blackwell is by this time next year. But the problem that Lisa Su has is it won't be against the Grace Blackwell be against the Vera Rubin. So she's going to fall once again a generation behind. Does she have 10% of the market? She's going to do. People want that chip. They want it just the way they wanted AMD when it was against Intel. But the fact is there'll be a generation behind. And the guys like, you know, you take a guy like Zuckerberg, he doesn't want. He doesn't want AMD if it's a generation behind. I do know that I'm waiting for Amazon to make a big move with them on that. And they have an Amazon remains a quandary. What is their plan? What is their plan for AI? What is their plan for being faster and better? That last quarter they had nice Amazon Web services and increased. Remember, they went from 18, 20, 20. That's got to continue. But the one that we have to talk about that is driving. If it's really a problem, if all of this is a big joke problem, then how come we're taking Alphabet? How come he's buying Alphabet? How come Alphabet's so dead safe? Really? That's the safety play. What is that? The J and J of the data centers.

[Tim Seymour]

Oh, well, it's funny. And you bring up Amazon, Jim. And today's the day where we know Amazon's out there in the market on a $15 billion debt raise. Now, of course, that means nothing, right?

[Jim Cramer]

Having said that, because that Oracle debt.

[Tim Seymour]

Well, that. And so I wonder if the free cash flow story that's gone on forever to the fact that these folks, at least some of the big cap tech are running into the debt markets. I'm not worried about the credit side, but I am worried about that free cash flow story. And if you remember whether it's been Metta, any of these companies that the minute they started becoming more free cash flow focused is when their stocks went through the roof. It feels to me you're right that the equity market is struggling with this free cash flow.

[Jim Cramer]

I think you're right, Tim. I think the problem is Open Air is like a kamikaze. Whoever they go after, they take themselves out and they take out the target. So Mark Zuckerberg has to say, I'm spending more than anybody else though. I'm Creatures, creatures. Forget about him. He's poor because he doesn't want. He doesn't want open air. Coming into social. Take a look at Alphabet. What did they do to keep not going to come in, not going to come in against Search Amazon? Are they going to really go into retail? How about this story? We do some sort of oedipus thing. They go after Microsoft, they go after the enterprise thing. They go after the enterprise enterprises where the money is anthropic, by the way. Anthropic. Free cash flow positive in by December. People are talking about losing money. They're not.

[Melissa Lee]

So this whole market pause that we saw today, at least, is it all just. We're waiting for Nvidia. We are waiting for the next, you know, economic data print to come out to, you know, lift this purgatory of economic data that we've been in.

[Jim Cramer]

No, I think it's the end of the year of magical investing.

[Melissa Lee]

Oh, it is the end.

[Jim Cramer]

It is the end. It is the end of magical investing.

[Melissa Lee]

The best times of magical investing are over and behind us.

[Tim Seymour]

How are we defining magical?

[Jim Cramer]

The companies that have no revenues and no earnings that just keep going up that we all hate and drive us crazy. And nuclear. Okay, I want a nuclear power plant next to me, but it turns out that there's 8 million people who don't want it. I mean, come on. The only nuclear. I used to sleep next to a nuclear power plant that had not been.

[Melissa Lee]

Where, where, where?

[Jim Cramer]

In Sacramento. This was called smud, the municipal utility district, because everyone knew that if you were within two miles of that, then you were radiated. No one wants those. We all want them in theory. We want them in Tennessee Valley music, too, around.

[Tim Seymour]

No nukes. I mean, we've got some good.

[Jim Cramer]

I went to a Springsteen concert that was.

[Tim Seymour]

I remember that one.

[Jim Cramer]

That was killer.

[Tim Seymour]

That was the blue dress.

[Jim Cramer]

But. Yeah, but I do think that we have to be careful that we separate the greatness of the end of those stocks. And we just can't keep having those stocks go up.

[Melissa Lee]

There are some of those stocks, though, in those quantum socks that are strategically important to the United States, like MP materials.

[Jim Cramer]

I have them on tomorrow.

[Steve Kovach]

Yes.

[Jim Cramer]

Yeah, they're on all the time.

[Melissa Lee]

I mean, very strategic. They are. Yeah, they are strategic.

[Jim Cramer]

And magnets.

[Melissa Lee]

They are on. So you may hate them and think it's the end of magical investing, but magical investing is buttressing by the Trump administration.

[Jim Cramer]

Well, that so is crypto, and that is down 3. How's that operation doing that? He's have a bitcoin. Is the east wing going to be equipped with bitcoin mining?

[Guy Adami]

Well, is. It's. Well, let's talk. You talk about strategy, obviously talking about Michael Saylor, but this is basically what he's been setting up. Me sells his. Sells his stock. He buys bitcoin. I mean, Jim Chanos has done the same thing. He Just recently took it off. So this what's happening now in terms of being long bitcoin selling stock. I mean that theoretically is what should be happening. It's playing out right before our eyes.

[Jim Cramer]

Well, look, all I can tell you is is that we just need. It's a. It's a cohort of traders that I'm worried about more than actually what they seize upon. People who are the zero day options guys, you know, with the hedge. All right, the people who just can't resist at Robinhood. You see how little of actual investing there is at Robinhood. What percentage of people who actually buy common stocks? Yep, it's.

