Google (GOOG) grabs headlines daily for its entry into the mobile handset space. But if GOOG just seems too expensive, there’s another way to trade the mobile sea change: Focus Media (FMCN).
The Chinese advertising company is already involved in the mobile ad space, Pete Najarian said. Google’s phone is months away at least. Focus Media can play the same trend right now.
Handset makers Nokia (NOK) and Research In Motion (RIMM) are now immersed in China. Focus Media, which has surged 5% in the last week, could go even higher if it allies with RIMM or NOK, Pete said.
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Trader disclosure: On Nov. 6, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Jeff Macke owns (YHOO), (INTC), (ATVI); Pete Najarian owns (CY), (BHP), (CSCO), is short (MBI), owns options in (BHI), (BIDU), (C), (FMCN), (GOOG), (HAL), (YHOO); Finerman’s firm owns Russell 2000 Puts, S&P 500 Puts, (CROX) options, (MSFT) options, (LEH) puts, is short (MER) and owns (MER) puts, (TSO), (TWX), (YHOO), is short (MDY), (IJR); Finerman’s firm and Finerman own (GS)