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tv   Fast Money  CNBC  April 9, 2021 6:00pm-7:00pm EDT

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♪♪ hey, "mad money" fans, jim is off tonight but you're in luck, we have a special edition of "fast money" for you "fast 5. here for the countdown, tim seymour, victoria fernandez and delano, thank you for being here let's get to it. the prime battle amazon workers in alabama voting against forming a union today but the fight far from over. tim, what do you make of what is
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going on here? >> first of all, leslie, welcome. what a treat to have you on this late -- early friday evening to be talking about this stuff. look, the news today maybe was a bit of a surprise in terms of the percentage of the vote that went i guess in favor of amazon but if you listen to amazon, they are saying this isn't about us, this is about what the workers chose for themselves amazon, you know, depending on who you ask and whether it's their effective tax rate and 193 billion net worth of jeff bezos and some of the workin conditions we've heard about for the company over the last year or so in the pressure of employees, look, there is a lot of negative sentiment with amazon but today's news seem s to be on some level, a national referendum maybe it was, maybe it wasn't.
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looks like amazon came away the winner. >> what do you make of the fact amazon is a company, they have recently increased the minimum wage and their side of the campaign is we provide good jobs we plorovide good wages. why pay union dues if you have this is it likely there are other companies that could be vulnerable if they didn't have that side of the argument to really push here >> yeah, leslie, when you think about amazon, you have to see what we're looking at is we saw that employers and workers were not happy in some cases. elderly folks worked there and mentioned things that could have been changed but we're seeing management is actually realizing this we see from jeff bezos, they are hearing the issues but we saw jeff bezos spoke out about admini administration's policy. so management is realizing this is a real issue they want to get
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a foothold in front of now that's aside from the investor standpoint if you're an investor, we're happy and especially younger people are looking at it this is somethingyou want to take a strong look at and for management, they are doing that but it's something we want to keep a watchful eye on. >> victoria, what does this mean in terms of automation that's something amazon prides itself on since it was founded they found more efficient ways of do g doing things how would they respond to the efforts if they were more successful for the potential of more in the future does that make them more likely to replace humans with robots? >> leslie, this is a factor when employees are deciding on whether they want to unionize or not, that they may tend to forget and it just needs to be considered along with all other factors. so if they move towards
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unionization, they have to consider what the costs are for amazon they have to consider what workers cost is, how that affects margins and profitability for the company and does that mean if those costs go higher that amazon says okay, that's great we'll support the workers with higher wages and other requests by the union but we're going to automate some jobs that we have now and that actually goes against what the union is working for. and so i think it's a factor that many times people don't consider, but amazon has been at the forefront of automation. they have the capability to do that, and so i do think it's a very serious consideration for workers to look at. >> now, i just want to level set with the three of you here raise your hand if you actually own amazon stock okay all three of you own amazon stock. raise your hand if you would have felt worse about that stock that you owned had this union
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vote actually gone through would it have impacted the bottom line enough that you would have changed your sentiment, maybe sold some of it nobody >> not at this point. >> nobody. so at what point does it actually matter, victoria? >> well, i think it's kind of what we were talking about just a moment ago we got to watch the balance sheet. we have to watch the margins and see if this becomes wide spread, then perhaps it starts to affect those balance sheet numbers, which is the core of what we're looking at when we look what company to put in the portfolio. you have one warehouse in one state or one in another state. that won't be enough to put pressure on the company's balance sheet but if it goes wide spread and becomes a political issue, perhaps you start to see ramifications that's when we want to evaluate. at this time, we're still holding the stock. >> yeah, i mean, the way i look at sentiment around amazon for a
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company executing across the board, sentiment is awful and i actually think for a stock that really has done almost nothing since july that has to me the most quwide space in cloud and commerce when most of the world is in 20ish percent and the u.s. is 35 and moving forward and invested in a mote around their business look, amazon to me is probably not only the most interesting mega cap tech stock at a time when obviously they had a big resurging. we'll talk market soon there is a lot of pressure in the news and yet, the execution is extraordinary as an investor, there is a lot here. >> excellent yeah, well, speaking of the news at the center of this vote, big drama over a mailbox okay let's bring in cnbc.com steve following this for the website steve, a mailbox, what is wrong
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with that? >> well, on the surface, maybe nothing is wrong what is really going to happen here is as the union fights the results of this vote, they're going to be focussing on this mailbox from the usps installed on amazon's campus days before the mail in voting actually began and that's because the nlrb had already told amazon you can't have a regular drop box on your campus. it could cause fear and anxiety and might make workers feel like they are being watched or amazon would look at the votes. what came out this week as votes were being counted is that amazon pushed the usps to put this mailbox on their campus at this warehouse and that is what the union is focussing on saying it instilled fear or anxiety in workers who may not have voted or voted a different way for fear their employ year was watching them. >> amazon said it made them more convenient for workers to actually vote.