[Tim Seymour]

And they're tiny accounts too. I mean they've grown their account base massively, but yeah, I mean they're whipping it around.

[Jim Cramer]

Who's making money in the 2x2x? Those are horrible.

[Dan Nathan]

The worst harm constructed ETF. All right, let's go back to the magical investing because you know they talk about this AI party. Okay.

[Jim Cramer]

You think that's funny? I've been using that for now. I've been that dead horse what just joined the party.

[Dan Nathan]

In the last two months we saw Micron and we saw the storage gas.

[Steve Kovach]

Okay.

[Dan Nathan]

And they've gone up hundreds of percent.

[Jim Cramer]

Oh, did you hear Today after the big red. What did they said today they announced the super cycle. Like the fracking supercycle. Like the coal super cycle.

[Dan Nathan]

Eating it.

[Jim Cramer]

That's the kiss of death super cycle. It must be near the top. Applied material is going to put it in machines next. You know we have too much micron.

[Dan Nathan]

Was that part of your end of the magical thing?

[Jim Cramer]

Because if you could just throw a dart at the next western ditch Sandisk. Well, I mean, look, I think that Mehrotra would be hesitant to continue to say the numbers should keep going up. It has historically led to just ruin. Look at the 94 Super Cycle. Who was none of you. I was the opposite Cradle.

[Bono]

Stop it.

[Jim Cramer]

I mean get your model. I want to talk about the 94 super cycle.

[Guy Adami]

All right, so let me ask. So you mentioned quantum and I'm not picking on Righetti, but it happens to.

[Jim Cramer]

Be in front of Rigetti.

[Guy Adami]

Exactly. This was a 16.

[Jim Cramer]

I saw it from Barstool 16.

[Guy Adami]

16 billion dollar company doing 20 million. I'll give him 25 million dollars of revenue. You've been doing this a lot.

[Jim Cramer]

You know, what was it worth a year ago? I mean it was like they did like a 72,000 for one split to get concern you.

[Guy Adami]

Does it scare you when you see Because People playing the momentum. They did.

[Jim Cramer]

That's the magical.

[Melissa Lee]

I'm telling you, that's.

[Jim Cramer]

I don't want to be. I don't recommend shorting, but that's part of the magical investing era. That's over. Rigetti. Rigetti. Okay, D Wave. Okay, how about. How about IBM? And by the way, Google actually has a real quantum division. I'm going to Google. Righetti, you pick Google. Rigetti's right here.

[Bono]

So, Jim, how do you convince the younger cohort who have seen these beta plays actually pound out for them over the majority of the last four years? How do you convince them without them having to take massive losses to move away from chasing these hyper beta plays when, I mean, unfortunately, they've kind of been reinforced as being right by fixing Bitcoin and Meme and we can go down the list.

[Jim Cramer]

My biggest worry, and in the book I talk about this, I don't want them blown out. It's really important that they don't be blown out. It's important that they migrate. And I don't see that happening because the money isn't made fast enough in the traditional companies that we talk about. I mentioned J and J, which was beautiful. I'm new prostate. Love.

[Tim Seymour]

Jj.

[Jim Cramer]

That acquisition just made that. That would be. They would rather, you know, they'd rather play for the Detroit Lions last night than they would on Change.

[Guy Adami]

You were there last night? No.

[Jim Cramer]

Do I miss games? Do I impress you? Someone misses games.

[Guy Adami]

What did you think? I mean, that was an interesting. Sorry, Mel. Now we're going now. Jim brought it up.

[Melissa Lee]

All right. It's all right.

[Guy Adami]

I mean, you.

[Jim Cramer]

I was out of line. I know.

[Guy Adami]

Defense now appears to be as they're playing as well as anybody in the league. Now named the Denver Broncos.

[Jim Cramer]

It's true. They're violent and they're from University of Georgia. I think you have a producer, someone involved with University of Georgia.

[Guy Adami]

That would be Sandy Kennel.

[Jim Cramer]

Yes, it would be Sandy Kenny. But I don't know. I just think that you raised the question that I think that we all have to think about, which is we all want this generation to own good, common stocks, and we don't want them to necessarily buy stocks that have no chance of earnings. I was with someone yesterday who's a safety engineer for a flying. Had looked at a flying car company job.

[Tim Seymour]

Sounds like quantum computing.

[Jim Cramer]

Well, and he said, look, they're good, but Boeing's ahead of them. And that reminds me of Quantum. Oh, they're good, but IBM's ahead of them. I want to try to get them involved in IBM. But I just think that that's just, that's not going to be their style. But if we lose them like we did so many people in 2000, it will be another lost generation. I think our job to some degree sotto voce is to get people to say, why don't you have some of those? And with them have. Maybe Bourla has something adviser.

[Tim Seymour]

But retail wasn't selling in April.

[Jim Cramer]

Right.

[Tim Seymour]

I mean, there's an argument that that was smart money.

