Sometimes a stock is hot and other time it just burns. Following are the Fast Money misfires.
Karen Finerman
On June 9th the Chairwoman found herself dazzled by the big “Citi”. At the time she said, "I have a position in Citigroup as a proxy for the general financials. I know people say never pick a bottom, but I will build a position overtime.”
Looks like Finerman made her trip to the Citi a little too early. Since her buy recommendation shares slid 15%.
I was way early and that’s same as wrong, says Finerman. I sold my position.
Guy Adami
On June 16th the Negotiator suggested nibbling on a corn trade. At the time he said, "Pilgrim's Pride …you actually might want to start dipping your toe in this thing, if you think corn prices might turn lower.”
Adami loves corn but corn doesn’t love him back. Shares of PPC have slid 19%.
I was wrong but I think the trade works if commodities go down, says Adami.
Pete Najarian
On June 18th the Pit Boss thought his play would hit the ground running. At the time he said, “I like Nike's direction, I think they continue.”
Unfortunately this runner stumbled. Since his suggestion shares of Nike are down 11%.
I like the stock but the market didn’t, says Najarian. Sorry about that.
Joe Terranova
On June 17th the Liquidator ended up going nowhere fast with a transport play. At the time he said, “I would buy the iShares Dow Jones Transport. Avg (as a bet against oil.)
Terranova’s trade never got the gas. Oil’s up and his trade is down 4%.