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you know, based on your reporting, based on those you've spoken with, did it really matter that much that it was just there and more convenient or would the vote have gone a different way if that mailbox hadn't been there? >> yeah, that's going to be really tough for the union to prove because again, amazon won this by such a wide margin, even those contested ballots if every single contested ballot goes for a yes vote forthe union, amazo still wicns it will be hard for the union to prove this mailbox issue, this mailbox gate drama going on actually diverted the votes one way or another or kept people from voting. that will be hard to prove. >> big part of amazon's business is shipping and utilization of the post office. how does that play a role into the fact they already theoretically do business with usps >> yeah, i'm not sure it plays a huge role but these emails that came out from a request from the union show that amazon
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executives were asking the usps office down there in alabama to really accelerate their plans and get that thing installed in time for people to start their mail in voting process and that's what the union is going to focus on. the relationship between amazon and usps, not so much but it's more about them pushing them just to install that box. >> fascinating we know you will stay on it. we'll look forward to your reporting. thank you, steve, for joining us. >> thanks, leslie. >> back to you, tim. obviously, this is the latest in a series of political over tones with regard to this stock. >> yeah. >> you know, you've said there is more room to run here does that mean that these kind of political headlines and negative stories that consistently pop up about amazon, do they haveto disappear or get out in front of them or do they just have to keep on churning and keep doing what they do >> i think they are definitely addressing where they can and where they should and in many
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cases letting things go quiet. some -- this unionization at amazon again is it being watched around the country on some level, i also read a lot of interviews the folks at the plant do not want the attention on them and whether this is kind of like prop 22 for uber and li lyft do you have workers that don't want to be employees for the stock, it's interesting. for the first time in a long time amazon around 16 times ev ebita not ridiculously expensiexpensi. as we get more sophisticated and greater penetration. things like cpg and consumer staples, things that are the less, you know, even around apparel. these are places where all of that investment that amazon is so far ahead of everyone and from a merchant's perspective,
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they want amazon, as well, i think. as an investor, i think amazon in terms of a growth story that i can sleep on through good times and bad, there is nothing in the secular trends that are bad. there is going to be anti trust and union talk and effective tax rate issues. i think there is a lot of companies that will face that especially in mega cap tech land and so far, it been noise. >> what about esg speaking of secular tail winds esg, this is a huge beneficiary of kind of 2020 trends delano, i'm curious your thoughts in regard to amazon, most data providers seems to fit down the middle of corporations in terms of esg score. is this something that should be more of a focus for the company e as it seeks to try to capitalize on more of the inflows that have gone into companies that have better esg scores >> yeah, yeah, leslie, i
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definitely think it should tim mentioned the points why we love amazon. where do you have holes? areas where they may not be scoring as well. i talk to younger investors, it's smart to hold amazon but some are pinpointing and focused on where their money goes and a lot of times they talk about weapons and money and sometimes they don't want their money going to amazon because of the fact they maybe heard different things and allegations obviously, if we look from investor stand poundint, it mak sense to be invest in amazon amazon is doing everything in every front and there is times to look at areas where you may feel you're weakened amazon can do that. >> speaking of politics and what went on with amazon, we got a tweet from senator elizabeth
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warren that says quote, i urge the nlrb to investigate amazon's actions that may have interfered with its employees legally protected right to vote for a union and congress should pass the pro act to protect and strengthen the workers bargaining rights. this is a huge part of the platform for democrats in recent years working on strengthening pr pro labor rights and so forth. what do you make of this increasingly under fire from politician it is this is a problem for them. >> i think it's an on going problem and both tim and delano talked about the implications we see from the political side, from the esg component i think this is just another factor that they're going to have to work through and it's not just going to be amazon. it's going to be larger companies, look at walmart, as well you've seen some of these companies over the past couple years go in and start to make
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changes because they knew pressure was going to be coming down the pike. we had them raise minimum wages and change working conditions, change working hours a lot of these large corporations that are going to be easy targets for some politicians, those are the people that i think we're going to start seeing more and more changes and it's going to be a battle they'll fight for awhile. >> big story this week, not going anywhere and neither are we coming up, one hot topic down, four to go including a story investors can't afford to miss stick around we have got much more on this special edition of "fast money" ♪ ♪ we know it's going to take many forms of energy to meet the world's needs while creating a cleaner future for all.