[Jim Cramer]

That's young. Young retail is going to get obliterated. I think older retail turned out to be smarter than the hedge funds. Yeah, like there used to be this ad that would run that had my picture in it. It was appalling. And it said, here's, here's all the fun. I looked, okay. Then it had all the funds that it sold. Nvidia. And how, you know, it's like, hey, these people got. Well, it was, I wrote them down. It was a list of 20 idiotic funds. It's like, wow, I'll go against all of them. Then I saw today Peter thiel sold his 500,000 Nvidia. I guess I got to get out of Nvidia again. How many times can they scare you out of Nvidia, Mel? I mean, it's crazy. Greatest stock of all time and every hedge fund scared you out of it.

[Melissa Lee]

Is there anything about the trade in terms of the concerns that investors have brought to. Brought to the fore about financing, about maybe component costs eating into margins, about the circular nature of all the financing that concerns you? At what point do you say, you know what? Maybe there's a few questions that need to be answered here.

[Jim Cramer]

True. And these are not true lazy Susan deals because you're investing in the company and then Nvidia invest in the company immediately. He gives an order to take that. But I'm worried about him. I'm worried about OpenAI. I think Open air is the biggest danger of the large cap, of course, is private because they're based on retail. They have. They keep coming with the fastest growing, fastest growing. I don't like B to C. I like B to B. B2C is not sticky. And that's what they are. And what happens if they have a month where they don't gain 25, 50 million? What happens? I mean, you know, have you ever heard this term? I'm going to put it to you because he's a smart guy.

[Tim Seymour]

No, he's a smart. He's a Georgetown guy.

[Guy Adami]

This is not Georgetown guy.

[Jim Cramer]

It's called backstop.

[Guy Adami]

Yes, Backstop.

[Jim Cramer]

What does that mean?

[Guy Adami]

There means you backstop, you got. You got their back. In other words, I backstopped him. If he says something, that was when I'm going to backstop. You mean backstop like the government?

[Jim Cramer]

Like what they're like my credit policy. But you can't. Look, I've loved to walk, but I've said some things of my life, including in personal life, I would love to welcome back. They don't. They tend to stick. They do.

[Dan Nathan]

Well, Almond doubled down on what Fryer said.

[Jim Cramer]

I know, right? Well, you get a chance to take it. When I ask you, let's say you say something, you curse right now. And I say, did you say that? And then you go back and you double down on the curse. It's tougher to take back.

[Dan Nathan]

It really is harder. Jim. So you don't like B2C as it comes to B2C. If you crop it, if you like B2B, then you got to love Microsoft.

[Jim Cramer]

Now I love B2B and B2B is Microsoft. B2B is anthropic for Google. Those are the good ones. And B2C is worrisome. Now, if you're doing what Zuckerberg is, you have to spend as much as you can and then tell people you're going to spend double because you're Sam Altman. You're banking on Sam Altman saying, okay, that's the one I can't go after. And that's. He has to protect himself because that's the easiest. I think social is the easiest. He already has a kind of a social product. So that. So I think Zuckerberg is right to say I'm going to spend more money than God. But I think the problem is Altman thinks he's God. So it's going to be a race.

[Melissa Lee]

So let's say OpenAI does need some sort of government backstop stumble. Let's say, you know, they're in the private market, so it seems like it's okay, but what ripple effect would that have on the AI trade? Would we be looking at massive losses across the board when it comes to meta Nvidia amd you name it?

[Jim Cramer]

Well, it depends on. I think it depends on the way they. If they ever do it a backstop, because we know that the president is fickle like that. 15% in video trade never really. Never really happened. I have NP on tomorrow morning on the nine. And if you put a floor underneath of what of OpenAI needs, then OpenAI makes it. But I think it won't come to that. I just think they're going to have to slow the spend. They have to slow the spend. And that's what Zuckerberg wants. And that's how Meta goes with. That's how meta goes. That's 400 points. That's how Google is worth Berkshire Hathaway. And maybe Andy Jassy comes out and says, you know what, I'm going to. I don't have to spend fortunes anymore. And then Microsoft B to B goes and doubles and that's the best one.

[Guy Adami]

Am I allowed to take Jim overseas very quickly?

[Melissa Lee]

Of course. Anywhere he wants to go.

[Guy Adami]

So it was last August.

[Jim Cramer]

I forgot my passport. My passport.

[Guy Adami]

It's funny you say that because I happen to have.

[Jim Cramer]

Oh my God. He's got his right here.

[Guy Adami]

Just because I knew you'd say that.

[Jim Cramer]

Was he on the rudder for covering?

[Guy Adami]

So here we go, right before our eyes. You have a yen that's weakening. You have rates going higher in a meaningful way in Japan. That is what we call an unhealthy relationship. Right. Thoughts on the import? Should we be talking about it or we're making too much out of it by talking about it?

[Jim Cramer]

No, look, because it's one of those things. You're going to wake up one day and the market could be down 5 on it. We've seen that because people are totally unprepared. But you also have to remember our economy is very big, very powerful and there are a lot of companies that have real great, that do have lots of profits. They just tend not to be talked about because of the overshadowing of the, of the seven. I mean, I was listening to you earlier talking about Tesla and I'm saying that thing, that thing, which was a car company going from 400, 200, is now an everything company. And you can't. That thing just can't be shot down. So I would say buy Tesla on a yen play. In other words, buy Teflon. Tesla became Teflon. I don't know how that happened.

