No. 3 - Netflix In Flux
The digital revolution will again take center stage on Thursday at Amazon's (AMZN) shareholder meeting. Investors will surely ask if the world's biggest online retailer will buyout movie rental service, Netflix (NFLX). With two volatile stocks –where’s the fast money?
Note: Tim Seymour of Red Star Asset Management substitutes for Eric Bolling on this show. We call him "The Ambassador."
CNBC Media Reporter Julia Boorstin joins the guys for this conversation.
Julia says NFLX has a lot of things Amazon might want including 6.8 million subscribers who spend consistent money on media and she says NFLX has good technology. She adds the NFLX stock is so low, it could be appealing.
Pete Najarian doesn’t think any company other than Amazon will have an interest in NFLX and if the deal doesn’t go through, Pete says, “Netflix is toast.” He adds investors holding calls in NFLX should take profits, immediately.
Jeff Macke doesn’t think Jeff Bezos will buy Netflix because it wouldn’t be a good use of cash. He wants investors to stay away from this stock.
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Trader disclosure: On June 8 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Najarian Owns (AAPL), (BTU), (NFLX), (.VIX) Seymour Owns (AAPL), (EWZ), (GLD), (EWZ), (GLD), (VIP, (MTL), (X), (TWX, Gazprom,) Red Star Asset Management Owns (MBT), (MTL), Gazprom ,Lukoil,,Severstal; Red Star Asset Management Is Short (EEM); Red Star Asset Management Is Short (WBD); Coronat Capital Management Owns (SNE)