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welcome back to this special edition of "fast money" we're counting down the five hottest stories of the week. we tackled amazon's big win in the battle of labor. story number two is the record
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week on wall street. stocks hitting all-time highs. the dow jones industrial average claiming m climbing more than 200 points to end with a 2% gain and nasdaq doing even better on the week. so let's talk markets, guys. victoria, what do you make of this week's activity, especially as we're leading into earnings season if you can believe it for the first quarter beginning next week >> yeah, so, we anticipated we might see a bump in the market the labor market report came out on friday and equity markets were closed for that we anticipate with such a strong number on friday we could see some positive news and really, all the movement is built on optimism and reopening trade and we have this really heavy support from central banks with the market and so this soft data has really been leading the market we've been waiting for hard data to catch up with it.
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we're starting to see it we have manufacturing numbers that are really strong and retail sales next week, which i anticipate will be really strong getting a bounce back from february when we had some of the weather issues going on. but the question is what is the catalyst we'll have to move this market significantly one way or the other? i'm not sure what that catalyst is going to be at this point perhaps it is earnings i can't believe we're at this point again but we're going to have companies actually giving guidance that we haven't had over the last couple quarters but expectations are pretty high i would be watching earnings and see if that starts to shift the market and shift the bond market because we haven't had a hauge reaction from the bond market with really good numbers over the last week. >> delano, how much of the market do you think at this point priced in lofty expectations and how hard will it be for corporate america to
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beat them? >> leslie, that's a great question the backdrop is super strong for investors now. we had the fed and jerome powell say hey, even though we've come through the worst. the qualitative easing and tools will be in effect and investors have a lot of stimulus, extra savings and money supplied still out there. i think as mentioned, earnings will be important for more of the reopening companies seeing what is the plan going forward it's a really great catalyst for the companies that have one benefit during the pandemic in the sense of the high tech companies, the tools that we need and are able to use during this time but now they're actually being able to say hey, this is a shift to a reopening and what we're doing during these times. i've seen a lot of talk in different areas that's the rolling '20s i'm not going that far i wasn't around then i don't know what happened then. i've seen a lot of good thing for investors. volatility is down that's good for long-term
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investors as retail traders sometimes look and volatility is down that's a good thing for the market. >> tim, what do you think are significant headwinds at this point in time? we seen optimism from the fed. we're optimistic about earnings. we are optimistic about reopening. what are we missing in the broader picture that could kind of come back to haunt us >> by the way, we didn't have a fed like this in the roaring '20s that's why we may when ahead of the game this is a short-term trading focus but we haven't been that bought since the blow off top of september. in terms of sentiment and consumer confidence, it's hard to get higher here yet ism services this week that was almost bombastic and the highest we had going back to 1997 so at a time when the labor market is stlerengthening, the question is what have we priced in here? look, to me, the fact is and
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it's another great point you get to a place where sot mom point companies gave a mulligan for 2021 largely giving some mulligan to '22 but normalized earnings is a time to sell the market i'm not running for the hills. i'm telling you that the dollars strength presiding three to four weeks before giving back is something else to worry about. if the economy is as strong as we think and you start to see mismatch in the u.s. growth dynamics versus the rest of the world, i would be concerned about the dollar and concerned about the vix at 16. we're not really pricing in a lot of risk. >> so potentially valuation in and of itself is a major head wind with the environment? >> yeah. >> excellent. coming up, we delivered details on the battle brewing at amazon we talked about the big trades driving stocks to record highs so what's up next?