[Melissa Lee]

All right. By the way, we all have books on our desk. This is Jim's latest book, how to make money in any market. It is now available. It is on the New York Times bestseller list. It's amazing.

[Tim Seymour]

Amazing.

[Melissa Lee]

Number one. Also on Amazon's list of top selling stock market investing books.

[Multicare/Capella University Announcer]

Thank you.

[Melissa Lee]

Congratulations on your list.

[Jim Cramer]

Thank you. It's to get out of this morass where all we talk about is a bag 7. Do some homework. I actually have stuff on balance sheet. My publisher I thought was going to be worried because you took balance sheet is a problem But I did say.

[Guy Adami]

Something about Jim Cramer came in will come out. So Andrew Ror Sorkin, who we all love.

[Melissa Lee]

Oh yes.

[Jim Cramer]

He wrote a great book.

[Guy Adami]

1929. You're familiar. He brought us books.

[Jim Cramer]

Did he?

[Guy Adami]

No, no.

[Melissa Lee]

You could have called out on him. I just did.

[Jim Cramer]

Now he does 1930.

[Melissa Lee]

You couldn't carry them all. They're very heavy.

[Steve Kovach]

Jim.

[Tim Seymour]

Not only did Jim bring books, but he wrote everybody a very poignant insight and something that was real.

[Jim Cramer]

Well, Chris, like you people are real and I love you and I was not going to just give you a book and say, hey, you know, check out page 139. No guy.

[Tim Seymour]

I got a better message than you.

[Guy Adami]

Did, by the way.

[Tim Seymour]

Yeah, I did. I'm not going to keep it to myself because it's not fair.

[Jim Cramer]

That was. That was. That's because my wife knows you. It's an easy call. She's going to see you at a party and she. I'm a lucky man. Your husband is really. It'll be like a good night. It'll be fabulous day for me.

[Guy Adami]

Hold on.

[Tim Seymour]

Again.

[Guy Adami]

Why are you wearing that suit?

[Jim Cramer]

This was my stepson's graduation of Georgetown. I put it on, not worn it since. But I know there's some Georgetown folks here, so I figured heavy George Town.

[Melissa Lee]

Yep.

[Jim Cramer]

Hoyas Axe. Go Hoyas. Go Hoyas.

[Melissa Lee]

Jim, it's always a pleasure.

[Jim Cramer]

God, it was so much fun. I think I have to come back. I'm not kidding.

[Melissa Lee]

19 years from now.

[Jim Cramer]

It was too much fun. I'm sorry if I was a little disruptive, but it is B to B and the problem is open AI and we got to get the younger people away from spaghetti.

[Melissa Lee]

Yeah. You're here.

[Tim Seymour]

Well, they're watching Mad Money, that's for sure.

[Jim Cramer]

Well, they're watching Fast Money too. Let's hope so.

[Melissa Lee]

Thank you.

[Jim Cramer]

Thank you.

[Melissa Lee]

Pure joy coming up. The apple doesn't fall far from the tree. Or maybe does it? Details on the tech giants Tim Cook succession plans and just how soon to expect a changing of the guard. Plus Tesla. It's been stalling out recently, but could shares be about to rip higher? One firm sees its robo taxi rollout, charging up the stock. Don't go anywhere. Fast Money's back in two.

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[Jim Cramer]

This podcast is sponsored by Gold Belly Shipping America's most iconic foods nationwide. Make this Thanksgiving one to remember with the original Turducken, the viral pie Caken with decadent layers of cake and pieces and more. Plus, Black Friday is the perfect time to pre order unique gifts they'll rave about for years. Use promo code gift for 20% off your first order on goldbelly.com Gold Belly America's Best foods Delivered Is it time.

[Multicare/Capella University Announcer]

To reimagine your future? The right business skills may make a difference in your career. At Capella University, we offer a relevant education that's designed to focus on what you need to know in the business world. We'll teach professional skills to help you pursue your goals like business management, strategic planning, and effective communication. And you can apply these skills right away. A different future is closer than you think with Capella University. Learn more at capella. Edu.

[Melissa Lee]

Welcome back to Fast Money. Apple reportedly ramping up its search for Tim Cook's successor. The current CEO who's held the job since August 2011, could retire as soon as next year. Shares of Apple have risen 1,900% during his tenure. CNBC Steve Kovac's more on Scott Moron who could take over and when this transition could happen.

[Steve Kovach]

Steve hey there Mel. Yeah, this is I'm going to give you a name that's been thrown around there a lot. His name is John Ternus. Now it was previously reported by Bloomberg that he was seen as the heir apparent to Tim Cook. And then again over the weekend, the Financial Times putting a timeline on it saying as soon as next year this transition could happen. Now John Ternus is in charge of the hardware division over at Apple. So basically all the products, the physical products they make, he's behind that. He was also very instrumental as Apple split itself away from intel and started using its own chips and MacBooks. And look, while we've been talking about this succession for a while, it is important to note there have been some interesting moves in the executive ranks that caused people to kind of believe this is happening sooner than later. For example, CEO Jeff Williams, he is retiring this year. He already passed on his responsibility to his deputy Sabi Khan. And so he was actually seen Jeff Williams, that is, was seen as the heir apparent to Tim Cook up until basically this year when he announced his retirement. And then it basically became John Ternus job to win. So that's kind of where we're at now. And it's something I think you guys should sort of talk about now is, is this the right time for a CEO transition and the kind of CEO they're looking at. John Ternus, of course, is more of a product guy, and obviously Tim Cook is more of an operator. But I would also note that that lineage of operators is still intact with to be Khan now, the CEO, Jeff Williams before him. And by the way, guys, Tim Cook doesn't have to leave the entire operation. If he does decide to step down as CEO, I could totally see him sticking around as an executive chairman in some capacity. Sort of like we've seen Jeff Bezos do it over at Amazon. But we go back to that. Good debate, guys. A product leader or a sort of operator leader. What is right for Apple right now in this moment? Product kind of feels like the right move, though, guys.

[Melissa Lee]

I mean, the other piece of the puzzle here is the retirement age of the current chairman. Correct, Steve? I mean, that he's 75, and they, you can't stand for reelection, so they will have a vacancy. And so it does sort of make sense that Tim Cook could be named as a chairman and then therefore, you know, kick off that sort of succession transfer.

[Steve Kovach]

Exactly. And that's, and that's exactly why we saw Al Gore leave the board several months ago. Tim Cook is 65. So let's say he decides towards the beginning of next year to do it. He would have a full decade to serve on the board. That could obviously change the rules. It's not a hard and fast rule, but yes, he would have a full decade to serve out as executive chairman as well.

[Melissa Lee]

All right, Steve, thank you. Steve Kobach, is it the right time? Is there ever a right time? Is this a fine time?

[Dan Nathan]

You know what, no one thought it was going to be the right time when Tim Cook took over.

[Melissa Lee]

Everybody thought it was going to be a disaster.

[Dan Nathan]

And you think about this. They have returned three quarters of a trillion dollars. And this was very much what Tim Cook wanted to do when he took over. And, you know, to shareholders and the like. The other thing I'll just say is that if you look at Satya, Nutella, if you look at Sundar, these are durable, reliable CEOs who have really, you know, worked these companies through transitions. And I think, you know, Tim Cook obviously did that, too. And I just think it gets harder and harder to find that person, especially stewarding a $4 trillion market cap company that has hundreds of billions of dollars in revenue. So to me, this is not an easy task if they take somebody from inside. It's not anybody who has the pedigree or at least, you know, the kind of stature that a Tim Cook had.

[Melissa Lee]

I think the question that Steve raised is very interesting in terms of, for the next leg of Apple's growth. Do you want somebody who is a senior hardware person to oversee Apple or do you need somebody who has a broader sort of more, maybe more software focus, more AI focus?

[Bono]

I mean, I think it's a little, little timely. I tend to be in the camp of the latter where I think they have been traditionally a consumer products focused company. No doubt about it, they've delivered value there. But I think the next generation, the transition to where you're really going to be able to unlock value is likely around software. I don't know if you want to lean completely into AI, but clearly you want someone in there that's going to be able to clearly articulate what that strategy is going to be going forward.

[Tim Seymour]

Apple's greatest advantage is its installed base. So let's, let's talk about where the next innovation should come from. Overused term often with Apple, because I'm not sure when you're this big, yes, you need to innovate. You can't not innovate. But that's not really the story. And Tim Cook, remember, was coming in as an operations guy, like he was the guy that was actually going to not be the creative guy. And we all just talked about how great of a position. I don't think this is being discussed because there's some sense that Tim Cook really needs to go. This is a story where it's a natural evolution and I think it's going to happen at the right time. But I do think this is a story about Apple install base and what has not even really been leveraged yet.

[Guy Adami]

You know, Jim was just here. You talk about being a hardware person as opposed to a software person, but it's like in the NFL you'll hire a defensive coordinator to be the head coach. Sometimes they do extraordinarily well in that seat. Other times they fall back onto things.

[Tim Seymour]

Interesting.

[Guy Adami]

So this could be a situation where this defensive coordinator could be a remarkable.

[Melissa Lee]

But maybe you need somebody who's an offensive genius person.

[Guy Adami]

Yes, well, coordinator kind of guys talk.

[Tim Seymour]

About that a lot actually.

[Guy Adami]

That's an excellent.

[Melissa Lee]

Mel knows sports like the back of my hand. All right, there's a lot more fast money to come. Here's what's coming up next.

[Jim Cramer]

Plugging in to Tesla's Next move, why.

[Dan Nathan]

One Wall street analyst thinks shares are.

[Jim Cramer]

Going to get electrified and just how.

[Dan Nathan]

Far the robo rollout can power the stock.

[Jim Cramer]

Plus, bitcoin's seen better days as the token hits levels not seen since April. But could there be a bounce brewing in the crypto space?