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visibly diminish wrinkled skin in... crepe corrector lotion... only from gold bond. hello and welcome back to this special edition of flat money. two topics down, three to go let's pause the countdown for a fast break this story got us all buzzing today, the "wall street journal" says the latest workplace perk, cash bonuses for taking vacations? price waterhouse cooper will pay people to log off. the company will give employees in the u.s. $250 for every full week of vacation booked up to $1,000 a year. tim, you're shaking your head. you don't like this idea it's money to go somewhere. >> first of all -- >> to go on vacation. >> first of all, yeah, i love the song we just played by the
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go gos quick trivia, first album or second album, leslie >> first it was a 50/50 shot. >> second. >> wrong. >> love the gogos. vacation i can name it one mote, look, the absurdity of this. if you want your employees to be less burned out because they can't get away from screens at home, bring them back to work or how about if you told me go back to the office where you don't have to also deal with working home, kids remote learning and all these other things, that actually sounds like a vacation is getting back to the office. look, i think this is absurd and, you know, my family is listening somewhere but i -- this is extraordinary. they must have a lot of money to give away or sign me up at pwc. >> it's amazing what the pandemic can do to our definition of vacation, right, victoria >> absolutely. i think besides just employers not wanting their employees to
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get burnout, they have to consider if everyone is saving their vacation days because they're working from home and have nowhere to go, those roll over to next year. so they might be concerned in 2022 you're going to have people gone all the time from the office so there is probably a few reasons but i do think i need to talk to my ceo at cross mark and see if this is something he'd be interested in doing. i'd take him up on it. >> maybe he's watching,. >> maybe so. >> it's interesting because it's not simply free cash, pwc gets nothing out of it. it's an accounting liability when you have all these days that are accrued that ultimately, these employees leave and they have to pay out for that i can add up over time do you think something like this could be more wide spread? >> that's a good question. i think having a different take when it comes to this. i think it speaks to the new normal we live in. the effects of the pandemic aside, i think people actually
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enjoy sometimesw working from home one, maybe you shall jcan jump peloton, run a quicker er land maybe you have those counting your bathroom breaks maybe they come back and want to reopen i have a little different take on that. >> yeah, this are certain vacations you actually want to be taking rather than sitting on your couch and watching more streaming things in honor of tim, we'll go go to break. up next, it's back to the couldn't down -- >> well done. >> record rally check want you to take a gamble on what's next. we'll bring it to yowhu en this special edition of "fast money" returns.
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welcome back to this special edition of f"fast money" . we're hitting stories that impact you'd on the list, the betting boom. new york legalizing online sports betting this week but you might need to think twice before going all in on this one let's bring in contessa brewer, she's live in her second home, las vegas. before we get to new york, what is the mood in sin city right now? >> are you kidding me? speaking of hot, it is lovely. the sun is shining if you want to know whether las vegas is back, look over my shoulder here. this is the i-15 do you see the traffic in the pandemic, it wasn't like that here we are, friday afternoon and things are bustling. around town the same goes. leisure travelers are filling
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the restauranting s having ha hd time to make it to 50% capacity because of social distancing requirements and they said look, if you want us to lift the restrictions on capacity, we need to see real evidence you're moving forward on vaccinations to that end you had mgm launching a convene with confidence program where conferences that can come in can opt to have sort of a bubble with rapid testing on site and health passes through clear. you have wynn resorts saying listen, we have 65% of our employees vaccinated we need to see proof of vaccination or you have to come in and have a negative covid test every week. let's see if that pays off in terms of lifting covid precautions here. >> that's fascinating. but to your point, you can definitely see a noticeable change behind you in those videos that you were showing just know. it seems like a whole different game, shall i say, there in sin city moving back to new york, throw, we approved in the state of new