[Dan Nathan]

What the Chartmaster sees in the technicals ahead?

[Jim Cramer]

You're watching Fast Money live from the NASDAQ market site in Times Square. We're back right after this.

[Multicare/Capella University Announcer]

Our state has changed a lot in the last 140 years. We know because Multicare has been here guided by a single purpose, making our communities healthier. That comes from making courageous decisions, partnering with local communities to grow programs and services, and expanding healthcare access to those who need it most. Together, we're building a healthier future. Learn [e-mail] Is it time to reimagine your future? The right business skills may make a difference in your career. At Capella University, we offer a relevant education that's designed to focus on what you need to know in the business world. We'll teach professional skills to help you pursue your goals like business management, strategic planning and effective communication. And you can apply these skills right away. A different future is closer than you think with Capella University. Learn more at Capella. Edu.

[Melissa Lee]

Welcome back to Fast Money. Tesla bucking the broader tech sell off up as much as 4.8% today and closing a percent higher than Stifel. Doubling down on its bull case for the stock hiking its price target from 43 to 5,08 dollars a share, which implies 24% upside from today's close. The firm citing strong progress on full self driving and Robotaxi even amid headwinds for the EV business. Steven Giangaro is behind the call. He joins us now. Stephen, great to have you with us.

[Stephen Giangaro]

Thank you for having me.

[Melissa Lee]

This is a sum of the parts analysis and so I'm wondering, you know, how big of a part is Robo Taxi, which is showing as you point out, real progress and you can actually see the deployments happening in various cities. And how much is for instance Optimus, which is very much pie in the sky at this point.

[Stephen Giangaro]

Yeah. And most of. Right. Right now it's, it's really a data point driven stock. Right. So we're going to get incremental data points we think on the success of fsd and that's ultimately drives the robotaxi business when we look at valuation. Just to answer that question specifically, we have about 130 bucks of our valuation that's tied to the Core auto business, storage and generation and then FSD and Robotaxi make up about 185 and about 160 of the upside to the valuation.

[Melissa Lee]

I'm curious in terms of that upside of 160 because 160 is, it's a lot out of your price target and it's a lot built on promises from Elon Musk for technology that when that optimist was here in Times Square, it couldn't even grasp a little packet of gummy bears. And I'm just wondering, and I'm sure as an analyst you've gone to these analysts, you've seen the optimists performance in action. It can't really do that much at this point. So how do you sort of think about that in your model?

[Stephen Giangaro]

To be clear, on the optimist front, our valuation for the optimist piece is only about 29 or 30 bucks a share where we're very conservative on the optimist side. It's really the FSD business and then the Robotaxi business which drives the bulk of the valuation of the stock.

[Guy Adami]

Stephen, his pay package to me is one of the many reasons, well one of the, put it this way, on the top of the list, why you should be long this stock, I mean he's incentivized obviously for the stock to do well. Does that play into this in any way, shape or form in terms of your upgrade?

[Stephen Giangaro]

You know, if we raise the price target, really come out of earnings and really just doing a little more work around, around full self driving robo taxi. I mean the pay package is obviously enormous. I think the biggest thing about the pay package is when you look at the EBITDA targets that are out there, I mean they are just off the charts high rate. So if he gets anywhere near those, those objectives, you know, the stock's going to be a lot higher than it is today.

[Tim Seymour]

Stephen, how about fsd? Where do you need this to be in terms of penetration by say 26, 27 or where are you on 2627 and where do you really need this to be? And are we worried about any other competitive threats there?

[Stephen Giangaro]

Yeah, no, we are. And I think, I think the two things that we worry about most with FSD is one, you know, Tesla's doing this with a camera based system and AI and everybody else has some type of LIDAR system. So that, that's probably the biggest risk in our view from, from a penetration perspective. You know, in 26 and 27 it's low. Right. Our model, our model probably has 15 or 20% of, of Tesla buyers, you know, sort of subscribing to FSD and then it gets a lot higher in the later years and we saw back over an eight to ten year time frame. But I think what you'll ultimately see is you'll see increased adoption as people are exposed to it. I've been behind a wheel of several of these in the different iterations of FSD and it is getting better and better and I think it's something that when people experience it, much more comfortable utilizing FSD and paying for it.

[Melissa Lee]

Stephen, great to speak with you. Thank you.

[Stephen Giangaro]

Thank you.

[Melissa Lee]

All right, so what do we think of Tesla here, Bonoin?

[Bono]

I think this is probably one of the more articulate explanations I've heard in terms of how to value Tesla. I think it's something that I've always struggled to do. He's clearly making the state clearly stating the case that you should not be looking at this as an auto company. If you look at some of the parts breakdown. So listen, I do think there is some regulatory overhang and I'm not sure that that's a given. So in terms of getting to FSD within a year or two, I'm not sure I'm willing to kind of hang my hat on that. But I can actually get behind this construct with a constructive lens. In terms of his, him explaining how he's getting to his price target at.

[Melissa Lee]

The same time in the fourth quarter is an expectation that there was pull forward in terms of deliveries. And so it may not be a straight glide path to 508. There's looks like there's going to be at least volatility in the fourth quarter.

[Dan Nathan]

I just think really soon stock is not going to be trading at all on deliveries. It just, it just won't be right. And you know, eight and a half.

[Tim Seymour]

Days first for, for owners of the shares, right?

[Dan Nathan]

I think so. I mean, guy just said it. I mean like I'm done trying to poke holes in the story because he's going to hit this pay package. It's going to happen. He's going to buy Space X, he's going to buy X, he's going to buy Starlink and all of those could help him get to an 8 and a half trillion dollar market cap which is one of the biggest drivers. So you know, have a ball, follow Ron Baron, follow Cathie Wood. I mean these guys are all fairly well convinced that this is going to happen. And listen, this guy has done obviously amazing things. It always happens later I've been saying this for 10 years, you know, take the over on whenever, but he has actually not failed at any of the things he set out to do. So I believe that all of his companies will be under the Tesla umbrella and I believe that he's probably at some point, listen, there's going to be a bunch of $10 trillion market cap companies in the not so distant future. Just think about it like two years ago there were 1 trillion and no one thought we could have 4 or 5 trillion. So they're here and his is going to be one of them problems.

[Tim Seymour]

Silver lining down.

[Melissa Lee]

This is a bullish case.

[Tim Seymour]

Silver lining down stock long term and a half.

[Melissa Lee]

I mean if that's all in one.

[Tim Seymour]

Time and I have at it, there.

[Guy Adami]

Was a few, it's more than a few months ago where silver lining Dan came on and it's talked about the bullish case in terms of the chart for Tesla. That's true if you recall. I'm not here to get it.

[Dan Nathan]

Well, part of it was that the bulls and bears agree that the auto business is no longer important. And as long as they believe in all the other stuff, then that means anything can happen to this stock.

[Melissa Lee]

Coming up, a number of fast movers from today's session catching our attention. The headlines behind the big moves in pharma lithium stocks and Netflix after its 10 for 1 stock split. More Fast Money into. Welcome back to Fast Money. Stocks dropping to start the week though, closing off the lows. The Dow falling 557points. The S&P down almost a percent, both now on three day losing streaks. And the NASDAQ dropping 8.10of a percent. Novo Nordisk cutting direct to consumer prices for its GLP1 drugs, WeGovy and Ozempic. It comes a few days after Novo and rival Eli Lilly struck deals with the Trump administration to make the drugs more accessible and affordable for customers. JJ Meanwhile announcing it will buy Halda Therapeutics and its experimental prostate cancer drugs for more than $3 billion. Lithium stocks getting a boost after the chairman of a major Chinese producer said he expects demand for the metal to grow by 30% in 2026. Albemarle up as much as 9% today. That now gained 20% this month. And Netflix's 10 for 1 stock split going into effect today. The stock now trading around $110, up nearly 24% this year. Dan also pointed out a key technical move in the stock. Right breaching its 200 day moving average. First time since when?

[Dan Nathan]

Late 23. I mean this thing was a monster. It was one of the very few mega cap tech stocks that did not break its 200 day moving average back in April when a lot of these stocks, you know, sold off 20, 30% or something like that. And you know, all of a sudden though it really. I saw Tom Rogers on the show the other night and it was really interesting because I think guys mentioned this a bunch. He was just a staunch bull for so long and now all of a sudden you got to ask yourself, bidding for this, you know, Warner or something like that, like what's going on there.

[Jim Cramer]

You know what I mean?

[Dan Nathan]

Because they were the leader and original content for so long, they have this amazing library. So that's something if I was a shareholder I would not be particularly happy about.

[Melissa Lee]

Well, I know that you are going to bring up that after the last or two earnings ago. That's when Tom Rogers started June cautious.

[Guy Adami]

On Netflix and just pointed it out and he had been again, steadfast, whatever word you want to use are in the camp of Netflix and the stock. And he saw something that quarter that got him thinking, you know, maybe the stock was due for pullback. And that's all it's done since then. Good for tomorrow.

[Melissa Lee]

Coming up, a rough November for bitcoin. But could crypto be ready to bounce with the Chartmaster season? The tokens, technicals when fast Money return. Welcome back to Fast Money. Bitcoin continuing Its decline down 25% since the peak of 126, 126,000 in early October. The recent tech sell off and lowered hopes of rate cuts putting pressure on the crypto space. But the chartmaster sees a potential bump in bitcoin. Carter Braxton worth of worth charting. What did the chart say?

[Stephen Giangaro]

Sure, let's get right to it. We know all we'll know. Of course Bitcoin has sold off some 27% over a two month period. But we're right to a well defined trend line. This is a trend line as seen here that's been in effect for the past three years. But this trend line, if you look at the next chart, goes back for a decade. And so it is obviously a critical juncture. The note to clients was by all accounts one of the biggest junctures of all time. And so final chart, we have responded to this trend line repeatedly and bounced to the penny. Does that mean it has to happen this time Again? No. So in principle, on an approach of a well defined trend line, play for the bounce and then the hard part is what is it? 2% taken run 10 or maybe it's none of the above. Or it bounce a little bit and then undercuts. It's a trade. And if it as it does break trend, that has major implications. And I would just flip it around and take. Take the short side.