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york online sports betting as part of the state budget this week what does this mean for big online betting operators are they poised to prosper here? >> there is so much disappointment in the way they put that into the state budget the hopes were so high that this would expand some opportunities for the gaming operators in new york after all, we know a lot of what new jersey is making in tax revenue off of sports betting is coming from new yorkers who cross over the bridge, cross through the tunnel and they can mobile bet on their phones as soon as they get to the train station and go back to new york. all of that money is going to new jersey instead of new york and what new york has done is made it rather confusiconfusing. nobody really knows am i going to be able to get a license? is the tax rate going to be? are they going to auction off
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tax rates and force us to bit how much we're willing to pay the state to get a sports betting bid and finally, one other thing you may not have heard a lot about. we've been talking about licenses for integrated land based casinos in the metropolitan area in new york. right now, the casinos that are there have limited slot machines and things like that they don't have table games. they don't have sports books and they were really hoping they were betting that in this particular bill or budget that it would come forward and they would have some clarity or request for proposals to get the license. that didn't happen and all up and down the strip, they are just fallen because they thought it would happen. >> fascinating we're glad you're on the ground there. thank you for sharing the latest with us, contessa. go have a drink on us tonight. tim, are you rolling the dice on this one it looks like from reports that this is expected to eventually yield about $500 million in taxes for new york
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does that leave anything left on the table for the bottom line for these casino operators, the mobile casino operators? >> first of all, i want contessa's job, friday evening in vegas, restaurants booming. new york, talk about a dysfunctional, you know, essentially betting proposal at a time when you don't need to reinvent the wheel new jersey's lottery system worked but new york tried to reinvent the wheel and it's confusing and it's chaotic and the great irony is of course, you actually may lead to more black market betting and tax levels and uncertainty this reminds me a little bit of california when they were really the first and the biggest and most exciting canvass market they weren't the first to legalize but the biggest and some of the tax issues and some of the regulations and the
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dynamics around it drove up prices and drove more elicit retail it isn't the same thing but it is you look at regulators that got to this place in a convoluted way. i live in new york, i love it. new york politics are crazy and they came through on this bill so i don't think this is great news today. >> victoria, you are in texas but watching this from afar. what do you make of the timing for all of this especially as 2020 one of the major stories was all these people were sitting at home not much to do and finding sources of ways to occupy their time? >> we had savings rates go up for people above 30% i think it was last june was the
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highest level at 34% so people were looking for ways to spend their money when they couldn't go anywhere or do anything the question now is does some of that demand come back for online gaming because they have the ability to go to vegas we saw all the people or the cars there that contessa was showing and it more of an experience for them. they're knot just there to gamble but do shows and my personal favorite, i like the spas at the hotels there i think it's more of an experience for people and they're going to want to actually go in person and do some of that the online component, maybe they are a little late to the party with that but it's also a much quicker way to generate revenue than building a brick and mortar facility for someone to go to. there is pros and cons to it. >> that's a great point. i also like the spas in vegas. delano, what about your younger clients? are you hearing from them in regard to this space may have a different more unique take. >> yes, i think for the younger client, the big thing they are
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looking for is deregulation and we're talking about sports betting now. usually younger clientele based on doing that. we're having grandmas and grandpas hitting parlays and we'll see better things for the sports betting platforms. >> good stuff. coming up, three of the week's biggest stories down, two more to go the next story is so buzz worthy victoria's kids are talking about it we'll reveal it when the countdown continues but first, as we head to break, we're celebrating financial literacy month here on cnbc throughout april we're sharing messages from business leaders about the importance of financial education. here is nasdaq president and cec ceo. >> learning how to be successful personally and professionally and leveraging the financial education that's available is a big part of makes the economy so
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strong we are excited to see more and more people get involved in finance and opening businesses and making their lives a success through finance.