[Melissa Lee]

So, Carter, the fact that the trend line has been in place for 10 years, does that mean that the break means even more damage to. To the direction? I mean, does it mean that the drop will be much harder?

[Stephen Giangaro]

There's a lot to that. Meaning. Think about how a stock or currency quantity bases over many years then comes to life. So a long and protracted bottom has major implications. This is a major trend line versus a minor or intermediate. And to the point, I think you're making a breach here does have major implications.

[Melissa Lee]

All right, Carter. Thank you. Carter Braxton Wirth of Worth Charting. What do you think, Tim?

[Tim Seymour]

It would be so ironic at a time when there's been institutional adoption in bitcoin and there really should be some kind of an underpinning that it actually would be the great break of the last 10 years. So I'm going to bet against it. Doesn't mean I don't think we can challenge this, this trend line, but I think it's fascinating what's a little bit more interesting. And the higher volume move, not surprisingly, has been ether, especially with the fall of a lot of these digital kind of treasury coins.

[Bono]

Yeah, yeah. Carter's been on top of all this stuff, this gold. I'm hesitant to bet against them with this. I think you probably look for the trend line and check it.

[Melissa Lee]

But with the shortstop coming up a shaky foundation ahead of results, shares of Home Depot down 10% over the past three months, but tomorrow's results help build up gains. We'll debate that when Fast Money returns. Welcome back to Fast Money. Home Depot is set to report Q3 earnings before the market opens tomorrow. Shares down double digits in the last three months. The move mirrors that of the broader housing sector. Homebuilders, KB Home, Toll Brothers, Dr. Horton, Pulte, Lennar, all deep in the red today. So what should we expect out of Home Depot? Tim, you own it, right?

[Tim Seymour]

I like Home Depot. I think you could have some small comp misses. I mean, I don't think the setup's great. And even while I don't think the comps are that extraordinary, I think this is an interesting time for them. But I. Of all the places to be investing in the homebuilder space, this is where I feel most comfortable and I stay there.

[Guy Adami]

Yeah, I agree with. I mean trading at a market multiple ish, which is reasonable for Home Depot, I think the average price target is about 435ish. For analysts out there, it has sold off pretty significantly. The setup to me in earnings is actually pretty good.

[Bono]

Yeah, this is pretty much round trip. That move you see us rally in late June and we've pretty much checked right back to that level, to the penny. I'm in agreement. I think that the housing trade is a tough one to be in right now, but if you're going to be in it, this is probably where you want the exposure.

[Melissa Lee]

Dan, are you going to give me a have at it or have a ball kind of thing when it comes to this trade?

[Dan Nathan]

One thing, I'll just say we haven't mentioned this yet. I don't know if you guys saw America American Express today. Just pull up that chart. What do you call them? The crack. What crack?

[Guy Adami]

Stephanie?

[Dan Nathan]

This was devastating. I mean, look, look what happened here, right? So we keep talking about this K shaped economy and sooner or later, I mean, it feels like we're going to start seeing some pressure on the upper end here. And you know, Home Depot, to his point, just round trip. This entire move, I agree with Tim, was not a great setup. Usually you say that about strength into a print. I look at it the other way here.

[Melissa Lee]

Up next, final trades. Welcome back. A reminder that Jim Cramer's new book, New York Times bestseller, How to Make Money in Any Market, is available right now. So get your copy today. Time for the final trade. Tim.

[Dan Nathan]

Yeah.

[Tim Seymour]

This is a read for sure. And it's probably a market that might be getting more interesting and trying to pick your money. So Barclays bank, my pick.

[Melissa Lee]

Von Win.

[Jim Cramer]

Sbi.

[Melissa Lee]

Dan.

[Dan Nathan]

Yeah, Baidu reports tomorrow.

[Steve Kovach]

Tomorrow morning.

[Dan Nathan]

I'd be a buyer.

[Melissa Lee]

Weakness.

[Dan Nathan]

I think you'll see weakness.

[Guy Adami]

Guy, you don't have first a lot of time. You only have a first one time. So that was the first JC on set.

[Melissa Lee]

Thanks for the clarification. I was wondering. GPCR Mel, thank you for watching Fast Money. See you back here tomorrow at 5. Mad Money with Jim Cramer starts right now.

[Multicare/Capella University Announcer]

All opinions expressed by the Fast Money participants are solely their opinions and do not reflect the opinions of CNBC, NBCUniversal, their parent company or affiliates, and may have been previously disseminated by them on television, radio, Internet or another medium. You should not treat any opinion expressed on this podcast as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of an opinion. Such opinions are based upon information the Fast Money participants consider reliable. But neither CNBC nor its affiliates and or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. To view the full Fast Money disclaimer, please visit cnbc.com fastmoneydisclaimer@ Capella University, learning the right skills could make a difference. That's why our business programs teach you relevant skills you can take from the courseroom to the workplace. A different future is closer than you think with Capella University. Learn more at Capella. Eduardo.