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. stay tuned at the top of the hour, the news with sheppard smith starts at 7:00 p.m we hit amazon, the record rally and the betting boom time to reveal the number four
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story. the crypto craze we had crazy numbers let's get to kate rooney who follows this for more. >> happy friday. we had crazy numbers in crypto this week. let's start with this one, $2 trillion that's the new high for the entire crypto currency market cap hit this week and it wasn't led by bitcoin it was a rise to digital assets. one of those xrp is up 75% in the past week. another big crypto headline came out of robinhood in march alone, the startup says it saw 3.5 million clients trade crypto for the first time for comparison, the monthly averages last year were around the low 100,000s it now has 9.5 million people
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trading bitcoin, and doge coin crypto trading has proven to be profitable for companies like coin base. that crypto currency trading platform is set to go public next week and a few days ago, coin base gave investors a collapse at the business in the first quarter. it reported an estimated $1.8 billion in revenue that was almost all from trading fees and it was more than the company made in all of last year and finally, leslie, scquare. they offer bitcoin trading and take a look at shares this week up double digits analysts do expect a similar benefit for square as bitcoin prices doubled in the quarter. leslie, back to you. >> wow, it's almost as if it's gold and if you touch it, it turns to gold but it's actuall crypto and of course, we'll get into more of that later.
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thank you, kate. appreciate you bringing the numbers to us. tim, i am told you have some newfound exposure in the crypto world you recently discovered? >> it's called looking understand you are pillow and who is coming next week and what is interesting is that ipo may be a company as profitable as any ipo company we've seen and call it tech land but look, back to what is going on in crypto. the dynamics around both what's been going on with bitcoin as a bench mark but the institutional adoption seemingly, this is also i think the cnbc survey, trader survey had this as a crowded trade. i think the dynamics here are when money is free and liquidity is what it is, this is part of what is fueling this
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you had a fed this week who had different times when they have reaffirmed a commitment to zero interest rates through 2023, fed minutes this week and powell speaking is when you've seen the spikes and you mentioned gold by the way. i actually think gold is a really interesting trade at this point considering all the dynamics that are having bitcoin move, not all of them. some of them are things that we always said were part of gold. gold is probably 18% off of its highs set last july. again, i think this is a crowded trade. this is a fed trade but there is no question the institutional adoption and the broadening of this trade is what we've seen before and this is usually when it gets a little nutty. >> victoria, what do you make of the ultimate institutional adoption coin based, kate mentioned has a direct listing next week. is that something you would be interested in dipping your toes in are you going to wait and see? i know you don't -- you haven't historically had much exposure to the crypto space. does this kind of change things
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for you as a nasdaq listed company? >> maybe i'm showing my age, leslie, but the whole crypto thing really kind of blows my mind, right? so when i look at a company and i want to see their assets, i want there to be hard assets and for crypto there is not. it makes it very difficult for me to wrap my head around this and how the valuations are there and it's interesting, we don't have a lot of exposure but a good measure is when my kids start asking me about something and last week they were talking about coin base and the ipo and i thought huh, okay, it's time to pay a little bit more attention to see if this now is becoming much more main stream and that's where i think i would start to get a little more interest when i can see that more companies or retailers are actually taking crypto as payment when we see the credit cards and they're working on that now starting to get involved in it then perhaps i become a little
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more interested right now. i'm still going to wait and see how this coin based ipo plays out and give it a little time. >> delano, does the lack of a hard asset bother you at all obviously ntfs have been a big trend recently as well kind of with the same lack of underlying physical assets that you can hold is that something that bothers you or do you think that this digital asset, digital currency is here to stay? >> no, leslie, i definitely think it's here to stay. you think about it, you have a subset of people trading based off the volatility but a larger subset of people who are looking at crypto, nft space what it is. the coal, the technology, the different facets and demographic what they are seeing until the future that can be done. a lot of the nfts and things at the bottom tier will be worthless but the top ones will have a lot of worth and we definitely think and are bullish behind the whole space in general. >> all right
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up next, the moment you've all been waiting for rounding out the couldntdown with the final story of the week. it creating such a frenzy some are staying this market is on 'leroids wel reveal it when this bonus hour of "fast money" returns. i trust their vets, and i'm known to have trust issues. they deliver high quality food the same day. i was outside digging, what'd i miss? just everything regarding our physical, social, and mental health. exciting. i'm gonna take a spin around the room. great idea. ♪ ♪ petco. the health and wellness company.
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hello and welcome back to this special edition of "fast money" . we're just moments away from revealing our final topic but
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first, it's time for another fast break to win free beer now that i got the trader's attentions, get a shot, get a beer an ad encouraging people to get a covid vaccine. we've seen similar proportions from chkrispy kreme and others. let's stake a stab at the jab ad are companies cashing in on vaccine marketing. sounds cool but there is controversy. not everybody is on board with getting free stuff in exchange for getting a vaccine. >> or, yeah, i mean, you know, because i need six beers when i sit down and have them, you know, that is six shots and that's not going to be very helpful. look, i think the incentives to get people and companies are trying to maybe get a ground swell of public support around them or some halo effect or some brand friendly message that is
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socially, you know, balanced along hey, do your part, get out there, we're doing our part. we like to see everyone get healthier. so i get that. i think it's a case where first of all, the vaccine numbers in this country are really depress sieve. it's where we have gone in the last six weeks and unfortunately, relative to the rest of the world and some less developed countries, it's time for us to get through our country and help the rest of the world. >> delano, do you think this is the right marketing play to be making now is it something companies will see a return investment from >> that's a great question, leslie i want to get a one shot of hate needle, one shot for me and also maybe need something stronger like a manhattan or something of that nature. i do think that you'll see companies doing this we do know that all of us want to get through this, right the vaccine is one of the biggest catalysts in the last few months and proper rollout has been helping us get through
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the recovery if companies jump on that band wa wagon, i'm for it. everyone wants to see us get through the dark times get behind if they are cashing in on something that's yet to be seen but i definitely think you'll see more companies roll something out like this. >> yeah, it's hard to hate on free stuff but it's 2021 so you never know time to round out tonight's countdown. we've delivered on amazon. we've rallied around the record week on wall street. we took a gamble at the sports betting boom and cashed in on the crypto craze now it's time to bring it home story five, the red hot housing boom homes are selling at the fastest pace ever. red fin says the median home sale price increased 17% year over year to an all time high. you know what they say, those who can't do fill in on 6:00
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p.m. specials on friday night because i just tonight right before this show bought a house despite all of these signals telling me, like not to do that. victoria, am i going to regret it later >> congratulations, leslie that's exciting. that's a good thing. you know, it's interesting, i actually heard the president of zillow on "closing bell" it's not just urban people moving to s say smaller homes to larger homes and vice versa do they sell their house now while prices are high and maybe if you're downsizing, this would be a great opportunity because most people are looking to up size so i just think it depends on what your particular opportunity is and what cities that you're looking in
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i knomentioned earlier, my daugr is going to new york college in the fall we're looking for housing opportunities, it's easier now than 12 months ago it depends on the equation you're on for the housing boom. >> congratulations to your daughter and you sounds like you're making much smarter real estate moves than i am we're long term holders so hopefully it will pay off in the end. tim, you spelled out a bunch of headwinds earlier. what do you make of the housing market and do you think we can see a repeat of 2007, 2008 all over again >> door dash delivering thousands of casseroles to your new house from your neighbors. look, i think there is -- yes, there is another side of the housing rally which is that the affordable 17% year over year and on top of scarce inventory and you really have some challenges i think ultimately, those of us
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that harp about inflation, that's not chtransient and abou asset price inflagtion which is what the federal reserve wants this is what they're getting that's my concern. not everyone who really wants a home can afford one. >> delano, what do you make of the mi trade >> the band withwith my clientele, i've seen a lot of clients looking to buy and how the market is moving really, really fast and prices are sky high you'll see a lot of people take the opportunity but where the market is, a lot of then said hey, i'll take a step back and wait for a little more comfortable pricing to get back in. >> despite the headlines, despite the fact we keep seeing this data day in and out, it's fascinating. google showed a trend that searches for should i buy or sell a home are at the highest ever fascinating stuff. that does it for this special
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edition of "fast money" thank you, tim, victoria, delano don't go anywhere. "the news with shepard smith" starts right now two volcanic eruptions the mad escape and the compelling week in the derek chauvin trial. i'm shepard smith. the medical examiner who ruled george floyd's death a homicide takes the stand. >> i did not want to bias my exam. >> day ten investigations into the motives for two deadly mass shootings less than 24 hours apart the battle to unionize an amazon facility is over tonight, the vote count and what it means for american labor. battling covid, th

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